PPI Reclaiming discussion Part II

catinthehat1

Have just sent an email to FOS regarding PPI - asking about what details do we need to send to prove financial hardship in order to get our case investigated quicker ( on Laini's advice)

Ever hopeful!!!

dazman20032003

evening peeps for those who replied to me yesterday im just making sure i am writing the correct letter is it the one where you can ask them to give you an amount you feel is acceptable ?

di3004

woodybuzz wrote: »

My other half has a loan with HSBC - taken out 3 years ago. It was all done over the internet - secure e-mails and all that.

Anyway - PPI was included in a single amount lump sum to the premium - some £5k in total. Understandably, she can remember little about the e-mail exchanges and she pays £65 a month on the PPI.

So two questions...

a) can she stop the PPI payments straight away?

and

b) does she have any grounds for reclaiming the premiums, bearing in mind she has no recollection of the e-mail questions, and only visited the branch to sign the form which has "I have agreed to take Insurance" (or words to that effect) wording on it.

The term of the insurance is the same as the loan (so she can't quote that). Would HSBC have kept the e-mail transcription and if so can a Q"do you want PPI" - A "Yes" constitute misselling?

Any help or advice is appreciated

Hi there

I take it this was in 2003 then.

Just a thought, but whether or not they will supply this I do not know.

It maybe worth your other half requesting for any copies of transcripts for this where they may supply written confirmation of emails, phone calls etc, maybe worth a shot.


Despite that I would write and complain on those reasons why she believes she was mis sold.

If you check on here there is a list of reasons for why people were mis sold, you can find this on the above red box where it states "Reclaim £1.000's", and a template on that site.;)

Delete what does not occur to your other half, send it by recorded post, they can't deny on receiving this then and keep on until you receive the final letter, if still unssuccesful then take it to the financial ombudsman service.

There are complaint forms on the FOS website.

You can cancel anytime, but do not expect much of a reduction in the loan repayments though now, although if successful ALL will be paid back with interest and also 8% interest of what a court would award.

HSBS were covered/regulated prior to Jan 2005 so this should be okay.;)

Good luck!
Di.
x

marshallka

dazman20032003 wrote: »

evening peeps for those who replied to me yesterday im just making sure i am writing the correct letter is it the one where you can ask them to give you an amount you feel is acceptable ?

Dazman, you are going for misselling aren't you???

They have said that they have not missold but not given you a final response yet. Am I right up to yet??

If this is the case then you write back to them saying you want the full amounts refunding plus interest or you will have to take your complaint to the FOS for them to sort out for you. Unless you want to negotiate... I would ask for the lot back if you feel it was missold.

Tron_ess

Hi all,

Apologies for disappearing the other night ... unfortunetely lead a fairly busy life and will have little time to spend here but will do what I can when I can.

marshallka

di3004 wrote: »

Hi there

I take it this was in 2003 then.

Just a thought, but whether or not they will supply this I do not know.

It maybe worth your other half requesting for any copies of transcripts for this where they may supply written confirmation of emails, phone calls etc, maybe worth a shot.


Despite that I would write and complain on those reasons why she believes she was mis sold.

If you check on here there is a list of reasons for why people were mis sold, you can find this on the above red box where it states "Reclaim £1.000's", and a template on that site.;)

Delete what does not occur to your other half, send it by recorded post, they can't deny on receiving this then and keep on until you receive the final letter, if still unssuccesful then take it to the financial ombudsman service.

There are complaint forms on the FOS website.

You can cancel anytime, but do not expect much of a reduction in the loan repayments though now, although if successful ALL will be paid back with interest and also 8% interest of what a court would award.

HSBS were covered/regulated prior to Jan 2005 so this should be okay.;)

Good luck!
Di.
x

pm'd ya Di. xx

marshallka

Tron_ess wrote: »

Hi all,

Apologies for disappearing the other night ... unfortunetely lead a fairly busy life and will have little time to spend here but will do what I can when I can.

What ones can you help with Tro_ness???

Its the blind leading the blind a little some times. We do try though:D

woodybuzz

di3004 wrote: »

Hi there

I take it this was in 2003 then.

Just a thought, but whether or not they will supply this I do not know.

It maybe worth your other half requesting for any copies of transcripts for this where they may supply written confirmation of emails, phone calls etc, maybe worth a shot.


Despite that I would write and complain on those reasons why she believes she was mis sold.

If you check on here there is a list of reasons for why people were mis sold, you can find this on the above red box where it states "Reclaim £1.000's", and a template on that site.;)

Delete what does not occur to your other half, send it by recorded post, they can't deny on receiving this then and keep on until you receive the final letter, if still unssuccesful then take it to the financial ombudsman service.

There are complaint forms on the FOS website.

You can cancel anytime, but do not expect much of a reduction in the loan repayments though now, although if successful ALL will be paid back with interest and also 8% interest of what a court would award.

HSBS were covered/regulated prior to Jan 2005 so this should be okay.;)

Good luck!
Di.
x

Thanks Di - but I'm still a bit confused, the loan was taken out in 2005 - have I got the wrong type of premium? It was a lump sum premium added to the loan - some £4.5k plus interest.

Also, I would have expected the premium to come down by at least the £65 am month - if cancelled.

Am I missing something?

dazman20032003

Evening Karen no none of the letters i have recieved have used the words final response , and yes i am going for misselling ? didnt really understand what it covered or what i was really paying for ? so should i just write back saying im not happy satisfied ? nd if they dont get back ill take my complaint to the fos ?

marshallka

woodybuzz wrote: »

Thanks Di - but I'm still a bit confused, the loan was taken out in 2005 - have I got the wrong type of premium? It was a lump sum premium added to the loan - some £4.5k plus interest.

Also, I would have expected the premium to come down by at least the £65 am month - if cancelled.

Am I missing something?

I take it this was a single premium PPI and added to the loan. It could have been front loaded as well in that you pay most of this off at the beginning of the loan and hardly any off the capital of the loan.

Are you going for misselling here??