PPI Claim

[Carl_2012]

I was wondering whether anyone could give me some advice. I lodged a PPI complaint on 4 loans and completed a Financial Ombudsman form to HSBC about 7 weeks ago. Today I received a telephone call today saying that they are still trying locate some the data in reference to the loans and that they will be in touch shortly.I was lead to believe that they have 8 weeks to resolve the issue, but to me it seems that they are someway short of meeting the timeframe. What should my next steps be?The loans range from the year 2000 and 2007, so I wouldn't imaging the data being that hard to find particularly during the latter years.

[ims21]

Yes they have 8 weeks to give you a final response. If they fail in this deadline you are free to get fos involved if you wish. A fos complaint will cost them £850.

 

If they fail at the 8 week time limit you could write them a final letter telling them that they have missed the deadline laid down by the FSA and if they do not resolve your complaint within 14 days then fos it is.

[Carl_2012]

Thanks ims21 I will bear that in mind.

 

Do you know what the options could be if they do not find the necessary data or paperwork in relation to my loans?

[ims21]

If it were me I would pass it to fos with a request that they have failed in their duty to treat you fairly in respect of the old paperwork an that fos should order them to make a reasonable estimate.

 

You might not be successful but you have to give it your best shot.

 

Court won't be an option since you would need evidence as the potential claimant.

 

If you haven't sent a SAR to the lender then that might be an idea too. There's a template in the CAG library (top left in green) which you can amend to suit. Add a line that says it is to include copies of all and any agreements you have ever had with them. Don't mention anything about wanting the SAR for PPI purposes though.

[Carl_2012]

Thanks IMS21

 

Is that 8 weeks from the date they sent me the financial ombudsman forms to complete or 8 weeks from them recieving my forms back?

[ims21]

It's 8 weeks from receipt of your claim.