PPI Reclaiming Discussion part 4

amersall

jorc10 wrote: »

I'm about to launch claims against NatWest, MBNA and Barclay card but I'm fearful that the resultant potential payout from these companies may attract some form of retribution ie, calling in the loan or card debt. Are there any rulings or judgemnts preventing a malicious act of this nature from lenders?

Thanks

Jorc

Hi there, you can put a claim in and they cannot do anything with your accounts as this is treating you unfairly and you can go to fos.
If you win mis sell and have arrears on the loan/cc then they can take the arrears off your win. Hope this helps.

virtuous

Hi Everyone,

I need help in calculating my PPI for the two loans below:

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

Thanking you in advance.

Millie07

di3004 wrote: »

Hi Millie

I would definately keep on at your reclaim.
Despite them sending you the paperwork you signed, you may still have your reasons, however we all have to sign when we take out a loan but that does not mean you wasn't mis sold.

I would write back and ask them to reconsider, tell them you do not agree with their decision, and give them more details if you can to support your case.

Also, its known to be rejected on lots of complaints first time, so do not back down, stand your ground, and please let us know how you get on, cheers.;) Good luck.

Dear Dizzy Di

sorry for the delay in thanking you; I will send another letter and see how it goes. I will keep you updated.

Thanks again.

sticky_treacle

Hi all,

I'm new to all this and hope you can help.

Back in November I started an application to claim back the PPI on a credit card that was originally taken out with alliance and leicester (using all the information on here) since the original credit card was taken out it was taken over so my application was passed over to MBNA.

In my original letter i requested for the PPI to be cancelled as well as being refunded. After receiving numerous letters asking for more time to review the complaint I have now received another letter confirming that they are not willing to make any decision on my complaint until the outcome of the court case. Unfortunately I do not know much about this case can anyone give me more information on this and what the chances of it going against the banks would be? Also MBNA have still not cancelled the PPI on the credit card, is this usual practice?

I'm finding it extremely frustrating as have just returned to work after needing to be off for six months due to ill health but even then my PPI was not needed so reluctant to be paying for something I dont need.

Any help is much appreciated

Thank You

amersall

Hi there, the "court case" could take a while i am afraid.There is nothing you can do until this resolved. Take a look here.
https://forums.moneysavingexpert.com/discussion/2786416
Regarding the cancellation of the ppi, send another letter asking for this to be cancelled and if they do not respond in 14 days, you will take this to fos. Hope this helps.

kenf2210

hi,i did tell hsbc over the phone to cancel the ppi on my loan 4 months ago but they said it would all be refunded after my complaint from the first day i told them,was told on here before not to cancel the ppi untill case has been resolved,i just feel they are hanging on for a result in the court hearing & i have had 4 letters from them which are all the same s**t still investgating,i know there is some people on here been waiting a long time but i feel this is a neverending struggle to get back whats rightfully yours, hsbc are crooks through & through,im thinking of contacting fos as im getting sick of being fobbed off, what u think ???:mad:

amersall

kenf2210 wrote: »

hi,i did tell hsbc over the phone to cancel the ppi on my loan 4 months ago but they said it would all be refunded after my complaint from the first day i told them,was told on here before not to cancel the ppi untill case has been resolved,i just feel they are hanging on for a result in the court hearing & i have had 4 letters from them which are all the same s**t still investgating,i know there is some people on here been waiting a long time but i feel this is a neverending struggle to get back whats rightfully yours, hsbc are crooks through & through,im thinking of contacting fos as im getting sick of being fobbed off, what u think ???:mad:

I am 100% with you on the way banks are, they are quick to take your money...:mad: Regarding the ppi on the loan , do not cancel this, you will end up with a new loan for a longer term and higher apr (and yes, they can do this :eek: the only ppi you should cancel is that on a credit card) you are better waiting for the mis sell to complete. You can pass this over to fos, but the court case may be over by the time the fos get to deal with this, you could put a complaint to fos about hsbc using the jr as an excuse to put your claim on hold.

kenf2210

hi,thx for advice & i have cancelled the egg ppi credit card but not the hsbc loan,its just so bloody frustrating as i know they are in the wrong,they gave me the loan with the ppi added in and its a lot of money a month in ppi,about 4 weeks ago money was taken from my account due to a paypal dispute & hsbc kindly refunded it,it was all sorted out in the end as it was paypals fault but then i had to refund hsbc for the £223.00,BLOODY HELL were they chasing me straight away phone calls etc etc letters within a week it was unbelievable,i told them i was waiting for paypal to return the money then i would phone them & refund it,without any warning (BOOM) removed straight from my account no questions asked & thats was makes it so bloody frustrating as they are quick enough to recover but not refund me

Millie07

Hi

Could anyone advice me? After looking at the credit agreements I have I noticed that I was paying PPI on the Next Directory account which I didn't even realise therefore I wrote to them stating that I felt the policy was mis-sold as I cannot even remember signing up for it. They have wrote back saying the policy started in 1998 and charges have been included since then and at the time the account was opened I would have had to specifically request the policy to be taken by either ticking the appropriate box, returning a payment protection coupon or by verbally requesting it by telephone. I honestly cannot remember doing any of those things and I they cannot tell me either as it seems they have no evidence.

They have also said I cannot refer this to FOS as they will only consider cases referred to them from the FSA or if they incident took place after April 2007 and as the policy was taken out in 1998 and Next was not regulated by the FSA prior 2005 therefore the rules imposed by them or FOS do not apply.

Sorry to droan on but I feel really frustrated by it all and feel I am being ripped off therefore I wondered if anyone would be able to advise if there is anything further I can do or do I take their word.

It doesn't look like an investigation has even taken place.

Thanks in advance

amersall

Hi there, you need to find out who the insurer was, you could then go down this route as the insurer may have been regulated at that time.