PPI claim against HSBC - a few questions

Raoot

Hello all,

Avid reader of this site and forum, first post on here, thanks in advance for any advice offered.

Ok, so I have a HSBC personal loan with PPI that I think I could be able to claim on. I just wanted to run the background of this past you and ask a few questions before making the claim:

I originally took out a loan for £5000 at the Willesden Green (London) branch some 7 or 8 years ago ( I need to dig out the paperwork to check this) but do have a vague recollection of being told that my application would stand a better chance of being accepted if I took the PPI. I may be wrong here but I'm pretty sure I was either unemployed, or at least part time or on a low wage at the time too.

A few years later I wanted to extend the load to £7500 and did this at their Hammersmith branch. I remember being surprised that it was so easy, the guy processing the application was quite young and fairly laid back, and put this through without many (if any questions) at all. I was then amazed to spot that he had actually given me an extra £7500 on top of my existing loan and stated something along the lines of "wow, I'd love all of that money but there's no way I could afford the payments" and he fixed it for me by paying off the previous loan with the new loan I believe. I understand this is probably the procedure but it was 100% a mistake on his part as I did actually have to re-point out it was an extension to £7.5 I wanted not another £7.5k!! Anyway, during this confusion there was definitely no discussion of PPI on this 'new' loan.

I have made two online enquiries with HSBC in the past two years about the loan, one in which I asked for the PPI to be removed and another to ask for an early settlement figure. Regarding removing the PPI I was told I had to visit a branch to restructure the loan......I replied to say not possible due to working hours and location......it didn't go any further. Early settlement figure wasn't what I expected, it was pretty much the full balance so appeared to include the PPI.

So my questions are:
- Can I claim on both the original £5k loan AND the subsequent £7.5k loan?

- If yes, should I address separate claims to each branch or just one to their head office or my account holding branch (in Cornwall, where I'm originally from)?

- Will my enquiries over the past two years have any bearing on my claim......i.e. "You knew you had PPI in 2008 but haven't done anything about it".

- And finally, do you think I stand a good chance given the info above? It appears that HSBC claims are a bit hit and miss.

Again, many thanks in advance for any advice offered. It would be an absolute godsend if I could get this back!!

Cheers!
Raoot

joncow75

I would definately look at claiming this back. I have recently been successful with claiming on 2 loans as I already had cover with HSBC (an income protection policy and life cover). I stated clearly my reasons with the details of the 2 account numbers and sent it to the following address:

The Manager,
Service Quality Team,
HSBC Bank plc,
Arlington Business Centre,
Millshaw Park Lane,
Leeds,
LS11 0PP.

They updated me after 4 weeks, and after 8 I rang to be told my claim had been processed that day and what the result was. I could not fault them at all. I had 2 other loans with HSBC that had PPI, but as I had cancelled my income protection policy by then I have no intention of claiming as this cover was necessary at the time

Good luck

Raoot

Hi Joncow75,

Thanks for the reply...........i've actually just been reading about your claims on here and made a copy of your letter for reference, so thanks again. So, only issue I have now is finding the account no on that initial loan.........paperwork will be somewhere, I keep everything......just not in much order or one place :think:

This has also got this thinking.....I wonder if I pay PPi on my HSBC credit card??? I have no idea! Best dig out that paperwork too then I guess.

Cheers
Raoot

Raoot

Quick question:
- Should I write separate letters for the old loan and the new one or combine into one letter, stating acc no's for each. Double whammy claim Or separate claims?

Cheers!
Raoot

joncow75

If you haven't got your account number - as I didn't for my second loan, jujst go into a branch as enquire what products you have had from them in the past. I did just that, without mentioning claims etc (Just said I had moved and couldn't find paperwork). Again HSBC staff were very helpful. As soon as I mentioned a potential miss sell the guy turned a bit darker, so I would avoid that