PPI Reclaiming successes and failures

skooldaze

Hi

I logged my PPI complaint with HSBC about 8 weeks ago. 4 weeks ago they asked me to send back the ombudsman form and they wrote back to me 2 weeks ago saying they were still investigating.

Its from a graduate loan back in 2003 where I had PPI on a 4k loan.

Is the time taking purely because of the pure volume at the moment?

[Deleted User]

skooldaze wrote: »

Hi

I logged my PPI complaint with HSBC about 8 weeks ago. 4 weeks ago they asked me to send back the ombudsman form and they wrote back to me 2 weeks ago saying they were still investigating.

Its from a graduate loan back in 2003 where I had PPI on a 4k loan.

Is the time taking purely because of the pure volume at the moment?

No, it's the standard format. Two weeks until acknowledgement letter, a further update then (hopefully) full and final at around eight weeks.
You can go straight to the Ombudsman after eight weeks have elapsed, but the general consensus would be to wait until you've had a rejection.

[Deleted User]

milkyshake68 wrote: »

I feel very let down by Lloyds and feel Im being penalised when all I was doing was being truthfull!!

Tell us exactly how the Bank worded your rejection and we'll advise what your response to them (or the Ombudsman) might be.
Don't give up.

dai1927

amersall wrote: »

CT are who you deal with, what reasons did you use for mis sell with this?.

When you get a response from CT please post up what they say to you and i will help you further.

The reason i used with Firstplus was that i was told that the PPI would help with your application and it would possibly get rejected if not taken out, but there are more reasons i want to add i.e front loaded interest, the 5 year cash back not being explained fully and interest being paid on the full term of loan, they are ringing me tomorrow so i will see what they say, but im not confident they will uphold, has anyone else had any success with CT capital.

milkyshake68

The banks response was....
'After considering all the evidence I have to disagree that the polcy was mis- sold.You were eligible for the policy, we acted fairly in selling the policy to you, the policy was suitable for you, we clearly demonstrated that the policy was optional and the advisor did not mislead you in any way. In light of my findings, I feel the advisor acted fairly and reasonably throughout the sale allowing you to make a fully and informed choice.I can confirm it has never been a requirement to take out a ppi policy when applying for a card, that decision was yours.If you do not agree with our decision please contact us. If we do not hear from you by March 21st I will close your complaint and consider it resolved' However the letter wasnt dated until March 23rd anyway!!
Is it worth taking this any further!!

[Deleted User]

milkyshake68 wrote: »

If we do not hear from you by March 21st I will close your complaint and consider it resolved' However the letter wasnt dated until March 23rd anyway!!
Is it worth taking this any further!!

Sounds like you simply made verbal accusations about the seller in your complaint. The Bank has simply refused to accept these allegations. In other words it's your word against theirs.
Do you have anything else to add to your complaint? Check here just in case:

http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#ways

Otherwise, it's off to the Ombudsman-but it'll be a long wait.

dai1927

dai1927 wrote: »

The reason i used with Firstplus was that i was told that the PPI would help with your application and it would possibly get rejected if not taken out, but there are more reasons i want to add i.e front loaded interest, the 5 year cash back not being explained fully and interest being paid on the full term of loan, they are ringing me tomorrow so i will see what they say, but im not confident they will uphold, has anyone else had any success with CT capital.

Because its a broker and not firstplus direct and the loan was taken out in May 2003, to me it seems likely that CT Capital will go down the root of it being over the 6 year time scale and they will reject my compliant, anyone agree.

milkyshake68

Moneyineptitude wrote: »

Sounds like you simply made verbal accusations about the seller in your complaint. The Bank has simply refused to accept these allegations. In other words it's your word against theirs.
Do you have anything else to add to your complaint? Check here just in case:

http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#ways

Otherwise, it's off to the Ombudsman-but it'll be a long wait.

Not sure what you mean about verbal accusations.....our main complaint was that we felt pushed into taking out the policy and we were not told it was optional and by not taking the policy we may not be given the card. I've looked on the link and they are very similar points to what we've made? So why have they refused ?

[Deleted User]

milkyshake68 wrote: »

Not sure what you mean about verbal accusations.....our main complaint was that we felt pushed into taking out the policy and we were not told it was optional

Those are verbal accusations which the Bank refute. Again, your word against theirs.

milkyshake68

Moneyineptitude wrote: »

Those are verbal accusations which the Bank refute. Again, your word against theirs.

Does this mean I dont have a case, and how are so many other people having successes, Im obviously not the only person who has listed that they felt pressured into taking the policy or the only person that was told that it wasnt optional!!