PPI Reclaiming discussion Part III

di3004

tafstar71 wrote: »

Hi, I'm new to all this, and am hoping someone can help me!! Contacted loans.co.uk about an ongoing ppi claim, and asked, if my claim is upheld, how would the monies be refunded. The reply was that the premium itself (£8100) would be credited to the loan, and interest on premiums already paid would be a cheque to myself. Can they do this, because I will still be paying interest on that £8100, I have spoken to the actual loan company, and they have said that the £8100 being refunded wouldn't bring my monthly repayment down

Hi there
Write to them and tell them you want your money refunded directly to you...if this is the way you want it.

I take it you have a choice here, as long as your not in arrears, and also ask them to send you the full calculations on how they done this, this should confirm what is what with the PPI etc and I would have thought the payments would reduce.

Yes write to them and also see what other posters advice here as well hun, great news they have resolved your claim though:T , well done and please keep a check on the posts here to see what others say, good luck.

davemchol

hi mentioned About an SAR request containing the telephone conversatinons. Just rang Halifax and they have said they only keep a record of them for 6 months, is this true or are they just spinning me a line?

di3004

davemchol wrote: »

hi mentioned About an SAR request containing the telephone conversatinons. Just rang Halifax and they have said they only keep a record of them for 6 months, is this true or are they just spinning me a line?

Hi Dave
I think companies may vary but I would contact the ICO (information commissioners office) who may be able to confirm this.
ICO contacts here:
https://www.ico.gov.uk/Global/contact_us.aspx

I assume this is regarding a sale of a loan/PPI?
What year did you take this out.

My loans earlier than 2005 I was not provided with any recordings but afterwards with loans sold over the phone we were provided with them.

Hope you get some luck here, please let us know how you get on, cheers.;)

tafstar71

di3004 wrote: »

Hi there
Write to them and tell them you want your money refunded directly to you...if this is the way you want it.

I take it you have a choice here, as long as your not in arrears, and also ask them to send you the full calculations on how they done this, this should confirm what is what with the PPI etc and I would have thought the payments would reduce.

Yes write to them and also see what other posters advice here as well hun, great news they have resolved your claim though:T , well done and please keep a check on the posts here to see what others say, good luck.

Thanks for that, we are in arrears by 2/3 months, and i have no problem whatsoever with the arrears being deducted first, then having the rest sent by cheque. Thing is, there seems no real benefit from it being put back onto the loan, could really use the cheque for £8k!! Just didn't know if i had the right to request a cheque for the full amount,as the loan is still running!:A

tafstar71

Also, I though it really odd that my monthly payment wouldn't come down at all, though the term of the loan would reduce by 2 yrs

di3004

For anyone who wants to know about how to deal with the complaints - regarding the Financial Ombudsman Service, you will also find these details on their website of

www.financial-ombudsman.org.uk

email at

[EMAIL="complaint.info@financial-ombudsman.org.uk"]complaint.info@financial-ombudsman.org.uk[/EMAIL]

HOW DOES THE FINANCIAL OMBUDSMAN SERVICE HELP?

Aim to settle disputes as fairly and as quickly as they can.

There are always 2 sides to any dispute, they look carefully at both sides of the story and weigh up all the facts.

They may think the business you are complaining about has treated you fairly, if this is the case you are then informed of this.

They may decide the business has acted wrongly and you've lost out as a result.
If this is the case they can order the business to put things right for you, their aim is to put you in the postion you'd be in if things hadn't gone wrong.

STEPS OF COMPLAINING

Try to sort out the problem with the business first - directly through their business by using their complaint procedures.
They have a chance to look and investigate your complaint before taking this to the Financial Ombudsman Service.

If your having any difficulties contacting the business or unsure of anything, let the Financial Ombudsman service know, where they will explain on what you should do next here: 0845 080 1800

WHEN THE OMBUDSMAN CAN BECOME INVOLVED

The Financial Ombudsman service can get involved and start looking at your complaint if:

The business has sent you a letter with its "final response" to your complaint, and if you're still unhappy or;

the business has had 8 weeks already but has not sent you a response/final response.

You register your complaint giving some details and you can tell them by ringing 0845 080 1800, they will then need you to fill in a complaint form that give the FOS personal details and information about your complaint, including what you would like the business to do to put matter right.

You can also print a form from the website:
www financial-ombudsman-service.org.uk

When you call them, they may be able to fill in some of the information for you over the telephone.
They will require brief details of your complaint and any relevant account or policy numbers.

WHAT HAPPENS NEXT

If your complaint is one they can deal with, they will usually start by seeing if they can help you and the business sort things out.

They will........

Look at your side of your story.

Contact the business to get their side of the story.

Weigh up the facts and
tell you and the business what they think.

For further information check out on the website, but here are some examples of what the FOS can look at.....

Banking

Insurance

Mortgages

Pensions

Savings and Investments

Credit Cards and Store Cards

Loans and Credit

Hire purchase and pawnbroking

Finanical Advice

Stocks, shares, unit trusts and bonds.

di3004

tafstar71 wrote: »

Also, I though it really odd that my monthly payment wouldn't come down at all, though the term of the loan would reduce by 2 yrs

Hi hun
I would definately double check on this, I am hoping someone else will post up who has been in the same postion as yourself.

I would also check this out over at the success thread next to this one and maybe add a post yourself and see what they say and suggest there.;)

I wish you luck with this and I thought your payments would also reduce automatically if this is to aim to put you back in the postion of not having PPI from the start of the loan.

Hope you get more answers to this here.:A

Di;)

booi666

Good evening all:A

di3004

booi666 wrote: »

Good evening all:A

oh Boo you scared me to death then ......:eek: lol, how's you?
Any news on your PPI stuff yet hun?

booi666

di3004 wrote: »

oh Boo you scared me to death then ......:eek: lol, how's you?
Any news on your PPI stuff yet hun?

I rang the post office and they said it can take up to 15 working days to get delivered:eek:

Even though i did 1st class recorded bleeding wan-ers:mad: