PPI Reclaiming Discussion part 4

di3004

amersall wrote: »

hi everyone. take a look at this and have your say
http://news.bbc.co.uk/1/hi/talking_point/8674876.stm

Wow, great find amersall :T:T:T

RexAbrahams

Hi all,

Am brand new on here and have read how helpful you have been in reclaiming PPI so I am asking for some guidance please.

A while ago now (2005 ish) I was in a financial mess and tried to pay debt off by transferring it to other cards etc. Anyway, the debt spiralled and eventually I went into an IVA in 2007. The IVA is concerning me due to the begative feedback that people have towards them, but if it wasn't for this agreement then I would most certainly have lost my house to pay for the debt!

My issue though is with PPI. I took out a loan for £18,000 with Paragon in February 2005 to pay off existing debts.I believe the company issuing the actual loan however is Loans.UK. With this came a PPI policy for £3060,00. However, this premium was to be paid over the first 5 years of the loan AND accrued interest, so that at the end of 60 months I have paid £5143.68. In the policy it says I get this back in year 10 (out of 12) of the loan, but this seems a bit harsh as I now have no PPI on the loan and was not aware of this at the time! Can i reclaim this money now?

Secondly, I also had PPI on the following credit/store cards which is really hard to calculate as the monthly payment changed according to the balance. Needless to say, most of them were maxed out, so were giving me charges of £20 ish each month until my IVA kicked in. I have PPI with the following: Capital One, JJB, Argos Card and Morgan Stanley. All of the previous accounts were defaulted when I went into the IVA so are no longer 'live'. Can I try to reclaim the PPI I paid on them from 2004-2007?

In advance, I thank all of the hard-working members of this forum and hope you can help a 'newbie' in PPI reclamation.

di3004

RexAbrahams wrote: »

Hi all,

Am brand new on here and have read how helpful you have been in reclaiming PPI so I am asking for some guidance please.

A while ago now (2005 ish) I was in a financial mess and tried to pay debt off by transferring it to other cards etc. Anyway, the debt spiralled and eventually I went into an IVA in 2007. The IVA is concerning me due to the begative feedback that people have towards them, but if it wasn't for this agreement then I would most certainly have lost my house to pay for the debt!

My issue though is with PPI. I took out a loan for £18,000 with Paragon in February 2005 to pay off existing debts.I believe the company issuing the actual loan however is Loans.UK. With this came a PPI policy for £3060,00. However, this premium was to be paid over the first 5 years of the loan AND accrued interest, so that at the end of 60 months I have paid £5143.68. In the policy it says I get this back in year 10 (out of 12) of the loan, but this seems a bit harsh as I now have no PPI on the loan and was not aware of this at the time! Can i reclaim this money now?

Secondly, I also had PPI on the following credit/store cards which is really hard to calculate as the monthly payment changed according to the balance. Needless to say, most of them were maxed out, so were giving me charges of £20 ish each month until my IVA kicked in. I have PPI with the following: Capital One, JJB, Argos Card and Morgan Stanley. All of the previous accounts were defaulted when I went into the IVA so are no longer 'live'. Can I try to reclaim the PPI I paid on them from 2004-2007?

In advance, I thank all of the hard-working members of this forum and hope you can help a 'newbie' in PPI reclamation.

Hi and welcome

Sorry to learn of your issues and hope things are better for you now.

These are very costly policies and are dimly frowned upon, and they have stopped selling them alongside with loans now.

I think you should give it a go, so any ppi reclaiming on any of the accounts you have, do give it a go.

You actually pursue to whom is responsible for settling the finance up.

Complete the FOS questionnaire as seen on link below further down the page as Stage one of reclaiming, these are now used instead of reclaiming letters and the financial ombudsman service (FOS) have recently issued these questionnaires.

Complete and save copies on all the reclaims your pursuing.
They have 8 weeks in full to respond.
Keep at them.

Keep us posted and we shall help you step by step of the way, and post within the post office for proof of delivery.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

It does not matter if the accounts are still active or settled.

Hope this helps, good luck with this.

Di

amersall

di3004 wrote: »

Wow, great find amersall :T:T:T

thanks di, hope this goes ahead with a programme, i for one will be watching with great interest.This will make the wider public more aware of how they have been caught out with all this, and there will be i am sure more complaints to fos, so dont you retire just yet, this site will be more busy than ever with a new wave of people armed with knowledge lol

di3004

amersall wrote: »

thanks di, hope this goes ahead with a programme, i for one will be watching with great interest.This will make the wider public more aware of how they have been caught out with all this, and there will be i am sure more complaints to fos, so dont you retire just yet, this site will be more busy than ever with a new wave of people armed with knowledge lol

LOL, yeah me too, will be watching in great interest.

Me retire? :eek: never LOL........:rotfl::rotfl:, you had better stay as well then.:D:T

amersall

di3004 wrote: »

LOL, yeah me too, will be watching in great interest.

Me retire? :eek: never LOL........:rotfl::rotfl:, you had better stay as well then.:D:T

awe must i :rotfl::rotfl:oh go on then:p:p

di3004

amersall wrote: »

awe must i :rotfl::rotfl:oh go on then:p:p

yes :T:T:T

faith1706

Hi

I have recently sent off for my Credit Card charges (still awaiting a response!). I am now looking in to reclaiming PPI but i was wondering if anyone has had any success in claiming their PPI back with the following companies:

Barclaycard
Capital One
Dorothy Perkins store card
Nat West Loan
HFC Bank - bought a sofa from DFS & the finance is through HFC

Any advice would be really appreciated many thanks

di3004

faith1706 wrote: »

Hi

I have recently sent off for my Credit Card charges (still awaiting a response!). I am now looking in to reclaiming PPI but i was wondering if anyone has had any success in claiming their PPI back with the following companies:

Barclaycard
Capital One
Dorothy Perkins store card
Nat West Loan
HFC Bank - bought a sofa from DFS & the finance is through HFC

Any advice would be really appreciated many thanks

Hello there

Going through the success thread - although its a very long one, most are successful, and I do expect all the above you stated many have been successful and will post up with their own experience for you.

For whatever reasons you have for being mis sold, then complete the Questionnaire (this is no instead of template letters), the financial ombudsman service (FOS) have recently issued these questionnaires and you will come across them further down the page as Stage one of reclaiming.
Complete and keep copies.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

They have 8 weeks in full to respond with a decision.

Keep at them if you have to and post within the post office for proof of delivery.

You actually send each questionnaire to whoever set up the finance up for you from the start.
You have quite some reclaiming to do then?;) lol.

Good luck and please keep us posted, cheers.

Di

Geoffro

Hello, I took out a loan with Natwest back in 2001/2002. I recently read your article about reclaiming PPI if missold so I used your first template and have received an acknowledgement letter and one telling me it may take longer than a month to fully investigate my case. I know I was told over the phone that I had to take out the PPI policy to get the loan but was wondering if word of mouth would be sufficient if I had to go to the FOS. I fully intend to go there anyway regardless but was just wondering as its down to my word against theirs at the end of the day.