PPI Reclaiming Discussion part 4

boycey01

di3004 wrote: »

Hi there

Its not guaranteed they get back exactly on the 8 weeks, even though that is the normal timescale, personally I would give them a bit longer like another week and then chase them up if you've heard nothing, one of the problems are is that they are over-run with these complaints, and the FOS are the same, but there is no harm in giving them a quick ring to ask for an update.
Good luck.;)

Thanks for the advice. Yes I will be a bit more patient and wait another week, then if I still haven't heard anything I will give them a ring. Fingers crossed I hear some good news soon!

Dirks_Engine_Room

Di,

Do you know roughly how long it takes for a bank (say...RBS) to respond to adjudicator decision?

di3004

Dirks_Engine_Room wrote: »

Di,

Do you know roughly how long it takes for a bank (say...RBS) to respond to adjudicator decision?

Hiya
I think the FOS/Adjudicator give them about a fortnight, unless the bank have asked for extra time, it was that in my case anyway.;)

sh4unzr

Hi guys,

I have just finished paying off my finance agreement on a car I Purchased in 2007 from Perrys Motor Sales Ltd.

Looking through the paperwork now, it would appear I have paid in excess of £800 worth of PPI cover although I didn't need it.

At the time of taking out the finance, I was in full time employment and no medical conditions.

Perrys cleverly created a special form for discussing PPI to see if it was 'suitable'. Although the salesman did not force me to take out PPI cover, he persisted in saying that it is highly recommended i took this out and pointed out all the cons of not having it i.e. scare mongering.

The questions on this form were basically on the lines of 'do you feel PPI would be beneficial to you in the event of unemployment/sickness' etc. Not do you feel you need PPI cover.

One question on the form reads:

Do you have any type of insurance that would specifically provide cover for the repayment of this agreement?

The answer was circled yes. However, thinking about it know i wouldnt have had this through my employer or insurer. So, the salesman had circled this as yes based on the fact that i would find PPI beneficial in the long term, not that i actually needed it.

I'm unsure as to wether i can claim anything back based on the circumstances. From what i make of it, Perrys must have known PPI wasn't needed and created a form to cover themselves in the event of a refund claim being made against them.

Can anyone help?

Many Thanks,

Shaun.

di3004

sh4unzr wrote: »

Hi guys,

I have just finished paying off my finance agreement on a car I Purchased in 2007 from Perrys Motor Sales Ltd.

Looking through the paperwork now, it would appear I have paid in excess of £800 worth of PPI cover although I didn't need it.

At the time of taking out the finance, I was in full time employment and no medical conditions.

Perrys cleverly created a special form for discussing PPI to see if it was 'suitable'. Although the salesman did not force me to take out PPI cover, he persisted in saying that it is highly recommended i took this out and pointed out all the cons of not having it i.e. scare mongering.

The questions on this form were basically on the lines of 'do you feel PPI would be beneficial to you in the event of unemployment/sickness' etc. Not do you feel you need PPI cover.

One question on the form reads:

Do you have any type of insurance that would specifically provide cover for the repayment of this agreement?

The answer was circled yes. However, thinking about it know i wouldnt have had this through my employer or insurer. So, the salesman had circled this as yes based on the fact that i would find PPI beneficial in the long term, not that i actually needed it.

I'm unsure as to wether i can claim anything back based on the circumstances. From what i make of it, Perrys must have known PPI wasn't needed and created a form to cover themselves in the event of a refund claim being made against them.

Can anyone help?

Many Thanks,

Shaun.

Hi Shaun

They may have possibly just added it anyway, but if you believe it was mis sold, then give it a go, just follow the link below to the reclaiming questionnaire, this replaced the template letter on this site, send to the head office of whom set up your account, keep copies of everything in case you need to go back to this again at some point.

They have 8 weeks to give a decision, but may request for more time.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

Good luck, and ask for any help if required.

May I just also suggest as well to post your reclaim by recorded delivery, you can check the status of delivery via Royal mail website, Track & Trace.;)

virtuous

Hi Everyone,

Just received this morning two Personal Loan Agreement from Halifax, below is the details: I took this loan in September 2000

Cash Loan: £6,000
Add total charge for credit for cash loan: £2,230.20
Total Amount: £8,230.20
Insurance Loan (cash price of insurance: £1,278.28
Add total charge for credit for insurance:£474.92
Total amount of insurance loan : £1,753.20
60 monthly payments of £166.39
APR 14.0%
Monthly interest: £1.101%
Total loan: £7,278.28
Total charge for credit for total loan: £2,705.12
Total amount you pay: £9,983.40


Loan Number 2 - year taken June 2003

Cash Loan: £ 6,400
Add: total charge for credit for cash loan:£ 1,983.80
Total amount you pay for cash loan: £8,383.80
Insurance loan (cash price of insurance): £1,477.82
Add: total charge for credit for insurance loan: £424.78
Total amount you pay for insurance loan: £1,902.60
60 Monthly payment of £171.44
APR : 10.9%
Monthly interest: 0.869%
Total charge for credit for total loan: £2,408.58
Total amount you pay: £ 10,286.40

Although the credit agreement shows that I did sign the box for insurance all I did was what the lady at the branch asked me to sign, sign here, and here etc and that was it. Can someone help me here on how to go about this. Can I still claim?

di3004

virtuous wrote: »

Hi Everyone,

Just received this morning two Personal Loan Agreement from Halifax, below is the details: I took this loan in September 2000

Cash Loan: £6,000
Add total charge for credit for cash loan: £2,230.20
Total Amount: £8,230.20
Insurance Loan (cash price of insurance: £1,278.28
Add total charge for credit for insurance:£474.92
Total amount of insurance loan : £1,753.20
60 monthly payments of £166.39
APR 14.0%
Monthly interest: £1.101%
Total loan: £7,278.28
Total charge for credit for total loan: £2,705.12
Total amount you pay: £9,983.40


Loan Number 2 - year taken June 2003

Cash Loan: £ 6,400
Add: total charge for credit for cash loan:£ 1,983.80
Total amount you pay for cash loan: £8,383.80
Insurance loan (cash price of insurance): £1,477.82
Add: total charge for credit for insurance loan: £424.78
Total amount you pay for insurance loan: £1,902.60
60 Monthly payment of £171.44
APR : 10.9%
Monthly interest: 0.869%
Total charge for credit for total loan: £2,408.58
Total amount you pay: £ 10,286.40

Although the credit agreement shows that I did sign the box for insurance all I did was what the lady at the branch asked me to sign, sign here, and here etc and that was it. Can someone help me here on how to go about this. Can I still claim?

Hiya

Thanks for posting this up and I'm sure someone will be along to check this out for you, I'm not the one for calculations lol but there are a few on here who are.;)

Yes you can still reclaim, the main fob off is being told because you signed blah blah, but as long as you have your reasons, then go for it.:)

boycey01

virtuous wrote: »

Hi Everyone,

Just received this morning two Personal Loan Agreement from Halifax, below is the details: I took this loan in September 2000

Cash Loan: £6,000
Add total charge for credit for cash loan: £2,230.20
Total Amount: £8,230.20
Insurance Loan (cash price of insurance: £1,278.28
Add total charge for credit for insurance:£474.92
Total amount of insurance loan : £1,753.20
60 monthly payments of £166.39
APR 14.0%
Monthly interest: £1.101%
Total loan: £7,278.28
Total charge for credit for total loan: £2,705.12
Total amount you pay: £9,983.40


Loan Number 2 - year taken June 2003

Cash Loan: £ 6,400
Add: total charge for credit for cash loan:£ 1,983.80
Total amount you pay for cash loan: £8,383.80
Insurance loan (cash price of insurance): £1,477.82
Add: total charge for credit for insurance loan: £424.78
Total amount you pay for insurance loan: £1,902.60
60 Monthly payment of £171.44
APR : 10.9%
Monthly interest: 0.869%
Total charge for credit for total loan: £2,408.58
Total amount you pay: £ 10,286.40

Although the credit agreement shows that I did sign the box for insurance all I did was what the lady at the branch asked me to sign, sign here, and here etc and that was it. Can someone help me here on how to go about this. Can I still claim?

Hi there,

I had the same thing with a Halifax loan I got in 2003. I applied for the loan over the phone but had to go to the branch to sign some forms. When I got there the lady got me to sign in the boxes where she had put crosses. One of them happened to be wanting PPI but I didn't question it as thought it was all part of the loan and I had to have it to get the loan.
I would go for it. I sent my questionnaire 8 weeks ago so hopefully I should hear something soon.
Good luck

amersall

:j:j Lee2021 :T Well done on your win :T:T:money:

nomnom_2

can anyone help i had a loan through northern rock and i bought(!)bronze cover ppi with it which just covers death can i claim anything back or am i doomed to :mad:
thanks:)