PPI - A little help and advice please

WooBoo

Hi all

Just looking for a little advice if anyone can help.

Over 10 years ago I had a HSBC loan, jointly with my then partner. We split, paid the loan off from the sale of our house and then moved on with our lives.

Fast forward to this week where he pops up at my parents house asking to contact me (I'm no longer in the area) regarding a PPI claim on the HSBC loan as he needs me to sign to claim. By all accounts HSBC wrote to him regarding the claim.

My questions are these:

1) Why have I not also been contacted? it was in a joint name and I still bank with HSBC so it's not like they don't have my details.

2) *if* I sign, am I entitled to half? Will it be paid to him and he then gives my share (I'm a little unsure if this would actually happen) or will it be split 50/50? I ask because I haven't been contacted by the bank...

Any help and advice would be appreciated. I'm not sure if I'm wanting to open up that can of worms again...:o


Thanks

amersall

1) Because he was the first named borrower.
2) As this was a joint loan they need your signature.

If he tells them you are separated and asks for the money to be split (if redress is paid) this should happen, make sure the bank knows this and give them your address to send your cheque to, if you don't then he gets the full redress and he may not give you your share.

dunstonh

1) Why have I not also been contacted? it was in a joint name and I still bank with HSBC so it's not like they don't have my details.

He initiated the complaint and he would be first named contact on the loan account.

2) *if* I sign, am I entitled to half? Will it be paid to him and he then gives my share (I'm a little unsure if this would actually happen) or will it be split 50/50? I ask because I haven't been contacted by the bank...

The letter from HSBC will state how they are going to do it. It is possible he was trying to get the lot and HSBC wont realise the lot unless you agree to it. Their default may be 50/50. The letter they sent will verify this and that is what you need to see.