HSBC offer

pandaspot

Hi

I am posting this on behalf of a family member.

HSBC have made an offer as follows

Ppi premium redress : £132.06
Plus taxable interest at 8% : £97.32
Offer : £229.38

Ppi prem redress: £383.30
Tax interest : £254.26
Offer: £637.56

1st loan taken out in 2001 for £1000
2nd in 2002 for £2000

Should these offers be accepted? He has the paper work for the first one but not the 2nd.

What would you do?

-taff

Without paperwork, he can't really contest them.
Accept it.

pandaspot

He has the paperwork for the one loan, if I get the interest rate from him etc then is there a calculator or anything we can use to find out if correct? Or if I post here sure someone will give me an idea

pandaspot

As if by magic he sent me his credit agreement

So here are the details if anyone can help :


Credit protection insurance loan
Amount of premium £290.16
Amount of loan £290.00
Total charge for credit £ 49.85
Apr 16.9%
Total amount repayable £339.85

Repayment
Initial repayment :£14.17
First payment 1/5/2004
23 further monthly repayments at £14.16

-taff

If they are the details for the second redress amount above, then they're correct, and he's actually got more than he paid.

pandaspot

Yeah I would suspect so, I will let him know, and advise to accept

Thanks