PPI Reclaiming Discussion part 4

di3004

amersall wrote: »

am ok thanks, your response much appreciatedx

Nice to see you OTR as well hun X
What a great help you are, thank you.

di3004

nee-naw wrote: »

Just a simple note to let you know about a friend through hospital, who I have advised to ask for Fast Tracking. She has the same disease as me, but further along ...... she was brought into hospital because she could not afford her heating, and she (like me) has a condition which affects her extremeties (fingers, toes etc.,) so she really needs heat. By the time, they got her into hospital, 3 (THREE) toes were hanging by threads, 2 on one foot, 1 on the other ...... well we were awoken by staff for breakfast and meds, when she called me over, to help her look for her ........ TOE, it had fallen off in the night and she did not want to bother the staff. She NEEDS her heating, but can't afford it, the reclaim would certainly help her heat her home without fear of bills, and she might be able to keep her remaining toes ..... waiting until the summer is not really an option as the weather is somewhat warmer and her heating bills will be more affordable. Is that a sufficient reason to ask for fast-tracking???

Hi nee-naw

Blimey that is very tragic.
You have made a good point here hun...........I should defo get pushed back down to the bottom of the queue. My issues are nothing compared to this or many others on here, and I admit that, even though they have not looked from my past problems but my current ones to help if they could do or not do, they did not at first but did over 6 months after.

I know they have a team of accessors for this and they all look at these problems differently from one to another, and it can depend who ends up looking through them, but going by your mates.......:eek: that is definately an issue here, bless, I wish her well.:A

I send all my love and thoughts to you and your mate. XXXX

Lessard

Lessard wrote:

Quote:
Originally Posted by maxdp
I do not think you are being at all suspicious. Be very careful. They are trying to see if it was an advised or non-advised sale etc. It is getting more normal for the questionnaire to be sent out. If you do not want to answer the form per se, write it out in your own words or if you feel you have covered it in your original letter refer them back to that. Ask them for copies of the agreement etc. Did you send £10.00 off and ask them for a SAR?

Also make sure that your signature is slightly different that usual as some companies have been scanning signatures onto agreements etc. So please be careful.:eek:
===================================================================

Thanks for the reply.

It was all done over the phone and I was then sent a form to sign - does that strengthen my case or weaken it? I remember saying to the people on the phone that I didn't want to have insurance, but was specifically told that if I didn't take the insurance then I couldn't get the loan, etc.

Unfortunately I no longer have any of my paperwork, but I was able to provide the full loan account numbers to this company.

Does it hurt my case if I ask for copies of the agreement? Since they'll then know I don't have them.

What exactly is the SAR you mentioned?

I don't think I'm going to fill in any of the questionnaire at this point. I'm inclined to send a 2nd letter to them (again via recorded delivery) explaining that they should hold all the information in their records to allow them to investigate my complaint fully.

Hello,

I originally posted in a previous thread in January.

I sent the company involved a letter saying that I was refusing to complete the questionnaire as they should hold all of the relevant info. I also sent them a SAR request.

I received all of the info as per my SAR request and have just received a letter from them offering me a full refund of all the premiums paid in respect of the PPI, plus 8% interest.

Before I accept this offer I need to make sure that this is everything that I'm due back.

I paid the loan off early, so is there anyway that any PPI was included in the final payment that I made to them to pay off the loan?

From the SAR info I received the total PPI that I would have been due to pay back for the loans was 3 times as much as what I'm being offered.

maxdp

Lessard wrote: »

Hello,

I originally posted in a previous thread in January.

I sent the company involved a letter saying that I was refusing to complete the questionnaire as they should hold all of the relevant info. I also sent them a SAR request.

I received all of the info as per my SAR request and have just received a letter from them offering me a full refund of all the premiums paid in respect of the PPI, plus 8% interest.

Before I accept this offer I need to make sure that this is everything that I'm due back.

I paid the loan off early, so is there anyway that any PPI was included in the final payment that I made to them to pay off the loan?

From the SAR info I received the total PPI that I would have been due to pay back for the loans was 3 times as much as what I'm being offered.

Hi There Congratulations and well Done:T :T :T

If you can post the figures up on here I am sure TURBOMAN will check them for you. I do quite agree it is best just to check.

We need to make sure you are getting back what is owed to you.;)

firstluv

silly question have been reading here things like amount claimed amount offered etc....how do I know am being offered a resonable amount how do I calculate what I should be getting

Turboman

maxdp wrote: »

Hi There Congratulations and well Done:T :T :T

If you can post the figures up on here I am sure TURBOMAN will check them for you. I do quite agree it is best just to check.

We need to make sure you are getting back what is owed to you.;)

Yes--I'll check them Lessard--need details as below (ideally)
_______________________________________________
a)-Date of Loan
b)-Date Loan paid off early (or number of payments made)
_______________________________________________
c)-Original Loan Advance amount (excl PPI SPI loan)
d)-PPI Single Premium insurance loan amount
_______________________________________________
e)-APR % at start of loan
f)-Mthly Premium at start of loan for-Original Loan Advance amount (excl PPI SPI loan)
g)-Mthly Premium at start of loan for-PPI Single Premium Insurance loan amount
OR
h)Total Mthly premium at start of loan if you haven't got f) & g)
_______________________________________________
i)-Total mthly premium you were paying at end of loan (+APR % if you have it) --
_______________________________________________
j)-from your SETTLEMENT letter--the settlement amount
k)-from your SETTLEMENT letter--the rebate quoted -if any
l)-from your SETTLEMENT letter--the PPI refund quoted-if any

Turbo

Turboman

firstluv wrote: »

silly question have been reading here things like amount claimed amount offered etc....how do I know am being offered a resonable amount how do I calculate what I should be getting

Hi

There's 2 basic cases

Cancelling a PPI Policy

In this case, the lender works out a "derisory" rebate nowhere near the original PPI Loan--AND you leep paying interest on the PPI to the end of the loan on the rest-resulting in only a very small reduction in the overall mthly premium.

Successfully Claiming Mis-Selling

In this case the lender must restore a situation as if the PPI had never been taken.

There are 2 possible scenarios in this case

1--if the loan is still active

In this case, you must receive back all the premiums you have paid towards the PPI part of the loan + interest (usually 8%)-

-and additionally-the balance of the PPI Loan still outstanding is written off-

-leaving you with just the balance of the original cash advance loan-and the premium which is applicable to that (see my post earlier about ratios in discussing premiums)

NOTE--You can only get back the amount of PPI premiums you HAVE ACTUALLY PAID --the rest is written off--ie-the loan is reduced to remove all trace of the PPI part of the loan.

2-if the loan has previously been settled before mis-selling upheld

This is harder to explain without actually using a worked example--suffice to say-the principle is still the same in achieving a situation whereby the PPI had never been applied.

It involves calculating a additional ppi refund based upon the Loan Settlement Figures & the Loan rebate already given in that settlement.

Hope that helps

Turbo

leasha

Hi, I took out a Citifinancial mortgage (20k) and personal loan (3k) in 2003. They charged us £520 per month for the mortgage inclusive of ppi. In 2005, I split from my partner and had to go bankrupt due to being 8 months pregnant and unable to work. I lost my house because they wouldnt accept a settlement figure (cant remember the figure now, but it was about 5k short of the total amount.) But basically, they said that over 2 years, I had repaid only £20 of the mortgage!! At £520 per month, I questioned them about it and they said the first few years are mostly interest and this is on our agreement. I now realise the PPI was mis sold to us as we were told we HAD to have it. I paid £1 for the agreement to be sent to me on 12th Jan this year, I called them today and they said they have lost the agreement. WHAT DO I DO??

I lost my house, my credit rating... everything because of Citifinancial.. and now they are still messing me about! Somebody help me please!

pinknico

You may have to send an SAR request which will not provide the agreement if they have lost it but may provide some paperwork which shows that you had the loan and what the loan number was.
I hope someone else will be along who can be more help.x

chocaholic110

maxdp wrote: »

Hi Chocaholic

I claimed back three loans with Barclaycard Masterloan for somebody else. All had PPI. They were 2002 then two in 2004 all refinanced. Took it to the FOS and got all three PPI back. Well they uphelp complaint.

They missold the loans by firstly calling the PPI a Premium Loan which was very confusing. The person I was claiming back for also said that they were told over the phone when they took the Loans out that the loan could not be guaranteed without the PPI.

Write back to them reiterating your complaint give them 14 days to reply and tell them you will take it to the FOS. Good Luck and make sure you are clear on the way that it was miss sold if that is what you believe.

Thanks for this. Can anyone help with how I send a SARS request if I don't have a loan account number?