HSBC Flexilife Income Payment Protection

[dreamer3000]

Hi,

 

I bought HSBC's Flexilife Income Payment Protection (individual) when I took out a business loan. It was mis-sold to me as I was led to believe it was compulsary and they wouldn't give me the loan without it but 3 years later when I was struggling, I was able to cancel it. I'm hoping this is the same as PPI? and I am able to reclaim. Would really appreciate it if anyone knows of this product to let me know.

[ims21]

When you say business do you meant sole trader or Limited Company?

[dreamer3000]

sole trader, well actually partnership, my husband and me but not limited regardless

[ims21]

OK standard PPI claim.

 

Fos questionnaire, spreadsheet of claim and send off to the lender

[dreamer3000]

Thank you. I don't have any info re payments made etc, am I right in thinking I shouls SAR them to get it?

[ims21]

Thank you. I don't have any info re payments made etc, am I right in thinking I shouls SAR them to get it?

 

Yes

[dreamer3000]

thanks

[dreamer3000]

Hi all,

 

I've had a response from HSBC who reject my claim based upon 3 reasons. 1) Policy was started over 6 years ago. 2) it lapsed 3 years ago. 3) no evidence of being mis-sold.

 

I contest this as 1) regardless of 6 years started, I was still paying 3 years ago. 2) it didn't lapse. I cancelled the DD when I hit financial difficultly and this came about as a result of me contacting HSBC to see if I could reduce payments on the loan. I was then advised I could cancel this and it was not compulsary. 3) it was.

 

Is the Ombudsman the next step? or another letter to HSBC?

[ims21]

Your images are too small.....you need to convert the to PDF before posting them.

 

There is not time limit for PPI claims.

 

It doesn't matter that it lapsed or was cancelled. You paid out the money and you want it back.

 

Challenge them first and if no joy then fos is the next step

[dreamer3000]

I think the problem is I had to use my phone as the scanner isn't working so it was a picture which I don't seem to be able to convert to PDF. Sorry.

 

I think your answer will still be the same. I'll try challenging them again with a closing statement saying I will give them 14 days to respond or something then I will be referring to FOS. That sound ok?

[dreamer3000]

what do you think to this response to their rejection?????

 

Dear xxx

 

I refer to your letter dated XXX and your decision to reject my complaint. I am therefore responding to your rejection and giving you a further 14 days in which to respond and change your rejection, at which point I will then be referring this to the FOS.

 

I strongly disagree on every account you mention in your response and I find the response simply, insulting. I will refer to them individually below:

 

The product is not PPI

 

I understand this and have never suggested it was. However, Income Protection and Payment Protection, essentially have the same principles and regardless was certainly mis-sold to me. (I will expand further below on mis-sold point)

 

The policy was started over 6 years ago

 

There is no time limit on such complaints. The way in which you have traded with me was unfair and mis-leading. Time plays no factor in this complaint.

 

The policy lapsed 3 years ago

 

The policy did not lapse. I cancelled the direct debit as a result of continuous communication with HSBC about my struggling finances (to which eventually led me into an IVA, which I have now settled). I contacted you repeatedly asking for help/ways in which I could reduce the loan/insurances paid to you to which I was never given any help. Yet 3 years on, it was suggested that I cancelled my Income Protection Plan. It was at this point that I learned that the plan was not compulsary and subsequently I cancelled the direct debit and the plan but as you claim, it lapsed.

 

The policy was mis-sold

 

I was sold the policy by Sharon Douthwaite at the Mansfield branch. I was always led to believe that the £20,000 business loan that I took out at the time, would not be accepted should income protection not be taken. I was ready to set up my business and needed the loan so I was given no choice and took the income protection plan and thought no more of it until the phonecall I mention above. A complete mis-sold policy.

 

Taking all the above into consideration and if you investigate this further, you will find in phonecall evidence the communications I mention above, by investigation into the way in which Sharon Douthwaite operated then under my account. You will see that the way I was treated was unfair and disloyal and on these grounds I ask that you recall your rejection and should you not, I will be referring to the FOS.

[dreamer3000]

I sent a similar letter to the above and still waiting to hear back. Where can I find the FOS complaints process on here?

[dreamer3000]

I haven't had a second response to this. Please can someone advise where I may find a procedure for raising a case with the ombudsman. Thank you

[ims21]

You could write a reminder letter to the lender.

 

fos complaints procedure is here

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html