PPI Reclaiming discussion Part III

di3004

Alby wrote: »

Hi, i hope somebody can help!!
My girlfriend has a loan with welcome finance, i looked over the details at the weekend and found that the ppi had been charged twice....
Basically she had an original 10k loan, was told she needed ppi so agreed to it...the statement shown it added £2558 to the loan... she then recieved a call a few months later saying she could have an extra 5k if she wanted it... she declined but called back a week later having changed her mind... it seems though instead of adding the 5k to the loan, they paid off the old loan (only a few months old) including the £2558 for the ppi, and gave her a new loan including a new ppi fee of £2980... so her statement now shows she owes slightly over 20k....(obviously not including the huge interest rate).
we put a call in and the guy at welcome agreed to cancel the latest ppi (well, £2,300 of it) but the original and now void ppi had to stay..... surely this cant be the case....?!
all in all the full term of the loan would have her paying back over 50k.....
until i looked through the statement...she had no idea it was anywhere near this much... should this not be properly explained when they sell the loan??

hope somebody can help with this!!!

Hi
Sorry to hear of this.

Hopefully someone will come along and give some advice on this one for you soon.

If you have all the statements and paperwork, I would make a phone appointment or write to them to get this sorted out.

There could be grounds here to take to the Financial ombudsman service if they do not resolve this.

Let us know if you need more help here but with a bit of luck someone who may have gone throught his situation themselves may post up with some useful advice for you.
Also let us know how this goes and if not resolved you can always contact the Financial ombudsman service to see if they can deal with this for you first before you go ahead.
http://www.financial-ombudsman.org.uk/contact/index.html

Fingers crossed.;)

Di

di3004

dave73 wrote: »

hi is this ok as first letter dear sir/madam i purchased the above loan insurance from you but now beleive that i was mis-sold this policies for the following reason:this is due to the fact i had informed your member of staff that i had previous medical conditions but they did not inform me of the affect this could have on any insurance claim when the policy was sold unless you can satisfactory justify to me that the policies was fair and reasonable i am requesting a full refund of all preniums subsequent interest on these payments that i have paid to date as i beleive i have been deprived of this money i also expect 8% satutory interest the amount a court would award be added to each payment made i look forward to a full and prompt response to this letter and this matter to be concluded within 8 weeks or i shall be contacting the financial ombudsman to investigate my complaint

Hi Dave
Yes your letter is good.
If you get no success and they have not mentioned about taking to the FOS in the first letter - write back and ask them to reconsider and maybe a bit more further information may be required.
Hopefully it will be a success first time round.

Good luck and let us know the outcome of this in order for us to help you to the next step.;)

di3004

greencode wrote: »

On the first template letter that I send to my Loan Company there's no mention of PPI - it only mentions "Policy". Will they not think I'm simply referring to my entire Loan or will they know that the letter refers to PPI?

Hi there greencode.
It maybe worth your while just writing another quick letter to confirm "you are stating PPI of that policy on letter dated xx/xx/xxxx", its up to you or maybe send them a quick email and/or phone call so you have no comebacks.

Remember to add "I'm referring to my letter dated xx/xx/xxxx"

I take it you have already sent the letter?
If not just squeeze in PPI next to Policy.

I'm sure it will be okay, please let us know the outcome and all the best, thanks.;)

marshallka

Hi, just been out for a while. Been a funeral:sad: . Will take a look through the posts but have had two wines and its taken me about ten mins to post this. LOL.

Still no email from the co-op claim.

Anyone esle heard anything.. especially Di??

di3004

marshallka wrote: »

Hi, just been out for a while. Been a funeral:sad: . Will take a look through the posts but have had two wines and its taken me about ten mins to post this. LOL.

Still no email from the co-op claim.

Anyone esle heard anything.. especially Di??

Hi Marshallka
Hope your okay hunni......oh no that is so sad - sorry to hear that hun....... . My father in law lost his cousin last week, so we have a funeral coming up here too this week.

Not heard a thing about anything yet.........

marshallka

di3004 wrote: »

Hi Marshallka
Hope your okay hunni......oh no that is so sad - sorry to hear that hun....... . My father in law lost his cousin last week, so we have a funeral coming up here too this week.

Not heard a thing about anything yet.........

My daughters god mother too, and suicide.. not nice. .

di3004

marshallka wrote: »

My daughters god mother too, and suicide.. not nice. .

OMG..........:eek: , that is dreadful.........:eek: , very sad indeed, I am sorry to hear this Marshallka.

marshallka

di3004 wrote: »

OMG..........:eek: , that is dreadful.........:eek: , very sad indeed, I am sorry to hear this Marshallka.

thanks Di, I am pretty cut up at the moment and its not like me. I will post later .

We had fell out a couple of years back over the lads and she was not close to many people as she was the sort of person that either liked you or did not. I was like her really and that is why out of every one I knew I chose her to be god mother. I just wish we could have talked.

di3004

Marshallka

I know your probably not in the mood for this right now due to the very sad day, but have you heard anything about any of your claims yet ?;)

di3004

marshallka wrote: »

thanks Di, I am pretty cut up at the moment and its not like me. I will post later .

Yes that's okay hun, don't you worry and I do understand.
Have a sweet tea hun, put your feet up for a little while.;)