PPI Reclaiming Discussion part 4

di3004

peediedj wrote: »

ok all a bit of a mindfield but will try and slowly read it to grasp it.1 question(if thats ok) i have found loan details in joint names(myself and my wife) from nov 2007,it doesnt mention ppi,but it has amount of credit(cash loan),amount of credit(insurance loan)and total amount(the 2 together) is the insurance bit the ppi? if so how do i prove i was mis-sold it? surely its there word against mine,and there a massive institution?

Hiya

Yes its rather a lot to take in sorry lol, but take your time and just concentrate on one at a time.;)

Its the same as PPI, and depending on your circumstances of reclaiming as well, if you believe it was mis sold for any reason you may have, then give it a go.

For example, some loans were sold with these costly rip off policies, say a loan for 15 years, the insurance added would only protect for 5 of those years, but when the five years end, the cover ends, but you still pay for the insurance for the life of the loan, so if you was sold one of these kind of policies then you already have a case, but otherwise you just have to keep at them and try to prove in your own way how you believe the policy was mis sold to you.

Sometimes SAR's come in handy, and may enclose some details of the sale.
Its not always easy, but stand your ground with your reasons.

Another one here, for example, the loan may have been for both yet the insurance would only protect the main first account holder, unfair really but another reason.

Martin's link will explain more:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

peediedj

di3004 wrote: »

Hiya

Yes its rather a lot to take in sorry lol, but take your time and just concentrate on one at a time.;)

Its the same as PPI, and depending on your circumstances of reclaiming as well, if you believe it was mis sold for any reason you may have, then give it a go.

For example, some loans were sold with these costly rip off policies, say a loan for 15 years, the insurance added would only protect for 5 of those years, but when the five years end, the cover ends, but you still pay for the insurance for the life of the loan, so if you was sold one of these kind of policies then you already have a case, but otherwise you just have to keep at them and try to prove in your own way how you believe the policy was mis sold to you.

Sometimes SAR's come in handy, and may enclose some details of the sale.
Its not always easy, but stand your ground with your reasons.

Another one here, for example, the loan may have been for both yet the insurance would only protect the main first account holder, unfair really but another reason.

Martin's link will explain more:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

so if the insurance is the same as the ppi,why are they trying to sell me creditcare gold also?and if its decided they are repaying it back,how much of it do you get back?(sorry for all the questions,sorry if i sound a bit thick)

di3004

peediedj wrote: »

so if the insurance is the same as the ppi,why are they trying to sell me creditcare gold also?and if its decided they are repaying it back,how much of it do you get back?(sorry for all the questions,sorry if i sound a bit thick)

No you don't sound thick, this can be confusing.

I taken it the insurance was with the loan going by your post, but in regards of the creditcare gold is that another type of protection perhaps on top?
What bank is this or company?

And I would ask them for the policy details of the loan, this booklet they should provide free of charge, then see what it entails.

If your successful in reclaiming then you get back what you have paid in insurance, plus interest.

peediedj

also i recall a few years back(2-4) the bank of scotland sold me a critical illness cover policy,it was something rediculous like £80+ a month(if i recall)for me and the wife was for unemployment,illness etc,i never asked for it,think the wife signed it,can we claim for it also?

peediedj

di3004 wrote: »

No you don't sound thick, this can be confusing.

I taken it the insurance was with the loan going by your post, but in regards of the creditcare gold is that another type of protection perhaps on top?
What bank is this or company?

And I would ask them for the policy details of the loan, this booklet they should provide free of charge, then see what it entails.

If your successful in reclaiming then you get back what you have paid in insurance, plus interest.

the insurance is with a company owned by the loanees the bank of scotland,i have all the documents he little bookelt,t+cs etc but is all double dutch to me,the insurance was £7400 and with interest was £9300

di3004

peediedj wrote: »

also i recall a few years back(2-4) the bank of scotland sold me a critical illness cover policy,it was something rediculous like £80+ a month(if i recall)for me and the wife was for unemployment,illness etc,i never asked for it,think the wife signed it,can we claim for it also?

This one is for dunstonh who knows a lot about this type of cover, it maybe worth you starting a new separate thread below for this one, and I'm sure Dunstonh will give you the best advice possible.

peediedj

di3004 wrote: »

This one is for dunstonh who knows a lot about this type of cover, it maybe worth you starting a new separate thread below for this one, and I'm sure Dunstonh will give you the best advice possible.

ok will do,but as its with BOS also wont i just do 1 letter covering everything i have ever had with BOS or do i have to seperate them?

di3004

peediedj wrote: »

the insurance is with a company owned by the loanees the bank of scotland,i have all the documents he little bookelt,t+cs etc but is all double dutch to me,the insurance was £7400 and with interest was £9300

I think that is the same as PPI, but maybe someone will clarify on this, but again if you think it was mis sold do give it a go.

If the policy is worthless to you, for example, maybe a pre-existing medical condition when taken out the loan, then your not able to make a claim on that condition.
Maybe they just added it or made you believe you had to take it as part of being accepted for the loan.
Your employer may have protected you for sickness, and going back to your wife if this was a joint loan, its likely whoever was the first account holder is the only one protected which I assume they had you as first account holder, this would therefore not be fair if your wife was employed but made redundant but yet not covered but still has responsibility of paying the loan as well.

di3004

peediedj wrote: »

ok will do,but as its with BOS also wont i just do 1 letter covering everything i have ever had with BOS or do i have to seperate them?

If all with BOS, its fine to just do one letter, but if you can try to get hold of the account numbers for each one that would be helpful, but otherwise just give them as previously stated as much details as possible.

peediedj

di3004 wrote: »

If all with BOS, its fine to just do one letter, but if you can try to get hold of the account numbers for each one that would be helpful, but otherwise just give them as previously stated as much details as possible.

QUICKLY READING THE TEMPLATE LETTER,I GET THE IMPRESSION IAM ONLY ASKING WHAT INFO THEY have on me,do i hen have to collate this and claim the ppi then? i can only find 1 loan agreement just now but am sure i,ll find other buried away somewwhere