PPI Reclaiming Discussion part 4

amersall

jenster2009 wrote: »

Hello

I have received a refund offer from Nationwide. After about 5 letters, a recording of the phone call agreeing PPI, I found a few points to prove it was missold.

Super news I have been offered a full refund.... but the wording is a bit werid.... I have to sign an acceptance of offer...

" I am wrtiting to you confirm my acceptance of your offer to refund the PPI premuiums applied to my account. In addition, I understand interest will be calculated on each of these preiums based on the monthly interest rate applied to my credit card over the period. This interest figure will be calcutated upon receipt of my signedd acceptance, and paid for a max period of 28 days from the date of this letter and is in addition to the refund of the PPI premiums."

also in the letter to my they state that the calulations have been conducted in line with FOS guildines.

this is there 2nd offer, the first was 1 year of refunds.

What do you think??

Thanks for your help, Jeni

Sorry for spelling, keyboard and brain, are very worn out!!!!

Hi there, well done on your win :j:j
This sounds allright to me, you send the acceptance back and if you post the figures up on here (the refund they have given you) someone will calculate these for you,if it is not right then you can take this up with fos.

amersall

nomnom wrote: »

hi there iv got a new query my partner was missold a ppi for an alliance and leicester loan because he was self employed.
we had a letter last year out of the blue i hadnt contacted the bank or anyone! they offered us a nice sum:j but the letter said this was the only amount offered and if we didnt accept it we would get nothing :(we did accept but after reading other peoples fun:mad: i wondered if we did the right thing and would we have any comeback?
cheers
nom nom

Hi there, if you post your figures up here then someone will have a look at these for you, a breakdown of what they said in the letter you got will help. Post the start and end date of loan, how much the monthly ppi was, did you settle the loan early or is it still running?.
And well done on your win :beer:

di3004

jenster2009 wrote: »

Hello

I have received a refund offer from Nationwide. After about 5 letters, a recording of the phone call agreeing PPI, I found a few points to prove it was missold.

Super news I have been offered a full refund.... but the wording is a bit werid.... I have to sign an acceptance of offer...

" I am wrtiting to you confirm my acceptance of your offer to refund the PPI premuiums applied to my account. In addition, I understand interest will be calculated on each of these preiums based on the monthly interest rate applied to my credit card over the period. This interest figure will be calcutated upon receipt of my signedd acceptance, and paid for a max period of 28 days from the date of this letter and is in addition to the refund of the PPI premiums."

also in the letter to my they state that the calulations have been conducted in line with FOS guildines.

this is there 2nd offer, the first was 1 year of refunds.

What do you think??

Thanks for your help, Jeni

Sorry for spelling, keyboard and brain, are very worn out!!!!

Hi there

I second what amersall says, and well done on your success!:beer:

goodie106

Hi,

I had a personal loan with the Ulster Bank RBS a few years ago and in 2007 went to reclaim my PPI instead of giving me my PPI back they just set up a new loan (as well as my existing loan) without any PPI to cover the existing loan and assured me this was the done thing. In my youth i thought i could manage both loans unfortunately this was not the case and iv defaulted on both loans and im currently in a debt management plan,

My question is? is it possible to still reclaim PPI from the first loan and is there any chance of getting anything back on the second loan as it was clearly mis sold to me

Any help would be great

Thanks
Goods

amersall

goodie106 wrote: »

Hi,

I had a personal loan with the Ulster Bank RBS a few years ago and in 2007 went to reclaim my PPI instead of giving me my PPI back they just set up a new loan (as well as my existing loan) without any PPI to cover the existing loan and assured me this was the done thing. In my youth i thought i could manage both loans unfortunately this was not the case and iv defaulted on both loans and im currently in a debt management plan,

My question is? is it possible to still reclaim PPI from the first loan and is there any chance of getting anything back on the second loan as it was clearly mis sold to me

Any help would be great

Thanks
Goods

Hi there,send a letter regarding the ppi mis sell to the banks head office complaints department, put both loan account numbers and put what you have wrote on here, that you believe you were mis sold ppi on the first loan because... and give your reasons. Look here for reasons for mis sell.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#checklist
Let them know that you went in to cancel the ppi on the original loan, and they just gave you another loan. you could ask for some form of goodwill gesture for the way you were given the second loan. If you win mis sell then anything you may get back will go to your dmp to reduce your dmp, but at least this lessens your debt.

Empdal

Hi all,

In September 2007 my wife bought a car from Motor Depot. Finance was via GE Money and she vaguely remembers being told that accepting insurance on the loan would aid the granting of it.

Looking back on the documents we have there is no mention of the insurance, in fact the original paperwork states that if insurance was taken two amounts would be taken from her bank every month(1 for the loan, 1 for the insurance) only one has ever been taken per month.

Its only when Santander took over GE Money they supplied an annual statement does a figure for the Loan and Insurance appear.
Only a single payment is taken per month however.

When we changed the car in October last year we asked Santander for a settlement figure and this was paid off.
As there was another monthly payment taken before they recieved the final payment we were entitled to a refund of a month.
Santander duly repaid this but it was about £15 short of the normal payment. We enquired why this was and were told that insurance payments are not refunded too which we stated that were not aware that we were paying insurance as you only ever took one payment per month!


So my questions are, do we have a valid claim? and if yes where do we write too. Especially as GE Money is now part of Santander. Is it worth the hassle to do it ourselves or go to one of these companies that offer to do the work for you.


Mark

too08

hello people. i am not sure if i qualify for this ppi thingy.i have no experience in dealing with these things atall so any advice wud be grateful....i have had 3 loans with tsb 1st in 2001, 2nd 2003 and final in 2005....i was told if i tuk out ppi i wud be covered for death, redundancy and some think else which i cant even remember...i was mae redundant in 2008 and wen i put my very first ever claim in to get help they told me after months of making me wait that i cud not use my ppi because i was not activley seeking work.. i explained that i had no choice but to go onh to income support as the inland rev wud no longer pay for my daughter to go to nursery so i had to look after her....tey said it wasnt there problem...even so i was told i wud still have to carry on paying for it even tho i was a single parent and on benifits....i have however just finished paying and have actually overpaid them by £60..i am still waiting after 2 days of shoving me from 1 person to the next to get my muni back...shud i still try and reclaim my ppi as i have never use it on any of my loans...to be honest i didnt no i had it on my 1st 2 but i new i wud be covered for redundancy on my last 1 which turns out i wasnt anyway....if i do try and get it back were do i start......any sugestions .............

di3004

Empdal wrote: »

Hi all,

In September 2007 my wife bought a car from Motor Depot. Finance was via GE Money and she vaguely remembers being told that accepting insurance on the loan would aid the granting of it.

Looking back on the documents we have there is no mention of the insurance, in fact the original paperwork states that if insurance was taken two amounts would be taken from her bank every month(1 for the loan, 1 for the insurance) only one has ever been taken per month.

Its only when Santander took over GE Money they supplied an annual statement does a figure for the Loan and Insurance appear.
Only a single payment is taken per month however.

When we changed the car in October last year we asked Santander for a settlement figure and this was paid off.
As there was another monthly payment taken before they recieved the final payment we were entitled to a refund of a month.
Santander duly repaid this but it was about £15 short of the normal payment. We enquired why this was and were told that insurance payments are not refunded too which we stated that were not aware that we were paying insurance as you only ever took one payment per month!


So my questions are, do we have a valid claim? and if yes where do we write too. Especially as GE Money is now part of Santander. Is it worth the hassle to do it ourselves or go to one of these companies that offer to do the work for you.


Mark

Hi Mark

Reading your post it seems they did add the insurance within the one monthly payment, I say go for a reclaim, give it a go.

However, its the dealers head office you pursue, is these sold it to you then you write to them to make a reclaim.

You can do so by completing the reclaiming questionnaire that replaced the template letter on this site, as stated above send to them, and give them about 8 weeks which is the normal timescale they have, they may ask for more time, but should keep you informed.

Remember to keep copies of everything in case you need to refer to this again at some point.

The reclaiming questionnaire is here on stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

If you have no printer to do this if you contact the FOS, they will send you one in the post, as these were actually issued by the Financial ombudsman service (FOS) for the purpose of reclaiming to the company and to make a complaint to them.
http://www.financial-ombudsman.org.uk/contact/index.html

Good luck.

di3004

too08 wrote: »

hello people. i am not sure if i qualify for this ppi thingy.i have no experience in dealing with these things atall so any advice wud be grateful....i have had 3 loans with tsb 1st in 2001, 2nd 2003 and final in 2005....i was told if i tuk out ppi i wud be covered for death, redundancy and some think else which i cant even remember...i was mae redundant in 2008 and wen i put my very first ever claim in to get help they told me after months of making me wait that i cud not use my ppi because i was not activley seeking work.. i explained that i had no choice but to go onh to income support as the inland rev wud no longer pay for my daughter to go to nursery so i had to look after her....tey said it wasnt there problem...even so i was told i wud still have to carry on paying for it even tho i was a single parent and on benifits....i have however just finished paying and have actually overpaid them by £60..i am still waiting after 2 days of shoving me from 1 person to the next to get my muni back...shud i still try and reclaim my ppi as i have never use it on any of my loans...to be honest i didnt no i had it on my 1st 2 but i new i wud be covered for redundancy on my last 1 which turns out i wasnt anyway....if i do try and get it back were do i start......any sugestions .............

Hi there

First of all the policy seems to be worthless to you, so you could with your reasons as well try to make a reclaim on the PPI as well.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

With the link above it takes you to the reclaiming of PPI, if you have the same reasons for all you can complete the same reclaiming questionnaire, or do them separate its up to you, just as long as you enclose your account numbers for the ones you believe were mis sold.

Lloyds PPI
Customer Care
Lloyds TSB Insurance
Tredegar Park
Newport
South Wales
NP10 8SB


Send to the above address, and they have 8 weeks to make a decision, they may write to ask for more time, but should keep you informed.

Keep copied of everything as well, just in case you neeed to go back to them again at some point.

Hope this helps and good luck.;)

too08

thank u very much for the advice...i will take this up and let u no if any think comes of it...i really apreciate your hep