PPI Reclaiming successes and failures

Chelly14

Hello!

I read about PPI reclaiming a while back and spoke to my boyfriend who has numerous loans and credit cards. It transpired he had ppi on EVERYTHING and having recently just had to reduce his hours at work (due to a medical condition - luckily he has income protection cover through work) we realised he doesn't really need any of it - and was never asked about suitability etc.

one is with a hsbc loan. he did try and cancel this when he realised (few years ago) but they told him they'd have to set up a new loan and he's concerned that his credit rating will now not allow a new loan.

I've sent off letters to HSBC, Blackhorse, Barclaycard and Capital one. I've also put a bank charge reclaiming letter to HSBC as up until recently he was being charged up to £150 in unauthorised overdraft charges per month! just crazy.

In total i'm claiming back more than 5k for him.

He's had a acknowledgement from HSBC, but basically saying they cannot cancel his HSBC PPI whatever happens.

The FSA have specifically stated that lenders shouldn't put barriers in the way of people cancelling PPI...this just seems to be exactly what they're doing.

He still owes about £4800 on the loan. if the PPI was refunded that would take it down to around £2,900 (more if he gets some statutory interest) and I'm claiming £2400 bank charges for him - so in total he may only have a small amount left owing if I can successfully claim all of this for him.

I just wondered if anyone had any successful experiences with HSBC, as they really seem to be tricky to deal with.

xx

amersall

Chelly14 wrote: »

Hello!

I read about PPI reclaiming a while back and spoke to my boyfriend who has numerous loans and credit cards. It transpired he had ppi on EVERYTHING and having recently just had to reduce his hours at work (due to a medical condition - luckily he has income protection cover through work) we realised he doesn't really need any of it - and was never asked about suitability etc.

one is with a hsbc loan. he did try and cancel this when he realised (few years ago) but they told him they'd have to set up a new loan and he's concerned that his credit rating will now not allow a new loan.

I've sent off letters to HSBC, Blackhorse, Barclaycard and Capital one. I've also put a bank charge reclaiming letter to HSBC as up until recently he was being charged up to £150 in unauthorised overdraft charges per month! just crazy.

In total i'm claiming back more than 5k for him.

He's had a acknowledgement from HSBC, but basically saying they cannot cancel his HSBC PPI whatever happens.

The FSA have specifically stated that lenders shouldn't put barriers in the way of people cancelling PPI...this just seems to be exactly what they're doing.

He still owes about £4800 on the loan. if the PPI was refunded that would take it down to around £2,900 (more if he gets some statutory interest) and I'm claiming £2400 bank charges for him - so in total he may only have a small amount left owing if I can successfully claim all of this for him.

I just wondered if anyone had any successful experiences with HSBC, as they really seem to be tricky to deal with.

xx

hsbc are talking crap, of course they can cancel ppi, this is a delaying tactic, if you got the response in writing from the hsbc TAKE IT TO FOS enclose the letter and put your claim for mis sell. banks shouldnt act like this please dont let them get away with this, keep us posted, good luck

di3004

Chelly14 wrote: »

Hello!

I read about PPI reclaiming a while back and spoke to my boyfriend who has numerous loans and credit cards. It transpired he had ppi on EVERYTHING and having recently just had to reduce his hours at work (due to a medical condition - luckily he has income protection cover through work) we realised he doesn't really need any of it - and was never asked about suitability etc.

one is with a hsbc loan. he did try and cancel this when he realised (few years ago) but they told him they'd have to set up a new loan and he's concerned that his credit rating will now not allow a new loan.

I've sent off letters to HSBC, Blackhorse, Barclaycard and Capital one. I've also put a bank charge reclaiming letter to HSBC as up until recently he was being charged up to £150 in unauthorised overdraft charges per month! just crazy.

In total i'm claiming back more than 5k for him.

He's had a acknowledgement from HSBC, but basically saying they cannot cancel his HSBC PPI whatever happens.

The FSA have specifically stated that lenders shouldn't put barriers in the way of people cancelling PPI...this just seems to be exactly what they're doing.

He still owes about £4800 on the loan. if the PPI was refunded that would take it down to around £2,900 (more if he gets some statutory interest) and I'm claiming £2400 bank charges for him - so in total he may only have a small amount left owing if I can successfully claim all of this for him.

I just wondered if anyone had any successful experiences with HSBC, as they really seem to be tricky to deal with.

xx

Hi there

You have a lot on your plate to deal with then hun.

I agree to that as well, they cannot stop you from cancelling the PPI, I do hope this gets resolved soon and if if you get the chance check through the thread to check on success with these, I am aware there have been much success with these hun.

If you do require any help, please just give us a yell, we will try to help all we can, good luck.;)

Chelly14

Thank you for your quick replies guys!!

HSBC are just pure evil I'd say! They are determined to keep him in a never ending spiral of debt.

Do you know if they do set him up a new loan, to remove the single premium PPI they've added to it, do they re=credit score him, or just set it up?

I've heard Capital 1 are quite fast but am not sure how we'll get on with Blackhorse and Barclaycard.

Can we only contact FOS once the lender has submitted their reply?

di3004

Chelly14 wrote: »

Thank you for your quick replies guys!!

HSBC are just pure evil I'd say! They are determined to keep him in a never ending spiral of debt.

Do you know if they do set him up a new loan, to remove the single premium PPI they've added to it, do they re=credit score him, or just set it up?

I've heard Capital 1 are quite fast but am not sure how we'll get on with Blackhorse and Barclaycard.

Can we only contact FOS once the lender has submitted their reply?

Hi there hun and not a problem.;)

Good luck with these.

As far as I know they just set it all up without the PPI, so that should be fine.

You can contact the FOS once you received the final response, and if your not happy, or say for instance you heard nothing at all in the 8 weeks timescale they have.

http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Hope you get luck with all your claims, fingers crossed to you.;)

christiline

:T Just had letter to say my second claim has been upheld by HBOS with only one letter sent each time ! only one more to go and one with clydesdale bank. I wonder if that will be as easy. Thanks Martin will keep you posted, doing the credit card charges as well.

maxdp

steelercaz13 wrote: »

Hi all

This is what my letter from Halifax said, so I am presuming (hoping!) it includes 8% interest.

My question is, if you have no paperwork relating to the credit card in question, when they come back with a figure that puts you back in the position as if you never took it out, how do you know it's the correct one?? Thanks!

Ask them for the figures they should be able to let you know how they worked it out. If they do not then keep on at them until they do. If you are not sure if it is right post the figures up here and I am sure somebody will help you.

maxdp

Chelly14 wrote: »

Thank you for your quick replies guys!!

HSBC are just pure evil I'd say! They are determined to keep him in a never ending spiral of debt.

Do you know if they do set him up a new loan, to remove the single premium PPI they've added to it, do they re=credit score him, or just set it up?

I've heard Capital 1 are quite fast but am not sure how we'll get on with Blackhorse and Barclaycard.

Can we only contact FOS once the lender has submitted their reply?

Hi As far as I am aware this should not affect his credit score. Really hope you get all this sorted out am sure you will get the miss sold PPI back:D

maxdp

Hi Christiline

A very big well done to you.

smithyfolks

Hi Folks

Just to let you know i posted back in jan about my egg loan PPI claim and yesterday i got my letter back from Egg and they have given me 2891.15 which is the whole sum of the insurance back

Success for people who say they cant do it it will never work

Just do it i thought i would have to wait months but 4 weeks and its all sorted

Delighted:j :j :j