PPI Reclaiming successes and failures

Raquelita

Hi,

Hope somebody out there can help me! I took out a FlexiLoan with HSBC in 1998. I complained recently and received a letter this morning offering £686. For the duration of the loan I was paying £16.76 per month payment protection insurance, and the loan was settled in 2007.

They state in the letter that they are only required to retain information on my account for 6 years and will therefore only refund the premiums paid for the period that records are held i.e. 2005 to 2007. If I have any evidence for the period 1998 to 2005 they will reconsider their offer.

If I am not happy they have referred me to the FOS. The offer is open for a period of six weeks. I think the process with the FOS will take at least 8 weeks. I'm not sure what to do. I know I paid PPI for the years 1998 to 2005, but I have no way of providing evidence, as I no longer have the statements.

I'm really annoyed as I know they know I paid it to, and think I am entitled to it, as it would be quite a large sum of money. However, I do not want to walk away from this with nothing at all.

Is it worth pursuing this with the FOS?

Any advice would b greatly appreciated.

Thanks

Derwent

Just got my revised offer through from HSBC.

They originally offered £1,612 which I rejected as they had not applied contractual interest.

After recalculating they have made a revised offer of £4,177 which is a very nice improvement.

So the message is keep pushing for the contractual interest because it does make a significant difference and you are entitled to it.

Riggsy1367

Derwent wrote: »

Just got my revised offer through from HSBC.

They originally offered £1,612 which I rejected as they had not applied contractual interest.

After recalculating they have made a revised offer of £4,177 which is a very nice improvement.

So the message is keep pushing for the contractual interest because it does make a significant difference and you are entitled to it.

:T:TWell done Derwent! I'm sure HSBC were just thinking "what's 2.5K between friends".;)

Derwent

Riggsy1367 wrote: »

:T:TWell done Derwent! I'm sure HSBC were just thinking "what's 2.5K between friends".;)

Well they have given me a 'goodwill gesture' of £100 for their 'mistake', so that was nice of them

The_Marksman

Raquelita wrote: »

Hi,

Hope somebody out there can help me! I took out a FlexiLoan with HSBC in 1998. I complained recently and received a letter this morning offering £686. For the duration of the loan I was paying £16.76 per month payment protection insurance, and the loan was settled in 2007.

They state in the letter that they are only required to retain information on my account for 6 years and will therefore only refund the premiums paid for the period that records are held i.e. 2005 to 2007. If I have any evidence for the period 1998 to 2005 they will reconsider their offer.

If I am not happy they have referred me to the FOS. The offer is open for a period of six weeks. I think the process with the FOS will take at least 8 weeks. I'm not sure what to do. I know I paid PPI for the years 1998 to 2005, but I have no way of providing evidence, as I no longer have the statements.

I'm really annoyed as I know they know I paid it to, and think I am entitled to it, as it would be quite a large sum of money. However, I do not want to walk away from this with nothing at all.

Is it worth pursuing this with the FOS?

Any advice would b greatly appreciated.

Thanks

Hello There,

I had the very same thing with Egg from a loan from 2000 closing 2002. Have they stated this is their finale decision? They didnt on mine and so i wrote back to them & they changed their minds and upheld my complaint. I had no information apart from an account number. In my case i phone Egg gave them the account number and asked them to break down the figures of my loan. They gave me total cost of loan, amount of ppi, term & the monthly repayment. The amount of ppi was in important as how could they say they needed more evidence when they gave it too me in back and white. I suggest you try this, by calling them or better still go into your local branch if you bank with them and ask for a statement first from 1998 & the 2004 etc then ask in branch you require the break down of your loan.

I will PM you my letter i sent back,once i find it..... this is a fob off have a read and amend it to suit you.

hope this helps

The_Marksman

Derwent wrote: »

Just got my revised offer through from HSBC.

They originally offered £1,612 which I rejected as they had not applied contractual interest.

After recalculating they have made a revised offer of £4,177 which is a very nice improvement.

So the message is keep pushing for the contractual interest because it does make a significant difference and you are entitled to it.

:rotfl::j:beer: WELL DONE :beer::j:rotfl:

AnnSmith_2

Hi there

I'm really sorry to jump on someone else's thread, am new to the forum & can't see how to create a new one.

I am in process of submitting a claim for mis-sold mortgage PPI. Have rung the insurance company to ask for copies of my agreement etc. and they told me that I have to send my claim to the Financial Services Authority and not them, as the IFA was not a representative of theirs, and so its nothing to do with them. Is this correct? Or do I proceed with sending it to the insurance company?

Can anyone help me?

Ann

IANC

Derwent wrote: »

Just got my revised offer through from HSBC.

They originally offered £1,612 which I rejected as they had not applied contractual interest.

After recalculating they have made a revised offer of £4,177 which is a very nice improvement.

So the message is keep pushing for the contractual interest because it does make a significant difference and you are entitled to it.

Nice :beer::j

snowy316

After following the easy steps and using the template letters i sent off the form to capital one with reference to a credit card i had had for 10 years or so, thing is i didnt even no i was paying PPI as there was no trace of it on the online statements, within 3 week letter back saying going to be refunded £1358.00!! Happy Days, have also sent letters to M B N A, Had 2 cards with big balances since 1998, have cleared one 2 years ago and have sinced learned that i have being paying PPI on that card since 1998, with a average balance of £3500.00, anyone who is a bit unsure about claiming please please please dont be, follow the step like i did and you could be quids in, after all its your money not theirs, thanks to all at money saving expert for the tools to do the job:beer: 9/8/2011

The_Marksman

snowy316 wrote: »

After following the easy steps and using the template letters i sent off the form to capital one with reference to a credit card i had had for 10 years or so, thing is i didnt even no i was paying PPI as there was no trace of it on the online statements, within 3 week letter back saying going to be refunded £1358.00!! Happy Days, have also sent letters to M B N A, Had 2 cards with big balances since 1998, have cleared one 2 years ago and have sinced learned that i have being paying PPI on that card since 1998, with a average balance of £3500.00, anyone who is a bit unsure about claiming please please please dont be, follow the step like i did and you could be quids in, after all its your money not theirs, thanks to all at money saving expert for the tools to do the job:beer: 9/8/2011

:rotfl::j:beer: WELL DONE :beer::j:rotfl: