REALLY old PPI

danpangp

Hi
Ive just posted out a load of enquiries using MSE templates to see what PPI I have had, and the only positive was for a loan taken out with Endeavour personal finance, now with HSBC with 'ASU' insurance added as a lump sum at the start of the loan.
I paid the loan off in full after 3 years.
The insurance added was £8,950. Taken out in 2003.
the adviser were Compass finance (no longer trading).
I don't think I have anywhere to go with this as it was pre 2005.
I absolutely was mis-sold this insurance as we were told you have to take it to get the loan.
I have the statements from HSBC (last week) and a narrative from them stating they are not liable.
I thought it worth doing a final check with everyone on here before I forget about this waste of cash completely?
Cheers for your help in advance.

-taff

ASU is not PPI, so you wouldn't have got far even if they had been regulated.

Bermonia

Not entirely sure I agree with Taff’s assessment that ASU isn’t PPI - PPI has been known by many different names, if the insurance was taken out with your lending and covered your repayments if you were unable to work due to accident or sickness then this would indeed be PPI.

However I would agree that it appears to be out regulation so wouldn’t waste any more time or effort on it I’m afraid.

Hope this helps.

-taff

Bermonia wrote: »

Not entirely sure I agree with Taff’s assessment that ASU isn’t PPI .

I believe you are right.