PPI HSBC can't locate paperwork

[AmIGoingMad]

Hello! I sent the first template letter from MSE asking for copy of my loan documentation from HSBC as I'm pretty sure that I had ppi on it but can't find my documents as it was a while ago. A month later I've received letter saying that after a thorough search the documentation cannot be located. The letter is sent private and confidential without prejudice- which I've never seen before. They go on to say that I don't need documents to start ppi claim of that's why I'm asking for documents. Any advice on what to do next? Thank you!

How long ago was the loan? From the sounds of it, you will have a good claim if they can't find your paperwork, I'd probably be ringing them and asking them how to proceed with your claim now.

It's from ages ago- 2003 so I thought they might reply saying that they only keep records for 6 years- that's why I found the wording of the letter a bit strange and also quite promising. I didn't even have the loan account number but they've included this in their reply. I just don't understand how any claim can be processed without some paperwork mentioning ppi. Unless they'll look a bit harder if I make a claim?!?!

I've heard of something called a SAR to ask bank for but not really sure what it is or if it would shed any more light on the situation- confused!

If its over 6 years since the loan was paid off, they no longer need to keep the paperwork so without you still having yours its unlikely a claim would be successful - presume the wording is simply because they don't want to write anything that could be misconstrued (and if it's anything like the bank I worked at, we only had a finite amount of letter templates and had to choose the one closest to what we needed to write, not allowed to simply write one yourself!).

If the loan was taken in 2003 but less than 6 years since it was repaid, they should still have the paperwork.

RockChick is right, it is from the end of the loan not the beginning.

(The 6 year thing isn't actually stipulated in law, the stipulation is for a "reasonable length of time" however the FSA are in agreement that 6 years is "reasonable" if that makes any sense.)

Basically they don't need your original application as long as they still have statements which show you paid a PPI premium. They will also have a record of that total amount you paid and the start & end dates.

An SAR is a subject access request which is what you are making when you request copies of original documentation. That is what you effectively did when you asked for a copy of your agreement form.

They have given you exactly the right advice, follow it!

Thank you for your help. I'll fill in one of the questionnaires tomorrow and send it off!

Just use the one here op.

Don't bother with MSE, the FOS website has all the information you need.

MSE can be great but most of it is amateur opinion and some of the advice Martin Lewis gives can be decidedly dodgy. For example there was no need for you to request your application form. It was a waste of your time and could also have cost you money as banks are allowed to charge for SAR's.

All you need to do is complete the questionnaire and send it in.

Good luck

I claimed back ppi from 2001 onwards with HSBC. All I did was pop in branch and asked them. They printed off the records for me, gave me all the account numbers for the loan accounts, these were paid back well over 6 years ago. I had my settlements last year

Good luck