Was PPI on loan if HSBC have gave us a plan number?

Lea28

Stupid question I know but we are new to this.

10 years ago my partner who was a full time uni student aged 18/19 had a HSBC 1500 student overdraft. Over the phone he was offered a loan to repay this overdraft back which he took. He then very stupidly spend the overdraft again!

He ended up in loads of debt not affording payments etc. to cut a long story short he ended up owing roughly £5000 which included a couple. Hundred pound worth of court charges. He had an attachment of earnings set up when he started work 1 1/2years later paying £50 per month.

Fast forward to now 8 years later and he is still paying! He now owes £200:T. He did not know whether or not he had PPI so last week he wrote questioning this. A letter arrived today saying they are investigating this for him and for him to fill in the questionnaire. On the top of the letter it said : RE payment protection policy plan: xxxxxxx.

Does this plan number mean he had payment protection?
And
Should they have added this knowing he was a full time student?
And
If he knew nothing about it does he have a case?

All advice welcome:)

-taff

If there is a number for the PPI policy, then he probably did have PPI. No, it's not really designed for students.
Did he sign anything realting to it, i.e. was it part of the loan agreement.
Also, if he still owes any money, any redress will go towards that.

McKneff

Good luck with it, if he wins they will only be taking the £200 off any money he gets...............

Lea28

-taff wrote: »

If there is a number for the PPI policy, then he probably did have PPI. No, it's not really designed for students.
Did he sign anything realting to it, i.e. was it part of the loan agreement.
Also, if he still owes any money, any redress will go towards that.

He has no idea at all, doesn't even remember the mention of PPI.
He was a very immature, teenage student who liked to party!

He only owes £200, probably less by the time it's sorted. Here's hoping he gets something back, for £3000 worth of debt he has paid almost £5000!

-taff

It probably will be less by the time it's sorted , but what I was getting at was if any debt was frozen, or a reduced amount of payments was agreed by the bank, then he may have to repay in full.
Well, hopefully, he's learned his lesson It took me more than 10 years to do that so he's one up on me already

Lea28

-taff wrote: »

It probably will be less by the time it's sorted , but what I was getting at was if any debt was frozen, or a reduced amount of payments was agreed by the bank, then he may have to repay in full.
Well, hopefully, he's learned his lesson It took me more than 10 years to do that so he's one up on me already

Knowing our luck they probably will say we owe more after paying near £2000 on top of what he borrowed! His account was closed and it went through solicitors pretty much soon after he took the loan out! So interest and charges added up to £2000 pretty quickly.

On the statement from solicitors that came with detailed payments for the last 8 years It had £1571 for overdraft and £2750 for the loan so in a short space of time £1250 was added on, wether this was PPI we don't yet know. A further £800 aprox was added on to the total balance.

[Deleted User]

Student loans do not normally have PPI added.

-taff

Do you mean that HSBC wouldn't have added PPI to a loan given to a student?
I know the Student Loan Company don't.

Lea28

Moneyineptitude wrote: »

Student loans do not normally have PPI added.

It wasn't a student loan, it was a personal loan from HSBC! We know that his student loans from the student loans company don't have PPI added on.

[Deleted User]

Lea28 wrote: »

It wasn't a student loan, it was a personal loan from HSBC! We know that his student loans from the student loans company don't have PPI added on.

Just fill in the Complaint Questionnaire. However, if your main complaint reason is that he was not aware of the PPI, then you can expect the bank to counter this claim with documentary evidence to the contrary.

Lea28

Moneyineptitude wrote: »

Just fill in the Complaint Questionnaire. However, if your main complaint reason is that he was not aware of the PPI, then you can expect the bank to counter this claim with documentary evidence to the contrary.[/

He is just going to go with the truth, he didn't know he had it, never asked for it and if he did have payment protection he could never have used it being a student. He couldn't afford to make the payments and fell behind.