We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

PPI Reclaiming Discussion Part 5

Options
12392402422442451103

Comments

  • di3004
    di3004 Posts: 42,579 Forumite
    smithy67 wrote: »
    Hello everyone.
    This will be short and sweet.
    Right iv had a few loans and credit cards plus motor insurance in the past.
    I have read through the ppi reclaim page all i want to know is i have zero paper work i mean nothing at all and am not to clever am getting a little overwhelmed by what you have to do could someone just put a quick step by step what i have to do when you have no paperwork or anything all i have is an address and a name. i know i was sold ppi but am just a little clueless at the moment.
    Thank you


    Hiya

    As stated in above posts, it's not actually the same as ppi as such, but if your not happy with the way it was dealt with, you can still put in a complaint about this and ask that they refund because of these reasons.

    I see helpful posts have already been posted, but just wanted to confirm that you can still write to complain, but they will not look at it as the same as ppi, but for whatever reason you have to complain, you can still do that and ask them to refund.

    Hope that makes sense lol, good luck.:D;)
    The one and only "Dizzy Di" :D
  • mobutt
    mobutt Posts: 3 Newbie
    amersall wrote: »
    You will get the amount they have offered you as this is the PPI that you have paid to date, as the loan is still running the whole PPI amount will be taken off the loan and the loan reset, it could be that the whole PPI taken off will leave the loan with a zero balance.


    thats what i am hoping for as the loan balance just now is under £1700 & ppi amount added to loan was £2.272. the balance has not been reset or anything yet. ill call them tomorrow to find out for sure. thanks for your reply.
  • tobyorr
    tobyorr Posts: 2 Newbie
    Hello.

    This is my first post on here and may subsequently be slightly long winded, so I do apologise! I have found a lot of information about the whole process on this page, which is encouraging!
    I have today found the paperwork for the first loan I took out with HSBC which had a single premium PPI worth £1145 with intrest. I have filled out the questionnaire and am going to send it off to them in due course.
    Now the questions i have are:

    1. I have paid off that original loan with another loan, but the PPI was already part of the total loan amount. I have no paperwork for the subsequent loans (also with HSBC) and cannot therefore tell if those had PPI on as well. Will HSBC Find that out for me or will i have to do that myself?

    2. I have also had a credit card with HSBC for which i know that i had PPI, but i have no paperwork what so ever. How do i find out how much i can claim for and how do i go about it?

    If anyone could get back to me that would be great! Also has anyone else had any experiences in dealing with HSBC? I'd be interested to find out what they have been like to deal with.

    Thanks
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    tobyorr wrote: »
    I have paid off that original loan with another loan, but the PPI was already part of the total loan amount. I have no paperwork for the subsequent loans (also with HSBC) and cannot therefore tell if those had PPI on as well. Will HSBC Find that out for me
    Yes, an obvious consolidation chain will be treated as one complaint
    tobyorr wrote: »
    I have also had a credit card with HSBC for which i know that i had PPI, but i have no paperwork what so ever. How do i find out how much i can claim for
    You do not "claim" for a particular amount, you complain that the payment protection was mis-sold (if it was)
    Go here
    http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance
    and follow the simple steps.

    HSBC are no better (or worse) than the other Banks to deal with.
  • tobyorr
    tobyorr Posts: 2 Newbie
    thank you, much appreciated. It just annoyed me having seen how much it cost (22% of the overall loan). I would have had to claim for 9 months out of a 5 year loan term for the policy to be financially rewarding! ridiculous!
  • andylad_3
    andylad_3 Posts: 8 Forumite
    Hi All!

    I'm helping my partner claim for PPI refunds on 6 separate single payment premiums for 6 loans taken out with HSBC (first loan from 2001 to the last in 2006).

    The claims will relate to being misold PPI for general reasons - primarily, that the insurance was mandatory and that the loan could not be signed off without the insurance.

    After chasing as per the prescribed steps, at last I have the statements and cover letter from HSBC.

    I would be grateful for advice on how to proceed:

    1. Do I need to initiate 6 separate claims or can I consolidate the 6 claims into one
    2. Can I claim interest back at 8% on the PPI's, and if so is this from the date of first repayment in the loan?

    Many thanks,

    Andy
  • mikeandbec
    mikeandbec Posts: 15 Forumite
    Hi I wonder if anyone could let me know if when your complaint is turned down by a bank and they state it is their final response is it worth asking them to reconsider the case before going to the ombudsman?

    My reason for asking is I have been turned down by FirstDirect but their letter to me is full of contradictions and errors so I want them to reconsider with the correct facts before I go to the Ombudsman

    Thanks
  • cappo
    cappo Posts: 2,121 Forumite
    andylad wrote: »
    Hi All!

    I'm helping my partner claim for PPI refunds on 6 separate single payment premiums for 6 loans taken out with HSBC (first loan from 2001 to the last in 2006).

    The claims will relate to being misold PPI for general reasons - primarily, that the insurance was mandatory and that the loan could not be signed off without the insurance.

    After chasing as per the prescribed steps, at last I have the statements and cover letter from HSBC.

    I would be grateful for advice on how to proceed:

    1. Do I need to initiate 6 separate claims or can I consolidate the 6 claims into one
    2. Can I claim interest back at 8% on the PPI's, and if so is this from the date of first repayment in the loan?

    Many thanks,

    Andy



    Hi andy you need to put 6 questionaires into hsbc remember to keep copies and send by recorded delivery and yes you can claim the 8% from the start of the loan to now.:D:D:D:D:D:D:D:D:D:D:D:D:):)
  • cappo
    cappo Posts: 2,121 Forumite
    mikeandbec wrote: »
    Hi I wonder if anyone could let me know if when your complaint is turned down by a bank and they state it is their final response is it worth asking them to reconsider the case before going to the ombudsman?

    My reason for asking is I have been turned down by FirstDirect but their letter to me is full of contradictions and errors so I want them to reconsider with the correct facts before I go to the Ombudsman

    Thanks



    Yes give them a chance to reconsider but don't let them give you the runaround tell them it'll be the fos if there decision is still the same.
  • andylad_3
    andylad_3 Posts: 8 Forumite
    cappo wrote: »
    Hi andy you need to put 6 questionaires into hsbc remember to keep copies and send by recorded delivery and yes you can claim the 8% from the start of the loan to now.:D:D:D:D:D:D:D:D:D:D:D:D:):)

    Many thanks! Last question would a PPI from the first loan cover the other loans or would 6 independent PPI's always have been needed. Just curious.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.