MSE News: Got an HSBC personal loan? You could be due share of £218 million in refund
Former_MSE_Helen
Posts: 2,382 Forumite
in Loans
"HSBC has set aside nearly £218 million to refund the interest paid by some 'fixed sum unsecured loan' customers"...
Read the full story:
Got an HSBC personal loan? You could be due share of £218 million in refunds
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
Got an HSBC personal loan? You could be due share of £218 million in refunds
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Comments
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Hi, i have had 2 loans from HSBC under their Fixed-Sum loan agreement in Aug 2007 and July 2005. I have moved abroad and my contact details my HSBC account is now dormant. I have the paperwork for both loans, should I contact HSBC? Thanks0
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In these cases the bank will normally contact customers. Give them a few months at least and then look here to see if people have started to say that they have been contacted. If you aren't contacted yourself then, get in touch with them.
Best not to contact them directly yet. They will still be working through the process of setting things up and you just might get unnecessary hassle from people who don't yet know what's happening.0 -
Great, thanks for the advice0
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Will HSBC professional studies loan which was unsecured personal loans also be refunded interest0
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Will HSBC professional studies loan which was unsecured personal loans also be refunded interest
It will depend on whether the annual statements you received had these errors/missing information. You could have a look back at your statements to see, and that may give you an indication as to whether you may be going to receive a refund of interest.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
I dont think this applies, but HSBC taken over Endeavour Personal Finance (EPF) a few years ago from what I am aware of, so wonder if this will apply to EPF as such as well? not that they were mentioned......
Edited, saying that, this just goes for personal loans, so maybe not then lol..The one and only "Dizzy Di"0 -
£218m sounds like it could potentially be an awful lot of people depending on the number of years this went on for. I've got a loan from First Direct, so here's hoping the problem extends there as well.0
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I did have a loan which I have now repaid. Will I still be entitled to a refund?0
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Whether the loan is repaid or ongoing makes no difference.
If your loan was one of the affected ones that had an issue with the statements sent to you then yes you would get a refund of some interest.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
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