New boy needs help!!

MarkG76

Hi

Have found this site incredibly useful and have spent lots of time looking at various articles and forum postings all of which have been great. However everyones case is different and so am just looking for some advice or at least confirmation I am on the right lines.

Have 2 issues -

1 - A loan with Alliance and Leicester (now Santander) where PPI was added without my knowledge - am pretty happy with how to proceed with this and will be sending off my claim in the next day or two.

2 - The more complicated issue is my HSBC credit card. This opened when I was in my final days as a student (moving to a graduate account with them) in 1998. I was essentially unemployed as I was not due to begin work until September 1998. I have had the card ever since and being a bit useless with money have not really read the statements properly (terrible I know). Just recently have been spending more time sorting out finances etc - must be growing up! Noticed the insurance premium attached to my credit card that I am paying monthly. As a rule I don't take PPI on any financial products as I have an excellent system with my employee. Have I a case in terms of this being mis-sold to me? I realise it is a while back but no where along the line was I informed in detail about PPI? I also get the feeling that HSBC are one of the more challenging banks to get a refund from?!

I am going to phone HSBC tonight and ask for their advice and also request the amount of insurance I have paid over the years. Is it also worth requesting that I stop paying the insurance from now?

Thanks in advance! Will try and keep people updated as it is always daunting for someone new to this!

di3004

MarkG76 wrote: »

Hi

Have found this site incredibly useful and have spent lots of time looking at various articles and forum postings all of which have been great. However everyones case is different and so am just looking for some advice or at least confirmation I am on the right lines.

Have 2 issues -

1 - A loan with Alliance and Leicester (now Santander) where PPI was added without my knowledge - am pretty happy with how to proceed with this and will be sending off my claim in the next day or two.

2 - The more complicated issue is my HSBC credit card. This opened when I was in my final days as a student (moving to a graduate account with them) in 1998. I was essentially unemployed as I was not due to begin work until September 1998. I have had the card ever since and being a bit useless with money have not really read the statements properly (terrible I know). Just recently have been spending more time sorting out finances etc - must be growing up! Noticed the insurance premium attached to my credit card that I am paying monthly. As a rule I don't take PPI on any financial products as I have an excellent system with my employee. Have I a case in terms of this being mis-sold to me? I realise it is a while back but no where along the line was I informed in detail about PPI? I also get the feeling that HSBC are one of the more challenging banks to get a refund from?!

I am going to phone HSBC tonight and ask for their advice and also request the amount of insurance I have paid over the years. Is it also worth requesting that I stop paying the insurance from now?

Thanks in advance! Will try and keep people updated as it is always daunting for someone new to this!

Hi Mark and welcome.

Well I would certainly give it a go, even though its an older account it does not matter, I take it this is still running?

I would try to get hold of your terms and conds of this policy, they should supply them on request if you no longer have these, but not sure what difference this would now make to the monthly repayments, but if its worthless to you and you are protected elsewhere then there is no point in keeping it going.

If you want to cancel on this then you can do so the same time as reclaiming, make them aware that you already have protection in place, and its only now on checking you realise you have been paying for the policy all these years - as far back to your student days, where you realise you would not have been eligible then to make a claim when this policy was sold to you, which is why you are also making a request to reclaim on the PPI, you were young and vulnerable and assumed it all part of the package, if informed otherwise and given the option then you would have known not to have taken out the policy.

Give it a go, you've nothing to lose, good luck.;)

maxdp

Hi Mark

Well done for getting your head round all your paperwork. Think most of us on here have been caught out by these things at some time.

If you do not need the CC PPI then cancel it in writing you usually have to give one months notice.

If this PPI was added to your card when you were a student or unemployed then this was not appropriate.

I am sure you have a strong enough case to get this PPI back. Post up on here when you get a response from them and hopefully we can help you further.

Good Luck am sure you will be lucky here.

MarkG76

Thanks for that - will keep people posted.

amersall

MarkG76 wrote: »

Thanks for that - will keep people posted.

hi there, a friend of mine asked for ppi back with santander (a&l) on the 3rd of this month, got a letter back no quibble offering her all ppi and interest, she signed acceptance letter this monday 19th just waiting for cheque. hurry up and post yours!! good luck

MarkG76

Good news! How do you go about working out the interest due to you? Is there a particular rule to follow, will it automatically happen?

maxdp

MarkG76 wrote: »

Good news! How do you go about working out the interest due to you? Is there a particular rule to follow, will it automatically happen?

They should sort that our for you. Ask them for settlement figures if you get your PPI back.