I'm about to claim from HSBC...

robbs172

Hi all,

Having recently been informed by a friend about the PPI situation after he successfully claimed back £800 from Egg card, I thought I'd look into my financial history as I've taken out a few loans in the past.
I've received a loan agreement from a HSBC loan I took out in 2006 and noticed that I payed £950 extra plus interest which amounts to £1400+ and I really don't remember agreeing to this.

I have completed the form and almost ready to send off but am a bit pessimistic as in the loan agreement I have ticked boxes indicating that I understand about PPI etc. I really don't remember being asked about taking this extra out, and would never have done so knowing the costs involved as I was and still am in permanent full employment and the repayments were only £113 a month so family members could have helped me out if needed.

My dilemma is whether they'll come back and say you knew the PPI was included etc and therefor will not be paying out, any suggestions what I can put in Section E + F on the form? I could really do with reclaiming this and feel aggreived that I payed almost £1500 out for no reason!

Thanks in advance

Robbs172

di3004

robbs172 wrote: »

Hi all,

Having recently been informed by a friend about the PPI situation after he successfully claimed back £800 from Egg card, I thought I'd look into my financial history as I've taken out a few loans in the past.
I've received a loan agreement from a HSBC loan I took out in 2006 and noticed that I payed £950 extra plus interest which amounts to £1400+ and I really don't remember agreeing to this.

I have completed the form and almost ready to send off but am a bit pessimistic as in the loan agreement I have ticked boxes indicating that I understand about PPI etc. I really don't remember being asked about taking this extra out, and would never have done so knowing the costs involved as I was and still am in permanent full employment and the repayments were only £113 a month so family members could have helped me out if needed.

My dilemma is whether they'll come back and say you knew the PPI was included etc and therefor will not be paying out, any suggestions what I can put in Section E + F on the form? I could really do with reclaiming this and feel aggreived that I payed almost £1500 out for no reason!

Thanks in advance

Robbs172

Hi and welcome
Try not to worry about this, remember many have still been successful in making a reclaim on the PPI, even though the agreements have been signed/ticked for etc, so this will depend on the reasons you have given which they will have to take into account.

On the form, try to remember what you can.
Where/how it was sold to you, the telephone, internet, leaflet and so on.
Like any information that was given when the account was sold to you, if this was not discussed then confirm this on the form, or if you cannot recall on the policy being discussed.
So basically they are also asking if the cost of the policy was discussed with you? if not then confirm this.
If you can recall on asking any questions when the policy was sold to you.
Why you decided to take out the insurance? (It may have been that it was not dicussed, and it was added automatically, or they told you that it was part of the loan), or whatever applies to you to what you can remember.
And if at the time you had pre medical conditions when you taken this out, does this still stand.

Explain on the part where it asks why are you now unhappy with the insurance.......
Maybe you have only just became aware of the mis selling and realise it applies to you, if for example: maybe then you assumed it was all part of the package which was why the application/agreement was ticked, because you were not informed otherwise, or maybe you had a pre-med condition at the time you taken this out, and it was not explained to you that you could not make a successful claim for sickness for this reason, so now you believe the policy was worthless to you and you feel you have been deprived of your money.

Section E is the signing/declaration of the questionnaire.


Hope these examples help, good luck on your reclaiming.