PPI Reclaiming Discussion part 4

di3004

dan323007 wrote: »

Hi everyone, I'm new to the site so please be gentle.

I took out a loan with HSBC in 2005, as my credit rating was not fantastic at the time I was told the only way they could approve the loan was as a 'Managed Loan'. One of the conditions was that I had to take protection. Is this legal? Can they force you to take protection and do I have any come back?

Thanks in advance,

Danny.

Hi Danny and welcome

And no they cannot force you to take out the protection, it should have been optional, they should not make it an acception of you having the loan.

If you believe you have reason to make a reclaim, then give it a go, all you do is complete the reclaiming questionnaire as on the link stage one below, send to HSBC head office or complaints dept if they have one, remember to keep copies of everything in case you need to refer to this again at some point.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

They normally have 8 weeks to give a decision, but may write to ask for more time, but they should keep you updated on the progress of your complaint.
Hope this helps, good luck.

Marky67

Hikui wrote: »

Hi again folks

I posted last week about progress on my claim - RBS had been in touch to ask for more information just as the 8 weeks was about to run out. I sent the information off to them on Thursday or Friday and was surprised to get their response this morning!

The letter basically pointed out that I had no case etc etc, which I was expecting; what I wasn't expecting was a 'goodwill gesture' of £750. So, do I take the safe money now OR press on with the next stage? I think i'm leaning towards the latter at the moment but wondered what you guys would make of it

Hi my wife and I have had a letter from RBS also suggesting that a as agood will gesture they will be happy to reimburse the PPI for the last 6 years as a good will gesture (approx £660) as they cannot find paperwork to support the initial contract. Does this mean they should really pay back upto the full 17 years but are trying to get away with it and hope we go away or do they automatically only go back 6 years.
I read on one of the other parts to the forum someone had a full reimbursement for the length of the time they had the CC for.
If they cannot find the paperwork should they contribute more.
I do beleive we have a case as they cannot prove with paperwork otherwise. Any other ideas?

deeb604

Hi all haven't been around for a while. Quietly claiming and nothing really to report. I am looking for Bright finance claiming address. I believe they are no longer trading. Can anyone offer me any pointers on where to claim from
Cheers all and well done on all the successes!!!

di3004

deeb604 wrote: »

Hi all haven't been around for a while. Quietly claiming and nothing really to report. I am looking for Bright finance claiming address. I believe they are no longer trading. Can anyone offer me any pointers on where to claim from
Cheers all and well done on all the successes!!!

Hiya

hope your well.

I would ring the FOS who may confirm if they business is still running or not, and they should also have the details of the address if they're still active, but otherwise they may suggest another avenue.
http://www.financial-ombudsman.org.uk/contact/index.html

What year did you take out the loan?
If these were governed by the FSA at the time you taken out the loan, you may be able to make a claim through the Financial compensation scheme (FSCS).
http://www.fscs.org.uk/contact-us/

Good luck hun and please keep us posted.;)

amersall

Marky67 wrote: »

Hi my wife and I have had a letter from RBS also suggesting that a as agood will gesture they will be happy to reimburse the PPI for the last 6 years as a good will gesture (approx £660) as they cannot find paperwork to support the initial contract. Does this mean they should really pay back upto the full 17 years but are trying to get away with it and hope we go away or do they automatically only go back 6 years.
I read on one of the other parts to the forum someone had a full reimbursement for the length of the time they had the CC for.
If they cannot find the paperwork should they contribute more.
I do beleive we have a case as they cannot prove with paperwork otherwise. Any other ideas?

Hi there, i think they are only obliged to go back 6 years if there is no paperwork. Someone who knows more about this will post and let you know.This is one of the reasons that the bba are going to court at the moment, they believe that the ppi should not be paid back for years when the rules for selling ppi were different. that is how i read it anyway, if i am wrong, i am sure that someone will put me right

bugsy161

Marky67 wrote: »

Hi my wife and I have had a letter from RBS also suggesting that a as agood will gesture they will be happy to reimburse the PPI for the last 6 years as a good will gesture (approx £660) as they cannot find paperwork to support the initial contract. Does this mean they should really pay back upto the full 17 years but are trying to get away with it and hope we go away or do they automatically only go back 6 years.
I read on one of the other parts to the forum someone had a full reimbursement for the length of the time they had the CC for.
If they cannot find the paperwork should they contribute more.
I do beleive we have a case as they cannot prove with paperwork otherwise. Any other ideas?

The banks will only provide an SAR for the last 6 years but, as in the case of Lloyds TSB, they keep records going back 10 years. My won claim for credit card PPI mis-sell went back to 1987 from 2007, so what the bank did was to use the last known PPI payment on record, at the time January 2000, and use that figure for the previous years. I argued that this was unfair and threatened to take them to court and, all of a sudden, they paid me more money.
They will go back further than 10 years if you have the statements to prove it but, lets face it, who keeps them that far back, and the banks know this too.
The ironic thing is that the banks will keep hold of copies of your original signed statement no matter how long ago it was.
My advice would be not to accept what they have offered as it is a means to 'palm you off'.
Lloyds told me 'NO' on 5 occasions, 3 times with my original claim back in 2007, and twice last year when I told them I was not happy with the payment they gave me.
Dont give in to them as you will eventually get back what is rightfully yours.

k77mss

hi
wondered if anybody had heard of this company and had an address for them or did someone buy the company?
thanxs

Phil777

If I owe Barclays money (arrears on loan) and am looking to reclaim my PPI back on a Barclaycard, will the money be paid directly to clear the arrears or because they are separate companies will they pay me directly.

It's really a question specific to to whether Barclays and Barclacard communicate regarding claims made to them.

Thanks,

fsaxom

hi there advice needed please.

Recently my husband asked for my help in order to sort his finances as he knows I am a big fan of this site.
What the problem is he got a letter recently from a company called Cardif Pinnacle with regards to First National Home Finance about a PPI policy that he had took out to cover a loan with GE Money back in Aug 2005.
The reason the company contacted him was to let him know that his PPI cover had now come to an end after 5 years. On receiving this letter my husband says he had no recollection that he even had this cover as he states he had other cover elsewhere and he would still receive full pay if he was off work due to accident or sickness.
So after contacting company and speaking to me I suggested he use the template letter from this site and write to GE money to complain about misselling him PPI which we did.

After looking at loan agreement we also noticed that the so called "optional" protected payments plan premium section was pre ticked when he received it which I thought was misselling too I also couldn’t find anywhere on the agreement details of how to opt out of this option. I included this all in my complaint also saying I believe I was made to take something out that was of no benefit to me.

Then after a few weeks we got a letter from Central Capital saying GE Money had forwarded the complaint to them as they were the broker responsible for arranging the loan with First National and they will be investigating the claim.
After that they got back to us basically rejecting our claim on the basis stating that there sales person did explain the PPI policy and that we had 30 days in which to cancel it etc and also enclosed a CD of telephone conversations.

Anyway sorry about long thread but feel as if I’ve hit a brick wall now after listening to CD I believe my husband was young, naive and was struggling with his finances at the time he just agreed to everything but when asked about PPI he stated that if he was off work due to sickness or accident he would still be paid in which the sales person buts in saying "that’s not a problem you can still get paid from your job and still apply to them (PPI Company) for cover as well as it got nothing to do with it, its a separate thing you have and will be more beneficial to you as will have double money coming in." husband reply's "but I didn’t think you could do that." sales person states "yeah no you can, you can still do that."

Basically is what the sales person said true can you claim PPI if you are off sick or had an accident and still receiving full pay?

Any reply’s would be extremely grateful thanks for you time.

MattyA

MattyA wrote: »

Hiya,

Sent my complaint inti FOS re Amex PPI & FOS have returned it saying that they cant deal with the complaint as Amex were not regulated by them at the time I took out the card / PPI.
They did go on to say that if I can tell them who was the underwriter for their PPI at that time they may be able to deal with it.

Any Ideas how I find this out - cant see them telling me if I ring them up.

Anyone else had this problem & if so how did you get on?

Thanks & Regards to all,
Matty.

Hi,
Just to let you know ,recieved a letter from FOS they have upheld my claim & Amex have agreed to pay back all premiums + 8% stat Interest.
They state that Amex will not entertain contract rate interest.
Is this worth pursuing / has anyone ese had a similar result?
My gripe is that I have paid interest at contract rate on a balance that would not have been as high if I had paid the same amount off as I have been paying in ppi.
Hope this makes sense?
(The difference btw would be circa £3/4k - I dont want to appear greedy but these ******* have nailed my hat on and made my life hell over the past few years)
Matty