PPI Reclaiming Discussion part 4

amersall

SirK wrote: »

Thanks for the info.

The loan ran from Sep 03-08 but I've completed the form and sent it off with a copy of my last statement which showed loan amount, PPI amount, loan duration and start date (didn't realise it was there until I looked further). Hopefully enough for them, just a matter of waiting now and I'll update on this as and when.

Fingers and toes crossed xxx

amr_rm

Hi all

Quick question that i can't find the answer in the search... sorry in advance

I have a loan which i was told that i needed to have PP to be accepted...usual story for most

The issue i have is that the loan is currently still active but looking at my loan information, the amount that is left is less than the total PPI that i paid as part of the loan...

My question is...

Iam i within my right to approach my bank with this detail and request that the remaining ballance be paid off

or

Fill out the word document and send a covering letter to the bank so there is a paper trail...?

Thanks

Andrew

climbintheladderouttadebt

Hi Di3004, & all other posters,

I got some good news today!

climbintheladderouttadebt wrote: »

Am labouring away on this today as planned! Am writing a letter to send to Lloyds recorded delivery to request the PPI booklet/policy document, as their online stuff covers PPI taken out from April 2009. Having looked further into mine in the 'payment protection cover policy summary', which is just a few printed sheets, it shows I was only covered for hospitalisation and life claims.

After reading all the posts and links, I am going to give this a try. I've calculated what PPI payments have been applied to the account (I always keep statements etc which is very handy!) and taken plenty of notes to put together in my letter once I get my copy of the policy document.

Thanks again for all the info, help and advice, I hope to have some good news soon! :beer:

I wrote to Mr Daniels at Lloyds last week, and today gor an offer of full PPI PLUS interest on the credit card account! That's nearly £150 off the bill! I never would have gone for this had everybody's posts been so helpful and encouraging! My son is due in less than 2 months and at the rate my debt is reducing it looks like I'll have nothing to stress about before the birth!

Thanks everyone! Wishing those claiming now lots of luck!

amersall

amr_rm wrote: »

Hi all

Quick question that i can't find the answer in the search... sorry in advance

I have a loan which i was told that i needed to have PP to be accepted...usual story for most

The issue i have is that the loan is currently still active but looking at my loan information, the amount that is left is less than the total PPI that i paid as part of the loan...

My question is...

Iam i within my right to approach my bank with this detail and request that the remaining ballance be paid off

or

Fill out the word document and send a covering letter to the bank so there is a paper trail...?

Thanks

Andrew

Hi there, have you gone mis sell with this, if you havent then i would get a letter in for mis sell now.The bank will not pay the remaining balance off unless you have won mi sell. I am sorry if i have read this wrong but i am unsure what you mean.

*Mhairi*

*Mhairi* wrote: »

A friend of mine has been pursuing Bank of Scotland Credit card for missold PPI. Originally she was using a company, however as they were so unreliable, she continued to pursue it alone. She has had a letter today stating that they uphold her claim and that they intend to "ensure that she is in the same situation as she would have been had she not been missold PPI".

This is great news, however....

Due to financial difficulties she now has a debt management plan in place for this credit card and another. The debts interest are frozen and she is paying off a proportion to each every month. The letter she receives today has advised thatthey will calculate how much she is due and that it will be paid into her account if it is still open.

She would much rather have a cheque, as a payment to this credit, although reducing the balance of her debt will not make any difference to her day to day finances - the cash now would be more beneficial to her.

Is she likely to get this? Can she insist on it?

Thanks for any advice :beer:

Thanks for the reponses.

I am pleased to say that my friend received a cheque last week for £1100 and a further £2000ish was credited to her credit card account. When she phoned to query this - she was told that the £2000 was the amount her account was in arrears and therefore the cheque was for the balance.

She was never contacted or made an offer - they just made these payments. When she queried, she was told that she should have had a letter. Is this normal practice? I thought she would have to barter a bit!

amersall

*Mhairi* wrote: »

Thanks for the reponses.

I am pleased to say that my friend received a cheque last week for £1100 and a further £2000ish was credited to her credit card account. When she phoned to query this - she was told that the £2000 was the amount her account was in arrears and therefore the cheque was for the balance.

She was never contacted or made an offer - they just made these payments. When she queried, she was told that she should have had a letter. Is this normal practice? I thought she would have to barter a bit!

Hi there and well done to your friend on her win:j, i believe they can do this if you have arrears i think she was very lucky getting any back to her to be honest if she was on a dmp,at least that has cleared one debt for her. But she got a good bit back and if i were her i would bank that cheque ! before they change their mind:rotfl:

Dirks_Engine_Room

This is first post. I am coming to the 8 week deadline (sent off MSE letter) for a response from Natwest over a loan which I took out in September 2004. The initial amount was £5K (worked out to be £7200 with interest and PPI), with repayments of £128 (£28 of which was PPI). In January 2007 (30 months later), I renegiotiated the loan (still had balance of £3750) the loan went up to 8750, and took on board repayments of £182 (£31 PPI). I cancelled the PPI in Feb 2009 and repayments went down to £169 as PPI was front loaded. I imagine first loan was also front loaded.

I will finish paying loan in January 2011.

I am a teacher and PPI was offered without asking me any questions, and when I asked manager he told me I would be stupid not to take it. When I renegotiated the loan I was not asked about PPI it was simply added. I don't even have a tick on the PPI question on my copy of the loan agreement.

What do people think of chances and should I just continue to wait even though 8 week deadline has passed. I have e-mailed three times and have no response from customer relations.

Any ideas?

Thanks

di3004

*Mhairi* wrote: »

Thanks for the reponses.

I am pleased to say that my friend received a cheque last week for £1100 and a further £2000ish was credited to her credit card account. When she phoned to query this - she was told that the £2000 was the amount her account was in arrears and therefore the cheque was for the balance.

She was never contacted or made an offer - they just made these payments. When she queried, she was told that she should have had a letter. Is this normal practice? I thought she would have to barter a bit!

Hi there

Well done to your friend.:beer:

I understand it can vary from one bank to another in how they deal with refunds, but yes this can be standard practice.;)

di3004

Dirks_Engine_Room wrote: »

This is first post. I am coming to the 8 week deadline (sent off MSE letter) for a response from Natwest over a loan which I took out in September 2004. The initial amount was £5K (worked out to be £7200 with interest and PPI), with repayments of £128 (£28 of which was PPI). In January 2007 (30 months later), I renegiotiated the loan (still had balance of £3750) the loan went up to 8750, and took on board repayments of £182 (£31 PPI). I cancelled the PPI in Feb 2009 and repayments went down to £169 as PPI was front loaded. I imagine first loan was also front loaded.

I will finish paying loan in January 2011.

I am a teacher and PPI was offered without asking me any questions, and when I asked manager he told me I would be stupid not to take it. When I renegotiated the loan I was not asked about PPI it was simply added. I don't even have a tick on the PPI question on my copy of the loan agreement.

What do people think of chances and should I just continue to wait even though 8 week deadline has passed. I have e-mailed three times and have no response from customer relations.

Any ideas?

Thanks

Hi there and welcome.

I think you do have a chance here with the reasons you have given.

I would wait a few days past the 8 weeks, sometimes they can run a little later than the timescale, and if you hear nothing by then, I would chase them up by sending them a further letter.

However - if you hear nothing after the 8 weeks have passed, your in your rights to complain to the financial ombudsman service (FOS), but personally I think it may be worth giving them a little longer, as I understand they have backlogs to get through, even though it would be nice if they could let you know if they require more time.

If you decide to want to send a follow up letter, I believe there is on on the link here.
http://www.moneysavingexpert.com/rec...loan-insurance

Hope you hear something soon, keep at them and good luck.;)

Dirks_Engine_Room

Thanks for that. Just so frustrating waiting for various responses whether they are letters or e-mails. Will wait and see - good things are supposed to come to those that do.

Cheers for the welcome as well.