The HSBC is the London based financial services organisation with nearly 8000 offices dotted all around the world but it is the HSBC PPI claims that have recently hit the news where many people across the UK have loans, mortgages and other credit agreements with the HSBC are now entitled to claim back millions of pounds due to the mis-selling of PPI policies.
The fact is that HSBC along with the other UK credit providers were slack in their business practices and although they have stopped selling PPI since 2007/2008 there are still thousands of cases need to be settled through their complaints department. If you have had a loan, mortgage or credit card with the HSBC you may be entitled to thousands of pounds in compensation which you can legally reclaim back.
Thankfully, there is some useful information on the HSBC.co.uk website published for you in order to get your claim started. In the first instance you will need the relevant documentation detailing the payment protection insurance policy that is linked to HSBC. They have five products listed on their website which may be relevant to your claim and this includes personal loans, cardholder repayment plans, Flexiloan repayment protection, mortgage repayment protection and small business loans which also relate to protection service cover.
How to Claim for HSBC Mis-sold PPI?
As well as the standard apology there is a short FAQ concerning HSBC PPI claims where you will need to fill out an online questionnaire or write to them direct, we have included the full contact HSBC PPI claims contact information on this webpage. The HSBC bank claim that they have an eight week period where they will be in touch with you with an update on your own situation concerning mis-sold PPI. You have the right, if you’re not happy with the service that they are offering to get in touch with the financial ombudsman who will take up your case for you or at the very least point you in the right direction how to speed up your claim against HSBC.
If you have made a complaint you may have to wait a few weeks in order to find out whether you have been successful in your claim for compensation, unfortunately there is a huge backlog of cases that need to be sorted out but you should receive written confirmation that they are dealing with your request within 30 days.
There is a nifty little flowchart on the webpage which shows the complaints procedure that the HSBC use, it starts with the initial complaint which is then logged into their system. If you have used a claims management company that this letter will be sent to them directly, your case will then be reviewed taken into account all the background information you have supplied HSBC a decision will then be taken on whether your claim is successful.
If your complaint is rejected you can of course appeal, your local citizens advice bureau can help you take the next course of action if you feel their actions are unjust. If your complaint is upheld then they will inform you of the amount that they have decided to award you in compensation. You have to agree to this offer in order for them to deposit the money into your bank account, you can of course appeal on the amount owed, but bear in mind that this will extend the time period of your claim, any appeals will probably add further delays to your HSBC PPI claim.