Cancelling PPI CAN BE DONE!!!!!

markwilliams82

has anyone had any luck with doing this with a nationwide personal loan? i'm hoping to do this now to reduce my payments

alidadas

Hi I'm new to this site, could someone PM me the letter to cancel the PPI.

We contacted HSBC last month to cancel it and was told to confirm it in writing - well surprise surprise, just got a letter this morning advising us they wont cancel the PPI as its after 30 days.

Thanks

CAFCGirl

Attempting this myself with Abbey.
The PPI and interest on the PPI is costing me an extra £1000 on my loan amount!

Will let you all know how I get on!

pcg_2

I would relly like a copy of the template letter

marsden_pete

and me as having problems with HSBC cant a copyof teh letter be made sticky at the top of this forum?

cdc02254

Hello All,

Im new to this forum, I am in the process of trying to renegotiate my HSBC personal loan :eek: but the first thing I want to do is cancel my PPI.

Can someone send me the template you have been using to send to HSBC.

Also does anyone have any advice on how I can reduce my loan payment by speaking to HSBC.

Many thanks in advance.

gantybop

Grrr! Now I'm angry!!
Just had a long meeting with thr HSBC to cancel PPI. To be fair, the lady there was extremely helpful, all calculation were done (again, they have to cancel the old loan and issue a new one - instead of simply refunding any un-used protection on your current loan).

I was waiting there with baited breath... How much will I save?! Can christmas go ahead this year?! The wife will be thrilled!!

Guess what

Mr Gant, you'll save £10 a month. With the added benefit of having NO protection.

I'm fuming!

Work that out! PPI in excess of £4000, only used a years worth of protection and I save £10 a month. I think I'm going to ask for figures for a full early settlement, take a loan out with someone else without PPI and let someother bank have all my lovely interest payments!!

Rant over!

peterbaker

gantybop wrote:

Just had a long meeting with thr HSBC to cancel PPI. To be fair, the lady there was extremely helpful, all calculation were done (again, they have to cancel the old loan and issue a new one - instead of simply refunding any un-used protection on your current loan).

This doesn't sound right at all. This is financial services 'churning' at it's worst. There appears to me to be nothing at all fair about what that extremely helpful lady did.

I don't work for a bank so I don't know what their latest 'procedures' require them to do in return for keeping their jobs and/or earning sales commission, but I worked in financial services long enough to spot a questionnable sale or attempt at one.

fayraz

Hi,

Is it possible I can have a copy of the template because I tried to cancel my PPI today at Yorkshire Bank and they said it has been over 30 days.

gantybop

Peterbaker, maybe "extremely helpful" wasn't the best phrase... very pleasent might be more accurate! I shall certainly be taking it further, should get the letter done today outlining the events of yesterday's meeting... Will let you know if I get any response!

Edit - re-reading the posts, there is a great deal of conflicting information regarding HSBC, I.E the 30 day excuse, must be confirmed in writing etc... Neither of these excuses were used on me, I was told immediately that yes it could be cancelled, but after the interest hike, it simply wasn't worth it (APR increased from 9.9% to 13%!) It'd be interesting if we could recieve an official procedure from the chaps at HSBC just so we know who they are lying to (unless of course it's all of us!)