PPI Reclaiming Discussion part 4

ben_j_2

That's great, thanks very much for the info!

Ben

jillntone

Hi, I hope someone can give me some sound advice. This is our first time on a forum so here goes

We took out a secured business loan (against our business premises) just over 5 years ago with Lloyds TSB on a 10 year basis and was told 'that they were happy to give us the loan as long as we took out the insurance' we were not told that we could obtain insurance elsewhere, let alone at a cheaper rate or that we could still have the loan if we did not take out the insurace. So we took the package as we were desperate for the money for stock. We now believe that we were mis-sold and so wrote to the bank about 3 weeks ago. We got the usual rejection letter as a 'final decision' (they suggested getting further advice etc) and so have now gone to the financial ombusman and it is taking its course. Since we sent this letter we have had a conversation with the bank and they asked if we were going to be cancelling the insurance. We were going to but don't know what is the right thing to do. The bank advised us not to cancel but we also learnt that we would get a rebate on the remaining insurance. So what is the right thing to do? If we cancel and have the rebate, does that mean that we cannot claim back from the mis-sold side or that it will go against us? Or is it a possible case of a win win senerio if the financial ombusman agree with us? As we are in the first stages of all this we really are struggling to know what the right thing to do is. Please could someone give us some advice. We do read this site alot and find it very useful and you guys do a great job so hopefully you can help us on this matter
Thanks in advance

philly18

Hi, this is my first ever post! My sister had a credit card which included ppi. Unfortunately she has paid the balancean cut up the card about 2 years ago and does not have any details of the account e.g. the account no! Is there any way that she can request her no./details and then claim for wrongly been sold ppi? Thanks for any help:)

alyrian

alyrian wrote: »

Hello, very nice forum with so many resources all detailed, it's brilliant.

I only realised not so long ago that the PPI of my loan(s) was mis-sold, so I'm going to try to reclaim it. I was a student at the time I took the loans therefore once I was unemployed, looking for a job after university, I realised the PPI couldn't do anything for me.
I started with a loan in 2003, in 2004 I got it re-loaned and again in 2006 (still running until march 2011), 3750 pounds worth of PPI so fingers crossed I can get some or all back.

Shall I send 1st the PPI claim for the currently running loan or all 3 at the same time (separately of course)?

Thanks a lot for answers and details.

I got 3 loan PPI, 1 credit card PPI, 1 credit card charges and 1 bank charges all prepared so fingers crossed now.

halphy

philly18 wrote: »

Hi, this is my first ever post! My sister had a credit card which included ppi. Unfortunately she has paid the balancean cut up the card about 2 years ago and does not have any details of the account e.g. the account no! Is there any way that she can request her no./details and then claim for wrongly been sold ppi? Thanks for any help:)

Did she pay her card through her bank, she could check statements for an acc number if she did, or send the bank £1 and ask for a copy of her original credit agreement, then send the letter off with the account number.

Good Luck to her

halphy

alyrian wrote: »

Thanks a lot for answers and details.

I got 3 loan PPI, 1 credit card PPI, 1 credit card charges and 1 bank charges all prepared so fingers crossed now.

Good Luck, Keep proof of postage for all your letters x

TheRealDeal_2

Hi all


I'm completely new to this and want to make a claim for PPI on a Bank Of Scotland credit card.

I've been looking through the 'PPI Reclaiming Guide' but still not very sure of what I am doing (its a big read)

Basically I was wondering how I calculate what exactly I am owed ? I can do the maths for the PPI cost x 5 years that I have had the card but what about the interest ? am I suppose to add the interest of the card as well as the statutory 8% ? or do I just add 8% ?

Audster68

Hello everyone!

I've looked on these forums for a number of years and this is my first post, so I'm looking for some advice!!
In 2008 I came to this site and sent letters off with regards to bank charges and mis-sold PPI. With regards to PPI, the companies involved are: Black Horse and Welcome Finance. The BH loan was taken out in November 2005 and the WF loans were taken out in January 2003 and January 2005 respectively. I received the standard letters stating that they didn't mis-sell the loans. The BH loan has been paid off, and I did refer the matter - for the BH loan - to the FOS. However, I didn't pursue it.
In early 2009 I completed paperwork in getting my PPI claims dealt with by a law firm. The company I dealt with - cannot remember their name, it was mostly a telephone contact - passed it to James and Beckett. Nothing much happened with them - the odd telephone conversation asking me to recall how it the PPI was sold to me. Then, I was told in April 2010 that James and Beckett were no longer trading. My case has been passed to Black Lion Law. I cannot even get in touch with them - BLL were fairly pushy in getting me to transfer to them, but again, its all gone quiet. I phoned the FOS today and they have said that as I didn't do anything back in 2008, unless I have a good reason for not taking things up at the time, that's it! It's made me feel pretty depressed and I wish I had been more assertive! I was going through a bit of a personal crisis at the time and just didn't know what to do. Is there ANYTHING I can do now? I still have a loan with WF and a very small balance....please help!! Thanks!!

amersall

Audster68 wrote: »

Hello everyone!

I've looked on these forums for a number of years and this is my first post, so I'm looking for some advice!!
In 2008 I came to this site and sent letters off with regards to bank charges and mis-sold PPI. With regards to PPI, the companies involved are: Black Horse and Welcome Finance. The BH loan was taken out in November 2005 and the WF loans were taken out in January 2003 and January 2005 respectively. I received the standard letters stating that they didn't mis-sell the loans. The BH loan has been paid off, and I did refer the matter - for the BH loan - to the FOS. However, I didn't pursue it.
In early 2009 I completed paperwork in getting my PPI claims dealt with by a law firm. The company I dealt with - cannot remember their name, it was mostly a telephone contact - passed it to James and Beckett. Nothing much happened with them - the odd telephone conversation asking me to recall how it the PPI was sold to me. Then, I was told in April 2010 that James and Beckett were no longer trading. My case has been passed to Black Lion Law. I cannot even get in touch with them - BLL were fairly pushy in getting me to transfer to them, but again, its all gone quiet. I phoned the FOS today and they have said that as I didn't do anything back in 2008, unless I have a good reason for not taking things up at the time, that's it! It's made me feel pretty depressed and I wish I had been more assertive! I was going through a bit of a personal crisis at the time and just didn't know what to do. Is there ANYTHING I can do now? I still have a loan with WF and a very small balance....please help!! Thanks!!

Have you signed anything with black lion law? people on the fpc website are having trouble with these, if you have then i am afraid you will have to let them deal with this, and if you do not have a good reason for leaving the original claim for so long, then you will pay them a fee and end up with nothing. If you have not signed anything then put your claim in for mis sell as you normally would, state your reasons why you left it so long and that you would like them to look at your ppi claim again. Hope this helps

di3004

jillntone wrote: »

Hi, I hope someone can give me some sound advice. This is our first time on a forum so here goes

We took out a secured business loan (against our business premises) just over 5 years ago with Lloyds TSB on a 10 year basis and was told 'that they were happy to give us the loan as long as we took out the insurance' we were not told that we could obtain insurance elsewhere, let alone at a cheaper rate or that we could still have the loan if we did not take out the insurace. So we took the package as we were desperate for the money for stock. We now believe that we were mis-sold and so wrote to the bank about 3 weeks ago. We got the usual rejection letter as a 'final decision' (they suggested getting further advice etc) and so have now gone to the financial ombusman and it is taking its course. Since we sent this letter we have had a conversation with the bank and they asked if we were going to be cancelling the insurance. We were going to but don't know what is the right thing to do. The bank advised us not to cancel but we also learnt that we would get a rebate on the remaining insurance. So what is the right thing to do? If we cancel and have the rebate, does that mean that we cannot claim back from the mis-sold side or that it will go against us? Or is it a possible case of a win win senerio if the financial ombusman agree with us? As we are in the first stages of all this we really are struggling to know what the right thing to do is. Please could someone give us some advice. We do read this site alot and find it very useful and you guys do a great job so hopefully you can help us on this matter
Thanks in advance

Hi and welcome.

Lloyds all over!

The FOS should resolve this one for you, they have so many complaints they have upheld against these.
And not only that in the media a few months bank - some banks are to be punished for not investigating complaints properly and for rejecting genuine complaints.

Now in regards of cancelling, this is of course your choice, but the other way is to keep it going until the FOS resolve this, so you then receive every penny, plus interest, and also 8% int of what court would award for being deprived of your money.
The choice if yours of course.
However, it may take some time before your complaint is investigated due to the high volumes of complaints.

If your in any hardship though let the FOS know, and request for fast tracking.

Good luck with this.;)