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  • FIRST POST
    • Sparkydee
    • By Sparkydee 4th Dec 17, 8:27 PM
    • 2Posts
    • 1Thanks
    Sparkydee
    HSBC ppi redress?
    • #1
    • 4th Dec 17, 8:27 PM
    HSBC ppi redress? 4th Dec 17 at 8:27 PM
    Hi, I recently applied to HSBC with the resolver tool , for loans and credit card Ppi.
    I had my offer letter last week, which was great - repaying me loan ppi & some credit card too. However, I’m lucky enough to have a bank statement showing my ppi charge on one of the loans, which was £3329. The ppi repayment offer is listed on all as “PPI premium redress” and the figure (without interest) is £1737. Does this mean they have done the “comparative redress” thing? If so, should I try for more (even though I’ve sent my acceptance through)?
    Advice much appreciated!!
Page 1
    • zx81
    • By zx81 4th Dec 17, 8:47 PM
    • 14,409 Posts
    • 15,207 Thanks
    zx81
    • #2
    • 4th Dec 17, 8:47 PM
    • #2
    • 4th Dec 17, 8:47 PM
    If you've accepted it, no.
    • robbedofmymoney
    • By robbedofmymoney 5th Dec 17, 8:58 AM
    • 864 Posts
    • 1,569 Thanks
    robbedofmymoney
    • #3
    • 5th Dec 17, 8:58 AM
    • #3
    • 5th Dec 17, 8:58 AM
    hi, if you paid the loan off early then you would have had the remaining ppi deducted from the final payment meaning you would not have paid the full amount.


    this may explain why the amount is lower than the original premium.


    if the loan went its full term then I would query the amount they have offered you
    Barclaycard PPI £7,500, upheld
    Capitol One PPI £1,796 compound int £1,826 and 8% £1,642
    Lloyds LPI £3,400, upheld
    Lloyds LPI £2,500, upheld
    Lloyds LPI £7,500, upheld
    • Moneyineptitude
    • By Moneyineptitude 5th Dec 17, 11:35 AM
    • 18,912 Posts
    • 10,124 Thanks
    Moneyineptitude
    • #4
    • 5th Dec 17, 11:35 AM
    • #4
    • 5th Dec 17, 11:35 AM
    have a bank statement showing my ppi charge on one of the loans, which was £3329.
    Originally posted by Sparkydee
    That's obviously a copy of the original agreement, not a statement. It's also not proof that you actually ended up paying that amount. As already explained, if you paid the loan off early the PPI would have been reduced accordingly.

    To be sure, you can request the Bank provide a full breakdown of the refund and interest.
    • Sparkydee
    • By Sparkydee 5th Dec 17, 5:51 PM
    • 2 Posts
    • 1 Thanks
    Sparkydee
    • #5
    • 5th Dec 17, 5:51 PM
    • #5
    • 5th Dec 17, 5:51 PM
    Thanks for the replies. Moneyineptitude , it is actually a bank statement, I’ve not got the loan agreement- it shows the loan funds going in, the ppi and also the repayment of previous loan & ppi.
    I hadn’t however thought about the fact they were repaid early, very good point.. I know that 2 of the 3 loans were definitely refinanced so that makes sense. I can’t remember the first one so will assume that figure is right.
    I think the term PPI premium redress on my offer letter made me wonder after reading MSE page more. I might contact HSBC to clarify.
    • rowsthree
    • By rowsthree 5th Dec 17, 8:35 PM
    • 2 Posts
    • 0 Thanks
    rowsthree
    • #6
    • 5th Dec 17, 8:35 PM
    • #6
    • 5th Dec 17, 8:35 PM
    Thats good news, I applied on here 8 months ago, and Ive escalated it more than 6 times, all I get are emails from resolver saying your case is still open do you want to escalate, do you know how I can get round this issue or who to contact on here, I cant seem to see any links,
    • zx81
    • By zx81 5th Dec 17, 8:39 PM
    • 14,409 Posts
    • 15,207 Thanks
    zx81
    • #7
    • 5th Dec 17, 8:39 PM
    • #7
    • 5th Dec 17, 8:39 PM
    I'd suggest cutting out the middleman and just sending your complaint directly.
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