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HSBC - PPI Loan Restructure
Frank_T_Boris
Posts: 13 Forumite
Hi,
Quick question, I am currently going through the process of reclaiming missold PPI on a loan with HSBC, the PPI reclaim is in process and they have written to me asking to go into the branch to restructure the loan, which I have done today, however the loan repayments, at the same APR and over the same term came to £20 more per installment than the original loan repayment without the PPI.
Which has left me a little confused.
Quick question, I am currently going through the process of reclaiming missold PPI on a loan with HSBC, the PPI reclaim is in process and they have written to me asking to go into the branch to restructure the loan, which I have done today, however the loan repayments, at the same APR and over the same term came to £20 more per installment than the original loan repayment without the PPI.
Which has left me a little confused.
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Comments
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I would look to see if they are trying to get you to repay the loan over the original period which would increase the payments.I am a former Broker, former IFA and former compliance officer, for my sins.
However, I have since seen the light.0 -
Thanks PeterMB,
Strangely the loan is for the remaining term of the previous loan, at the same interest rate, which is still leaving me a little confused
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