HSBC PPI Claim

flashbang

Hi All

I submitted a letter of complaint about PPI sold to me for an HSBC Credit Card. I sent the letter on 6th January to the address listed for PPI complaints on the HSBC website but have heard absolutely nothing to date. I thought i would have received at least an acknowledgement letter by now.

Has anyone got any idea how long the delays are for HSBC to deal with PPI claims at the moment?

Thanks

chrispbug

HSBC are usually pretty good with their replies.It took 2 months for the initial reply saying they were dealing with my complaint, then another month for a settlement figure and finally 10 days for payment to hit my account.
Patience is the name of the game but keep on top of it

Tessie_Bear_2

Hi,
I wondered if some kind soul could give me some advice please on my next step with an HSBC PPI claim. WARNING...QUITE A LONG POST!!!

I made initial enquiries to HSBC about 4 weeks ago just to test the water really as I wasn't sure if we (my husband and I) could claim PPI as we hadn't got any paperwork. In the email I asked HSBC if they could send me the info for any loans we had taken with them over the last six years. I also said that if they needed me to pay for this service to email me back with the cost. I received a reply the very next day saying that they would look into my complaint. I didn't hear anything until last week when I received a form through the post from them asking me to complete it and listing all the loan agreements etc. I couldn't do this as I didn't have the information. HSBC still haven't sent me the information I initially asked for in my email to them. Anyway, I didn't fill in the form and just put it to one side intending to ask them again for the information about all the loans we had taken out in the past six years. But tonight I've come home from work and received the following letter:

"Strictly Private and Confidential Without Prejudice I am writing regarding your complaint about Payment Protection Insurance. This matter has been reviewed by our Regulated Sales Complaints team in accordance with the requirements provided by the Financial Services Authority and I can now confirm that we are upholding your claim. I am unable to respond directly on a case-by-case basis to specific issues raised, however, I would like to outline how I intend to resolve the matter. In view of my findings, to ensure that this matter has not financially disadvantaged you, I propose to offer the amount of £2,120.58. This figure will effectively return the protection premiums you have paid along with an element of gross interest. (Then a bit about taxable things). Details of the offer are shown on the Acceptance of Offer form enclosed. Your redress offer will be paid within 4 weeks of receipt of your offer of acceptance of our offer. Please ensure you return the form within 6 weeks of the date of this letter to enable us to process the redress payment and conclude your complaint. (Then a bit about if they haven't been able to satisfy my complaint to contact the financial ombudsman). (Then they close the letter telling us we're a valued customer).

What I want to know is:
1) Is it best to accept this offer even though HSBC haven't sent me the information I requested? (I have no idea how much our loans and/or payments amounted to over the years so I don't know if what they are offering is ok or not).

2) If I decline the offer and go to the Ombudsman and don't get any joy, will the original offer be withdrawn and I come away with nothing?

3) I'm actually impressed that I've been made an offer even though I haven't actually filled in any forms or written letters and this response is just off the back of one enquiring email to them, plus they Have been really nice so far - so...would you advise me to just ring them and ask for the information regarding the past loans and to explain that I can't accept the offer as I don't have any information with which to check their offer against(sorry if I'm not making myself clear)?

I think what I'm trying to say is...what if they actually owe us more and this is just a standard letter to fob us off with. I really have no idea, as I said before, of the amount of loans and payments that we've had in the past - we haven't got any paperwork anymore - that is why I emailed the bank to request it from them in the first place.

Please accept my apologies for this long post - I just wanted to try and explain everything clearly. I hope someone out there can advise me. Thanks in advance.

bethl79

Sorry no advice but I will be watching for any replies too, as I am about to lodge a claim with the HSBC. I'm not sure if I have a case to be honest as I don't even remember signing up for PPI when I took out my credit card and it was in 2004. This sounds awful but it was only recently that I even realised I was paying any kind of insurance on it, I'm a 'put it in the drawer then never look at it' person when it comes to statements. I am turning over a new leaf though and will be checking everything from now on!

Tessie_Bear_2

Hi bethl79,

Haha...so am I! I'm shockingly disorganised and usually leave everything to the last minute! Like you, I'm trying to turn over a new leaf too. The problem I have is that we don't have any of the paperwork so have no idea of the final amount of what we paid. It's impossible for me to guess just what we could be owed - that's why I emailed them. And also like you, we didn't know if we had a case either. I have to say, though that I was really pleased when they responded straight away. To be fair, they have been a really good bank to deal with and our local branch staff are tremendously helpful when we've had queries in the past. All I can say is, go for it - you never know - and, all it took is an email with ours. I haven't had to write any letters or anything - yet;)

amersall

This looks like a "gesture of goodwill" if it is, this could be because they no longer hold any info on all the accounts?.

Contact them and ask what loan(s) this redress is for,if it is for one loan then ask about any others,also what were their "findings".

If it is redress for all loans that you had with them,ask them for a breakdown of the loans and amounts,as you are not sure if you should accept the redress,if they cannot give you these tell them you want to request a SAR,this will cost you £10 but will get all info for you,the problem is this can take up to 40 days.

Depending what the redress is for (could be no info,hence the "goodwill"),if you decline,with no info and the SAR comes back without info you require to take this to FOS the offer may be withdrawn.

Tessie_Bear_2

Thanks for your advice amersall.

Does anyone else have any thoughts?:)

borz666

Hi, does anyone have a good template letter to start a claim with HSBC. I'm looking at PPI and CCPPI. I've really struggled with this site as I'm just getting a information overload and I get real nasty anxiety when it comes to money matters. sorry

lkeegan

Hi all

I have an HSBC credit card which I've held for about 8 years. I called them this morning to ask if I have PPI and was advised that they couldn't tell me that but would raise a 'Service Feedback' and it could take up to 8 weeks to go through! I asked them if they could tell me if I have PPI but they wouldn't tell me! Is this normal practice? What does it mean?! Thanks.

borz666

lkeegan wrote: »

Hi all

I have an HSBC credit card which I've held for about 8 years. I called them this morning to ask if I have PPI and was advised that they couldn't tell me that but would raise a 'Service Feedback' and it could take up to 8 weeks to go through! I asked them if they could tell me if I have PPI but they wouldn't tell me! Is this normal practice? What does it mean?! Thanks.

Do you still have a statement? It should say something like: Insurance Payment

amersall

borz666 wrote: »

Hi, does anyone have a good template letter to start a claim with HSBC. I'm looking at PPI and CCPPI. I've really struggled with this site as I'm just getting a information overload and I get real nasty anxiety when it comes to money matters. sorry

All you have to do is have the account numbers for loans, card number for credit cards and reasons for mis sell

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#step2
If any/all reasons apply to you,then put the claim in,most do these over the phone now,so you could ring the bank and do it there and then,

http://www.hsbc.co.uk/1/2/contact-us/complaints?HBEU_dyn_lnk=ContactUs_MakeaComplaint_Link


if you prefer the questionnaire,use this one

http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Item 3 for claim form,remember to make copies of these,in case you need to go to FOS,then you wont have to fill them in again.

Has that dropped your stress level a bit?.
This is so easy,if you need any help just ask whatever question you need the answer to x.