PPI Reclaiming discussion Part III

mimeartist_limited

Hi all,

A quick question to see if I can claim as a little grey in my brain!

About 3 or 4 years ago I took out a loan to help out my limited company (not the one I belong to now), as we had a bit of a cash flow problem, and I was one of the directors... I took out a 6,500 loan and had to pay back 323.82 each month for 24 months, and they put the lump sum of the ppi on the price... The loan was with Egg who I'm still a customer, but have paid the loan now.

Anyway, as I was a director I was paying myself minimum wage and then paying a dividend from the company when I could... So I'm wondering if I was actually eligible for this cover anyway, plus we had payment protection for sickness etc through the company anyway with HSBC?

Also although I can't remember it word for word, it seemed like the loan was more likely to go through if I took the cover

So, does it sound like I have a good case to demand back what I payed?

Thank you, James

feisty1

jinxy7: go to the below plenty info there

http://forums.moneysavingexpert.com/showthread.html?t=1251243&page=315

mimeartist_limited

PS I read the info... but thought my wages thing was a bit of a special case... which has always confused me!

pinknico

jinxy7 wrote: »

Hi,
This is my first post on this fanastic site, having read about the PPi scandal in the press at the weekend we feel as though we have a case against Firstplus.
We tok out a loan in 2006 and were told that PPI was required, they did not say it was optional or that we could shop around. Do we have a good case for a refund and where do we start? Any help much appreciated.

Did you get the loan directly from First Plus or through a broker?
You have to make the claim to whoever sold you the policy.

You can send an SAR to First Plus with £10 and they will send you all the information they have about you and the loan. They have 40 days to comply to this request.

There is also nothing to stop you writing to First Plus saying you were mis sold and why, while waiting for the SAR.

Were you told over the phone PPI was required?

pinknico

mimeartist_limited wrote: »

Hi all,

A quick question to see if I can claim as a little grey in my brain!

About 3 or 4 years ago I took out a loan to help out my limited company (not the one I belong to now), as we had a bit of a cash flow problem, and I was one of the directors... I took out a 6,500 loan and had to pay back 323.82 each month for 24 months, and they put the lump sum of the ppi on the price... The loan was with Egg who I'm still a customer, but have paid the loan now.

Anyway, as I was a director I was paying myself minimum wage and then paying a dividend from the company when I could... So I'm wondering if I was actually eligible for this cover anyway, plus we had payment protection for sickness etc through the company anyway with HSBC?

Also although I can't remember it word for word, it seemed like the loan was more likely to go through if I took the cover

So, does it sound like I have a good case to demand back what I payed?

Thank you, James

If you already had cover then you have a good case. You can either write to them straight away saying you were mis sold and why, or you can send an SAR and see if you get back any information that can help with your claim and show how this policy was sold to you.

jinxy7

Having looked through the paperwork it was Barclays Ireland who supplied the PPI, will i have to write to them?.
They didn't give an option on the phone and just added it anyway.

jinxy7

Can you reclaim PPI from your credit card? looking at my LloydsTSB card it has PPI on the statement, don't remember asing for it.

di3004

jinxy7 wrote: »

Hi,
This is my first post on this fanastic site, having read about the PPi scandal in the press at the weekend we feel as though we have a case against Firstplus.
We tok out a loan in 2006 and were told that PPI was required, they did not say it was optional or that we could shop around. Do we have a good case for a refund and where do we start? Any help much appreciated.

Hi and welcome jinxsy

Well it seems to me if they did not give you the info and not say it was optional you may stand a good chance of reclaiming this back.

Check this link out here hun:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
There is some use ppi info on that link where this may help you with other reasons as well which may occur to you.

Check it out and there is also a template letter you can use to help guide you, but add your own reasons to that and as much info as possible to back your complaint.
They have 8 weeks to respond in full, post by recorded delivery for your proof and to keep a check on the 8 weeks timescales they have.

Please let us know the outcome of this and we can then move on to the following step if required, but keep at them.

Good luck hun and let us know if you want further help and info.;)

Di
x

di3004

Jinxy

I see some other great members have also posted as well.;)

And just to say its the ones who actually arranged your loan/ppi is the ones to write to.;)

If you need more paperwork and do not have these, such as the agreement etc, ring them and ask if there is a charge for requesting a copy of this, some charge a £1 cheque for this, then request in writing, this should take about 12 days to arrive from request, the other option is a SAR known as a Subject access request where they must provide you will ALL info they have on you on your account(s), they have 40 days to comply and there is a charge of £10 cheque or postal order payment.

If you require the template for the SAR let us know where one of us will be happy to post up for you, again post by recorded delivery.

Yes you can also try to reclaim Credit Card PPI if you believe you were mis sold on them for any reason.;)

Di
x

di3004

Oops sorry Pinknico.....you've already posted to jinxy.....:o , thanks anyway hunni.:A x