PPI Reclaiming Discussion part 4

di3004

amersall wrote: »

thanks di, do you think i am right about the ppi policy not being cancelled and it can still be claimed on? as it is not a mis sell as cap one have said it isnt, i think this will work very much in favour of the poster, if the ppi is paid back with the offer money then the 5 year claim can be claimed on as there was no mis sell and the policy is not cancelled.My fear is fp will try to cancel the policy as i wouldnt put it past them:mad: hope the poster gives them what for if they try to cancel this, i would ring fos if fp try to go this route

Hi amersall and yes I do think your right here, I have read the same thing elsewhere and it should be the same for anyone.

Great info and advice you have given, well done.:TXX

amersall

amersall wrote: »

thanks di, do you think i am right about the ppi policy not being cancelled and it can still be claimed on? as it is not a mis sell as cap one have said it isnt, i think this will work very much in favour of the poster, if the ppi is paid back with the offer money then the 5 year claim can be claimed on as there was no mis sell and the policy is not cancelled.My fear is fp will try to cancel the policy as i wouldnt put it past them:mad: hope the poster gives them what for if they try to cancel this, i would ring fos if fp try to go this route

just re read original post, the ins will be cancelled by cap one doh, if i had a brain i would be dangerous :rotfl: but i would still go for payment reduced by fp, if the policy was not mis sold though, it (in my eyes any way) should not be cancelled?

di3004

amersall wrote: »

just re read original post, the ins will be cancelled by cap one doh, if i had a brain i would be dangerous :rotfl: but i would still go for payment reduced by fp, if the policy was not mis sold though, it (in my eyes any way) should not be cancelled?

Oops missed that part too, oh dear........:rotfl:lots to read.:D

But yeah I do agree with you.;)

WillMcK

Just wanted to give you all some hope on reclaiming as I just got my redress letter through from BoS. In which they say that not only are they paying it all back plus interest, but they have paid of the full remaining balance of my loan for me. Which equates to about £700 in good will!

I knew I banked with them for some good reasons...

di3004

WillMcK wrote: »

Just wanted to give you all some hope on reclaiming as I just got my redress letter through from BoS. In which they say that not only are they paying it all back plus interest, but they have paid of the full remaining balance of my loan for me. Which equates to about £700 in good will!

I knew I banked with them for some good reasons...

Thanks for posting, this is fab, well done to you and Congratulations.
:T:beer::j

SAJ0427

marshallka wrote: »

How much was your original PPI added the agreement? Also how long was the agreement over and how much were the repayments etc (broken down). In fact if you give details of the loan agreement somone can perhaps take a look to see if they are redressing you for the whole amount that "would" be due also if you actually paid nowhere near that amount?

Thanks marshallka and amershall,

I called FP yesterday to find out what was o/s on loan and PPI. They said they can only send me settlement letter in writing within 7 days but it will not be split between PPI and Loan. They do not distinguish between the 2 as PPI is added to loan so they only consider it all as a loan.

Details:

March 2006 / first payment May 2006
Loan 88,000 / 798 monthly
PPI 21,551 / 195 monthly
Total 109,551 / 993 monthly (currently we are paying 1,040 monthly)

I understand when you say "the ppi only covers you for 5 years and you pay it back with interest over the term of the loan" however looking at the loan agreement it does state this on the terms & cond that insurance will incur interest over term of the loan so can we still go for mis-sell if we had the information to hand at point of signing contract?

With regards to accepting the offer, wouldn't we be better off rejecting this and keeping our cover until March 2011 (after no claims for 5 years) and get the full 21K back. If we take the 21K next year can we still push for mis-sell with the FOS.

I am trying to get a breakdown of the offer but haven't been able to contact Denise Wilmot who made the offer.

Thanks again for your advice, it has been extremely helpful :-)

lucieloo

hi agin all, i have a ppi claim with the fos at the minute and its with the one and only firstplus. my question is i have had to pursue the insurer as my broker was not overed by gisc and i was wondering if i didnt win this ppi claim could i go for unfair rebate>? and if i did who would i pursue with? firstplus? or would it be again the insurer?

lucieloo

SAJ0427 wrote: »

Thanks marshallka and amershall,

I called FP yesterday to find out what was o/s on loan and PPI. They said they can only send me settlement letter in writing within 7 days but it will not be split between PPI and Loan. They do not distinguish between the 2 as PPI is added to loan so they only consider it all as a loan.

Details:

March 2006 / first payment May 2006
Loan 88,000 / 798 monthly
PPI 21,551 / 195 monthly
Total 109,551 / 993 monthly (currently we are paying 1,040 monthly)

I understand when you say "the ppi only covers you for 5 years and you pay it back with interest over the term of the loan" however looking at the loan agreement it does state this on the terms & cond that insurance will incur interest over term of the loan so can we still go for mis-sell if we had the information to hand at point of signing contract?

With regards to accepting the offer, wouldn't we be better off rejecting this and keeping our cover until March 2011 (after no claims for 5 years) and get the full 21K back. If we take the 21K next year can we still push for mis-sell with the FOS.

I am trying to get a breakdown of the offer but haven't been able to contact Denise Wilmot who made the offer.

Thanks again for your advice, it has been extremely helpful :-)

hi i have denise wilmots direct number 01158433792 hope this helps

robbedofmymoney

SAJ0427 wrote: »

Thanks marshallka and amershall,

I called FP yesterday to find out what was o/s on loan and PPI. They said they can only send me settlement letter in writing within 7 days but it will not be split between PPI and Loan. They do not distinguish between the 2 as PPI is added to loan so they only consider it all as a loan.

Details:

March 2006 / first payment May 2006
Loan 88,000 / 798 monthly
PPI 21,551 / 195 monthly
Total 109,551 / 993 monthly (currently we are paying 1,040 monthly)

I understand when you say "the ppi only covers you for 5 years and you pay it back with interest over the term of the loan" however looking at the loan agreement it does state this on the terms & cond that insurance will incur interest over term of the loan so can we still go for mis-sell if we had the information to hand at point of signing contract?

With regards to accepting the offer, wouldn't we be better off rejecting this and keeping our cover until March 2011 (after no claims for 5 years) and get the full 21K back. If we take the 21K next year can we still push for mis-sell with the FOS.

I am trying to get a breakdown of the offer but haven't been able to contact Denise Wilmot who made the offer.

Thanks again for your advice, it has been extremely helpful :-)

hi,
how long is the loan to run for

cheers

marshallka

amersall wrote: »

thanks di, do you think i am right about the ppi policy not being cancelled and it can still be claimed on? as it is not a mis sell as cap one have said it isnt, i think this will work very much in favour of the poster, if the ppi is paid back with the offer money then the 5 year claim can be claimed on as there was no mis sell and the policy is not cancelled.My fear is fp will try to cancel the policy as i wouldnt put it past them:mad: hope the poster gives them what for if they try to cancel this, i would ring fos if fp try to go this route

I would not put it past them either Amersall. I wonder how that would look in a complaint and how FOS would view it? Firstplus seem to have their own laws anyway so probably it will get overlooked if they do.