PPI Reclaiming Discussion part 4

di3004

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:)

Hi and welcome

What about monthly bank statements?
Any ppi should be enclosed on these, and as Halphy says she can request for a copy of the agreement by writing a simple letter, ask that they supply by 12 days and a payment of £1 postal order or cheque payment is enclosed.

However, just as long as she has the account number, she can continue to make a reclaim, by completing the FOS questionnaire, as shown on link added below, further down the page as stage one, keep a copy for herself as well, and send to whoever was responsible for selling the policy.
They have 8 weeks in full to respond with a decision.
Good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

amersall

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 there and welcome, is there a chance you will have to redo this loan if you cancel the insurance? if there is then dont cancel when you win mis sell you get all ppi monthly payments made to date with interest and the ppi total is taken off your loan and your loan reset to the same term and apr.If you cancel the insurance you will have to take a new loan out with a new term, and you can bet a higher apr, the rebate you get for cancelling the ppi will be taken off your win and you will also have a longer loan term and apr.So the best way to go is mis sell.

di3004

TheRealDeal wrote: »

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% ?

Hi and welcome

I think this may differ to loan ppi, but cannot remember exactly, you could check on the thread below added by Maxdp, of how the FOS calculated ppi refunds, this should give more detail.
https://forums.moneysavingexpert.com/discussion/1596473

To make a reclaim for whatever reason(s) you have for being mis sold, the first template reclaiming letter have been replaced to a FOS questionnaire on this site.
So complete this and send to whoever sold and set up your policy, keep a copy for yourself too.
They have 8 weeks in full to respond.

The questionnaire is lower down the page on the added link below, as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck and ask for any help when required.:)

Jomo

Hi there,

I've just had somebody round from Consumer Money Matters Ltd and they want 25% plus a hefty admin fee for reclaiming my PPI.

I've just turned them away saying I need to think about it, they offered to drop the admin fee at that point, funnily enough.

They claim that they are treated differently by the banks in that they are more likely to retrieve more money than if we were to go and do it ourselves.

Does anybody know if this is right?

Also, they say they reclaim the original premium, the interest payable over term and an inconvenience interest calculated at 8% pa. Is this baloney or not and if not do they pay this out if we try and reclaim ourselves?

I have two claims which could be a really good payout in all.

Thanks

di3004

Jomo wrote: »

Hi there,

I've just had somebody round from Consumer Money Matters Ltd and they want 25% plus a hefty admin fee for reclaiming my PPI.

I've just turned them away saying I need to think about it, they offered to drop the admin fee at that point, funnily enough.

They claim that they are treated differently by the banks in that they are more likely to retrieve more money than if we were to go and do it ourselves.

Does anybody know if this is right?

Also, they say they reclaim the original premium, the interest payable over term and an inconvenience interest calculated at 8% pa. Is this baloney or not and if not do they pay this out if we try and reclaim ourselves?

I have two claims which could be a really good payout in all.

Thanks

Hi there

I certainly would not trust any claims company myself, and they will try all sorts on to try to get you to sign with them.

I have not heard of them to be honest and you can always check them out with the Ministry of justice (MOJ) who will tell you more of the company, but I would still be very wary.
http://www.justice.gov.uk/contactus.htm

And not only that, this can be done all free from this site, with only a matter of completing a FOS questionnaire (these replaced the first template reclaiming letter), you just complete, send to whoever set up and sold you the policy, keep a copy as well for yourself, in case you need to complain to the FOS later on, and they have 8 weeks in full to respond.

You will come across the questionnaire as stage one of reclaimning, on link added below, further down the page here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

This way you get to keep all your money/ppi, interest, also 8% interest of what a court would award for being deprived of your money.
They may try it on with an offer, but can do the same with claims companies, keep at them with your reasons you have for being mis sold and you will eventually get there.

In my personal opinion, going from what I have read, many are promised this and that, and still waiting 2 years or so down the line, and then still have to pay out.

So its worth thinking about giving it a go yourself if you can, hope this helps, good luck.;)

dawniedot

Is the reclaim section no win no fee a part of moneysaving expert.com?

di3004

dawniedot wrote: »

Is the reclaim section no win no fee a part of moneysaving expert.com?

Hi and welcome

No it is not the same, there is a thread down below somewhere where many have asked this, so please do not get confused.

Glad you have asked though.;)

If you did want to make a reclaim, you can do this all free, and all help from this site is all free.

Check out more info here below, you will find a FOS questionnaire to complete for the first stage, below the page as stage one:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Complete and send to who sold you the policy, keep a copy as well, they have 8 weeks in full to respond.

And if you require further help from here, just give us a yell - all free,.:)

Jomo

di3004 wrote: »

Hi there

I certainly would not trust any claims company myself, and they will try all sorts on to try to get you to sign with them.

I have not heard of them to be honest and you can always check them out with the Ministry of justice (MOJ) who will tell you more of the company, but I would still be very wary.
http://www.justice.gov.uk/contactus.htm

And not only that, this can be done all free from this site, with only a matter of completing a FOS questionnaire (these replaced the first template reclaiming letter), you just complete, send to whoever set up and sold you the policy, keep a copy as well for yourself, in case you need to complain to the FOS later on, and they have 8 weeks in full to respond.

You will come across the questionnaire as stage one of reclaimning, on link added below, further down the page here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

This way you get to keep all your money/ppi, interest, also 8% interest of what a court would award for being deprived of your money.
They may try it on with an offer, but can do the same with claims companies, keep at them with your reasons you have for being mis sold and you will eventually get there.

In my personal opinion, going from what I have read, many are promised this and that, and still waiting 2 years or so down the line, and then still have to pay out.

So its worth thinking about giving it a go yourself if you can, hope this helps, good luck.;)

Do I need copies of my statements to get a general idea of what is owed?

di3004

Jomo wrote: »

Do I need copies of my statements to get a general idea of what is owed?

Hi there
No not really, you can request for them if you want to, and they may only provide these if you request a Subject Access Request (SAR), you enclose £10 cheque or postal order and they have 40 calendar days to comply.
SAR Template letter:
https://forums.moneysavingexpert.com/discussion/1475553

However, you can request for a written breakdown by post if you want to, especially if successful.;)

amersall

Jomo wrote: »

Hi there,

I've just had somebody round from Consumer Money Matters Ltd and they want 25% plus a hefty admin fee for reclaiming my PPI.

I've just turned them away saying I need to think about it, they offered to drop the admin fee at that point, funnily enough.

They claim that they are treated differently by the banks in that they are more likely to retrieve more money than if we were to go and do it ourselves.

Does anybody know if this is right?

Also, they say they reclaim the original premium, the interest payable over term and an inconvenience interest calculated at 8% pa. Is this baloney or not and if not do they pay this out if we try and reclaim ourselves?

I have two claims which could be a really good payout in all.

Thanks

:eek:What a load of old sh*t, that is a statutory payout to any one who wins mis sell gets:rotfl::rotfl:they have no more power or influence over banks than you or i :D:D do it your self :cool: or even better i will do it for 80% of your win i have more power over the ceo of every financial institution in the whole world :p i can 100% guarantee that i can get you all your ppi refunded to date, the interest on those amounts plus 8% :cool: and i can get your loan reset (if it is still running) with the ppi removed and lower your monthly payment by the ppi amount ;) how good does that sound?:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl: