PPI Reclaiming Discussion Part 5

[Deleted User]

Jamesdusk wrote: »

I took out a new loan with them in March of this year, would they do it with that one?

As I said, only if you have fallen behind with payments...

SSami

Hi,

I am new to the forum. I have had loans from HSBC in the past and have lost the paperwork dues to moving house - i was tempted to use a claims handler uyntill i saw the advice on moneysaving expert. I have called HSBC and have asked them if i had loans with PPI and they have said yes i have had 3 loans with PPI and the person i was speaking to wanted to know who i spoke to in 2003 when i was getting the loan (like i can remember that)! - I put the phone down and then called again and spoke to another representative who also confirmed i have had PPI on 3 loans and he immediatly raised a complaint and said they will contact me within 2 months.

Is there a timeframe that banks need to deal with PPI complaints within?

please advise

Thank You

-taff

Yes, within 2 months.

amersall

An acknowledgement in writing also, within 2 weeks.

martyj999

Moneyineptitude wrote: »

If you ceased your business and went on the "Dole", then why would this mean inevitable bankruptcy?

MPPI is only supposed to cover your mortgage repayments, not "last year's tax bills", so it's difficult to see how you may have been mis-sold.

It's funny, but I never claimed anything about ppi covering my inland revenue bills or anything else other than my mortgage.

(Text removed by Forum Team)

dunstonh

martyj999 wrote: »

Thanks for that, phoned legal and general and got passed around a few departments til I got the right one. Explained to the very nice lady where I stand with regards to doubting that I am as covered as I had been led to believe when taking out the policy. She states that for me to take advantage of my ppi I would have to declare to my local tax office that the business had ceased trading, at that point I would have to go on the dole and presumably bankruptcy would be the next option as I doubt very much the inland revenue would just let me off last year's tax bill. SO, at that point what use would mortgage PPI be when I presume they'll repossess my home.

So without prejudicing my current policy she will pass on my complaint to the relevant department to investigate whether it is the case or not that I have been miss-sold, but they'll keep the policy running should they find it was not the case. Seems to me that it's not the policy I had been led to believe it was and that my home is not as secure as I once thought.

I'll report back here with the outcome of their investigation (which she says may take 8 weeks) but if anybody has any other advice to me please let me know. Thanks.

EDIT: here's the number for the department I dealt with in case anybody is looking for it:

08000728315

You do not need to declare bankruptcy. The good MPPI plans will require you to cease trading and sign on. The bad ones require more. The bad ones tend to get upheld on complaints. The good ones tend to get rejected if tht is your only area of complaint.

Most MPPI complaints get rejected as the quality of the PPI is higher than that of loan and credit card and it is also covering a major debt with lifestyle changing consequences if you do not pay it. Unlike loan and credit cards.

loislane1

Hi - hope you can help! I have successfully claimed back my ppi from Blackhorse. When I got my final letter I noticed there was 3 other loan accounts that the letter stated I was unsuccessful in my claim ( I didn't know I had these loans!). I was expecting on the money so just signed and returned the form. Now I am thinking they have done it again! They basically said I forgo any claim on these loans if I sign and return the letter and 'might' not be successful with my current successful ppi claim!

So... can I now contest there decision even though I signed a letter stating I would not? I feel ripped off again!
Thanks

-taff

You should have read the letter more carefully.
I don't know. If you signed to say it was a full and final acceptance of all loans then no, you can't.

loislane1

-taff wrote: »

You should have read the letter more carefully.
I don't know. If you signed to say it was a full and final acceptance of all loans then no, you can't.

Thank you for your reply. To be honest I felt I had no choice or they might take away what I was offered on the other 3 loans I claimed on. ( I didn't know I had another 3 loans and never claimed on them!) and they also stated this on the letter!

As you can guess my finances are a mess so trying all ways to get things put right. I have just completed 10 ppi application forms and covering letters. I have wrote to blackhorse again with covering letter and application form just in case.

I'll let you know the outcome.

-taff

loislane1 wrote: »

To be honest I felt I had no choice or they might take away what I was offered on the other 3 loans I claimed on.

You could have written back and said you would accept the redress on one loan, and then complain about the other ones, but i suspect that you needed the money quickly.

From now on, pay attention to what letters say, it might come in handy with your other PPI complaints.