HSBC PPI Claim

swisstony49

Thanks for the response. As I said, I wouldn't want to make up an 'I've been strongarmed' experience, sounds like it wouldn't do much good anyway if it's hard to prove either way.

It's only cost a stamp, I'm just surrounded by people with payouts of thousands, it would be typical I'm the one that gets nowt haha!!

TopCat1976

TopCat1976 wrote: »

This matches my experience so far. Received the "regret to inform you" letter after about 5 weeks after the acknowledgement letter. We're now 2 weeks further down the line so hoping for a settlement letter soon.

Have no idea how much I borrowed from them, but know I had a loan (that was topped up several times) from 1998 onwards until approx 2012....

Received my offer letter yesterday (10th June). Acceptance form to complete and bit of a pain in the !!!!! visit to the branch to confirm my identity/address but fingers crossed for a swift payment - it appears they are paying by BACS

TopCat1976

Received my redress on Thursday 21st June by BACS transfer.

Got to say I've been very impressed with the speed with which they have handled this - far better than Egg/CSO

screese

I've logged a complaint with HSBC regarding miss selling of PPI in September 2011. I received a letter informing me of the high volumes of complaints and requesting me to wait up to 16 weeks, after waiting till mid-January without any correspondence I sent a letter informing them if I received no information by the end of February 2012 I would take the issue up with the ombudsman service and nothing was received.
After sending the information to the ombudsman service, I was informed that this could take up to a 1 year to review and resolve. The last correspondence I received was on the 18th February 2012 from the FOS stating that HSBC said there was no PPI on the 2 loan accounts (even though they had provided the account numbers) I finally managed to locate 1 of the loan agreements signed by myself and the bank and sent to the FOS. Since then I have heard nothing, I've sent a letter requesting information but that was 3 weeks ago and I've still no idea when or if this will be resolved and no idea if I can take this anywhere else. Kind of thinking of giving up with the whole idea now as I don’t believe it can be taken any further and seeing it's been on-going for almost 2 years. This is in comparison to my wife’s PPI Loan that was resolved in less than 6 weeks!

-taff

You can't take it anywhere else, it's now with the FOS. If you want an update, ring the FOS and ask.

[Deleted User]

screese wrote: »

I finally managed to locate 1 of the loan agreements signed by myself and the bank and sent to the FOS.

Unfortunately, the loan agreement is not (on it's own) proof that you actually paid any PPI. If you had cancelled within the 30 day cooling off period, for example, the agreement would not reflect this.

As -taff says you'll have to rely on FOS to progress this, but can't you ring them up with your complaint reference number and ask about progress?

rolleypolleypud

Does anyone know if HSBC keep loan records for more than 6 years? I had a loan with them back in 2003 but as it's long paid off I don't have any paper work?

screese

Moneyineptitude wrote: »

Unfortunately, the loan agreement is not (on it's own) proof that you actually paid any PPI. If you had cancelled within the 30 day cooling off period, for example, the agreement would not reflect this.

OK so even if I have provided the loan agreement and the bank statement that details that I have paid (which I have to the FOS), the bank can still state the PPI was not on this account?

-taff

screese wrote: »

OK so even if I have provided the loan agreement and the bank statement that details that I have paid (which I have to the FOS), the bank can still state the PPI was not on this account?

Yes. Unless your agrement shows the PPI amounts ot be added to the loan and the statements show you paid that amount in full each month, then there is no proof.

If both agreement and PPi amount match your monthly outgoing, it's fine.

TopCat1976

rolleypolleypud wrote: »

Does anyone know if HSBC keep loan records for more than 6 years? I had a loan with them back in 2003 but as it's long paid off I don't have any paper work?

I had loans with HSBC from 2000 onwards. The only thing I had to send them was my old bank account number and most recent addresses. They provided the rest and as stated earlier, I got my redress last week