PPI FAQs discussion thread

dunstonh

Rita83 wrote: »

Hi, I purchased a loan though HSBC's internet banking/loan application - this was automatically agreed with the funds transferred to my HSBC bank account almost instantly. So I didn't 'speak' to any HSBC staff member to be 'miss-sold' PPI.

I can't recall opting in or out for PPI, and all my paperwork was in soft format, so I have no idea if PPI is included. I only have old hard copy loan statements.

Suggestings for claiming, or even if I can claim? I can't find an answer within the PPI FAQ's that matches my situation.

Thanks

So, what exactly would your complaint be about?

Nasqueron

Rita83 wrote: »

Hi, I purchased a loan though HSBC's internet banking/loan application - this was automatically agreed with the funds transferred to my HSBC bank account almost instantly. So I didn't 'speak' to any HSBC staff member to be 'miss-sold' PPI.

I can't recall opting in or out for PPI, and all my paperwork was in soft format, so I have no idea if PPI is included. I only have old hard copy loan statements.

Suggestings for claiming, or even if I can claim? I can't find an answer within the PPI FAQ's that matches my situation.

Thanks

You should ring the bank and establish if you even had PPI before worrying about a complaint

FlloydGeorge

I believe I may have had a PPI plan (or two) but it would definitely be more than six years ago, is there a way I can check this?

Nasqueron

FlloydGeorge wrote: »

I believe I may have had a PPI plan (or two) but it would definitely be more than six years ago, is there a way I can check this?

Your own document archive or try the bank / finance company by phone (or ultimately send a £10 DSAR and see if they have anything left)

Montegolf7

Can I claim ppl from a business account loan

Nasqueron

Montegolf7 wrote: »

Can I claim ppl from a business account loan

You can complain about PPI but business loans are different and firms are allowed to insist on insurance in case your business fails - otherwise they can just refuse to lend to you.

Marnies_Mum

Hi, We took out PPI on a mortgage when we moved home. Fortunately we never needed to claim and entered the contract in good faith. When we later changed to a new mortgage provider, we didn't give any thought to the PPI policy -stupid I know - but never thought to cancel it, in fact we had forgotten that we had it. Nonetheless, in spite of cancelling the mortgage, the PPI premiums kept on being taken by the provider of the original mortgage. It was quite some time before we realised that we were still paying this premium, at which point we cancelled the policy. Do we have any form of redress or do we just chalk this up to experience? Thanks

-taff

It's up to you to inform them you had changed your mortgage, not them to chase you. That being said, you can ask them nicely to refund it and provide proof you didn't need it. They may return it.

dunstonh

Nonetheless, in spite of cancelling the mortgage, the PPI premiums kept on being taken by the provider of the original mortgage.

Could you imagine the trouble they would be in if they cancelled it without your permission and you suffered a claimable event?

Do we have any form of redress or do we just chalk this up to experience?

there appears to be nothing wrong.

ruky_uk

I have a friend who wanted help in claiming PPI for a few credit cards hehad. I helped complete the questionnaires based on info from MSE, as hestruggles with writing in English.

He could not recall the exact way in which he obtained the cards, Icompleted all 3 forms in the same generic way and also put 'not known' for whenthey asked how was the PPI taken.

He knows the 1st had been in person at the bank where he had beentold by the adviser her needs the insurance (this is the one that paid outstraight away), and 2 over the telephone. No one had explained exactly what thecover was for, it was optional and would accrue interest etc. - due to his lackof English, and based on what he was initially told by an adviser at the bank,he had thought some insurance was needed so if he died the debt would clear andhe would also need the insurance before the credit was granted, otherwise theapplication was rejected.

2 out of 3 companies replied. 1 paid him pretty much straight away, 1 isbeing processed and AMEX wrote stating they reject the claim as he had tickedon the claim form that he was advised to take the insurance out and did notunderstand the full policy benefits etc., however the application was done overthe telephone and no insurance advice was given, when the agreement letter wassent the PPI was an optional extra which he ticked he wanted to includetherefore as no advice was given the complaint is not upheld.

I have read on the forum and on other agency websites that some creditors dounfairly refuse claims. I’m not sure ifthis is a case of being unfairly rejected? I explained the contents to my friend who said he had not known the fullbenefits, apart from the small print had no other details and could notunderstand what this meant. He hadticked yes for the insurance as he had with others thinking he needed this forthe credit.

He had called to get credit cards as needed these for business use at thetime. He spoke in broken English to themwith help of a friend at the time and they did not send anyt5hing else otherthan the agreement to sign which he did and this is where the PPI was ticked.

Is there any point of challenging this? Can this decision be looked atagain? Any help will be appreciated.