PPI Reclaiming discussion Part III

di3004

Littleluc21 wrote: »

Uh huh!!! I think because I know this money could pay off a credit card and stop another phone call has made me even more determined!! Hope you get good news with your sons storecard.....what would we do without mums!!

L xxxx

Thank you hunni, just post up when you hear and we will take it from there, hopefully they will uphold this first time round and pay out.:D x

sarah7610

Yes, I was thinking the same thing. Surely if not many people have won their case through FLA then there is a problem with them? It does say on the FLA site that if you are not happy with the outcome then you can take it to the FOS but hopefully it won't come to that!

sarah7610

Hi it's me again,

I've just been studying my original loan agreement with Black Horse and have noticed that they have added interest to the PPI in the tune of 24.9%, bumping it up from £640.52 to £975.84. Is this legal?

Thanks
Sarah

masmit

sarah7610 wrote: »

Hi it's me again,

I've just been studying my original loan agreement with Black Horse and have noticed that they have added interest to the PPI in the tune of 24.9%, bumping it up from £640.52 to £975.84. Is this legal?

Thanks
Sarah

as far as i know sarah it is only illegal if you signed for a lower rate & they changed it without you knowing.
over the years i have had all different interest rates of blackhorse & i presume we can claim back what we were charged.

marshallka

masmit wrote: »

hi marsha
you say you have only heard of one case being won by the FLA, have you heard a lot of losses then doe's not sound good

What i was meaning is that they have probably had a kick up the back side in that they should help with these claims. Its is their job really so maybe they are shaping up as this was just recently that someone posted winning some money back with their help. Even Martin on the PPI bit about how to reclaim is awaiting any feedback on them..

Hope you win and let us know when you get a response...;)

marshallka

sarah7610 wrote: »

Yes, I was thinking the same thing. Surely if not many people have won their case through FLA then there is a problem with them? It does say on the FLA site that if you are not happy with the outcome then you can take it to the FOS but hopefully it won't come to that!

If you can take your claim to the FOS in beginning then I would certainly bypass the FLA i think... Usually complaints made to the FLA are cause they cannot be made to the FOS..

sarah7610

It just doesn't seem right that they put interest on PPI. You already pay interest on the loan so why pay it on that...........What a rip off!

Thanks for the reply

marshallka

sarah7610 wrote: »

Hi it's me again,

I've just been studying my original loan agreement with Black Horse and have noticed that they have added interest to the PPI in the tune of 24.9%, bumping it up from £640.52 to £975.84. Is this legal?

Thanks
Sarah

that is why there is a coming ban on these policies. They are actually loans on top of loans. They incur interest and often only last for the first 5 years of any loan but interest continues on the full term of the loan... It is legal but people are winning this back daily due to this reason. They are not sold in the interest of the consumer and usually sold more in the interest of the banks/finance companies making money. There are far cheaper options available that are cancellable and also do not have interest thrust upon them.

sarah7610

Banks and finance companies really get my back up!...........Like the saying goes...........The rich get richer and the poor get poorer.
I'm so glad that people are starting to get their own back.

Thanks Martin for being the best money saving expert, if it wasn't fo you we wouldn't know we could claim all this money back.

marshallka

sarah7610 wrote: »

Banks and finance companies really get my back up!...........Like the saying goes...........The rich get richer and the poor get poorer.
I'm so glad that people are starting to get their own back.

Thanks Martin for being the best money saving expert, if it wasn't fo you we wouldn't know we could claim all this money back.

I have been on this thread since early this year and never seen him make an appearance on it yet...:eek:

Yeah, thanks to Martin we are quids better off than last year...