HSBC PPI - Army - Help?!

LastFour

Hello all, this is my first post on this website, although I read it most days.

My husband is in the Army, and before we met he took out a bank loan, which a year later he extended. It will be paid off in March next year (thankfully!).

I had heard talk of reclaiming PPI but as he is in the Army, I had assumed that he wouldn't have this sort of insurance owing to his job. I know when we bought our sofas (interest free credit, had the money in the bank to pay outright, but thought we'd pay monthly for a year and keep the money in savings), they said that he wasn't in need of this insurance, nor eligible for it, because of his job.

Anyway, thought I'd double check his paperwork for it today, and low and behold there is almost £3500 of this insurance on it.

I am hoping we can claim this back? I'm sorry if I sound a bit daft but I have never had a bank loan in my life and don't really know how this all works!

I have looked on the HSBC website as that is who his loan is with, and it says to write a letter and fill in the form on the Financial Ombudsman website - is it really as simple as that?

If anyone could point me in the right direction or give me some tips, it would be greatly appreciated. I have read the info on here about it all but I'm worried I am missing something!

amersall

Hi there,you have a good claim here with your hubby being in the forces,look here for other reasons for mis sell and if any more apply to him then put the claim in.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

It really is as simple as filling the form in and possting it off!!!!.
Send it recorded delivery and give them 14 days to give you an acknowledgement.
If you need anymore help just ask x.

LastFour

Many thanks for your reply. It's good to hear it is as simple as I thought it was. I expected it to be a whole lot of hassle, but it seems straightforward - I thought I might be overlooking something!

I can't for the life of me think how he ended up with this insurance in the first place - he had no idea he had it. Mind you, I can't for the life of me think why he took out such a big loan either, but there we go!:rotfl:

Thanks for the tip on sending it recorded delivery, I wouldn't have even thought of that myself.

magpiecottage

LastFour wrote: »

Anyway, thought I'd double check his paperwork for it today, and low and behold there is almost £3500 of this insurance on it.

Sounds like a single premium added to the loan, which is difficult for a bank to defend a complaint over.

Either write to:

Service Quality Team (Complaints)
HSBC Bank plc
Arlington Business Centre
Millshaw Park Lane
Leeds
West Yorkshire
LS11 0PP

Keep a copy and get proof of posting (free from post office) or e-mail to [EMAIL="servicequality@hsbc.com"]servicequality@hsbc.com[/EMAIL] but remember e-mail may not be secure.

LastFour

Thank you. I always worry about doing things like this over email, so we will be posting the letter and form off tomorrow recorded delivery. Quite excited at the prospect of getting some of this money back. He's not due out of the Army for a long while yet but this would go some way towards our savings for a house for when he does get out Hopefully the complaint will be upheld, fingers crossed!

LastFour

Thought I'd update this. We sent the forms off recorded delivery on the 26th. Got a reply back today, with reference numbers for four different lots of this PPI. We only knew about one! Me and my husband have no idea about the other three. I haven't found any paperwork for them, and it's definitely not since we have been together. I wish he had have been more careful with his money in the past, but I suppose it's just one of those things. I have no idea of the amounts for these other lots of PPI, but have to fill in a questionnaire for each of them (so 3 more questionnaires to fill in), and send it back. The rest is just the standard letter saying they will update us within 8 weeks.

Fingers crossed!

Common_Sense_2

i would say good luck, but it's a simple open and shut case - Armed Forces personel are not eligible for 90% of PPI policies as the cover excludes claims arising from armed forces work!

LastFour

Common_Sense_2 wrote: »

i would say good luck, but it's a simple open and shut case - Armed Forces personel are not eligible for 90% of PPI policies as the cover excludes claims arising from armed forces work!

Thank you, I am hoping it will all come to a nice simple conclusion, and that we get the money back without too much bother. We need to save for a house for when he gets out, and it would be lovely to top the fund up a little:D