PPI Reclaiming Discussion part 4

di3004

southend wrote: »

ta sweetheart, my old mans going to kill me, hope i am wrong

LOL I'm sure all will be fine.:D

Your very welcome.;)

Off to bed now, shall be back tomorrow, nighty night.:A

climbintheladderouttadebt

di3004 wrote: »

Me again

had to sign off for a bit earlier, had a massive migraine, so will try to help all I can.;)

Hi DI3004, hope the migraine has disappeared now?

Thank you soooo much for your invaluable advice! I shall get hold of a copy of the booklet and start a claim, including the 8% interest on the PPI payments. Lloyds are going to HATE me now, as I am contesting credit card charges resulting from a processing error on their part, plus bank charges (from being 11p overdrawn when daughter was only a few weeks old and, surprise surprise, not coping too well on benefits and limited mobility etc after a c-section!)

Southend, thank you for your sympathy in the situation. If you have any claims ongoing at the mo I wish you luck!

Everyone else who have made some very valid points and given some great tips and advice, thank you so very very much for reducing the stress when faced with a daunting task!

Hope you all have a lovely day and enjoy the sunshine! :A

di3004

climbintheladderouttadebt wrote: »

Hi DI3004, hope the migraine has disappeared now?

Thank you soooo much for your invaluable advice! I shall get hold of a copy of the booklet and start a claim, including the 8% interest on the PPI payments. Lloyds are going to HATE me now, as I am contesting credit card charges resulting from a processing error on their part, plus bank charges (from being 11p overdrawn when daughter was only a few weeks old and, surprise surprise, not coping too well on benefits and limited mobility etc after a c-section!)

Southend, thank you for your sympathy in the situation. If you have any claims ongoing at the mo I wish you luck!

Everyone else who have made some very valid points and given some great tips and advice, thank you so very very much for reducing the stress when faced with a daunting task!

Hope you all have a lovely day and enjoy the sunshine! :A

Hi, your very welcome.
And Migraine disappeared for now, thank you.:T

I do think you have a good case here, and I don't blame you, its your money they have deprived you off.

However, I have found some info here on the Lloyds link of Credit Card PPI, of what it protects and so on if you want to check this out, I assume they would all be the same policy.
http://www.lloydstsb.com/credit_cards/payment_protection_cover.asp
But remember you have a good case anyway, so go for it and keep at them.

Please keep us posted honey, fingers crossed for you.:AXX

climbintheladderouttadebt

I will look into everything, with gusto, on Monday, am determined to start enjoying my weekends and spend some time living my life again lol!

Will keep everyone updated at every opportunity.

Many, many thanks!

di3004

climbintheladderouttadebt wrote: »

I will look into everything, with gusto, on Monday, am determined to start enjoying my weekends and spend some time living my life again lol!

Will keep everyone updated at every opportunity.

Many, many thanks!

Your very welcome.
You will get there in the end, and hopefully will soon get that money back in your pocket where it rightfully belongs.

Take care and we look forward to hearing from you soon.;) XX

Thebiker

I have just had an offer from the co-operative, it is not what I was hoping for though, also I am not sure where they are getting the figures from.

First of all they have rejected my first 3 PPI claims, based on the fact that they were taken out in 2003 and are over 6 years old. I know this isn't really a valid reason as I have seen people on here successfully get claim back from the 1990's..

The other other 2 loans they have upheld and state. "I am prepared to offer a full refund of the premiums paid, the interest applied to the premiums, and an additional 8% interest on these amounts".

The 4th loan I had the PPI amount was 1045.22, they have offered:

The total PPI including interest paid = 600.96
Plus 8% interest on each payment = 263.00
Total = 863.96

The 5th loan I had the PPI amount was 1378.32, they have offered:

The total PPI including interest paid = 220.68
Plus 8% interest on each payment = 88.77
Total = 309.45

Now the 5th loan I had I defaulted on, because I came out of work
and was not covered by the PPI, they then transfered the whole amount into my current account and eventually closed my account and sold the debt to an agency, who I am still paying. So should I still be entitled to the full 1378.32 from that PPI since they would have got all their money back when they sold the debt on anyway?

As for the 4th loan, I don't know where they got the figure of 600.96
is this something else that they are offering and not the PPI amount?

di3004

Thebiker wrote: »

I have just had an offer from the co-operative, it is not what I was hoping for though, also I am not sure where they are getting the figures from.

First of all they have rejected my first 3 PPI claims, based on the fact that they were taken out in 2003 and are over 6 years old. I know this isn't really a valid reason as I have seen people on here successfully get claim back from the 1990's..

The other other 2 loans they have upheld and state. "I am prepared to offer a full refund of the premiums paid, the interest applied to the premiums, and an additional 8% interest on these amounts".

The 4th loan I had the PPI amount was 1045.22, they have offered:

The total PPI including interest paid = 600.96
Plus 8% interest on each payment = 263.00
Total = 863.96

The 5th loan I had the PPI amount was 1378.32, they have offered:

The total PPI including interest paid = 220.68
Plus 8% interest on each payment = 88.77
Total = 309.45

Now the 5th loan I had I defaulted on, because I came out of work
and was not covered by the PPI, they then transfered the whole amount into my current account and eventually closed my account and sold the debt to an agency, who I am still paying. So should I still be entitled to the full 1378.32 from that PPI since they would have got all their money back when they sold the debt on anyway?

As for the 4th loan, I don't know where they got the figure of 600.96
is this something else that they are offering and not the PPI amount?

Hi there

Hopefully Robbedofmymoney or someone will be here later to have a look at all these figures for you.

I am useless at workings out, and hopefully it will be checked over by today for you.
Its always best to have them checked I think, good luck.;)

Thebiker

Thanks Di,

I will wait for one of the other great people on here to have a look at it and hopefully they will be able to explain what I am being offered better, although I really don't want to accept the offer since it is 2k off of the amount I was claiming.

What do you think about them rejecting the first 3 claim based on them being over 6 years old, do you think the ombudsman would be likely to uphold these?

sparklyjojo

Hello all,

I'm brand new to the forum, and not entirely sure how all this works, but from reading recent posts I can see you are all very knowledgable people! Would be so grateful if anyone has some time to help me out with the following:

My husband and I took out a loan from Northern Rock in 2007. We applied online - however the webpage said we would receive a call from someone to finalise the application. Northern Rock phoned my husband and informed him that we couldn't have the loan without having the ppi insurance as well. We really needed the loan at the time, and so therefore agreed and signed the paperwork stating we wished to take out the insurance with the loan.
I read Martin's article about reclaiming ppi, after seeing a lot in the national press about it, and decided to fill in the questionnaire and send it to Northen Rock. I sent this exactly 8 weeks ago, and haven't heard anything from them.

There are a few things I'm not sure about:

1) Because we applied online, does that mean we are not eligible to reclaim? (despite the fact that the loan was finalised over the phone, and we were told we couldn't have to loan without taking out the insurance)

2) Should we cancel the ppi insurance now anyway? We are still paying it each month because on the questionnaire we filled out, it said that it was likely that by sending the complaint, it would effectively cancel the insurance at the same time - or have I misunderstood that? Would it confuse the process for me to cancel it now? As in the questionnaire I stated that we hadn't cancelled it yet.

3) Thirdly, and finally (!), because we haven't heard back and it's been 8 weeks - do we now send te second letter directly to Northern Rock or to the ombudsman?

Just a bit of background - we have never missed a payment, or made any claims on the ppi.

Apologies for my ignorance , as you can tell - I don't really understand all this and would be so grateful for any help or advice you can give.

Thank you.

di3004

Thebiker wrote: »

Thanks Di,

I will wait for one of the other great people on here to have a look at it and hopefully they will be able to explain what I am being offered better, although I really don't want to accept the offer since it is 2k off of the amount I was claiming.

What do you think about them rejecting the first 3 claim based on them being over 6 years old, do you think the ombudsman would be likely to uphold these?

Hi and your welcome.

Yes I don't blame you £2K is a lot to lose.

Did they actually give you the final decision on all 3?

If not then you can write back again with further information, sometimes they will change a final decision as well if you put forward stronger information.
For one the FSA are punishing banks who reject genuine complaints, and not for investigating complaints properly, if you think this have been the case of yours make them aware of this and then ask them to reconsider despite their findings, give them say 14 days and if they don't come back with anything at all or a better decision then try with the FOS.

Many have still been successful with reclaims going back way into the 90's, so I would not worry about the 6 years.

So there is no harm in trying with the FOS once a firm and final decision have been given, and the FOS are able to investigate complaints if the banks/businesses were covered by the FSA prior to these were regulators GISC.

So my advice is never back down, there are ways around these complaints.;)