Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
I took out an unsecured loan with HSBC back in August 2002 and was pressured into buying PPI when I didn't actually want it. The total amount was £7370 and the PPI was £1374.64.
A few years later, I lost my job and when I went to make a claim, they told me I wasn't eligible. Luckily I managed to find a job pretty quickly and only missed a few payments and quickly caught up again.
In August 2005, just as I was about 18months away from making my final repayment, HSBC offered me a new loan, which stupidly, I took. This loan was £7000 and £3522.29 was used to pay the remaining balance on the previous loan. This time I remember saying I didn't want PPI (because of not being able to use it a few years previously) but they told me that I wouldn't be eligible for the loan without it, so I was forced purchase it, although it was a much smaller sum at £190.05
I'm really angry about this because on 2 instances, I was pressured into buying something that I didn't want and I'd really like to know how I go about trying to claim it back and will I be able to claim back interest on it?
Also, I have a credit card with them (with a tiny limit) and lo and behold, they slapped on repayment protection on that too, without my knowledge as I most certainly didn't ask for it. I have mentioned to my bank manager on a few occasions that I don't want to pay it but she's told me that I have to. Is this true?
If it's not, can I claim this back too and how do I do it.
In August 2005, just as I was about 18months away from making my final repayment, HSBC offered me a new loan, which stupidly, I took. This time I remember saying I didn't want PPI (because of not being able to use it a few years previously) but they told me that I wouldn't be eligible for the loan without it, so I was forced purchase it.
This is important as with the dates. The Financial ServicesAuthority made a ruling on PPI and the mis-selling saga on 14 January 2005. So it would appear your loan falls within thetime frame for mis-selling ie after 14 January 2005.
I would suggest this is a time scale which allows you to claim:grin: wishing you good luck
Just to clarify, I can only try to make a claim on the PPI on my second loan in 2005 and not the PPI on my first loan in 2002?
I would suggest you try to reclaim the lot. If the HSBC try to fob you off Then I would suggest Financial Ombudsman first then Court, that way you have two chances of getting your cash back. If you go to Court first and lose the fos will most likely not take up your case.
The FOS may or may not take up your case on the 2002 loan but they seem to be interested in refinanced loans with PPI added in each case. I have stacks of claims and am awaiting full response from FOS on two complaints which may turn into three complaints following their advice.
Is there a suitable letter template I can use? If so, please can one of you lovely people point me in it's direction
Also, what address for HSBC is the correct one to send the letter to?
I'm going to try and claim the lot as I have a feeling that the reason the 2nd PPI was so small is that they'd carried over the first PPI.
I have nothing to lose either way. I'm just so fed up of HSBC. I've banked with them for almost 20 years, since I was 16 and they've taken me for a ride for far too long. As soon as I'm in a position to do so (which will be in a few months) I will finally be moving my account to a different bank.
I spoke to HSBC this morning and they've actually been very helpful
They've entered a complaint about the above on to their system and I've told them that they'll be receiving a letter in the post to confirm that I would like to be fully refunded.
Is it right that I can press for interest? If so, how do I work this out?
Lastly, while I was on the phone I asked about my Mastercard which has got PPI on it (paid monthly) and it's something I've never asked for and thought was standard and only noticed a few months ago (I rarely if ever use my Mastercard.)
The nice lady told me that it's been on my account since 18th January 1996!!! This was just after my mother died, originally, she'd been the guarantor for my card should I have any difficulities paying it. So I think they added it as a matter of course and I don't remember signing a new agreement and I most definitely don't remember being asked if I wanted it.
So I'm going to try and get that refunded too. Again, I'd like to get the interest back on this as it's 12 years worth! How do I work this out?
cookie4413 vs. hsbc
back in August 2002 and was pressured into buying PPI
Reply With Quote
