PPI - HFC/HSBC - confirming monthly rate of PPI????

Pud842

Hi, any advice much appreciated!

I am trying to claim back PPI that put placed on a PersonalLoan Agreement (Interest Free Option 9) when I purchased a TV from Currys inJanuary 2004. The Agreement was with HFC Bank Limited.

HSBC has now responded advising accounts owned by HFC havebeen transferred and are to be serviced by HSBC. They are also asking for the Legal Agreement(confirming the monthly rate of PPI).

As part of my original submission to HFC I enclosed a copyof the Personal Loan Agreement, which shows the PPI box pre-filled with a typedcross. (I didn’t know this had beenincluded) However, I cannot find thatthe Credit Agreement identifies the PPI individually; there is a paragraphstating –

“If you have chosen(and been accepted for) optional Payment Protection Insurance (PPI) then themonthly amount payable in respect of the Amount of Credit and interest is theMonthly Repayment Amount less the Monthly PPI Premium of 13.7931% of theMonthly Payment Amount or such other percentage as we may notify to you fromtime to time” ??????

It does state on the Credit Agreement that the TV was£399.98 and the monthly repayment amount (including PPI) was £9.80.

Is there any chance of me working out and claiming back thePPI?
Thanks,

-taff

Was the agreement with Currys or did you go and get a loan from HFC and use it to buy a telly?

Pud842

The agreement was with Currys, the Sales Assistant in the Currys store dealt with the all the paperwork, it was printed and signed by myself there) but all the paperwork relating to the Agreement is with HFC (or now HSBC) - would they have a standard PPI rate?

[Deleted User]

Pud842 wrote: »

The agreement was with Currys, the Sales Assistant in the Currys store dealt with the all the paperwork,

If this is the case, then your mis-selling complaint should go to Curry's not the Bank.

Pud842

Thanks - Ok, but the agreement still doesn't show the amount of PPI that was included - it's within the monthly sum of £9.80 - so is it up to Currys to work that out?

[Deleted User]

Pud842 wrote: »

so is it up to Currys to work that out?

You don't have to work out any amounts which may be refunded. What you have to do is simply present Curry's with a robust mis-selling complaint. Saying you didn't know the PPI was included (when you clearly signed paperwork that states it was) is very unlikely to meet with any success I'm afraid.

-taff

You are not claiming anything back, you are complaining there was a epbolem with the sale.

Currys won't have been regulated then either, so they may dismiss your complaint.