HSBC Loans 1996-98 - **Successful Claim **

[joncow75]

Having cleared through some more draws at my mothers I have come across yet more paperwork for old loans at Midland / HSBC bank.

 

The first loan was taken out in November 1996 over 42 months. Loan was for £5500 and had £750 PPI added to it. APR was charged at 9% and obviously front loaded

 

The second loan was taken out in November 1998 over 60 months. Loan was for £9500 and had £1697 PPI added to it. APR was charged at 9.9% and again seems front loaded.

 

As you can see the first loan roled into the second. Pretty sure I would have had a rebate but not sure if for the interest / PPI or both. I have no other paperwork showing any refunds etc, just the initial credit agreements

 

As per each of my previous claims I had 6 months full and 6 months half pay through work at this time, so would have been covered. The fact each of these was front loaded also helps my claim

 

If I had put in a SAR (I actually have done) on these loans, HSBC would (and have) said they no longer carry any information. However I'm pretty sure they will magically find info that may show any rebate against either of these loans if I put in a claim.

 

Just want to check that I have all I need to put my claim in?

 

Many thanks in advance

[citizenB]

Sounds as though you do have sufficient information to get them searching. I will flag your thread for the PPI guys

[joncow75]

Thanks CitizenB. I'm supposing its for HSBC to prove they paid me back a rebate if I have my credit agreement clearly showing how much PPI would have paid?

[ims21]

Hi

 

You have the evidence of these loans even if they don't so standard procedure applies...fos questionnaire and (ideally) spreadsheet of claim.

 

When you submit your claim you might like to send them copies of the agreements to (hopefully) stop them saying they can't look at the complaint as they have no records. Make sure thay are copies that you send them...do not let them have the originals.

 

ims

[joncow75]

Thanks IMS

 

Forms completed and credit agreements copied. Off into the post today. Looking at the 2nd loan I was due to pay over £400 in interest on the PPI alone, so if it did run its course, I'm hoping for a sizeable return. Here's to another 8 weeks of thumb twiddling and see what comes back.

 

I'm pretty sure HSBC are going to find something that shows rebates etc. If so, then maybe a letter to the IC after would be good as HSBC have already replied to a SAR that they had no information on anything that ended before 2005. They did supply me with a PPI Policy number for a Flexi Loan, but had no detail on what was paid etc, and a SAR gave me no information on the Flexi loan itself.

[ims21]

OK good stuff.

 

See how it pans out.

[joncow75]

HSBC offered a full refund of all payments plus 8% interest up to last week. I had no proof of what I had paid, only what i would have based on the credit agreements. HSBC paid every single penny that was on the documentation, so must not have had a rebate if loans were paid off early. I'm thrilled as I can pay a loan off that has quite a few months to run on it, leaving me nearly £200 a month better off and will be able to have a holiday for the first time in years. Form has been signed and sent off, so just awaiting payment into my account. Once done i'll be sending a donation to the site, as it has been invaluable to me over the lst few years Many thanks to you all for your help

[citizenB]

Brilliant news.

 

Enjoy your well earned holiday

[joncow75]

Cheers CitizenB, yourself IMS and DX have been great encouragement to almost everyone who comes on this site. Paphos in July will be like heaven!!

[citizenB]

Sounds very nice indeed

[ims21]

Excellent result...congratulations

[AndyOrch]

Well done joncow.

 

Regards

 

Andy

[joncow75]

Thanks all