PPI Reclaiming Discussion part 4

Costello123

I have quite a large outstanding balance on a Virgin Credit Card and noticed only a couple of months ago that I was paying a substantial amount extra per month for PPI (which I didn't know I had)......have had the card for quite some time and can't remember how I applied for it or was sold the PPI. I have now cancelled the PPI so that I can start making an indent in the amount instead but wondered if anyone else had been successfull in claiming money back for PPI from Virgin.....

toonarmy67

i received a phone call from a company called claims financial about claiming ppi. i claimed against northern rock and received £693.59. claims financial want a fee of £450 and vat of £78.75. do i have to pay this which seems excessive for the amount i won. and advice would be appeciated

di3004

Costello123 wrote: »

I have quite a large outstanding balance on a Virgin Credit Card and noticed only a couple of months ago that I was paying a substantial amount extra per month for PPI (which I didn't know I had)......have had the card for quite some time and can't remember how I applied for it or was sold the PPI. I have now cancelled the PPI so that I can start making an indent in the amount instead but wondered if anyone else had been successfull in claiming money back for PPI from Virgin.....

Hi and welcome

I assume there will be many who have had dealing with these and been successful in reclaiming.

I would therefore now complete the FOS questionnaire (these were recently issued by the financial ombudsman service) (FOS) to use for this purpose instead of writing a letter of reclaim.
Complete and save a copy in case you need to refer to it later on.
They have 8 weeks in full to respond.

The FOS questionnaire on link below further down the page Stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck, ask for further help if required.;)

di3004

toonarmy67 wrote: »

i received a phone call from a company called claims financial about claiming ppi. i claimed against northern rock and received £693.59. claims financial want a fee of £450 and vat of £78.75. do i have to pay this which seems excessive for the amount i won. and advice would be appeciated

Hi there and welcome.

Did you previously do your own reclaiming in regards of Northern Rock? Well done for your success anyway.

If you use a claims company, they do tend to charge I think if successful and take so much from your refund, but I would be very wary of using them, lots have had problems with claims companies, but there is a company called Ministry of Justice (MOJ) you can check the company out with them and any problems complain to them.
http://www.justice.gov.uk/contactus.htm


If you do have further reclaims to deal with then it may be a good idea to have a go yourself where you get to keep all your ppi refund if successful.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Hope this helps and good luck.:beer:

amersall

busterj wrote: »

I have a loan which Im paying off over 5 years, but 2 1/2 years ago
had a top up and again had PPI, for the same loan. This means Ive paid two lots of PPI, is this wright ???:rotfl:

Yes that is right, but the first ppi will not have gone full term on the loan and you would have had a rebate on this when you took the second loan, put your claim in for mis sell with both loan account numbers and your reasons for mis sell.You only get ppi back that you have paid, so if the first loan ran for say 2 years you only get 2 years worth of ppi back with interest.If the second loan is still active, then you get the months ppi with interest you have paid so far. Hope this helps.

amersall

toonarmy67 wrote: »

i received a phone call from a company called claims financial about claiming ppi. i claimed against northern rock and received £693.59. claims financial want a fee of £450 and vat of £78.75. do i have to pay this which seems excessive for the amount i won. and advice would be appeciated

Yes you have to pay this, they did the work for you and you won.
We always advocate on here to avoid these companys, they would not have done anymore for you to get your win than you could have done yourself for the price of a couple of stamps.I will say though that the amount they want based on what you win seems a bit too much to me, you could try asking them to reduce the fee as you only won a small amount.Just think if you won thousands, what would the bill be then?.

stereo_mike

toonarmy67 wrote: »

i received a phone call from a company called claims financial about claiming ppi. i claimed against northern rock and received £693.59. claims financial want a fee of £450 and vat of £78.75. do i have to pay this which seems excessive for the amount i won. and advice would be appeciated

Was your loan in arrears?? as even such a hurrendous company like Claims Financial only charge 25% + vat of anything you get back. Therefore if your loan was not in arrears you should only be paying £203.74, not in excess of £500.

stereo_mike

karen1998 wrote: »

hi i have asked a claims company to claim some money for me but have sinced found out that they charge a heavy fee and they now tell me if i cancel within two weeks of joining them i will still owe them two hundred pounds for them phoning the company who i am claiming from. If i new this i would not of asked this company i am on benifits and cant afford this can anyone advise.

Have you got a copy of the terms of instrusction?? Within the 14 day cooling off period (which is a regulatory standard) they should not be charging you anything.

Sarahkate13

I have a pip claim against hsbc going through at the moment-I have now had 3 letters from them.had the first within 8 weeks then the second within 4 and the third within 4 so they are keeping to the timescale the said they would but I wondered how many letters I should expect-how long will it go on for them saying they're still considering?

Sarahkate13

I meant ppi obviously!