PPI Reclaiming Discussion part 4

di3004

gevans wrote: »

At end of Jan I read Martin`s article on reclaiming PPI`s in News of World and decided to give it a go. [Took out £10,000 loan with A&L in May 2001 over 60 mths & had been told `no PPI no loan` so agreed to PPI.] Couldn`t find original loan paperwork at first so wrote to A&L giving as much info as poss. They replied telling me they had no trace of my loan details.
Then found original paperwork re: loan and PPI. Sent first template letter & gave A&L a week`s leeway on deadline to reply. No reply. Sent 2nd template letter, same as, no reply.
Printed and filled out Ombudsman Claim form from this website. I then got letter from A&L acknowledging my PPI claim. A couple of days later received acknowledgement from Ombudsman and letter from A&L offering full refund of PPI plus the 8% interest.
My total PPI premiums had cost £2210.40. A&L offered a full refund of this plus £1142.04 in interest which comes to £3352.44. A&L did not even dispute my claim but informed that the responsibility for my loan has since been transferred to Abbey National.
Couldn`t believe how easy it had all been. Since this amount was much more than I had expected I replied to them and signed the acceptance agreement.
Await cheque in next 2 weeks & have written to Ombudsman to inform of my success & cancel my claim with them.

THANK YOU SO MUCH MARTIN XXX

I now plan to make a claim for my friend whose loan and PPI details mirror my own circumstances.:j:j

Fantastic :T:j, well done and Congratulations :beer:
Also good luck with your friend's as well.;)

Rockbird_2

Hi there

I have just started the process of reclaiming PPI from my A&L credit card (although the bills are from MBNA, which is a bit confusing...). I took the credit card loan out in around 2007, when I was offered a 0% rate for a year, but have not been able to clear it. It is £6,577 and the payments I'm making, which are the minimum or just above minimum payments, are only clearing about £20 a month off it. I don't remember actually speaking to anyone, I just got a card and used it to make some big purchases for a new business start-up, so I would argue that I was unaware of PPI, or at least, certainly not given any information about it.

I have just taken step 1 and written to the A&L to ask for details of the insurance (as per step 1), which I sent by Recorded Delivery letter on Friday 7th May.

However, I have another monthly instalment to pay within the next 2 days, which has £52.51 Payment Protection Cover included on it, and I was wondering if I could pay the minimum payment minus the Payment Protection, or whether I should still pay it and contact the Customer Services team to request it be taken of in future.

Any help would be much appreciated!

di3004

Rockbird wrote: »

Hi there

I have just started the process of reclaiming PPI from my A&L credit card (although the bills are from MBNA, which is a bit confusing...). I took the credit card loan out in around 2007, when I was offered a 0% rate for a year, but have not been able to clear it. It is £6,577 and the payments I'm making, which are the minimum or just above minimum payments, are only clearing about £20 a month off it. I don't remember actually speaking to anyone, I just got a card and used it to make some big purchases for a new business start-up, so I would argue that I was unaware of PPI, or at least, certainly not given any information about it.

I have just taken step 1 and written to the A&L to ask for details of the insurance (as per step 1), which I sent by Recorded Delivery letter on Friday 7th May.

However, I have another monthly instalment to pay within the next 2 days, which has £52.51 Payment Protection Cover included on it, and I was wondering if I could pay the minimum payment minus the Payment Protection, or whether I should still pay it and contact the Customer Services team to request it be taken of in future.

Any help would be much appreciated!

Hi & welcome

Wishing you luck with this.

Did you send them the stage one questionnaire or a letter?
As shown on Martin's guidelines of reclaiming.

The questionnaires are recently new and issued by the FOS, and are said to save some time, also keep copies in case you have to refer to this later on for any reason, such as if you decide to want to go as far as the FOS, you then have a copy to enclose to them.

Not everyone are aware of the new questionnaires, so if its a letter you done instead that is still okay, I just thought I should mention it just in case, they should still investigate by 8 weeks they have.

If there is a payment due in about 2 days, I am not sure if they would have cancelled quite yet, if its only recently you sent your letter, but if they have taken the ppi, you should therefore receive this back within the refund if successful and the next time its due, they would have cancelled by then I would have thought, especially if its what you requested they do.

Good luck, please keep us posted.;)

robbedofmymoney

Rockbird wrote: »

Hi there

I have just started the process of reclaiming PPI from my A&L credit card (although the bills are from MBNA, which is a bit confusing...). I took the credit card loan out in around 2007, when I was offered a 0% rate for a year, but have not been able to clear it. It is £6,577 and the payments I'm making, which are the minimum or just above minimum payments, are only clearing about £20 a month off it. I don't remember actually speaking to anyone, I just got a card and used it to make some big purchases for a new business start-up, so I would argue that I was unaware of PPI, or at least, certainly not given any information about it.

I have just taken step 1 and written to the A&L to ask for details of the insurance (as per step 1), which I sent by Recorded Delivery letter on Friday 7th May.

However, I have another monthly instalment to pay within the next 2 days, which has £52.51 Payment Protection Cover included on it, and I was wondering if I could pay the minimum payment minus the Payment Protection, or whether I should still pay it and contact the Customer Services team to request it be taken of in future.

Any help would be much appreciated!

you will need to pay it other wise you will incur charges,

even after you cancel your credit card ppi your payments will not go down as the minimum payment is a percentage of the total debt. so until they remove all the premiums and interest associated with them from your account (providing you win your case) you will still be paying £70 odd per month.

sorry to bring the bad news, but this is what will happen

Rockbird_2

Hi Di

Thanks for your reply.

Actually, since posting the original this morning, I've had quite an eventful time!

I had received a letter from MBNA telling me about increased interest rates, with an opt-out option, so I looked further into this website about that, and have since contacted the customer services to ask them for an explanation and to ask that the rates not be increased. I was given the Customer Advocate Office contact details to write to, and used the template provided to write to them to complain and to request the reasons for the interest increase. During the course of the conversation about that, I mentioned the PPI and was transferred to an insurance agent, whom I told that I would like the PPI to be stopped and to re-claim the past payments.

She went through the terms of the PPI cover, none of which apply to me, and then agreed to stop the PPI. However, I needed to give a month's notice, so the next instalment will still include the PPI, but they should stop from June.

I found out (because I didn't realise!) that I had had PPI since 1990, which must have been around when I applied for my credit card and I hadn't been using it for some time. I only used my card in around 2007 to make big purchases in connection with starting a new business. I had been offered a 0% interest rate, so used it! No one contacted me at all regarding the PPI and I just assumed it was part of it. I would have thought that there should or would be some sort of review if it had been dormant for some time, but that was not the case, it appears.

Anyway, I've done the questionnaire and sent that off in the same envelope as the letter requesting my interest rates are not hiked up! I just hope they sort it out quicker than the 8 or so weeks they have!

I was interested in your reply saying that I would still be paying '£70 odd a month', as my minimum payments are currently £187-odd!

I will keep you posted and hope to bring good luck!!!

di3004

Rockbird wrote: »

Hi Di

Thanks for your reply.

Actually, since posting the original this morning, I've had quite an eventful time!

I had received a letter from MBNA telling me about increased interest rates, with an opt-out option, so I looked further into this website about that, and have since contacted the customer services to ask them for an explanation and to ask that the rates not be increased. I was given the Customer Advocate Office contact details to write to, and used the template provided to write to them to complain and to request the reasons for the interest increase. During the course of the conversation about that, I mentioned the PPI and was transferred to an insurance agent, whom I told that I would like the PPI to be stopped and to re-claim the past payments.

She went through the terms of the PPI cover, none of which apply to me, and then agreed to stop the PPI. However, I needed to give a month's notice, so the next instalment will still include the PPI, but they should stop from June.

I found out (because I didn't realise!) that I had had PPI since 1990, which must have been around when I applied for my credit card and I hadn't been using it for some time. I only used my card in around 2007 to make big purchases in connection with starting a new business. I had been offered a 0% interest rate, so used it! No one contacted me at all regarding the PPI and I just assumed it was part of it. I would have thought that there should or would be some sort of review if it had been dormant for some time, but that was not the case, it appears.

Anyway, I've done the questionnaire and sent that off in the same envelope as the letter requesting my interest rates are not hiked up! I just hope they sort it out quicker than the 8 or so weeks they have!

I was interested in your reply saying that I would still be paying '£70 odd a month', as my minimum payments are currently £187-odd!

I will keep you posted and hope to bring good luck!!!

Hi there

And thank you for your update on this.

Everything crossed for you, and we look forward to hearing the outcome of this and hope its a positive one.;)

naominaz

hi can anyone help me in some advice please!

i sent a letter to llyods tsb about missold ppi. they asked me if i had a job and could repay i told them i had been in a job for two never had a day off sick and still live at home with my parents and at urgent if there was any they could help me i also get a cash sum of £20000 from work if i die and they told me i was risky to accept without ppi due to financial difficulties i felt i should have taken it!
i sent a complait letter they responded with rejection but a sum of £243 of a good will gesture to go towards my repayment of loan. i didn't add in my letter as i was going to put in the second that i phoned llyods insurance loans protected to cancel my insurance, they then told me i would have to retake another loan at a higher apr to pay my other loan and remove my ppi! i am not sure what to do now whether i should accept their offer or send another rejecting their on my terms i have paid £698 in total on the loan i had and they only offer £243 is it really a goodwill gesture or are they just trying to get rid of my complaint with a settlement.

thanks naomi

robbedofmymoney

rockbird

I was interested in your reply saying that I would still be paying '£70 odd a month', as my minimum payments are currently £187-odd!

it'll be £187 then. i must have mis-read the numbers on your post.

well done on geting hte other bits sorted out. and good luck with your claim

amersall

naominaz wrote: »

hi can anyone help me in some advice please!

i sent a letter to llyods tsb about missold ppi. they asked me if i had a job and could repay i told them i had been in a job for two never had a day off sick and still live at home with my parents and at urgent if there was any they could help me i also get a cash sum of £20000 from work if i die and they told me i was risky to accept without ppi due to financial difficulties i felt i should have taken it!
i sent a complait letter they responded with rejection but a sum of £243 of a good will gesture to go towards my repayment of loan. i didn't add in my letter as i was going to put in the second that i phoned llyods insurance loans protected to cancel my insurance, they then told me i would have to retake another loan at a higher apr to pay my other loan and remove my ppi! i am not sure what to do now whether i should accept their offer or send another rejecting their on my terms i have paid £698 in total on the loan i had and they only offer £243 is it really a goodwill gesture or are they just trying to get rid of my complaint with a settlement.

thanks naomi

hi there,what was the ppi you paid each month how long was this over/ this may be a fob off, just hang fire and you will get all the help you need on here, if you win mis sell you have to have the loan put back to original term and apr, if they cancel ppi you will most likely end up paying a higher apr

naominaz

paid £17.53 over 60 month for ppi! also tried calling today about when i first enquired about cancelling my ppi which they told me i had to take another loan he told me it was a year before when i first sent off my complait letter he said it was never sent back would i like another form to take the loan out again! so in a way they are trying to mis sell me another loan!

thanks for your advice