Reclaiming PPI from HSBC with loan still running...

Dave_6

UPDATE, mates got letter from HSBC today offering to clear his loan off, he's bringing the letter round for me to check through later on, the values a little higher than yours Nixi

claim started last year but was on hold due to judicial review, he emailed the managing director to chase and now 3 weeks later this offer

Scottishrob79

*sorry, ignore this!

Scottishrob79

*sorry, ignore this!

amersall

NixiBean wrote: »

I don't think it is worth it all to be honest.

By my calculations:

Remaining Loan Payments = £2893.52
Minus Remaining PPI Payments = £576.10
(Hopefully Minus) PPI Paid (not including any interest) = £1893.04

This leaves an outstanding balance of £424.38 which I would need to find myself somehow. Not impossible though as that is only just over 2 months of repayments I've been paying until now. I am about to make another payment on the 28th of this month and I doubt I will have had any answer either way by then...

I recieved interest of £387 on a ppi of £908 plus £500 for the 8%
so on ppi of £908 i recieved £887 in interest alone,just think what interest you will get for a ppi you paid of £1893 !!.
If you did not pay the loan off if you win,then your monthly payment will go down and the balance of the loan also.

amersall

Scottishrob79 wrote: »

*sorry, ignore this!

Ignore what? (i am nosey).

amersall

Dave_6 wrote: »

UPDATE, mates got letter from HSBC today offering to clear his loan off, he's bringing the letter round for me to check through later on, the values a little higher than yours Nixi

claim started last year but was on hold due to judicial review, he emailed the managing director to chase and now 3 weeks later this offer

:j:j Nice one!! :beer:

amersall

amersall wrote: »

I recieved interest of £387 on a ppi of £908 plus £500 for the 8%
so on ppi of £908 i recieved £887 in interest alone,just think what interest you will get for a ppi you paid of £1893 !!.
If you did not pay the loan off if you win,then your monthly payment will go down and the balance of the loan also.

Edited...
why would you continue paying another 14mts of loan payments just to get £800 back, mis sell is the way to go and i would think with interest your loan would be cleared and you may get something in your pocket! and no loan to pay for 14 months, so that has saved you over £2000.

Scottishrob79

amersall wrote: »

Ignore what? (i am nosey).

I was going to ask Dave_6 about the timescale of the claim, but then I noticed he already mentioned it:cool:

amersall

Scottishrob79 wrote: »

I was going to ask Dave_6 about the timescale of the claim, but then I noticed he already mentioned it:cool:

Thanks for that
i wouldnt have slept without knowing that :rotfl:x

NixiBean

amersall wrote: »

I recieved interest of £387 on a ppi of £908 plus £500 for the 8%
so on ppi of £908 i recieved £887 in interest alone,just think what interest you will get for a ppi you paid of £1893 !!.
If you did not pay the loan off if you win,then your monthly payment will go down and the balance of the loan also.

Sorry, to clarify I the PPI amount I quoted includes the interest for the PPI element of the loan. 8% compound interest added brings the total reclaim to £2389.12.

By my calculations this would pay off the loan and give me £70 change I suppose it would be depend on what final settlement figure they give me...