PPI Reclaiming discussion Part III

dreamer33

tannedsam2008 wrote: »

Hi Guys

I was wondering where to start with all this.....

When I was a student (2004) I got a professional studies loan from HSBC and a personal loan from HFC both about 6k each. I was told by both of them that insurance was needed since I was a student.

A few years later i had some financial problems, and both loans have been transferred to DCAs. I am on a debt management plan paying them off.......

I do not have the original loan docs, so would it be possible to get them sent out to me? Should I contact the original lender or the DCA? Anyone else in a similar situation ie. being on a DMP and trying to reclaim????

Many thanks

Sam

You can request all the info from the original lender, SAR cost £10.
They have to give you everything there is a templete letter on here for SAR request.

Don't see why you should have any problems because you're on a debt management plan. However, If you claimed off the ppi then you can't reclaim it back. No bank should tell you you need ppi its optional, however there are many banks and lenders not telling people this.

Hope this helps, good luck

di3004

tannedsam2008 wrote: »

Hi Guys

I was wondering where to start with all this.....

When I was a student (2004) I got a professional studies loan from HSBC and a personal loan from HFC both about 6k each. I was told by both of them that insurance was needed since I was a student.

A few years later i had some financial problems, and both loans have been transferred to DCAs. I am on a debt management plan paying them off.......

I do not have the original loan docs, so would it be possible to get them sent out to me? Should I contact the original lender or the DCA? Anyone else in a similar situation ie. being on a DMP and trying to reclaim????

Many thanks

Sam

Hi Sam
I am not certain on how this actually works if your loans have been transferred to DCA's, maybe someone else could advise in this case, but I would in case contact the company and request for copies of the agreements, they may supply these to you free of charge of may charge about a £1 each for these.

As soon as you have done this we can see what is what, but with a bit of luck someone will advise on the DCA side of things.

Please keep posting in order for us to help you, cheers.;)

Di

di3004

dreamer33 wrote: »

You can request all the info from the original lender, SAR cost £10.
They have to give you everything there is a templete letter on here for SAR request.

Don't see why you should have any problems because you're on a debt management plan. However, If you claimed off the ppi then you can't reclaim it back.

Hope this helps, good luck

Lol, oops sorry Dreamer you best me to it.......:o , lol, yes of course with a SAR they should supply everything they have, I have added a template for this I think the page before this or maybe a page before that.;)

dreamer33

di3004 wrote: »

Lol, oops sorry Dreamer you best me to it.......:o , lol, yes of course with a SAR they should supply everything they have, I have added a template for this I think the page before this or maybe a page before that.;)

Lol we posted at the same time hee hee

di3004

dreamer33 wrote: »

Lol we posted at the same time hee hee

lol, you must have beaten me by seconds though pmsl.......:rotfl: :rotfl:

maxdp

marshallka wrote: »

What swines... in the words of Russel Brand!!!

Tee Hee.:rotfl:

dreamer33

tannedsam2008 wrote: »

Hi Guys

I was wondering where to start with all this.....

When I was a student (2004) I got a professional studies loan from HSBC and a personal loan from HFC both about 6k each. I was told by both of them that insurance was needed since I was a student.

A few years later i had some financial problems, and both loans have been transferred to DCAs. I am on a debt management plan paying them off.......

I do not have the original loan docs, so would it be possible to get them sent out to me? Should I contact the original lender or the DCA? Anyone else in a similar situation ie. being on a DMP and trying to reclaim????

Many thanks

Sam

If you have a look at this link you will see HFC have already been fined for ppi mis-selling:

http://news.bbc.co.uk/1/hi/business/7191506.stm

In my opinion the fact that you are on a dmp should not make any difference, its the fact the ppi was mis-sold.

marshallka

maxdp wrote: »

Tee Hee.:rotfl:

How are yous maxdp... pm you back later. Just flying between here and mortgages for now till my darlling daughter returns and then its all hands on deck. She is dancing in a show every night this week starting tomorrow and twice saturday. Be a really busy time for her... she loves it though. Been going since she was 5 about.. Shes good too and at gymnastics..

maxdp

LazyT wrote: »

Hi Di and Maxdp

I am about to start drafting my second stage letter to LLoydsTSB, and am going to include more information than the standard would include to try to aid my cause. As mentioned before, there are crosses and ticks all over my original contract that was only ever faxed to me, and signed by LloydsTSB's contact 4 days after my signature.

Just wanted to thank you both for your input, feel like a bit of a div working through all this!

Max, you mentioned to request SAR and telephone conversation etc, but I don't even know what one of those is! (i know it's nothing to with mobile phones frying your brain.....) Are they likely to have these??

Do you think I would be able to make reference to the fact that the money was in my account before they had even signed and entered into the contract? Or am i just clutching at straws?! I still don't believe this was discussed with me in numerous phone conversations with the contact from LTSB, who was only an advisor at my home branch as opposed to someone from the loans centre. All these little things make me think I've been had!

When you say it was font loaded, do you by it being single premium?

Thank you both again for your help - didn't know where else to go!

By the way, how quickly does this thread move! Went on at 8am yesterday and then lunchtime today and we're almost 15 pages away!

Cheers

Terry :beer:

edited to add, I was young and desperate at the time, and they bent over backwards to lend me 10k, saying that they should have only lent me around 1k because fo my credit rating, I only wanted to borrow 5 or so but they said the only way I could have my loan was if I took out 10k and paid off my credit card and overdraft......

forgot to put this the other day! What you think?

Hi Terry SAR is Subject Access Request, where they send you copies of all documentation. Di has posted full letter from Laini on here that you will be able to use.

Yes did mean single premium which is then added to the loan and you pay this off first. Bless them. Good Luck and am sure Di or somebody else has answered rest of your questions. Am running late here and trying to cat:rotfl:ch up.

marshallka

dreamer33 wrote: »

If you have a look at this link you will see HFC have already been fined for ppi mis-selling:

http://news.bbc.co.uk/1/hi/business/7191506.stm

In my opinion the fact that you are on a dmp should not make any difference, its the fact the ppi was mis-sold.

Tiggrae always said if you were on DMP then you could still reclaim..

think she has left us now...