PPI Reclaiming discussion

sbritt · 24 October 2007 at 8:39PM

I'd really like to cancel my current PPL and change down to a cheaper one from another provider. I was worried thet I may not be able to because I did actually claim when I was made redundant. This didn't matter and my bank, HSBC said I could cancel, but they said the only way they could do it would be to close down my existing loan and open another one for the amount of my current outstanding balance, without the PPL. This sounded ok until they then quoted my new monthly repayments to be £20 more than what I'm paying at the moment, due to the increased interest rate for the same loan.
Can this be true? Is it really the only way to loose the PPL or are they not telling me the whole truth?

Please can somebody help

millwallpaul · 24 October 2007 at 10:07PM

I have had a similar letter saying that because my policy was taken out in 2000 they were not regulated then so have done nothing wrong. This was not my understanding after reading Martin's thread on this but if someone knows different can they inform me, as I don't know what is the best route to take next.

Cheers
Paul

TwinsMum_2 · 24 October 2007 at 10:27PM

KAYBELLE wrote: »

Well it has taken 5 months and plenty of letters going back and forth but finally after involving the financial ombudsman I have had a cheque today for £11,610.53p off Firstplus for a mis-sold ppi!!!!!!!!
Thanks to Martin and all who advised from my other posts. My advice - keep at 'em and lets all get our money back ! :j :j :j :j :j :j :j :j :j :j :j :j :j :j :j

Kaybelle very well done, I will keep at them even though they seem to be avoiding me, I don't think I will get nearly as much as you but anything is better than nothing.

m.colak · 24 October 2007 at 11:38PM

On the 10th September 2007 i sent the letter template to halifax card services requesting repayment of my PPI due to the fact i was in the forces and had 1. my own payment plan as i explained at the time of the application and 2. felt abliged to take the PPI as it was the only way of getting the credit card.

I received a letter from the halifax on the 12th of september aknowlegding my claim and was told that they were investigating. I then received a letter on the 2nd October stating that they still investigating however i should receive a reply no later than the 2nd of november.

Thinking that again i had given them enough time i phoned them today quoting the reference and, surprise!!!:mad: , they informed me that they had yet to look at my claim and it was still in the work pile. The only thing keeping me warm at this moment is knowing that if i don't receive anything by the 7th November i can go through the FSA to attempt to retrive the monies owed.

I think i'm in a strong position due to:
1. I informed them i didn't require it in the first place.
2. The stopped charging me it about a year ago. Surely this means that as they have deemed that i don't require the PPI i should be intitled to a complete refund plus any interest owing.

Just interested to see if anyone else is in this current position.

Matt

neil_vtecclubman · 25 October 2007 at 8:37AM

Hi
Can anyone help ?
I have PPI with my mortgage and credit cards.

I was sold the PPI on the mortgage as a safety net if any thing happened to me or my wife, it would cover my payments for 12 months, and this covered unemployment or sickness. To claim I had to be out of work or for one month.

In April 2005 I was unfairly dismissed from my job I thought I did not have to worry as I had cover on my mortgage and credit cards.
Wrong big time!!
We do not cover if you have been sacked from your job
I was not sacked I was I was unfairly dismissed
We do not cover this we still want are money

The stress was enormous I had to take my former employer to court try and find a new job, and try and pay all my bills on £56.00 per week.

10 months passed and I won my case against my former employer for unfair dismissal.

The credit cards I had back dated the payment but refused to reinstate my credit history so I know have a very bad credit file.
The mortgage company and one credit card (both the same company) took a further 4 months to pay and refused to reinstate my credit history.
Can I do anything about having the mortgage protection insurance miss sold to me as “unemployment or sickness cover”
I was never told it only covers redundancy as unemployment

BMT76 · 25 October 2007 at 1:26PM

Hi
I am hoping someone can point me in the right direction.

Early in 2006 my wife an I took out a secured loan on our home for £30000 with Paragon personal finance.

At the time we were told we couldnt have it without the PPI which came in at £10000 on top the loan.

We repaid the loan late 2006 in full including the ppi and the final payment was £39345.99.

Can I claim for the £10000 ppi back in full? What would you suggest I cite as the reason?

Cheers in advance

baron777red · 25 October 2007 at 1:59PM

hi frugaljo

i was thinking of going down the route of putting a complaint into the ombudsman first before going to court, but i think you have to wait 8 weeks before you can do this

but theyre not getting away with it

im also trying to get back PPI on my partners lloyds tsb creidt card, which is goign back a few years

good luck

nikk1776 · 25 October 2007 at 2:17PM

MSE_Wendy wrote: »

This thread is specifically for discussing the content of the

PPI Reclaiming article.

To discuss or ask a question about this article: click post reply
Report and read success stories in this thread

NOTE FROM MARTIN:

Hi Folks

Many of you are asking "can I reclaim questions" below. Let me give a generic answer.

At the article is new for the site this means that unlike Bank Charges reclaiming they're aren't many experienced reclaimers on hand to help yet (hopefully that'll change soon when people who have been through the process come back to help others).

Go through the article in detail for the main categories of misselling. Yet in a nutshell if you have an inappropriate PPI product and weren't told it was inappropriate; or if you have a PPI policy without being told; then it's likely you have a mis-selling case.

How to know if you've a misselling case?

Well hopefully the article explains it; but if you're not sure, and you think you're hard done by, send your provider the template letter. It's as simple as that, just go for it. There's no cost for doing this. If 'reclaiming' is a scary concept, just think of it as a 'complaint letter asking for your money back'.

Therefore ask yourself the question, "have i been treated reasonably and given reasonable information?" If you think you have - don't try. If you don't think you've been treated reasonably, then start the reclaim.

Best of luck

Martin

hi citi have lost my documents for the loan and insurance policy how do i stand.

cheers nick.x

kpwll · 25 October 2007 at 2:23PM

Can anyone give me an idea of when banks/credit card suppliers started recording telephone calls regarding queries about applications.
Good luck to everyone who is trying to claim their PPI.

prutter · 25 October 2007 at 3:34PM

BMT76 wrote: »

Hi

At the time we were told we couldnt have it without the PPI which came in at £10000 on top the loan.

I think this is your reason!?

Follow Martins guide, send the letters and good luck

PPI Reclaiming discussion

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