Can i reclaim PPI on HSBC business loans?

[onestressedwoman]

Efficiency of the bank I mean

 

I know I know I know files to small AGAIN one day I'll get the hang of this easy task

 

Trying again

 

Just spoke to the bank again problem with their system surprise surprise ! but have requested all statement not just 6 years so have been assured that all info including manual records sent within 2 weeks an extension on time yet again

 

Heres hoping files attached properly this time !

 

Thank you for your help !

 

OSW

[ims21]

If the statements/transaction history don't turn up then you need to send the "failed SAR" letter from the CAG library and lodge a complaint with the Information Commissioner.

 

To post up your documents you need to convert them to PDF format as you did last time.

[onestressedwoman]

PDF ? Tried this berfore but woldn't load loaded first time now

 

Bet they are still wrong

 

Nope they are fine I'm thick as 2 short planks

 

And my spelling is extremely poor today

hsbc sar response -11.pdf

hsbc interest rate response - 11.pdf

Edited August 8, 2012 by onestressedwoman

[onestressedwoman]

Hi Ya

 

I recieved 6 years statements 4 years of which in active - I have not got the promised previous statements so will give him a call again today

 

But was wondering ??? Compond interest ??? it states Apr 19.9 so as an example interest on one statement £163.54 if I put it into spreadsheet months elapsed 90 compond interrest is showing 554.28 is this right ???

 

Smiles

 

OSW

[ims21]

You enter the PPI premiums into the spreadsheet with the date it was applied to the account.

 

You say there are 4 years inactive......was this the last four years or the earlier four years?

[AndyOrch]

Probably OSW but wait let ims 21 confirm your spreadsheet.

 

Regards

Andy

[onestressedwoman]

Errrrrrrrrrrrrrrrrrrrrrr...............................

 

Contact not in at bank when I phoned left a message no response so telephoned again today Errrrrrrrrrrrrrrrr.....................

 

The 4 years inactive details for statement was the last 4 years

 

When I spoke to agent today he said that he has sent me everything that he has got - I reminded him that he said he would dig out all history inclusive of manual records held and send them to me from start date of CC .

 

Now it appears that I am lying or may have misunderstood what he meant (my **se)

 

I highlighted to him that in any case he has records on his system that he can access (as he calls it a a push of a button) that he has failed to send me he says no he hasn't I highlight to him he has already provided me with detail of the account in 2005 so he is incorrect.

 

Long and the short of it he's giving me the run around ......... he is going to talk to his manager and see if he is able to access details from start date of card ( I thought they had to keep records for 10 years ?)

 

Can i put in an interim claim for PPI return from dates supplied thus far ?

 

Also I think I have got this spread sheet thing wrong ! Compound interest spread sheet I am putting whole months interest on statment figure in instead of PPI amount ?

 

Do I use both spread sheets for calculation or just the compound interest spread sheet.

 

Would like to do this paperwork today while I'm angry and have a wriggle on but await you learned advice regarding interim rebate request

 

OSW

[onestressedwoman]

He telephoned me back

 

Said............... I'm sorry I listened to the call again and you are right I did say that I would get all files for you but this was my error I provided mis information

I cannot get this information as it does not exist

 

However I can and will send you statements for 2005 and they will be in the post tonight

 

IMS

 

Re Read your post so preivious 2 questions already answered derrrrrrrrrrr............. mind not working again hey

 

Will work on spreadsheet today although still a little confused about why they haven't got 6 years active records

 

OSW (without a brain)

[onestressedwoman]

Right PPI payments for Compound Interest Spreadsheet DONE (for the information they have sent me)

 

Do I submit simple interest spreadsheet too ???

 

Send along with FOS paperwork yes ?

 

I am sure this card was taken out in 2002 so really I am missing 3 years of payments but they don't have CC agreement (apparently) Can I put in a seprate speadsheet for an average figure per month for previous years too ???

 

Finally somewhere near ready to submit paperwork it's only taken 5/6 months for them to provide information for calculations...

 

Smiles

 

OSW

[onestressedwoman]

Anybody there :\

[onestressedwoman]

IMS

 

Have I lost you ?

 

I have recieved a final offer letter from HSBC doesn't even half cover the simple interest let alone the compound interest ?

 

But have acknowledged I have a claim which now makes the charging order on property illegal ??

 

Where do I go from here

 

Learned opinion if you are still there would be greatly appreciated

 

OSW

[ims21]

Just reviewing where we are with this

 

Back in a mo

[ims21]

Can you post up the figures they have offered please?

 

I'll get a detailed look this evening for you.

[onestressedwoman]

IMS

 

Sorry for delay attached PDFs

 

DO you need me to copy over spread sheet calculations too

 

OSW

[ims21]

Yes please....would be good to see your calculation spreadsheets too.

[onestressedwoman]

Here you go .....

 

 

 

 

 

 

 

Spoke to FSO they told me to revert to HSBC but think they just have too many cases to deal with

 

But they said no allowance for compound ????

[onestressedwoman]

IMS

 

Have you any thoughts can you make sense of thier figures I can't :/

 

OSW

[onestressedwoman]

IMS

 

I've lost you again

[ims21]

Sorry...v busy at work too at the mo.

 

Grab a look later if that's OK

[onestressedwoman]

I'm sorry I'm a pain

 

But thank YOU !

[ims21]

Ok for the spreadsheet part it isn't an ideal sheet to use and can be quite a way out on some accounts.

 

Without the statements it is so difficult to work out.

 

What I would do is get them to provide you with the detailed breakdown of how the figures are calculated. If they baulk at this quote them this section from the FSA handbook on PPI redress.

 

3.9.4 G The firm should make any offer of redress to the complainant in a fair and

balanced way. In particular, the firm should explain clearly to the complainant

the basis for the redress offered including how any compensation is calculated

and, where relevant, the rescheduling of the loan, and the consequences of

accepting the offer of redress.

[onestressedwoman]

IMS thank you will do in the morning

 

But the way I'm looking at it they haven't satisfied the simple interest on payments ?

 

I have the statements to work from here - is there a calculation you can give me so I can try and work it out the old fashioned way pen and paper

Edited November 13, 2012 by onestressedwoman

[ims21]

What we have to remember is that with an account such as this, to establish what the simple interest is we need to have access to the raw data to enable us to reconstruct the account.

 

If the removal of the PPI causes the account to go into credit in any period then 8% simple is paid on that credit balance for that period. If the reconstructed account doesn't go into credit then no 8% is payable for that period.

 

Running credit accounts are very difficult to work out unless all of the data is available. This is why we need to see their workings so that we can take a view on their acceptability.

[onestressedwoman]

Right got ya

 

For a change I fully understand - only those 3 months gap that I have noted at a zero or plus balance I will check again though and I will phone them in the morning to ask for breakdown and let you know what they say

 

Good Night Sweet Dreams