PPI Reclaiming discussion Part III

di3004

nilrs wrote: »

hi

many thanks for your advice the more people tell me i have a chance of getting something back the more confident i feel, i have just joined another forum on another site which is about reclaiming for ppi, cards etc and there is someone over there who is in the exact same position as ourselves, i have started drafting a letter, but looking through the firstplus letter is says "payment protection has been forwarded direct to the insurers" although dh though this would be monthly payments and not a huge lump sum.

so i have the feeling they will pass this onto whoever our insurance was taken out with. not sure if this will make it more difficult or easier?

anyway many thanks.
nilrs (kim)

Good luck Kim and please post anytime, hope you win your case.;)

Di

AVFC3090

I have been reading about reclaiming [EMAIL="PPI@s"]PPI's[/EMAIL] recently and was wondering if i had a case, with my bank. I took out a £7,500 loan over four years, with a PPI. After two years i got into trouble with my overdraft and the bank informed me the best option was to incoporate my loan and overdraft and they gave me a new monthly payment of £80 instead of the previous £204 per month spread over a longer period, i accepted and until may this year, when i was made redundant i paid the £80 installments, when i was made redundant i did not realise the payment protection i had on the original loan had not been carried onto the new arrangement, meaning i paid for a policy for 2 years and lost it. Am i entitled to anything back, would welcome some input

di3004

AVFC3090 wrote: »

I have been reading about reclaiming PPI's recently and was wondering if i had a case, with my bank. I took out a £7,500 loan over four years, with a PPI. After two years i got into trouble with my overdraft and the bank informed me the best option was to incoporate my loan and overdraft and they gave me a new monthly payment of £80 instead of the previous £204 per month spread over a longer period, i accepted and until may this year, when i was made redundant i paid the £80 installments, when i was made redundant i did not realise the payment protection i had on the original loan had not been carried onto the new arrangement, meaning i paid for a policy for 2 years and lost it. Am i entitled to anything back, would welcome some input

Hi there
Yes you have grounds for complaint here, get a letter in hun.

Check out here
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
You will see some info on mis selling and a template reclaim letter to help you through this, but add your own reasons, they have 8 weeks to get back to you, but hun do not be put off if you receive a fob off letter because another letter can be sent for them to reconsider before it goes to the financial ombudsman service, post by recorded delivery to keep an eye on those 8 weeks.

If you could post back the outcome of this we will help guide you to the next step.

Good luck
Di

dreamer33

marshallka wrote: »

The problem is with your dryer and not your electrics. Your trip switch is going each time telling you something is wrong. Check the plus and fuse etc??

Yes its the dryer lol tried it in another socket and blowing each time, omg I have so much drying and it will never dry outside : (

dreamer33

nilrs wrote: »

hi

many thanks for your advice the more people tell me i have a chance of getting something back the more confident i feel, i have just joined another forum on another site which is about reclaiming for ppi, cards etc and there is someone over there who is in the exact same position as ourselves, i have started drafting a letter, but looking through the firstplus letter is says "payment protection has been forwarded direct to the insurers" although dh though this would be monthly payments and not a huge lump sum.

so i have the feeling they will pass this onto whoever our insurance was taken out with. not sure if this will make it more difficult or easier?

anyway many thanks.
nilrs (kim)

Hi

Have you request a SAR (subject access request) yet, If not I always say get that and the recordings of the telephone calls as evidence.

It sounds to me like to have a valid reason for claiming.

good luck

dreamer33

di3004 wrote: »

Oh dear, that is sooooo annoying, sorry to hear of that dreamer, hope it gets sorted out soon.

I think I have too much electricity in me, the one day for some stupid reason (this was when I was about 19 years old), I stayed at my ex's mums house, and blown the kettle, hoover and iron in one day......:o , and even now I give others electric shocks.....:eek: , think that may be due to spending lots of time on here now though.....:o , and I have already predicted what will happen to me..........it will be what you call "spontanious combustion" isn't that what its called, when you burst into flames !!!! ?:o lol.

good luck dreamer. x

Hee hee lol yes thats what its called :rotfl: Maybe if I put my fingers in the socket and hold the plug it will work :rotfl: (only kidding)

dreamer33

AVFC3090 wrote: »

I have been reading about reclaiming PPI's recently and was wondering if i had a case, with my bank. I took out a £7,500 loan over four years, with a PPI. After two years i got into trouble with my overdraft and the bank informed me the best option was to incoporate my loan and overdraft and they gave me a new monthly payment of £80 instead of the previous £204 per month spread over a longer period, i accepted and until may this year, when i was made redundant i paid the £80 installments, when i was made redundant i did not realise the payment protection i had on the original loan had not been carried onto the new arrangement, meaning i paid for a policy for 2 years and lost it. Am i entitled to anything back, would welcome some input

Sorry to hear about your job. PPI reclaiming is for anyone that has been mis-sold the policy ie telling you, you cannot get the loan unless you take out PPI etc...

It sounds like your bank has given you a brand new loan in order to add the overdraft to it. I've had a managed loan before where the monthly payment is reduced but the % rate is generally higher than a normal loan. It sounds like this is what has happened.

You may need to query this with your bank first.

albertramsbottom

hundreds more pounds according to Lloyd's bank when my partner became unemployed. They refused to pay because she had been dismissed so she asked to cancel it and they said it would cost hundreds of pounds.

So now she is unemployed and cant afford to pay back the loan and cant even cancel the PPI

Any ideas

Cheers

marshallka

albertramsbottom wrote: »

hundreds more pounds according to Lloyd's bank when my partner became unemployed. They refused to pay because she had been dismissed so she asked to cancel it and they said it would cost hundreds of pounds.

So now she is unemployed and cant afford to pay back the loan and cant even cancel the PPI

Any ideas

Cheers

I have left a post for you on the original thread..(copied here)
Yes you are allowed to cancel the PPI

What normally happens when you cancel the insurance is you have to take out another loan. This loan should be of no higher APR to your original. The also have to offer you a fair refund against the remaining PPI. The PPI would have been another loan to pay it on top of your original loan.

If all you are requesting is to cancel it as you want to make your repayments cheaper then I would quote and FSA guidance on fair refunds here.

http://www.fsa.gov.uk/pages/Library/...2007/043.shtml

treat their customers fairly if they need to reissue the associated loan in order to cancel the PPI;
calculate the refund fairly, taking into account their reasonably incurred costs, which may or may not result in a pro-rata refund;

You may not have grounds to say it was missold to you because of the issue of dismissed at work as most policies have this in their exclusions but you are entitled to cancel and get a fair refund.

dreamer33

di3004 wrote: »

and you will look like this......:eek: :eek: , lol......:rotfl: :rotfl: :rotfl: , pmsl, now behave yourself lol.......:rotfl: :rotfl:

rofl
:rotfl: