PPI Reclaiming discussion Part III

maxdp

Hi

No they usually leave it to the last moment. If they have not replied by Friday send them another letter recorded delivery and give them another two weeks. Warn them that if you have not heard back you will take them straight to the Financial Ombudsman Service

hayjamdan

maxdp wrote: »

Hi

No they usually leave it to the last moment. If they have not replied by Friday send them another letter recorded delivery and give them another two weeks. Warn them that if you have not heard back you will take them straight to the Financial Ombudsman Service

thanks max will do

hayjamdan

and if the do send me a final response not uphelding my claim i go straight to fos right

maxdp

hayjamdan wrote: »

and if the do send me a final response not uphelding my claim i go straight to fos right

You got it:D Fill in the complaint form that you download from the FOS send it to the FOS recorded delivery. Some people ring the FOS beforehand to get a complaint reference No then you can put it onto the FOS form when you send it in.

ms_fe_mongoose

Wow, it's amazing to see so many people going through the same thing I am - I'm so glad I came to this forum today. I'm having a nightmare with a loan company that I've discovered are a bag'o'pants. I'm trying to fight two fights with them at the moment, one for insurance mis-selling and one for over-charging me, but now I'm not sure if I'm working things out right. Can anyone advise me , when you take out PPI and they say it is a certain amount every month, when you cancel it does your repayment go down by that amount every month?

And second question - because my head's just whirring right now - if they add the PPI to the loan as a capital sum at the start of the loan, how do I work out how much should I be claiming/. Will it be

(full PPI amount x time) + interest at laon rate up until now and then that amount + 8% ?

Thanks very much!

hayjamdan

maxdp wrote: »

You got it:D Fill in the complaint form that you download from the FOS send it to the FOS recorded delivery. Some people ring the FOS beforehand to get a complaint reference No then you can put it onto the FOS form when you send it in.

thanks maxdp

maxdp

ms_fe_mongoose wrote: »

Wow, it's amazing to see so many people going through the same thing I am - I'm so glad I came to this forum today. I'm having a nightmare with a loan company that I've discovered are a bag'o'pants. I'm trying to fight two fights with them at the moment, one for insurance mis-selling and one for over-charging me, but now I'm not sure if I'm working things out right. Can anyone advise me , when you take out PPI and they say it is a certain amount every month, when you cancel it does your repayment go down by that amount every month?

And second question - because my head's just whirring right now - if they add the PPI to the loan as a capital sum at the start of the loan, how do I work out how much should I be claiming/. Will it be

(full PPI amount x time) + interest at laon rate up until now and then that amount + 8% ?

Thanks very much!

Hi There if you cancel the PPI on the loan it will not go down by the same amount. They are usually front loaded and the most premiums will be charged at the beginning of the loan cause the risks would be higher that you would claim within that time. Whereas if the PPI only had say 3 months to run the risks would be lower of you claiming.

It would all depend how far you are into the loan etc. TURBO is a wizz at working out these figures. If you want you can post figures up here and I am sure he will see them and help you;)

Do you feel the PPI was miss sold to your if so how do you think. If you go to the red tab at top of page CLAIM BACK 1000 then look through the info there you will get lots of advice.

If you need anything further let us know and I am sure somebody will try and help you.,

bathgatebuyer

pinknico wrote: »

I got it confirmed by the FOS that they will not look into the fact that a company has no credit agreement for an account, or whether a agreement is enforceable or not, they say this is up to the courts. They (FOS) also didnt believe that companys default you without an agreement and because you have asked for an agreement they dont have ,even if you are still paying it. The FOS apologised a lot to me when they rang the company and the company admitted they had done this and removed the default pronto.

Cheers for that. I got a letter today from the FOS saying that they have split my laim against Sainsburys into two parts - the PPI issue and the CCA issue with two different specialists dealing with it. I've heard on a few forums that the FOS don't look at the CCA matter as they believe it to be a legal dispute and it would be for the courts to decide. So, I think I'm not going to find any favour with the Adjudicator in that regard!

In terms of the PPI case, I have today sent them a copy of my GPs letter confirming that at the time the PPI was taken out (and over a period of 9 years), I've had on / off battles against depression and general anxiety disorder. This is an excluded condition under their policy.

Who know where this is going to go, but at least I can see that the wheels are in motion now.

ms_fe_mongoose

Thanks maxdp - I've been following the template letters carefully for my claim! Basically, I was charged 562.50 PPI on a 36 month loan of 1500.00. It's coming up to the end of my loan now, and it looks like amongst other things they're charging me £1000 more than I agreed to pay - but that's another issue and another seris of angry letters from me :mad:.

When I took the loan I was told that I would be more likley to be accepted if I took PPI, and they told me it would cover me for sickness - not mentioning that if I fell ill with an existing condition I would be excluded - in fact, I saw nothing about exclusions until I had all signed up. Typical, really. They're ignoring me - also typical - so it's going to the FOS tomorrow. I just wanted to make sure they had'nt overcharged me on the account because of the PPI. Hopefully I'll have some good news soon enough - this loan company is so bad it's like going up against Al Capone in a court of law. They're such pantomine baddies. :rolleyes:

pandy12

Hello
I hope this is in the right section now- apologies if I have posted it in the wrong place if I have please advise where I post it now. thanks
In May 2006 I took out a loan with my bank the Co-op for 6K and asked them not to include the PPI (payment protection insurance), they sent me some paperwork without the PPI included, however by the time I got round to sending the paperwork back was after a month so they told me that they would need to send me some fresh paperwork and resent it with PPI included. Around this time I found out that I was more than likely going to be made redundant after a years contract, I was working for a charity at the time and were not able to get further funding to continue some of the posts , so just signed the paperwork and sent it back( with PPI included).

When I was made redundant 4 months later I choose not to sign on as my situation is a bit complicated, my partner has his own business and his income constantly fluctuates and I have a lodger that I get £270 a month from. I was out of work for 6 months and when i did ring the Co-op up to check with them whether I could claim they asked me if I was in receipt of any other benefits to which I said no.
I did say to them at this stage how I wish I had asked for the PPI to be removed again. Four months later, after finding work i rang the bank about increasing my loan, they said they would think about it but that if they did it wouldn't include PPI. My partner now feels that I have been mis sold PPI twice and this is the second loan in 5 years that I have paid it on. I paid off another loan 12K in 2 years and 2K of that was PPI of which I thought at the time you had to have as part of the loan (this loan was from Dec 04- Dec 06) and I never tried to claim on it.
Any advice on whether I have a case to reclaim would be useful.
Many thanks for reading this.
Best wishes
Pandy