PPI Reclaiming Discussion part 4

di3004

LisaLash wrote: »

Hi,

I'm trying to read through the threads to get some information but I'm totally confused by it all!

Basically I took out a loan with Welcome Finance back in 2001 (I was very young and naive then) but I kept getting new loans to clear off the old previous load before was cleared...each time they would put PPI on it (I didn't realise I had a choice). I still have a loan with running with them now but want to try and claim back this PPI. Can I still do this? Also there is so much information on here that I'm not sure where to start. I have all my previous credit agreements with all the information on them.

Thanks for your help. x

Hi and welcome (no pun intended lol)

Right now what you do is pursue to the ones who set this up for you, so if you used a broker they are responsible for selling and setting up the policies for you.

So if you have a few, then go for them all, you will require to complete Questionnaires for each one you want to reclaim on.
These are now instead of template letters, and recently issued by the Financial ombudsman service (FOS), they suggest you send the questionnaire instead of using letters, although you can enclose a cover letter as well if you want to, to give further information if required.

You then keep copies in case you need to refer to them later on.

They have 8 weeks in full to respond.

So basically if you had then 3 or 4 loans and were mis sold PPI for any reason, complete a separate FOS questionnaire.

You will find these on stage one of reclaiming further down the page on link below:

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

So you will require an account number for each one as well.

If you do not have the loan account number for all of them, you can try tracking these down at first by checking old banking statements.
The account numbers should be shown next to the loan monthly repayments.
If your still with the same bank and do online banking, this should allow you to go back maybe 7/8 years, this may vary from one bank to another.

Or another way is to request for a Subject Access Request (SAR), they have 40 days to send all they hold on your account(S), details of loan/ppi etc.
There is a charge of £10 for the SAR, you enclose this by either cheque or postal order payment.
SAR template here:
https://forums.moneysavingexpert.com/discussion/1475553

Hope this helps.

I would also suggest to post by recorded delivery as well, this is your proof of posting.

Good luck and please keep us posted.:)

hosso66

I recently sent a query to GMAC regarding a PPI which was taken out against a loan I took when buying a car on hire purchase. I have received a letter back saying that it is not their responsibilty but with the dealership to whom i took the finance agreement out with, Pentagon Vauxhall. Is this correct?

di3004

hosso66 wrote: »

I recently sent a query to GMAC regarding a PPI which was taken out against a loan I took when buying a car on hire purchase. I have received a letter back saying that it is not their responsibilty but with the dealership to whom i took the finance agreement out with, Pentagon Vauxhall. Is this correct?

Hi there

Yes, you always pursue to whoever set and sold you the finance.

I would therefore send these a copy of the letter you sent GMAC, and also a copy of the letter from these as well to sent to Pentagon, they should take this complaint on.

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

shoe_2

Hi all
Just a update I have had a response from Lloyds TSB, thay have finally gave me a figure more than I was expecting !! I was expecting around £300.00 but I have got £856.31 WOW !!!
However they have said it may take upto 45 days to appear in my account !! Is it really taking this long ?

di3004

shoe wrote: »

Hi all
Just a update I have had a response from Lloyds TSB, thay have finally gave me a figure more than I was expecting !! I was expecting around £300.00 but I have got £856.31 WOW !!!
However they have said it may take upto 45 days to appear in my account !! Is it really taking this long ?

Fantastic, Congratulations! :beer:

With mine it taken 21 working days after they received the acceptance slips, email them and ask if they would be kind enough to refund you earlier than 45 days.
[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]

Good luck.....hope you won't be waiting as long as 45 days.;)

danelliott

hi all, just a quick 1, how long do you think it will be before these financial institutions decide to fight back and try and get a court to put a halt to all this? the reason im asking is because i want to reclaim mine but at the moment ihave far more pressing things that need my attention.

many thanks all

Dan

Rockbird_2

Further to a post I put on about my request for PPI refund, firstly, on 7th May, I sent the template letter asking for all the insurance payments I made (sent with a £1 cheque, which hasn't been cashed yet, to A&L, who my credit card is with, even though MBNA now take payments), then, on 11th May, I wrote to MBNA to re-claim PPI by sending the questionnaire, at the same time as complaining about interest being increased from this month - in the same envelope, because they were to the same department. I had phoned first, to stop further payments of PPI and they told me that I had to give a month's notice, so I will still get PPI on my next statement, but that it would stop thereafter.

I have had one response letter from MBNA, saying that they will reply by 9th June, but I'm not sure if it's about the complaint about increased interest or the PPI re-claim (I guess I'll find out by 9th June!). However, I have not had a single response in any shape or form from A&L since my request for the insurance details going back to whenever. Should I expect at least an acknowledgement by now? Do they have 40 days to even acknowledge receipt? Can anyone advise me on this?

Thank you.

di3004

Rockbird wrote: »

Further to a post I put on about my request for PPI refund, firstly, on 7th May, I sent the template letter asking for all the insurance payments I made (sent with a £1 cheque, which hasn't been cashed yet, to A&L, who my credit card is with, even though MBNA now take payments), then, on 11th May, I wrote to MBNA to re-claim PPI by sending the questionnaire, at the same time as complaining about interest being increased from this month - in the same envelope, because they were to the same department. I had phoned first, to stop further payments of PPI and they told me that I had to give a month's notice, so I will still get PPI on my next statement, but that it would stop thereafter.

I have had one response letter from MBNA, saying that they will reply by 9th June, but I'm not sure if it's about the complaint about increased interest or the PPI re-claim (I guess I'll find out by 9th June!). However, I have not had a single response in any shape or form from A&L since my request for the insurance details going back to whenever. Should I expect at least an acknowledgement by now? Do they have 40 days to even acknowledge receipt? Can anyone advise me on this?

Thank you.

Hi there

In regards of PPI reclaimng, they have 8 weeks in full to respond, if you hear nothing nearer to the time, chase them up for an update.

To request for the agreement, they have 12 days to supply.

And for a SAR (Subject Access Request), they have 40 days to comply.

However, going back to the reclaiming side of it, you are in your rights to complain to the Financial ombudsman service (FOS), if your letter is ignored and you've heard nothing, but I suggest just to chase them up before you go this direction, as they are all over-run by these complaints, and often requires a little extra time.

Good luck though and hope you hear a good result very soon, please keep us posted.;)

amersall

danelliott wrote: »

hi all, just a quick 1, how long do you think it will be before these financial institutions decide to fight back and try and get a court to put a halt to all this? the reason im asking is because i want to reclaim mine but at the moment ihave far more pressing things that need my attention.

many thanks all


Dan

hi there, i would think this will go on for a long time, to be honest for the sake of writing a letter to the companys i would do that and take it from there, i think if at the mo you cant do it then you will be hoodwinked by a cold call from a claims company, and you will probably let them do it, please have a go your self and if you win you keep all of it instead of paying 25% or more to a company, i know it may seem daunting but for the price of a stamp i would give it a go.If you decide to do it you will get all the advice and help you need on here. good luck with whatever you decide to do x who do you need to make a claim with ? as some are excellent with claims and quick

robbedofmymoney

danelliott wrote: »

hi all, just a quick 1, how long do you think it will be before these financial institutions decide to fight back and try and get a court to put a halt to all this? the reason im asking is because i want to reclaim mine but at the moment ihave far more pressing things that need my attention.

many thanks all

Dan

it would be difficult for a bank to take the miss-selling of ppi to court that a judgement would effect everyone as there are so many reasons for miss-selling,

each and every subject will need to have a court success to prevent people from claiming, and of course every single persons complaint has different personal circumstances as well.

there was one case last years involving capital 1 and credit card ppi, capital one lost their case and the whole credit card debt of £8k was wiped off for various reasons.

it would be a very brave bank to risk these type of judgements as if they go against them potentially all debts could be wiped off,

so in my opinion you have plenty of time to do your other things before putting in a claim.

but it is only my opinion