HSBC ppi redress?

Sparkydee

Hi, I recently applied to HSBC with the resolver tool , for loans and credit card Ppi.
I had my offer letter last week, which was great - repaying me loan ppi & some credit card too. However, I’m lucky enough to have a bank statement showing my ppi charge on one of the loans, which was £3329. The ppi repayment offer is listed on all as “PPI premium redress” and the figure (without interest) is £1737. Does this mean they have done the “comparative redress” thing? If so, should I try for more (even though I’ve sent my acceptance through)?
Advice much appreciated!!

[Deleted User]

If you've accepted it, no.

robbedofmymoney

hi, if you paid the loan off early then you would have had the remaining ppi deducted from the final payment meaning you would not have paid the full amount.


this may explain why the amount is lower than the original premium.


if the loan went its full term then I would query the amount they have offered you

[Deleted User]

Sparkydee wrote: »

have a bank statement showing my ppi charge on one of the loans, which was £3329.

That's obviously a copy of the original agreement, not a statement. It's also not proof that you actually ended up paying that amount. As already explained, if you paid the loan off early the PPI would have been reduced accordingly.

To be sure, you can request the Bank provide a full breakdown of the refund and interest.

Sparkydee

Thanks for the replies. Moneyineptitude , it is actually a bank statement, I’ve not got the loan agreement- it shows the loan funds going in, the ppi and also the repayment of previous loan & ppi.
I hadn’t however thought about the fact they were repaid early, very good point.. I know that 2 of the 3 loans were definitely refinanced so that makes sense. I can’t remember the first one so will assume that figure is right.
I think the term PPI premium redress on my offer letter made me wonder after reading MSE page more. I might contact HSBC to clarify.

rowsthree

Thats good news, I applied on here 8 months ago, and Ive escalated it more than 6 times, all I get are emails from resolver saying your case is still open do you want to escalate, do you know how I can get round this issue or who to contact on here, I cant seem to see any links,

[Deleted User]

I'd suggest cutting out the middleman and just sending your complaint directly.