HSBC PPI Claim now moved to FOS

[allison6564]

Well update on this one

 

I have just received a box of info from HSBC as sent another sar req but this time said I wanted everything.

 

On working through it there was a few interesting bits of info.

 

A letter from HSBC to the FOS dated may 13 Stating that there had been three PPI policy's

attached to three different cards.

 

I had been given the impression from them that the PPI had transfered from card to card

but no they are three separate ones with each one being cancelled before the new one started.

 

On the computer printouts there is only reference to two.

One from 98 Gold Card Protector...which was the Midland bank one and

another from Feb 06 called Premier Protector...the HSBC one.

 

Nothing on the third yet payments were taken up until it was cancelled in Nov 12

and they quote the reference number etc for the third in their letter

...so much for them sending ALL info in a star request.

 

I rang the FOS and followed it all up in writing via post and email

stating that now I have further info this clearly shows

there was three separate PPI policy's started be HSBC.

 

The second 2006 one clearly was not applied for

and this can be proven with the copy credit card agreement

from the time that does not have the PPI ticked or signed.

 

The third one that HSBC say started in 2008 has no agreement

or anything and we know nothing was signed and so again this

was automatically added by HSBC without our consent.

 

I then said that they have not been able to provide any documents

in regards to the first one but given that the second and third

were added without our consent then surely his gives us a little more credibility

that we never applied for that either.

 

At the ed of the day surely they now have to uphold our complaint

even if only for number two and three.

 

Oh nearly forgot when I was talking to the fos

she checked her records and said that they had contacted HSBC

and asked how many point of sales there had been and they said only one!

 

The lying toe rags and I pointed out that there is a CCA signed in 2006

which was done at their Preston branch as we remember going

when the account was upgraded to a premier account

and signed there so that is a second point of sale.

 

HSBC have lied throughout this whole thing and it shocks me .

 

Let's hope this final bit of info can swing it and the one small good thing

is that if we do eventually win the card is still active with a bal on it

and so the interest will be going up month by month which should increase any refund.

Watch this space.

[theoldrouge]

sounds like the tenner was money well spent:wink:. The other point to make loud and clear to the fos is as you now are able to confirm,it was a Midland Gold Card Protector policy that relates to policy one.Totally different product to hsbc Premier Protector, absolutely wrong to base any decision on a different products t&cs, I do not believe for one moment that hsbc do not have copies of Midland t&cs somewhere, and they are not producing them for one reason only

[Truste]

hi ,the same happend to my husband with hsbc platium credit card ,we gave up in the end the bank just wore us down ,goodluck.

[allison6564]

Message for OR ...I,be been trying to pm you but system says you can,t accept messages as over usage and you need to delete some the Allison

[allison6564]

Quick update on this one.

 

...after a very long battle

 

the FOS have written to say that HSBC are now going to make an offer but to give them eight weeks.

 

It never went to the ombudsman and I think my last letter as mentioned in previous post finally done the trick.

 

I can,t believe it to be honest as its been such a battle but

 

my advice to everyone is that if you believe you was miss sold PPI fight,fight and fight some more to get justice.

 

I,m now waiting to hear from them but

 

if my calculations are correct I will be in a position to pay my debts and finally get my life back on track.

 

The past two years have been a real hard slog,

 

dealing with creditors,

 

being bullied by them etc

 

and one person Old Rouge has been my rock and

 

I thank you from the bottom of my heart xxx

 

I will of course also be making a donation to the site as without it I would never of been able to do what I have.

[dx100uk]

if you haven't don't forget to CCA everyone

[theoldrouge]

this is excellent news Allison, and should encourage anyone not to give up when reclaiming

 

lets hope the offer matches your expectations, and then examine that SAR very closely again

 

in case there is more reclaiming to do:-)

[allison6564]

Well its been nine weeks now and nothing! I rang and emailed HSBC as requested by the FOS after eight weeks but not heard from them. Looks like they going to give me the run around. Urrgghhh just want to be able to sort my debts out and get on with life x

[citizenB]

Contact the FOS and let them know that HSBC are dragging their feet.

[allison6564]

the letter has finally arrived from HSBC and what a joke!

 

they state that are paying redress on all three protection policies that were in place since 1998

but their figures are a million miles out.

 

Refund of payments £3830

 

Interest £7517

 

Simple interest £613

 

Less tax £122

 

Total refund £11839.

 

I know that over £6k has been paid in PPI plus interest which is now as high as 28%.

This has been going on since 1998 so they are offering about a 5th of what it should be!

 

I am in shock to be honest.

 

I have all figures from 2005 but jot before that as the SAR that came back only went back to 2005.

 

What do I do now?

 

 

Write to them with my calculations and if so which spreadsheet should I use.

 

 

The one I did use only allowed you to enter one interest rate but it has changed quite a few times over the years.

What do they use to calculate.

 

It also says that for periods that they don't,t have info they use average card balance but the figures don't,t add up.

 

I knew this warn,t going to be easy after fighting all this time.

[theoldrouge]

dont ever remember seeing your spreadsheet, Allison, could you post it up please

[allison6564]

Yes will do OR but might not work on laptop at home as having issues with it but will try,

if not will do first thing in morning.

 

 

I am so disappointed as really thought this would pay off my debts but not over yet

 

 

I know they're wrong but will have to fight a little longer.

 

 

What would the FOS use to calculate if it goes back to them?

 

 

On my spreadsheet I used the average from 2005 to 2012 to fill in the missing PPI payments from 1998 to 2004.

 

 

Like I said though it was the interest rate that threw me as back in the early years would of been about 15% but then just kept going up and up.

[theoldrouge]

use average interest rate over the years, what did their letter say about their calcs?

[theoldrouge]

if I remember correctly you had statement(s) from 1998, and from 2004, so I would have averaged those over the initial 6 years

 

eg 1998 £5 pmth ppi, 2004 £10 pmth ppi av £7.50 for !st 6 years

[theoldrouge]

on the plus side of course you have now had an offer of 12k, although wrong, is alot better than this was looking 3 months ago:-D

[allison6564]

No laptop keeps crashing so I will upload in the morning. I used the average PPI payment from 2005 to 2012 as have all the figures for that. Basically this card was maxed out at 7 k for that period with min payments being made. Just payments alone are nearly 6k.

[allison6564]

The average PPI payment from 2005 to 2012 was £33.60 per month!

[theoldrouge]

6k from 2005 to 2012?surely not?

[allison6564]

My spreadsheet has six years at £33.60 per month = £2419 and then PPI payments were as high as £50+ per month after that so yes totting up to just u der 6k.

[theoldrouge]

ok Allison I will wait to see your spreadsheets, otherwise Im going to confuse myself:-)

[allison6564]

will try copying and pasting it

 

didn't work lol

[dx100uk]

attach it via the go advanced button bottom right of these msgs boxes.

 

 

then manage attachments

 

 

dx

[dx100uk]

cant see how you say its £1000's light when you've not calc'd it.?

 

 

ask them for a full breakdown too

 

 

dx

[allison6564]

I have tried that DX its my laptop jot the system my son plays those silly games on it and it is trashed lol will have to do it in morning but wish you could all see it now. Just for example though...a PPI payment made back in 1998 of £33.60 has nearly 1k compound interest adding to it on the spreadsheet which is at 22% which is what I have used.

[dx100uk]

the card is still active then?

 

 

dx