PPI Reclaiming Discussion part 4

AlanBro

hi folks

bit of advice/help on understanding if i have a valid ppi claim, im a bit confused by it all.

start of 2005 i had a small fixed sum loan with co-op bank the ppi was included in the repayment amount each month.
ppi was "offerd" as being benefficial, but it was not explained to me that i could get ppi elswhere or ppi could actually be refunded if i cancelled,
not sure if refund applies to the loan i had.


start of 2007 things went a bit pair shaped financially
i had payed most of the initial loan off, so to consolidate a few thing i had a topup loan from the co-op bank with the same terms and conditions,
again no explanation of ppi from another source or refund,


forward to feb 09
to reduce my outgoings i rang the co op bank to ask if could cancel the ppi on my loan, i was informed they couldn't cancel with out recalculating, and there was no mention of refund if that applies the type of loan i had wich.

they sent documents in the post wich i signed and sent back.


i dont have the original loan agrement from 2005 or 2007

i do have the recalculated agreement from 2009


if i do have a claim what would i need to do

thanks Alan

amersall

AlanBro wrote: »

hi folks

bit of advice/help on understanding if i have a valid ppi claim, im a bit confused by it all.

start of 2005 i had a small fixed sum loan with co-op bank the ppi was included in the repayment amount each month.
ppi was "offerd" as being benefficial, but it was not explained to me that i could get ppi elswhere or ppi could actually be refunded if i cancelled,
not sure if refund applies to the loan i had.


start of 2007 things went a bit pair shaped financially
i had payed most of the initial loan off, so to consolidate a few thing i had a topup loan from the co-op bank with the same terms and conditions,
again no explanation of ppi from another source or refund,


forward to feb 09
to reduce my outgoings i rang the co op bank to ask if could cancel the ppi on my loan, i was informed they couldn't cancel with out recalculating, and there was no mention of refund if that applies the type of loan i had wich.

they sent documents in the post wich i signed and sent back.


i dont have the original loan agrement from 2005 or 2007

i do have the recalculated agreement from 2009


if i do have a claim what would i need to do

thanks Alan

Hi there, you could put a claim in for mis sell on the one agreement you have and ask them to look into the 2 previous ones.Failing that send a £1 cheque or postal order and request the other 2 agreements.Just write in your own words that you believe this ppi was mis sold and give your reasons, and that you want ppi paid to date back with interest.Good luck with this and keep us posted x (send recorded delivery)

angie2404

Hi everyone,

I currently have two claims going through with Bank of Scotland. I used the templates from Martins website, They replied after three weeks asking for four further weeks to conduct their investigations. After another three weeks I received another letter saying it was taking longer than anticipated and requesting yet another four weeks for investigation. How long do I wait before taking it a step further? Any help would be appreciated, Thanks.

As a second note, the claims cover a credit card (now paid off) and a loan (still ongoing). Can the bank take both PPI payouts and pay it off the outstanding loan, or do they have to reinburse me for the PPI for the credit card already paid off.

di3004

angie2404 wrote: »

Hi everyone,

I currently have two claims going through with Bank of Scotland. I used the templates from Martins website, They replied after three weeks asking for four further weeks to conduct their investigations. After another three weeks I received another letter saying it was taking longer than anticipated and requesting yet another four weeks for investigation. How long do I wait before taking it a step further? Any help would be appreciated, Thanks.

Hi and welcome

Normally they are entitled to 8 weeks to give a decision, but just as long as they given you a timescale of when you should hear that is okay, but long enough is long enough.
What I would do now is see what happens in the next 3 weeks and if you hear nothing then, threaten them with the FOS, good luck with this.;)

amersall

angie2404 wrote: »

Hi everyone,

I currently have two claims going through with Bank of Scotland. I used the templates from Martins website, They replied after three weeks asking for four further weeks to conduct their investigations. After another three weeks I received another letter saying it was taking longer than anticipated and requesting yet another four weeks for investigation. How long do I wait before taking it a step further? Any help would be appreciated, Thanks.

As a second note, the claims cover a credit card (now paid off) and a loan (still ongoing). Can the bank take both PPI payouts and pay it off the outstanding loan, or do they have to reinburse me for the PPI for the credit card already paid off.

Hi there, if the loan is not in arrears you will get refund to you, they should not take the card ppi off the loan, and as this card is closed you should get the refund back to you. x

di3004

Hi angie, sorry missed the part you edited to add more info, but as amersall says, good luck.;)

ginger5092

Hi Everyone

Wee bit of advise please if anyone can

Took a loan out with First Plus although brokered through Loans.Co.Uk in 2001 for £27000

Also felt obliged to take the PPI cover,which unfortunately did.

After five years I received the premium back,(£6000) but was more than dismayed to find that the PPI instalments were still tagged to the loan instalments,although the cover had ceased.
Have written to First Plus who said it was nothing to do with them and to contact Loans.Co.Uk which I did.

In my very detailed letter I suggested that I had been mis-sold this cover stating many reasons as to why I had come to this conclusion.

Received a letter yesterday,after two months,stating that they were happy with the way that they had sold this cover and that was their full and final response.

I disagree

Anyone advise what steps,if any, I can take now ?

Thank you all in anticipation

di3004

ginger5092 wrote: »

Hi Everyone

Wee bit of advise please if anyone can

Took a loan out with First Plus although brokered through Loans.Co.Uk in 2001 for £27000

Also felt obliged to take the PPI cover,which unfortunately did.

After five years I received the premium back,(£6000) but was more than dismayed to find that the PPI instalments were still tagged to the loan instalments,although the cover had ceased.
Have written to First Plus who said it was nothing to do with them and to contact Loans.Co.Uk which I did.

In my very detailed letter I suggested that I had been mis-sold this cover stating many reasons as to why I had come to this conclusion.

Received a letter yesterday,after two months,stating that they were happy with the way that they had sold this cover and that was their full and final response.

I disagree

Anyone advise what steps,if any, I can take now ?

Thank you all in anticipation

Hi there

Did they enclose details of the financial ombudsman service (FOS), if this was the final decision they should have made this clear and confirm if your able to take your complaint to the FOS or not.

So if this wasn't the final decision, write back and ask them to reconsider, work on their findings on why they rejected your reclaim, and give them about 14 - 21 days to get back.
Otherwise you make a complaint to the FOS by either downloading a complaints form from the FOS website, or ring them to arrange they send the form through the post, remember to enclose copies of correspondence ie: the final decision letter.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

wishing you luck, please keep us posted.
Cheers.;)

ginger5092

Di

Yet again many,many thanks

I will do as you have advised and keep you posted

You are a gem

di3004

ginger5092 wrote: »

Di

Yet again many,many thanks

I will do as you have advised and keep you posted

You are a gem

Your very welcome.;)

Fingers crossed and we look forward to hearing from you. X