PPI Reclaiming discussion Part III

booi666

Thanks di,
Remind me to give you a big sloopy kiss xx


Thank you;)

di3004

booi666 wrote: »

Thanks di,
Remind me to give you a big sloopy kiss xx


Thank you;)

Awe thanks hun and that's not a problem.;)

I'm just glad you came on to find this.:T
Good luck with this and you know where we are for more help.;) :A xx

maxdp

di3004 wrote: »

Awe thanks hun and that's not a problem.;)

I'm just glad you came on to find this.:T
Good luck with this and you know where we are for more help.;) :A xx

Ohhh Di.

Sloppy Kiss:eek: Time for the feather Boa me thinks:rotfl:

di3004

maxdp wrote: »

Ohhh Di.

Sloppy Kiss:eek: Time for the feather Boa me thinks:rotfl:

:rotfl: :rotfl: lmao !!

How are you Maxdp hun ?
Everything back to reality now then, and I even managed a lie in this morning.;)

Was meant to ask you, are you on Facebook Maxdp? x

di3004

Some News:

http://www.bestadvice.net/story.php?id=14996

http://www.bestadvice.net/story.php?id=14906

di3004

Marshallka

How are you today?
And your eye(s)?, hope everything is okay.;) :A x

wj209980

marshallka wrote: »

Definately a standard letter by the sound of it but I would get things moving with the FOS if they go much beyond 8 weeks. I think they must have lots of complaints to handle;) .

I have just had another look at my agreement. (Just to re-cap - I took out this loan to pay off my Egg Credit Card. When I spoke to the salesperson on the phone, only one price was quoted, and this was the monthly repayment inclusive of PPI, no other options were discussed - I have sent the first template letter to Egg and so far received the above response).

The actual agreement sheet shows the princiapal loan amount (£6200) the Loan Payment Protection Amount (£1429.16) and the Total Amont (£7629.16). The next line just says Number of Installments = 72, and 72 Payments of £132.52.

There are no other figures shown anywhere i.e. no indication of what the loan will cost me in total inclusing the interest.

The back of the sheet is where I sign. There is just one signature required i.e. not a seperate signature for the loan and the PPI.

Does this add additional weight to my argument? I didn't include this in my original letter, but if it adds additional weight to the argument (and assuming Egg come back and say NO to me, then I could potentially throw this back at them??).

Also, I seem to remember emailing them through the secure messaging service sometime into my loan, requesting if I could cancel the PPI. I was told that I couldn't do this, but could take out a new loan without PPI. However, since the PPI was added to the total at the start of the loan, this would have meant the new loan would have included all these additional costs anyway so obviously I didn't take that up - is this another line of argument???

di3004

wj209980 wrote: »

I have just had another look at my agreement. (Just to re-cap - I took out this loan to pay off my Egg Credit Card. When I spoke to the salesperson on the phone, only one price was quoted, and this was the monthly repayment inclusive of PPI, no other options were discussed - I have sent the first template letter to Egg and so far received the above response).

The actual agreement sheet shows the princiapal loan amount (£6200) the Loan Payment Protection Amount (£1429.16) and the Total Amont (£7629.16). The next line just says Number of Installments = 72, and 72 Payments of £132.52.

There are no other figures shown anywhere i.e. no indication of what the loan will cost me in total inclusing the interest.

The back of the sheet is where I sign. There is just one signature required i.e. not a seperate signature for the loan and the PPI.

Does this add additional weight to my argument? I didn't include this in my original letter, but if it adds additional weight to the argument (and assuming Egg come back and say NO to me, then I could potentially throw this back at them??).

Also, I seem to remember emailing them through the secure messaging service sometime into my loan, requesting if I could cancel the PPI. I was told that I couldn't do this, but could take out a new loan without PPI. However, since the PPI was added to the total at the start of the loan, this would have meant the new loan would have included all these additional costs anyway so obviously I didn't take that up - is this another line of argument???

Hi there
I am sure Marshallka shall be back at some point and respond to your post.

If you want to know a bit more of the calulations on how they work it all out, you are entitled to request for them to post you a breakdown of this in detail, so you know what is what where the PPI comes into it.;)

Unfortunately, this seems to be the case with some loan companies, after the cooling period if anyone wants to cancel the PPI a new loan without the PPI is then made if you wanted to do this.

I wish you luck and Marshallka shall post back soon to you when she has a few moments.;)

Di
x

Andylad

Hi, I'm going to try and reclaim mis-sold PPI on my Nan's behalf and was wondering whether anyone can advise me. Basically, my Nan took out a loan in her name with Lloyds TSB back in 2001 so that her and my Grandad could buy a car. The banked opened the loan in my Nan's name as they couldn't do it in joint names at the time due to some error at the bank. The bank told my Nan that she had to take out PPI on this loan (payable to Scottish Widows) to which she agreed.


In 2004, my Grandad had an operation on his leg and therefore could no longer work. They both went back to the bank to tell them of their new circumstances and re-financed the loan to lower the monthly payments. A new PPI was taken out with the new loan but the bank refused to cancel the Scottish Widows DD (for the old loan). They told my Nan & Grandad that they must still continue to pay this (even though my Nan argued this was for the old loan). The bank just kept saying it was in their interest that they kept paying the Scottish Widows Policy despite them paying for a new PPI for the refinanced loan.


The new loan was in joint names and the bank advised my Nan & Grandad that they then would both be covered by the PPI. Sadly, my Grandad died in September 2008 to cancer and so my Nan informed the bank of this and shortly after, she received a letter in October to say the loan was covered by insurance and would be repaid. A week or so later another letter arrived to inform them that only my Nan was covered by insurance being the first named person on the loan agreement.


I have looked at all the paperwork my Nan has given me and it does state that only my Nan was covered but I'm just a bit angry the way the PPI was sold. Can anyone advise how I can go about claiming back the PPI on the old and refinanced loan.


Many thanks,
Andy

di3004

Andylad wrote: »

Hi, I'm going to try and reclaim mis-sold PPI on my Nan's behalf and was wondering whether anyone can advise me. Basically, my Nan took out a loan in her name with Lloyds TSB back in 2001 so that her and my Grandad could buy a car. The banked opened the loan in my Nan's name as they couldn't do it in joint names at the time due to some error at the bank. The bank told my Nan that she had to take out PPI on this loan (payable to Scottish Widows) to which she agreed.


In 2004, my Grandad had an operation on his leg and therefore could no longer work. They both went back to the bank to tell them of their new circumstances and re-financed the loan to lower the monthly payments. A new PPI was taken out with the new loan but the bank refused to cancel the Scottish Widows DD (for the old loan). They told my Nan & Grandad that they must still continue to pay this (even though my Nan argued this was for the old loan). The bank just kept saying it was in their interest that they kept paying the Scottish Widows Policy despite them paying for a new PPI for the refinanced loan.


The new loan was in joint names and the bank advised my Nan & Grandad that they then would both be covered by the PPI. Sadly, my Grandad died in September 2008 to cancer and so my Nan informed the bank of this and shortly after, she received a letter in October to say the loan was covered by insurance and would be repaid. A week or so later another letter arrived to inform them that only my Nan was covered by insurance being the first named person on the loan agreement.


I have looked at all the paperwork my Nan has given me and it does state that only my Nan was covered but I'm just a bit angry the way the PPI was sold. Can anyone advise how I can go about claiming back the PPI on the old and refinanced loan.


Many thanks,
Andy

Hello Andy
Welcome to this forum hun and I will have a read through your post and get back to you in a few mins.;)

Di
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