MSE News: Got an HSBC personal loan? You could be due share of £218 million in refund

Dorastar

Have banked with them for 25 years so would be nice to get a little back from them - have had quite a few loans over that time from them so here's hoping.

Thrugelmir

SeanCo wrote: »

£218m sounds like it could potentially be an awful lot of people depending on the number of years this went on for. I've got a loan from First Direct, so here's hoping the problem extends there as well.

Banks will shortly have repaid £23 billion in PPI compensation though you'd hardly realise it.

Lu_Lu

How do they calculate what you're owed and how far do they go back on these things? I presume it's all loans after 2008 as that is when this bit of legislation came into affect?

Would someone potentially get back all of their interest if there is no mention at all of over payments on any paperwork?

and is there any way of telling whether our loan would qualify for this?

Guess I am going to have to wait and see if they contact us so trying not to get hopeful!

amy2705598

eagerftb wrote: »

Will HSBC professional studies loan which was unsecured personal loans also be refunded interest

I hope so - I'm in the same situation!

Interestingly, my annual statement that arrived this week included the information about being able to 'settle in part or settle in full' where in the past it only mentioned the option to 'settle in full'. So I'm hoping the 'mistake' or 'omission' affected us too

But am also trying not to get my hopes up too much!!

Sashakins

Hi, has anyone had any updates on this story?
I have a current loan where the relevant details as discussed have been ommited from my yearly statements.
Hopefully will be due a refund too, but guess should'nt count on it eh!!

Superheavy

I'm guessing by the lack of activity and mentions on the thread that there haven't been any of these letters sent out yet. I'm sure some happy soul will break the news fairly quickly once they have received a compensation letter!

santradave

Hi, We left the H.S.B.C bank about 2 years ago we tried to get ppi back on a morgage account we took out with them for about 12 yrs also a loan taken out for a conservatory we had at the same time It was £14.95 per month on both for ppi but we were told we were not due anything. Why did we have to pay £14.95 on both accounts. I went into the bank and complained and there was nothing of the evidence on their computers of our accounts.But when I complained in writing I gave them the dates it was taken from our account.Is their anything we can do. please.We also have had card protection with the H.S.B.C. can we claim for that. We have only just this week stopped paying for the card protection.
Kind regards santradave.

Superheavy

Hi Sandra,

If you head over to the reclaim PPI and other Insurance board I'm sure some of the guys there will have more experience, and if you have any more details about your policy I'm sure they could offer some sage advice.

I'd also advise you to delete your last post, as I know that personally I wouldn't like to have my name and address visible on a public forum.

Good luck.

TBeckett100

I emailed them via the online banking system and they have responded to say they know of no issues and they don't know what I am talking about.

I guess the pyramid is the shape it is for a reason

TBeckett100

An update, the team are aware of these issues and it will take months not weeks to contact customers so hold tight.