Where do i begin??

HSBC_HELP · 3 February 2009 at 1:33PM

Hi there, just joined need a little help on where to begin. Ive read through the website and looked at all the template letters etc, but im just not sure where to begin how do i start contact? My loan is with HSBC and i believe i was misssold the protection, how do i start the process?? Thanks for your time.

di3004 · 3 February 2009 at 2:14PM

HSBC_HELP wrote: »

Hi there, just joined need a little help on where to begin. Ive read through the website and looked at all the template letters etc, but im just not sure where to begin how do i start contact? My loan is with HSBC and i believe i was misssold the protection, how do i start the process?? Thanks for your time.

Hi there

You can start if you've not done so already by checking this link out here
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

There is some useful information about PPI mis selling where some of this may occur to you, if so there is also a template reclaiming letter on the link, but write in your own words and obviously add your own reasons where you believe you were mis sold, they have 8 weeks to respond in full.
Another letter maybe required if not successful first time, until you receive a final response which should mention the Financial ombudsman service (FOS) where they will enclose a leaflet as well if eligible to take to the FOS.

Post by recorded delivery in order to keep a check on the 8 weeks they have and for your proof of posting.
If you've not heard anything, then I would contact the FOS from there, as they have ample time in 8 weeks to respond.

Have you the agreement for this/the paperwork?

If you require any documents of yours, it may be a good idea to request a Subject Access Request (SAR) they must send everything they have on you by 40 days of request, however there is a £10 cheque or postal payment required for this.

If you require the template, either post back here or check this out on the PPI reclaiming 4 thread, you will find this by clicking on loans first and that mentioned thread will be at the top of the page.

Good luck.;)

2000:1 · 20 March 2009 at 12:38PM

Hi,

I have followed the Stage 1 part of the process listed on this site.
I wrote to HSBC on 3rd January 2009. They have delayed providing a rersponse due to 'sheer volume' of complaints.
There are six accounts in question, relating to mortgages held previously. On contacting them today I have been told that they are unable to uphold my complaint as 'there is no evidence that I was told I had to take the insurance out'. Is this just a cover for them not having any records? The chap said I could call him back when I receive the written response, but then said I could go to the Ombudsman as I was clearly unhappy.

Is this the end of my complaint or is there still a way to take it forward.

Any help will be greatly appreciated.

di3004 · 20 March 2009 at 12:44PM

2000:1 wrote: »

Hi,

I have followed the Stage 1 part of the process listed on this site.
I wrote to HSBC on 3rd January 2009. They have delayed providing a rersponse due to 'sheer volume' of complaints.
There are six accounts in question, relating to mortgages held previously. On contacting them today I have been told that they are unable to uphold my complaint as 'there is no evidence that I was told I had to take the insurance out'. Is this just a cover for them not having any records? The chap said I could call him back when I receive the written response, but then said I could go to the Ombudsman as I was clearly unhappy.

Is this the end of my complaint or is there still a way to take it forward.

Any help will be greatly appreciated.

Hi there hun

Do not leave it there.

Was this just told to you verbally on the phone?

You need a final letter from them in order to continue your case, so if this was only verbally, write back and tell them you want this reconsidered, or your next move with be with the FOS.

(make a point you need this in writing as well hun), good luck, keep us posted so we can help you through this.;)

Di
X

2000:1 · 25 March 2009 at 7:28PM

HI,
Thanks for the comments so far. I have now received the letter. The complaint relates to mortgage protection policies, some with critical illness cover. I have complained that these policies were mis sold as:
When I had a mortgage with HSBC, any further borrowing that was taken out by say a move or Home Improvement Loan, resulted in another (new)mortgagae and a (new) seperate life cover policy being started, (this is great for new business and commission figures). However, when they process the loan they also process the new life cover agreement together, which they present for you to sign at the same time as the new mortgage. They do not advise you that you may get the life cover cheaper, or why they create new agreements rather than amend the existing.There are currently 6 policies that this applies to.

HSBC are stating in their letter that, as their is nothing documented in the paperwork to show that this was the way it was sold, they will not uphold the complaint.

I spoke to the chap who sent the letter, saying I would write to ask him to reconsider and he told me it wouldn't be worth it as he would not overturn the decision. He did say however that he agreed with my point about being continually sold new mortgages and life cover. He told me to contact the Ombudsman to pursue the complaint further.

Am I able to progress this any further now or is this the end of the complaint?

di3004 · 25 March 2009 at 7:32PM

2000:1 wrote: »

HI,
Thanks for the comments so far. I have now received the letter. The complaint relates to mortgage protection policies, some with critical illness cover. I have complained that these policies were mis sold as:
When I had a mortgage with HSBC, any further borrowing that was taken out by say a move or Home Improvement Loan, resulted in another (new)mortgagae and a (new) seperate life cover policy being started, (this is great for new business and commission figures). However, when they process the loan they also process the new life cover agreement together, which they present for you to sign at the same time as the new mortgage. They do not advise you that you may get the life cover cheaper, or why they create new agreements rather than amend the existing.There are currently 6 policies that this applies to.

HSBC are stating in their letter that, as their is nothing documented in the paperwork to show that this was the way it was sold, they will not uphold the complaint.

I spoke to the chap who sent the letter, saying I would write to ask him to reconsider and he told me it wouldn't be worth it as he would not overturn the decision. He did say however that he agreed with my point about being continually sold new mortgages and life cover. He told me to contact the Ombudsman to pursue the complaint further.

Am I able to progress this any further now or is this the end of the complaint?

Hi there hun,

For you to take this on to the FOS its always best if they receive the final letter from the company, so where the guy told you verbally it really should be in writing, so personally I would write back anyway, keep it all in writing.

However, in regards to the FOS if the company did not respond at all within the 8 weeks, you are entitled to take to the FOS, but hun, write back and ask them to consider, despite what the guy told you on the phone, good luck to you.;)

Keep us posted.

Di
X

Where do i begin??

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