PPI Reclaiming discussion Part III

dummer1701

Hi guys i am new to this forum but not new to the site as it successfully allowed me to claim back £3300 pound from HSBC earlier this year! But now i have a problem and i need you guys advice. I have a loan in my name with Welcome Finance (i know dont say it) the money was given to my sister to get her out of some financial difficulty about 2 years ago. There was PPI taken out on the loan (which is currently with the Financial Ombudsman as they will not allow claim back) but about 2 weeks ago we finally had the letter that they were going to cancel the PPI policy and give us a rebate on the outsatnding insurance. We have 11 months of the loan term left and pay aprox £35 per month for the PPI (this was calculated in with the loan) but to my surprise they only gave us a rebate of £53? Where i would be expecting the rebate to be quite higher than that after having almost 1 year left to pay. I have spoken to their head office and they say that this is because they stack the PPI to the first part of the loan and not the backend but i can not understand now how they can spread the whole PPI over the term of the loan but stack it to the front? Any advice would be fantastic!!!
Gareth

di3004

dummer1701 wrote: »

Hi guys i am new to this forum but not new to the site as it successfully allowed me to claim back £3300 pound from HSBC earlier this year! But now i have a problem and i need you guys advice. I have a loan in my name with Welcome Finance (i know dont say it) the money was given to my sister to get her out of some financial difficulty about 2 years ago. There was PPI taken out on the loan (which is currently with the Financial Ombudsman as they will not allow claim back) but about 2 weeks ago we finally had the letter that they were going to cancel the PPI policy and give us a rebate on the outsatnding insurance. We have 11 months of the loan term left and pay aprox £35 per month for the PPI (this was calculated in with the loan) but to my surprise they only gave us a rebate of £53? Where i would be expecting the rebate to be quite higher than that after having almost 1 year left to pay. I have spoken to their head office and they say that this is because they stack the PPI to the first part of the loan and not the backend but i can not understand now how they can spread the whole PPI over the term of the loan but stack it to the front? Any advice would be fantastic!!!
Gareth

Hi Gareth
I did also leave a post on here for you yesterday, but in case you have missed it, I think the £53 is pathetic !

If you were mis sold and they agreed to this they should put you back in the position as if you did not have the PPI in the first place.

I would tell the ombudsman your certainly not happy with the rebate they offered and feel they will agree anyway, because if you have a case in with the FOS its best let them know the update on this, they will then continue with your complaint.

What they have done then is just cancel reduced the repayments and given you a very small amount back but not put this right as if it were mis sold.

Ask them also to send you a written breakdown of calculations, they should provide you with these on request, just to find out what is what and how this was calculated.

Keep your complaint going with the FOS.

I am sure others will have their say here too hun.

Good luck.
Di

nembot

Hello Di,

This claim was raised in August this year, just a few calm chase calls after the 40 days for final response elapsed (didn't need to go to the onbudsman). Did quite a bit of reading up on this thread before actually contacting the complaint's department, as I suspected they would try to pull the wool over my eyes.

If I felt the agent was not helping, I calmy asked to speak to their manager or the person directly dealing with the complaint - taking names and ext numbers wherever possible, so you do get a callback.

Really thought this would be the hardest of the three claims i've submitted to get upheld, so happy!

Special thanks to you as well Di, you deserve a medal for all the hard work!

:T :T :T

dreamer33

Morning everyone

Just to let you know got my letter today and a ppi questionnaire to complete and return.

stvgrsty

HAPPY DAYS AFTER NEARLY 12 MONTHS! FOS finally find in my favour! £3800 PPI, loan for £25K over 25 Years settled after 22 months so cracking up doing sums!

Steve

marshallka

dreamer33 wrote: »

Morning everyone

Just to let you know got my letter today and a ppi questionnaire to complete and return.

From Freedom???

dreamer33

marshallka wrote: »

From Freedom???

Yip, just completing questionnaire now as only have 7 days to return it or they will close complaint :eek: gonna send it back recorded aswell.

di3004

nembot wrote: »

Hello Di,

This claim was raised in August this year, just a few calm chase calls after the 40 days for final response elapsed (didn't need to go to the onbudsman). Did quite a bit of reading up on this thread before actually contacting the complaint's department, as I suspected they would try to pull the wool over my eyes.

If I felt the agent was not helping, I calmy asked to speak to their manager or the person directly dealing with the complaint - taking names and ext numbers wherever possible, so you do get a callback.

Really thought this would be the hardest of the three claims i've submitted to get upheld, so happy!

Special thanks to you as well Di, you deserve a medal for all the hard work!

:T :T :T

Thank you nembot.:A .

I am so happy this one resolved quite quickly without the need of going to the FOS, this is fantastic.:T

Good luck with the others hun, "onwards and upwards":beer: , you know where we are - anytime.:j xx

di3004

dreamer33 wrote: »

Morning everyone

Just to let you know got my letter today and a ppi questionnaire to complete and return.

Hi dreamer, hope your feeling better today.;)
I'm feeling rather low today but I only managed 2 hours sleep last night, so may grab an hour after - depending if Daniel goes his aunts farm or not.

They all seem to be sending these questionaires now don't they?:rolleyes:

I think its a stalling tactic myself, as they know the problem and they already have everything on their data.......:mad: , good luck anyway hunni.;) xx

dreamer33

di3004 wrote: »

Hi dreamer, hope your feeling better today.;)
I'm feeling rather low today but I only managed 2 hours sleep last night, so may grab an hour after - depending if Daniel goes his aunts farm or not.

They all seem to be sending these questionaires now don't they?:rolleyes:

I think its a stalling tactic myself, as they know the problem and they already have everything on their data.......:mad: , good luck anyway hunni.;) xx

I'm sorry you feeling low today Di, I think this whole process takes it toll on us all and life in general.

Keep talking it really helps, just ask I will help you also. xx