Need some advice re my H's loan

alidadas

My H took out a loan earlier this year as our car died on us and we had to get a new one. He took the loan out with HSBC who we also bank with. (I think the loan was for about £6K).

ANyway, when going through our paperwork recently I found his loan agreement and noticed he'd also signed for the payment protection insurance. This is unlike my H anyway as he normally just refuses it, and when I questioned him why he took it he said he didn't realise he had.

Also, my H is in the forces so the chances of us ever actually using this insurance is very slim. If he had to leave work due to health reasons he would get a medical pension and a TFCS so the loan wouldn't be an issue, and on the very unlikely chance he ever got made redundant he's been in for a fair few years so again would have this money with which to sort the loan out - but this is an unlikely senario anyway. He wouldn't lose his job unless he's commited a criminal offence within the Navy - and as he doesn't intend on doing that any time soon this insurance is basically useless to us.

I suggested to my H that he cancel the PPI so he phoned up, was told to just send confirmation in writing and it would be done. IMagine our surprise when we then received a letter from HSBC saying as we'd had the loan for more than 30 days we were unable to cancel the PPI. In order to not have the PPI we would have to take out a new loan but that would just increase a debt overall and is stupid in my eyes.

This is costing us over £3k = interest.

Where do we stand with this? I saw a very long thread on here recently where many people had got their PPI refunded, I did ask for a copy of the letter but didn't get one sent to me so thought I'd post myself asking for advice.

I really want to get to a point where we're debt free (I'm going bankrupt tomorrow) - luckily my H is in quite a good position so we'll be able to pay off his debts but I begrudge paying an extra £3k+ for something which is useless to us.

chevalier

I think you could argue that your husband was mis sold the ppi. When he made the application, they must have known what his job is and that therefore the ppi would be of no use to him.
Try writing to them with that angle, and they may see the light and refund you
chev