Have i been mis-sold? please help

bannisterbadback

Hello everybody,

I'm new to these forums and really hope someone can help. Here's my situation. In June 2006 i took out a personal loan with HSBC to buy a car. The amount I borrowed was £4500 over 5 years at 14.9%. I applied and was successful over the phone and all i had to do was go into my local HSBC branch to sign the paperwork and the money would be mine. The guy in the bank wasn't pushy but i think he mis-sold me my PPI because he told me that i could get the loan if i did not take out a policy where if anything happened to me, the loan would be taken care of. I reluctantly accepted this as i didnt know better. i have been paying the loan back for 2 years 3 months at £130.98 a month. When i have paid the money back i will have paid off £7859.06.

This seems a lot to be paying back to me so i was hoping someone could tell me if i have a case or not

Thanks!

_Andy_

bannisterbadback wrote: »

The guy in the bank wasn't pushy but i think he mis-sold me my PPI because he told me that i could get the loan if i did not take out a policy where if anything happened to me, the loan would be taken care of.!

Hi

Sorry, I don't quite understand - are you saying he told you the PPI was a condition of the loan?
You've stated he told you that you could get the loan if you didn't take the policy.

Could you clarify? Thanks.

bannisterbadback

sorry,

that should've said i could NOT get the loan if i did not take out the insurance

_Andy_

Ah OK - that's what I thought. Well they definetely shouldn't have said that..however you do contradict yourself by saying he wasn't pushy. I think you might not have any joy with this one because they would have said on the phone (on a recorded line) that a) The PPI is optional and b) you'd been accepted without it.