Can anyone help? Mis-sold ppi on card, HSBC lost agreement, consolidated card
catface27
Posts: 2 Newbie
Hi guys. I'm new on here but if anyone could offer me some advice I'd truly appreciate it.
In a nutshell, I took out a credit card roughly 5 years ago with HSBC. About 3 years ago I began to struggle with payments and consolidated my credit card (£3000ish balance) with my existing loan and overdraft (totalling around £9000). It;s my own stupid fault, but I didn't realise I had been paying for PPI (on the CREDIT CARD) the whole time until the day I went into the branch to consolidate my debts. I queried with the staff, but they basically advised that I wouldn't have been paying for insurance unless I'd requested it, and left it at that. Like an idiot, I didn't push any further. I guess I needed the loan, and I didn't realise at the time that mis-selling was an issue. How wrong I was.
I now want what was taken from me without my consent. I have no problem with paying back what I owe, but I never asked for PPI, and it's not fair that they took it. I wrote to my local branch requesting a list of charges and a copy of the credit agreement from the credit card. They have sent me all my statements, but with regards to the agreement they have wrote back "In regards to your request for a true copy of the credit agreement we have been unabe to locate this at present"
That's just not acceptable in my book.
Does anyone know what I should do next? I'm concious that because I was overcharged on my credit card I'm now paying over the odds on my present loan, which runs into 2011. I'm not sure there's any point in sending £10 off to get all my info (subject access thingy), because they already admit they can't find my agreement.
It's frustrating guys, and I'm not sure how to sort it out. Should I just write back and request all the PPI+interest back? Moreover, should I deal with the credit card alone, before trying to deal with the extra cost incorported into my loan, or should I be making hem aware of the loan issue aswell? My gut instinct tells my to leave the loan issue until I've managed to sort out the PPI on the card first.
I hope this makes sense. I guess it all boils down to, How do you reclaim PPI when they have lost your agreement? If anyone is willing to help that would help me no end. Kind regards, Mark.
In a nutshell, I took out a credit card roughly 5 years ago with HSBC. About 3 years ago I began to struggle with payments and consolidated my credit card (£3000ish balance) with my existing loan and overdraft (totalling around £9000). It;s my own stupid fault, but I didn't realise I had been paying for PPI (on the CREDIT CARD) the whole time until the day I went into the branch to consolidate my debts. I queried with the staff, but they basically advised that I wouldn't have been paying for insurance unless I'd requested it, and left it at that. Like an idiot, I didn't push any further. I guess I needed the loan, and I didn't realise at the time that mis-selling was an issue. How wrong I was.
I now want what was taken from me without my consent. I have no problem with paying back what I owe, but I never asked for PPI, and it's not fair that they took it. I wrote to my local branch requesting a list of charges and a copy of the credit agreement from the credit card. They have sent me all my statements, but with regards to the agreement they have wrote back "In regards to your request for a true copy of the credit agreement we have been unabe to locate this at present"
That's just not acceptable in my book.
Does anyone know what I should do next? I'm concious that because I was overcharged on my credit card I'm now paying over the odds on my present loan, which runs into 2011. I'm not sure there's any point in sending £10 off to get all my info (subject access thingy), because they already admit they can't find my agreement.
It's frustrating guys, and I'm not sure how to sort it out. Should I just write back and request all the PPI+interest back? Moreover, should I deal with the credit card alone, before trying to deal with the extra cost incorported into my loan, or should I be making hem aware of the loan issue aswell? My gut instinct tells my to leave the loan issue until I've managed to sort out the PPI on the card first.
I hope this makes sense. I guess it all boils down to, How do you reclaim PPI when they have lost your agreement? If anyone is willing to help that would help me no end. Kind regards, Mark.
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Comments
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It doesn't matter that they have lost the agreement if you want to reclaim the PPI, if anything it might help you get it back.
I'd write 2 letters, one for your card and one for your loan0 -
Hi guys. I'm new on here but if anyone could offer me some advice I'd truly appreciate it.
In a nutshell, I took out a credit card roughly 5 years ago with HSBC. About 3 years ago I began to struggle with payments and consolidated my credit card (£3000ish balance) with my existing loan and overdraft (totalling around £9000). It;s my own stupid fault, but I didn't realise I had been paying for PPI (on the CREDIT CARD) the whole time until the day I went into the branch to consolidate my debts. I queried with the staff, but they basically advised that I wouldn't have been paying for insurance unless I'd requested it, and left it at that. Like an idiot, I didn't push any further. I guess I needed the loan, and I didn't realise at the time that mis-selling was an issue. How wrong I was.
I now want what was taken from me without my consent. I have no problem with paying back what I owe, but I never asked for PPI, and it's not fair that they took it. I wrote to my local branch requesting a list of charges and a copy of the credit agreement from the credit card. They have sent me all my statements, but with regards to the agreement they have wrote back "In regards to your request for a true copy of the credit agreement we have been unabe to locate this at present"
That's just not acceptable in my book.
Does anyone know what I should do next? I'm concious that because I was overcharged on my credit card I'm now paying over the odds on my present loan, which runs into 2011. I'm not sure there's any point in sending £10 off to get all my info (subject access thingy), because they already admit they can't find my agreement.
It's frustrating guys, and I'm not sure how to sort it out. Should I just write back and request all the PPI+interest back? Moreover, should I deal with the credit card alone, before trying to deal with the extra cost incorported into my loan, or should I be making hem aware of the loan issue aswell? My gut instinct tells my to leave the loan issue until I've managed to sort out the PPI on the card first.
I hope this makes sense. I guess it all boils down to, How do you reclaim PPI when they have lost your agreement? If anyone is willing to help that would help me no end. Kind regards, Mark.
Hi there Mark
Just like Melorablack says it does not matter, besides when you write to them, when they respond, they normally enclose a copy anyway, just as long as your aware that PPI was added when you taken this out.
For the guidelines of reclaiming here is the link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Follow the guidelines and they have 8 weeks to respond.
You do not require the figures to put in the letter anyway, and if your successful they should repay back all the PPI you paid and interest.
You can then request for the calculations.;)
Good luck and remember to post letters by recorded delivery.The one and only "Dizzy Di"
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Jeez, that was quick thanks. I figure the contract will hold they key as to whether they sold the PPI legitimately or not (which I know they didn't) . Surely without that contract they can't argue it was sold legitimately. Fingers crossed. Thanks again.0
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Jeez, that was quick thanks. I figure the contract will hold they key as to whether they sold the PPI legitimately or not (which I know they didn't) . Surely without that contract they can't argue it was sold legitimately. Fingers crossed. Thanks again.
There is a way you can request for this, but they do normally charge a £1 cover payment for this in postal order or cheque payment, they should supply this by 12 days.
That is if your not sure if you had PPI or not, the agreement should confirm this.
Again post by recorded delivery to make sure this is received, you can check this out on "tracking on the Royal mail website".;)
Good luck.The one and only "Dizzy Di"0
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