PPI Reclaiming Discussion part 4

dreamer33

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???

Reading this has gave me goosebumps, I really hope things turn out good here nee-naw and wish you and your friend the very best of luck.:A

firstluv

Turboman wrote: »

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

thank you very much for the explaination

betterfortune

I've just foolishly engaged in a very heated discussion with a ppi claims guy at Black Horse. I don't want to have rings run around me - I feel that's happened already - I've had 3 loans from Black Horse - all with ppi - amounting to over £6,000!!! I really feel I was mis sold this as I've already got life insurance and an income protection policy elsewhere - I'm also self employed - the relevant questions of course were never asked and if I was a financial bright spark I wouldn't have been in a Black Horse office taking out a loan in the first place!!! so I didn't think to ask whether I could get the cover elsewhere. However the ostrich is at last taking her head out of the sand and facing up to a few realities. What I really need is some good advice and information if you'd all be so kind from those who have had experience of dealing with this company.

Thanks;)

pinknico

What year were these loans taken out?

Lessard

Turboman wrote: »

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

Thanks. I'll try and gather this info for you today.

masmit

betterfortune wrote: »

I've just foolishly engaged in a very heated discussion with a ppi claims guy at Black Horse. I don't want to have rings run around me - I feel that's happened already - I've had 3 loans from Black Horse - all with ppi - amounting to over £6,000!!! I really feel I was mis sold this as I've already got life insurance and an income protection policy elsewhere - I'm also self employed - the relevant questions of course were never asked and if I was a financial bright spark I wouldn't have been in a Black Horse office taking out a loan in the first place!!! so I didn't think to ask whether I could get the cover elsewhere. However the ostrich is at last taking her head out of the sand and facing up to a few realities. What I really need is some good advice and information if you'd all be so kind from those who have had experience of dealing with this company.

Thanks;)

hi better,
i have had a lot of hassle off blackhorse & have found them too be very hard work.if your loan was after Jan 05 you can do the template letter route.Waiting for thier final response telling you to go to the FOS,this is one way too go, or if your loan was before 05 the FOS will not offer help saying blackhorse were not regulated. my advise too you would be go too a solicitor to stop them messing you around let the experts deal with this company.

jojo1964

di3004 wrote: »

Hi hun and your at the right place.;)

They should have complied by now 12 days is what they have, ring them and tell them you have not received this and if you do not receive this document you have the right to take this matter further.

I have not been in this situation myself but I am sure others have here and may let you know what they done about this, but you should have had this by now in my opinion, good luck and please let us know, cheers.;)

A thought just struck me, even though the letter was signed for, is the address the same as they have had previously? especially as they were taken over by Barclays.

pinknico

Hello Jojo, Di is having computer problems today so a few questions:
Is this FirstPlus? address should be ok but post up the address you sent it to .
Did you just ask for agreement and send£1 ? Or all documents and £10 ?


If you ring them please follow this up with a letter as it is possible they will deny receiving a phone call but a letter can be tracked.
Hopefully Di will be back online soon!

dreamer33

Still waiting for response from MBNA, they returned my letter asking for ppi back (only a small amount) saying I was not authorised to view the account, however they sent my SAR to me before this:mad: have returned my letter so just waiting again now.

pinknico

Still can't get over MBNA sending you that response Dreamer talk about stalling. If the next letter is the same type of thing go straight to the FOS and get them to write to them. xxx