HSBC will only refund last 6 years PPI

rebecca6601

I am currently in the process of claiming back mis-sold PPI on a HSBC loan taken out in 2003. I received a letter today saying:

"In line with HSBC procedures we are only able to produce statements on your account for the last 6 years. I therefore propose to offer to refund the premiums paid over the period for which records are held. The amount of this offer is £203.66. Should you be able to provide evidence in the form of statements showing PPI on your account for the period prior to this please forward this evidence to me for consideration."

I don't have any statements previous to this, however I did find a later one which does not actually show the PPI payments on it anyway. I presume this would have been on my loan agreement which unfortunately I also do not have.

Has anybody else come across this and if so can you advise me on what is best to do. If i'm likely to be fighting a losing battle then I will accept the proposed amount, however if they are trying to 'pull the wool' then I want to pursue it. I have read on other forums from Barclay's customers that their bank agreed refund them for the period prior to 6 years by working out the average PPI payment from their last 6 years and using this figure to calculate what they would have paid previous to that.

If anyone can advise me on this matter I would be grateful. I will likely phone the FOS on Monday to check with them but would like to hear from anybody who may have been in a similar situation.

Thanks

[Deleted User]

rebecca6601 wrote: »

If i'm likely to be fighting a losing battle then I will accept the proposed amount,

Well, unless you have comprehensive detail of payments made (statements etc) from the period in question, you aren't going to get any more from the Bank.
Typically, Banks do only keep records for six years unless the account is still open or it's a loan that was consolidated into a subsequent one which is still not settled.

This circumstance appears with increasing frequency on the forum, so it's often been reported.

gramochroi

I had the exact same response from HSBC a while back and 'phoned the FOS, having been paying PPI since about 1990. When I complained that the bank should not expect me to hold statements going back that far, the FOS told me nor should I expect the bank to do so!

I was lucky enough to find some statements going back to the mid '90s, but without those I would have felt I had to accept the bank's first offer.

Best of luck.

mbtstars

Hi, I am in a similar situation. Noticed on mastercard statement that Insurance Premium was PPI. To cut a long story short...claim started 7th March, Hsbc made a redress offer for the period 2005-2012, however the policy start date was 17/8/90, got this date from a screen printout that was sent to me when I requested DSAR, HSBC are refusing to go back further claiming they dont keep records past 6years, they destroyed my fee of £10, i am totally confused as I feel they must be able to provide more info, the mastercard account is still active and so was the insurance until April this year when they cancelled it when sening out the redress offer!!!! stress is an understatement, They clearly do not want to pay out more...so unfair that they can keep fifteen years worth of our money...help please

[Deleted User]

mbtstars wrote: »

They clearly do not want to pay out more...so unfair that they can keep fifteen years worth of our money...help please

In case you missed it, here's my response to your other post about this on another thread;

Moneyineptitude wrote: »

The reason they will not pay for periods earlier than 2005 is that they have destroyed your records from earlier than this in accordance with FSA guidelines.
In order for you to have any hope of redress from this earlier period you'd have to provide them with comprehensive documentary proof (statements etc) from your own archive.
If you have no such documents it's game over, I'm afraid.

At least you will receive what you paid over the last seven years.

It's a similar answer I gave to the OP of this thread.

Emeritus_2

Can I have some advice I recently put in a claim with HSBC for misold PPI too. I found an old statement with my loan amount, ppi amount and monthly payments on it.

I didnt include this paperwork in my claim, since HSBC have written to me asking me to fill out the questionaire if I havent already.

Do you think it would be prudent of me to send them this information I had assumed they would have had it anyway? But evidently that assumption was silly.

UKmoneylady

Have you seen that you can still claim up to August this year and companies will find it for you? Just about to start the process.

Rainbowgirl84

Seven year old thread warning.

meer53

angiepet wrote: »

Have you seen that you can still claim up to August this year and companies will find it for you? Just about to start the process.

Companies will also charge you a huge amount from your potential PPI payment to do this too.

Don't think the OP will be checking for a response after 7 years. :rotfl:

societys_child

angiepet wrote: »

Have you seen that you can still claim up to August this year and companies will find it for you? Just about to start the process.

Oh dear. Unlikely they will "find it" for you unless you provide the information.
They have no magic wand that can somehow reveal deleted data .

[Deleted User]

Poor "rebecca6601" will never know that a spammer responded to her thread seven years later. She last logged on to this site in July 2012..