PPI Reclaiming Discussion part 4

bugsy161

D1955 wrote: »

Bugsy - thanks for the information. This is very helpful.

I think I'll follow your advice and see what happens. Letter in tonights post.
Will update you all when I have a response
Fingers crossed!!

Let us know how you get on.
Thinking about it......................if they refunded you correctly from day one, taking into account a similar balance outstanding over the 15 years and a similar monthly PPI payment, then the amount you should be due back, plus compounded interest over a 15 year period, based on what you have already said, would give you approximately £32,000 so you would be selling yourself well short if you accepted £9,000.

di3004

amersall wrote: »

Are you there di, do you know what to do if a loan was taken out and the company was not covered by gisc? thanks sweetie x

LMAO :rotfl::rotfl: just reading through all the posts.......

amersall, lately hunni your more the firsy Jack Flash :eek::rotfl::rotfl:, great advice and info given to others too, well done you.:beer:

Right, where the broker or whoever sold the loan was not governed/regulated by FSA prior to them GISC, its suggested to call the Financial ombudsman service (FOS), they do normally recommend going the underwriter/insurer direction.;)

amersall

di3004 wrote: »

LMAO :rotfl::rotfl: just reading through all the posts.......

amersall, lately hunni your more the firsy Jack Flash :eek::rotfl::rotfl:, great advice and info given to others too, well done you.:beer:

Right, where the broker or whoever sold the loan was not governed/regulated by FSA prior to them GISC, its suggested to call the Financial ombudsman service (FOS), they do normally recommend going the underwriter/insurer direction.;)

Cheers di your a star :A it is the loan that was not covered by fos, so can you still try the underwriters route for mis sell? .This isnt for me it is for someone else, they put a claim in for mis sell on a secured loan and the fos rejected it as the firm was not covered, but they dont mention going down the underwriter route through the insurance.

di3004

amersall wrote: »

Cheers di your a star :A it is the loan that was not covered by fos, so can you still try the underwriters route for mis sell? .This isnt for me it is for someone else, they put a claim in for mis sell on a secured loan and the fos rejected it as the firm was not covered, but they dont mention going down the underwriter route through the insurance.

Your welcome amersall.:A

With mine, the broker had dissolved, and not only that they were not regulated either, so I could not even take this one to the FSCS either, but many on here where the ones who sold and set up the loan were not regulated/governed have made contact with the FOS, and they have suggested the insurer/underwriter route, because they would have been liable as well, due to the fact - these are the ones who approve or decline the loan, and they have to make sure the person who applied was eligible for the loan as well as PPI.

Hope that makes sense.

However, they will probably not accept liability, but it can go to the FOS, because the insurer/underwriter would have to be regulated (for being an insurer).;)
So if they say no the FOS will be able to investigate.

My update over a week ago from the adjudicator, is so far still ongoing, and they are still trying to make the insurer responsible.

So yes pursue the way its normally done, by giving them the 8 weeks, wait for the letter, and if they do not accept liability, the FOS will take a look.;) XXXXXXXXXX

amersall

di3004 wrote: »

Your welcome amersall.:A

With mine, the broker had dissolved, and not only that they were not regulated either, so I could not even take this one to the FSCS either, but many on here where the ones who sold and set up the loan were not regulated/governed have made contact with the FOS, and they have suggested the insurer/underwriter route, because they would have been liable as well, due to the fact - these are the ones who approve or decline the loan, and they have to make sure the person who applied was eligible for the loan as well as PPI.

Hope that makes sense.

However, they will probably not accept liability, but it can go to the FOS, because the insurer/underwriter would have to be regulated (for being an insurer).;)
So if they say no the FOS will be able to investigate.

My update over a week ago from the adjudicator, is so far still ongoing, and they are still trying to make the insurer responsible.

So yes pursue the way its normally done, by giving them the 8 weeks, wait for the letter, and if they do not accept liability, the FOS will take a look.;) XXXXXXXXXX

Thats brill di thanks ever so much :A xx

D1955

bugsy161 wrote: »

Let us know how you get on.
Thinking about it......................if they refunded you correctly from day one, taking into account a similar balance outstanding over the 15 years and a similar monthly PPI payment, then the amount you should be due back, plus compounded interest over a 15 year period, based on what you have already said, would give you approximately £32,000 so you would be selling yourself well short if you accepted £9,000.

Wow!!

I'll certainly let you know the result - I've given them 10 days to respond - and will give the details on here when they do. Should be useful for others in a similar position.

I'm not in any great rush so if I have to go to FOS then so be it.
This whole thing does make me really angry - to think that these people have been so dishonest and continue to be so - I'm hanging on for every penny!

Flamingo80

Well, I've just searched my posts on here and 2 months since my first post for advice...I have finally posted off my claim. Little Miss Disorganised or what?? lol

Thanks for all your help, I guess it's fingers crossed time now while I wait for a response. I'm a bit pessimistic when it comes to things like this so won't hold my breath.....

sha11y

Hi, i took a finance package out with Peugot Finance about 4 years ago, i was just wondering if the same information regarding PPI applies to car finance as with loans from banks.

amersall

Flamingo80 wrote: »

Well, I've just searched my posts on here and 2 months since my first post for advice...I have finally posted off my claim. Little Miss Disorganised or what?? lol

Thanks for all your help, I guess it's fingers crossed time now while I wait for a response. I'm a bit pessimistic when it comes to things like this so won't hold my breath.....

Good luck with this and let us know how you get on x

amersall

sha11y wrote: »

Hi, i took a finance package out with Peugot Finance about 4 years ago, i was just wondering if the same information regarding PPI applies to car finance as with loans from banks.

Yes it does, as long you had insurance to cover the loan for sickness, redundancy etc. look at the reasons for mis sell and if any or all apply to you get a letter sent off.x