PPI Reclaiming Discussion part 4

di3004

lennygambo wrote: »

Hi Guys

Am new to this and just wondering if anyone can give me some advice

Took a loan out in 2006

Total = £16874.04

Been repaying £281.23 each and every month since. I have something like £4200.00 left to pay so 15 months of payments left

I am more than sure I have all the relevant paper work at home

Can someone give me some ideas or best places to go with regards to claiming PPI

Many thanks

Hi and welcome.

For you to reclaim PPI, you don't need to write down the amounts, if successful they should supply the breakdown to you, or you can request for them.

However, what you would normally do is write to the ones who set up the finance, with the reasons you have for being mis sold, they have 8 weeks in full to respond, keep at them, if they don't resolve to your satisfaction you should get the opportunity to complain to the Financial ombudsman service (FOS) who are a free service to use to take your complaint further.

Check on Martin's guidelines of reclaiming here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
And also check out this template letter as well if you want to, to use as a guide, with your own words if you can and your reasons, make sure you don't miss anything about the 8 weeks they have and the FOS.
http://image.guardian.co.uk/sys-files/Money/documents/2007/10/26/PPIreclaim.pdf

If you check on Martin's link I posted above of the loan insurance (first one), I believe there may also be a questionnaire made out from the FOS, check the details on there too.

Good luck, I also suggest that you post by recorded delivery.

Please keep us posted and ask for help when required, fingers crossed.;)

lennygambo

Thanks for your help

I will print out the relevant templates and send off im my own words

I forgot more information just to add to this

I previously had a loan with them (HSBC)so this £16K loan was to consolidate an existing loan and also other debts i had at the time i think it was a maxed out credit card

Is it best to do it the way you suggested in your first reply or would it cost me a crazy fee if someone else was to look into this for me, a friend mentioned he got monies back from different credit cards but the company that looked after it all took 25%

di3004

lennygambo wrote: »

Thanks for your help

I will print out the relevant templates and send off im my own words

I forgot more information just to add to this

I previously had a loan with them (HSBC)so this £16K loan was to consolidate an existing loan and also other debts i had at the time i think it was a maxed out credit card

Is it best to do it the way you suggested in your first reply or would it cost me a crazy fee if someone else was to look into this for me, a friend mentioned he got monies back from different credit cards but the company that looked after it all took 25%

Hi there

Personally I would have a go yourself, if you read further down the forums, you will find many have had some bad experienced and issues which are still ongoing now, and at least this way you get to keep all what is rightfully yours.;)

Any of the finance you have been sold on then give it a go, if you had say 2 or 3 loans from the same bank, and the reasons were the same for being mis sold, then you can write about all of them on one letter, just remember to enclose the account numbers for each one.

And for credit cards, deal with these separately to the loans.

If you have consolidated with the same bank to take out a further loan, then they will recalculate on each one.;)

Hope this helps.

smitchy73

Has anyone heard anything about the re-opening of cases initiated by the FSA ruling and introduction of the newly passed Finance Bill earlier this month, I tried to get some clarification from them today to no avail.
I don't know whether to try writing to the lender to see if they will do this themselves after being instigated by the FSA, or to write to them to try to get it going myself.

mojoparrot

Hi I am new to this thread and could do with a little help on a complex ppi claim.:o:o

Early 2009 I tried to claim back PPi on a first plus loan that was settled some time ago (2005/6). I was alerted to the ppi on this account by my financial advisor who also advised me to take it to his side company cartel who would chase the ppi through their solicitors. The ppi was a one off payment of around £6000.
I was a little sceptical as there was an up front £500 fee. I tried to claim the ppi using the letters on this website. After some correspondance I discovered another agency called central capital were the ones dealing with the claim, they wrote back to me sending me an audio disc and said that I had agreed to the ppi on the claim. If i had I didnt know about it till the financial advisor told me last year!
After that knock back I agreed to let Cartel take the claim and duly paid my fee. After 12 months Cartel and its associated solicitors have gone belly up and this week I received my file.
Looking through it the solicitors had made a transcript of the conversations from the disc and noticed that in over 2 hours of conversation 2 minutes were devoted to the ppi. I had also mentioned before that that I had alternative cover. There was also referece to a secret comisssion.
It seems that in Feb before the closure of the solicitors a letter was sent to first plus prior to insigating court action outlining the reasons why the ppi had been missold. I called first plus today who told me that they had received the letter but that it was central capital who should be accountable. They had not forwarded the letter to central. Looking through the correspondance in the file it looks like central capital had been contacted ( not with this final letter) and had directed the solicitor to first plus.
I'm sure I should be able to pick this up but how do I know who I should contact? also if this goes to court what should i do.:o:o

Another claims management company cold called me specifically about this case. The person | spoke to was a former legal worker for cartels solicitors and even knew the person that had been working on the case back in Nov 09. This person was very helpful and actually did the transcript of the disc. I know they have identified me coz this is a no brainer for them, but can I do it myself?!!:eek::eek:

Any advice would be most gratefully appreciated. I am swimming under debt and this ppi could pay off some of it and get me back on track.:D

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

di3004

mojoparrot wrote: »

Hi I am new to this thread and could do with a little help on a complex ppi claim.:o:o

Early 2009 I tried to claim back PPi on a first plus loan that was settled some time ago (2005/6). I was alerted to the ppi on this account by my financial advisor who also advised me to take it to his side company cartel who would chase the ppi through their solicitors. The ppi was a one off payment of around £6000.
I was a little sceptical as there was an up front £500 fee. I tried to claim the ppi using the letters on this website. After some correspondance I discovered another agency called central capital were the ones dealing with the claim, they wrote back to me sending me an audio disc and said that I had agreed to the ppi on the claim. If i had I didnt know about it till the financial advisor told me last year!
After that knock back I agreed to let Cartel take the claim and duly paid my fee. After 12 months Cartel and its associated solicitors have gone belly up and this week I received my file.
Looking through it the solicitors had made a transcript of the conversations from the disc and noticed that in over 2 hours of conversation 2 minutes were devoted to the ppi. I had also mentioned before that that I had alternative cover. There was also referece to a secret comisssion.
It seems that in Feb before the closure of the solicitors a letter was sent to first plus prior to insigating court action outlining the reasons why the ppi had been missold. I called first plus today who told me that they had received the letter but that it was central capital who should be accountable. They had not forwarded the letter to central. Looking through the correspondance in the file it looks like central capital had been contacted ( not with this final letter) and had directed the solicitor to first plus.
I'm sure I should be able to pick this up but how do I know who I should contact? also if this goes to court what should i do.:o:o

Another claims management company cold called me specifically about this case. The person | spoke to was a former legal worker for cartels solicitors and even knew the person that had been working on the case back in Nov 09. This person was very helpful and actually did the transcript of the disc. I know they have identified me coz this is a no brainer for them, but can I do it myself?!!:eek::eek:

Any advice would be most gratefully appreciated. I am swimming under debt and this ppi could pay off some of it and get me back on track.:D

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

Hello and welcome to this thread.:D

I think by having a go yourself is defo the best option, as it seems all claims companies are having issues and I withdrawn from one last year "thank goodness".
You may find that claims companies will go for the actual lender, where in fact on a PPI reclaim its the actual broker, so in your case you should therefore pursue this through Central Capital.

So what you need to do if write your letter to reclaim the PPI to Central Capital, who I assume would be these you spoke to on the disc recordings, as they set this up for you.

With the reasons you have for being mis sold, you give them 8 weeks to resolve with a final decision, the final letter should if eligible enclose details of the financial ombudsman service (FOS) with a leaflet of the process of taking your complaint to these, if your not happy with the outcome.

In regards of the secret commissions, this would not be part of the ppi reclaiming, as it seems these claims companies tend to go for this, but I would not go there anymore.
If you get the chance to browse the threads, you will note that many have had problems, and also still waiting 2 years on for success.

When you write to reclaim on the PPI, you do not have to write the amounts down, they should supply these to you if successful, or you can request for them to send them to you.

Check on Martin's guidelines of reclaiming to help you through the procedures of this and also post by recorded delivery for your proof of posting.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

There are templates as well, but the best success that I know of comes from your own words, and of course your reasons you have.
Although there is no harm in using templates for a guide, and make sure nothing is missed, such as the FOS details and the 8 weeks timescale they have to deal with your complaint.

I believe on the above link there is a questionnaire made by the FOS, I have not actually used this, as its quite recent, so check that out and also this here if this helps:
http://image.guardian.co.uk/sys-files/Money/documents/2007/10/26/PPIreclaim.pdf

Good luck, ask for help anytime and please let us know how you get on.;)

jackojet

hello new here ,

finally after a long story of woes with both barclays personal loans and their absolutely appalling mortgage advance we finally got the money !


this money was to pay off my wife's mortgage reserve amount and the rest to pay off my barclayloan !

i took out the loan in 2006 for £24,600 and was told i had to have PPI , in case of redundancy , sickness , disability !

they said that if i had to have it as the loan was unsecured and i could not proceed application without it .

the PPI has cost me £107.55 per month since , with a total of £12,906 over the 120 month term !

my loan repayments were £415.10 per month .

we settled the loan yesterday and told the branch manager that i would be seeking advise on missold , he told me to come to this site !

i could not claim on the loan as took voluntary redundancy or cancel this useless insurance . i would of had to reschedule the loan and expect a new rate of at least 12.5% , the orginal loan was at 8.9% so not worth me changing .

in the end the best option was to pay off loan using mortgage advance , but we started this in Feb and only now have got the money ! , so had to pay 2 more PPI payments in the meantime .

the loan is repaid in full and in the redemption barclays manager refunded one month PPI .

i now want to reclaim the PPI paid as it was not worth the paper written on !

any advise of what to do next greatly appreciated ! thanks in advance to anyone who has a similar experience and knows what to do next .

amersall

mojoparrot wrote: »

Hi I am new to this thread and could do with a little help on a complex ppi claim.:o:o

Early 2009 I tried to claim back PPi on a first plus loan that was settled some time ago (2005/6). I was alerted to the ppi on this account by my financial advisor who also advised me to take it to his side company cartel who would chase the ppi through their solicitors. The ppi was a one off payment of around £6000.
I was a little sceptical as there was an up front £500 fee. I tried to claim the ppi using the letters on this website. After some correspondance I discovered another agency called central capital were the ones dealing with the claim, they wrote back to me sending me an audio disc and said that I had agreed to the ppi on the claim. If i had I didnt know about it till the financial advisor told me last year!
After that knock back I agreed to let Cartel take the claim and duly paid my fee. After 12 months Cartel and its associated solicitors have gone belly up and this week I received my file.
Looking through it the solicitors had made a transcript of the conversations from the disc and noticed that in over 2 hours of conversation 2 minutes were devoted to the ppi. I had also mentioned before that that I had alternative cover. There was also referece to a secret comisssion.
It seems that in Feb before the closure of the solicitors a letter was sent to first plus prior to insigating court action outlining the reasons why the ppi had been missold. I called first plus today who told me that they had received the letter but that it was central capital who should be accountable. They had not forwarded the letter to central. Looking through the correspondance in the file it looks like central capital had been contacted ( not with this final letter) and had directed the solicitor to first plus.
I'm sure I should be able to pick this up but how do I know who I should contact? also if this goes to court what should i do.:o:o

Another claims management company cold called me specifically about this case. The person | spoke to was a former legal worker for cartels solicitors and even knew the person that had been working on the case back in Nov 09. This person was very helpful and actually did the transcript of the disc. I know they have identified me coz this is a no brainer for them, but can I do it myself?!!:eek::eek:

Any advice would be most gratefully appreciated. I am swimming under debt and this ppi could pay off some of it and get me back on track.:D

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

hi there, take a look at this website firstpluscomplaints.co.uk this is a website set up by a great guy to help other fp customers. please go on and take a look.lots of stuff about cartell on there with good advice about what to do next, you will get all the help you need and some!! also di gives good advice so the choice is yours, good luck, also even if you accepted it i bet you you were not told that this ins is put on at the front of the loan, only lasts 5 years and that you will still pay for this with interest for the remaining term. the fos are upholding 99% of these cases with fp. please take a look at the website

amersall

jackojet wrote: »

hello new here ,

finally after a long story of woes with both barclays personal loans and their absolutely appalling mortgage advance we finally got the money !


this money was to pay off my wife's mortgage reserve amount and the rest to pay off my barclayloan !

i took out the loan in 2006 for £24,600 and was told i had to have PPI , in case of redundancy , sickness , disability !

they said that if i had to have it as the loan was unsecured and i could not proceed application without it .

the PPI has cost me £107.55 per month since , with a total of £12,906 over the 120 month term !

my loan repayments were £415.10 per month .

we settled the loan yesterday and told the branch manager that i would be seeking advise on missold , he told me to come to this site !

i could not claim on the loan as took voluntary redundancy or cancel this useless insurance . i would of had to reschedule the loan and expect a new rate of at least 12.5% , the orginal loan was at 8.9% so not worth me changing .

in the end the best option was to pay off loan using mortgage advance , but we started this in Feb and only now have got the money ! , so had to pay 2 more PPI payments in the meantime .

the loan is repaid in full and in the redemption barclays manager refunded one month PPI .

i now want to reclaim the PPI paid as it was not worth the paper written on !

any advise of what to do next greatly appreciated ! thanks in advance to anyone who has a similar experience and knows what to do next .

hi there, send a letter off to barclays for mis sell of the ppi, use the template off this site or put it in your own words, when you get a reply come back on here and you will get all the info you need as to what to do next. good luck

jackojet

thanks , will be writing to Barclays in due course using the template !