PPI Reclaiming Discussion part 4

di3004

amersall wrote: »

hi di, keep hold of it, wait till they ask you for it :D make them wait:cool::cool::cool: like you have;)

Yeah good point made LOL :rotfl::rotfl::T:T, they made us wait long enough "what goes round comes round" LOL :rotfl::rotfl::DXX

lex1ngton

hello, hopefully i am putting my question in the right place,

been sent a final letter today from barclays, had a loan of £25,000 and a ppi to go with it, costing £8283.94, i put in a claim for a ppi refund etc - and it has been up held, (so they are paying it back) however my loan has been passed to the barclays debt recovery unit about 2 years ago now and i have been paying just £1.00 a month as a nominal paymnet - (i am in dispute with them, in my eyes anyway) they calculated the repaymnet as
ppi premium £8283.94,
ppi interst paid £994.93
minus ppi paymnets reversed £1989.80

and they then said as the loan is in debt recovery they have sent a payment of £7289.07 to reduce the outstanding debt and a cheque to me for the reverse paymets with 8% statutory interest giving a cheque to me of £2129.09,

my question is this - are they allowed to take off £7289.07 and put it back against the debt ? - surely this is being like a preferred person ? - i have other debts that i owe surely i should have the money and then share it equally with the all the other people i owe money to equally - isnt it unfair on the other people i owe money to ?
can they do this ?
thank you
Lexington ps - if i have put this question in the wrong place please move it to wgehre it should be mr administrator.

di3004

lex1ngton wrote: »

hello, hopefully i am putting my question in the right place,

been sent a final letter today from barclays, had a loan of £25,000 and a ppi to go with it, costing £8283.94, i put in a claim for a ppi refund etc - and it has been up held, (so they are paying it back) however my loan has been passed to the barclays debt recovery unit about 2 years ago now and i have been paying just £1.00 a month as a nominal paymnet - (i am in dispute with them, in my eyes anyway) they calculated the repaymnet as
ppi premium £8283.94,
ppi interst paid £994.93
minus ppi paymnets reversed £1989.80

and they then said as the loan is in debt recovery they have sent a payment of £7289.07 to reduce the outstanding debt and a cheque to me for the reverse paymets with 8% statutory interest giving a cheque to me of £2129.09,

my question is this - are they allowed to take off £7289.07 and put it back against the debt ? - surely this is being like a preferred person ? - i have other debts that i owe surely i should have the money and then share it equally with the all the other people i owe money to equally - isnt it unfair on the other people i owe money to ?
can they do this ?
thank you
Lexington ps - if i have put this question in the wrong place please move it to wgehre it should be mr administrator.

Hi and welcome.

And Well done on your success.:beer:

Right, even though they do have a right to do this, some to what I know have have wrote to argue on this, your debt was not helped by being mis sold the PPI in the first place and have made the debt worse...

You could write that you have already been deprived of your money and believe you should have a choice on how you spend it, such other other debts, or sharing it between all debts etc.

You could also post about this on the debtfreewannabe thread to ask if others who have made a successful PPI reclaim, on how they dealt with this matter.
http://forums.moneysavingexpert.com/forumdisplay.html?f=76

Hope this helps, good luck with this.;)

Gill13

Hello everyone I wonder if anyone can help. I have looked through the various pages but can't see an answer to this query.

My mother was 65+ when she took a loan with LloydsTsb. They advised her at the time that she had to have PPI or she would not be allowed the loan. She did/does not work. The PPI covers her for life cover,critical illness and hospitalisation cover. But she could have got a better deal by getting her own policy.

In anyone's experience does this appear to be grounds for claiming back the PPI?

Lloydstsb have said she has no case.

morice

lender paragon finance

I have recently sent a request to claim back ppi which was sold as part of the loan i took out for £17,000 over 10 years. I was told it was loan that offered cash back after 5 years but only with the ppi. i have sent the request letter to paragon finance who have replied to me saying that because i used a broker which i wasnt aware i did, that they are unable to comment if i was mis-sold the product. now im unsure of what to do next.
Do i send the next letter from martins site to paragon as they are the company who lent the monay and take my direct debit each month or do i find out who the broker is and start the process from the beginning.

can anybody point me in the right direction please ??

di3004

Gill13 wrote: »

Hello everyone I wonder if anyone can help. I have looked through the various pages but can't see an answer to this query.

My mother was 65+ when she took a loan with LloydsTsb. They advised her at the time that she had to have PPI or she would not be allowed the loan. She did/does not work. The PPI covers her for life cover,critical illness and hospitalisation cover. But she could have got a better deal by getting her own policy.

In anyone's experience does this appear to be grounds for claiming back the PPI?

Lloydstsb have said she has no case.

Hi and welcome.

As far as I can see your mother has a strong case here, she should not have been sold the PPI as she would not have been eligible to make a claim, due to her age.

So what you need to do here is write to the main insurance dept LLoyds and request a refund, make sure they refund the whole lot in your mums favour and not an offer, like I said above this is a strong case.

They have 8 weeks in full to respond, keep at them if you have to until they issue the final response or until they uphold, in the final decision they should enclose details of the financial ombudsman service (FOS).

I would not worry about writing out the amounts, they must or should provide them to you if successful, or you request they send a detailed breakdown, to make sure nothing is amiss.

Post by recorded delivery for proof of posting.

Here is Martin's link to the procedures of reclaiming........
Check this out:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

There are template letters on the site but personally I think its best to write in your own words, for instance....

"I was told I had to accept the PPI in order to have the loan", so was pressurised, where I now realise this policy have been mis sold to you, also for the fact that "I would not have been eligible to make a claim, due to my age of being sold this policy"

(Something along those lines).

You can of course use a template letter to guide you and to make sure nothing is missed, like the 8 weeks they have to investigate and also mention the FOS.

Check this one out here too if you want to....
http://image.guardian.co.uk/sys-files/Money/documents/2007/10/26/PPIreclaim.pdf

Hope this helps, good luck to you mum and I do think this should be a straight forward case, so hopefully LLoyds will uphold this immediately.
Good luck, ask for any further help if required and please let us know how your mum gets on, cheers.;)

Lloyds PPI
Customer Care
Lloyds TSB Insurance
Tredegar Park
Newport
South Wales
NP10 8SB

di3004

morice wrote: »

lender paragon finance

I have recently sent a request to claim back ppi which was sold as part of the loan i took out for £17,000 over 10 years. I was told it was loan that offered cash back after 5 years but only with the ppi. i have sent the request letter to paragon finance who have replied to me saying that because i used a broker which i wasnt aware i did, that they are unable to comment if i was mis-sold the product. now im unsure of what to do next.
Do i send the next letter from martins site to paragon as they are the company who lent the monay and take my direct debit each month or do i find out who the broker is and start the process from the beginning.

can anybody point me in the right direction please ??

Hi and welcome.

That is correct, if a broker was used then you write to them.

So in your case send a reclaim letter to the broker, and enclose the letter from Paragon (A copy), and proceed in the same way as you did with the lender.

If you don't know who the broker was, then I would ring Paragon and ask them for the brokers details and address, they must provide them to you.

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

sharon666

di3004 wrote: »

LLoyds accidentally sent out another cheque of the same payment already received, will get this back off to them now.
Don't want any come-backs LOL.:D;)hi lovely di

DI! THE LLOYDS BANK GIVING MONEY AWAY! LOL, I THINK THEY HAVE HEARD OF YOU HELPING OTHERS ON HERE, AND ARE WANTING YOU TO KEEP THAT CHEQUE, THATS WHAT I THINK, LOL, hope you are well and your family, lloyds bank, giving cheques away who would of throught it, this is so funny, di, keep up the good work, look out for those cheques,xxxxxxdon't give them back! lol
sharon666:A:A:A:A:A

di3004

sharon666 wrote: »

di3004 wrote: »

LLoyds accidentally sent out another cheque of the same payment already received, will get this back off to them now.
Don't want any come-backs LOL.:D;)hi lovely di

DI! THE LLOYDS BANK GIVING MONEY AWAY! LOL, I THINK THEY HAVE HEARD OF YOU HELPING OTHERS ON HERE, AND ARE WANTING YOU TO KEEP THAT CHEQUE, THATS WHAT I THINK, LOL, hope you are well and your family, lloyds bank, giving cheques away who would of throught it, this is so funny, di, keep up the good work, look out for those cheques,xxxxxxdon't give them back! lol
sharon666:A:A:A:A:A

LOL, now that would be something wouldn't it? LMAO :rotfl::rotfl::rotfl:, aww bless you.:A:A:A
Thank you anyway Sharon, and hope your well.;)XXXXXx

campari

Hi amersall and thank you. Ive worked it out and they do owe him money - getting the letter out today and hopefully they will stop calling as he is soooo busy with work and two children to get to school, cooking til 10 and generally a very nice person so hate to see him being treated like this - will let you know what happens