Is claiming PPI back easy?

Is claiming PPI back easy?

Author
Discussion

fjord

Original Poster:

2,143 posts

136 months

Thursday 30th January 2014
quotequote all
Long story short, i got a bank loan in about 2006 for a car. Loan was probably only about £3000.

I don't have any paperwork, cant remember the exact dates or monthly payments, I just know it was with HSBC.

Im tempted to try and claim back PPI after the barrage of adverts and messages but dont know if its worth the hassle, for what might be a small amount, or what might open up the floodgates to a barrage of spam letters, calls and texts etc.

I don't even know if i can claim back? Is it worth rining one of these companies to check?

Cyder

7,045 posts

219 months

Thursday 30th January 2014
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Don't use one of the companies, have a read through moneysavingexpert website for info on how to do it yourself. It's very easy to do.

pacoryan

671 posts

230 months

Thursday 30th January 2014
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The Leaper

4,938 posts

205 months

Thursday 30th January 2014
quotequote all
DON'T use a claims company: they will spend 30 minutes filling in the forms and charge you 30%+ of any gross claim amount paid.

DO write to HSBC telling them you wish to make a claim against miss-sold PPI and ask them to send you the forms. They are straightforward to fill in. Once done, send them off to HSBC and wait and see what happens. Report back your results here!

R.

Seti

1,921 posts

203 months

Saturday 1st February 2014
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So you don't remember if you had it but think you were mid-sold?

otolith

55,899 posts

203 months

Saturday 1st February 2014
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If he made a conscious and informed choice to take, he'd probably remember doing so.

Patch1875

4,893 posts

131 months

Saturday 1st February 2014
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I've had various loans/ cards over the years not aware of any ppi on any how would you know? Do you just file a claim and hope for the best?

djfaulkner

1,103 posts

217 months

Saturday 1st February 2014
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Have a look at moneysavingexpert, they have number for banks ppi helplines, ring up and ask if you ppi on your loan

bugmenot

129 posts

132 months

Saturday 1st February 2014
quotequote all
Patch1875 said:
Do you just file a claim and hope for the best?
No you submit a complaint that your PPI was mis-sold and present your reasons or evidence for it being mis-sold.

TTmonkey

20,911 posts

246 months

Saturday 1st February 2014
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You need a reason for claiming it back. It doesn't work if you jut say you didn't know you had it because they will have the form you signed saying it was included.....

Were you self employed or something at the time? Or were you told that you had to take the insurance to get the loan?
Research it before you claim.

so called

9,074 posts

208 months

Sunday 2nd February 2014
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Patch1875 said:
I've had various loans/ cards over the years not aware of any ppi on any how would you know? Do you just file a claim and hope for the best?
Just make a claim.
So far I've reached approx., £30k in promised refunds.
Still waiting on some and am going to make more claims.

Meps

120 posts

202 months

Sunday 9th February 2014
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I have made two claims which amounted in 32k payout definitely worth looking at if you believe you had some.

TTmonkey

20,911 posts

246 months

Monday 10th February 2014
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Meps said:
I have made two claims which amounted in 32k payout definitely worth looking at if you believe you had some.
Wow. I got 1550 last week and 6400 this week, got three outstanding accounts yet to settle.

eliot

11,365 posts

253 months

Monday 10th February 2014
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Meps said:
I have made two claims which amounted in 32k payout definitely worth looking at if you believe you had some.
How much money did you borrow to have £32,000 worth of payment insurance?

Patch1875

4,893 posts

131 months

Monday 10th February 2014
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How old were your original loans? I've not had any for 10 years +? Details on the banks website seem they may struggle to find a paper trail for old ones.

Gareth79

7,628 posts

245 months

Monday 10th February 2014
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eliot said:
How much money did you borrow to have £32,000 worth of payment insurance?
It's probably quite easy if they had a decent sized mortgage and perhaps a few cards. My sister had a relatively small mortgage and got something like £7k back. It was Northern Rock I think, they were both self-employed and therefore would have had little chance of claiming. In an ideal world they would have read through the paperwork and cancelled it, but in the same ideal world the salesman would have asked a few basic questions.

Patch1875

4,893 posts

131 months

Thursday 13th February 2014
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just done a bit digging into mine,turns out 1 credit card had PPI on it.

claim form submitted.smile

Patch1875

4,893 posts

131 months

Friday 14th February 2014
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Patch1875 said:
just done a bit digging into mine,turns out 1 credit card had PPI on it.

claim form submitted.smile
and another.

Meps

120 posts

202 months

Saturday 15th February 2014
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eliot said:
How much money did you borrow to have £32,000 worth of payment insurance?
One credit card for eleven years just paid out 20k

One loan from eleven years ago paid 12 k

The firm I used charged 15%

Patch1875

4,893 posts

131 months

Saturday 15th February 2014
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Meps said:
One credit card for eleven years just paid out 20k

One loan from eleven years ago paid 12 k

The firm I used charged 15%
Wow did you have a lot of money on the credit card? Both mines are from 2002 both fairly well used due to my overspending young free and single days!