hsbc ppi

[uneverdid]

Hi

 

I have a query with a ppi claim

 

I have just received a rejection letter with the usual jargon but they have included this paragraph

 

Regrettably due to the passing of time the original documentation has not been located

however I can confirm that it is not bank procedure to issue insurance without the appropriate documentation being completed

 

So what should my next step be the cc account is now statute barred

and dropped off my cra file very recently.

 

The ppi amounts to 3000 + so I am wanting it back

 

I appreciate any advice

 

Thankyou

[ims21]

What is the balance on the account that you owe to them?

 

How have you worked out the refund amount due to you?

[BRIGADIER2JCS]

You have to have a valid reason for believing that the PPI was missold, do you have any reason to believe this is so?

[uneverdid]

I was told I had to have it to get the cc

but wouldn't of needed it as the company I worked for paid 6 months full sick pay and 6 Months half pay

 

unfortunately I needed the card at the time and the ppi would of only paid out up to 12 months anyway.

 

I Have totalled the amounts on the statements I have and averaged them out not added any interest

as was waiting for a response

 

they have said if I have any further info send it to them but they have also said it's their final response in terms of how much I owe surely it's irrelevant

[uneverdid]

Sorry pressed button too soon hsbc combined my current account and cc account although I have not signed anything new so not really too sure about amount owed about £5000 I think thanks for your replies

[ims21]

No it is not irrelevant. If you have a balance on the account of, say 5,000 and they owe you £3,000 then they will set that refund against the account so you won't see anything and it will not be worth claiming.

 

If the refund you are due exceeds that account balance then you could end up with some money in your hand.

 

Being forced to have the PPI to get the card is in itself a valid mis-selling reason.

[uneverdid]

Even if the account is statute barred I thought they could not offset by the way this was with arrow when it dropped off my file does this make a difference

[ims21]

Have arrow bought the debt or are they acting on behalf of the HSBC?

[uneverdid]

Never had a noa but wouldn't they have to own it to be named by experian

[ims21]

If Arrow's name appears on your credit reports then that is a good indicator that they have bought the debt.

 

So you may have a chance of getting your money back from the Original Creditor since as they have relinquished all rights to the debt they cannot use set-off.

 

So we can now revert to post #1...they have no evidence to back up their claim. It is heresay and speculation that their system was robust.

 

If it were me I would write back to them and tell them that they have been unable to provide any evidence whatsoever that this was correctly sold and therefore are speculating on what would have been. You then demand that they refund yur money in accordance with the regulator's method of redress.

 

If they still refuse then you pass the matter to fos to deal with. Always worth challenging them yourself first.

[uneverdid]

Thanks that's what I will do your advice is much appreciated

[uneverdid]

If they still refuse what do you think my chances will be with the fos in view of the fact they can provide no paperwork

[ims21]

I would say pretty good.

[uneverdid]

Thanks

[ims21]

I've moved your thread to the PPI forum which is a better place for it.

 

Before you do your letter of challenge to the lender, have a read of Appendix 1 of the FSA handbook here

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?305682-FSA-Handbook

 

There is a lot of information in there about how claims should be dealt with and you may well find that there are other points which you can pull them on.

 

I saw the phrase "Regrettably due to the passing of time the original documentation has not been located however I can confirm that it is not bank procedure to issue insurance without the appropriate documentation being completed" in another thread recently which suggests to me that may well be sending out generic letters to try and fob people off.

[uneverdid]

Ok will have a look

[dx100uk]

also read their letter carefully

 

if its the ONLY reply you have ever had

 

it will prob say....

 

you can consider this as or words like that

this letter to be our final response

 

WELL YOU DON'T!!

 

write back with the FOS CQ +SOC+reply letter

 

outlining that pure SPECULATION that it WAS sold properly

is not a good enough reason to reject a customer reclaim of PPI..

 

where IS THE PROOF, were they there in the room or on the phone...NO they were not!!

 

dx

[uneverdid]

That's exactly what they have said of course I am now going to write back to them as advised above should I give them a deadline for their response

[dx100uk]

ultimately the whole time limit from your first letter is 8 weeks

 

dx

[uneverdid]

It's already taken them over 9 weeks to respond for the first time

 

just notice that they Have put at the beginning of their letter

 

further to our recent correspondence

 

well there has not been any

 

since I submitted my original claim so not sure what they mean

[dx100uk]

i'd still write back

 

give them 14days to positively move your complaint of mis-selling foward

 

or you will escalate the complaint to either

the FOS

or

direct to court claim

 

without any further correspondance from you.

 

dx

[uneverdid]

Right letter wrote and off in the post will keep you informed