HSBC OVER CHARGING on loan closure !

LordGazzman

In Feb this year i requested a settlement figure for my loan, i was given the sum of £26,554.43 which was valid until 18th April 07. I was advised (in writing) that i should continue my monthly payments of £504.38 and that these payments would be deducted of the settlement figure. WRONG, i made 1 further payment then HSBC closed my loan account debiting my current account with £26,418.56 instead of £26,050.05. AN OVER CHARGE of £368.51. I made 2 visits to my local branch and spoke to 8 different call centre staff over a period of 3 weeks who ALL promised to get back me. NONE of them called me back. I eventually spoke to my account manger and had to threaten legal action before anything was done. I was refunded but got no letter of apology, my account manger told me HSBC have a GLITCH in their computer system which generates an incorrect figure when closing loans off ! How many of YOU have failed to check what you were quoted against what you have paid ????
I have had 4 previous loans all with HSBC that i am now querying much to their annoyance, they have tried to put me off by telling me my query is a VERY LOW PRIORITY and i will be charged £30.00 AN HOUR for them to go through their archives !!!
Have HSBC got something to hide ????????? I will also be claiming back the PPI on each loan. Please check your bank statements and i will update you with how i get on .

Reidnet

A better solution for you may be to Submit a Subject Access Request under the data protection act requesting copies of all the information they hold on you. This would cost you £10 and they have to by law supply the information within 40 Days or they commit an offence.

Hope that Helps

Ian

jonesMUFCforever

Why will you be claiming the PPI back on closed loans?

LordGazzman

As HSBC informed me each time i took a loan i MUST have the PPI and all policies were within the last 6 years so i should be able to claim.

jonesMUFCforever

LordGazzman wrote: »

As HSBC informed me each time i took a loan i MUST have the PPI and all policies were within the last 6 years so i should be able to claim.

And you have evidence to that effect?
You should also know that when each loan was closed the PPI would have been partially refunded at the time so there is nothing to refund now (apart perhaps from the last one).
If the refund did not appear in your HSBC account then it would have been credited back to loan account to bring outstanding amount down.