PPI Reclaiming Discussion part 4

livylegs

hi guys,

I got a letter from firstplus a few weeks ago saying they were going to look into my complaint about missold ppi and they would have response or a quick update before the 11th Feb, so today I got a letter saying they keeping me updated with the investigation of my complaint and they have now downloaded the telephone calls relevant to this account but have been unable to complete a full review as yet and they do remain committed to resolving my complaint and will contact me again by the 11 March 2009!!!

Do you think this is a stalling tactic or can they do this?

thanks.xxxxx

di3004

livylegs wrote: »

hi guys,

I got a letter from firstplus a few weeks ago saying they were going to look into my complaint about missold ppi and they would have response or a quick update before the 11th Feb, so today I got a letter saying they keeping me updated with the investigation of my complaint and they have now downloaded the telephone calls relevant to this account but have been unable to complete a full review as yet and they do remain committed to resolving my complaint and will contact me again by the 11 March 2009!!!

Do you think this is a stalling tactic or can they do this?

thanks.xxxxx

Hi there hun

Hope your well.

This may be a stalling tactic, or maybe they are just making sure on this by investigating further, however, 8 weeks is ample time here, it may be a good idea at this stage to ring the FOS here, and see what they advise, they may say give them until that stated date, or just to get a complaint form sent in to them (FOS), but ring them, explain what you said above.

Please let us know, in case any help is required, I know that Firstplus are not the easiest to deal with and probably have the highest of complaints to deal with going by how many have complained about them.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm
The telephone number should be on that above link.;)

Good luck.
Di
X

robbie_dee

Hi All

I took out a loan in Feb '06, for £18600 ( 6.14% ) 60 months ( ends 02/11)

I had a statement this monng saying I owe 10760

When I rang to ask what an early settlement was they said £9775 - they would rebate 557 on the PPI and 428 on the loan interest. My PPI was origionally £3700 + £590 interest. SO I thought I would get back 2/5 of this ( about £1700)

Now she says that the payments are heavily loaded so you pay the interest and PPI off at a different rate

I agreed to the PPI but was not told about the waiting, do you think thereis any chance I could reclaim? :huh:

di3004

robbie_dee wrote: »

Hi All

I took out a loan in Feb '06, for £18600 ( 6.14% ) 60 months ( ends 02/11)

I had a statement this monng saying I owe 10760

When I rang to ask what an early settlement was they said £9775 - they would rebate 557 on the PPI and 428 on the loan interest. My PPI was origionally £3700 + £590 interest. SO I thought I would get back 2/5 of this ( about £1700)

Now she says that the payments are heavily loaded so you pay the interest and PPI off at a different rate

I agreed to the PPI but was not told about the waiting, do you think thereis any chance I could reclaim? :huh:

Hi Robbie

I am not too certain on this one to be honest, but even though you accepted this PPI, did they go through the policy with you?
Did they explain this was be added to the loan as one lump sum, I take it this is what they done here, please correct me otherwise.

Even though you accepted this, you may still have rights to reclaim and complain, there are many reasons for mis selling, so maybe its worth check this link out here and maybe others will give their opinions on this as well:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Check through the link and see if any of that occurs to you.

Let us know if you want to, but if you feel you have a case then write to them with your own reasons, they have 8 weeks to get back with a response, another letter maybe required if not successful first time round, or until you exhaust the complaint procedures where a leaflet should be enclosed in the final decision of the financial ombudsman service.

Remember to always post by recorded post to these companies, good luck.

robbie_dee

di3004 wrote: »

Hi Robbie

I am not too certain on this one to be honest, but even though you accepted this PPI, did they go through the policy with you?
Did they explain this was be added to the loan as one lump sum, I take it this is what they done here, please correct me otherwise.

Even though you accepted this, you may still have rights to reclaim and complain, there are many reasons for mis selling, so maybe its worth check this link out here and maybe others will give their opinions on this as well:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Check through the link and see if any of that occurs to you.

Let us know if you want to, but if you feel you have a case then write to them with your own reasons, they have 8 weeks to get back with a response, another letter maybe required if not successful first time round, or until you exhaust the complaint procedures where a leaflet should be enclosed in the final decision of the financial ombudsman service.

Remember to always post by recorded post to these companies, good luck.

I will check through all of this - thanks. Looks like it might be a single premium at first glance, as they have virtually charged me already for 90% of the PPI/PPI interest, 60% into the loan. I will do some homework tonight!
Thanks for your kind reply - Rob

di3004

robbie_dee wrote: »

I will check through all of this - thanks. Looks like it might be a single premium at first glance, as they have virtually charged me already for 90% of the PPI/PPI interest, 60% into the loan. I will do some homework tonight!
Thanks for your kind reply - Rob

Your welcome.
You could possibly have a case here then Rob.;)

Please let us know, that will be great, cheers.

Di

Turboman

robbie_dee wrote: »

Hi All

I took out a loan in Feb '06, for £18600 ( 6.14% ) 60 months ( ends 02/11)

I had a statement this monng saying I owe 10760

When I rang to ask what an early settlement was they said £9775 - they would rebate 557 on the PPI and 428 on the loan interest. My PPI was origionally £3700 + £590 interest. SO I thought I would get back 2/5 of this ( about £1700)

Now she says that the payments are heavily loaded so you pay the interest and PPI off at a different rate

I agreed to the PPI but was not told about the waiting, do you think thereis any chance I could reclaim? :huh:

Hi Robbie

I'll cross check the sums for you tonight--lets make sure of the figures

Post up your Loan Amounts & Premiums--being careful to clarify if main loan amount/Premiums you quote include the PPI Single Premium Loan

Also--have you had much variation in premiums--ie Interest Rate changes.

With any loan by the way--including classic Mortgages--its a fact of life that you are charged interest monthly on the outstanding balance--resulting in most of your payment is paying the interest in the early part of your loan--in the later part of the loan, the inverse happens.

If the loan goes full term--no problem.


Turbo

nee-naw

Just wondered what the members take be would on Marks & Spencers ppi misselling .... YOU RECEIVED A CERTIFICATE WHICH STATED WHAT WAS COVERED ETC., IF YOU FELT THAT YOUR CONDITION WAS NOT COVERED, YOU SHOULD HAVE INFORMED US UPON RECEIPT OF THE CERTIFICATE .... does this mean that I have no recourse? Unfortunately, my water tank burst and all my documents were ruined. When I tried to separate them when wet, they tore, when I dried them, they were as if they were pasted together! They were covered in red dye, and I tried to phone everyone that I could think of to request replacements, but my certificate is not there! Is that an acceptable excuse? Is the onus on me?

RAB123

Hi, it's a very long story but in a nutshell I was miss-sold life insurance by the HSBC, to proceed with my claim I have been asked to get a quote for life insurance from 1994 so they can asses the compensation, I am finding this very difficult as you can imagine, has anyone got any ideas how I can get a quote for Life Insurance from 1994?

RAB

nee-naw

I remember our local radio station doing a programme, on this site where you put in a particular item in whatever year, and they would give you the price and the difference in cost between then and now. Although life insurance is much different as the quote is based on age, health, term of insurance and company that quoted etc. I think it will be difficult to get a quote from then.