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PPI Help, nobody wants to pay out
MrsT79
Posts: 4 Newbie
Hello,
In 1198 my husband took out a credit card (which is still active). The original company that he took the credit card out with has been sold to HSBC, then to MBNA.
MBNA have refused our claim, saying that our agreement wasn't with them, now HSBC have sent us a letter claiming the same thing. The original company does not exist any more.
Any advice on what we can do now is much appreciated!
Thanks a lot!
MrsT79
In 1198 my husband took out a credit card (which is still active). The original company that he took the credit card out with has been sold to HSBC, then to MBNA.
MBNA have refused our claim, saying that our agreement wasn't with them, now HSBC have sent us a letter claiming the same thing. The original company does not exist any more.
Any advice on what we can do now is much appreciated!
Thanks a lot!
MrsT79
0
Comments
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In 1198 my husband took out a credit card (which is still active).
Living to a ripe old age then
PPI Help, nobody wants to pay out
it isnt that they dont want to pay out. Your complaint hasnt even got that far. it is finding who has the liability for the sale. With active cards, it is typically whoever the current card provider is.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Oh sorry, of course I meant 1998
The current card provider is MBNA. They bought the accounts a few years ago in 2008.
We got in touch with MBNA but they refuse to help stating that it's HSBC's responsibility: Your credit card aacount was opened with HSBC on 17 December 1998. You purchased PPI on your account on the same date. Your credit card was later transferred to MBNA on 06 September 2008 and the PPI continued on your account with us with effect from this date.
The original agreement was with the company Beneficial Bank (Beneficial Finance). Part of the Beneficial Bank accounts was sold to MBNA, the other one to HSBC. MBNA claim it's not their problem, now HSBC claim the same.
Am I wrong in thinking that one of them should accept liability?
Thanks for your help!
MrsT790 -
If you have had a rejection on liability from both then refer the complaint to the FOS and let the FOS decide. One of them should carry the liability.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Thank you very much for your help, dunstonh
! 0
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