PPI Reclaiming Discussion Part 5

dunstonh

Eedeed wrote: »

Hi hsbc just said that my Ppi claim is under investigation and there is no time limit for them to reply. Is this correct??? Thought they had 8 weeks??? Letter received with them 20/11/2015. Thanks

There is no 8 week limit. After 8 weeks they have to let you know there is a delay and you can go to the FOS if you wish at that point. However, the FOS queue is longer than 8 weeks too and you are best to give HSBC more time.

Eedeed

Sorry should of said 20/10/2015 when they received my letter

Eedeed

Thank you for that information

0ldskoolskater

Hi,

Having trying to read as much as possible on PPI I might at last have a go at reclaiming but I genuinely do not have a clue what loans I had from which providers over the years?!
Do I stand any chance at all without such basic information?

cheers

Oldskool

tomtontom

0ldskoolskater wrote: »

Hi,

Having trying to read as much as possible on PPI I might at last have a go at reclaiming but I genuinely do not have a clue what loans I had from which providers over the years?!
Do I stand any chance at all without such basic information?

cheers

Oldskool

You would at least need to know who the lenders are, otherwise you will not know who to claim from.

With so little memory, could I ask what your reason for complaint would be?

0ldskoolskater

Thanks for the reply, though I'm not entirely sure what you mean by my reason for complaint?

To summarise, I've had many unsecured personal loans over the years and whilst I've always been careful to not take out insurance in its various forms, the more I read the more I think perhaps it was applied without my knowledge. I genuinely do not know which banks I've borrowed from over the last 25 years and have always binned the paperwork upon completion of the loan, so it sounds like my chances are somewhat limited at best. Is there a glimmer of hope perhaps?

thanks

dunstonh

though I'm not entirely sure what you mean by my reason for complaint?

You intend making a complaint to the lenders about the PPI. You dont know the lenders. So, your memory doesnt appear strong on this point. So, what is your complaint reason?

0ldskoolskater

Am I missing something here? It would seem that there are equally as many people that have been hit with PPI unknowingly than those who did know about it. I may fall into the former category but then how would i know??. I guess my complaint would potentially be that I have been subject to PPI without my knowing.

dunstonh

Am I missing something here? It would seem that there are equally as many people that have been hit with PPI unknowingly than those who did know about it.

It is more likely that the person forgot they had it. Credit cards, for example, show it on each monthly statement. Not hidden. Mortgages have it a separate monthly direct debit. Loans are the only thing where it is built in but it appears on the credit agreement.

I guess my complaint would potentially be that I have been subject to PPI without my knowing.

Which is just about the weakest complaint reason going. It is an unprovable allegation. So, you would be reliant on another failure reason being spotted or getting lucky with an auto payout.

magpiecottage

0ldskoolskater wrote: »

To summarise, I've had many unsecured personal loans over the years and whilst I've always been careful to not take out insurance in its various forms, the more I read the more I think perhaps it was applied without my knowledge.

This is a myth that is perpetuated by claims companies - many of whom take an up front fee and then do nothing.

0ldskoolskater wrote: »

I genuinely do not know which banks I've borrowed from over the last 25 years

There is your first problem. You have no idea who might have missold you products and therefore have no idea where to aim a complaint.

and have always binned the paperwork upon completion of the loan, so it sounds like my chances are somewhat limited at best.

And there is your second. If a complaint is investigated, it is necessary to demonstrate fault on the part of the person or organisation against whom it is made.



So if I were to summarise, you are looking to complain to some banks about PPI they sold you but you do not know who the banks are, let alone if you had PPI and if you did have PPI, it was missold to you because it is the bank's fault you did not read the documentation they provided you - as you cannot prove it was unclear, unfair or misleading.

If that was a complaint I was asked to look at, I would consider what, if any evidence the bank held but, as things stand, your case does not come across as very persuasive.