PPI Reclaiming Discussion part 4

amersall

balanagdara wrote: »

Hi there,

I took a loan in 2006 from Santander (Abbey), still I am paying the loan with PPI every month. I never claimed it. Now i am thinking to pay off the full amount (Settlement figure) before third week of Dec.2010. Even if my loan account is closed, still can I claim PPI?. Already I contacted the bank couple of days ago, they said I can't claim PPI. But gone through this website and felt happy by seeing the information about the claim.

still can I claim the PPI? if I close my loan account.

Can any one or you please suggest me at it is a big amount for me.

Many thanks in advance for the help.


Thanks and Regards

It doesnt matter if the loan is closed, you can still claim mis sell if you have good reasons. If you win mis sell then your refund will be less any rebate that they gave you when the loan was settled and you will get all ppi paid to date back. Good luck and keep us posted.

mm289

Hi all,

First post here and a quick question having read the MSE guidance and a number of posts on this subject.

I took a General Accident Protect Direct policy out in 1997 to cover sickness, accident and unemployment for my mortgage payments. At the time I was in full time employment.

In 2004 I started a business as a Limited Company with myself as director and salaried via PAYE.

At this time I notified Norwich Union who had taken over the policy and they confirmed I was still covered and would be treated as a self employed director.

The business is struggling and I am having to go onto Job Seekers Allowance and make myself redundant so wish to claim.

The policy booklet covers 2 status's of unemployment namely an employee made redundant and a self employed. For self employed the claim criteria states that:
"must provide evidence that you stopped working because you could not find enough work to meet your reasonable business and living expenses and that you have declared this to the Inland Revenue"

On contacting Aviva to make a claim they are stating that they can only pay out if the Limited Company of which I am a director is forced into liquidation by a third party.

Not only is this condition not in the policy document, but it would also potentially mean I would have to not pay bills to creditors so they forced liquidation and potentially sue me and force personal bankruptcy - not something I want to do.

Aviva seem to be applying a term that is not in the policy and was not notified to me at the point in which I changed my employment status in 2004 and I wondered if this would be regarded as "misselling".

Any thoughts or similar experiences gratefully recieved.

Thanks

MM289

mollymoo96

just had a letter saying a&l Mortage ppi been up held paid over 13 years I think £3.200 any one know how much I,ll get back ?

amersall

mm289 wrote: »

Hi all,

First post here and a quick question having read the MSE guidance and a number of posts on this subject.

I took a General Accident Protect Direct policy out in 1997 to cover sickness, accident and unemployment for my mortgage payments. At the time I was in full time employment.

In 2004 I started a business as a Limited Company with myself as director and salaried via PAYE.

At this time I notified Norwich Union who had taken over the policy and they confirmed I was still covered and would be treated as a self employed director.

The business is struggling and I am having to go onto Job Seekers Allowance and make myself redundant so wish to claim.

The policy booklet covers 2 status's of unemployment namely an employee made redundant and a self employed. For self employed the claim criteria states that:
"must provide evidence that you stopped working because you could not find enough work to meet your reasonable business and living expenses and that you have declared this to the Inland Revenue"

On contacting Aviva to make a claim they are stating that they can only pay out if the Limited Company of which I am a director is forced into liquidation by a third party.

Not only is this condition not in the policy document, but it would also potentially mean I would have to not pay bills to creditors so they forced liquidation and potentially sue me and force personal bankruptcy - not something I want to do.

Aviva seem to be applying a term that is not in the policy and was not notified to me at the point in which I changed my employment status in 2004 and I wondered if this would be regarded as "misselling".

Any thoughts or similar experiences gratefully recieved.

Thanks

MM289

Hi there, i personally think you have a claim. It sounds like others on here that have been in employment then gone self employed, that the insurance is not valid unless your business has gone bust. Check the link i have posted you will find all you need to know to put a claim in. Dunstonah who knows his stuff with mortgage ppi will hopefully come on and guide you further. If i were you though i would put a claim in.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

oneeyejohnson

I have received a letter from MBNA since sending them the FOS questionairre regarding PPC and this is their response:

I regret that we are unable to agree with all the points that you have made in your complaint on this occasion. However, we would like to bring the complaint to a resolution in a timely manner. In order to provide you with a satisfactory outcome we have decided to settle the complaint with a refund of overpayments made as a result of the PPC, plus interst at 8% where requested, as a gesture of goodwill.

We will be in contact within the next six weeks to confirm the full details of the refund. In line with our normal business practice, a cheque, payable to you will be issued under separate cover.

I hope you find my response acceptable and regret any inconvenience that this matter has caused. We have no exhausted our complaints process; therefore I must inform you that this is our final response on the matter. If you remain dissatisfied with the response, you may refer your complaint to the FOS, within six months of the date of this final response.

Now the above letter was received on the 6th October, 2010 and since then I have received nothing in the way of a cheque for the refund as stated, i have however received 4 letters confirming the account has been closed and the direct debit cancelled. What should I do? Did I need to write back accepting this offer? Any help in what to next would be appreciated. The amount of the insurance advance was £2,390.73 + their 8% = £2,581.99 to be refunded which I am happy with.

ratbag123_2

hi, am new to this site so apologies if i have put this in the wrong place,
i am after advice on claiming ppi back from welcome finance ltd, i have a ongonig loan with them which has approx 6 months left to run (loan was taken out over three years), i telephoned them today to cancel the ppi for the remaining 6 mths, and ammend my monthly payment (currently £305), they told me that they couldnt cancel straight away and they would contact there head office and send a form out to me
and that they couldnt just take the payment off because it would show up has arrears on my account and effect my further credit rating,
therefore i needed a new account sending to me??
My query is if ppi is not compulsory why cant they just take the payment off and cancel the policy why does it take so long,
i am also in the process off claiming my ppi back from this loan and a previous one (which i paid back after 4 months but they still charged £1500 ppi), any help with this matter will be gratefully recieved, thank you

amersall

oneeyejohnson wrote: »

I have received a letter from MBNA since sending them the FOS questionairre regarding PPC and this is their response:

I regret that we are unable to agree with all the points that you have made in your complaint on this occasion. However, we would like to bring the complaint to a resolution in a timely manner. In order to provide you with a satisfactory outcome we have decided to settle the complaint with a refund of overpayments made as a result of the PPC, plus interst at 8% where requested, as a gesture of goodwill.

We will be in contact within the next six weeks to confirm the full details of the refund. In line with our normal business practice, a cheque, payable to you will be issued under separate cover.

I hope you find my response acceptable and regret any inconvenience that this matter has caused. We have no exhausted our complaints process; therefore I must inform you that this is our final response on the matter. If you remain dissatisfied with the response, you may refer your complaint to the FOS, within six months of the date of this final response.

Now the above letter was received on the 6th October, 2010 and since then I have received nothing in the way of a cheque for the refund as stated, i have however received 4 letters confirming the account has been closed and the direct debit cancelled. What should I do? Did I need to write back accepting this offer? Any help in what to next would be appreciated. The amount of the insurance advance was £2,390.73 + their 8% = £2,581.99 to be refunded which I am happy with.

First of all well done on your win :T:T I would give them a ring as that will be faster, they will let you know what is happening and what you will expect back in the form of a cheque (i assume the loan or cc was repaid from this win?). They say in the letter that they will be in contact within 6 weeks, they have not asked you to sign an acceptance and send it back, so they are dealing with this. Let me know how you get on.

di3004

oneeyejohnson wrote: »

I have received a letter from MBNA since sending them the FOS questionairre regarding PPC and this is their response:

I regret that we are unable to agree with all the points that you have made in your complaint on this occasion. However, we would like to bring the complaint to a resolution in a timely manner. In order to provide you with a satisfactory outcome we have decided to settle the complaint with a refund of overpayments made as a result of the PPC, plus interst at 8% where requested, as a gesture of goodwill.

We will be in contact within the next six weeks to confirm the full details of the refund. In line with our normal business practice, a cheque, payable to you will be issued under separate cover.

I hope you find my response acceptable and regret any inconvenience that this matter has caused. We have no exhausted our complaints process; therefore I must inform you that this is our final response on the matter. If you remain dissatisfied with the response, you may refer your complaint to the FOS, within six months of the date of this final response.

Now the above letter was received on the 6th October, 2010 and since then I have received nothing in the way of a cheque for the refund as stated, i have however received 4 letters confirming the account has been closed and the direct debit cancelled. What should I do? Did I need to write back accepting this offer? Any help in what to next would be appreciated. The amount of the insurance advance was £2,390.73 + their 8% = £2,581.99 to be refunded which I am happy with.

Well done to to you, that is fab.
Congratulations!:beer:

And I would also do as amersall says, good luck.

oneeyejohnson

Di & Amersall. Thanks for your replies. I will give them a ring and let you know the outcome. I actually finished repaying the loan on 20th January, 2009, almost two years ago so the amount I get back should be the entire amount of the insurance which was £2,390.73 + their 8% = £2,581.99. Thanks again

Pompeymac

Currently trying to reclaim PPI back from MBNA, they have kept to date so far with information etc but have now received a letter stating they are unable to provide a final response this being based on FSA policy statement on PPI complaints and guidance published by the FOS and that being subject to legal proceedings between the BBA, FSA and FOS. They are parking my claim until the legal proceedings have been completed.

Is this a stalling technique or do I just have to sit it out?

Thanks