PPI Claims

[PiranhaMan]

just wanted a bit of advice if anyone can help

i had a personal loan with HSBC 10+ years ago that i paid ppi on, now obviously id like to get this back
ive rang HSBC and the guy told me they dont keep records past 6 years so they cant find my old account
but he told me to go into the branch, take some id and they should be able to find more info for me
...which tbh confused me a little, cos surely the hsbc system they use over the phone is the same system they use in branch!!

so what do you think i should do?
i have no records of the loan anymore so will that be an issue?
do i even have a claim with the loan being over 10 years old?

anyone got experience with this stuff cos i dont want them to just blag me a try and fob me off with bullsh1t

any help appreciated

alex

 

[SL11CKK]

I would speak with any firms that deal with this type of claim.

But I believe its something like within 8 years you can claim.

Dont take my word for it as Im not too sure.

 

[PiranhaMan]

ive been told the claims handling companys should be avoided as they take at least 30% of the payout!!!

 

[SL11CKK]

Dont proceed with the ppi claim with them just ask them whether its possible. So they think that they will process the claim. But be careful as some are very good at talking you in like a filthy salesman

 

[StateOfPlay]

The branch should have records showing the loan you did 10 years ago. HSBC stopped selling PPI in 2007, which is 6 years ago.

All you need is the loan number. You might find it on old statements, if they allow you to go back that far online. I know Lloyds lets you see back to 2002 on your bank statements online.

Once you have the loan number, you need to write to:

HSBC, PPI Complaints, PO Box 6177, Coventry, CV3 9HP.

Use this site to help you claim; online PPI resource

Always worth a try if you feel you were miss-sold. Don't use a claims company, they can't find the loan number for you, they will just hassle you to find it, and then claim and take a hefty commission.

 

[Ultra Violent]

Agree with S.o.P.
don't use the claims company, if you get the information you need, go to the Money Advice Service, the Martin Lewis website
he has all the info you will need to claim your own ppi. They have a printable claim form which is by the financial Ombudsman and its also the same form the ppi companys will fill out for you over the phone and then take 20% off YOUR money.
I did it myself and claimed back from Bank of Scotland, no probs.
hope that helps.
Death to the Fat Cats

 

[jdp1962]

The branch should have records showing the loan you did 10 years ago. HSBC stopped selling PPI in 2007, which is 6 years ago.

All you need is the loan number. You might find it on old statements, if they allow you to go back that far online. I know Lloyds lets you see back to 2002 on your bank statements online.

Once you have the loan number, you need to write to:

HSBC, PPI Complaints, PO Box 6177, Coventry, CV3 9HP.

Use this site to help you claim; online PPI resource

Always worth a try if you feel you were miss-sold. Don't use a claims company, they can't find the loan number for you, they will just hassle you to find it, and then claim and take a hefty commission.

This is very good advice. Do not go anywhere near a claims management company. The link State of Play has given you is for the Financial Ombudsman Service, and it is free and impartial. It might take a long time - because it is dealing with so many complaints- and you might not win, but at least you'll get a fair hearing.

 

[voorhees]

Another vote for not using the claim management company

 

[PiranhaMan]

spot on, cheers lads... i'll definitely be looking into this

 

[Tolak]

Moving on to the next stage.
I dealt direct with teh bank to claim my refund, and have had a successful result.
However, they have taken tax out of the repayment.
I disagree with that; it is my money, not earned funds (interest, etc) so is not liable to income tax.
Anyone else had similar, and fought it?
(Note that the costs lost via the claims companies might hide all sorts of details like this; interested to know how much they did take, and if they claim to cover the tax for this)