PPI Reclaiming Discussion part 4

sunny84_2

Just a couple of questions, which probably have really simple answers. Firstly, I have just filled in the payment protection insurance consumer questionnaire to send to RBS, do I send it to the branch where I took out the loan or is there a different address it is meant to go to? Also, what sort of thing do I put in the covering letter to go with the forms? Finally, does it matter that I don't have any paperwork? My husband is in the army and we move around so much I stupidly don't keep things like this thinking i'll never need them and it's one less thing to move..is this goign to make a difference. I have all the info about the policy on the form though etc.

mbycharter

Hello all
I am hoping that someone can put me on the right track regarding a possible PPI re-claim...
Some years ago I bought a mortgage through a broker called APS Financial Services. Recently I received a letter from YES Financial Services Ltd saying that they "act for" APS (who I understand to be closed down) and can help me reclaim a single policy PPI that I apparently took out at the time I took out the mortgage.
Frankly, I would struggle to find all the relevant paperwork to confirm all of this, so was wondering if I should just give them a chance to recover the money, in exchange for what I imagine would be a 20 - 25% fee? Or, should I try to find the necessary paperwork and make the claim myself?
It seems odd to me that YES Financial Services should want to alert me to a claim against a company that was part of them, so is there a hidden agenda here that I should know about?
Anyway, thanks for listening and any advice or light that can be shed on this situation would be gratefully received:)
mbycharter

amersall

mbycharter wrote: »

Hello all
I am hoping that someone can put me on the right track regarding a possible PPI re-claim...
Some years ago I bought a mortgage through a broker called APS Financial Services. Recently I received a letter from YES Financial Services Ltd saying that they "act for" APS (who I understand to be closed down) and can help me reclaim a single policy PPI that I apparently took out at the time I took out the mortgage.
Frankly, I would struggle to find all the relevant paperwork to confirm all of this, so was wondering if I should just give them a chance to recover the money, in exchange for what I imagine would be a 20 - 25% fee? Or, should I try to find the necessary paperwork and make the claim myself?
It seems odd to me that YES Financial Services should want to alert me to a claim against a company that was part of them, so is there a hidden agenda here that I should know about?
Anyway, thanks for listening and any advice or light that can be shed on this situation would be gratefully received:)
mbycharter

Hi there, dunstonh is best placed to answer this question, i am sure he will give you some advice regarding mis sell ppi for a mortgage. If you have valid reasons for mis sell then it will be better to make the claim yourself than pay a company to do this.

virtuous

Hi Di3004,

I want to borrow your brains for a second.

1. Requested Halifax personal loan credit agreement which I received this morning which was secured, on it, it shows that they were charging me £2.26, my monthly payment was £24.05 including the £2.26. The house that was secured on, was sold by Halifax when I was made bankrupt and obviously they recovered their money, my question is, should I claim for mis-selling PPI because to be honest I was not aware this £2.26 a small amount as it is was being added into my monthly payment. The house was sold in 2005 by Halifax. I took the personal loan £3,296.00 on the 11/06/2004. TI did not even know that they charged me a fee of £125.00. APR 6.5%

2. I also had a personal loan with Abbey National, now Santander, again requested for my credit agreement but unlike Halifax, they sent me a handwritten photocopy that one cannot read, and on the space where they are supposed to put the amount for PPI has been left blank. The part where I am supposed to have signed, one cannot see the signature or date, nor does it mention the settlement date and year. I settled this loan in 2003 but there is no mention of it on this form. The form sent to me is so un professional and I am thinking of going to their branch tomorrow morning with Halifax copy and ask them why they cannot do the same. I was really frustrated by all these. What do you think of this?

I need some advise please - thanks in advance.

atyeo9

Hi all....

Would like a bit of advice from anyone who can.... Really just wanting to know if anyone thinks it's worth me claiming. I took a loan out for £10k in July 2007 with HSBC and took out their PPI. I don't recall taking this out, however when looking through my paperwork the other day realised that I must have been aware at the time as i have a separate sheet of paper entitled "Demands Needs and Recommendation Statement for Personal Loan CCA Protection Plan" detailing a discussion that the sales advisor held with me. Presumably i have signed this and the final page includes the following "Customer Declaration": In line with the above recommendation, I agree to take the optional Loan Protection to cover my new loan.

When looking at the paperwork the other day, i realised that the total amount I'd have paid for the PPI by the time it matures next July (60mth) is £2,171.83 - £44.18 p/m, which seems extortionate to me. I didn't realise this at the time, however everything is there in writing, so I can only imagine i must have been.

The above seems to me to pretty damning against me, but the only thing I can see wrong with the paperwork (besides the price!) is that in the recommendation statement it states: "You have told us that you have employee ill health benefits and that these last for less than 6 months. You do not have an ill health and/or accident policy which provides accident and.or sickness benefits which could protect this loan if you were unable to work due to accident or sickness. You do not wish to use these arrangements to protect your loan repayments.

You have also told us that you do not have unemployment cover which could be used to protect this loan if you were made unemployed

Finally you told us that you do not have financial dependants who you would wish to benefit from life cover in the event of your death to settle the outstanding balance on your loan less any arrears.

Based on what we have discussed we have identified that you do not appear to have sufficient arrangements in place to protect your loan if you were unable to work due to an accident or ill health. We therefore recommend that you take out the optional Loan Protection. In addition the policy provides unemployment cover to meet your loan repayments in the even of a valid claim. The policy also provides life cover so that the outstanding amount is repaid in the event of your death"

I have unemployment cover which was taken out with my mortgage, and as my mortgagee offers payment holidays could use this to cover the loan, so not sure if/why i would have said that i didn't have other cover. This seems to be my only hope, but as I said I assume that I signed this document when agreeing to the loan (I don't have a signed copy, just a duplicate print out from when i took the loan.).

Am I wishful thinking in wanting to look at a claim or do I have an avenue I can go down here? I'm just shocked that I'm paying 20% of my loan on PPI!

Thanks for any advice guys n gals.

di3004

bugsy161 wrote: »

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

WOW Bugsy, that is fab news !!:T:T Well done and Congratulations!:beer:

Your very welcome.:A

Thanks for letting us know xxx

di3004

sunny84 wrote: »

Just a couple of questions, which probably have really simple answers. Firstly, I have just filled in the payment protection insurance consumer questionnaire to send to RBS, do I send it to the branch where I took out the loan or is there a different address it is meant to go to? Also, what sort of thing do I put in the covering letter to go with the forms? Finally, does it matter that I don't have any paperwork? My husband is in the army and we move around so much I stupidly don't keep things like this thinking i'll never need them and it's one less thing to move..is this goign to make a difference. I have all the info about the policy on the form though etc.

Hi there

Send to the head office of whom set up and sold your policy, and no it does not matter if you do not have any paperwork, although having the account number will be a help.
Good luck and please keep us posted, cheers.;)

di3004

mbycharter wrote: »

Hello all
I am hoping that someone can put me on the right track regarding a possible PPI re-claim...
Some years ago I bought a mortgage through a broker called APS Financial Services. Recently I received a letter from YES Financial Services Ltd saying that they "act for" APS (who I understand to be closed down) and can help me reclaim a single policy PPI that I apparently took out at the time I took out the mortgage.
Frankly, I would struggle to find all the relevant paperwork to confirm all of this, so was wondering if I should just give them a chance to recover the money, in exchange for what I imagine would be a 20 - 25% fee? Or, should I try to find the necessary paperwork and make the claim myself?
It seems odd to me that YES Financial Services should want to alert me to a claim against a company that was part of them, so is there a hidden agenda here that I should know about?
Anyway, thanks for listening and any advice or light that can be shed on this situation would be gratefully received:)
mbycharter

Hi and welcome

Maybe this would be best to post on a separate thread below, stay within the ppi reclaiming threads, and hopefully dunstonh will be able to help and advise.
Good luck with this.:)

di3004

virtuous wrote: »

Hi Di3004,

I want to borrow your brains for a second.

1. Requested Halifax personal loan credit agreement which I received this morning which was secured, on it, it shows that they were charging me £2.26, my monthly payment was £24.05 including the £2.26. The house that was secured on, was sold by Halifax when I was made bankrupt and obviously they recovered their money, my question is, should I claim for mis-selling PPI because to be honest I was not aware this £2.26 a small amount as it is was being added into my monthly payment. The house was sold in 2005 by Halifax. I took the personal loan £3,296.00 on the 11/06/2004. TI did not even know that they charged me a fee of £125.00. APR 6.5%

2. I also had a personal loan with Abbey National, now Santander, again requested for my credit agreement but unlike Halifax, they sent me a handwritten photocopy that one cannot read, and on the space where they are supposed to put the amount for PPI has been left blank. The part where I am supposed to have signed, one cannot see the signature or date, nor does it mention the settlement date and year. I settled this loan in 2003 but there is no mention of it on this form. The form sent to me is so un professional and I am thinking of going to their branch tomorrow morning with Halifax copy and ask them why they cannot do the same. I was really frustrated by all these. What do you think of this?

I need some advise please - thanks in advance.

Hi there

So sorry for the delay in responding, been back and forth, as some electrical works were being done today, where it left us with no electric, basically it was on and off lol.

Anyway, yes you can make a reclaim, even if you went bankrupt, but remember someone asked a similar question the other day, was informed yes, but anything due to be refunded may be used towards the account, and anything remaining and interest should be refunded directly to you.
Maybe amersall will clarify on this one for you.

Personally I would make a trip to the branch and ask them for a readable copy, they should be able to provide one for you, and as long as you have the account number and your reasons for being mis sold, make a reclaim, you never know the real copy may suddenly appear.

Please let us know how you get on, and also just to say, take a photocopy of the one they sent you, and if you get any problems with getting hold of the original contact the Information Commissioners Office (ICO) for advice and maybe email them a copy of the one they recently sent you.
https://www.ico.gov.uk/Global/contact_us.aspx

Good luck.;)

di3004

atyeo9 wrote: »

Hi all....

Would like a bit of advice from anyone who can.... Really just wanting to know if anyone thinks it's worth me claiming. I took a loan out for £10k in July 2007 with HSBC and took out their PPI. I don't recall taking this out, however when looking through my paperwork the other day realised that I must have been aware at the time as i have a separate sheet of paper entitled "Demands Needs and Recommendation Statement for Personal Loan CCA Protection Plan" detailing a discussion that the sales advisor held with me. Presumably i have signed this and the final page includes the following "Customer Declaration": In line with the above recommendation, I agree to take the optional Loan Protection to cover my new loan.

When looking at the paperwork the other day, i realised that the total amount I'd have paid for the PPI by the time it matures next July (60mth) is £2,171.83 - £44.18 p/m, which seems extortionate to me. I didn't realise this at the time, however everything is there in writing, so I can only imagine i must have been.

The above seems to me to pretty damning against me, but the only thing I can see wrong with the paperwork (besides the price!) is that in the recommendation statement it states: "You have told us that you have employee ill health benefits and that these last for less than 6 months. You do not have an ill health and/or accident policy which provides accident and.or sickness benefits which could protect this loan if you were unable to work due to accident or sickness. You do not wish to use these arrangements to protect your loan repayments.

You have also told us that you do not have unemployment cover which could be used to protect this loan if you were made unemployed

Finally you told us that you do not have financial dependants who you would wish to benefit from life cover in the event of your death to settle the outstanding balance on your loan less any arrears.

Based on what we have discussed we have identified that you do not appear to have sufficient arrangements in place to protect your loan if you were unable to work due to an accident or ill health. We therefore recommend that you take out the optional Loan Protection. In addition the policy provides unemployment cover to meet your loan repayments in the even of a valid claim. The policy also provides life cover so that the outstanding amount is repaid in the event of your death"

I have unemployment cover which was taken out with my mortgage, and as my mortgagee offers payment holidays could use this to cover the loan, so not sure if/why i would have said that i didn't have other cover. This seems to be my only hope, but as I said I assume that I signed this document when agreeing to the loan (I don't have a signed copy, just a duplicate print out from when i took the loan.).

Am I wishful thinking in wanting to look at a claim or do I have an avenue I can go down here? I'm just shocked that I'm paying 20% of my loan on PPI!

Thanks for any advice guys n gals.

Hi there
Many of us that have been in the same position have you which were also enclosed with the stated paperwork have still been successful in making a reclaim.

Was it one of those ones that only protected you for the first 5 years of the loan?
Where the loan term was longer, and yet you would still be paying for the ppi for the life of the loan and from after those 5 years you would not even be protected?
If so you do already have a good case.

Anyway with your reasons give it a go, complete the questionnaire to make a reclaim this is on stage one on reclaiming here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim
Send to whoever set up your account, head office or if they have a separate complaints dept.
Keep copies of everything in case you need to refer back to this again at some point.

They normally have 8 weeks to give a decision, but may write to ask for more time.

Hope this helps, and these 5 yr policies are frowned up, in that link i posted above, check that page out, there are more details.

Good luck.;)