HSBC PPI Claim

[mwesty1]

Hi guys,


Right first off this PPI claim is being done for my mother in law as although we both have very little knowledge about reclaiming l know how to use a computer a lot better and have a little more understanding of things.

The PPI is from a loan which actually turned into 3 seperate ones, the first loan was November 2005 for £5000 and £990 PPI insurance. Both these figures are without the interest on top.

She then took another loan June 2006 which paid off original and was for £6100 and £1530 PPI.

Lastly she took another one out in February 2007 which again paid off old one and the total was £7600 and PPI £1760.

This final loan has been paid off in full and there is nothing outstanding. Now this is where l need the help.

1. Do l claim straight through the bank direct
2. Do l claim for all 3 lots of PPI as they was all paid off.
3. She remembers that the loans was all done in a meeting in bank but had no idea what PPI really was and still doesnt lol.
4. The PPI is listed on the loan customer copy so does this make claiming harder.
5. At the time the loan was joint names and both where working full time and had been at the same company for 6 and 5 years respectivley.
6. What is the best way to approach this ?

Any help would be very much appreciated


To add to this in 2004/2005 she was diagnosed with Epilepsy so as this was before the original loan does this mean that the cover couldnt be used anyway?

[Turboman]

Re: HSBC PPI Claim

Hi Mwesty

Have PM'd Di for you---she better at procedures than most of us

[di30]

Re: HSBC PPI Claim

Hi guys,


Right first off this PPI claim is being done for my mother in law as although we both have very little knowledge about reclaiming l know how to use a computer a lot better and have a little more understanding of things.

The PPI is from a loan which actually turned into 3 seperate ones, the first loan was November 2005 for £5000 and £990 PPI insurance. Both these figures are without the interest on top.

She then took another loan June 2006 which paid off original and was for £6100 and £1530 PPI.

Lastly she took another one out in February 2007 which again paid off old one and the total was £7600 and PPI £1760.

This final loan has been paid off in full and there is nothing outstanding. Now this is where l need the help.

1. Do l claim straight through the bank direct
2. Do l claim for all 3 lots of PPI as they was all paid off.
3. She remembers that the loans was all done in a meeting in bank but had no idea what PPI really was and still doesnt lol.
4. The PPI is listed on the loan customer copy so does this make claiming harder.
5. At the time the loan was joint names and both where working full time and had been at the same company for 6 and 5 years respectivley.
6. What is the best way to approach this ?

Any help would be very much appreciated


To add to this in 2004/2005 she was diagnosed with Epilepsy so as this was before the original loan does this mean that the cover couldnt be used anyway?

Hello there and welcome.

Personally I would deal with these complaints separately, so no confusion comes in.

To do this, you would have to complete Financial Ombudsman Service (FOS) Reclaim Questionnaire's.

Keep/save copies of each one, this is in case you need to refer back to them again, or make a complaint to the FOS, where you can send copies on complaining, if it came to this.

Below is the link to the questionnaire, and you send to whoever sold you the accounts from the start, - Head office or complaints depts.
And always use signed for recorded delivery for your proof of posting.

http://www.financial-ombudsman.org.u...stionnaire.doc

When you complete the questionnaire, it will ask for the account numbers, generally the PPI account number is the same number as the loan account number, so you write that.

It makes no difference if the account is settled or still active you can make a reclaim.

If the account was in 2 names, in my experience we have made a joint complaint where we both sign.

It should not make it harder for reclaiming.

Give them as many details as possible that applies to each case, you may have the same mis selling reasons for all 3, but that is fine.

However, you can if you prefer just complete the one questionnaire - if all reasons were the same, but remember to attach each loan account number.

But as said above, personally I would complete a questionnaire for each one.

The normaly timescale is 8 weeks, but due to backlogs, its currently 12 weeks, however they may still resolve before then, and they will write to you to confirm receipt of each complaint received and let you know when to expect to hear from them.

Also check further details below which is helpful as well, good luck and hope this helps, please keep us posted and ask for further help if required.

The guys when they have time will check the figures/calculation side of it for you. But you do not actually require the figures for the reclaiming questionnaires. They should send you this when resolved of each one by forms of a breakdown.

http://www.legalbeagles.info/forums/...ad.php?t=10645

[di30]

Re: HSBC PPI Claim

Details of HSBC directly on website.

http://www.hsbc.co.uk/1/2/personal/p...tion-insurance

Address of where to send your complaint (If you complete them separately, to save money use the same envelope for all 3).

You should write to us at:
HSBC, Regulated Sales Complaints
120 Redcliff Quay,
Redcliff Street,
Bristol,
BS1 6HU

[mwesty1]

Re: HSBC PPI Claim

Is it possible for someone to work out what kind of payment offer l should be expecting. HSBC now have all the paper work and lm just awaiting an answer now but dont want to accept any offer that might seem good but is actually not (IF THAT MAKES SENSE)

[di30]

Re: HSBC PPI Claim

Hiya

I will send a pm or to to some helpful folks and see if they can check these out for you, if there was other loans, such as one to pay off the other - more details may be required but I'm sure they will tell you what info is needed for you to post up.

[mwesty1]

Re: HSBC PPI Claim

Will just add not sure if this helps but 1st loan interest was 13.9% on both loan and PPI, 2nd loan and PPI was 14.9% and last one was 10.9% APR. I cant give the exact dates of when the first 2 loans where paid off with the next one. Sorry

[Bill-K]

Re: HSBC PPI Claim

Hi Mwesty,

You will need to familiarise yourself with PPI reclaim calculations, first of all, as you need to understand the basics of what it is you are claiming. Then fill in spreadsheets with your figures - use one for each loan. Unfortunately, we cannot do this for you, as it needs you to enter the data from your records. There is an excellent PPI knowledge resource here:

PPI - payment protection insurance reclaiming - Legal Beagles Consumer Forum

I would, however, suggest you first read Turboman's excellent "Understanding PPI Calculations" thread for getting to grips with the figures.

There is now a later version of the example spreadsheet used in that thread, and I have attached a copy if it below. Once you have a set of completed spreadsheets, we should be able to help with the final details and any queries.

Hope I've helped...

[mwesty1]

Re: HSBC PPI Claim

Hi Mwesty,

You will need to familiarise yourself with PPI reclaim calculations, first of all, as you need to understand the basics of what it is you are claiming. Then fill in spreadsheets with your figures - use one for each loan. Unfortunately, we cannot do this for you, as it needs you to enter the data from your records. There is an excellent PPI knowledge resource here:

PPI - payment protection insurance reclaiming - Legal Beagles Consumer Forum

I would, however, suggest you first read Turboman's excellent "Understanding PPI Calculations" thread for getting to grips with the figures.

There is now a later version of the example spreadsheet used in that thread, and I have attached a copy if it below. Once you have a set of completed spreadsheets, we should be able to help with the final details and any queries.

Hope I've helped...

thanks, not sure l have done it right but lm getting figure around £3000 so l will go on that for now

[Bill-K]

Re: HSBC PPI Claim

That seems reasonable, Mwesty. As Di says, there's no need to give a figure when you send in your preliminary claim(s) - in fact I personally suggest that you don't give them a clue, and just wait and see what they offer.

If you have filled in the spreadsheet(s), then by all means post them up here, and we'll take a look. But - if you prefer more privacy, then PM me.

[mwesty1]

Re: HSBC PPI Claim

That seems reasonable, Mwesty. As Di says, there's no need to give a figure when you send in your preliminary claim(s) - in fact I personally suggest that you don't give them a clue, and just wait and see what they offer.

If you have filled in the spreadsheet(s), then by all means post them up here, and we'll take a look. But - if you prefer more privacy, then PM me.

i will PM you now mate

[gillwall]

Re: HSBC PPI Claim

Hi L/B's
Thanks for the spread sheet, I have two issold ppi claims going through with the FSCS, just wondered is this the same process they you to redress a loan.
Thanks
gillwall

[Bill-K]

Re: HSBC PPI Claim

i will PM you now mate

Further to the PM, if you don't have any details of loan settlement figures or any 'PPI Rebates' given, then we can sometimes glean these from the consolidation loan agreements. Additionally, sending a DSAR might elicit this info - it'll cost you a tenner.

If you do the spreadies, though, I think Turbo and I might be able to rustle up a 'ball-park figure.' If the settlement offer is way below this, then we can challenge it, and the lender may then provide the info for free. It's basically a tradeoff 'twixt time and effort.

Let's see what they offer, anyway - but meanwhile we can be working on this 'guesstimate' at this end. Time and effort are the watchwords, really, though.

...I have two issold ppi claims going through with the FSCS, just wondered is this the same process they you to redress a loan.
Thanks
gillwall

The spreadsheet posted above should be OK for fixed-term loans, but NOT for revolving credit (credit card) accounts. I'm not sure about 'process,' though, as the FSCS may have a different set of criteria to (hopefully) arrive at the same destination.

[gillwall]

Re: HSBC PPI Claim

Thanks Bill-k
My ppi claims are 2 secured loans.
Thanks
gillwall

[Bill-K]

Re: HSBC PPI Claim

Should be OK., then Gillwall, I reckon. The calcs should be OK., but with secured loans, I would most certainly check the 'process' involved, and any 'small print.'