HSBC Payment Protection Answer recieved that I had won!!!!!

lupogti

has anyone successfully received there PPi back from a HSBC Loan/ can you let me know what percentage you got back and if it followed the same tale as below????

Hi I sent a letter to HSBC asking for a refund of my PP for a loan of £5000 taken out in 2003 over 5 years. The payment protection was £1219.00.

I have just received a phonecall from HSBC telling me that the verdict was in my favour, its not even been 30 days!

He said he needs to calculate the figures but a letter will be sent in the post and that i will need to go into my local branch and re-structure.

This worries me slightly does this mean i will have to take out another loan, something I didn't want to do and pay interest all over again. Or will I be getting a refund and that will be taken off the outstanding loan?

I only have 1264.14 left on the loan, around 9 payments. How is this likely to pan out?

Will I / should I get 51 months worth of payment protection and the compounded interest on top of that? What should I be wary of?

Thanks

jonesMUFCforever

No you won't IMO.
Did you say that HSBC had mis-sold you the PPI or did you just want to cancel it?
You may end up disappointed - you might only get a couple of hundred pounds back!
You won't get the PPI refund backdated just what is left now.