HSBC PPI Offer

[HS2010]

So after 7 weeks and 2 days of sending off the letter and FOS form I received a PPI offer from HSBC against my graduate loans from 1999-2005.

 

They have calculated a PPI Premium Redress against the 4 loans I chased and oddly enough a redress against the 5th loan which didn't have PPI (HSBC Graduate loan with Protection) and I didn't mention.

 

I think because each loan consolidated the last somehow the PPI became part of the 5th and final loan. (?)

 

Each premium redress has taxable interest added at 8% and the grand total of it all comes to £2,828.

 

I don't have any of the details of the loans anymore (I was given the PPI plan no.'s by HSBC over the phone) so I don't know whether this is the correct amount or how much PPI I was paying each month.

 

1. I know it is hard to say but does this sound ballpark like the correct figure? Each of the loans was less than £4000. (I realise this is probably completely unanswerable!)

 

2. Finally should I just accept the first offer? I am quite happy with it but....I hate to let banks get away with anything

 

Any advice greatly appreciated,

 

HS

[ims21]

So after 7 weeks and 2 days of sending off the letter and FOS form I received a PPI offer from HSBC against my graduate loans from 1999-2005.

 

They have calculated a PPI Premium Redress against the 4 loans I chased and oddly enough a redress against the 5th loan which didn't have PPI (HSBC Graduate loan with Protection) and I didn't mention.

 

I think because each loan consolidated the last somehow the PPI became part of the 5th and final loan. (?)

 

Each premium redress has taxable interest added at 8% and the grand total of it all comes to £2,828.

 

I don't have any of the details of the loans anymore (I was given the PPI plan no.'s by HSBC over the phone) so I don't know whether this is the correct amount or how much PPI I was paying each month.

 

1. I know it is hard to say but does this sound ballpark like the correct figure? Each of the loans was less than £4000. (I realise this is probably completely unanswerable!)

 

Unfortunately yes it is

 

2. Finally should I just accept the first offer? I am quite happy with it but....I hate to let banks get away with anything

 

Get them to let you have the detailed breakdown of how the figures are calculated....and I mean Detailed

 

Any advice greatly appreciated,

 

HS

 

ims

[luce76]

Hi HS,

 

I had 2 HSBC graduate loans from 1999-2005 (we must be a similar age!) and I paid PPI for a couple of years (I then cancelled it when I couldn't afford it). Unfortunately I've kept none of the paperwork. I've just bought a £2 Equifax credit report but discovered that only goes back 6 years. I've also called HSBC and they've said they only keep records for 6 years. I see from your post that you claimed in 2012 and you didn't have any paperwork. How did you get HSBC to give you the details of your loans given they were paid off over 6 years ago? I called their 0845 number. Did you go into a branch instead? I'd appreciate any advice you have!

 

Many thanks!

 

Lucy

[HS2010]

Hi Lucy

 

That sounds like nonsense. I had no paperwork and they had all the numbers from around 2000 (well over 6 years).

 

I did go through to the HSBC Plus Account call centre and spoke to a Scottish guy and not the Indian branch. (I've got the plus account as I work abroad and it saves on cash withdrawals.)

 

I rang them and asked "what address do I send a SAR request to?" I explained this was because I wanted the no.'s so I could claim my PPI back.

 

He then gave them all to me over the phone. Whether mentioning the SAR triggers some change of response on their part (just speculation and I very much doubt it)?

 

So I'd just get back on the phone, kick off and keep pestering them I think sometimes you have to play "Call centre employee roulette".

 

Cheers

 

HS

[luce76]

Hi HS,

 

Thank you so much for your advice, I really appreciate it! I'd pretty much decided to give up last night, but your message has given me the confidence to call back and play some call centre employee roulette !

 

I might also try going into my local HSBC branch, as it may be harder for them to fob me off face to face! I'll also look into the SAR request.

 

I really appreciate your help and for getting back to me so quickly, thank you!

 

Lucy