PPI Reclaiming Discussion part 4

di3004

A_Delly wrote: »

Hi Guys,

This is probably a pretty simple question to answer but I don't know?!
I'm just about to start to reclaim PPI for my husbands loan he took out a few years ago (he is away a lot so I'm doing the leg work) but I'm not sure if we will be able to reclaim or how, you see he took the loan out with abbeyloan and now Santander have taken them over I don't know if we can?

Does anyone know?

Thanks

Hi and welcome

You still write to Abbey and then they send it on to the complaints dept with Santander, this is what I know of anyway, but post your reclaiming questionnaire by recorded delivery and keep a check on the 8 weeks.
The questionnaire replaced the letter reclaiming letter on this site, complete send to Abbey head office, keep a copy as well, this is in case you need to refer to it at some point later.
You will find the questionnaire here as stage one of reclaiming:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

You can of course write a cover letter in your own words to enclose with the questionnaire if you want to.

Remember though to get your hubby to sign.

Good luck, please keep us posted.;)

sazscratch

ive recently put in a claim for mis sold ppi insurance to what use to be Freedom Finance for a loan taken out 5 years ago.the final date for reply is 17thoctober.
would i receive a letter before then do you think????
the ppi ran out according to documents i have last year does that mean the policy isnt covered anymore???
just wondering whether to take out a new one to cover the loan.
thanks.xxxx

ps also if i was behind on a loan can they refuse payment or is it seperate????

starwar1

Can someone please try to help me i have send off a claim for missold ppi it's been 8 weeks but i have no letter back from them. I phone them today and they said it was with quality and control and said i would get a letter soon. This is with HFC does any one know what this means will i get a final desision or are they stalling for more time. Has any dealt with HFC before and if so do you think that it being with quality and control may mean they are arranging my refund? Any imput you can give would be very welcome.

amersall

starwar1 wrote: »

Can someone please try to help me i have send off a claim for missold ppi it's been 8 weeks but i have no letter back from them. I phone them today and they said it was with quality and control and said i would get a letter soon. This is with HFC does any one know what this means will i get a final desision or are they stalling for more time. Has any dealt with HFC before and if so do you think that it being with quality and control may mean they are arranging my refund? Any imput you can give would be very welcome.

Hi there, they have acknowledged your claim when you telephoned, give them another week and if you have not heard anything from them give them a ring.There will be someone who has had dealings with these and they will help you better.Good luck with this and i hope you hear good news soon.x

amersall

sazscratch wrote: »

ive recently put in a claim for mis sold ppi insurance to what use to be Freedom Finance for a loan taken out 5 years ago.the final date for reply is 17thoctober.
would i receive a letter before then do you think????
You may hear something before, but at least they are in contact with you.
the ppi ran out according to documents i have last year does that mean the policy isnt covered anymore???
The ppi has finished so you no longer have cover, you can look online for a insurance that will cover you further on this loan.Dont if you can help it, get a expensive one just so you are covered for what you need will suffice.
just wondering whether to take out a new one to cover the loan.
thanks.xxxx

ps also if i was behind on a loan can they refuse payment or is it seperate????

They cannot refuse your claim for mis sell, but if you have arrears and you win, they will take the arrears out of this and if there is any money left you should get this back to you.Good luck with this and please keep us posted.x

di3004

sazscratch wrote: »

ive recently put in a claim for mis sold ppi insurance to what use to be Freedom Finance for a loan taken out 5 years ago.the final date for reply is 17thoctober.
would i receive a letter before then do you think????
the ppi ran out according to documents i have last year does that mean the policy isnt covered anymore???
just wondering whether to take out a new one to cover the loan.
thanks.xxxx

ps also if i was behind on a loan can they refuse payment or is it seperate????

Hi there

You could chase them up with a phone call to ask for an update.

Do not accept any offers by telephone though and inform them "written correspondence only".

You are entitled to complain to the fos if they totally ignore your reclaim once the 8 weeks have passed, but I am aware there are backlogs.
I would get in touch with them first by either ringing as stated above, or a follow on letter.

You do have a good chance here of reclaiming, with being sold the single insurance which your still paying for - for the remaining term of the loan, and its best to be protected.

I would check on Martin's ins link which takes you to a few stand alone companies, you can have a quote online, make sure it suits all your requirements too.
http://www.moneysavingexpert.com/insurance/cheap-loan-insurance

http://www.paymentcare.co.uk/index.php

http://www.britishinsurance.com/index.asp?siteID=981

Good luck with this, please keep us posted, cheers.;)

di3004

starwar1 wrote: »

Can someone please try to help me i have send off a claim for missold ppi it's been 8 weeks but i have no letter back from them. I phone them today and they said it was with quality and control and said i would get a letter soon. This is with HFC does any one know what this means will i get a final desision or are they stalling for more time. Has any dealt with HFC before and if so do you think that it being with quality and control may mean they are arranging my refund? Any imput you can give would be very welcome.

Hi there

I would do as amersall says, wait a little longer if you can, lots on her have had successful reclaims against this company, and I am aware of most companies with backlogs too.

So give them a further week, then chase them up.

Good luck with this.;)

amersall

tg916 wrote: »

Thanks for all your replys, Just to clarify a few points.... original loan APR was quoted at 9.9% and i managed to get it down to 8.9% after pointing out other lender rates and managed to save nearly £50 month on the quoted price. today i was told that the APR will be 9.9% and thats the best deal they can offer as they are setting up a new loan agreement.
Loan is for £12299 over 65 months with the LPI removed (original loan was £14000 over 84 months + £4158 LPI)
The bank is Lloyds and i sent the paperwork back with the claim letter and never recived it back when they replied explaining that they have miss sold the policy.

I decided not to cancel the policy this morning as i thought something's not right and needed to look into it.
My view is, i should not have to get a new loan, but keep the same minus the LPI as they have accepted fault but the lady today said , quote-"it don't work like that". and i was not quite sure what to say next. but surely i should not have to do anything, i have already wasted 3 hours.

So would it be best to start putting things in writing or even emailing Lloyds top man?

Lee

Hi there, go to the top, you won mis sell and the way they are arranging this new loan is wrong.If you had the loan for 48 months and you have paid 8 (this is just an example) then your new loan would have 40 months left to pay, your monthly payment should then be what ever the loan payment was originally without the ppi on and you have the same term left to pay.Dont let them try to get you to pay more money on the loan that you pay already. i said before you should not cancel the ppi as when you have a win the ppi is just taken off the loan and reset as i explained above.Please keep us posted as i would like to see the outcome to this.x

amersall

tg916 wrote: »

Thanks for all your replys, Just to clarify a few points.... original loan APR was quoted at 9.9% and i managed to get it down to 8.9% after pointing out other lender rates and managed to save nearly £50 month on the quoted price. today i was told that the APR will be 9.9% and thats the best deal they can offer as they are setting up a new loan agreement.
Loan is for £12299 over 65 months with the LPI removed (original loan was £14000 over 84 months + £4158 LPI)
Your original loan that was without ppi on was, 189.21 a month? you have paid to date 19 months on this over the original loan term ,so to my calculation (i am not steven hawkins lol) the balance on your old loan should now be 10.405.01and not 12.299. If anyone thinks i am wrong please check this for me.
The bank is Lloyds and i sent the paperwork back with the claim letter and never recived it back when they replied explaining that they have miss sold the policy.

I decided not to cancel the policy this morning as i thought something's not right and needed to look into it.
My view is, i should not have to get a new loan, but keep the same minus the LPI as they have accepted fault
You are right.... this is not the way to do this, this is gross misconduct by lloyds and you must email the fos and the ceo of lloyds and get them to sort this out.

but the lady today said , quote-"it don't work like that".
yes it does work like that luv
and i was not quite sure what to say next. but surely i should not have to do anything, i have already wasted 3 hours.

So would it be best to start putting things in writing or even emailing Lloyds top man?

Lee

marshallka

sazscratch wrote: »

ive recently put in a claim for mis sold ppi insurance to what use to be Freedom Finance for a loan taken out 5 years ago.the final date for reply is 17thoctober.
would i receive a letter before then do you think????
the ppi ran out according to documents i have last year does that mean the policy isnt covered anymore???
just wondering whether to take out a new one to cover the loan.
thanks.xxxx

ps also if i was behind on a loan can they refuse payment or is it seperate????

As regards taking out a new policy to cover your loan are you stating that you did actually want insurance as it seems that way? If it was that you wanted to insure your repayments you can easily get a standalone cover (monthly with no interest) from looking up on google perhaps. ALso check the policy terms and conditions so that you make no mistake of thinking you are actually covered when you are not (ie self employment, medical conditions etc) and also if you have arrears what would happen then if something were to happen with illness, unemployment etc.