HFC Bank 1995

siwatkins

I believe I was missold ASU by HFC Bank for a 5 year loan I took out in 1995 (I didn't need the cover due to my employment in the Forces at the time, but I was pressured into taking at least ASU to improve the likelihood of being accepted). It was obviously a long time ago, but my wife and I distinctly recall the conversation with the adviser and there was a lot of pressure at first to take both Life and ASU, and eventually, I agreed to just the ASU.

Anyway, fast forward to today and I'd long since written this off to expensive experience (The ASU cost £1500 inc interest), but was sorting out some paperwork from the loft and found the loan agreement. I've raised a complaint with HSBC, and don't hold out much hope, but just wondering if anyone else has had success going back so far?

Simon

brum1968

I also took out a loan in the 1990s and currently have lodged a claim, I contacted HSBC as I have all the paperwork, so we will see what happens, i have filled out the questionaire, so time is ticking.

sun73

if your loans were set up with a single, upfront premium and you've got the account numbers with original credit agreement, your complaints have a very good chance of succeeding. One thing HSBC/HFS might ask for is proof of payment, try and get hold of some bank statements showing the direct debits from when the loan commenced and was repaid.

brum1968

Thanks sun 73, i have copies of the credit agreement on the loan, and they are front loaded with a ppi figure, it maybe more difficult getting banks to give me payment details from the 90s, although the guy on the phone at HFC was helpful last week.

siwatkins

My loan statement has settled in full stamped on the front as I took out a later loan with HFC (Without ASU), so provided a copy of that. Hopeful for a refund after your comments - will see!