PPI Reclaiming Discussion part 4

di3004

boycey01 wrote: »

Thank you so much Di,

You are an absolute gem! :A
I will post the letter tomorrow and let you know how I get on.
Fingers crossed

Your most welcome, fingers crossed, and hope you receive some good news soon, your doing good.;)

boring_2

Incipience wrote: »

Firstplus were covered by GISC in 2004 and up until the Changeover to the FSA

Hi All, :j
Its possible of course the Banks may appeal against the court ruling, i am not convinced they will, first they have to request the right to appeal, and i dont think they will win that right. they are attempting to dictate to the courts, (bad move) It is though they are saying we have plenty of loot, look how much we pay out on bonuses, they are about to feel the bite up the backside from FOS, the longer they delay the larger the cost.
I first complained to the FSA Regards Miss selling of PPI BY HFC Bank in early Aug 2010, HFC did not even bother to reply. So i went to the Financial Ombudsman and an Adjudicator found for me. My concern was that the ppi was taken out in 1998, and i believed that HFC was not regulated at that time. But to my delight according to the Omudsman they were. Anyway i did not Argue.
my point is dont let the length of time since you first took out the ppi put you off from claiming.
I am still awaiting the final decision of the Ombudsman, but due the backlog i am still waiting after 1 YEAR 8 MONTHS, it's not a sprint it certainly a marathon. hope this is usefull to some
Good Luck all
:T

freddiesmum_2

Hi, can anyone advise? End October 2008 my daughter took out a consolidation loan with Barclays bank. This loan included PPI insurance. In December last she slipped on the ice and broke her leg in three places. She claimed on her PPI insurance Barclays Dublin Insurance and they have paid her loan up till she returned to work 2 weeks ago. She visited Barclays in order to get help in claiming the last 2 weeks she was off work. The adviser dealing with her looked at her loan details on the computer and told her she should not be paying so much out on PPI insurance, Nearly £100 pounds per month. Adviser told her to come back once last 2 weeks of insurance had been paid out and they would put in place a new policy with same company that would only cost £11.00. per month. If she wanted life insurance to cover her loan they could do that for less than £5.00. per month. Turns out her PPI included life insurance to cover the loan in the case of her death before repayment. She was told that this was the PPI insurance she had to have.
She loaned £12,500 over 84 months at 14.976% per annum total repayment £20,248.20

PPI cost of £4,945.92 was added to this debt. Total repayment with interest £8,011.08. Nearly double the upfront cost of paying the premium in one payment.

She was not told she had any choice re PPI insurance just that this was the only option if she wanted the loan. Yet another person at the same bank can do the insurance through the same company for £11.00.!
WAS SHE MISS SOLD THIS POLICY?
Can she claim even though she has made a claim on the insurance?
If she changes to the £11.00. per month policy would this affect her claiming miss sold PPI on previous policy or should she keep on paying out on original policy, £95.37. per month? Help

ruthem215

Hello!

We took out a loan last year with santander, we did it online and have no idea if we were sold PPI or not, I can't find it on the paperwork, it just says if you did take it out then it would be included in your monthly payments. I don't remember saying yes online to it, but how will I know if I have been missold it or not? Is it just a case of giving them a ring and asking them if I am paying for it? Its just that with it not being written down anywhere IF I WAS paying for it what proof do I have?

Also can someone advise me - is it just for personal loans or can you be missold PPI on a hire purchase agreement too? thanks

nottsnat82

I'm new to this... so here goes!
I've had a look through all the info on reclaiming PPI. I cant seem to see anything about Welcome finance secured loans. They basically added it to a secured loan I have and was just wondering if I could reclaim it back. Any advice would be much appreciated! Thanks

di3004

freddiesmum wrote: »

Hi, can anyone advise? End October 2008 my daughter took out a consolidation loan with Barclays bank. This loan included PPI insurance. In December last she slipped on the ice and broke her leg in three places. She claimed on her PPI insurance Barclays Dublin Insurance and they have paid her loan up till she returned to work 2 weeks ago. She visited Barclays in order to get help in claiming the last 2 weeks she was off work. The adviser dealing with her looked at her loan details on the computer and told her she should not be paying so much out on PPI insurance, Nearly £100 pounds per month. Adviser told her to come back once last 2 weeks of insurance had been paid out and they would put in place a new policy with same company that would only cost £11.00. per month. If she wanted life insurance to cover her loan they could do that for less than £5.00. per month. Turns out her PPI included life insurance to cover the loan in the case of her death before repayment. She was told that this was the PPI insurance she had to have.
She loaned £12,500 over 84 months at 14.976% per annum total repayment £20,248.20

PPI cost of £4,945.92 was added to this debt. Total repayment with interest £8,011.08. Nearly double the upfront cost of paying the premium in one payment.

She was not told she had any choice re PPI insurance just that this was the only option if she wanted the loan. Yet another person at the same bank can do the insurance through the same company for £11.00.!
WAS SHE MISS SOLD THIS POLICY?
Can she claim even though she has made a claim on the insurance?
If she changes to the £11.00. per month policy would this affect her claiming miss sold PPI on previous policy or should she keep on paying out on original policy, £95.37. per month? Help

Hi and welcome

Sorry to hear of your daughters issues and I hope she's recovered now.
Blimey that is a lot!

I understand that you can still put in a reclaim, although the refund may be reduced due to what have been paid out.
To what I am aware, by changing the policy would not affect any reclaims, but maybe someone will clarify on this.
Afterall, your daughter have still been paying a good amount into the policy.

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

Ask for further help if required.

di3004

ruthem215 wrote: »

Hello!

We took out a loan last year with santander, we did it online and have no idea if we were sold PPI or not, I can't find it on the paperwork, it just says if you did take it out then it would be included in your monthly payments. I don't remember saying yes online to it, but how will I know if I have been missold it or not? Is it just a case of giving them a ring and asking them if I am paying for it? Its just that with it not being written down anywhere IF I WAS paying for it what proof do I have?

Also can someone advise me - is it just for personal loans or can you be missold PPI on a hire purchase agreement too? thanks

Hiya

I understand you can make a reclaim on anything you believe mis sold.

You could try first by giving them a ring, they should be able to confirm if there is insurance added, or another way would be write a simple letter by enclosing £1 cheque or postal order, giving them the account number details and requesting for a copy of the agreement, the details of ppi would be enclosed on the agreement, ask they comply by 12 days.

You can try to make a reclaim with your reasons, it may be a matter of your word against their's but keep at them, good luck.

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

di3004

nottsnat82 wrote: »

I'm new to this... so here goes!
I've had a look through all the info on reclaiming PPI. I cant seem to see anything about Welcome finance secured loans. They basically added it to a secured loan I have and was just wondering if I could reclaim it back. Any advice would be much appreciated! Thanks

Hi and welcome to the site.;)

Was it actually Welcome finance that set up and sold you the account or a broker, or are Welcome the broker and the lender?

You pursue the ones who set up the account, and if mis sold, there is a reclaim questionnaire below link stage one.
Complete and send to the head office or complaints dept, keep copies in case you need to refer to it again, they have 8 weeks and should keep you well informed of the progress of your complaint.

There have been lots of others on here who have made reclaims via Welcome, hopefully someone who have dealt with them will post up of their own experience.

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

Good luck.

lauzflow

when i was 19 in 2003 i took a loan out with barclays for £7000 paying off £214 a month over 5 years i was working less then 16 hours a week in a job i had only been in about 4 months i dident have to show any paye slips i dident even go in the bank to ask for a loan i was just sorting out an overdraft.. it was basicly offerd to me on a plate. i was foolish for taking it and cant remember taking out any ppi though but i must have! cus i signed for it. but i can remember adding an additons to my account where i get break down cover , mobile cover and so on .. in 2006 i found out i was pregnant and i wouldent be working so couldnt really afford repayments at 214 a month so i phoned the bank to sort payments out and they put me through to the insurance department i was like oh! iv got insurance ! anyway they said they couldent help me in anyway so my dad kindley repayed my loan for the next 3 years. on 2 diffrent ocassions i tried to cancel the insurance explaining to them i just dident need it it was a waste of my dads money but both times they said if i cancel i would be messing wiv my "apr" and i would end up paying more a month back and thats with out the insurance so it was just best to keep it. Having so much trust in the bank ive been banking with for the past 16 years i took it all in. do i have a case im new at this and as much help as possible would be much appreciated ..sorry for the bad spelling ! and any idea how much ppi i would have payed on this as i dont have my agreement no more .

jellybabe_2

Hi everyone. Can anyone help me. In 2006 my husband applied for a credit card. I cant remember wether we agreed to a PPI. We do havfe a payment protection policy and a 'statement of demands and needs'. However, we are still paying it off, but through CCCS and was wondering how this would work while paying it off via CCCS? Surely the figures wouldnt correlate as its completely different payment agreement?