PPI Reclaiming discussion Part III

di3004

sacbaby37 wrote: »

Hi Di, i have just recieved my statements from sky and there is a interest charge on cash of £10 upwards every month, when i wasnt withdrawing cash, i must be stupid but is this right? From the stupid 1 Sez xxx

Hi there hun
Hmmm, not really sure how this works to be honest hun, but you can always write to them and ask them for an explanation on this, or I am wondering if there is another forum for this?:rolleyes:

Your certainly not stupid hun.;)

Hope this sorts out, please let us know and maybe someone will have some answers here for you.

Good luck
Di.
xxxxxx

di3004

sjat81 wrote: »

Hi All,

I took a loan through debt buster loans who at the time of buying told me that I had to take the PPI they were offering due to the type of loan I was getting or the company providing the loan would not give the loan to me ( poor credit) I then said could I not look elsewhere for it to get it cheaper and wwas told No (no ifs or buts) for these reasons I would like to claim:


At the time of sale and purchase, I believed that the Payment Protection Insurance was compulsory.
I was never informed that this insurance is only optional.

I was never informed that if Payment Protection Insurance was required we could purchase it elsewhere.

I was led to believe that our application would have been rejected had I not included the Payment Protection Insurance.


The PPI was then front loaded by the loan provider London Mortgage company so I have just phoned them to say I'm not happy as I have been mis sold the policy and they said it is not their responsibilty as the PPI was sold by the broker, so I contacted Debtbuster loans who said they would listen to the tapes of the sales conversation and get back to me (via phone) within 10 days, I have just received the letter saying my complaint is being investigated so I called them (the supervisor) who sent me the letter saying that I thought I would be contacted by phone within 10 days (I called them on the 27/11/08) with the outcome and he said he has passed it over to the complaints dept for resolving? and it will take upto 8 weeks before I hear anything which I think is quite long (is it excessive). Apparently they are following their standard compklaints procedure.

I then got the name of my insurance provider to tell them I want to cancel my PPI policy and I was told it was only for 3 years and so finished in june this year! it added around £2500 to my loan which I now have to pay for the next 15 years! which is an extra £37 a month.

What should I do as the policy is no longer valid and it was sold to me by a broker? should I send the first PPI letter to debtbuster loans or wait until they get back to me.

I took out the loan/PPI in June 05 (not sure if this helps me?) as I read in posts on here that some form of legislation came in around this time.


Can anyone advise me on what I should do from here?

Hi there
I would start by writing to them by using the template on this site but use your own reasons hun.
Check this out here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
This is useful.

They have 8 weeks from your letter, post by recorded post, let us know what they say and we will help you to the next step.;)

Good luck
Di

di3004

smudge2002 wrote: »

Hi,

I took out a loan over 7 years from First Direct in June 2007 and took out their PPI. I have recently asked for a settlement figure and havin received the figure find that they haven't included a refund of the PPI. I rang them yesterday to query this and have been told that this is because I made a claim on the insurance in December 2007. I was unaware at the time I took out the loan that there would be no refund of the PPI on early settlement of the loan if I had made a claim. If I had been I would not have taken out the PPI. Their argument is that because I applied for the loan online and their T&Cs were available online and I should have been aware of this. Now I find that the settlement figure is over £1000 more than the original loan amount. Also I will have paid for 5 1/2 years of insurance that I no longer need or will be able to claim on because of a claim that amounted to just over £400.

Is there anyway I can re-claim a refund on the PPI when I settle the loan? Any help wouild be appreciated.

Hiya hun
Unfortunately if a claim has been made on these PPI products, such as for sickness-disability/unemployment they see if that you were aware and were happy with the terms of this.

However if you feel they have done wrong by this, I think you can still complain on that reason.
Write to them and explain what you have added in your post and you feel this is unfair due to your reasons.

Again they have 8 weeks to respond, let us know what they say, we shall take it from there hun, good luck.
Post by recorded delivery, with a bit of luck someone else will come along and help here as well with their opinion of this.;)

Di
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di3004

nembot wrote: »

Hi all,

Egg have just been fined £721,000 for mis-selling insurance!

The consumer revolution is gaining momentum.

Blimey another........:eek: , its all happening then.

Thanks for letting us know.;)

Di
x

di3004

showergirl wrote: »

Have just got off the phone to Tesco PF. It is now 4 weeks since I put in a claim for my ppi. They say they are investigating my case but do not have all the paperwork yet, and have reminded me that they have until the 6th of jan to reply. Looks like I am going to have to wait the full 8 weeks before I hear anything. I don't think they are too happy that I said that I didn't think the person with whom I discussed the loan was properly trained as in the template letter. If they are anything like their stores new people are just given 30mins training then put on a till.

Hi Showergirl
Yes unfortunately its a long 8 weeks.......:rolleyes: , but even if they do not respond by the full 8 weeks you can still move on to the Financial Ombudsman service, afterall they had their chance.

Hope you hear with some good news soon, keep us posted and all the best.;)

Di
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di3004

hayjamdan wrote: »

i took out several loans with a high street bank. these were taken out in dec 2003 ,i later took another in feb 2004 and later in dec 2004 all these loans was higher than the one b4 to cover the outstanding amount for the previous loan. however when taking out the loans i wasnt told anything about getting a ppi. i just found out i had the insurance because my husband was asking if i had insurance i had to ring them up to find out and they said yes i had. with the two previous loans i was given some money back dont no weather it was from the insurance as i thought because i had made some payments they were giving me back dat money . really confused can some one please help

Hello and welcome.;)
May I ask who these loans were taken out with? thanks.

We shall have to check to see if they were members of GISC prior to Jan 2005 when the FSA taken over, because if you were unsuccessful in reclaiming on these, the Financial Ombudsman can only investigate complaints if these firms were covered.
However if its a high street bank I think it should be okay.

I assume you still have all the paperwork for these then?
If not it maybe worth your while requesting this, ring first to ask if any charges for requesting copies of agreements, they may charge a £1 for these and must supply within I think 12 days of requesting, but request in writing as soon as you know if there is a charge or not.

Other than that, check this out here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

This is very useful and will give you some ideas, also a template you can use but use your own reaons and add as much info as you can.;)

They have 8 weeks to respond, post by recorded delivery and please let us know when you hear in case you require further help here, good luck.;)

Di
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showergirl

Is it true that the ombudsman charges to look at your claim. If so who pays this

di3004

showergirl wrote: »

Is it true that the ombudsman charges to look at your claim. If so who pays this

No hun, its a free service.;)
Did someone tell you that hun?

showergirl

di3004 wrote: »

No hun, its a free service.;)
Did someone tell you that hun?

just read on a post on CAG Forum that the FOS charge £450.00

di3004

showergirl wrote: »

just read on a post on CAG Forum that the FOS charge £450.00

Blimey, well I have never heard of that and I was never charged for using their services, maybe its a business charge if you know what I mean, in other words they charge the business but not the consumer.;)