Cancelling PPI CAN BE DONE!!!!!

Ham_On_Rye

Ciara111 wrote:

This is exactly what is happening to me... can you share with me your thoughts on writing the letter with regard to this?

My main issue is that my original loan agreement letter clearly states the two separate capital amounts, the two separate interest amounts, and the combined amount therefore which is to be repaid each month. There is no mention anywhere that the actual amounts debited are proportionally different, and so I think it's reasonable to request a written response clearly explaining HSBC's unwritten policy, including a full breakdown of capital & interest repaid on each item to date.

My assumption is that that will constitute a final response from the bank, at which point I will contact the ombudsman and ask them to clarify with me as to whether this amounts to a breach of my contract with the bank. I'm hoping they will agree with me on this, though I'm not entirely convinced...

JULIE

just wanted to let you know how we're getting on.

We're with hsbc with Loan protection costin us £102 per month. I've written to them usin the template on that link. we took out loan and protection in jan o5 called them 31 days later to cancel but as the limit was 30 days we we're told it was impossible to cancel.

sent the letter monday (after inspiration from readin this thread), got phone call yesterday with the lady sayin that we should've been able to cancel it in feb 05,and shes made an appt for hubby to go in and discuss (waste of time if you ask me but it humours them doesn't it)....

anyway i've now drafted another letter with aid of template to basically say that due to incorrect information given we've been making all of these expensive unnecessary payments blah blah and want refund of full premium paid...(I did make it sound good though)...so will let you know the outcome.

robbond55

Hi all.
A while ago I had PPI on a HSBC loan which has since been transferred to anothe4r provider. I tried to cancel PPI was told no can do as after 30 days. Only way branch would budge was to offer another loan at 4% higher APR.
Like I said I cancelled out that loan with another one from a differnt place, and took out no PPI on the loan and then got insurance from an independant insurers at a quarter of the price!
Can I claim back the money I paid on the HSBC PPI as I tried to cancel it before but was told no and at the time I acccepted it. Paid around £50 a month for 14 months.
Had HSBC call me tonight after a letter I sent in stating that the 30 day agreement was all I had if I changed my mind.
Can someone also PM me the template letter please?
Many thanks!!

JULIE

hi robbond55,

if you go on to the first page of this thread and scroll down to the 4th message left by roversbabe it has a link on there (the board fool one).....sorry don't know how to pm a link!!! its good, i've used it twice

Chubby147

tomandjerry wrote:

Hi Avogirly,

Could you send me the letter mentioned above (as PM), please, I'm in exactly same situation with the same bank?
Many thanks in advance.

taj

Hi, just joined the forum today please could you forward me the letter template many many thanks....................

Ciara111

JULIE wrote:

hi ciara111, please update us on how you get on,i'm in the same situation with PPI with hsbc :mad: and would like to know your outcome

Ok got my final response letter last week. They basically said "no". I then spoke to them and asked for a quote of a new loan without the PPI as they offered. They sent me a quote with PPI (cheeky)... where I have discovered the same as Ham on Rye that payments paid thus far havent been apportioned as agreed in the loan document. My situation is where I applied for the loan over the phone and it was told that I had to take it to get the loan. They say that they dont keep phone records that long,had the loan for 14 months. I feel like I cant win this one... and Im slightly annoyed because it seemed to work for a lot of others.Taking there offer, once I get the quote would see me getting a refund of 1800 and saving about £70 a month. I see that RobHarper has some luck with an online claim. Could you share how you did it?I dont think the banks are really afraid of the Ombudsman, who would probably side with them- in this case. Any comments would be greatly appreciated.

Ciara111

Just wanted to say that the debacle is now over. I managed to get a refund of almost £3K as well as compensation of £500 for all their co*k ups in correspondence. I think HSBC is one of the tougher banks to get a refund/missold allegation dealt with. Even when I went into the bank to sign off the papers the guy had the nerve to try to go through the PPI recommendation sheet. I looked across the desk and said.... Are you having a bad day? To which he said "NO"... I said then good... let's keep it that way and ripped the PPI document up in front of him. Needless to say he got the point.

xlesleyann

Can someone please post a template letter of what they wrote back to the company after they say no. I got a letter today from RBOS saying no even though I know they mis-sold it.

Also if someone could advise what they wrote on the court claim that would be great.

travissimo

Egg cancelled my PPI with no problems, I just wrote to them asking for it to be cancelled.
Just wondering though, after paying PPI for one year, am I entitled to any refunds?

Cheers, Trav

hopeless_case_2

that is great I would like a copy of your letter.
If the banks did not 'rob us blind' in the first place we would not have to do this