Reclaiming PPI

Naetha

Hiya there, I'm sure there's a post on this forum somewhere about this, but I couldn't find it!

I took out a loan with HSBC in June 2004 for £12,000, which with interest and PPI came to a whopping £17.5k to pay back over 4 years. Now I was told at the time that I had to take PPI as they wouldn't give me the loan if I didn't. Now I'm pretty sure that the PPI wouldn't have covered me for at least the first part of the repayment time as I'd just started a new job, and I'm 99% certain it didn't cover the first year of employment.

I refinanced the loan in August 2006 without PPI as I realised the PPI was pointless and I was being scammed.

What, if anything, can I claim back?

I don't think I have the original loan agreement, but can I get this back from HSBC to reclaim charges? Also are there letter templates for reclaiming this sort of thing?

I'm very grateful for any advice you can give!

Edinburghlass_2

I'll just move this thread in the Loans Board where PPI and loans are covered.

Astaroth

There are no templates as it is arguing "ethics" more than arguing law.

Lenders can require someone to take out PPI as a condition of the loan however it is frowned upon.

Reading the current terms and conditions there is no requirement for you to have been in the job for any length of time other than for temporary or fixed term contracts. The only exclusion that is applicable to perminant employees is that you cannot claim if you are made unemployed within the first 60 days of the policy or you reasonably would have known about an impending unemployment at the time of taking the policy out.