PPI Reclaiming successes and failures

hungersalmon

Hi, just a quick update on my HSBC claim. This has been with the Ombudsman for over a year now and I received a letter yesterday saying that although the bank doesn't accept liability they are willing to make a "goodwill offer" to settle the matter. They asked for 8 weeks to calculate this offer but stated that it should be based on the same principles that the Ombudsman would use, apparently (i.e. with the 8% interest included). I know I still have a long wait to receive the money but thought others who are waiting to hear from HSBC could use some positive news!

di3004

hungersalmon wrote: »

Hi, just a quick update on my HSBC claim. This has been with the Ombudsman for over a year now and I received a letter yesterday saying that although the bank doesn't accept liability they are willing to make a "goodwill offer" to settle the matter. They asked for 8 weeks to calculate this offer but stated that it should be based on the same principles that the Ombudsman would use, apparently (i.e. with the 8% interest included). I know I still have a long wait to receive the money but thought others who are waiting to hear from HSBC could use some positive news!

That's fab news :T Congratulations!:beer:

hungersalmon

Thanks! Didn't think I'd ever hear back from them so it was a nice surprise!

di3004

hungersalmon wrote: »

Thanks! Didn't think I'd ever hear back from them so it was a nice surprise!

Aww, well we are ever so chuffed for you, well done! x:j;)

amersall

mumofjanda wrote: »

Don't worry, all us members of the 'NUMPTY CLUB' will be experts on the 8% Rule by the end of this!!:j:rotfl:

PMSL :rotfl::rotfl::rotfl::cool::cool:

amersall

mumofjanda wrote: »

Thanks again Niggly!

Think I will accept the offer and the first thing I'm going to buy is a calculator like yours!:D

Get me one too :D;)

Little_Miss_Uni-Debt

Thanks to Di and Amersall for your advice.

My loan ran from July 07 and was paid in full Oct 09. I originally complained to HSBC via a series of letters in Feb 08 because they had mis-sold me and incorrectly advised me when I actually tried to claim.

They told me I could only cancel the policy and that I couldn't get a refund of premiums paid to date. They took a very odd amount off the remaining loan in Mar 08 - £373.27 and my monthly payments dropped by £15.

I am currently presuming that my PPI premium was £15 x 9 payments made, though this doesn't add up with the cancellation amount.

Hopefully my SAR will shed some light on the matter of the odd numbers and give me my exact premium.

Say I get my 9x £15 premiums back plus the 8% from when the premium was taken to date - I calculate this as :-

£135 premiums
£40.50 8% interest
Total possible refund of £175.50

Does this look about right?

Thanks guys! :j

julieprit2

Well after seeing yet another post from someone last night saying that Lloyds have settled their complaint and this one was from March (Sorry can't remember whose it was!) I decided to email their customer care and ceo again.

Have been emailing about once a week but keep getting told 31st August etc and that they are dealing with complaints in strict date order. Also had one saying "to ensure potential redress is correct it may take some time etc. etc." email also.

Anyway, I emailed them again last night and said I fail to see how they are dealing in strict date order if claims from March are being settled and mine has been ongoing since October 2010. No response yet but will let you know what they say :eek:

Also had a letter from FOS regarding my Dorothy Perkins Store Card (though they had written Santander (Debenhams?). Basically they have referred it to the underwriter/insurer so will see what comes of that.

Still not a dicky bird from Barclaycard - anyone else heard?

Good luck for all you receiving letters today!

nickfezz

Just had a result from American Express.

As a gesture of goodwill they will be repaying my premiums on my credit card of £444.22 plus interest of 116.12.

I only sent the initial letter last Tuesday.

Citi Financial on the other hand have basically told me to go away and referred me to the FLA. What should I do now? Is this a standard letter from Citi? Are they trying it on in the hope I do go away?

Thanks to all on here for their invaluable advice. I've not posted much but have been guided by Di and Amersall, many thanks

Derwent

Hi All

I've just received my offer letter from HSBC but they appear not to be adding on the contractual credit card interest of 29.9% APR

The offer is basically a refund of premiums plus 8% simple interest.

Are they obliged to repay the contractual interest as well ?