Claiming Bank Charges and PPI Together?

sp8ty

Back in 2006 i had two loans with HSBC. I failed to make a coulpe of payments due to lack of incoming work (I was self employed at the time). This resulted in a snowball effect of charges where i couldn't make the loan payments because of all the charges.

I then went to HSBC to consolidate all my debts, and they gave me a managed loan. Looking back im sure i was told that i had to take the PPI because of my situation and at no point was i told that i could get PPI from another source.


My question is, am i best claiming for these cases individually? Or should i do them as one claim?


I may have even been miss-sold PPI on my other two loans but cant remember, what are my chances here?

P.S. just thought i'd mention that i payed all this off last year and now have no paperwork:o

di3004

Hi and welcome

Personally I would deal with charges and ppi separately as they are separate issues.

As long as you have your account numbers for each of them you can continue to make a reclaim with whatever reasons you have for being mis sold.

Step 3 below is the reclaming questionnaire complaint form, use and complete for all your loan ppi, if you have the same reasons for being mis sold you can use the same form, but make sure you enclose each account number for each loan, or complete separately if you prefer.
Remember to keep copies in case you need to refer back to them at some point.
They have 8 weeks from the time they receive your complaint, and you should receive an acknowledgement on each one within a week to a fortnight.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

In regards of the loans, the ones responsible at the business who sold and set up your loan accounts.

And the bank charges, below is more info, and the link to help on this matter, good luck on all your reclaiming.;)

http://www.moneysavingexpert.com/reclaim/bank-charges

http://forums.moneysavingexpert.com/forumdisplay.php?f=102

sp8ty

Thanks for replying, I dont have any of the account numbers for these loans. I did sign up to Equifax and it only shows me the last 4 digits of the account numbers, however it does show me the start and finish dates and the monthly payments i had to make. Would this infomation be enough to get my credit agreement and terms and conditions from them?

ALIBOBSY

The FOS guidence on PPI redress includes the fact that the refunds should include any charges (plus interest-compounded) that would not have occurred but for the PPI. Now obviously late charges thsi would be hard to argue for, but certainly when the banks reconstruct loans/cards (as per the FOS guidence) to how they would have been without the PPI (and interest-compounded) it is likely most if not all overlimit charges will be covered (unless from the first few months an account is open).

Following on from this any defaults (in particular if the final "real" balance after recon would be zero) should be removed.

Most banks are trying to get away with as little calculations and payments as possible, but the guidence is clear as to how redress should be worked out.

Best bet may be as Di said do 2 separate claims one for PPI and one for the charges, then if/when the PPI redress is being done make sure any appropriate charges are refunded-then pursue the second claim for the rest of the charges.

ALIBOBSY

sp8ty wrote: »

Thanks for replying, I dont have any of the account numbers for these loans. I did sign up to Equifax and it only shows me the last 4 digits of the account numbers, however it does show me the start and finish dates and the monthly payments i had to make. Would this infomation be enough to get my credit agreement and terms and conditions from them?

Hopefully as long as you give all addresses held since the finance was taken out plus all your personal details it should be enough.

If you have any worries though you can do a SAR to get all the info on the account.
Without all the info there is chance the FOS may look less favorably on the claim (as no evidence held) and you have no way of checking any offers that a bank may make.

You can always bang the claim in and see what they say and ask for the info later if things get a bit sticky.