PPI Reclaiming successes and failures

harrpau7

This is what I posted a few days ago about my HSBC Credit Card PPI Complaint

‘I have just had a confusing letter back from HSBC regarding my Credit Card PPI complaint. It reads 'With regards to your HSBC Cardholder Repayment Protector, as a result of my investigation I am prepared to uphold your complaint.', so I am thinking that I am going to get some sort of settlement, as all my other complaints have been upheld and I have received money. However the letter then goes onto say 'As your complaint has been upheld, I have not addressed the individual issues raised. As previously mentioned HSBC is only required to retain records on your account for six years. As your policy was cancelled in December 2005 I have been unable to locate any evidence of your paying any PPI premiums. If you have any statements showing PPI was paid, then please forward for my attention, which I will be happy to review.

This has confused me, first of all if they are upholding my complaint, I thought (based on my other complaints) that that meant my claim was successful and that I would be due a refund? Secondly, they say the policy was cancelled in December 2004, my card is still active to this day (zero balance though)! And thirdly, December 2004 is more than six years ago, so how would they know this information if they only keep records for six years?

So I just wish to know, do I have a case to ask them to re-open this investigation, any feedback would be brilliant, thanks :-). ‘

After some advice on here from Moneyineptitude (much appreciated) I have got the SAR letter ready to send off to them, however I also e-mailed HSBC and got a phone call today. On the phone call the guy advised me that from Nov 2001 to Dec 2004 I had a PPI policy on my Credit Card, however it got cancelled at the end of 2004. We also discussed PPI from my Loan from October 2004 to August 2005, redress on that has been paid to me from August 2005 until loan closure. So in total I could have nearly 4 years of PPI refund to come my way, however HSBC have said until I provide proof, they cannot obviously calculate a refund.

If the SAR does not provide me with anything, should HSBC offer me a goodwill offer? Obviously they cannot calculate a correct offer if the paper work isn’t available but they have admitted that PPI was paid for 3 years on my Credit Card and that has been upheld by themselves. I argue it isn’t my fault I don’t have the paperwork, they have admitted it was mis-sold, surely they should move to compensate me? Same for the 10 months of the Loan prior to August 2005. They are in the wrong, it’s not my fault I don’t have the paperwork, it was 7 odd years ago. If they have admitted liability and the SAR doesn’t return anything, should I press both HSBC and the Financial Ombudsman for compensation?

[Deleted User]

harrpau7 wrote: »

. If they have admitted liability and the SAR doesn’t return anything, should I press both HSBC and the Financial Ombudsman for compensation?

Of course!
Unfortunately, it will obviously be far less than if you had documentary proof from that period.
You won't know for sure until your SAR is returned.

pwppio

can anyone tell me what a reasonable waiting time is to receive funds after claim is upheld and redress amount accepted? We are being told up to 3 months.

weewen

amersall wrote: »

The FLA are rubbish, but you can try them it won't hurt.
The FOS has no jurisdiction due to the year this was taken out, you could try the Insurer for a mis sell claim and if they say no, then FOS may help.

Hi, i have complained about Evans too but it turned out it was not Santander who were the underwriters it was financial services ltd (or something like that) . It is currently with FOS.

[Deleted User]

pwppio wrote: »

can anyone tell me what a reasonable waiting time is to receive funds after claim is upheld and redress amount accepted? We are being told up to 3 months.

Seems to depend on the Lender concerned.
LloydsTSB seems to be the slowest currently.

calw

paid_too_much wrote: »

I ticked no to the box when I applied for the card I was mis sold the insurance when I called to activate the card in the summer of 2004, I remember the guy waffling on for ages about how it would cover all my cards and my partners. I had no need for the insurance as I was on maternity leave at the time (SMP so very low) and was returning part time so my partner would have taken responsibility for any payments. I don't remember saying yes. My guess is that if they do still have the telephone conversation on their records it's full of old flannel and they realised they didn't have a leg to stand on. However I expected more of a fight from them than this

I still have Santander to fight though

let me know how it goes and if I can help:)

Obviously capital one were very clever at these sort of tactics, my hubby also took his card out in 2004 by way of a newspaper cut out, he did not tick the box as he was self employed and he new it was no good to him, when he rang to activate the card the bloke tried to sell him ppi asked what his occupation was and said oh ppis no good to you then, but then went on to sell a so insurance if his card was lost or stolen, told hubbie it would cover all our cards and was a fiver a month which of course it was at first, it's only recently after checking his online statements have we noticed its actually ppi and a bit more than a fiver now :mad: was fuming when we saw it, as we both remember very clearly how the conversation went, naughty of cap one :mad:

kev509

pwppio wrote: »

can anyone tell me what a reasonable waiting time is to receive funds after claim is upheld and redress amount accepted? We are being told up to 3 months.

i claimed off yorkshire bank, it took 7 weeks , got £4,500 but if you can prove you were in severe hardship at the time, i.e unemployed, low income then they fast track you.:j

kissitbetta

weewen wrote: »

Hi, i have complained about Evans too but it turned out it was not Santander who were the underwriters it was financial services ltd (or something like that) . It is currently with FOS.

Thanks for the advice everyone. I have completed the FOS questionnaire and plan to send that with the letters to them.

I think they are doing a blanket refusal and if you really want it you have to fight for it. I'm up for that

[Deleted User]

kissitbetta wrote: »

if you really want it you have to fight for it. I'm up for that

So say we all!:D

lottie0207

I just wanted to say a big thank you to Martin and his team. From the information supplied on here, i managed to contact my old bank about my last loan which was over 25K. I got in a terrible mess in my 20s. Took out an IVA in my 30s and this was paid off recently - over a yr and a half ago. I struggled whilst in debt and definatley struggled paying it off. When my friends were all out having a life, i was working bad jobs with silly hours but i learned the value of money again. Anyway, thanks to the team on here, i managed to claim back money i never thought i had. I knew i had loans with Lloyds (who then became Ltsb) but from my initial letter, 3 months later i was sent my cheques. Incidentally i quoted my bank account no and sort code and referred to all loans within that number and i received 8 offers making a total of almost ten grand. I shook when i got the letters. I was mis sold and i paid my debt and no one is entitled to this money other than mr taxman and myself. I will be contacting HMRC to sort this element out but i wanted to urge people to TRY AND CLAIM AS YOU NEVER KNOW. I only expected them to refer to my last loan which was around 2005 so couldnt believe my luck. Some of these loans go back yrs!! They actually had more loan agreements that they had no papers on as it went back so far so i didnt get paid for those but i accepted and within 3 months had a huge amount of money im scared to comprehend. Unbelivable. Thank you Martin and your team. I love you!! xxx