PPI Reclaiming discussion Part III

di3004

marshallka wrote: »

Di, if tomorrow the deadline then ask tomorrow. I would but then again I am impatient.:o

Lol I think I will anyway........I am getting rather restless now......:o , cheers hun lol.......:D

sparky0107

Hi
Here is the iplayer link to last night panorama


http://www.bbc.co.uk/iplayer/episode..._Pay_Wont_Pay/

Shellbell

Hi all
Received my response from Co-op, they say they recommend customers safeguarding loans but PPI is optional and they offer it on that basis when discussing loan requirements (do not!!)

They have said they sent the agreement (I have it) setting out loan amount/PPI amount (front loaded btw) no idea what the actual monthly repayments were and was not told when taking loan, they say I received PPI certificate giving details of cover (they didn't).

They also say I had the right to cancel insurance at any point and would have received partial refund and based on their investigations they are satisfied that a full refund of PPI in not justified and that the cover provided by PPI is valuable and I have had the benefit of this cover since I took out loan and chose to include insurance.

Soooo whats my next step, send the 2nd template letter? I'm really tempted to call them and ask for a transcript of the conversation when I took out the loan, any advice most welcome
:-)

angelbearlina

Hi,

I am a serial lurker on these boards and I don't think I have posted anything before but I just had to after recieving a letter from the Alliance and Leicester this morning. My ex parttner and I took out a loan in 2002 with them and were told, like so many others that we had to take PPI to get the loan. We payed off the loan in 2007. When I read about the PPI reclaiming on MSE a couple of weeks ago I decided to try and reclaim. I phoned them and explained what had happened and they said (of course) that they had logged the call and would look into it. I then got my ex partner to do the same thing.

I have since then read a few things saying that it is more difficult to reclaim anything paid before 2005. So I didn't hold out much hope. But this morning I recieved a letter offering us £2455.88 as a refund. That's £1828.20 in premiums and £627.68 in interest at 8%. I am so pleased!

I have to sign a form saying I will not take any further action, which makes me wonder what i could get if I did. But to be honest I'm not going to take the risk. Even though I only get half of it (my ex gets the other half) it's money I desperately need right now.

I hope everyone elses reclaims are successful

maxdp

angelbearlina wrote: »

Hi,

I am a serial lurker on these boards and I don't think I have posted anything before but I just had to after recieving a letter from the Alliance and Leicester this morning. My ex parttner and I took out a loan in 2002 with them and were told, like so many others that we had to take PPI to get the loan. We payed off the loan in 2007. When I read about the PPI reclaiming on MSE a couple of weeks ago I decided to try and reclaim. I phoned them and explained what had happened and they said (of course) that they had logged the call and would look into it. I then got my ex partner to do the same thing.

I have since then read a few things saying that it is more difficult to reclaim anything paid before 2005. So I didn't hold out much hope. But this morning I recieved a letter offering us £2455.88 as a refund. That's £1828.20 in premiums and £627.68 in interest at 8%. I am so pleased!

I have to sign a form saying I will not take any further action, which makes me wonder what i could get if I did. But to be honest I'm not going to take the risk. Even though I only get half of it (my ex gets the other half) it's money I desperately need right now.

I hope everyone elses reclaims are successful

We done Angel. Think that is a standard letter from lenders, was it a good will gesture? Was it the full amount? They probably do not want you to then go on and challenge the loan or the rebate etc.

Bird in the hand is worth two in the bush and if you need that right now then go for it and well done again.:D

maxdp

Just watched it Marshallka. Very interesting.:rolleyes:

marshallka

maxdp wrote: »

Just watched it Marshallka. Very interesting.:rolleyes:

Me too just as we speak... what are your thoughts now maxdp... .

marshallka

Shellbell wrote: »

Hi all
Received my response from Co-op, they say they recommend customers safeguarding loans but PPI is optional and they offer it on that basis when discussing loan requirements (do not!!)

They have said they sent the agreement (I have it) setting out loan amount/PPI amount (front loaded btw) no idea what the actual monthly repayments were and was not told when taking loan, they say I received PPI certificate giving details of cover (they didn't).

They also say I had the right to cancel insurance at any point and would have received partial refund and based on their investigations they are satisfied that a full refund of PPI in not justified and that the cover provided by PPI is valuable and I have had the benefit of this cover since I took out loan and chose to include insurance.

Soooo whats my next step, send the 2nd template letter? I'm really tempted to call them and ask for a transcript of the conversation when I took out the loan, any advice most welcome
:-)

Yeah, get the second template in and if they refuse then you will need to take it to the FOS. This is just the standard fob off letters..

marshallka

angelbearlina wrote: »

Hi,

I am a serial lurker on these boards and I don't think I have posted anything before but I just had to after recieving a letter from the Alliance and Leicester this morning. My ex parttner and I took out a loan in 2002 with them and were told, like so many others that we had to take PPI to get the loan. We payed off the loan in 2007. When I read about the PPI reclaiming on MSE a couple of weeks ago I decided to try and reclaim. I phoned them and explained what had happened and they said (of course) that they had logged the call and would look into it. I then got my ex partner to do the same thing.

I have since then read a few things saying that it is more difficult to reclaim anything paid before 2005. So I didn't hold out much hope. But this morning I recieved a letter offering us £2455.88 as a refund. That's £1828.20 in premiums and £627.68 in interest at 8%. I am so pleased!

I have to sign a form saying I will not take any further action, which makes me wonder what i could get if I did. But to be honest I'm not going to take the risk. Even though I only get half of it (my ex gets the other half) it's money I desperately need right now.

I hope everyone elses reclaims are successful

If you are happy then sign away... pleased for you:D .

maxdp

marshallka wrote: »

Me too just as we speak... what are your thoughts now maxdp... .

I think that couple were totally out of order and greedy. I think the collection agency need sorting out. How they treated that poor daughter who's father had been admitted under Section 2 was Criminal. And the twit on the phone telling her what was and was not Mental Illness needs shooting. I hope they get taken to task for that.:eek: