Advice 22 January 2021 at 1:22PM in Reclaim PPI & other insurance 11 replies 221 views

Amandah270

I received a telephone call a few weeks ago from HSBC advising that I had ppi on a mortgage I had in 1996 and they would look into it.
However today I received a payment of £110 on the statement it said Redress pii account,Does this mean that is all I am owed? I've received no correspondence and have tried to ring HSBC but to no avail.

Retiredwelshman

Yes - why would they pay you the wrong amount?

Amandah270

I just thought after paying ppi for 20 years it would have been more?

brettcta

Amandah270 said:

I just thought after paying ppi for 20 years it would have been more?

Send them the statements that show that you’ve paid more premiums and ask them to recalculate.

Amandah270

brettcta said:

Amandah270 said:

I just thought after paying ppi for 20 years it would have been more?

Send them the statements that show that you’ve paid more premiums and ask them to recalculate.

Many thanks I will definitely ask them,Would you happen to know what the term redress ppi account means?

Retiredwelshman

Amandah270 said:

I just thought after paying ppi for 20 years it would have been more?

So did you actually pay for 20 years?

brettcta

Amandah270 said:

brettcta said:

Amandah270 said:

I just thought after paying ppi for 20 years it would have been more?

Send them the statements that show that you’ve paid more premiums and ask them to recalculate.

Many thanks I will definitely ask them,Would you happen to know what the term redress ppi account means?

As I don’t work for HSBC, I do not, however I would hazard a guess that it’s a redress amount for PPI which you’ve complained about.

probably for Plevin, in which case sending statements would be pointless. Speak to HSBC.

dunstonh

I just thought after paying ppi for 20 years it would have been more?

Perhaps they rejected your complaint and you are only getting a Plevin refund?
The letter you receive (when you get it) will tell you.

[Deleted User]

Wait until you get a letter or email, or ask their staff what the refund is for - commission for example, would be Plevin

A refund of PPI for 20 years would be higher, if you paid a lot of PPI. Remember though, it is only if you had PPI that long it matters - if you cancelled the policy, or remortgaged and didn't take out PPI then it would have been less. Regardless, PPI on a mortgage was, and still is, considered a good thing, if set up correctly. It's highly likely they rejected the complaint for miss-selling (as is logical, after all most people would want to protect their home if they lost their job or were unable to earn) and paid out for another reason

KathinPompey

Hi, I paid PPI premiums for over 20 years on my RBS credit card.  Made a PPI complaint April 2019 and was made an offer June 2019, but it only covered just over half of what I reckon I'd paid out in premiums.  So I sent them additional information detailing the premiums I'd paid with information from my statements.  I wrote to them with this in August 2019 (bad timing), November 2019 and June 2020 (Royal Mail signed for so I know they received).  I'm still waiting for a response 73 weeks after my original letter.  I've phoned the PPI team monthly to be told just to wait.  In November 2020 I received a letter from the RBS PPI saying that as they had not heard from me (incorrect obviously) I now had 12 weeks to accept their offer of June 2019 or it would be withdrawn.  I phoned the PPI team and they said that as I'm in dispute the 12 weeks doesn't apply.  But I have nothing in writing from RBS; they have never acknowledged any of my letters/information.  I don't know what to do - if I accept the offer that will mean I forfeit what I think I am owed, but if I don't they will withdraw the offer.  I think they are just waiting it out so they don't have to pay what I believe I am owed.  But the most frustrating thing is their refusal to write to me.  I'm sure others must be in similar situations - what have they done?  I've searched the forum; there are thousands of pages of posts on this topic but I haven't been able to find this specific issue, so if someone else knows where this has already been addressed, I would be really grateful if anyone can post me a link.

dunstonh

Made a PPI complaint April 2019 and was made an offer June 2019, but it only covered just over half of what I reckon I'd paid out in premiums.

An upheld complaint would see a refund of premiums paid plus interest.    A rejected complaint could still see you get some refunded if the commission was in excess of 50%.   So, was yours an upheld complaint or a rejected complaint but paid out under the plevin ruling (unfair commission)?
Or is it a case there is no record of premiums paid over a period/

I wrote to them with this in August 2019 (bad timing), November 2019 and June 2020 (Royal Mail signed for so I know they received).  

Don't assume it was received because of that.  For example, if it is a PO Box address then it is not signed for and just ends up in sack with the rest.    And a lot of signed for mail is actually signed by the postman and not the recipient.  

I don't know what to do - if I accept the offer that will mean I forfeit what I think I am owed, but if I don't they will withdraw the offer.  I think they are just waiting it out so they don't have to pay what I believe I am owed.

Have you asked them if they received the proof of premiums paid you sent?