HSBC PPI Claim Success!

Sneakers

Catswhiskers wrote: »

Just in case anyone else is in my position this time last week and wondering when they will see the colour of their money, today I had my refund credited to my account. That is a total of 4 working days since HSBC recieved my acceptance form.

Did it go in at midnight or a little after? I have supplied a different account to put in as im not a HSBC customer no more. Did you do the same?
One of the customer service reps said they received it on monday but I think he was trying to get me off the phone as I had no account no to give apart from my name and reference from the letter.

S1804

What should the offer comprise of ignoring the actual numbers? I have just had an offer from HSBC that is made up of PPI Premium Redress + taxable interest at 8%? I'm not sure if there should be a third part (interest paid maybe?).

I'm sure I saw somewhere that offers should be comprised of three elements.

-taff

Depends if it's credit card or loan ppi redress.

lagerling

Hi All, I am new to forums so please forgive me if this is long winded. I received a letter from HSBC to say I may have been misold PPI on 2 loans I had with them, long story short I filled out the forms, sent them back then got a letter from HSBC stating they were upholding my complaint they offered me a figure of redress and interest to which I signed the acceptance letter sent it back. I today called them as it was 3 weeks ago to find out when I can expect my money and they have told me it has now been cancelled and they are investigating further. Has anyone else experienced this and if so what was the reason. I was under the impression that it had been investigated and they had admitted it was misold because they offered me a sum of money I am very confused and could really use some help. Can they do this ???????
Thank you in advance for any help you might be able to offer

-taff

They are re-investigating for whatever reason. Did you default on either of the loans?

lagerling

No and both were paid off early by refinancing, what I don't understand is why they sent an offer out and let me accept it then whilst payment was in process they then cancelled to re investigate

flat_earth_society

Well today i have finally got an answer from hsbc. I had been mis sold ppi on my credit card and have been paying since 2002 till 2013. I was not maxed out, but usually in debt by around £900 (max on card £3000). The advice i was given by their advisors over the last 8 weeks has been appaling, sometimes lying about letters being sent out.
Anyway today (still no letter) i phoned and they said they have upheld my complaint (good news), and the offer is £1,048.00 full and final settlement!
I think this is a bit low considering i have been paying to these sharks for 11 years.
My wife and i have 5 accounts with them and feel we have been treated like kids.
I will reject the offer, but wondered what anyone thinks a fair offer would be?
Thanks.

-taff

If they have upheld your complaint, there is no offer, there is only the defined method of redress as below for credit cards

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/redress.html

flat_earth_society

thanks taff, really hard to find info on credit card ppi and redress of the situation.

Monkey989

Hi,

In relation to people posting on this topic. I sent mine by recorded delivery. and am wondering if any of you have had a signature as well as the delivered message. also were any of yours addressed as going to the ppi complaints department in coventry. as mine has already been signed for and was addressed to the said department.

Thank you for your reply.