Urgent help required! Ppi claim hsbc

[nata5ha]

Hi guys

I took a credit card and loan out with hsbc in 2005, I have recieved a an offer of a redress for my Credit Card it was for amount of 850.00, breakdown 490 CRP 93 Premiums 293 Interest at 8% apr.... My claim was complicated as I went through a number of changes i had loan & CC off them and when I couldnt afford payments due to maternity leave they consolidated it and gave me 'managed loan' which at the time they didnt tell me would affect my credit rating i am hoping they offer me compensation and distress for the way in which they treated me through the financial difficulty i went through if/when they make an offer for the PPI on my loan.. Does this offer sound reasonable on a 2000 credit card limit or is there anywhere i can go to work it out??

PLEASE HELP Many thanks

[di30]

Re: Urgent help required! Ppi claim hsbc

Hi and welcome

Basically what they offer will depend on what you have paid of the ppi towards the credit card account.

If you've no details of the breakdown you can try asking for a thorough detailed breakdown, so you know exactly what you paid to date of the ppi.
I understand the way they work the interest differs from credit card to loan ppi.

I note you said about the credit card ppi, but have you also tried making a reclaim on the loan ppi?

Sorry if i have mis read this.

Below is the link to our Turbo and Bills, Calculations of ppi, so this may help until someone comes along to maybe explain this to you if still required.

http://www.legalbeagles.info/forums/...I-Calculations

When it comes to further redress for the distress and inconvenience caused, the banks do not always directly offer this, but if dealt with by the Financial ombudsman service (FOS) for example if they feel your case could have been upheld at first instance where it was not done, the fos can sometimes offer this. They ask the bank to pay this as well as the refund owed.


Hope this info helps, and please let me know if i have misunderstood.

[Bill-K]

Re: Urgent help required! Ppi claim hsbc

Hi Nata5ha and welcome to you. I think Di has just about summed it up. We have couple of spreadsheet/calculators you can use to check the figures with, but you will need to have a record of the PPI premiums, the repayments, and the monthly account balance in order get an accurate result. I've attached a copy here.

The loan uses a different spreadsheet, but it should be easier to work out. Also attached here.

[nata5ha]

Re: Urgent help required! Ppi claim hsbc

Hi guys, Thank you so much for this information.... It has really helped. I will contact my bank tomorrow and as for the required information so I am clearer. Dizzy Di, You are correct.. I am currently awaiting a response in relation to a loan I took out with them too, This claim is only for the Credit Card.

Many thanks and I will keep you updated.