PPI Reclaiming Discussion part 4

di3004

amersall wrote: »

Oooh :eek::eek: We cant have you disconected di :eek::eek: We need your brain and speed And i dont mean the drug :rotfl::rotfl::rotfl:
Am i right that if a firm used a broker for a loan and the broker is bust, and the loan is not covered by the fscs (2001) then is it possible to still go for the insurer?.

lmao......:rotfl::rotfl::rotfl: well i certainly have not got any speed tonight :eek::o:rotfl::rotfl:

And yes your correct amersall XXX:beer:

terry3980

6wks ago i had a heart attack and i had took out ppi on a loan from BLACKHOURSE i phone them and they agreed to make my payments the thing i did not know was i had to carry on with my payments and they would claim them back off the ppi ,as i do not know when i am going to return to work and only getting £79wk iwill not have enought funds in my bank to keep up payments,i took out ppi knowing i could not repay my loan if i came out of work and nothing was metioned about me having to keep up payments when i took out the ppi just wonderd where i stand and as anyone else come acroos this TERRY

di3004

terry3980 wrote: »

6wks ago i had a heart attack and i had took out ppi on a loan from BLACKHOURSE i phone them and they agreed to make my payments the thing i did not know was i had to carry on with my payments and they would claim them back off the ppi ,as i do not know when i am going to return to work and only getting £79wk iwill not have enought funds in my bank to keep up payments,i took out ppi knowing i could not repay my loan if i came out of work and nothing was metioned about me having to keep up payments when i took out the ppi just wonderd where i stand and as anyone else come acroos this TERRY

Hi Terry

So sorry to learn of your issues and hope your well on the road to recovery by now.

That is the thing with this type of policy, even though they will make the ppi repayments, they still continue to debit the full loan amount every month.

What I would do is write to them as soon as you can, explain your situation here, tell them the money your receiving whilst on sickness will not cover the full amount of loan repayments, and see if other suitable arrangements could be made.

Maybe a friend will write to them on your behalf, or to take the burden from you a little due to your health, maybe your local CAB will do this for you.

Good luck with this and wishing you a speedy recovery.;)

amersall

di3004 wrote: »

lmao......:rotfl::rotfl::rotfl: well i certainly have not got any speed tonight :eek::o:rotfl::rotfl:

And yes your correct amersall XXX:beer:

Cheers dears :A:A knew you would know :D

amersall

terry3980 wrote: »

6wks ago i had a heart attack and i had took out ppi on a loan from BLACKHOURSE i phone them and they agreed to make my payments the thing i did not know was i had to carry on with my payments and they would claim them back off the ppi ,as i do not know when i am going to return to work and only getting £79wk iwill not have enought funds in my bank to keep up payments,i took out ppi knowing i could not repay my loan if i came out of work and nothing was metioned about me having to keep up payments when i took out the ppi just wonderd where i stand and as anyone else come acroos this TERRY

Hi there, my son had ppi and the exact same thing happened to him, he had to find the loan payment, and then wait for it back from the ppi. If you are unable to pay this upfront (although you will have to pay the month while you are waiting for ppi to kick in) give the loan company a ring and tell them that you want to put a claim in for mis sell, for the reason you state above, (if you do not pay the loan each month, then this will go on your credit file as a missed payment). Put a claim in for mis sell as you are right here, nothing on a ppi agreement says that you have to keep paying the loan and wait for the ppi to pay it to you. How on earth do they think you can find loan payments when you are on jsa or ssp. Give it a go.

di3004

amersall wrote: »

Cheers dears :A:A knew you would know :D

Your welcome honey.:A:A

However, it may take some time though, mine have been with them since October 2009 and passed on to an adjudicator a few months back, so we shall see what happens XXXX:D

Mikey1414

Mikey1414 wrote: »

Very many thanks for this - your assistance very much appreciated and indeed the website as a whole - without this I wouldn't be getting the money back - thanks, it really means a lot :-)

Additionally - please can you confirm that the interest amount quoted £588 is correct given that the loan was only running for six months ? I'm sure that detailed correct I just wish to be doubly sure. Thanks for your assistance.

Mike.

mouikey

Hi,
A while ago I posted about reclaiming the PPI on an Abbeyloan I had taken out in July 2005. However, things got in the way and I was unable to start the process... but I'd like to know and would be grateful for some advice.

In essence my Abbeyloan was taken out in 2005 (£20,000) for 7 years with PPI at £4,530.60 which was added to the cost of the loan. Therefore the total amount I would have to pay for PPI is £5,599.44 including interest. This was an upfront cost (I believe). Is it still possible to make a claim based on the PPI being put on upfront? Will I have to cancel the PPI first? In term of refund/reclaim amounts, what should I be expecting to receive?

I assume I should follow thestandard approach on the website? Also my name has changed since taking the loan out... should I change this first?

Thanks in advance.
M

amersall

mouikey wrote: »

Hi,
A while ago I posted about reclaiming the PPI on an Abbeyloan I had taken out in July 2005. However, things got in the way and I was unable to start the process... but I'd like to know and would be grateful for some advice.

In essence my Abbeyloan was taken out in 2005 (£20,000) for 7 years with PPI at £4,530.60 which was added to the cost of the loan. Therefore the total amount I would have to pay for PPI is £5,599.44 including interest. This was an upfront cost (I believe). Is it still possible to make a claim based on the PPI being put on upfront? Will I have to cancel the PPI first? In term of refund/reclaim amounts, what should I be expecting to receive?
DO NOT CANCEL THE PPI, YOU WILL BE GIVEN A NEW LOAN WITH LONGER TERM AND APR.You can claim for frontloaded ppi, check for other reasons as well.Someone who is good with calcs will, i am sure will be along to help you with the calculations
I assume I should follow thestandard approach on the website? Also my name has changed since taking the loan out... should I change this first?
All you have to do is claim in the name you took the loan out, give that address if this is different to where you are now, and put a covering letter in with your new name and address details with an explanation of this.
Thanks in advance.
M

mouikey

Thanks for the previous reply... one quick question, having been sold an upfront policy, should I cancel it? This is what is says on the questionairre guide (which is what I would be claiming under?):

[FONT=&quot]If misselling is due to being sold a single premium policy[/FONT]
[FONT=&quot]I paid a single premium for my policy but did not see it through to the end of it’s initial term after [select from paying back my loan earlier than planned on the [insert date] / cancelling the insurance before the end of my loan agreement on the [insert date] / a change in my circumstances meant I was no longer eligible for the insurance from the [insert date] and I informed you of this at the time]. [/FONT]

If I need to cancel, I'll have to get onto them ASAP!
Thanks again
M