PPI Reclaiming Discussion part 4

kar999

Thanks for the reply. The JSA qualifying clock resetting was the most annoying thing. Unless I get 30 days consecutive JSA under my belt, I could be out of work on JSA for 28 days every other month or so and in temporary work for just a few weeks from time to time and still not get a penny from the policy.

The benefits, even if payable on my remaining mortgage, would probaly be less than a claim refund.

di3004

Kar999

As amersall says complete the FOS questionnaire and make a reclaim on the ppi, this is used instead of a letter, the financial ombudsman service (FOS) have recently issued for this purpose, so complete, save a copy and send to whoever was responsible for setting the policy up, they have 8 weeks in full to respond.

The FOS questionnaire you will find on the link below - further down the page as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck, please keep us posted.;)

DoingItAlone_2

A couple of quick questions.. spent all night completing the form.

I had recently requested a statement of my loan as there were various charges applied at the end of it. Would that statement suffice as paperwork to go with questionaire form? It has the loan ammount, the insurance ammount and every payment and charge ever made. I don't have agreement or PPI agreement at hand and would like to get this posted off asap.

Section A - policy number of Payment Protection Insurance - I have the loan number. Is that ok?

Section C/1 - What was the account number for this... I have put my Halifax bank number, Is that OK?

Section B/7 - Have I ever made a claim - I have ticked NO. However, section C/3 I have explained when I once asked on the phone, due to being 2 months behind on loan and bank constantly phoning me that I asked for the insurance to cover me and was told I could not because I would have to register myself as unemployed. I explained I was self employed and would get work soon so I could not do that and was informed that I therefore couldn't register a claim. I mentioned that at the time I said to the bank this is ludicrous, I had to take out the policy because I was self employed and now I am being told I have to be unemployed to action it. Does this sound OK to mention and have I put it in the right place. I also mentioned I was not aware of the fact I could possibly cancel the policy once I knew it was a waste of money and the bank never mentioned it to me either.

Thanks

di3004

DoingItAlone wrote: »

A couple of quick questions.. spent all night completing the form.

I had recently requested a statement of my loan as there were various charges applied at the end of it. Would that statement suffice as paperwork to go with questionaire form? It has the loan ammount, the insurance ammount and every payment and charge ever made. I don't have agreement or PPI agreement at hand and would like to get this posted off asap.

Section A - policy number of Payment Protection Insurance - I have the loan number. Is that ok?

Section C/1 - What was the account number for this... I have put my Halifax bank number, Is that OK?

Section B/7 - Have I ever made a claim - I have ticked NO. However, section C/3 I have explained when I once asked on the phone, due to being 2 months behind on loan and bank constantly phoning me that I asked for the insurance to cover me and was told I could not because I would have to register myself as unemployed. I explained I was self employed and would get work soon so I could not do that and was informed that I therefore couldn't register a claim. I mentioned that at the time I said to the bank this is ludicrous, I had to take out the policy because I was self employed and now I am being told I have to be unemployed to action it. Does this sound OK to mention and have I put it in the right place. I also mentioned I was not aware of the fact I could possibly cancel the policy once I knew it was a waste of money and the bank never mentioned it to me either.

Thanks

Hi there

You've been working hard then, bless you and well done.:T

I would just post copies and not originals, although you do not have to enclose any paperwork if you don't want to.

Yes its ready to go, your reasons are great and yes the policy/account number for both A & B are also fine.

I would post this by recorded delivery for your proof of posting.;)

Good luck. X

amersall

Not poking my nose in :D but is the account number the loan number and not the bank account number?;)

di3004

Right, silly me:o, what I should have explained is the the policy number of that actual loan is the one you use, I call it account number as well lol, ;)X (Soz)

DoingItAlone_2

di3004 wrote: »

Right, silly me:o, what I should have explained is the the policy number of that actual loan is the one you use, I call it account number as well lol, ;)X (Soz)

confused

Section A - policy number of Payment Protection Insurance - I have the loan number. Is that ok?

Section C/1 - What was the account number for this... I have put my Halifax bank number, Is that OK?

So I put the same number in both?

Thanks very much for your super fast responses folks. Appreciated!

Gareth_Darke

amersall wrote: »

Hi there, what ever ppi monthly payments you made you get this back x 24 with interest, plus 8%, the whole ppi amount is then taken off your loan and your payment each month will reduce by the monthly ppi amount, they then reschedule the loan as if ppi was not on,just make sure you get the same apr you had at the start of the loan and that is finished when the original one should have.You dont get ppi back that you have not yet paid. Hope this helps

Thanks amersall and Di for their help today. One more question, will NatWest simply send a cheque or deposit into my current account, or do they have to take it off the loan acconut? I only ask because I would like to settle another debt if at all possible....with the in-laws......:eek:

G

kar999

Just one puzzling question…. In general does submitting a claim automatically mean that the policy will be cancelled?
I’m concerned that Martin’s guide says

“Reclaiming almost certainly means that your insurance will be cancelled, as you are effectively saying it is not suitable to your needs, so only start the process if you definitely want your insurance to come to an end.”

My mortgage PPI policy would only pay out for a maximum of 12 months which would only be £181 x 12 = £2172. The premiums I have already paid exceed this amount but if the claim failed in theory, I might be glad of this if I was out of work for a whole 12 months. Although as my post above indicates, if I keep finding temporary work I’m likely to get nothing from the policy.
http://forums.moneysavingexpert.com/showpost.html?p=34910107&postcount=12130

amersall

DoingItAlone wrote: »

confused

Section A - policy number of Payment Protection Insurance - I have the loan number. Is that ok?

Section C/1 - What was the account number for this... I have put my Halifax bank number, Is that OK?

So I put the same number in both?

Thanks very much for your super fast responses folks. Appreciated!

Superfast aint in it :eek: where our di is concerned :A:A she is the resident jack fash :T:T go di :cool::cool: havent heard soz in years
used to say that when i was a little bit younger than i am now:eek:
Nice to have you doing what you do best di :A xx