Reclaim Mis Sold PPI Against HSBC
With the clock ticking quickly down to PPI deadline day, it’s so important to ask a few questions if you feel you might have had any PPI policies in the past from HSBC. This famous name in world banking was one of the most active in the UK during the lending boom, providing mortgages, loans and credit cards to a huge number of people, often with PPI attached.
It’s estimated that the HSBC group as a whole sold well in excess of 5 million policies, and as was the case with so many other credit providers these policies were often of little or no use to the unsuspecting customer. The banks and building societies became increasingly aggressive when selling PPI during that period, and HSBC were no exception.
It may be that you had credit in some form from HSBC without even realising they were the company behind the product. As well as the bank itself, the group also operated via HFC, First Direct, Beneficial Bank, Household Bank and Marbles credit cards and loans. If any of these names sound familiar, you should get in touch with our friendly team today on 0800 193 1234.
The reason for such aggressive selling was an obvious one; sales teams were offered tempting incentives to sell on PPI policies with every type of credit agreement, so it was all too easy to just say yes before signing on the dotted line. The profits for the financial sector were huge, helped by the fact that very little was needed in the way of expensive staff training courses.
Until the lending boom came to a somewhat abrupt end, HSBC and the rest of them enjoyed substantial rewards for a product that offered very little in the way of protection for the general public. The PPI scandal – and it really was a scandal – is now rightly seen as a feeding frenzy that brought out the worst in many people and companies. No wonder so many once-trusting consumers are now seeking compensation for the money they inadvertently wasted.