Hsbc

Louisetickell

I had two loans containing PPI about 15 years ago with the HSBC. I cannot find any of the documents and after contacting the bank, they claim to have lost the information required. Is there anything I can do?

[Deleted User]

Louisetickell wrote: »

I had two loans containing PPI about 15 years ago with the HSBC. I cannot find any of the documents and after contacting the bank, they claim to have lost the information required. Is there anything I can do?

Send HSBC a Subject Access Request (SAR) letter. It will cost £10. If this returns no details of your loans from 15 years ago then the Bank have not "lost" the information; they have been destroyed in line with data protection guidelines..

Kate_fixing_it

I had that standard response from HSBC a couple of years ago and dropped it. However, I was able to remember the payment amount and the account it was repaid from. I adjusted the PPI letter template to include these details and it suddenly turned up.

One call and 6 days later I'm awaiting a payment of just short of £2800! I was expecting around £900 if my complaint was even upheld 12 years after I took the loan and 7 years after it was repaid.

A SAR seems to be the right way to go.

Good luck!

Nasqueron

Kate - the front line staff at the banks (phone or in branch) often don't have access to archives, just what is on their screen. When you send the SAR they have to dig through whatever records they have that may contain old accounts like yours.

If I was a conspiracy type I would suggest banks are being more vigorous in destroying old data beyond the 6 year guideline thanks to the PPI reclaiming industry

Cleared_the_Decks

Inspired by many of the "long-shot" cases, I've read on MSE this evening, I've been inspired to see if I can (somewhat greedily and cheekily) claim against HSBC too but my situation is different.


I also took out a loan with HSBC and no longer have any paperwork etc. but unlike kate_fixing_it, I defaulted on the loan in 2002/3.


I understand that HSBC can keep any redress due to off set any outstanding debt but as the loan was for approx. £5,000 is there anyway to calculate what any redress might be (i.e. is it worth pursuing even if bank offset?)


As the default no longer appears on my credit file, can I assume it's safe to contact the bank and they won't take legal action to resurrect the old debt? Is there a time limit as to how long banks can pursue outstanding debts?


Apologies if stupid question but you don't ask, you don't find out!



As a separate question, in case any one knows, have the banks stopped mis-selling or is this something that could still have been affecting customers in 2011/12/13?


Thank for any and all help! x

Nasqueron

Officially defaults should disappear from your public credit record 6 years after the date so it should be gone, but the bank is highly likely to have an internal record of you and if they reactivate the debt based on you putting in a PPI claim who knows what could happen - they will absolutely set off any redress against the unpaid parts if they can, I wouldn't like to predict one way or the other.

You would also need to let us know how much you didn't pay back and how long you were paying for and approx interest rate - if you paid back 90% of it you might get something (with a successful case), if you paid back 30% probably not.

If it's "single premium" PPI and there are records left (yours or theirs) you would probably win the case

worriedindebt

Nasqueron wrote: »

Kate - the front line staff at the banks (phone or in branch) often don't have access to archives, just what is on their screen.
If I was a conspiracy type I would suggest banks are being more vigorous in destroying old data beyond the 6 year guideline thanks to the PPI reclaiming industry

I know someone who works for a high street bank and we were talking about ppi claims and they don't deal with them at all, it's all sent off and dealt with by a central department. Most old records are held in storage but the really old loans are hard to trace because branches have closed or, in the case of women, their names have changed when they get married.
She said they don't get to see anything about the claims at all

Nasqueron

worriedindebt wrote: »

I know someone who works for a high street bank and we were talking about ppi claims and they don't deal with them at all, it's all sent off and dealt with by a central department. Most old records are held in storage but the really old loans are hard to trace because branches have closed or, in the case of women, their names have changed when they get married.
She said they don't get to see anything about the claims at all

Yes this is exactly what I mean - if the OP has rung up a local branch or a call centre, the staff there will almost certainly have no records of these old closed accounts and without account numbers they will probably not find anything, hence the SAR to prompt them to look harder