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HSBC credit card PPI & self employed.


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Hi. I'll try to keep it short & simple.

 

I was employed op to 2003, then started as self employed. Bank fully aware of this - I opened business accounts etc.

 

On the HSBC credit card, I had the PPI which carried on after I became self employed.

 

Would I have been able to claim on it ? Or should I now reclaim what I paid ?

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Hiya pigfarmer and welcome to the HSBC forum :).

 

Thats a good question, I think on balance the onus would have been (and still is) on you to stop the PPI when you became self employed.

 

As a PAYE employee it is easy to prove you have been made redundant and so invoke the PPI policy but as a self employed person it is virtually impossible to prove you are unemployed and therefore cannot invoke the policy however the change has been made by you not the bank.

 

All PPI claims are based on the banks miss-selling the policy by not informing you of all of the terms and conditions, you have actually changed your circumstances so its up to you to tell the bank.

 

If anyone else has any other ideas to help please feel free to say :rolleyes:

 

pete

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Hi pigfarmer - welcome to the forum......:)

 

Difficult one - were you required to notify them when you became self-employed under the terms and conditions of the PPI/Credit card?

 

Is it reasonable to expect them to spark on varying/cancelling an existing PPI when you opened business accounts........?

 

If the PPI had been sold after you became self employed it would have been a likely case of mis-selling.......

 

You could possibly write and point out to them that ,as you were self-employed from (date) , the PPI was no longer relevant , and could you have that portion of it back.

 

Others on the forum may come up with further suggestions.........so don't give up yet :)

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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I don't believe this pete - we pressed the button at the exact same time again!!!!!.........:D (Laffin fit to burst). Or thereabouts anyway , I must have been composing when you hit the button. I'm sure you've got my laptop bugged :rolleyes:

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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I was actualy 9 minutes earlier :) I think your copying me :D.

 

I like your idea of asking for it back anyway though, thats probably worth a couple of letters :).

 

pete

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:p

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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