HSBC PPI Credit card and Loan claim

filbi

Hi

I found out recently I have PPI on my current HSBC credit card since 2002 and also a loan in 2002 -2003. HSBC have sent me a COPY of my initial agreement in place at the time rather than my ACTUAL agreement. I normally never sign up to anything like PPI and was pretty dumbfounded to find out I have it but am unsure how I got it! I am unable to see if I did actually sign the form box that says Optional PPI.

Has anyone received the same response and did you have any success in still claiming? And does anyone have any advice on what argument I can use given that I have to make the assumption I signed the box. Can I simply opt for - pushy sell?

Thanks!

[Deleted User]

The Bank are allowed to send a copy or reconstituted version of your agreement. What did you expect to see on this document?

You don't need the agreement to make a PPI complaint. What you need are valid and (preferably) verifiable mis-selling reasons.

"Pushy sell" is the weakest kind of complaint since it is "hearsay" that you can provide no evidence of.

dunstonh

HSBC have sent me a COPY of my initial agreement in place at the time rather than my ACTUAL agreement.

They are not required to send the actual agreement. Also, the agreement, whether original, copy or reconstituted copy has nothing to do with PPI and does not aid a PPI complaint in any way.

I normally never sign up to anything like PPI and was pretty dumbfounded to find out I have it but am unsure how I got it! I am unable to see if I did actually sign the form box that says Optional PPI.

So, despite you seeing it on your statements each month going back over 10 years, you are surprised to find out you have it?

And does anyone have any advice on what argument I can use given that I have to make the assumption I signed the box. Can I simply opt for - pushy sell?

That would be a lie though wouldnt it? You said you were dumbfounded to find out you had it. So, how can you complain about pushy sale? Pushy sales clerks can be a valid complaint reason but it loses credibility the longer time goes on. Especially when you contradict yourself in any complaint you make.

filbi

Thanks for your reply. I'm not trying for a quick buck. It was a genuine surprise. I have only recently put quite a large amount on my card and noticed the PPI then. I normally have very low balance amounts so am guilty of not checking my statements.

I assumed that I would need to see my original agreement. As in, if I had signed it, there would be little point in wasting their time further.

I can therefore assume I have no case????

I must have signed it as the signature box is optional. I am simply wracking my brains because I normally am very particular/adverse to signing ANYTHING such as this.

[Deleted User]

filbi wrote: »

I can therefore assume I have no case????

You have no case if you weren't mis-sold.
Take a look here and see if any apply:
http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance

ComeTheRevolution

dunstonh wrote: »

So, despite you seeing it on your statements each month going back over 10 years, you are surprised to find out you have it?



That would be a lie though wouldnt it? You said you were dumbfounded to find out you had it. So, how can you complain about pushy sale? Pushy sales clerks can be a valid complaint reason but it loses credibility the longer time goes on. Especially when you contradict yourself in any complaint you make.

I asked about a PPI payment a couple of weeks ago and the HSBC guy was surprised to find it as I didn't appear to be paying any loan off. I read through my statement to him over the phone so he could find this loan payment. He stated that he'd never seen that product in the five years he'd worked there so it was an old one. He also said it looked like the PPI was 'an intrinsic part of the loan'.

So yes, it is possible the O/P was sold PPI without it being clear at the time. It is also possible not to notice for ten years. Chances are that like me the PPI was bunged in as part of the package in which case he's every reason to claim it back.

dunstonh

ComeTheRevolution wrote: »

I asked about a PPI payment a couple of weeks ago and the HSBC guy was surprised to find it as I didn't appear to be paying any loan off. I read through my statement to him over the phone so he could find this loan payment. He stated that he'd never seen that product in the five years he'd worked there so it was an old one. He also said it looked like the PPI was 'an intrinsic part of the loan'.

So yes, it is possible the O/P was sold PPI without it being clear at the time. It is also possible not to notice for ten years. Chances are that like me the PPI was bunged in as part of the package in which case he's every reason to claim it back.

The OP was on about credit card. not loan. Credit card PPI appears on each monthly statement it is paid. Loan PPI can be harder to find (part of the reason why loan PPI has a higher success rate than credit card PPI).

[Deleted User]

ComeTheRevolution wrote: »

So yes, it is possible the O/P was sold PPI without it being clear at the time. It is also possible not to notice for ten years. Chances are that like me the PPI was bunged in as part of the package in which case he's every reason to claim it back.

It's a myth fostered by Claims companies that PPI is often deliberately "hidden" from the customer. With credit cards it appears on every monthly statement and with loans it appears on the agreement that the customer signs at the outset. Some loans were not set up with PPI as a separate premium and these single premium policies are still the most upheld complaint at FOS. I agree these are also more likely to be missed by customers who have forgotten what they signed for.

All this is moot of course, since it doesn't apply to the OP (who last posted about his complaint back in April so won't be confused by your reply).