PPI Reclaiming successes and failures

di3004

sarahj1986 wrote: »

Hi all,

I had a loan with HSBC in March 2006, it went as follows-

£4000 repayments at approx £120 per month over 4 year +2 months "breather"from I got the loan to when I started repaying. PPI was added on at £1000 from the begining. I payed the loan until Spetember 2007 when the balance was paid off. When I took out the loan the repayment priceof £120 put to me already included PPI, I was not given the option of removing it, nor was I told it was optional. My Job was full sickness pay and secure. When I had the paperwork put in front of me the PPI was briefly mentioned but not what it was for, or why etc so I was not given the choice on if I needed it. I spoke to HSBC last week and they sent out a questionnaire which I sent back last week. I know they have 16 weeks to replay but what do you guys think my chances are? Are HSBC paying out? Will I be waiting 16 weeks? Also, rough idea on what Id be due back?

Cheers

Hiya

Good luck on your reclaiming.

I'm sure someone will be along soon to work them out for you, although more details will be required, dates etc, they will tell you what you need to post up.;)

RED_FRANKIE

24710274 wrote: »

Hi there my names dave i had a virgin c/c and an mbna c/c both my compliants were turned down because i had "ticked the box" they even sent me copys of the agreements to show me, although above and below the tick boxes in bold writing they Strongly recommended i take out the ppi! Even though i followed there advice they said that i had asked for the ppi so that was that !
Both claims are now with FOS so will see what happens , there now seems to be alot of people being turned down by MBNA for this , d ont give in go to FOS if its there final response .
Good luck dave

Thanks Dave, FOS now for me too, will advise when any news, good luck to you too mate

Sophieh_2

Niggly wrote: »

Did not see the original post just the figures and assumed ppi still being paid. This will effect the figures I have given you. You cancelled the ppi did you get a payment taken off the loan as a rebate?

Things are becoming cleare now.

I will rejig the fig

This is why we need a sticky on calculations you miss posts because this forum is so active

N:beer:

Hi, no we never received any cashback....just a call asking if we wanted to renew it to which I answered NO! Sorry, I thought I had said in a post yesterday that it was a 5 year policy & ran out 2009. Too many posts so perhaps not - confusion reigns! lol

Egg_Chaser_12

Any idea of how long things take once the FOS is involved. I sent my details of including questionnaire last week, do they advice how long or is just a case of getting back to you if they need any more info or with a result?

RED_FRANKIE

lostcount wrote: »

I had the same letter that as I had not replied to a letter from them for more info and that I had tick the box and signed it. They are not upholding my complaint. Surprise I did not receive a letter from them.

So I sent a rather straight to the point e-mail stating this with a couple of quotes from the FSA.

The firm should not reject a complainant's account of events solely on the basis that the complainant signed documentation relevant to the purchase of the policy.

Also;

The firm should not reject a complainant because the complainant failed to exercise the right to cancel the policy.

Also let them know I have passed this onto the FOS. Now it's a waiting game.

Thnaks for the help, lets hope the FOS is good to us all it would be good to hear of any MNBA success via the FOS - then we would perhaps know our chances more ! Thanks again

Sophieh_2

Niggly wrote: »

Did not see the original post just the figures and assumed ppi still being paid. This will effect the figures I have given you. You cancelled the ppi did you get a payment taken off the loan as a rebate?

Things are becoming cleare now.

I will rejig the fig

This is why we need a sticky on calculations you miss posts because this forum is so active

N:beer:

Sorry - meant to say no cashback OR REBATE given to us!

di3004

Egg_Chaser_12 wrote: »

Any idea of how long things take once the FOS is involved. I sent my details of including questionnaire last week, do they advice how long or is just a case of getting back to you if they need any more info or with a result?

Hiya

If you sent them the questionnaire last week, you should receive a confirmation to let you know its received (in the post) anytime from now.
However, as they do have backlogs, it may take some time, for example they say about 6 to 12 months, sometimes it can be resolved before 6 months.
Sit tight, it will be worth it, good luck.;)

Egg_Chaser_12

di3004 wrote: »

Hiya

If you sent them the questionnaire last week, you should receive a confirmation to let you know its received (in the post) anytime from now.
However, as they do have backlogs, it may take some time, for example they say about 6 to 12 months, sometimes it can be resolved before 6 months.
Sit tight, it will be worth it, good luck.;)

I do hope so, its with MBNA and I think it may be a good return, not a record but enough to sort a few bits out at home.

Has anyone on here got any experiance of dealing with the FOS, won or lost?

di3004

Egg_Chaser_12 wrote: »

I do hope so, its with MBNA and I think it may be a good return, not a record but enough to sort a few bits out at home.

Has anyone on here got any experiance of dealing with the FOS, won or lost?

Many of us on here have had a case or 2 dealt with by the FOS, some cases are more complexed than others.
One of mine was a credit card and even though this was about 2 years ago, they did not take that long really, about 6 months in total probably to even paying out.;)

Egg_Chaser_12

di3004 wrote: »

Many of us on here have had a case or 2 dealt with by the FOS, some cases are more complexed than others.
One of mine was a credit card and even though this was about 2 years ago, they did not take that long really, about 6 months in total probably to even paying out.;)

Did the CC company refuse to pay out then? Sorry to ask personal questions, but, as most of us on here probably feel, you and a few others are spurring us on to continue the fight and as MBNA have turned me down I would of given up if you guys didn't tell me to continue using the FOS as big brother.