PPI Reclaiming discussion Part III

tylerlewis

Success I think ?!?!?!?

Passed my claim to FOS last week as HFC didnt reply after 8 weeks. Sent copy of complaint form to HFC to advise I'd taken to FOS as sick of waiting.
Rang HFC to check they'd received it and was told a letter was on its way to me today with an offer of £1945 for both loans Ive got. I asked if I could have this as a chq but they said it was to be offset against what I still owe. They would then combine the 2 loans and I would need to take out another loan to pay whats left. He also said that because I would be paying the loans off early thay have deducted the charge for this off of the offer!!!!

Rang FOS as didnt think this sounded right. They agreed that it should be my decision as to whether its offset or I get a chq and they can only make me offset it if Im in arrears which Im not.

Surely HFC cant make me pay an early settlement fee for this can they??? If they cant, then they owe me more money but not sure as what happens with my payments while this is sorted as I'll be paying again next week and the figure he's given me is what PPI Ive paid so far. Will they have to change the amount they're refunding me again??

Hope this makes sense

jadest

tylerlewis wrote: »

Success I think ?!?!?!?

Passed my claim to FOS last week as HFC didnt reply after 8 weeks. Sent copy of complaint form to HFC to advise I'd taken to FOS as sick of waiting.
Rang HFC to check they'd received it and was told a letter was on its way to me today with an offer of £1945 for both loans Ive got. I asked if I could have this as a chq but they said it was to be offset against what I still owe. They would then combine the 2 loans and I would need to take out another loan to pay whats left. He also said that because I would be paying the loans off early thay have deducted the charge for this off of the offer!!!!

Rang FOS as didnt think this sounded right. They agreed that it should be my decision as to whether its offset or I get a chq and they can only make me offset it if Im in arrears which Im not.

Surely HFC cant make me pay an early settlement fee for this can they??? If they cant, then they owe me more money but not sure as what happens with my payments while this is sorted as I'll be paying again next week and the figure he's given me is what PPI Ive paid so far. Will they have to change the amount they're refunding me again??

Hope this makes sense

I would reject there offer as that is all it is and tell them what you want... if you are not in arrears they cannot make you ofset it... Also still carry on with complaint with FOS making sure you forward them coppies of any corrispondance you have with HFC as it will effect your cases if you don't.

Good luck

pacemaker

di3004 wrote: »

Hi there hun

Sorry to hear of all your problems.

Insurance should be optional for any finance.

Please could you confirm when you had taken this out?

I would check out all you have if you still have the agreements for your loans/credit cards etc, and if you still have the terms and conds for these.

If not you can always request a SAR, known as a Subject access request where they will supply everything they have on you.
They have 40 days to comply and as always post by recorded delivery for your proof of posting and to keep a check on the 40 days timescale they have.

However there is a £10 charge for this either by cheque or postal order.

If you want the SAR template for this one of us will post up for you, I will post up shortly in another post when I come across it.;)

Now in reclaiming, check this out here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

There is some useful PPI info which will give you more of an idea of how people were/are mis sold, they have 8 weeks to respond in full, again post by recorded delivery.
There is also a template letter you can use to help guide you but add your own reasons and as much info as possible to back your complaint.

Let us know how you get on in case further letters have to be sent if not successful first time round, or until they give the final response and mention the financial ombudsman service (FOS).

Good luck.;)

Di
x

Thanks every one for your help I have done some initial research No insurance on Barclay card or Halifax nor M&S but definately on Barclay overdraft Have to look and see when It was taken out still not found relevent paperwork cos so much catching up after being in Hospital Had been on incapacity since September 2005 when my Sick pay from work ran out have permanent Heart disability since then compounded with Crohns disease etc not a nice outcome but try and make the best but I tend to over do my limitations hence the last spell in Hospital with a blood clot, my own fault trying to work at xmas fairs and standing too long. I have down loaded the templates and once I have the dates will start from there. Thanks to everyone

jadest

Hi Tyler

I meant to say reject the offer if the condition of the offer is that the money is taken from the loan... sorry I got it confused.

Good luck

CEDDAR21

Hi All

I need help to know if I have a case or not, but before a little bit of background.

Few years ago I had some issues (Car stolen with no reimbursement from the insurance, council tax not paid by tenants and other adventures). I have then decided to consolidate my debts in taking a loan with Bank Of Scotland for £14,200. At the time 2004, I was not fluent English speaker and a s I am French, it is not working the same way in France.

Few months ago, my friend introduced to this site and I have started to check my finances (Credit crunch impact).
Checking my unsecured loan contract I have noticed the lines below:
Cash Loan £14,200
Add: total charge for credit for cash loan £4284.56
Insurance loan (Cash price of insurance) £3471.74
Add Total charge for credit for insurance loan £1047.70
Total amount you pay £23004.00

My first question is this £4519.44 Insurance loan plus credit is PPI?
If this is the case, I have a credit card with BOS and can they ask me to pay the balance if I claim for the PPI?

Hope you can help me.

Thank you for your help

jadest

pacemaker wrote: »

Thanks every one for your help I have done some initial research No insurance on Barclay card or Halifax nor M&S but definately on Barclay overdraft Have to look and see when It was taken out still not found relevent paperwork cos so much catching up after being in Hospital Had been on incapacity since September 2005 when my Sick pay from work ran out have permanent Heart disability since then compounded with Crohns disease etc not a nice outcome but try and make the best but I tend to over do my limitations hence the last spell in Hospital with a blood clot, my own fault trying to work at xmas fairs and standing too long. I have down loaded the templates and once I have the dates will start from there. Thanks to everyone

Sorry to hear about how ill you have been..

Good-luck with your claims

tylerlewis

jadest wrote: »

Hi Tyler

I meant to say reject the offer if the condition of the offer is that the money is taken from the loan... sorry I got it confused.

Good luck

Can't wait to get the letter tomorrow to see what its got to say. But if it is on the condition thats its offset then I will be rejecting it.

jadest

CEDDAR21 wrote: »

Hi All

I need help to know if I have a case or not, but before a little bit of background.

Few years ago I had some issues (Car stolen with no reimbursement from the insurance, council tax not paid by tenants and other adventures). I have then decided to consolidate my debts in taking a loan with Bank Of Scotland for £14,200. At the time 2004, I was not fluent English speaker and a s I am French, it is not working the same way in France.

Few months ago, my friend introduced to this site and I have started to check my finances (Credit crunch impact).
Checking my unsecured loan contract I have noticed the lines below:
Cash Loan £14,200
Add: total charge for credit for cash loan £4284.56
Insurance loan (Cash price of insurance) £3471.74
Add Total charge for credit for insurance loan £1047.70
Total amount you pay £23004.00

My first question is this £4519.44 Insurance loan plus credit is PPI?
If this is the case, I have a credit card with BOS and can they ask me to pay the balance if I claim for the PPI?

Hope you can help me.

Thank you for your help

Hi Cheddar,

the £3471.74 is the PPI but you can also caliam back any interest paid on the PPI i.e. £1047 no they can't make you pay it of credit card unless you are in arrears... p.s. check you are not paying PPI on credit card as you can claim that back too

lippygirl1977

Hi all!
Just wanted to share some good news!
I had applied to Halifax on 30 November 2008 for a refund of PPI which was incorporated on a 10 grand loan I had taken out in 2003. I cleared the loan after 30 months (was meant to be paid over a period of 80 months) and never thought anything of the final payment which was just 300 short of ten grand (after paying £210 per month over 30 months). After reading on this site about reclaiming PPI, i found I had kept some of the paperwork so decided to fill out the template letter from here and sent it off!
First letter back was acknowledging my complaint and that they would be in touch within 8 weeks as per FSA regulations.
However I had another letter 1 week later stating that my complaint was being addressed and they agreed that I was due a refund and stated what I was due. I also asked for 8% on top of this and they agreed to that too!
So in total my refund totalled £3,129.80 and the cheque for this arrived just before new year so needless to say I celebrated in style! So from start to finish of my complaint took less than 4 weeks! RESULT!
I am recommending everyone to check back on any loans with PPI and get sending in those template letters and you never know what you will get!
Thanks Martin and Co for the advice and templates which made everything so easy to do!
:j

jadest

lippygirl1977 wrote: »

Hi all!
Just wanted to share some good news!
I had applied to Halifax on 30 November 2008 for a refund of PPI which was incorporated on a 10 grand loan I had taken out in 2003. I cleared the loan after 30 months (was meant to be paid over a period of 80 months) and never thought anything of the final payment which was just 300 short of ten grand (after paying £210 per month over 30 months). After reading on this site about reclaiming PPI, i found I had kept some of the paperwork so decided to fill out the template letter from here and sent it off!
First letter back was acknowledging my complaint and that they would be in touch within 8 weeks as per FSA regulations.
However I had another letter 1 week later stating that my complaint was being addressed and they agreed that I was due a refund and stated what I was due. I also asked for 8% on top of this and they agreed to that too!
So in total my refund totalled £3,129.80 and the cheque for this arrived just before new year so needless to say I celebrated in style! So from start to finish of my complaint took less than 4 weeks! RESULT!
I am recommending everyone to check back on any loans with PPI and get sending in those template letters and you never know what you will get!
Thanks Martin and Co for the advice and templates which made everything so easy to do!
:j

Congrates lets hope more poeple get there money refunded...:beer: