PPI Reclaiming discussion Part II

kate08

I have been following recent information in the media and on your website regarding PPI on loans. I have a small loan with HSBC with PPI, but am self-employed so am now taking steps to a) cancel my PPI and b) enquire about a refund. As I have a business account with HSBC, maybe I do not qualify for a refund but at the very least I would like to cancel the PPI. I remember distinctly taking out the loan, question marks over the PPI at the time, I knew that I could always cover the loan somehow and paying PPI didn't seem right for my situation, but I followed the advice of my HSBC advisor and took it out anyway. Silly.

I have just called HSBC explained why I was calling, i.e. to speak to someone about my loan and to cancel my PPI. I asked the man on the phone if he knew about the recent media attention on PPI, he said yes, that he would put me through to someone who could speak to me about cancelling my insurance and then, of course, my money would be refunded, could I hold? Excellent, it all seemed too easy. After 8 minutes he came back and said he couldn't put me through to anyone I would have to ring 0845 7606060, HSBC Business Banking. Hmmm?

Called HSBC Business Banking. Explained again to another guy why I was calling, he put me on hold for around 10 minutes before coming back and telling me the department had closed down. Pardon, I asked, what department? He said the 'Business Loan Protection' department had closed down. I didn't quite understand what he was telling me, but he was so definite. I asked when, how, why? He didn't know. How could a HSBC employee not realise an entire department had closed down until trying to get through to it, am I missing something? And how could it have taken almost 10 minutes for him to find this out?? So, I said, HSBC has no 'Business Loan Protection' department, the entire department has closed down? And, I said, you didn't know until you tried calling them?? Yes, he said, I would need to go into the branch where I took out the loan.

Has anyone else had an experience such as this? Could this be described as 'ring fencing' i.e. everyone huddling together and keeping schtum in light of recent media attention??

marshallka

sarahc5388 wrote: »

The glass is not always half empty - sometimes it is half full!!

Thanks for that sarah, thought you'd left us today:D

kate08

Sorry to bother again, I'm a newbie! Has anyone had any experience with HSBC in regards to PPI? I tried to look through all the posts and didn't see them mentioned a lot. I took out a small personal loan with my business bank account face-to-face in my branch. I'm self-employed and am now thinking that PPI would never have been any use to me? Any comments before I start to on my first reclaiming mission??!

Laini

sarahc5388 wrote: »

The glass is not always half empty - sometimes it is half full!!

I agree
I can honestly say I would wait for FOS to say yes or no
I would say they would have said no quite quickly if there was no hope.
please be a bit more positive marshalka
Laini x

Laini

leedspete wrote: »

right i phone my welcome branch today and he basically told me it was my fault that ppi was added because i never read the contract properly.also he told me that i have to prove that i have my own ppi cover or they will cancel my agreement is this correct? also im thinking of using a no win no fee company to get my ppi back whats your opinion on this

I would go to the FOS now
welcome have to prove they have sold correctly NOT YOU
why not see how you get on with doing it yourself then pm Tiggrae for info
Laini xxxxx:j

sarahc5388

marshallka wrote: »

Thanks for that sarah, thought you'd left us today:D

been a bit busy - had all my stuff robbed 4 weeks ago and i have been battling it with my insurers! they finally agreed a settlement figure today and arranged delivery of the replacement items

Laini

sarahc5388 wrote: »

been a bit busy - had all my stuff robbed 4 weeks ago and i have been battling it with my insurers! they finally agreed a settlement figure today and arranged delivery of the replacement items

you poor thing !!!
hope you are ok I know it is very upsetting when this happens -experienced it a few years ago - its not nice
Laini xxxx:j

marshallka

kate08 wrote: »

I have been following recent information in the media and on your website regarding PPI on loans. I have a small loan with HSBC with PPI, but am self-employed so am now taking steps to a) cancel my PPI and b) enquire about a refund. As I have a business account with HSBC, maybe I do not qualify for a refund but at the very least I would like to cancel the PPI. I remember distinctly taking out the loan, question marks over the PPI at the time, I knew that I could always cover the loan somehow and paying PPI didn't seem right for my situation, but I followed the advice of my HSBC advisor and took it out anyway. Silly.

I have just called HSBC explained why I was calling, i.e. to speak to someone about my loan and to cancel my PPI. I asked the man on the phone if he knew about the recent media attention on PPI, he said yes, that he would put me through to someone who could speak to me about cancelling my insurance and then, of course, my money would be refunded, could I hold? Excellent, it all seemed too easy. After 8 minutes he came back and said he couldn't put me through to anyone I would have to ring 0845 7606060, HSBC Business Banking. Hmmm?

Called HSBC Business Banking. Explained again to another guy why I was calling, he put me on hold for around 10 minutes before coming back and telling me the department had closed down. Pardon, I asked, what department? He said the 'Business Loan Protection' department had closed down. I didn't quite understand what he was telling me, but he was so definite. I asked when, how, why? He didn't know. How could a HSBC employee not realise an entire department had closed down until trying to get through to it, am I missing something? And how could it have taken almost 10 minutes for him to find this out?? So, I said, HSBC has no 'Business Loan Protection' department, the entire department has closed down? And, I said, you didn't know until you tried calling them?? Yes, he said, I would need to go into the branch where I took out the loan.

Has anyone else had an experience such as this? Could this be described as 'ring fencing' i.e. everyone huddling together and keeping schtum in light of recent media attention??

Did you ask to speak to a manager? I would of done and told them what the employee had said. I would put HSBC into the search box at the top of the page on "search this thread" and read through some posts there.

marshallka

sarahc5388 wrote: »

been a bit busy - had all my stuff robbed 4 weeks ago and i have been battling it with my insurers! they finally agreed a settlement figure today and arranged delivery of the replacement items

House burglery was it. I had one of those some years ago and i was not insured (i had only moved in a few days before). Its horrible. I take it it was a house.???

kate08

Thank you marshallka, no I didn't ask to speak to the manager, which I should have now I know. I think I was a bit gobsmacked to be told the department had closed and couldn't see myself getting anywhere on the phone, so decided to start again by going to my branch. Will look up HSBC threads now. Am new to forums, still finding my way around. Many thanks.