Loan PPI - Court action!

jonesMUFCforever

Well said that man.

regularsaver1

what this before insurance regulation Jan 05? since then he would have signed for the insurance

the fact he said he didnt know he had it is a bit odd, because surely it would have been talked about

did the bank have it in writing that daddy would help pay off the loan if he was to have an accident ect

robert_harper_2000

I dunno why everyone wants to defend HSBC he would never have claimed and they know us well. His home isn't at risk or his job! - Thus insurance not very partical. If he knew what it really covered he would not have taken it so the insurance was mis-sold.

Why is no-one else seeing this#??

Their job is to advise you not to trick you into insurance

regularsaver1

not every insurer is advised - it could have been non-advised and they probabaly have to ask certain questions to him. suppose a bit more conversation could have established that he didnt need it, but was it not on any documents?

as i said in my prvious post - was this since jan 05 - the sale of insurance has been stricter since then. the loan provider has to offer insurance advised, or non-advised - also he would have to sign for the insurance, so i'm guessing this was prior to regulation?

robert_harper_2000

Yeah he is an idiot and did sign the documents... but still my argument stands lol feeling quite peristent on this one

Tootsie_Roll

robert_harper_2000 wrote:

I dunno why everyone wants to defend HSBC he would never have claimed and they know us well. His home isn't at risk or his job! - Thus insurance not very partical. If he knew what it really covered he would not have taken it so the insurance was mis-sold.

Why is no-one else seeing this#??

Their job is to advise you not to trick you into insurance

We're possibly not seeing it the same as you because we are looking at it more objectively. A bank would always have sold the loan with ppi at every opportunity, it protects your brother and them in the event of something happening. All your comments about it being a family business, he wouldn't have had to claim etc etc are all irrelevant to them, I and I am sure they will have seen it all before and no-one can predict what will happen in the future. You cannot absolutely guarantee his income for the forseeable future, families fall out and business' go under all the time.

In addition to this he signed the documentation including the ppi - to be blunt he should have checked it out at the time if he was unsure but like most he didn't bother because he wanted the money and common sense deserted him. Looking for someone to blame ? Blame him !

jonesMUFCforever

robert_harper_2000 wrote:

Yeah he is an idiot and did sign the documents... but still my argument stands lol feeling quite peristent on this one

Then I have to say it is you that has the problem not your brother.

regularsaver1

yeah he signed the documents - knowing the ppi was on the loan

the documents would have also said how much the ppi costs overall

robert_harper_2000

well ... it seems I was right. HSBC wouldn't back down unless it had too - I had a meeting with the manager and now it seems they have realised their mistake and refunded it!

At least they see sense!

Cumbrian_Male

Result :beer: