Should i contact HSBC if claim company advise not too?

HSBC_PPI_newby

I have used the help of Consumer Finance Claims to make a claim against HSBC for two loans, one from 2004 that was refinanced into a new loan in 2005.
They were both single premium ppi loans so were therefore considered mis-sold especially as I had a history of previously re-financing. Also ppi on hsbc credit card that I had tried to get removed and this was declined by hsbc.

CFC sent me a letter dated 1st May to say my documents have been received and sent on to HSBC.
18th May got another letter to say HSBC wanted a form completed and they have done it on my behalf and could I just sign where indicated and return it to the to send off to HSBC. I sent it back the next day recorded delivery.

It has now been nearly 11 weeks since 1st May and just over 8 weeks since 18th May I still have no repsonce from HSBC regarding my claim.

My paperwork evidence ie loan agreement copies etc were returned to me by CFC on 25th June and I received a further letter on 28th June saying the claim continues to be investigated reminding me to not enter into any direct correspondence with HSBC and saying that HSBC may copy me into some correspondence.

The reason for my post is due to terms from cfc and the letter stating to not enter into correspondance with the bank myself, I want to know if anyone could advise if this REALLY would have an impact on my success or not.

I rang CFC and they said that I should not contact HSBC to chase up but they have had some banks/building societies contact them to say they were extrememly busy and requesting an additional allowance of time to respond regarding the claims.
They give an approximate estimate of a further four weeks or so.

Should I obey CFC and wait patiently without contacting HSBC myself, or should I take it into my own hands and chase up HSBC to see where they are with regards to the investigation and how would it affect my claim if I was to just call them to see how long the claim could take.

[Deleted User]

HSBC_PPI_newby wrote: »

The reason for my post is due to terms from cfc and the letter stating to not enter into correspondance with the bank myself, I want to know if anyone could advise if this REALLY would have an impact on my success or not.

The real reason they don't want you to have direct contact with the Bank is that, if you do so, you'll realise you could have done it all yourself and what a chump you've been in engaging their services in the first place!
Sorry to be so blunt!

I cannot believe
'HSBC wanted a form completed and they have done it on my behalf and could I just sign where indicated and return it to the to send off to HSBC."
That means they could have put random and untrue reasons on your Ombudsman Questionnaire and you just signed and returned it???

Having said all that, the Banks are absolutely snowed under with PPI complaints at the moment, due in no uncertain terms to the Claims Management Companies forwarding even the most spurious complaints.
So I'd wait a little longer, but push your CMC-that's what you are paying them for!

magpiecottage

Did the form you received from HSBC look like this one?

Did the CMC ever provide you with a COMPLETE COPY of that form to check, sign and return to it?

Did it simply provide you with the final page of that form to sign and return to it?

HSBC_PPI_newby

please don't shout at me, I have never made a claim before and assumed that they were doing what was right and correct, I had sent them a letter explaining all the details behind me having ppi added onto a loan as I was told by hsbc that it would probably have a better chance of being accepted it I did and how I re-financed the loan roughly 10 months later after moving but it did look like page 10, it was the one page I received and nothing else has ever been provided to me, I have spoken to them on the phone to ask what reasons they used after finding the helpful information on this site, and after realising that my loan had single premium ppi on it, they assure me that they put that as a reason for the mis-sell.

I know it was naive and foolish but I trusted the company and didn't realise there was so many crook companies around.

Their terms seemed ok as they state their fees are 20% of any redress and that includes vat.

I will contact them for a copy of the info they sent HSBC

[Deleted User]

HSBC_PPI_newby wrote: »

Their terms seemed ok as they state their fees are 20% of any redress and that includes vat.

That's 20% of your redress which you would have had in your own pocket!
Too late now, of course.

(Did I say that quietly enough for you?;))

HSBC_PPI_newby

I know that now, but at least if the claim is upheld, which looking at other comments from other claimants it should be due to it being front loaded single premium, it will be money I don't have at the minute and may not have had if I hadn't bitten the bullet in getting a company to do it for me as I was too intimidated to claim direct against the bank because of the way they have treated me like scum in the past and made me to feel like a beggar for going to them to try get help in the form of loans to get myself out of financial issues not caused by myself, just plain back luck from circumstances.

So regarding my initial question, what do I do about chasing up HSBC and will not seeing the whole form from Consumer Finance Claims jeopadise my claim?

[Deleted User]

HSBC_PPI_newby wrote: »

So regarding my initial question, what do I do about chasing up HSBC and will not seeing the whole form from Consumer Finance Claims jeopadise my claim?

Do you really want me to copy and paste my response to your query from post 2 of this thread?:p

To summarise:
Chasing it will have no detrimental affect on your complaint
You'll realise that not contacting the bank directly hurts only you, not them.
The Bank will start writing to you instead of to your nominated representative.
The CMC will still want their fee, even if the Bank send any redress offer direct to you.

As for what the CMC have sent them as your complaint, it's probably an amalgam of the template available for free here;
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

HSBC_PPI_newby

I have just rung HSBC and the nice lady said that they only received the paperwork from Consumer Finance Claims on 28th June so the 8 weeks takes effect from that date.

What the hell have CFC been doing since 1st May, the date they say they sent the paperwork off to HSBC and then the sheet of paper I signed that was sent to me on 18th May?

I know I should have come on this site before, lol.

I completed CFC's own questionnaire, with all their own company logo on the forms answering questions about why the loan was mis sold but if CFC haven't given me proof of the documentation that they have sent to HSBC, are they in the wrong and not adherring to the FOS rules? I am not asking that to try get out of paying them for their services as knew I would have to pay but if they have not done what they should correctly then in effect they are as bad as the banks for mis-selling their service.

Their website infor states:
On average our PPI claims take 12 weeks
We are well versed in dealing with lenders and know which pitfalls to look for which make your case stronger!
On average we achieve offers from lenders within 60 days of submitting a formal claim and have a very high success rate for all PPI claims to date.
No Win–No Fee! We do not charge any upfront fees for PPI claims and if your claim is unsuccessful you pay nothing!
Upon completion of successful PPI claims a 20% fee including VAT applies. Unsuccessful claims are not subject to any payment.

[Deleted User]

HSBC_PPI_newby wrote: »

I completed CFC's own questionnaire, with all their own company logo on the forms answering questions about why the loan was mis sold but if CFC haven't given me proof of the documentation that they have sent to HSBC, are they in the wrong and not adherring to the FOS rules?

It is not CFC's own questionnaire, but simply an adaptation of the standard Ombudsman Questionnaire but with their letterhead.
Our concern earlier was that you might have allowed CFC to send in a complaint which you had neither written nor seen. This wouldn't make your complaint invalid or breach any FOS regulations, but it would have allowed them to simply use stock reasons and form letters which may (or may not) actually apply to you. This could have severely weakened your complaint.
As this is obviously not the case, there is little for you to be concerned about...

I wouldn't be pleased that the Company have taken so long to get your complaint to the Bank, but there seems to have been quite a bit of documentation exchange between you and them during the early period you detail in your first post.

Here's hoping you have your complaint upheld and that you won't feel too bitter afterwards about paying this company so much for doing so little.

magpiecottage

I think you can probably get out of this.

You need to do it as follows:

Write a letter to:

Jennifer Shail
Director
Consumer Finance Claims Limited
10 Roseberry Court
Stokesley Business Park, Stokesl
Middlesbrough
Cleveland
TS9 5QT

[date]

Dear Ms Shail

FORMAL COMPLAINT AGAINST CONSUMER FINANCE CLAIMS LIMITED

I wish to make a formal complaint of misselling against Consumer Finance Claims Limited.

On your website, you say "We are well versed in dealing with lenders and know which pitfalls to look for which make your case stronger".

I have now learned, from a professional compliance consultant, that your regulator, the Ministry of Justice has said, in Client Specific Rule 12 on page 8 of the Conduct of Authorised Persons Rules 2007, "Where a claim is one that falls within the province of the Criminal Injuries Compensation Authority, the Financial Ombudsman Service, the Housing Ombudsman Service or any other recognised dispute resolution procedure, the business must not suggest that a claimant will have a more favourable outcome if he uses the services of the business."

In its Factsheet entitled "Guidance for Claims Management businesses engaged in the Mis-sold Payment Protection Insurance (PPI) sector.", it says "Where the claim falls within the Ombudsman’s province you must not suggest that a claimant will have a more favourable outcome if he uses the services of the Business".

On 17 October 2012, the Advertising Standards Authority published an adjudication upholding a complaint against you this statement was misleading. This can be found at http://www.asa.org.uk/Rulings/Adjudications/2012/10/Consumer-Finance-Claims-Ltd/SHP_ADJ_202931.aspx.

Had you not made your misleading statement on your website I would not have engaged your services.

I am told your regulator, the Ministry of Justice, also made quite clear to you, in Claims Management Bulletin number 14, published in February 2012, that you must follow guidance issued by the Financial Ombudsman Service.

This included ensuring that a copy of the Financial Ombudsman Service's own questionnaire was submitted to any firm against whom a complaint was made.

The Bulletin also told you that "The declaration requires your client to read and sign the form which states ‘that all of the information given in the questionnaire is true and accurate to the best of my knowledge’. You must always ensure that your client has had the opportunity to read and check the information in the questionnaire in its entirety before they sign the declaration."

I have never been sent that questionnaire.

It is therefore quite clear that Consumer Finance Claims Limited is unwilling or unable to follow clear instructions from its regulator and therefore unfit to act for me.

Consequently, I wish you to cancel my agreement with you with immediate effect and without charge. Please confirm that this has been done.

I am sending a copy of this letter to

Ministry of Justice
Claims Management Unit
57 – 60 High Street
Burton–upon–Trent
Staffordshire
DE14 1JS

Yours sincerely

magpiecottage

Moneyineptitude wrote: »

It is not CFC's own questionnaire, but simply the Ombudsman Questionnaire with their letterhead.

It may not be. I have seen at least one where it was different - with lots of leading "yes/no" questions and the one the ambulance chaser wanted you to answer was in bold type.

If the questionnaire IS a match then arguably that part of my template should be removed although FOS claims copyright so it should not be altered.

Doesn't change the misleading advertising though.