ppi reclaim newbie

jeni29uk

Hi ya everyone

In need of abit of help please :-)

I had some credit cards and a loan out when I was younger and thought I'd try to reclaim the ppi on two of them (to start with as I've never done it before )

Unfortunately they are quite old ( over ten years) but I do have the paper work etc for them so I thought I'd give it a try.

One got back to me today (HSBC visa card) saying that they couldn't find me or any paper work on their system and for me to send more information.

I had already sent them the statements, credit agreement and account number for the card (all copies) so I have nothing else I can send.

I just wondered if it was worth sending the info etc onto the ombudsman or do I leave it there?
The account was closed in 2005 so I know I'm trying my luck anyway.

Thanks in advance for your help

DCFC79

You can try the ombudsman, doesn't cost anything.

jeni29uk

Thank you, I'll give it a go

DCFC79

You must complain to the ombudsman within six years of the event complained about, or three years after you first became aware that you may have grounds for complaint, whichever is longest. For example, if you were sold PPI in 2005, you may still be able to take your complaint to the Financial Ombudsman Service if you only became aware of the possible mis-selling last year.

From here http://www.bbc.co.uk/programmes/articles/46Cy2PJRJzNp3GbCXxZXKG5/payment-protection-insurance-ppi

You can try for sure, the cost will tell you if your out of time.

jeni29uk

Thank you unfortunately the account was closed in 2005 and opened in 2002
But I did read the link you gave me and it does mention that expired ppi's may still have a chance so ill give it a go
Thank you again for your help

wolverines

Strange one really, people have made complaints on accounts much older than your dates. Basically, if you can provide a CCA showing that ppi was sold and statements showing it was actually paid they should be considering the complaint. What additional info have they asked for? I would go back to them about it first as their response does not seem correct.

jeni29uk

The reply letter was quite basic just stating that they were unable to locate and to send additional information such as account numbers statements etc which I had already sent with the first complaint letter

So maybe send it all back with a letter mentioning that I have given them all the info already and that I will be sending it off to the ombudsman if I don't receive a proper reply from them?

dunstonh

Loans are easier to deal with old accounts as they can recreate the records on the limited data they have. Whilst agreements and statements may have long been destroyed, often the loan value and amount is retained. So, the FOS expect them to recreate the PPI premium that would have been paid.

With credit cards, its harder as the PPI premium would be different each month based on the amount not repaid by the individual. So, statements are needed to see what amount was paid. Most card providers destroy statements after a number of years. Especially on closed accounts.

Where the provider holds no records, they are required to use your records where you can supply them. If neither the provider or the individual hold records then its usually game over.

In this case, statements appear to be available and provided so the response is wrong from HSBC. Go back to them and say statements were provided and if they still refuse then go to the FOS.