Thread: Skintboy v HFC (PPI)

Greetings to you all.

This is my first (and probably last) PPI claim and I could do with a few pointers.

Firstly, it isn't really PPI at all. I have had a Current Account Plus with HFC for years. For all that time I have been paying £1 per month for insurance. I have, of course, seen it on my statements and although I have asked about it on several occasions over the years, They always talked around it and never gave me an explanation.

Getting on for a year ago, HFC closed ALL current accounts. I requested a copy of the credit agreement in December 2008 and so far they have produced nothing at all: however, in the course of one of my many telephone calls to them, I asked what this £1 is for. They eventually (and reluctantly) told me it was Life Insurance to cover the debit balance on the account.

A couple of weeks ago I received a letter from HFC saying that they had cancelled the policy and would like to refund the 'premiums' for the last 6 years + 8% interest. Unfortunately they messed up the calculation and the total for 6 years was just over £57 .

This, finally, is the point of these ramblings. Can I claim ALL the premiums back or is it restricted to 6 years? Can I claim interest at their own rate rather than 8% ? and, in the absence of an agreement, how can I find out how long I have had the account? I think it was opened about 1985 but I really don't know.

Cheers, T.

Hi Dipply,

Thanks for the quick response. I agree completely about the SAR. I'm absolutely certain that they don't have the old stuff, otherwise they would have sent me the CCA and I would start paying them again.

I could calculate a SoC from, say, 1990 which I think would be fair to them and see how they react. Personally, I prefere the courts to fos. It seems to concentrate their corporate minds and it is a lot quicker.

Watch this space.

Cheers, T.

It used to happen to me all the time too but I'm a good boy now.;-)

There will be a time for the charges, but as it is a bank account, it will have to wait for a bit until the banks get a third boot in the ring (so to speak).

God speed the day.

Keep the faith.
T.

I have now produced a Schedule of Charges for this insurance lark. I did get confirmation from HFC that the account was indeed opened in 1985.

I had to do the spreadsheet in 2 parts because there wasn't one long enough for all the entries, 288 . It is amazing how the interest adds up.
I have deceided to just claim interest at 8%. If I followed my usual practice the total would probably put the claim in Fast Track and I can't be bothered with the grief; mind you, if they get stroppy about it I will up the anti .

Back to my original question though. Is there a problem with claiming back as far as 1985? If there is a 6 year limit I have the option of claiming for 6 years at the contractual rate (maybe with interest in restitution as well).

Any input would be appreciated.

Keep the faith.

T.

Greetings all.

I have sent HFC a preliminary request for repayment of premiums and interest @8%. I dare not claim interest at contractual rate, the sum would be enormous. Their 14 days are up on Wednesday and it will be time for the lba.

As I said in my previous post, I have asked for the return of premiums going back to 1985. Can I do that?? I've read through all the stickies and can't find a definitive answer.

Any advise would be most welcome.

Cheers, T.

Thanks Alanalana. lba will be in the post on Thursday morning.

I messed around with a spreadsheet @27.7% back to 1985. The first payment of £1 attracted intrest of £345.00 and getting on for £2k in the first 6 months. I think I'll settle for 8%.

I don't think HFC have any paperwork at all for this account - certainly not that old: nor do they have an agreement. It should be quite a laugh when/if it goes to court.

Thanks again for the support.

T.