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yay got an offer but..........
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# 1
Old 13-02-2012, 5:28 PM
MoneySaving Newbie
Join Date: Feb 2012
Posts: 1
Cool yay got an offer but..........

hi everyone

I have had an offer from hsbc for my claims on ppi.
they are saying i can have 1 lump sum of cash and my loan will reduce in monthly costs too.

but.......i have more questions

to reduce my loan they need to do another loan agreement with out ppi but will have to do a credit check first (im in the fair catagory on credit expert), they are also saying that if i dont pass credit check then i will have to use the money to pay off the loan. is this correct????

also as the amount is more than the loan amount left will i get the difference?? and is all the ppi taxable or just what i get in a lump sum??

views and comments most welcome
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# 2
Old 13-02-2012, 5:48 PM
Deliciously Dedicated Diehard MoneySaving Devotee
Join Date: Jun 2007
Location: South Wales (Gwent)
Posts: 42,528

Hi there

You can check your own credit rating status as well, by ordering a report for 2, or free for 30 days, make sure you cancel after that.

Google in Experian, Equifax, or just simply Credit Reports online (UK), see what they offer, you will know for yourself then.

Well done on your success.
The one and only "Dizzy Di"
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