24-10-2011, 06:22 AM
1
Reclaiming PPI's
Many years ago in 2001 we borrowed short term from our bank (HSBC) at the time I questioned the large PPI attached with it, but was told no PPI no loan. We paid the loan off quickly by selling one of our rental flats, but had to pay the PPI on top which was £3k. Just before this we took out a small second mortgage on our house for some needed improvements, again we had a PPI attached.To cut a long story short, even though both PPI's were given over nine years ago and the cut off point for reclaims is 6 years, we just received over £5k from HSBC for basically mis selling both policies which includes interest. Result!
If we had been within the six years we would no doubt have received all payment back. But it's obviously worth trying and being patient, I was told no three times, all the paperwork involved long destroyed but eventually I got most of it back.
I have found in the past it pays to be persistent .
26-10-2011, 12:42 AM
5
Re: Reclaiming PPI's
We put a claim in 15 months ago, I have to admit I am getting a bit frustrated simply because the company who approached us said most cases are concluded within 7 months, we had a letter only last week saying the solicitors who dealt with us claim we don't exist.A quick phone call,then sending them the faxed proof, we had another email saying thanks we will now continue with your claim, and in my opinion that's not very good after this length of time
26-10-2011, 08:45 AM
6
Re: Reclaiming PPI's
It's a long time Kitty, but the stalling tactics used by large companies are common.I did all the reclaim myself, first approaching the bank by letter, then email then phone. Every reply basically said No, because all files now gone.
I went onto Martyn Lewis's website and found the appropriate forms to fill in and send, I printed them off and filled in all the information I could remember. But I didn't even have the policy number!
I went onto the Internet banking site as I still bank with them, have done since '81, and was able to find bank statements from nine years ago showing clearly the loan and PPI paid into our account. I had the proof. I sent these off. Within a month I received acknowledgments to my surprise stating TWO policy numbers in our name, one for the second mortgage taken out, which we totally forgot about, and asking for longer to sort things out. They mentioned they by law had 16 weeks in which to decide. That would have meant November so they paid up a month earlier.
Two weeks ago I got the letter making the offer, I expected much less, so accepted the offer. It was paid into my account within days. It took me in total 8 months.
Be persistent and patient you will get there.
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