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PPI Reclaiming discussion Part III

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Comments

  • HelenFS
    HelenFS Posts: 13 Forumite
    Hi there

    I'm just wondering if I can claim for this? 6 years ago I took out a graduate loan for £7000 with HSBC. It was over 3 years. I paid back approx £250 per month (I think it was £241 but I'm searching for the paperwork).

    When I took out the loan the sales advisor was very pushy in selling me the PPI. I felt really forced into it but naively signed the documents. I can't remember there being a breakdown of cost of the PPI although I'm sure there was. All I know is that when the loan started I saw that nearly £1300 (or thereabouts) had been added to the loan amount from the start. I was really shocked and rang up and said that I wanted to cancel the PPI as I didn't want it at the time - felt forced etc. The advisor (same one) was really shirty and said that they couldn't cancel it because I had signed for the loan. When I asked about the 'cooling off' period which I was well within they said that I would have to go back to the application stages of the loan, that I wouldn't know if I would still get the loan and that the terms could have significantly changed. :mad:

    I stupidly left it at that and paid the loan and PPI off within the 3 years.

    Should I try claim?

    Thanks

    Helen
    Save £10 a day in July :T progress£365.65 :D/£310

    Save £10 a day in August :T progress £120.84 /£310
  • marshallka
    marshallka Posts: 14,585 Forumite
    HelenFS wrote: »
    Hi there

    I'm just wondering if I can claim for this? 6 years ago I took out a graduate loan for £7000 with HSBC. It was over 3 years. I paid back approx £250 per month (I think it was £241 but I'm searching for the paperwork).

    When I took out the loan the sales advisor was very pushy in selling me the PPI. I felt really forced into it but naively signed the documents. I can't remember there being a breakdown of cost of the PPI although I'm sure there was. All I know is that when the loan started I saw that nearly £1300 (or thereabouts) had been added to the loan amount from the start. I was really shocked and rang up and said that I wanted to cancel the PPI as I didn't want it at the time - felt forced etc. The advisor (same one) was really shirty and said that they couldn't cancel it because I had signed for the loan. When I asked about the 'cooling off' period which I was well within they said that I would have to go back to the application stages of the loan, that I wouldn't know if I would still get the loan and that the terms could have significantly changed. :mad:

    I stupidly left it at that and paid the loan and PPI off within the 3 years.

    Should I try claim?

    Thanks

    Helen
    You should certainly try to claim it back. When was it that the cooling off period finished?? Also when they said about the terms of the loan being different if the loan had to be redone was not right and constitutes a complaint to the FSA about not treating you fairly.

    Just take a look at the link here and see what you can add and delete from the letter that you send. There is also a template letter on there too but sometimes it can be better to make your own up from this.

    You then write to the firm that actually made the sale of the PPI to you if this is different from the lender and don't forget to send this recorded delivery so you always a proof and dates etc.

    After that you have to give them 8 weeks for a full and final response. In this time it is usual to get a response of "sorry we sold this to you fairly" but you then respond to this and reiterate your complaint again. The next time they write they either give you a final response which you would need in order to take this complaint to the FOS or offer to settle.

    http://www.moneysavingexpert.com/rec...urance#reclaim


    Good luck
  • Aaaaah what the hell, I have just posted an email to my Redcats (vertbaudet) account as follows:

    Please can you send me a copy of my agreement for Total Cover Protection. I have no records of ever taking out this policy, but it was applied to my account when I applied for my Vertbaudet Account. Once I was aware that this policy was deducting money from me, I cancelled the policy. If you cannot supply this information, I shall be deducting the payments you took from me and deducting it from my current balance effective immediately.

    Thanks

    lol I have to try anyblooming thing!!!!! oh they ANNOY ME SOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO MUCH BUMS!!!!

    I'LL LET YOU KNOW MY REPLY LOLOLOLOL
  • They'll prob cut my account and throw me in jail!!!!!!lol

    My other route is not so good...order goods then......................I'm peed is all
  • ignore the above....that's the devil in me coming out!!!!!! boooooooooo
  • marshallka
    marshallka Posts: 14,585 Forumite
    Angel_A wrote: »
    They'll prob cut my account and throw me in jail!!!!!!lol

    My other route is not so good...order goods then......................I'm peed is all
    Or you will get your account paid off as they have no agreement and no agreement can mean no debt owing. I think that is what they did to someone else on here. I wish you luck angel a on your complaint..

    Let us know the outcome here...;)
  • I will do hun....thanks for ALWAYS supporting us on here....with our Good BAD and Ugly......
  • di3004
    di3004 Posts: 42,579 Forumite
    Hi folks

    Have not been posting much at all today, had a massive headache......:mad: , getting there now though......:D .
    The one and only "Dizzy Di" :D
  • fifikav
    fifikav Posts: 44 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Success
    after fos were advised last wednesday that m and S money would be requesting my case should go to an ombudsman for a final decision (18months after 1st complaining to them!) they have today advised that they are now accepting the adjudicants decision and my case has been upheld.

    I do not know why the have changed their mind but I am delighted they did....
    :beer:
    Massive thanks to Tiggrae/Di and Marshalka for all the help and mutual support given over the last 18 months.

    I have to say i am so proud of myself for doing this alone (other than forum support) and would say to others...If I can do it, so can you!!!

    I will update the site with full details when I have them..

    huge thanks

    Fifi

    Now on to Egg....lets see what they are made of !!:j :j :j
  • di3004
    di3004 Posts: 42,579 Forumite
    fifikav wrote: »
    Success
    after fos were advised last wednesday that m and S money would be requesting my case should go to an ombudsman for a final decision (18months after 1st complaining to them!) they have today advised that they are now accepting the adjudicants decision and my case has been upheld.

    I do not know why the have changed their mind but I am delighted they did....
    :beer:
    Massive thanks to Tiggrae/Di and Marshalka for all the help and mutual support given over the last 18 months.

    I have to say i am so proud of myself for doing this alone (other than forum support) and would say to others...If I can do it, so can you!!!

    I will update the site with full details when I have them..

    huge thanks

    Fifi

    Now on to Egg....lets see what they are made of !!:j :j :j


    Fantastic news Fifi........:T :beer: :j , what a lovely surprise......:T , Well done hunni.

    Onwards and Upwards now on with the other........:D ;) , thanks for letting us know fifi hun.
    Di.
    xxx:j
    The one and only "Dizzy Di" :D
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