PPI Reclaiming Discussion part 4

di3004

jojo_doddi wrote: »

Hi there,

I just had a phone call about PPI insurance and was told that I may not be covered by the insurance I have taken out because I was entitled to sick pay from work and therefore this would have meant I couldn't claim on the insurance. The person was from one of these no win no fee companies so I didn't agree to anything with them, but it has got me worried to think I have insurance that will not cover me...does anyone know anything about this? Any advice would be appreciated!!

Thanks,

Joanne

Hi Joanne

Thanks for posting up.

Personally I would not bother and use a claims company, be very careful - they will try anything to have you to sign with them, and I would also check your own policy details as well if you have them, if you no longer have these, then the business who you have your loan with should supply them free to you on request.

Lots on here have had problems using them, there are lots of links on this thread you may want to check through.

If you have been mis sold for any reason, then I would give it a go yourself, its all free, with help from this site, and you only pay for the posting at your post office, where recorded delivery is recommended.

Check Martin's link below, its very useful, it includes the checklist of mis selling reasons, and below the page a FOS questionnaire, this is in replacement of the first template letter, keep a copy of the questionnaire in case you need to refer to it later on.
They have 8 weeks to respond, they may ask for more time, which is fine.
If they don't resolve to your favour by a final decision, then you should be able to complain to the FOS, where then you would complete the FOS complaints form.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

These questionnaires were recently issued by the financial ombudsman service (FOS).
You send to whoever was responsible for setting up and selling you the policy.

Hope this helps, and ask for any help when required, good luck.;)

nickybutch

Marshallka,
If you could give me your email address then I would download my copies of my letters from Egg including the breakdown of my loan account from 2006 to present and see if you work it out.
I have been in an IVA since March 2007 and have this as my MAIN creditor (The biggest amount £12,517.29), the other creditors are less than £8000 in total.
Look at the dates on all of the letters and see if you can make sense of it. I can't.
Under the NEW FSA regarding PPI disputes, the banks SHOULD pay you an EQUAL sum of your PPI if you paid in full or NOT, if you look at the FSA source book 2010/36 - appendix 3.7 onwards.
I am entitled to the rest of my PPI including the INTEREST in FULL. The total of £1777.96 & £504.01 interest @ 11.33%.
I am updating the FOS by email with this case and I am emailing it to the adjudicator concern who is going to RE-OPEN my earlier complaint against EGG regarding this PPI refund.
2 amounts for the SAME LOAN and NO INTEREST paid back in refund, HOW CAN IT BE CORRECT ?
nickybutch

marshallka

Hi Nickybutch, as you had a top up on this loan and I cannot seem to work out the actual amounts from these agreements I can give you an example of how they work out how much you have paid against the PPI.

If you had a loan and it was settled to at the correct date and you won misselling then you would get back like follows

Loan 8901 (total loan without interest)
PPI 3797.97 (total PPI without interest)
12699 (total loan and PPI)

PPI element being 29.90 if figures above are correct (working by taking the PPI figure of 3797/97 and dividing by the total loan and PPI). Then you would work out how 29.90% of your repayments made and this would be what you actually paid towards the PPI.

Sorry cannot give out my email address but can ask for robbedofmymoney to also take a look here if you like. With these loans being top ups then you would usually have the old loans closed and new ones opened so there would also be rebates, etc to take into account and new opening balances would include elements of PPI from the old loans. It is very complicated but if you had a single loan and it was not yet paid up the above method would be how they would work out your PAID ppi which they "used" to pay back to you in the form of a cheque and then any remaining PPI and interest would then be taken from the loan balance and a new loan drawn up to reflect this.

Will try and bump for someone else to take a look.
I have pm'd Robbedofmymoney to take a look for you so hopefully will post up later. Hold on in there for a little while.

home1975

HELPPPPPP :j
Loan of £9000 in 2005 HSBC
changed it and borrowed more £13000 to pay back
changed it again in 2006 £17000
than I got one more loan added to finish up at £21000 till I said to myself this has got to stop.
The payments are £354 each month to pay off.
I saw a tv advert for RENAISSANCE about mis-sold ppi.
This was way back in April this year.They sent me some forms and off they went.
Heard that they have got letters from the bank saying it is being looked into and now in July the bank didnt respond and they are now looking to get some sort of Ordertar to get this done.
Q1.HAS ANYONE ELSE USED RENAISSANCE, IF SO HAS IT TAKEN THEM THIS LONG TO GET ANYTHING BACK
Q2.DOES ANYONE OUT THERE THINK I WILL WIN PPI BACK BY LOOKING AT THE ABOVE

WISH i FOUND THIS FORUM b4 I found RENAISSANCE

di3004

home1975 wrote: »

HELPPPPPP :j
Loan of £9000 in 2005 HSBC
changed it and borrowed more £13000 to pay back
changed it again in 2006 £17000
than I got one more loan added to finish up at £21000 till I said to myself this has got to stop.
The payments are £354 each month to pay off.
I saw a tv advert for RENAISSANCE about mis-sold ppi.
This was way back in April this year.They sent me some forms and off they went.
Heard that they have got letters from the bank saying it is being looked into and now in July the bank didnt respond and they are now looking to get some sort of Ordertar to get this done.
Q1.HAS ANYONE ELSE USED RENAISSANCE, IF SO HAS IT TAKEN THEM THIS LONG TO GET ANYTHING BACK
Q2.DOES ANYONE OUT THERE THINK I WILL WIN PPI BACK BY LOOKING AT THE ABOVE

WISH i FOUND THIS FORUM b4 I found RENAISSANCE

Hi and welcome

Sorry I've not heard of them at all, and personally I would not use a claims company, due to the fact of the amount of problems people have had using them, and of course they will charge you.

You can do this yourself with no charge, apart from posting at your post office, the the help you will receive from this site is all free.

Follow the link below to the guidelines of reclaiming, if you require any help from there, please just yell.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

robbedofmymoney

nickybutch wrote: »

Marshallka,
If you could give me your email address then I would download my copies of my letters from Egg including the breakdown of my loan account from 2006 to present and see if you work it out.
I have been in an IVA since March 2007 and have this as my MAIN creditor (The biggest amount £12,517.29), the other creditors are less than £8000 in total.
Look at the dates on all of the letters and see if you can make sense of it. I can't.
Under the NEW FSA regarding PPI disputes, the banks SHOULD pay you an EQUAL sum of your PPI if you paid in full or NOT, if you look at the FSA source book 2010/36 - appendix 3.7 onwards.
I am entitled to the rest of my PPI including the INTEREST in FULL. The total of £1777.96 & £504.01 interest @ 11.33%.
I am updating the FOS by email with this case and I am emailing it to the adjudicator concern who is going to RE-OPEN my earlier complaint against EGG regarding this PPI refund.
2 amounts for the SAME LOAN and NO INTEREST paid back in refund, HOW CAN IT BE CORRECT ?
nickybutch

hi nickybutch,

i will pm an e-mail address for you, but delete any personal info before sending anything, let me know when its sent, i'll look over it all and then will probably need to ask you a few questions,
i can then see if i can help you out

cheers

home1975

[/QUOTE]
TKS but I think it's tooo late for this as RENAISSANCE are now dealing with it and it could effect them.

home1975

HELPPPPPP :j
Loan of £9000 in 2005 HSBC
changed it and borrowed more £13000 to pay back
changed it again in 2006 £17000
than I got one more loan added to finish up at £21000 till I said to myself this has got to stop.
The payments are £354 each month to pay off.
I saw a tv advert for RENAISSANCE about mis-sold ppi.
This was way back in April this year.They sent me some forms and off they went.
Heard that they have got letters from the bank saying it is being looked into and now in July the bank didnt respond and they are now looking to get some sort of Ordertar to get this done.
Q1.HAS ANYONE ELSE USED RENAISSANCE, IF SO HAS IT TAKEN THEM THIS LONG TO GET ANYTHING BACK
Q2.DOES ANYONE OUT THERE THINK I WILL WIN PPI BACK BY LOOKING AT THE ABOVE

WISH i FOUND THIS FORUM b4 I found RENAISSANCE

amersall

jj10 wrote: »

Hi Amersall
Hope your ok.
Just been catching up on the last couple of days posts. WOW you have been busy :T
JJx

Hello yes havent i just ?;);) i have that lazy di to thank :rotfl::rotfl:leaving me to my own devices :eek::eek: only kidding di :A:A you know i am :)

amersall

jojo_doddi wrote: »

Hi there,

I just had a phone call about PPI insurance and was told that I may not be covered by the insurance I have taken out because I was entitled to sick pay from work and therefore this would have meant I couldn't claim on the insurance. The person was from one of these no win no fee companies so I didn't agree to anything with them, but it has got me worried to think I have insurance that will not cover me...does anyone know anything about this? Any advice would be appreciated!!

Thanks,

Joanne

Hi joanne and welcome, you can do this yourself if you have any financial product that you believe you were mis sold ppi on you can put a claim in And if i were you i would phone moj about this company for scaremongering. If you decide to go mis sell you will get all the help you need on here. x