I am trying to progress a claim for PPI with HSBC (which I started before the PPI deadline last summer). I took a loan out in 1994 (ish) and I am sure I took out PPI on it. However HSBC have come back to me saying they have no evidence of my taking out PPI as they have destroyed all records (which they say they have to do to comply with regulations) and, unless I can prove otherwise (ie, with bank statements showing I repaid a loan/PPI payments), they consider the matter closed. Now I don’t understand why they expect me to have kept paperwork from so long ago if they, as my lender, admit to have destroyed their copies! Are there any template letters out there that I can use as the basis for me to respond to get the matter settled properly?

Cheers

I think you might be stuffed tbh. Data Protection has always limited the amount of time that information should be stored, so the rules there to protect you may have had a detrimental effect on this occasion.

When I pursued my HSBC claim i received a letter saying I had no case…. a few months later the money appeared in any account and a week later I received a letter saying it had been reviewed and settled.

The weird thing is, my wife made a claim for a loan taken out around 1998 and they settled that one without any proof from our side. I just can’t see how they can say ‘sorry, we dumped all our records, tough’ and, as I am sure I took out PPI at the time, I want to pursue this.

I took a loan out in 1994 (ish) and I am sure I took out PPI on it. However HSBC have come back to me saying they have no evidence of my taking out PPI as they have destroyed all records (which they say they have to do to comply with regulations) and, unless I can prove otherwise (ie, with bank statements showing I repaid a loan/PPI payments), they consider the matter closed. Now I don’t understand why they expect me to have kept paperwork from so long ago if they, as my lender, admit to have destroyed their copies! Are there any template letters out there that I can use as the basis for me to respond to get the matter settled properly?

Why would a lender pay out on something they have no record of having sold you (never mind mis-sold), if you can’t even prove you bought the product. Ultimately any payment they were to make is because they believe there is a chance (but not a certainty) that a court would find in your favour. Imagine trying to convince a judge that you have no records, but are sure that something you bought 25 years ago came with another thing you didn’t want.

The weird thing is, my wife made a claim for a loan taken out around 1998 and they settled that one without any proof from our side. I just can’t see how they can say ‘sorry, we dumped all our records, tough’ and, as I am sure I took out PPI at the time, I want to pursue this.

Presumably their records suggested that your wife had a valid claim, perhaps the difference in time means the records weren’t destroyed (there may be many other reasons for that including actually having had a policy, still having an active account etc).

Why would a lender pay out on something they have no record of having sold you (never mind mis-sold), if you can’t even prove you bought the product.

Because if they don’t need to keep records, why should I? I genuinely took out the loan, I am not trying to scam them.

Presumably their records suggested that your wife had a valid claim, perhaps the difference in time means the records weren’t destroyed (there may be many other reasons for that including actually having had a policy, still having an active account etc).

I still use the same account with HSBC as I used when I took the loan out (and I have held since I turned 18 in 1985).

f they don’t need to keep records, why should I?

Because you don’t have legal obligations regarding retention of your data?

f they don’t need to keep records, why should I?

Just in case you needed to claim something was mis-sold ?

Was it mis-sold by the way, you seem sure you had it, so you must have been aware at the time I assume.

Was it mis-sold by the way, you seem sure you had it, so you must have been aware at the time I assume.

I recall being sold it as a mandatory part of the loan rather than an option. It was a long time ago though.

https://www.which.co.uk/consumer-rights/advice/can-i-take-my-financial-complaint-to-the-financial-ombudsman

I claimed re PPI, only because of the threads on here, I had no records of anything other than account numbers. Barclays told me I had payed PPI, but they had lost the records, hence they gave me an average amount for the time I had my credit card. So, it is possible for them to come to a more satisfactory solution for you. As ever, go with Cougar’s advise ; )

Weird thing actually.

I put in a couple of claims, oh, a year ago, maybe more now? Whenever the big STW thread was.

I got word back almost immediately from Santander going “nope, sorry” which TBH I kind of expected. I then got a phone call from HSBC from the guy actually handling my claim rather than some random chimp, spent ten minutes on the phone with him and got a cheque through the post a couple of weeks later.

Then a couple of months ago, completely out of the blue I received a letter from MBNA going “sorry, we’re still looking into this.” Which surprised me as I don’t remember actually making an enquiry with them, but I guess I must have done. A couple of weeks ago I got another going “sorry for the delay, we’ll get back to you within 8 weeks, here’s the ombudsman details if you want to complain” (which is how I knew about the above).

So quite what’s going on here and why it’s taking them like two years to process the enquiry I have no clue, I can only assume that either they’re screamingly incompetent or they’ve had a LOT of claims.

Maybe you’ll be the last person to get a payout, and they’ll just give you everything leftover – many millions/billions I presume.

The lenders are still dealing with the claims, it’s simple. A lot of lenders have downscaled the teams and left pretty much skeleton staff to deal with the claims that were in progress come the cut off.

You could be lucky, but expect more “nope, sorry” responses. It’s not their fault any longer, it’s yours for not claiming in time.. it was well publicised.

The only recourse if you are not happy is the Ombudsman, as has always been the case for any claim against a lender. You may find sympathy, you may not, but if a claim has been turned down by the lender and you have a letter stating such then you have the right to challenge that.. and the Ombudsman will undertake that for you.

Don’t expect miracles if you are short on paperwork, 6 yrs is pretty much all we keep. The rest, has probably been microfilmed or destroyed..

Its really for you to prove you have a claim now, and not for the lender to provide the service for you.

As mentioned in the first paragraph, lenders have downscaled support but still will be working on live claims.

Best of luck.

it’s yours for not claiming in time..

Except, the OP did claim in time. He said so in the first sentence.

@Cougar it’ll be a volume thing. I made a claim early last year and got 2 or 3 delay letters with the ombudsman information but sat it out and hey presto, cheque eventually arrived.

In regards to the OP, I think you’ll be out of luck here. I recall reading somewhere (MSE Forums maybe) that after a certain period of time it’s down to the banks discretion wether they looking into it or not. If they don’t and you don’t have paperwork then I wouldn’t think you have much of a case anywhere.
RM.

it’s yours for not claiming in time..

Except, the OP did claim in time. He said so in the first sentence.

Exactly, I pointed that out in my reply. Hence the:

The lenders are still dealing with the claims, it’s simple. A lot of lenders have downscaled the teams and left pretty much skeleton staff to deal with the claims that were in progress come the cut off.

&

The only recourse if you are not happy is the Ombudsman, as has always been the case for any claim against a lender. You may find sympathy, you may not, but if a claim has been turned down by the lender and you have a letter stating such then you have the right to challenge that.. and the Ombudsman will undertake that for you.

There is quite a lot I pointed out ^^ that should help the OP out. I simply added the current situation lenders are in to enable others understand why they haven’t heard anything or are not happy.

But if you read what I wrote, and understood it, then you wouldn’t have had to point out the obvious, because that is obviously obvious.

Santander farmed out their credit card business to MBNA in September 2001, so will pass the buck to them for claims after that date.

Except, the OP did claim in time.

Only just. If he had tried 5 years ago he might have got something. As it is you’re probably finished without further evidence.