A bit of advice please

andwarn

Hello
I applied for PPI refund on HSBC mortgage and First Direct credit card using Resolver. HSBC and FD took forever to reply through Resolver, and their replies in both cases were: as I had signed a form with the PPI details, I had no case and they rejected my case.

Surely this isn't correct, the whole point of PPI is that the damn things were never usable in the first case and the banks were selling us all a crock.

Also, I'm suspicious of FD in that: they paid me up a significant amount of PPI compensation a few years ago (unsought by me, they wrote and told me that they owed me out of the blue), and it feels like they don't want to pay out any more money.

Any advice, ideas, suggestions gratefully received.

Thanks

-taff

You've had the money back form First Dirct, youwont be getting any more, unless you took it out just prior to 3005 and you didn't get a refund of the interest added.
Mortgage PPI is not the same as loan or credit card PPI, you don't say what type it was either.

[Deleted User]

andwarn wrote: »

the whole point of PPI is that the damn things were never usable in the first case and the banks were selling us all a crock.

Certainly not all PPI was mis-sold. Obviously you were unable to present a convincing argument that yours was a "crock". In what way do you think was your PPI "unusable"?

andwarn wrote: »

I'm suspicious of FD in that: they paid me up a significant amount of PPI compensation a few years ago (unsought by me, they wrote and told me that they owed me out of the blue), and it feels like they don't want to pay out any more money.

Present them with a valid and compelling complaint and all the Banks will refund PPI that has been mis-sold
regardless of previous payments.

You haven't given anywhere enough detail of what you complained of and why the Bank(s) rejected the complaints. If you do, we can comment further.

Do note that you can refer your complaints to the Ombudsman if you feel you have been rejected unfairly.

-taff wrote: »

You've had the money back form First Dirct, youwont be getting any more,

That's not clear from the OP's post either.

It may well be another account he has complained about separate to the original payout.

Is it likely that he has "complained" about PPI he has already been refunded?

dunstonh

Surely this isn't correct, the whole point of PPI is that the damn things were never usable in the first case and the banks were selling us all a crock.

Why do you think that? How do you explain the fact you can still by MPPi today and that the FOS reject most MPPI complaints?

andwarn

The PPI that First Direct paid out in the first instance was for personal loans, I never applied to them about PPI, as I said FD contacted me with the refund. The PPI that I have pursued with them, that have rejected was for a credit card. My complaint is 1) I took out the card over the phone (as FD is a tel bank) and as far as I can recall 15+ yrs after nothing was discussed re PPI. Like most ppl I thought PPI was a good idea, not realising it was unusable. I signed for it, but I signed for something unusable.

dunstonh

Like most ppl I thought PPI was a good idea, not realising it was unusable.

Which is why you can still buy good types of PPI today. Such as MPPI.

I signed for it, but I signed for something unusable.

If it is unsuitable, why does the regulator still allow it to be sold? Because it is not unsuitable.

Loan PPI is nearly always bad. That is why you cant get that one nowadys. Do not assume all PPI is bad.

andwarn

Ok, but I took out the PPI on the credit card in the same way as as I took out the PPI on the loans which FD refunded me unbidden. So are they correct in rejecting PPI claim on the credit card?

dunstonh

andwarn wrote: »

Ok, but I took out the PPI on the credit card in the same way as as I took out the PPI on the loans which FD refunded me unbidden. So are they correct in rejecting PPI claim on the credit card?

Loan PPi has product issues. Such as single premium added to debt front loaded. Credit card PPi has some issues but not as many as loan PPI. So, you tend to find most loan PPi complaints gets upheld. Credit card PPI is around 50/50 and as mentioned most MPPI fail. PPI is not one thing. The PPI provider on their loan PPI was often different to the PPI provider on their credit card PPI or mortgage PPI.

The sales process for card PPI was also often different to loan PPI. Most credit card PPI was added post sale over the phone. Whereas loan PPI was added at the start before the agreement was signed.

First Direct rejected your complaint and they would state why they rejected it. That is the key thing and you havent mentioned that.

andwarn

I haven!!!8217;t got the paperwork to hand, but I!!!8217;ll come back with it tonight. Thanks for the help so far.