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  • FIRST POST
    • BreakingMyself
    • By BreakingMyself 6th Aug 18, 3:49 PM
    • 7Posts
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    BreakingMyself
    PPI Refused HSBC - Place of work dissolved.
    • #1
    • 6th Aug 18, 3:49 PM
    PPI Refused HSBC - Place of work dissolved. 6th Aug 18 at 3:49 PM
    Hi,

    I've recently applied for a PPI refund with HSBC, after jumping through some hoops and paperwork I got the ball rolling.

    The PPI was on a personal loan from approximately 10 years ago over 2 years.

    I received a letter last week saying they had my complaint and it was with the PPI Complains Team and they would be in touch within 8 weeks, etc.

    The same day I received a second letter saying that because my place of work was now dissolved (The company I worked for shut down last year) they couldn't correspond with me further or investigate the claim. The letters are dated on the same day and signed by the same person.

    How does my employers being closed have any bearing on my personal loan?

    I have called HSBC and should be getting a call back this week, I'm hoping it's a mix up.

    Can anyone shed any light on the situation or had a similar experience?

    Cheers!
Page 1
    • zx81
    • By zx81 6th Aug 18, 4:14 PM
    • 18,039 Posts
    • 19,249 Thanks
    zx81
    • #2
    • 6th Aug 18, 4:14 PM
    • #2
    • 6th Aug 18, 4:14 PM
    Did your complaint involve reasons to do with your employment contract and benefits?
    • McKneff
    • By McKneff 6th Aug 18, 4:16 PM
    • 36,092 Posts
    • 46,516 Thanks
    McKneff
    • #3
    • 6th Aug 18, 4:16 PM
    • #3
    • 6th Aug 18, 4:16 PM
    Seems as if that will be the case
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
    • BreakingMyself
    • By BreakingMyself 6th Aug 18, 4:18 PM
    • 7 Posts
    • 0 Thanks
    BreakingMyself
    • #4
    • 6th Aug 18, 4:18 PM
    • #4
    • 6th Aug 18, 4:18 PM
    No, I only included the information as that's where I was employed at the time, I never needed to use the PPI either.

    Thanks for the reply.
    • BreakingMyself
    • By BreakingMyself 6th Aug 18, 4:36 PM
    • 7 Posts
    • 0 Thanks
    BreakingMyself
    • #5
    • 6th Aug 18, 4:36 PM
    • #5
    • 6th Aug 18, 4:36 PM
    Sorry it won't let me edit yet.

    To clarify I claimed mis-sold PPI as I was told it was a requirement due to my age at the time and I'd need to take it if I wanted to loan. This was in branch with an advisor.

    The loan was for me personally and not connected to the employer in any way. I didn't have any benefits or protection through my job that would've made PPI redundant.

    Hope that clears it up a bit.

    Cheers!
    • dunstonh
    • By dunstonh 6th Aug 18, 5:09 PM
    • 93,888 Posts
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    dunstonh
    • #6
    • 6th Aug 18, 5:09 PM
    • #6
    • 6th Aug 18, 5:09 PM
    Your employer details wouldnt matter unless you are alleging work benefits existed that cannot be verified. Did you state in your complaint that you got employer sick pay?
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • -taff
    • By -taff 6th Aug 18, 5:17 PM
    • 7,539 Posts
    • 5,632 Thanks
    -taff
    • #7
    • 6th Aug 18, 5:17 PM
    • #7
    • 6th Aug 18, 5:17 PM
    Are you sure it was PPI and not life insurance?


    If it was a condition of the loan, this would have been clear on the paperwork. Have you got the paperwork?
    • BreakingMyself
    • By BreakingMyself 6th Aug 18, 5:36 PM
    • 7 Posts
    • 0 Thanks
    BreakingMyself
    • #8
    • 6th Aug 18, 5:36 PM
    • #8
    • 6th Aug 18, 5:36 PM
    I haven't claimed any benefits that I know of, any sick pay would've been just a statutory entitlement. I can't remember if I ticked a box saying I would receive sick pay though.

    It's definitely PPI, I didn't have the original paperwork so I requested the information with HSBC which stated the PPI and which loan account it applied to.
    • dunstonh
    • By dunstonh 6th Aug 18, 5:39 PM
    • 93,888 Posts
    • 61,672 Thanks
    dunstonh
    • #9
    • 6th Aug 18, 5:39 PM
    • #9
    • 6th Aug 18, 5:39 PM
    This is a strange one. The only time a company status would be involved is either to confirm wildly inaccurate sick pay claims (i.e. if you said the employer paid out for 2 years). Or if the loan/PPI was a company loan and the company in question no longer exists

    I suggest you go back to them and clarify. it is is possible they have pressed the wrong button the the letter type.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • BreakingMyself
    • By BreakingMyself 6th Aug 18, 5:50 PM
    • 7 Posts
    • 0 Thanks
    BreakingMyself
    That's what I'm wondering, maybe some crossed wires.

    I spoke to someone at HSBC on Friday and firstly she said they were investigating the claim and when I asked about the other letter she seemed confused and put me on hold. When she came back she said the PPI team don't take incoming calls and that they'll call within 5 days (so by this Friday if it's working days, it usually is) to discuss.
    • McKneff
    • By McKneff 6th Aug 18, 6:01 PM
    • 36,092 Posts
    • 46,516 Thanks
    McKneff
    So what makes you think you were misold
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
    • BreakingMyself
    • By BreakingMyself 6th Aug 18, 6:41 PM
    • 7 Posts
    • 0 Thanks
    BreakingMyself
    I wasn't given a choice whether to take PPI, they told me it would be required if I wanted the loan, obviously a load of rubbish. But I was young, naive and needed the money to help move house so that was it.
    • Nasqueron
    • By Nasqueron 6th Aug 18, 8:26 PM
    • 5,234 Posts
    • 3,170 Thanks
    Nasqueron
    I wasn't given a choice whether to take PPI, they told me it would be required if I wanted the loan, obviously a load of rubbish. But I was young, naive and needed the money to help move house so that was it.
    Originally posted by BreakingMyself

    As I doubt you can prove any of that actually happened, you are hoping to get lucky on an auto-pay or some other fault being found, just to set your expectations realistically
    • societys child
    • By societys child 6th Aug 18, 8:55 PM
    • 5,267 Posts
    • 5,832 Thanks
    societys child
    I was young, naive and needed the money to help move house
    That doesn't add up, old enough to move house but young and naive?

    • BreakingMyself
    • By BreakingMyself 9th Aug 18, 2:48 PM
    • 7 Posts
    • 0 Thanks
    BreakingMyself
    I came here to ask about PPI not get judged on why I put in a claim or where I was at in my life over 10 years ago, cheers though.

    Turns out it was HSBCs mistake, they called back and cleared it up. My old place of work banked with them and also had loans, wires crossed.
    Last edited by BreakingMyself; 09-08-2018 at 3:31 PM.
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