PPI Reclaiming discussion Part III

marshallka

scarletto wrote: »

Hi I feel really stupid but i thought if your APR was 7.6% you just added 7.6% on top of 5500.00 - how does it work? Sorry i really am thick!! Also is the Single Premium Policies the ones that were just banned - if so is this an added strength to my claim? Thanks

No, the APR is Annual percentage rate and meaning yearly and you had yours for 3 years.

Also the fact that this was as a single premium does have bearing on your claim in that you incurred interest on this payment and was probably not the best/cheapest premium for you.

Most single premiums are sold purely for the profits of the banks and not in the interest of the consumers.

Take a look at the link I provided and find as many reasons as you can from it and make your own letter to say you were missold the premium. Send it recorded delivery and give them 8 weeks for a response.

Good Luck.

marshallka

dave73 wrote: »

im away to post my first letter should i send it recorded delivery or does it not matter

Hi, definately send it recorded delivery as then you have proof of it being sent.

di3004

dave73 wrote: »

im away to post my first letter should i send it recorded delivery or does it not matter

Hi Dave and good luck with this.;)

Like Marshallka has already said, this would be your proof of posting and you can also check this out for your records and proof on the Royal mail website "track and trace".;)

Keep us posted and all the best.

Di

teresabc

hi there, i am completely new to this but was wondering if anyone has had any success in ppi reclaiming from mbna. Any help/advice would be greatly appreciated. Many Thanx

di3004

Some useful news here:

http://www.thisismoney.co.uk/campaigns/loansinsu/article.html?in_article_id=457137&in_page_id=506

di3004

teresabc wrote: »

hi there, i am completely new to this but was wondering if anyone has had any success in ppi reclaiming from mbna. Any help/advice would be greatly appreciated. Many Thanx

Hi there and Welcome.
If you check out the Success forum (PPI) you should come across some successes there.;)


However check out this link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

See if your eligible to try to complain and reclaim any of your PPI back in your pocket.

You will come across some useful information on the PPI mis selling and there is also a template letter on that link which you can use to help with your own letter, but add your own mis selling reasons and as much information as possible.

They have 8 weeks to respond, another letter may be required if not successful first time, as we all seem to receive standard fob off letters to start, but not to worry as this is not the end.
If they mention the Financial ombudsman service in your letter then take your complaint straight to them, but let us know first so we can help you where to go from here.

Sometimes the loan or credit card company say if you come up with further information they may reconsider, if not and a leaflet of the FOS is enclosed then take it straight to them.;)

Post by recorded delivery, and good luck.
If you require further info hunni, please ask anytime.

Di

teresabc

thanx for the links feel a bit more confident now - will send letter using the template. let you know how i get on!

ric76

Took out a loan in 2005 needed the loan quickly so over the phone took the ppi as well,did' nt realise that it would be one lump sum that would be hit with nearly £800 OF INTEREST! received the paperwork and signed.Loan was £246 a month with £52 ppi amonth rougthly £299 a month after 2 years cancelled ppi was told could do it but loan would be renewed, they told me i would have a rebate of £756 deducted off loan that was left for remaining 3 years, loan went up to £275 a month,so it went up from the origanal £246 to £275 over the 3 years which is a difference of £1044 so they have taken back the rebate as such plus about £300 extra as well. Does anybody know can they do this or not and how can they do this. loan was with lloyds tsb

di3004

ric76 wrote: »

Took out a loan in 2005 needed the loan quickly so over the phone took the ppi as well,did' nt realise that it would be one lump sum that would be hit with nearly £800 OF INTEREST! received the paperwork and signed.Loan was £246 a month with £52 ppi amonth rougthly £299 a month after 2 years cancelled ppi was told could do it but loan would be renewed, they told me i would have a rebate of £756 deducted off loan that was left for remaining 3 years, loan went up to £275 a month,so it went up from the origanal £246 to £275 over the 3 years which is a difference of £1044 so they have taken back the rebate as such plus about £300 extra as well. Does anybody know can they do this or not and how can they do this. loan was with lloyds tsb

Hi there
I'm sure someone will be able to answer this for you shortly.

I do know that the main of them now when cancelling ppi renew the loans after cancellation of ppi.


Now about the PPI did they ask if you wanted this or did they make out that you had to have this as being accepted for the loan?

You may have grounds of complaint here, and if you think you have been mis sold this by any chance I would try to reclaim on this.

Above the page you will find a Red box "Reclaim £1,000's, click on that then some info will come up about PPI reclaiming, see if any of it occurs to you, if so get a letter in, they have 8 weeks to respond, we will take this to the next step if not successful.

Also regarding what they have done, request in a separate letter for the calculation of the breakdown to see what is what etc and what went where.

Even if your loan is settled due to going to another loan without ppi you can still reclaim on this.;)

Any letters you send, post by recorded delivery.

If you require further help, please just give us a shout and keep us posted.

Hopefully someone else will post here with some info for you, good luck.

Di

dreamer33

Hi Di

How are you today, say happy birthday to jamie for me when you see him lol just been catching up on the posts.

My first real chance to get on here my daughter had a friend stay and they both stole the lappy:eek: have to say though caught up on my housework:rotfl: