PPI Reclaiming Discussion part 4

vicky35

Hi we are claiming PPI back from northern rock, we had 2 loans and a credit card amounting up to £35,000, these were paid off 2006 from sale of our house. Gladstone brookes (our broker) are in the process of claiming it back for us, it has been about 8 weeks now. We had a call from Gladstone brookes saying they are waiting for a offer letter or a refusal , what does this mean ~ do you think we will get anything back? thanks to anyone with any advice

robbedofmymoney

vicky35 wrote: »

Hi we are claiming PPI back from northern rock, we had 2 loans and a credit card amounting up to £35,000, these were paid off 2006 from sale of our house. Gladstone brookes (our broker) are in the process of claiming it back for us, it has been about 8 weeks now. We had a call from Gladstone brookes saying they are waiting for a offer letter or a refusal , what does this mean ~ do you think we will get anything back? thanks to anyone with any advice

hi,

when a bank or lender recieves a complaint they have 8 weeks to give a final response, this is either an offer or a refusal the ppi was miss-sold,

if they refuse your complaint for a miss-sale then GB will refer your complaint to the FOS to investigate which will take longer.

do you know when your lender recieved your complaint via GB, as this will give you a better idea of timescales/deadlines

vicky35

Hi im not sure but GB have said that Northern rock have sent this letter on monday just gone, to be honest i cant remember if i did pay PPI on any of them , but i think i must of done or else it would nt have gone on this long would it? it all very confusing.

amersall

jjmwanyali wrote: »

hi.

I have protected loan with barclays. i went to the bank to cancel the ppi I failed. 1st they asked me to write a letter to the company to cancel the ppi even though on the terms and condition it states that i can go to branch and cancel.

when i wrote letter through the branch they replied to say i need to go to my branch to cancel it. so this was another trip to the branch again.

My loan is left with 33month it was for 60mnth. So told me they have to reshedule the loan. According to there calculation i was to get £680. So my new monthly payment was reduced from £284 to £259 but the remaining period was increased to 36 month. So i was to pay £259 for 36month instead of 33 month. If you calculate it means they have just refunded me around £48.

284 multply by 33 =9372
259 muliply by 36 =9324

i thought it was suppose to be 259 multiply by 33 =8547
the difference of 825 being my refund

They told me that due to resheduling my interest has increased from 13% to 17% meaning the terms have changed. i did not know all that when i took the loan they did not tell me that if i cancel payment protection your loan interest will increase.

Can help me please am confused

Thank you

john.

hi there, could you have gone mis sell with this? as when you cancel your ppi you have to redo another loan with the interest rate as they charge now, you only get the same term and apr you had if you win mis sell, this depends on when you cancel the ppi amount. i would phone fos on this and get clarification, as you have had a increase in your term and apr for cancelling a product you did not want, good luck with this and keep us posted

Triggles

I have a bit of an odd question. We had a Tesco loan with PPI that we successfully reclaimed the PPI from. The thing is, we had a second top up loan from Tesco that they rolled the original loan into, also with PPI. Both were mis-sold based on the same reasoning (no questions re previous medical problems which meant he wouldn't have been covered, no info given that prior medical problems weren't covered). When we requested reclaim on the PPI from the second loan, we were told that the reason no longer applied as they now DO cover previous medical problems. But they didn't at the time it was sold to us, so aren't we still entitled to reclaim the PPI based on being mis-sold?

Donman

Once again many thanks for taking the time to help di3004. I will check to see if I can find a copy of the application and keep you updated accordingly. You are a star. Thanks again.

amersall

Triggles wrote: »

I have a bit of an odd question. We had a Tesco loan with PPI that we successfully reclaimed the PPI from. The thing is, we had a second top up loan from Tesco that they rolled the original loan into, also with PPI. Both were mis-sold based on the same reasoning (no questions re previous medical problems which meant he wouldn't have been covered, no info given that prior medical problems weren't covered). When we requested reclaim on the PPI from the second loan, we were told that the reason no longer applied as they now DO cover previous medical problems. But they didn't at the time it was sold to us, so aren't we still entitled to reclaim the PPI based on being mis-sold?

hi there, i would look at the terms and conditions of your second loan insurance, then you will know.If they are wrong you can send a letter to them requesting mis sell on this as well.Good luck

Rockbird_2

Hi there

I previously posted about the possibility of my being able to reclaim PPI on my credit card with MBNA/Alliance & Leicester.

I sent the template letter requesting all the insurance charges added to my MBNA/A&L card on 7th May and have not heard a word from them since, though I know they have 40 days to reply.

Meantime, a few days later I decided to cancel my PPI from now on (and had to give a month's notice, meaning PPI was still on June's statement) and I sent the FOS questionnaire to reclaim all of my PPI - bearing in mind I haven't had information on all my insurance going back yet.

This morning, I received a letter from MBNA stating that they "have arranged for an immediate refund of the premiums and associated interest charged to your account. A credit of £2058.88 will show on your next statement."

It goes on to say " I trust I have addressed you concerns to your satisfaction. I hope that you find my response acceptable. We have now exhausted our complaint process; therefore I must inform you that this is our final response on the matter. If you remain dissatisfied with the response, you may refer your complaint to the Financial Ombusdman Service, within six months of the date of this final response."

They 'regret' that they will not enter into any further correspondence regarding this matter, unless instructed to do so by the FOS.

Sorry it's a bit long-winded, but I used quotes from the letter!

My question is: should I accept the goodwill gesture of a refund into my account? I've seen other posts and responses advising others not to, as it's a cop-out, or some such thing.

As I haven't heard back from A&L from my first letter requesting a list of all charges to my A&L/MBNA card, could it be that I could be due more?

In which case, should I wait for their response or get onto the FOS?

Any advice would be much appreciated!

Gareth_Darke

marshallka wrote: »

Have you been passed on for adjudication yet?

Hi all Just got a letter today stating that I have now been passed to an adjudicator. Does this mean things should happen soon?

Gareth

di3004

Donman wrote: »

Once again many thanks for taking the time to help di3004. I will check to see if I can find a copy of the application and keep you updated accordingly. You are a star. Thanks again.

Its my pleasure :A, good luck with this, look forward to hearing from you.;)