SKINTBOYand HFC PPI

[skintboy69]

Greetings all.

 

I wonder if anyone can give me a bit of advice.

 

I opened a current account with HFC twenty odd years ago. I don't remember discussing PPI at the time, but each month there was a small charge for insurance. I questoned it several times over the years but it was not until 2009 that they admitted that it was for life insurance.

 

They agreed to cancel the policy (they had always refused previously) and I requested that they refunded premiums and interest. They offered less than £100 which i rejected.

 

Anyway, to cut a very long story short, I sent an SAR to which they responded and I have sent a preliminary request for an outrageous amount, giving them 14 days to agree before I send a Letter Before Action for the County Court.

 

However, looking through the threads here, it seems that the most usual course of action is to complain to FOS.

 

What is my best course of action?

 

Cheers.

[dj1971]

Skintboy,

 

That is a matter of opinion.

 

It basically boils down to:

 

1) Referring your case to the FOS who will probably take up to a year to even appoint someone to look at the case. Then with all the back and forth contact between the adjudicator and your creditors, who they seem to be very biased in favour of, you could expect to get an answer within 12-18 months at a guess. However there are no costs involved for you and FOS will charge your bank £500 to investigate.

 

2) Submit a claim in court for which you will have various fees depending on how much you are claiming back. However in the unlikely event it ever gets to a hearing date roughly 6 months down the line and you win your case, you could claim back for all your costs.

 

My suspicion is the bank will not want to risk the case going against them and perhaps even setting president for future cases. They will push their luck and probably try to scare you into dropping the case, but just before the hearing, if not on the day of the hearing they will make an offer to settle.

 

But all that said it is only you who can make the final decision on which route to take.

 

Good luck

 

DJ

[skintboy69]

Thanks dj.

 

I would love to see them charged £500 but, at the end of the day, it's peanuts to the bank.

 

I think court is the way forward and it won't be the first time. I've sorted out many a credit card claim over the years and they seldom get the the courtroom.

 

They have, I think another week before my letter before action, so I'll keep you posted.

 

Cheers,

T.

[dj1971]

Nice1 Skintboy,

 

and for what it is worth, personally I agree with you.

 

Keeping fingers crossed for you and please do keep us updated as this helps others in finding the motivation to fight their case.

 

Good luck

 

DJ