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PPI success and all thanks to this forum!!


littleprincess
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I received a letter today from HSBC telling me they are paying me back £1022 for my PPI!!!!!

After 4 letters ive finally won!

in the letter they say they are accepting no liability for wrong selling of the product but are paying me the premiuim back!

I now have to go in and restructure my loan without the PPI at the same interest rate and the money will be in my account in 5 days.

im at the bank monday!

 

I WANT TO SAY THANK YOU TO EVERYONE ON HERE!!!!!

without this forum i would never have known how to claim this as soon as that money goes in my account a donation to this site will be on its way!

 

im still fighting my bank charges case, which im now having to put a small claims in for, but fingers crossed for that one!

 

if anyone is struggling with getting their PPI back, please keep going as this bank just tries to fob you off constantly, but you can win!

 

thanks again everyone

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Congratulations on your win. And thanks in advance for any donation. Donations and other income are very down at the moment so everything is especially gratefully received.

 

Yes. Don't expect any bank or any lender to come quietly. You have to be persistent and assertive to overcome them.

 

The banks acting very unfairly. The ombudsman recently remarked that PPI complaints have increased enormously and they are now finding in favour of 90% of the customers complain. The ombudsman puts this down to the fact that the banks are merely raising obstacles and making it as tough as possible for people to reclaim their money. The ombudsman pointed out that if the banks were really interested in settling claims, then they would be taking lessons from the ombudsman's decisions and would be applying the principles laid out by the ombudsman in order to settle PPI complaints without obliging customers to resort to this formal action.

 

The ombudsman said that if the FOS complaint system was really working, then they would have expected to see a reduction in successful complaints instead of an increase. The only conclusion is that the banks are not acting fairly and they are instead of using the ombudsman complaint system simply to raise obstacles, to tire out their customers, and to make sure that only the most resilient customers manage to get their PPI money back.

 

Goodness knows how many people give up and never make it as far as the ombudsman -- yet if they did, they would then get their money back.

 

The message once again for all bank customers is:

don't expect your bank to be cooperative, to be interested in fairness, to be transparent, to be reasonable, to be interested in justice, to be decent, to be humane, to acknowledge their mistakes, to back down without being bludgeoned into it.

 

None of this is in their culture or in their business plan

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totally agree with everything you have mentioned, the fact they are paying it back surely admitts liability even though they say they are not accepting any liability!!!! idiots!

they also said the matters i raised they would not comment on, so they are saying im right! no matter how they word things, they have accepted liability!

Luckily i did not have to go the ombusdman, but i would have! and i think after 4 letters they should have settled it in the 1st letter!

i dont like the fact banks are allowed to use scare tactics, and to be honest since putting my claim in they have been more on my case than ever with my account, even if it went a 1p overdrawn they would call! i think this scares people into continuing with their claim, and this issue needs to be addressed.

their staff are useless, and not trained in matters to do with refunds, and are just plain rude!

lets hope things start getting sorted with banks and we find that we can get along with our banks and they actualy want to help instead of wanting to make our lives difficult!

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I received a letter today from HSBC telling me they are paying me back £1022 for my PPI!!!!!

After 4 letters ive finally won!

in the letter they say they are accepting no liability for wrong selling of the product but are paying me the premiuim back!

I now have to go in and restructure my loan without the PPI at the same interest rate and the money will be in my account in 5 days.

im at the bank monday!

 

I WANT TO SAY THANK YOU TO EVERYONE ON HERE!!!!!

without this forum i would never have known how to claim this as soon as that money goes in my account a donation to this site will be on its way!

 

im still fighting my bank charges case, which im now having to put a small claims in for, but fingers crossed for that one!

 

if anyone is struggling with getting their PPI back, please keep going as this bank just tries to fob you off constantly, but you can win!

 

thanks again everyone

 

I am due to go for an "Interview" at HSBC later this month with regards to changing/removing the PPI on my current loan ( Have held this since 2007 & is one of several that i have had over time ) obviously i now know about the mis-selling of the PPI but, is there any advice that you could give me ?

Debt Free Since 1st September 2009:D

 

Target Savings For 2010 = £1000:)

 

Savings So Far = £700:lol:

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hi mangle, congrats on going to sort your PPI with your bank. Initially after 2 letters i was told they had not mis-sold me it, yet they would remove the PPI if i came in and restructed my loan. I actually refused to go in and do that until they had agreed to refund my PPI first.

You need to get your agreement out and go through it with a fine tooth comb. Did they take your premiumum for this PPI out all in on go? ie a lump sum came out of your account the day the loan went in? cause thats what i got them on! I had a loan for £4500, they debited £5000 into my account and on the same day they took £1081 for the PPI so in effect I never had £4500 from them! also on my agreement it said that if my loan was "under" 60 months i was covered for unemployment, well my loan was 60 months, so i got them on that too, as the reason you want loan protection is for unemployment mainly! so effectivley i was not covered!

I also was never told i could buy this insurance elsewhere for a lot less, and was told I needed the PPI to enable me to get the loan. all the above is not allowed by the bank, and they obviously get money from the insurance that provides the cover as its not HSBC that cover you its outside insurance companies, so i assume they are on commision!!!

 

I would certainly get onto the letter writing side of things, and keep going at them, finding as many loopholes as possible, you will receive the letters saying no, and you will think your fighting a losing battle, but your not!

if i can help in any way let me know, im not the most knowledgeable on here, but I can try!

good luck x

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Thanks for the advice littleprincess i will dig out my details tomorrow, if there are any further queries & if it's okay with you i will get back in contact for further advice / help.

 

Many Thanks once again, i will keep you posted. x

Debt Free Since 1st September 2009:D

 

Target Savings For 2010 = £1000:)

 

Savings So Far = £700:lol:

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no problem. i like to pass on what ive learnt on here, and to be honest we all need to help each other.

 

had my bank meeting this morning, they restructed the loan on the same terms ect, and its all sorted, just waiting for my money now!

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Have just had a nose through some online accounts going back to 2001 & it looks to me like they have debited my account on several occasions with the loan & then on the same day taken out a lump sump for loan protection! For Example - Loan amount was £6990 & was paid in then £1191 was taken out for Loan protection! Does this mean what i think it means?:D or not:mad:

Debt Free Since 1st September 2009:D

 

Target Savings For 2010 = £1000:)

 

Savings So Far = £700:lol:

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yes it sure does look like they have taken it out in a lump sum!

if you do not have your origianl agreement, write to them (recorded delivery) and ask them for your original loan agreement, and have a good read through that also.

I got them on the fact they took it out in a lump sum.

when i restructed my loan she informed me that the new PPI they do is now stand alone insurance, much cheaper and you pay for it monthly! and its packaged so you can just pick certain elements to be covered for! now this seems a more sensible option!!

 

I would certainly get your first letter off to the bank telling them you had been mis sold the insurance, and request a copy of your agreement, and whilst you waiting for that to come back (usually they will say it was not mis sold from the first letter), you can have a good read on here!!!

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I still have my current loan agreement somewhere ( Was looking at it a couple of weeks ago! ) & i am due for an "Interview" on the 29th May with regards to my PPI, I have written down the loan amounts, PPI & dates etc that i found out online last night. When i attend this "Interview to see what they have to say about restructuring do you think that i should a) Ask why some of my previous loans PPI was taken out in one lump sum & also why some of the PPI was taken out on a monthly basis or b) Write a letter now stating that i have been mis-sold & the reasons why? Can you advise littleprincess?

Debt Free Since 1st September 2009:D

 

Target Savings For 2010 = £1000:)

 

Savings So Far = £700:lol:

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I did not attend a interview to discuss my situation, i did all this by post, and only went in to restructure my loan, so to be honest im not sure what you should say to them.

i would def mention about the lump sum, and the other you mention that comes out monthly, is their new way of doing PPI, she did mention to me on monday that its now taken monthly alongside your loan instead of a lump payment. but certainly mention the fact it was one lump sum!

i would also send a letter to explain the reasons you want a refund for.

not sure about the monthly payments, can anyone else help with that?????

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MONEY WENT INTO MY ACCOUNT TODAY!!!!! WOO HOO!!!

 

I have made a donation to the site today also, thank you so much to everybody on here!

 

bank charges still ongoing and also my CCA for credit card held with HSBC, but fingers crossed, at least one battle is won!

 

THANK YOU ALL AGAIN!!!!! :-D:-D:-D:-D:-D

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Congratulations littleprincess - money in the bank! that's a phrase we don't get too much lately -

Very well done!!!!

I've said it over and over - you come here - you get help - then you end up giving help. I love it!

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Congratulations LP !

:D:D:D

That's a great result !

Just shows , if you keep at them , and you're in the right - you can do it !

Onwards and Upwards ! let's know how you get on with the other two ....... :):)

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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