PPI reclaims whilst in armed forces?

lufc7

Hello all, it's great encouragement to hear all the success stories. Just received another letter from HSBC, saying to an extent the are still waiting to investigate my claim and that they are dealing with complaints received prior to mine. I'm just curious if anyone has been successful in claiming PPI back, using the lines that because they were in the armed forces ( I'm in the RAF) that sickness, and injuries are fully covered that I had life insurances with work and I was contracted for the full extent of the loan period, so in essense the PPI was a worthless add on.( I do believe I was told the chances of getting the loan would be easier with it, but I have mainly stuck to the work related issues in my complaint) once again well done everyone and would appreciate any feedback thank you.:)

dcfc36

My HSBC Loan is = £15,000 at 8.9% back in 2004 ( for 8 years )

Payments are = £381 a month ( including ppi )

I have made 83 payments of £381 and still have 13 left.

A £15,000 loan over 8 years with 8.9% interest is £21,021

but i have already paid £31,623.

if i never put my claim for mis-sold ppi i would of paid back a grand-total
of £36,576 JUST for a £15,000 loan over 8 years.

I have already been to HSBC bank and the lady even said i will get my mis-sold money back. and i`m guessing that i have been paying ppi included into my loan with 8.9% interest since day one.

My question is: if i have paid them £31,623 already and i should of paid them WITHOUT ppi included £18,177.......should i get the difference back?????

( i am at my 10th week waiting for a final responce!! )


when the guy at HSBC finalized my loan he said for a £15,000 loan over 8 years with ppi included comes to £26,130.

THAT JUST DOES NOT ADD UP AT ALL!!!

if anyone can help me out with any of this or if someone is in a simulair situation i would be so grateful for your help and advice!

Thankyou!

DCFC36

martinfg

lufc7

I too am RAF and have successfully reclaimed from Barclaycard and NatWest. (although the Natwest reclaim went to the Ombudsman initially due to Natwest dragging their feet during the judicial review).

My reason for the mis-sale was same as you, I was covered by my employment and the banks knew this at the time, therefore they did not take reasonable precautions to ensure the policy that they sold was suitable for me, and indeed never would have paid out in any circumstance.

Hope this gives you some encouragement.

M

lufc7

martinfg wrote: »

lufc7

I too am RAF and have successfully reclaimed from Barclaycard and NatWest. (although the Natwest reclaim went to the Ombudsman initially due to Natwest dragging their feet during the judicial review).

My reason for the mis-sale was same as you, I was covered by my employment and the banks knew this at the time, therefore they did not take reasonable precautions to ensure the policy that they sold was suitable for me, and indeed never would have paid out in any circumstance.

Hope this gives you some encouragement.

M

Yes, it does much appreciated. My grudge at the moment is with HSBC and they have never been quick with my complaints.hopefully though I will get a good outcome even if it takes a while.again thanks for taking the time to comment

amersall

lufc7 wrote: »

Hello all, it's great encouragement to hear all the success stories. Just received another letter from HSBC, saying to an extent the are still waiting to investigate my claim and that they are dealing with complaints received prior to mine. I'm just curious if anyone has been successful in claiming PPI back, using the lines that because they were in the armed forces ( I'm in the RAF) that sickness, and injuries are fully covered that I had life insurances with work and I was contracted for the full extent of the loan period, so in essense the PPI was a worthless add on.( I do believe I was told the chances of getting the loan would be easier with it, but I have mainly stuck to the work related issues in my complaint) once again well done everyone and would appreciate any feedback thank you.:)

Hi there,this is upheld,fingers crossed you dont wait too long for the decision and the payout

LastFour

My husband is in the Army and claimed for those reasons. We sent the forms off to HSBC in the very last week of August. We had a letter (sounds exactly the same as the one you just received) about 3 weeks ago. Then today a letter came through the post saying they are upholding his complaint and paying us rather alot more back than we had been expecting! We put exactly the same reasons in as you have. I hope you hear soon

lufc7

Just a quick update, called HSBC yesterday to give them a friendly nudge by reminding them they only had a couple of weeks left till the 12 week deadline I mean I would hate to have to cost them another £500 this year by referring another complaint to the FOS
Anyway while checking for an update on the complaint for me I was told a letter of acceptance had been sent to me on the 6th. So I asked for it to be resent the complaint was upheld I had worked out my redress amount to be £1053 using various available spreadsheets, and the redress sum from HSBC is better by £400. So very pleased with the result. No problems with claim so would very much encourage other members of the armed forces to look at their finances and reclaim if nessersary. GO GET YOUR MONEY!!