PPI FAQs discussion thread

robinhood12

Hi All,
I had a Cahoot flexiloan that I signed up for on line and cant remember how the ppi was applied to the loan at the time (2003) I dont know if I had to untick a box to get the ppi taken off or not? I believe this makes a difference to a claim?? can anyone help

Cheers in advance

dcr_1999

Hi all,

I complained to HSBC regarding the mis-selling of PPI on my credit card and they upheld my complaint meaning I've been awarded a payout.

They have offered me a refund of the PPI premiums I have paid (from March 2005 to July 2010).

I took the credit card out in 2000 and was mis-sold PPI at that point in time (as I hadn't taken it out at a later date) so my question is why have they not back dated my complaint to the policy inception date?

As a result I'm missing 5 years worth of premiums, interest and the statutory 8% interest.

Any advice would be more than welcome.

Thanks

dunstonh

I took the credit card out in 2000 and was mis-sold PPI at that point in time (as I hadn't taken it out at a later date) so my question is why have they not back dated my complaint to the policy inception date?

Almost certainly because they have no record from before 6 years ago. They can only pay back what they see you paid.

There is a good chance they are paying out only because they have the same problem as they cant prove you were sold correctly. So, if they had the original documentation they may well have been able to reject your complaint.

If you have your statements from 2000 to 2005 then you can supply copies of those and they will use them to make up the difference.

dcr_1999

dunstonh wrote: »

If you have your statements from 2000 to 2005 then you can supply copies of those and they will use them to make up the difference.

After searching I've found my first 4 statements along with the annual personal financial summary they did that shows the policy was active in the 4 years prior to 2005.

Will be sending this off on Monday morning.

If they don't do anything with it I'll take my complaint to the FOS.

[Deleted User]

dcr_1999 wrote: »

After searching I've found my first 4 statements along with the annual personal financial summary they did that shows the policy was active in the 4 years prior to 2005.

Will be sending this off on Monday morning.

If they don't do anything with it I'll take my complaint to the FOS.

Send only copies, of course.
Well done for still having so much documentary evidence. The Bank knows most people won't have such details and rely on that ending quite a few complaints.
Do FOS it if you get no joy.

dunstonh

If they don't do anything with it I'll take my complaint to the FOS.

Based on other similar cases which went to the FOS, they will go by the evidence. If statements are not available, they will not force the lender to repay. If statements are available from you, then they will expect the lender to use them as evidence of payment.

dcr_1999

Moneyineptitude wrote: »

Send only copies, of course.
Well done for still having so much documentary evidence. The Bank knows most people won't have such details and rely on that ending quite a few complaints.
Do FOS it if you get no joy.

Oh yes it will be copies that I send, there's no way they are getting the originals, after all I wouldn't want them going 'missing' would I :rotfl:

I couldn't believe it when I found them.

It's only the first 4 statements in 2001 and the annual personal finanace status things I used to get each year but it's better than what the bank have got as they've got nothing before 2005.

What I like about the finance status stuff is it shows that there was a balance on my account (pretty much the same with only a few pounds difference) for four years along with the PPI policy still active.

I find it incredible that they hold nothing for me prior to 2005, the company I work for holds data on it's customers from day one.

The question I'm asking myself now is it worth claiming against M&S and Lloyds TSB.

dunstonh

It's only the first 4 statements in 2001 and the annual personal finanace status things

If its only 4 statements then you will get the amounts on those statements unless the annual status shows the total premium paid.

I find it incredible that they hold nothing for me prior to 2005, the company I work for holds data on it's customers from day one.

Data protection act.

dcr_1999

dunstonh wrote: »

If its only 4 statements then you will get the amounts on those statements unless the annual status shows the total premium paid.

The point that I'll argue over them with is that they have nothing at all, where as I have proof that the policy was active along with a balance showing on the account the four years prior to 2005.

dunstonh

The point that I'll argue over them with is that they have nothing at all, where as I have proof that the policy was active along with a balance showing on the account the four years prior to 2005.

Based on others that have gone to the FOS on that argument, it will fail.

There was a poster that got lucky and was given a goodwill payment with an estimate but that was Lloyds. Don't be confident Barclays will do the same. If you dont ask, you dont get.