HSBC-Credit Card PPI, Still Paying! **** SUCCESS ****

[candyapple1]

Am working out average rate now, unfortunately think it will be a bit lower than what I thought, but not 13.2

[candyapple1]

OK, added all monthly interest rates, divided by number of months, and multiplied by 12 to get average APR. That comes to 17.967% Even lowering the APR on the spreadsheet, they are still 10,000 under on their offer. Have emailed all this info, and asked them to justify using such a low APR for the compound interest. Let's see what next week brings.

[candyapple1]

Has anyone referred an upheld complaint to the FOS because they believe the amount is too low? Does it take the same amount of time as a complaint that has not been upheld? And most importantly, has anyone done this successfully?

[candyapple1]

EVEN WHEN YOU "WIN", YOU LOSE

 

We have very unhappily accepted the offer from HSBC. The money is worth more to us now, than in the year the FOS advised me it will take to address the complaint if we send it through to them. I am so angry and upset that even with all the right of justice on the side of the consumer, we are still suffering. I know some of you will think we should have referred it, but the money is such a massive help now we can not really afford to turn it down. I am going to go ahead and make an official complaint re the entire process and mishandling by HSBC, the denail of documentation (I plan on taking that one to the FOS, OFT and ICO), and how they have calculated the final offer, but I should be celebrating right now, instead I still feel ripped off by one of 'Britian's Finest Banks'.......

[slick132]

Hi Candy,

 

You obviously have your reasons for taking what they've offered now.

 

So focus on this, and not on what you could have had if you'd held out and waited for the FOS to deal with it in a year or two.

 

You've made your decision and you should feel more comfortable with it as time passes.

 

Edited February 21, 2012 by slick132
typo

[WFLOSS]

Candyapple

Try not to think about it as a loss.

Ok they should play fair , but they don't.

I try to think that had I not come across this site , I would never have known that I could be refunded PPI and late fees plus interest . So I am much better off as a result.

 

Plus I liken it to selling something for a fiver that you paid 10 times more for , usually clothes with me still with a label attached . I don't see it as losing £95 but gaining a fiver plus wardrobe space.

 

You have really done well, especially as you managed to get old data back.

I am in a similar situation with HSBC , they are limiting the refund to 6 years unless I can provide extra data, which I cant , so their offer is a fifth of what it should be.

 

I haven't decided what to do yet, I have written to them , but so far no response on that.

 

So please celebrate and think about the difference the money they have offered will make to you now , rather than what you could have.

 

Well done

 

Regards

WFLOSS

[WFLOSS]

Candyapple

I meant to say spent a £100 and sold for a fiver on ebay in my last post - its no wonder they managed to charge me PPI for 20 years without me claiming or questioning it!

 

Regards

W

[candyapple1]

Thanks guys, I know, it's hwat hubby is saying, I still feel a bit bitter at the moment though. The banks know how long the FOS are taking now, and am sure they factor that in!

[candyapple1]

Thanks one and all for all your help, without you would never have gotten this far. IMS, can we change the message title to success?

 

Cheers

[ims21]

Hi Candy

 

I agree with the above...a bird in the hand etc etc.

 

When you get the money in your bank just shout here and we can change the thread title for you

 

Regards

 

ims

[candyapple1]

Thanks IMS, and yes that is right, so am going to feel good about it At end of the day, money I didn't even know about in September, totally kills our debt and leaves us with some to pay off the house, and maybe have a great holiday!!!!!

 

The acceptance letter we sent back yesterday said it would be in our account within 10 days! Not that I am holding my breath

[candyapple1]

OK, well, am happy to say the total amount of our redress offer was put into our bank account last Monday!!!!!!! Thanks everyone for all your help, will be making a donation to CAG. Only about another ten months to wait for BC!

[ims21]

Hi

 

Thread title changed to reflect your success....well done

 

ims

[sharburrys]

Hi all

 

I have got a similar problem with HSBC and put an SAR request in the beginning of January and I have just received a big box which is full of rubbish....

I would like to see whether I was paying PPI charges on my credit card and my bank account as HSBC charged me over £1000s and I looked at the documents and looks very strange and not transparent, I am a bit confused; can anyone help me please? For example it states in one of the documents:

 

17th June 2010 INTEREST £49.50

17th June 2010 INTEREST £1.49

 

Is this the new style they have created to avoid paying PPI charges back to the consumers?

 

Where can I actually see the PPI charges or is there any other name they are using?

 

Regards

[candyapple1]

They can not put ppi as interest, on our credit card it was called cardholder repayment protector, you can have different interest charged in one month, one is for buying things, another for cash.....

[sharburrys]

Thank you for your quick response

 

but I have never withdrawn cash from my credit card? The statement shows the interest applied APR and then after few pages it seems they cut that coloumn and just the date amount and name?

 

Really confused

 

Regards

[candyapple1]

It's probably best if you start your own thread, adn then the experts can come along and help you. But I am pretty sure that if you had PPI, would say it in some form on statment. What format have they sent the info in?

[WFLOSS]

Hi Candyapple

Just wondered whether you can offer any advice about trying to get either my bank statements or flexiloan statements from HSBC as they are saying they do not hold the data beyond 6 years. I understand you got some earlier data they hold on microfiche.

 

Regards

W

[candyapple1]

H WFLOSS, sorry not been on for a while, the number for the UK Data Compliance Team is 01142529269. Good luck! The woman did say however that unlikely they kept bank statements beyond the six years, but worth a try

[candyapple1]

Have compiled four complaint today, all being sent recorded delivery tomorrow.

To HSBC:

1. Fact the PPI team told us in writing (two days after we received earlier statements from Data Compliance) that they only had statements back the six years.

2. Asking for ten pounds paid for SAR to be refunded to current account as we only had to pay it because of their actions.

3. Saying that we do not agree with how redress offer was calculated and would like it looked at agin.

 

To ICO:

1. Fact the PPI team told us in writing (two days after we received earlier statements from Data Compliance) that they only had statements back the six years.

 

Might not get anything out of it, but these large instutions bank (pardon the pun) on people not following through on complaints, especially when they throw some money their way!

 

Will keep updated as/when/if we hear anything. Have said on all three complaints to HSBC that if we don not hear within eight weeks, or are not satisfied with their response, we will be referring the matter to the FOS. Getting a bit addicted to all this official letter writing

[WFLOSS]

Hi

Thanks for the number. Will give them a ring and see what they say.

I need bank statements or the flexiloan statements.

I am so annoyed as I had every bloomimg bank statement up until a couple of years ago , when I shredded them as concerned about identity theft, burglars etc getting hold of them.

I am stuck with Barclays and HSBC as both are claiming they don't have the data, but if I can provide evidence they will reconsider.

 

It would be really interesting to know what the FOS view is on the missing data, as I cant see how I can complain if I can't prove I paid the PPI , but I haven't tracked any FOS successes in this area.

 

Regards

W

[slick132]

@ WFloss (and sorry to C Apple for the brief hijack)

 

The FOS will not deal with a complaint or query about older data being available or destroyed. That's a matter for the ICO.

 

We know that Barclaycard have supplied data beyond 6 years when court action has been taken seeking disclosure under the Data Protection Act.

 

Further discussion would best be on your own thread if you want to continue this.

 

[WFLOSS]

Hi Slick ( sorry candyapple)

 

Can I redirect you to one of my threads please as I have asked for help but no suggestions as I am stuck with Barclays and HSBC.

 

Regards

W

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?327285-Barclays-Masterloan-PPI-***-2-Down-1-To-Go-***&highlight=masterloan

[slick132]

WFloss, (Last hijack from me, for sure!! )

 

I see Ims just responded to your thread.

 

I'm subscribed to it now, so will keep an eye on it.

[candyapple1]

Just a quick update, still have not heard anything from HSBC about any of the three issues mentioned above. That could just be because of how long post takes. I did send a message through internet banking, and got a stupid generic reply, so late last week I emailed the chief exec office. However, very curious, just online checking current account online, today a 50 pound credit was paid in, with the description 'Goodwill Gesture'...will be curious what they have to say about that, what is it a goodwill gesture for.....if it is for the data being held back, or the fact i believe they underpaid our ppi refund, so not good enough! Anyone else had anything else like this?