PPI Reclaiming Discussion part 4

debtfreeby35?

Hi guys - this is my first post, fingers crossed you can help me out.

I have just opened an annual statement from Egg and have discovered that I am paying PPI. I took it out in 2005 and had no idea I was paying it. I would just bang a few letters off as advised on this site BUT I am in a debt management scheme and therefore have defaulted on my loan agreement. I have never missed a payment but my question is this: if I start complaining about PPI will they just start being 'stroppy' about my repayments to the account? Currently I pay no interest on the loan so would I be shooting myself in the foot to kick up a fuss?

di3004

debtfreeby35? wrote: »

Hi guys - this is my first post, fingers crossed you can help me out.

I have just opened an annual statement from Egg and have discovered that I am paying PPI. I took it out in 2005 and had no idea I was paying it. I would just bang a few letters off as advised on this site BUT I am in a debt management scheme and therefore have defaulted on my loan agreement. I have never missed a payment but my question is this: if I start complaining about PPI will they just start being 'stroppy' about my repayments to the account? Currently I pay no interest on the loan so would I be shooting myself in the foot to kick up a fuss?

Hi and welcome

Try not to worry about this, lots have been in the same situation as you, and remember if you have a payment plan now the ppi would obviously be worthless to you anyway.
However, I would like to state if successful, its possibly they will award the refund towards the debt, anything remaining plus interest should therefore be refunded directly to you.

You would pursue the ones that set up and sold you the ppi, even if this is with a collection company, and all you do is complete a reclaiming questionnaire that replaced the template letter on this site, send to the head office or complaints dept if they have one, and remember to save copies of all you send and receive in case you need to refer to this again at some point.

They normally have 8 weeks to give a decision, they may write to ask for more time, but should keep you informed of the progress of your reclaiming complaint.

You will find the questionnaire on stage one of the link below, you can of course write a letter instead in your own words if you prefer, and you can do this by asking them to refund all you have paid of the PPI since the account opened, plus interest, give your reasons for why you believe you were mis sold, also state as its now on a DMP, the PPI is also worthless to you because your no longer eligible to make a claim for eg, unemployment/Sickness etc.

So do either of the above, of if you want to complete the questionnaire and the other as a cover letter that is optional too, hope this helps good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

Personally I would post by recorded delivery, this is to ensure they received your complaint, and you can then check the status of delivery on Track & Trace via Royal Mail website.

Remember to enclose you agreement number on your reclaims as well.;)

marydash

HI,
Been trying to reclaim my partners ppi insurance payments. The only way we can see that he has a case to reclaim is because his job covered him if he ever was ill or made redundant. This would've provided the same amount of money if not more as the ppi would. So he just didn't need it.

Sent the questionnaire off and have finally got a response from Natwest who haven't even taken into account the reasons we were providing as to why we believed he was missold. Basically denied needing to repay back anything.

However, we are currently working in Australia and it is difficult, with the post, timezones, and the job we do to keep on top of this. So, since that letter we have done nothing. That was at least a month ago. Also, all his paperwork is back in England, making it very difficult.

Any advice on where to go from here? He has a few credit cards so do we just pay someone to do it for us?

Hope you can help

Thanks

billanben

Have loans last 6 yrs and more. Stopped paying last one as lost job and by the time bank took their money went over overdraft and bank charges added. Closed acct. and now paying debt recovery agency. Think I had PPI on all loans but only have paperwork for most recent. Can I reclaim PPI's even though owe bank money. Also bank have taken bank charges can I claim back?

di3004

marydash wrote: »

HI,
Been trying to reclaim my partners ppi insurance payments. The only way we can see that he has a case to reclaim is because his job covered him if he ever was ill or made redundant. This would've provided the same amount of money if not more as the ppi would. So he just didn't need it.

Sent the questionnaire off and have finally got a response from Natwest who haven't even taken into account the reasons we were providing as to why we believed he was missold. Basically denied needing to repay back anything.

However, we are currently working in Australia and it is difficult, with the post, timezones, and the job we do to keep on top of this. So, since that letter we have done nothing. That was at least a month ago. Also, all his paperwork is back in England, making it very difficult.

Any advice on where to go from here? He has a few credit cards so do we just pay someone to do it for us?

Hope you can help

Thanks

Hi Mary and welcome

If this was not the final decision then I would try to write back to them again, and if you have further information to add then add that as well.
I would keep at them until you receive a final decision, the final letter should include details of the Financial ombudsman service (FOS).
Tell them you believe the PPI was a waste of time (in your own words) because you had more than enough cover.
If they just added the PPI automatically mention this as well.

Keep at them.
Good luck.;)

di3004

billanben wrote: »

Have loans last 6 yrs and more. Stopped paying last one as lost job and by the time bank took their money went over overdraft and bank charges added. Closed acct. and now paying debt recovery agency. Think I had PPI on all loans but only have paperwork for most recent. Can I reclaim PPI's even though owe bank money. Also bank have taken bank charges can I claim back?

Hi there

If your under a payment plan, then the ppi is now worthless, you could ask them to cancel and if you think this was mis sold, then give it a go.
You do not actually require the paperwork, but if you can manage to try to find the account numbers, that would be a help to your reclaim.

If you still have any statements lying around over the past few years, the account number is normally shown next to the monthly repayment.
You could otherwise request a subject access request (SAR), they have 40 calendar days to comply, but you have to enclose £10 cheque or postal order for this request, if your unable to find the account numbers then give them as many details as possible, full name, and all addresses you were under whilst under the accounts, date of birth and so on, in order for them to track down your data.

However, if the account is still running on any of them, you should be able to request for a copy of the agreement, enclose £1 and ask they provide by 12 days.

To continue to make a reclaim, complete the reclaiming questionnaire as shown on link below, stage one, send to whoever set up your policy, they have 8 weeks to give a decision but may ask for more time.
Remember to keep all copies of all you send and receive in case you need to refer to this again at some point.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

Hope this helps, good luck.

amersall

billanben wrote: »

Have loans last 6 yrs and more. Stopped paying last one as lost job and by the time bank took their money went over overdraft and bank charges added. Closed acct. and now paying debt recovery agency. Think I had PPI on all loans but only have paperwork for most recent. Can I reclaim PPI's even though owe bank money. Also bank have taken bank charges can I claim back?

Hi there, do as di says on this. Also if you win mis sell this will be taken off the debts you owe to the bank, but at least it is less for you to pay back.

amersall

Hi mary, please do as di says, send another letter, this only takes a few minutes, please dont pay a company a % of your win, this is not difficult to do and i appreciate that you are not in this country, is there anyone who can help you with this over here?.It really is just a case of writing another letter.

bugsy161

Hopefully near the end of my journey and a special thanks to all on here, especially Di and Amersall.
The following is an incentive to never say never, and never give up.
- October 2007 complained to Lloyds TSB about mis-sold PPi on credit card, dating from October 1987 to October 2007
- December 2007 Lloyds said no mis-sell
- Jan 2008 went to FOS
- March 2010, adjudicator found in my favour, Lloyds ingnored
- July 2010, Ombudsman found in my favour
- September 2010, Lloyds paid me £18,892.57
- September 2010, complained to FOS and Lloyds that it wasnt enough. 6 letters to Eric Daniels. Letter from my M.P.to Lloyds. 6 letters to Lloyds customer care
- November 2010, Lloyds said calculation was fair so go away
- December 2010, threaten to take Lloyds to court as conduct and redress calculation is untried, unjust, untested and unfair
- January 2011, receive additional £12,112.35 from Lloyds taking total redress to £31,004.92
Morale of my story...............
Dont give up
Dont be bullied
Dont take no for an answer
Fight for your rights

amersall

Well done bugsy, got there in the end xxxx