Help HSBC

nickyjl25

Hi all

I wrote a letter to HSBC on behalf of a friend to enquire about ppi on loans. She still banks with them & has just received a letter from them with account numbers , then it states the Loan Capital figure then it shows another figure under the heading of "loan drawn down amount" .

Does anyone know what this means?? Is it front loaded ppi???

also it states that they are unable to provide further details for 4more personal loan amounts due to only holding info for 6 years , yet they have included all the loan account details! Could she just send a sar for these accounts????

Thanks in advance

[Deleted User]

Yes, a Subject Access Request will provide the most comprehensive information available.
The "loan drawn down amount" may well be the PPI loan, but it won't be clear whether it was front-loaded until you know if your friend was paying the loan repayment as a single premium.

dilus

nickyjl25 wrote: »

Hi all

I wrote a letter to HSBC on behalf of a friend to enquire about ppi on loans. She still banks with them & has just received a letter from them with account numbers , then it states the Loan Capital figure then it shows another figure under the heading of "loan drawn down amount" .

Does anyone know what this means?? Is it front loaded ppi???

also it states that they are unable to provide further details for 4more personal loan amounts due to only holding info for 6 years , yet they have included all the loan account details! Could she just send a sar for these accounts????

Thanks in advance

Hi nickyjl25,
I have just googled "loan draw down amount" and it says

To drawdown a loan simply means using the money, i.e actually having it transferred from the bank to your account. You will be charged interest from the date of the drawdown.

This extra amount might just be a charge to transfer it to your friends account.
What was the amount of the Capital Loan and the draw down figure?

It may not be worth doing a SAR for the others due to lack of records but would be worth pursuing the other one if it could be pinned down as being PPI We need figures to advise better.
You could try a free trial credit check and see if that comes up with the previous ones

[Deleted User]

dilus wrote: »

It may not be worth doing a SAR for the others due to lack of records but would be worth pursuing the other one if it could be pinned down as being PPI We need figures to advise better.

The SAR will give the OP everything the Bank have on file. It won't be the first time if the SAR shows far more detail than the Bank were initially prepared to reveal!
Anyway, it's the same £10 fee regardless!

manama

Was this a flexi loan?

nickyjl25

Hi all

Thanks for your replies!

Dilus - loan cap amount is £6,250 & the drawn down amount is £8,929.46. Have similar details off them for 2 other loans

Money - I was thinking about the sar as when I requested the info for myself from natwest , they gave me details going back as far as 1997 but I never had to send a sar just a basic letter

Thanks

dilus

nickyjl25 wrote: »

Hi all

Thanks for your replies!

Dilus - loan cap amount is £6,250 & the drawn down amount is £8,929.46. Have similar details off them for 2 other loans

Money - I was thinking about the sar as when I requested the info for myself from natwest , they gave me details going back as far as 1997 but I never had to send a sar just a basic letter

Thanks

Hi Nicky,
First time I have come across the term "draw down amount" but I am guessing from those figures this is the total payable including interest. Do a SAR as Money is suggesting and take it from there

nickyjl25

Thanks Dilus.

I take it I only have to do one SAR as they are all with HSBC?

manama

nickyjl25 wrote: »

Thanks Dilus.

I take it I only have to do one SAR as they are all with HSBC?

Yes ask for all info they hold. Ensure you give all names you have had and addresses. Good luck.