HSBC - PPI offer next steps?

MMachine

Hi,

Hoping someone can give me some pointers on my HSBC ppi claim!

I sent the letter off and have been offered an amount of £525 for 2 loans.
Looking at other people's offers this seems low for an initial loan of around 10k and a consolidation loan of around £15k to pay that and a few other things off.
1) does this seem low to anyone else?
2) I have no details anymore, is there a way to get this from the bank to double check amounts paid and total loan amount?
3) the offer of payment is "made without admission of liability" Not sure what this means if they admit I had PPI?
4) do you think it is worth looking into further and what would be my next steps?
I have searched online but getting confused on what to do!

Thanks in advance

Nasqueron

MMachine wrote: »

Hi,

Hoping someone can give me some pointers on my HSBC ppi claim!

I sent the letter off and have been offered an amount of £525 for 2 loans.
Looking at other people's offers this seems low for an initial loan of around 10k and a consolidation loan of around £15k to pay that and a few other things off.
1) does this seem low to anyone else?
2) I have no details anymore, is there a way to get this from the bank to double check amounts paid and total loan amount?
3) the offer of payment is "made without admission of liability" Not sure what this means if they admit I had PPI?
4) do you think it is worth looking into further and what would be my next steps?
I have searched online but getting confused on what to do!

Thanks in advance

1) It depends on how much you paid - paying off the loan early for example would rebate the PPI. The refund process is fixed, not haggled, you won't get more unless you can prove you paid more
2) If you want to spend £10 you can do a DSAR for a copy of all their records but it would be a waste of money as they will have used them for their calculations
3) They never admit liability, the value is low enough to be an auto-pay i.e. you may not have been miss-sold they just don't think it's worth fighting
4) There are no next steps - either accept the money or do a DSAR if you want to waste £10

MMachine

Ok thanks for the reply, I thought I read a few threads saying people have challenged the amount they had been offered that was why I was asking!
Cheers