PPI Reclaiming discussion Part III

patfla

GOT AN ENQUIRY.
My brother in law has asked me to help.He took out a Cahoot Flexible Loan in 2004.(When interst was low).
It now sits at 22.9%,variable.He also had PPI with
this loan via Norwich Union.
He is currently paying premium+PPI premium.In effect
although he is paying 140 per month on a balance of
5,000 approx the capital coming off his loan is minimal(£25 approx)
He was diagnosed with Degenerative Multiple sclerosis
on 4/10/2006.This is terminal.
We contacted Norwich Union and they said he may be
able to query the PPI and get one years premiums,as it
only covered periods of unemployment.
We also wrote to Cahoot to see if it is possible to stop
PPI becase he has a terminal illness,will not work again,
and why his APR has gone from 7%to 22.9%
Open to ideas regarding PPI and loan premiums.
Thank you

ric76

sorry, really should have mentioned that i have already copied from the template and sent away claiming on mis-sold single premium,they replied with a letter stating that i knew all about it and signed agreement willingly,they also stated that i had already recieved a rebate, this is were i got my figures from and that if i did not agree send another letter with reason and if no resolution then they have said i should take it to the fos.I have already sent second template letter and are waiting a reply.

gowfer

di3004 wrote: »

Hi there gowfer.
Good luck with your reclaiming.;)

They should supply you with your agreement if you request this, and if this was sold over the internet or not they should let you know, contact them and see what they have to say.
Can you remember when this was (YEAR)?

I know a lot of the mis selling regarding A&L was being sold loans ppi over the telephone but the chances are with any way these were sold.

Let us know if you require further info. Cheers
Di

There are currently reveiwing my case they say and it could take up to 56 days to hear back from them. However i am more and more thinking that i was sold the agreements over the phone. Both my loans were in the time period that they have came out and said they were unfair ie one in may 2005 and other in august 2007. Do i have the right to phone up and claim the money back immediately or should i see out the 56 days. The employee over the phone was particularly helpful and did say i could phone every couple of weeks to check up. which i thought would be a good sign. Any more information?

dreamer33

patfla wrote: »

GOT AN ENQUIRY.
My brother in law has asked me to help.He took out a Cahoot Flexible Loan in 2004.(When interst was low).
It now sits at 22.9%,variable.He also had PPI with
this loan via Norwich Union.
He is currently paying premium+PPI premium.In effect
although he is paying 140 per month on a balance of
5,000 approx the capital coming off his loan is minimal(£25 approx)
He was diagnosed with Degenerative Multiple sclerosis
on 4/10/2006.This is terminal.
We contacted Norwich Union and they said he may be
able to query the PPI and get one years premiums,as it
only covered periods of unemployment.
We also wrote to Cahoot to see if it is possible to stop
PPI becase he has a terminal illness,will not work again,
and why his APR has gone from 7%to 22.9%
Open to ideas regarding PPI and loan premiums.
Thank you

I'm sorry to hear of this. Was the ppi agreed to or was he told he could only have the loan if he took out ppi? Do you feel the ppi was mis-sold?

You should be able to cancel the ppi if he wants to, what they may do is get him to take out another loan to clear this one, but watch the apr, its a tricky one with the interest rate already being 22.9%. They do tend to try and raise the apr higher.

catinthehat1

Still playing the 'waiting game':eek: Have emailed FOS recently re FP, they are waiting on evidence from them!! Getting a bit fed up with it all, if I owed them money, they would be on to me - funny how it doesn't work the other way!! Has anyone had any luck?:o

di3004

patfla wrote: »

GOT AN ENQUIRY.
My brother in law has asked me to help.He took out a Cahoot Flexible Loan in 2004.(When interst was low).
It now sits at 22.9%,variable.He also had PPI with
this loan via Norwich Union.
He is currently paying premium+PPI premium.In effect
although he is paying 140 per month on a balance of
5,000 approx the capital coming off his loan is minimal(£25 approx)
He was diagnosed with Degenerative Multiple sclerosis
on 4/10/2006.This is terminal.
We contacted Norwich Union and they said he may be
able to query the PPI and get one years premiums,as it
only covered periods of unemployment.
We also wrote to Cahoot to see if it is possible to stop
PPI becase he has a terminal illness,will not work again,
and why his APR has gone from 7%to 22.9%
Open to ideas regarding PPI and loan premiums.
Thank you

Hi there
I am really sorry to hear this.
When was your brother-in-law sold the loan with the PPI (the year)?

Did your brother in law agree to the ppi from the start?
Or was it added automatically?

In case there grounds to reclaim the whole lot back not just the year, plus interest.

The PPI, you should be able to cancel anytime, however some loan firms recommend to renew the loan without the ppi.

Now regarding the Apr, have you the paperwork for this at all?

I think you will possibly have some other replies on this also, as I am rushing through the posts due to some issues on my lappy right now, so if anything is missed here, please accept my apolgies and someone will be able to confirm anything missed here.;)

Again I am so sorry about your in laws terminal illness and I send my best wishes.

Please feel free to post anytime and if you require further help, let us know.

Good luck.

sandraroffey

i have been trying to get back PPi from La Redoute (the replies are coming from REDCATS UK) and the latest reply, after me saying pay up or you're dead, goes something like this:

our records show that your policy was sold on the 30th october 2000. the financial ombudsman service, which was set up to help customers with certain complaints, has only had authority over Redcats (Brands) ltd since 14th january 2005. before this date the financial ombudsman service will only investigate and assist complaints regarding mis-selling of policies where the company was previously covered by other regulations set in the general insurance standards council disputes resolution facility. ('GISC DRF')

this means that the rules and regulations as they stand today did not cover the selling of your policy at the time that you purchased it. As Redcats (Brands) Ltd., was not covered by the GISC DRF, we believe this complaint to be outside the jurisdiction of the financial ombudsman service.

based on this we must refer you back to our original response and inform you that we are not upholding your complaint.

it then goes on to say that if i'm not satisfied, contact the financial ombudsman service.

is what they are saying, correct?? sounds like someone has been reading a legal dictionary to me!!!

di3004

ric76 wrote: »

sorry, really should have mentioned that i have already copied from the template and sent away claiming on mis-sold single premium,they replied with a letter stating that i knew all about it and signed agreement willingly,they also stated that i had already recieved a rebate, this is were i got my figures from and that if i did not agree send another letter with reason and if no resolution then they have said i should take it to the fos.I have already sent second template letter and are waiting a reply.

Good luck hun
Hope your lucky this time round then.

And yes the next step is to the FOS if not successful, they will investigate this for you.;)

di3004

gowfer wrote: »

There are currently reveiwing my case they say and it could take up to 56 days to hear back from them. However i am more and more thinking that i was sold the agreements over the phone. Both my loans were in the time period that they have came out and said they were unfair ie one in may 2005 and other in august 2007. Do i have the right to phone up and claim the money back immediately or should i see out the 56 days. The employee over the phone was particularly helpful and did say i could phone every couple of weeks to check up. which i thought would be a good sign. Any more information?

Arh I see, well if your happy enough with that then hun meaning they said they were currently dealing with it maybe see what what they say first, because you always have the choice of taking this to the financial ombudsman service if they do not resolve the case.
See what they say hun and let us know, we shall take if from there.

Fingers crossed.;)

Di

di3004

catinthehat1 wrote: »

Still playing the 'waiting game':eek: Have emailed FOS recently re FP, they are waiting on evidence from them!! Getting a bit fed up with it all, if I owed them money, they would be on to me - funny how it doesn't work the other way!! Has anyone had any luck?:o

Hi there hun.
So your still waiting then?:rolleyes:

I was hoping for some feedback from my adjudicator last week as he had raised a few issues with lloyds, as lloyds would not uphold my case at first, he got back to me last week to tell me he will is reviewing what I emailed him with over the next 10 days....... .
Hope you hear very soon hun and good luck.;)