PPI Reclaiming discussion Part III

s0095063

di3004 wrote: »

Hi there
And well done to your mum for her case being resolved.:T :beer: .
Well almost lol.

Right hun who is the company ?

Crikey surely it should not take them 6 weeks to work out a calculation..:eek: , I would write to them and tell them your mum has already waited 6 weeks, if you have not recieved anything within 14 days you will have to take further action.
Now I had to do this and suddenly the payment was paid before the 14 days were up.

Other than that I will see if I can trace my old LBA (letter before action), this normally works and then no action will be taken.

Post by recorded delivery to keep an eye on the royal mail website track and trace and give them 14 days from the date of your letter.;)

Good luck and congratulations to your mum, I hope she receives all her money very soon.:T
When she does please post on the success forums.;)

Check this LBA site out, this may help.
http://office.microsoft.com/en-gb/templates/TC011960301033.aspx?CategoryID=CT101470391033

Di.
x

Just a wee update, my mum finally recieved a letter through the post saying that £1,100 in the form of a cheque is on it's way :T :j

I'm really pleased for her, cheers for the help on here too.

marshallka

bannisterbadback wrote: »

Hi folks!

i know this will seem like an utterly ridiculous question but i have my letter all sorted and ready to go but would like to know, should i send it to my local branch or are the claimsdealt with at HQ?

silly i know but i wouldnt want the letter chucking in the bin if it gets sent to the wrong place

Most people sent these letters to the complaints at the head office.

marshallka

s0095063 wrote: »

Just a wee update, my mum finally recieved a letter through the post saying that £1,100 in the form of a cheque is on it's way :T :j

I'm really pleased for her, cheers for the help on here too.

Brilliant news for your mum. Get her to treat herself now.:beer: :j

marshallka

aitch7 wrote: »

I am interested in cancelling the PPI on my HSBC loan but have just become unemployed, (hopefully short term), and so I would not get another insurance elsewhere. Family can provide financial support to cover the loan repayments and, if I was to claim back PPI, this would cover some of the repayments anyway.
However, my policy says that if I cancel the PPI I will also need to cancel my loan agreement and am concerned HSBC will expect full payment of the loan or will not re-arrange the loan because I am now unemployed and /or I do not have sufficient insurance cover, (perhaps this could affect my credit rating).
Also it states, in the policy, the percentage of refund after each year of the loan has passed. Would this include the interest paid on the PPI and could I claim back PPI for the period before I had my loan re-calculated to include consolidation of a credit card?

I agree with Di here. This is an awkward situation in that you are now unemployed. Perhaps someone on here has been in a similar situation to you and maybe could give you better advice here.

Good luck..

s0095063

marshallka wrote: »

Brilliant news for your mum. Get her to treat herself now.:beer: :j

I'll make sure she does. (and keeps a little for my crimbo :rotfl: )

_Andy_

aitch7 wrote: »

I am interested in cancelling the PPI on my HSBC loan but have just become unemployed, (hopefully short term), and so I would not get another insurance elsewhere. Family can provide financial support to cover the loan repayments and, if I was to claim back PPI, this would cover some of the repayments anyway.
However, my policy says that if I cancel the PPI I will also need to cancel my loan agreement and am concerned HSBC will expect full payment of the loan or will not re-arrange the loan because I am now unemployed and /or I do not have sufficient insurance cover, (perhaps this could affect my credit rating).
Also it states, in the policy, the percentage of refund after each year of the loan has passed. Would this include the interest paid on the PPI and could I claim back PPI for the period before I had my loan re-calculated to include consolidation of a credit card?

On what basis do you feel you have the right to reclaim the PPI?

marshallka

_Andy_ wrote: »

On what basis do you feel you have the right to reclaim the PPI?

Glad you asked that!!!

_Andy_

marshallka wrote: »

Glad you asked that!!!

Thanks. Well as much as I'm all for reclaiming PPI in the right situations, there seems to be many people who assume they can reclaim it just because they decide they don't want it/need it any more and it's not an ethic I condone.

misty27

Hi There

Just after some advice please, I have two loans with the Yorkshire Bank which I took out in 2001/2002, I got into difficulties with these and am now on a reduced monthly payment plan. I can definatley remember at the time the assistant stating at the time that I had to take out the insurance or I couldn't have the loan. I have the account numbers but not the paperwork could I still claim.

Any advice would be great.

Thanks

Nikkijane_2

Hi All - I am new here, but hope someone with more financial savvy than me can help!

I have had a look through some of the above comments, and seem to have a similar problem to some others. I took a fixed rate loan out for 5 years last June 07 and (stupidly) took the PPI out with it. I was also unfortunate enough to have my fixed rate mortgage come to an end over the summer, so had to settle for a higher fixed rate for the next two years. Due to this, I decided to cancel the PPI on my loan to help with the additional costs I needed to find.

I read through the terms and conditions, and noticed if I cancelled within 12 months, I was entitled to (i think it was) 50% back of anything paid, but as I just fell out of the 12 months, it was something like 35% instead. A bit annoying, but hey, get something back. I sent a letter cancelling my payment protection and assumed I would be going back to the 'loan amount installment per month' as detailed on the credit agreement I signed, with the cheque for the rebate to follow.

I was wrong. I have since discovered that Abbey have front loaded the interest on the now cancelled PPI and therefore I am paying back nearly £25 per month over what the loan amount should be, as this is the interest for the now cancelled PPI. I still have another three and a half years to go on this loan, and somehow feel duped by the fact I am paying interest on a product which wont exist for the duration of the loan.

Is there any loophole anyone can think of which prevents this front loading of interest on the PPI even when the policy has been cancelled? I really do find this appauling! Just another money making machine for the banks. I dont think I will fall into the 'missold' category unfortunately, as it does mention the front loading thing in the terms and conditions (although I didn't understand what it really implied until now!)...

Any help and or guidance will be appreciated!