Help needed with HFC claim please

[ukdarrenfan]

Hi Andybars

The acceptance letter only states that we accept full and final settlement with regards to those 3 account numbers. I think I will write to them giving them one last chance to make me an offer on the other 2 before I send them to the FOS. I've got nothing to lose.

[davsib]

Try emailing Roger Lovering CEO HFC Bank managingdirectoruk@hsbc.com.hin you should get an email back within a few hours then a phone call a couple of days later I did . Worth a try just tell them your not happy with part of the offer

davsib

Edited June 8, 2013 by davsib

[ukdarrenfan]

Good idea davsib.

 

I think I will send a letter with my acceptance form giving them one last chance to make me an offer.

 

Theyve admitted that both loans contain PPI,

the only reason that they've not upheld them is because they say they have no proof that we didn't cancel the PPI or the amount that was paid.

 

Well they had no proof with any of the others either,

only that all the loans were in a chain and each one paid off the previous one.

 

If they haven't got any idea of the amounts that were paid they must have some idea and could make an offer still.

 

If they still refuse I'll send an email to the CEO.

 

It's worth a try before I involve the FOS.

 

I've got the time now that we'll have £18,000!

 

Beware Direct Auto Finance, it will be you next.....

[dx100uk]

you also need to point out they are the ONLY creditor

we on CAG have ever seen that MAKE punter prove they actually did pay it!

 

p'haps they shouldn't have shredded so much 'evidence' when the ppi scandal broke

 

just so they could bury their multi £M fleecing of 100,000's of customers in the 80's & 90's

dx

[davsib]

If you post it, it will scanned and sent to their office in India, I was told this by the person who sorted mine out.

If you use the email it will be delt with in the UK.

[ukdarrenfan]

If you post it, it will scanned and sent to their office in India, I was told this by the person who sorted mine out.

If you use the email it will be delt with in the UK.

Really? Why on earth do they send it to India? Is that for all the claims, or just the ones that you are querying? I don't need to attach anything to the email do I, just reference the claim number and their comments on the offer letter?

[davsib]

Really? Why on earth do they send it to India? Is that for all the claims, or just the ones that you are querying? I don't need to attach anything to the email do I, just reference the claim number and their comments on the offer letter?

 

Because it's cheaper, I just quoted claim numbers ect and said I was sick of being messed around

[ukdarrenfan]

Because it's cheaper, I just quoted claim numbers ect and said I was sick of being messed around

Ok, I'll do that then. They messed me around so much with the SAR that they gave me my £10 back! They know that both those loans were paid off, because they were paid by other loans in the chain. Even for the other loans they said that they had no information other than what I sent them, but they didn't ask for statements for those! It will cost them enough for those to be referred to the FOS, so they might as well sort it.

[ukdarrenfan]

Well Mr Lovering has had a week to respond to my email and didn't even bother acknowledging it. All the documentation for the remaining two loans has now been forwarded to the FOS this afternoon.

[ukdarrenfan]

Got an email from the FOS this morning to say that they have received my complaint and they will be in touch shortly, when they have had a chance to look through the information we sent, to let us know what happens next. So now we wait.....

[ukdarrenfan]

Obviously the email was looked at as I received this today. It's laughable really, as they are only not upholding the last 2 loans as they say they do not have enough information to calculate a refund! What do you reckon the FOS can do? Can they make them make me an offer or are they going to string this out?

[Andybars]

The wording of the letter seems more appropriate for a credit card account than a loan - however I have re-read the thread and they clearly are loan accounts. My view would be that HFC have had enough time and to get these in the queue for FOS with a request that HFC be made to make a reasonable offer based on assumptions.

 

My own view is that FOS will make them make some kind of offer as they have accepted that the PPI was mis-sold, the downside is that FOS appear to be trying to manage their backlog by prioritising easy PPI cases - they are quoting 12-18 months for a case and my own experience is that anything where there is an offer on a case (even if your complaint to them is about associated loans without an offer) gets put in the cupboard marked tricky - so you are looking towards the top end or beyond of that timescale.

 

Based upon the age of the account and the limited info - my own view is that you would struggle with the court route - although as always I need to make clear, there are far more experienced people on the site particularly on the legal side who will be able to better assist with that potential route

Edited June 24, 2013 by Andybars

[ukdarrenfan]

No I don't have any old statements at all. The 2 loans are from 1995 and 1997. It's already in the hands of the FOS and I just e mailed this letter to them to go with the other documents in my case file. I don't know why they won't just go with the info that they have, it would save so much time, but they seem determined to dig their heels in.

[ukdarrenfan]

I'm trying to work out the first loan but I'm struggling. It's obviously not one that has upfront PPI on it and works more like a credit card.

 

They say in their letter that the payment is 3% of the balance and that the PPI is 0.6% of the balance.The loan was for £7528.30 and I am assuming a rate of 25.4%.

 

We signed it at the end of January 1995 so I'm not sure if the first payment would be in February or March.

 

The amount of £7338.21 was outstanding when we took out another loan that started in March 1996. How do I go about starting to work out what our payments were? Does the interest on this loan go up until today, or the end of the loan? Is the interest added onto the balance each month or at the beginning? I'm confused.

Edited June 26, 2013 by ukdarrenfan

[dx100uk]

the current account plus worked like a credit card, int was monthly on the bal

outstanding at the end of each month.

though sometimes, like me, I paid affixed sum each month through choice.

 

ims21 has a thread on one as do I somewhere

daveib also has one.

 

dx

[ukdarrenfan]

I can't imagine that we would have paid more than the minimum payment each month and I don't think we borrowed more on it or we wouldn't have taken out another loan after a year. I honestly don't understand how it worked. Will they be able to make an offer based on that information with no statements?

[dx100uk]

no HFC wont

 

the only bank that requires statements to prove what you paid

 

we are working on this very unfair stance

 

dx

[ukdarrenfan]

So what if the fos uphold the claim? Will they still not pay out?

[dx100uk]

it would be nice if they did

 

I don't think the FOS has ruled infavour of any CAP HFC ones

 

dx

[ukdarrenfan]

If they don't uphold it will be really unfair. We've already proved the misselling with the other loans that HFC upheld. They've more or less said that they will pay us if we provide them with all the statements!

[dx100uk]

same with me

 

FOS refused

 

dx

[ukdarrenfan]

same with me

 

FOS refused

 

dx

 

Really? How unfair....

[ukdarrenfan]

there is nowt to say the approach we have taken is not correct

we have used an avg of the known ppi payments for both the CAP ones.

 

what about your banks statements?

or did you pay [as I did & was told to at the branch only] by card and a little white record card?

 

I can se what hfc are getting at in post 143 and that recent letter

they don't know what you had outstanding month to month

 

BUT , if you refinanced for £XXXX then its a good bet the bal was the same throughout

mine was!!

 

dx

 

I think things are getting a little confused here. I don't have bank statements and my loans aren't stamped as paid in full. This is someone else posting in the thread and not me.

 

 

I already proved to HFC that my loans all paid off each other, so it's not proof of that that they want.Our loans would have been paid by direct debit, I certainly don't recall having to pay in the branch because it would have been really inconvenient as it wasn't close by.

 

 

I can't understand why we had a mix of normal loans with these 2 in the middle. HFC know the amount of the loan, the APR, the percentage of the loan which made up the payment, the percentage which made up the PPI and the amount that was refinanced after a year. They have more than enough information to make an educated guess at how much we paid.

 

Unfortunately they are now insisting on statements to prove the exact amount we paid each month for both of these loans and say that they will only pay out what we can prove we paid...because they know we can't prove it.

[dx100uk]

post moved to a new thread as tink does not have one

 

dx

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/showthread.php?395478-Multiple-loans-with-HFC