PPI Reclaiming Discussion part 4

Bubbaboy

Hi
sorry if this has been asked before!
I received my SAR from Capital One CC today along with a copy of my credit agreement dated 1998 whereby I have ticked for the PPI. But looking through the statements (from 1999) the PPI does not show as being charged until October 2001, surely it should show when I first used the card in 1998/99?
I am now going to send them the refund request, do I need to note the actual amounts of PPI and also I've been charged late payment fees of £18 & £20 do I just ask for the difference (i.e £12 max) or will they work this out?
thanks in advance x

di3004

Bubbaboy wrote: »

Hi
sorry if this has been asked before!
I received my SAR from Capital One CC today along with a copy of my credit agreement dated 1998 whereby I have ticked for the PPI. But looking through the statements (from 1999) the PPI does not show as being charged until October 2001, surely it should show when I first used the card in 1998/99?
I am now going to send them the refund request, do I need to note the actual amounts of PPI and also I've been charged late payment fees of £18 & £20 do I just ask for the difference (i.e £12 max) or will they work this out?
thanks in advance x

Hi there

I assumed it would show on the payments/statements etc.

Are you actually completing the FOS questionnaire to make a reclaim?

You will find this on the link below, click on that and further down that page you will find the FOS questionnaire as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

You complete and send to whoever is responsible for setting up your policy, and keep a copy for yourself as well.
You do not have to give any figures as they should have hold of these on data, and you are allowed to request for a detailed written breakdown if you want to, for instance on an offer of the refund.

They have 8 weeks in full to respond, some ask for more time, this is okay too, just as long as you know where you are.

You can write a cover letter if you want to, if you've further information to give, but the FOS questionnaire should be appropriate.

Hope this helps, good luck with this.:)

only_mee

Why bother using a claiming company when you can do it yourself?
You also get all the money rather than giving then a large percentage for what is really a letter and a stamp, or a you a troll?

Elumonq

Hello,

Does anyone know whether there is a deadline for claiming for the refund of the mis-sold PPI?
I hear in a TV's ad Gladstonebrookes.com saying: Hurry up before claiming expires!!

I am in the beginning of the process for claiming for a mis-sold PPI on a personal loan provided by The Funding Corporation Limited on July 1st, 2004. As I see it now, it seems to be a very long way to hell and I have no idea how long this process will take.

That's why I am asking if there is a deadline.

Thanks for your precious help.

Best regards.

di3004

Elumonq wrote: »

Hello,

Does anyone know whether there is a deadline for claiming for the refund of the mis-sold PPI?
I hear in a TV's ad Gladstonebrookes.com saying: Hurry up before claiming expires!!

I am in the beginning of the process for claiming for a mis-sold PPI on a personal loan provided by The Funding Corporation Limited on July 1st, 2004. As I see it now, it seems to be a very long way to hell and I have no idea how long this process will take.

That's why I am asking if there is a deadline.

Thanks for your precious help.

Best regards.

Hi there


This may just be a way to get you to go with them so they can hurry and have a claim to deal with.

But I would give it a go anyway with your reasons by completing a FOS questionnaire, complete and send to whoever responsible, keep a copy for your records, they have 8 weeks in full to give a decision.
Hope this helps, good luck.

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

Another thing, by having a go yourself your only paying for the cost of posting at your post office, and if successful you get to keep all your refund.

Lots have had problems using claims companies.

Good luck.;)

Elumonq

di3004 wrote: »

Hi there


This may just be a way to get you to go with them so they can hurry and have a claim to deal with.
....
Good luck.;)

Thanks di for your prompt reply.
I know that you are quite knowledgeable in this subject, because I read a lot of your posts on the PPI threads.

I do not know whether you can help!

- I read in some posts that the PPI maybe considered mis-sold if it was a single premium.
How can I confirm that was a single premium or not?
On the Credit Agreement, under the section 3) Financial Particulars, it is listed in the following way:

PPP Premium cash price: (A) £1550.00
Principal loan: (B) £5000.00
Amount Of Credit (A)+(B): (C) £6550.00
Interest: (D): £2550.20
Arangement Fee (E): £40.00
Total Charg For Credit (D)+(E): (F) £2590.20
Total Amount Payable(C)+(F): £9140.20
Amount Payable: one repayment of 40.00 payable 1 month, followed by 60 monthly repayment each of 151.67. APR 13.9%

- I have already sent the first letter to the lender (The Funding Corporation) who responded after just 9 days saying that they will not be refunding the premiums giving the same usual reasons and pointing out that they do not fall under the jurisdiction of the FOS because at the time when the loan was taken they were not regulated by the FSA.

Do you have an idea about the next step that I need to take?

Thanks in advance for your help.

Cheers.

tshuks

hallo, please l need your help. l got an credit card with monument since 2005. got the card on a shopping mall, it was quick and couldn't believe my luck. nway to my surprise only to find out that my card has ppi. never new about it andthere was a time when l had a hard time paying it, all they did is call me and ask for their money and them xtra charges. Nway recently l phoned them and asked of the details of my card and theyu juss couldnt answer my questions at all. Waal got hold of website and 've written a complaint and cancelled the ppi altogether. but now my worry is how much should l settle for, that is if they offer to repay back.
monument credit card. max -500pounds and l've had it since april 2005 to 2010 august. approximation wud do

di3004

Elumonq wrote: »

Thanks di for your prompt reply.
I know that you are quite knowledgeable in this subject, because I read a lot of your posts on the PPI threads.

I do not know whether you can help!

- I read in some posts that the PPI maybe considered mis-sold if it was a single premium.
How can I confirm that was a single premium or not?
On the Credit Agreement, under the section 3) Financial Particulars, it is listed in the following way:

PPP Premium cash price: (A) £1550.00
Principal loan: (B) £5000.00
Amount Of Credit (A)+(B): (C) £6550.00
Interest: (D): £2550.20
Arangement Fee (E): £40.00
Total Charg For Credit (D)+(E): (F) £2590.20
Total Amount Payable(C)+(F): £9140.20
Amount Payable: one repayment of 40.00 payable 1 month, followed by 60 monthly repayment each of 151.67. APR 13.9%

- I have already sent the first letter to the lender (The Funding Corporation) who responded after just 9 days saying that they will not be refunding the premiums giving the same usual reasons and pointing out that they do not fall under the jurisdiction of the FOS because at the time when the loan was taken they were not regulated by the FSA.

Do you have an idea about the next step that I need to take?

Thanks in advance for your help.

Cheers.

Hi there

And not a problem, I will try.;)

First of all was The Funding corporation the ones who set up and sold you the policy?
As you will know you pursue the ones who set the loan up in the first place, so if this is the case and they have let you down by stating that they the FOS are unable to help because the business were not regulated at the time of when you taken out the loan, i would still give them a ring anyway.
The FOS are likely in these cases to suggest to pursue the underwriter/insurer who would have been regulated, and the fos can then take on your complaint.
They are also trying to make the insurer liable as well, so its worth you still making contact with the fos.
http://www.financial-ombudsman.org.uk/contact/index.html

Your loan looks like ppi was pushed in with the monthly repayment, so this would therefore be classed as a single premium, and you pay the cost upfront with the loan, very costly and frowned upon.

More on Single premium policies below....
http://www.fsa.gov.uk/pages/consumerinformation/unfair_contracts/uct_term_changes/ppi_information.shtml

di3004

tshuks wrote: »

hallo, please l need your help. l got an credit card with monument since 2005. got the card on a shopping mall, it was quick and couldn't believe my luck. nway to my surprise only to find out that my card has ppi. never new about it andthere was a time when l had a hard time paying it, all they did is call me and ask for their money and them xtra charges. Nway recently l phoned them and asked of the details of my card and theyu juss couldnt answer my questions at all. Waal got hold of website and 've written a complaint and cancelled the ppi altogether. but now my worry is how much should l settle for, that is if they offer to repay back.
monument credit card. max -500pounds and l've had it since april 2005 to 2010 august. approximation wud do

Hi and welcome

I would try to keep everything in written correspondence, so ask them to send you a detailed breakdown of the calculations.
This way you will know if the amount is fair or not.

Did you request for Subject access request (SAR), there is a letter template for this, where they have 40 calendar days to comply and send all the details they hold on your account.
However, for this request you enclose £10 cheque or postal order.
Template here for this....
https://forums.moneysavingexpert.com/discussion/1475553

If your not happy with an offer by the time they issue you with a final decision, you should be entitled to make a complaint to the financial ombudsman service (FOS), but please be aware it may take some time before your complaint is investigated - due to the volumes of complaints they are dealing with.

Good luck with this.

ceefercat

I wrote to Tesco bank and HFC regarding PPI on loans I have with both of them and I received nearly £5000 from HFC without a fight from them - which included interest at 8% - and Tesco said I'm covered for pre-existing conditions. I wish I'd realized that 2 years ago when my MS became too bad for me to work at that time, but I'm in the process of making a new claim now as I was in hospital in July.

I am SO relieved but I'm also amazed as I'm a born pessimist with very little self confidence. And if I can do it, anyone can!! For the price of 2 stamps I received a very useful sum of money and information which will allow me to make a claim.

Julie