HSBC PPI

[nigel1804]

I have also come across a loan that my son had from HSBC . now this loan started on 1st sept 2003 for 35 monthly payments.there is a principal loan and a seperate box named

 

"CREDIT PROTECTION INSURANCE LOAN" this spells out the following:

 

premium amount(including insurance premium tax) £xxx

 

Amount of loan £xxx

 

total charge for credit £xxxx APR14.9 % this is just for the credit protection insurance loan bit. Is this included as PPI and are we still in the time band as it completed 35 months later which takes us to Sept 2006......... Can we claim for this even though it is in his agreement...?

 

regards ndr1804.

[ims21]

I have also come across a loan that my son had from HSBC . now this loan started on 1st sept 2003 for 35 monthly payments.there is a principal loan and a seperate box named

 

"CREDIT PROTECTION INSURANCE LOAN" this spells out the following:

 

premium amount(including insurance premium tax) £xxx

 

Amount of loan £xxx

 

total charge for credit £xxxx APR14.9 % this is just for the credit protection insurance loan bit. Is this included as PPI and are we still in the time band as it completed 35 months later which takes us to Sept 2006......... Can we claim for this even though it is in his agreement...?

 

regards ndr1804.

 

If it was mis-sold then yes.

 

There isn't any time limit for ppi reclaims

 

ims

[nigel1804]

So which spreadsheet would I use for this type of PPI is it the statinsheet and do i use the total amount payable under the agreement to claim back

 

regards nigel1804

[ims21]

Hi

 

Have a read of No.1 in my signature...it tells you how to deal with single premium PPI. If you get stuck give a shout here and I'll help you out.

 

This is the spreadsheet you will need to use

 

ims

 

 

StatIntSheet v101.xls

[ims21]

I've started a new thread for your son's HSBC claim so it doesn't get mixed up with your own Halifax claims.

 

Continue with the HSBC issue here

 

ims

[nigel1804]

yes I have read that but what is confusing me is do i just do a single entry eg the total amount payable under this agreement............and does the 8% can i pm you the figures as they stand please.if i can remember how to do that.lolol.regards Nigel1804

[ims21]

Hi

 

I've moved the above post to this new HSBC thread.....please use this one for the HSBC and the other one for your Halifax issues.

 

Back in a mo

[ims21]

Hi

 

Can you out the figures up here please - as they appear on the credit agreement

 

Ta

 

ims

[nigel1804]

Can you out the figures up here please NOT SURE WHAT YOU MEAN DO YOU WANT ME TO JUST PUT THE FIGURES ON HERE NOW AND WILL THIS AUTOMATICALLY TAKE ME TO THE NEW THREAD

 

REGADS NIGEL1804

[ims21]

You are already on the new thread

 

Can you write up the figures here as they appear on the loan agreement please

[nigel1804]

UNDER "CREDIT PROTECTION INSURANCE LOAN " HEADED BOX

 

Amount of premium £685.77

(including Insurance Premium Tax)

 

Amount of Loan £680.00

 

total Charge for credit £150.30

 

APR 14.9%

 

total Amount payable

under this agreement £836.30

 

this was to be paid at initial £23.25 1st sept 2003 and a further 35 payments of £23.23 per month.....

 

hope this is a help..

 

 

nigel1804

[ims21]

Excellent

 

In the spreadsheet you make a list of each payment made giving the date of the payment, the description ("PPI Payment") and the amount.

 

You will end up with a list comprising 1 payment of £23.25 and, assuming the loan went its full term, 35 payments payments of £23.23.

 

The sheet will work out what you are due back including the 8% interest

 

The "claim to" date is today.

 

Go to the fos website and get a consumer questionnaire from the PPI section and complete it. Send a printout of the spreadsheet, the completed fos questionnaire to the lender together with a brief covering letter requiring refund.

 

They will have 8 weeks to investigate and give you a final decision before you can pass it to fos to deal with.

 

ims

[nigel1804]

So basically we can take it that the 35 payments went out on the 1st of each month my son credit rating is impeccable so it would of done. so in that statinsheet there will be a list of 36 payments.is it normally cut and dry or will we have to go to fos for there 5 pennyworth.

 

thanks ims21

 

nigel1804

[ims21]

Hi

 

Yep you're right...there will be 36 payments in the spreadsheet.

 

The fos questionnaire will be where you state the reasons for the mis-sale.

 

Have a look here for a list of some more mis-selling criteria

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?61081-PPI-Some-Notes-for-Claimants..(1-Viewing)-nbsp

 

I would also spend some time looking at the fos website and some of the case studies there. If you look at the adjudications where they have found in the claimants favour you can find a few more as well

 

Some cases are refunded without argument, others drag. Who can say what your's will turn out like but I would suggest getting you opening gambit as strong as possible.

 

ims

[nigel1804]

thanks for the advice ims starting to loose a few rusty bits now just struggling to print the damn thing now.....might see you tomorrow good night and thanks once again.nigel1804

[ims21]

You're welcome

[nigel1804]

Morning, just trying to build a letter on my sons case. I think my son thought it was all part of the deal as it comes on the same sheet as the loan details. it was his first loan he had taken out. So in this light could it be said that it was not made clear to him.

 

regards

 

nigel1804

[ims21]

You don't need a case letter as such. All of your mis-selling arguments will be put on the questionnaire. You only need a brief covering letter.

 

[nigel1804]

hi ims, on the form statinv101 for my sons case, I have filled in the 36 monthly payments, but on the top where it says account numer its gone funny and it also says the monthly payment of PPI is 836.30 should that read total PPI. not monthly.....will they pick up on this.

 

regards nigel1804

[ims21]

You can leave the headings as they are.

 

What do you mean by "gone funny"?

[nigel1804]

there is a 14 digit acct number and as soon as i go to fill form in and move the curser away from the box it turns into 4.0271E+13....!!!!

[nigel1804]

If i go back to the box with the curser and double click the original number comes back. but it will not let me print out the completed form with the corrct number in there.

[ims21]

there is a 14 digit acct number and as soon as i go to fill form in and move the curser away from the box it turns into 4.0271E+13....!!!!

 

You can either change the number format of the cell from "General" to "Number" or just put a ' character in front of the number.

 

Unusual to have a 14 digit account number

[nigel1804]

its put down as a loan acct number. in fact when studying it they look like they have incorporated there sort code into the number can't be a coincidance surely that the first four numbers are the sort code of the branch.how do i change format to number. double click on the box to reveal the the hiden formula.???

regards nigel1804

[nigel1804]

sorted it ims i seperated the first six numbers basically the sort code from the rest. might be usful for others.

 

regards Nigel1804