PPI Reclaiming discussion Part III

jinxy7

Thank you all for you help, I will get writing and keep you posted on how I get on.

di3004

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

Hi there James.

As you were the actual director, I really do not actually know how this would work, but the PPI issue should stand for all, if mis sold and eligible etc.

Maybe someone will come along and have some answers for this.;)

Good luck
Di

di3004

jinxy7 wrote: »

Thank you all for you help, I will get writing and keep you posted on how I get on.

Good luck hunni, yes please let us know how you get on.

Sometimes another letter maybe required, in case you receive the bog standard fob off response, but keep writing to them until they either give you a favourable response, or until you receive the Final response where they suggest the Financial Ombudsman service, they do generally enclose the FOS leaflet at that stage as well.;)

Everything crossed here for you.;)

Di
x

Silverbird

Hi everybody

I asked yesterday about whether I should write to A&L to let them know they had 7 days to get back to me with a response or I would write to FOS (over 8 weeks since initial letter and no final response). I sent them a letter to this effect.

Today I have received a letter, dated 23 December, which states the following:

I am writing to advise that unfortunately we are not yet in a position to provide you with the outcome. As eight weeks have now elapsed and if you are not happy to wait for our conclusion, you may wish to refer the matter to the Financial Ombudsman. We will help you if you wish to take this step, however, I do hope we can resolve matters before then. Thank you for your patience in this matter. etc etc

What do you guys suggest that I do? Should I perhaps wait another couple of weeks and see what happens or go to the FOS to start the ball rolling?

I look forward to any answers and thanks in advance!

di3004

Silverbird wrote: »

Hi everybody

I asked yesterday about whether I should write to A&L to let them know they had 7 days to get back to me with a response or I would write to FOS (over 8 weeks since initial letter and no final response). I sent them a letter to this effect.

Today I have received a letter, dated 23 December, which states the following:

I am writing to advise that unfortunately we are not yet in a position to provide you with the outcome. As eight weeks have now elapsed and if you are not happy to wait for our conclusion, you may wish to refer the matter to the Financial Ombudsman. We will help you if you wish to take this step, however, I do hope we can resolve matters before then. Thank you for your patience in this matter. etc etc

What do you guys suggest that I do? Should I perhaps wait another couple of weeks and see what happens or go to the FOS to start the ball rolling?

I look forward to any answers and thanks in advance!

Hi Silverbird.;)

This is an option you have hun, you could now fill out a form which you can either download from the FOS site here:
http://www.financial-ombudsman.org.uk/consumer/complaints.htm
Or ring them for an hardcopy through the post, but remember to also send a copy to A&L and inform them "I have now taken this investigation to the Financial ombudsman service in order for them to investigate, where I enclose a copy of the complaint form for your records".
This way A&L may still reconsider and hopefully they this will then go in your favour, for some this has worked, but still post to the FOS as well with copies of any correspondence.

Its up to you hun, but like I said it could even push them on a bit more.;)

Good luck, please let us know how you get on, cheers.

Di
x

di3004

Marshallka & Maxdp.

Just to let you know the guy (mortgage adviser) Tim has taken all our details today as we had to fill in a form and we are due to a call back tomorrow, fingers crossed.;)

Are you both doing anything exciting this evening?

Not seen any of you this evening, hope everything is okay.:A x

davemchol

Hi again not been on for a while. Have just recieved Data access from HBOS and have discovered I had three old loans. The first had no pppi on it. However the other two both consolidation loans have.

1st Loan signed 9/2/2001 for £4500 over 4 Years
ppi insurance = 873.16
ppi intrest = 327.8

2nd loans signed 4/1/03 for £7200 over 5 years
ppi insurance 1617.34
ppi interest 421.46

paid off 14/3/2007

just wondered if I would just claim the total ppi for both loans or does interest come into play. Am confused?

di3004

davemchol wrote: »

Hi again not been on for a while. Have just recieved Data access from HBOS and have discovered I had three old loans. The first had no pppi on it. However the other two both consolidation loans have.

1st Loan signed 9/2/2001 for £4500 over 4 Years
ppi insurance = 873.16
ppi intrest = 327.8

2nd loans signed 4/1/03 for £7200 over 5 years
ppi insurance 1617.34
ppi interest 421.46

paid off 14/3/2007

just wondered if I would just claim the total ppi for both loans or does interest come into play. Am confused?

Hiya Dave
You claim for the interest as well and the whole PPI, as if you did not have the PPI from the start.;)

davemchol

how much would that total?
or would you need the APR rate for the loans?

di3004

davemchol wrote: »

how much would that total?
or would you need the APR rate for the loans?

Right hun
I am not the one for calculations myself but I am sure this will be worked out for you on here, our Marshallka when she has 5 will probably have a go, she is great with working these out.
You would also be claiming for contractual interest and the 8% interest of what a court would award.;)