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I have had several loans from HSBC over many years. I started with one loan, got into financial difficulty, was offered refinance after a period, took out another loan and so it went on until my final loan, taken out in 2005 was huge and it has taken me 8 years to pay off which I did last week.

 

(Hallelujah!)

 

All of these loans with the exception of the last, had PPI and I clearly remember being told in meetings at the bank that I had to have PPI in order to take out each one. For the final loan in 2005 I had been advised by a colleague that my employment covered me for sickness and long term illness and had done so since the 1990s – but the bank insisted on proof of this and I still have a copy of the document that was sent from my work to show to the bank for this purpose.

 

I have kept some some bank statements regarding one of the earler loans from 2001, one of which shows that the loan protection was taken out in one big lump. There was also a loan prior to this for which I have no paperwork but do have the account number.

 

I also have copies of the further loan agreements after this and most of my bank statements to date. (How sad is that? I am a terrible hoarder!)I understand that banks only keep paperwork for six years and I have most of it for that period and some from much earlier but it is not complete.

 

Do I still need to send the bank a SAR before I start to make a claim? I have a picture in my mind of the postman breaking his back carrying all the paperwork!Finally, I also have an HSBC credit card which has had PPI on it for years - should this be a separate claim to a different address?

 

Some help for this would really be appreciated! I have spent my life being scared of the bank in case they 'pulled the plug' and now that I've paid off my loan I'm all guns blazing!

Edited by citizenB
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You only need to send a Subject Access Request if you require any paperwork - as it would appear you have your statements and other paperwork showing the application of PPI and the letter proving that you actually didnt need PPI by way of proper cover from your company etc.. then I would say you dont need to invest the £10.00.

 

However, do make absolutely certain there is nothing you need before embarking on your claim.

 

You will need to do submit 2 claims - one for the loans and one for the Credit card - they would most likely be sent to the same place.. but they are different spread sheets.

 

I will flag for the PPI experts so they can advise further.


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hi ya

 

popping in as asked

 

i'd get that SAR off and back

 

if you have a look at '0' brlow

 

it details the process of working out refinanced loans

 

looks like you are in for a windfall

 

the process is the same for loans & CC's

 

but you just use a diff spreadsheet.

 

there is nothing to sitop you

doing the prep work

 

you'll need one of these for the PPI claim:

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

 

dx


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Thanks so much for the replies! SAR letters on their way to HSBC Gold Card, Capital One and M&S. I am also sending the Claim Form to HSBC regarding my loans, together with loads of copies of statements, agreements etc. I decided that I have most of the relevant paperwork. I'll update as soon as I hear anything. This site has been such a help and I'm so glad that I found it! It's hard for someone like me to proceed without help from the likes of you lot!!!!x

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