PPI Reclaiming Discussion part 4

di3004

Mich973 wrote: »

Hi there - newbie here.


I am making a claim against Lloyds for mis-sold PPI.

I was refused a normal current account many years ago but given a business account, as I worked self employed on and off. When I wanted a loan, I was given a business loan. I questioned this as on a couple of the application forms I stated the loan was for home improvements and another was for cosmetic surgery, which are clearly not business related.

I was basically told that how I had to do it if I wanted the loan and that to get the loan I had to have PPI. Not PPI meant no loan.

I have completed and submitted all the paperwork for 4 loans and sent them off in February. I have had the acknowledgement letter and the 8 week holding letter.

I called them yesterday to find out where my claim is.......

I was told that they had started an investigation and the bank had been given 5 days to respond to them with their side of the story and to supply them with the relevant paperwork. Eight weeks later they have heard NOTHING. The lady commented that this looks very bad for the bank when they make a decision about making a payment to me.

She also told me if it had been personal PPI I would have had my money back by now but because it is business PPI they are waiting for the JR and management to decide on if they will make further appeals etc.

Can anyone comment or advise me on this ?? is there anything I can do to push them to make a decision ??

I have completed and sent everything off to the ombudsman, as I assume there is nothing else I can do to speed this up.


I also have another question - can you claim back the PPI on a loan or other product if there was a default ??

Thanks.


Mich.

Hi Mich and welcome

I also have 2 held with Lloyds due to them awaiting on a possible appeal, and unfortunately I really don't think there is anything we can do at this time.

However, I am awaiting an email from the Manager - Customer dept of Lloyds, I emailed them just after the judgement last week and asked if there would be any movement now despite them waiting on a decision on a appeal, I received an email 2 days ago to state they could not give a full answer on this yet but will do as soon as they know what is happening, but promised to be in contact.

I am still waiting, but I will post up when and if I receive any further response, good luck on yours.

And yes you can still make a reclaim on a ppi product if there is a default.

skintalot_2

Don't let yourself get stressed out about it. Ask yourself what makes you think you took out the PPI. Check all your paperwork that you have that relates to the PPI. I look on it as a challenge and not a chore when I am dealing with the banks etc. Keep your chin up and keep hacking away at them. They will crumble in the end if you are in the right.

di3004

shellbo10 wrote: »

Simms Carmichael have just rung me at work, saying they have found my original douments,but my PPi agreement has no signature on it.
The woman said I will send copys of Docs to HFC and HSBC.
I said to her that was the copy I had in the post I definately had PPi.
She said HSBC are saying I didnt take the PPI out I know I did is this a delaying tactic on the banks part and Simms and carmichael
I am really worried now that i have wasted nearly 11 months trying to get what's owed to me,I feel like crying can some one help.

Hiya

I can understand your frustration, but try not to worry, you have the proof you were paying PPI, and it will all soon untangle.
It is probably a delaying tactic - I agree.

I understand a lot are in the same position.
I take it Simms and Carmichael are a claim company?
Keep on at them.

Hope you hear some good news soon, but for now with all this going on with banks awaiting a decision on a possible appeal is definately also one of the hold ups.

di3004

skintalot wrote: »

Don't let yourself get stressed out about it. Ask yourself what makes you think you took out the PPI. Check all your paperwork that you have that relates to the PPI. I look on it as a challenge and not a chore when I am dealing with the banks etc. Keep your chin up and keep hacking away at them. They will crumble in the end if you are in the right.

I second that.;)

shellbo10

Hi I'm ok now just got a bit stressed.
Simms & Carmichael are a firm that are actually part of Key financial.
Its a long story but S&M(HAHA) rang me at home 12 months ago and I sent all my details off to them,got nowhere.
Then about 7months ago got a letterfrom KF who are now dealing with my claim instead of S&M, they said to save confusion for customers they will keep all docs as S&M.
I will never go through a second party again.
Fingers crossed there not dodgy though.
thanks for your replies x

di3004

shellbo10 wrote: »

Hi I'm ok now just got a bit stressed.
Simms & Carmichael are a firm that are actually part of Key financial.
Its a long story but S&M(HAHA) rang me at home 12 months ago and I sent all my details off to them,got nowhere.
Then about 7months ago got a letterfrom KF who are now dealing with my claim instead of S&M, they said to save confusion for customers they will keep all docs as S&M.
I will never go through a second party again.
Fingers crossed there not dodgy though.
thanks for your replies x

Hi Shell

Glad your ok now.;)

I do understand though.
Please keep us posted, it will eventually be sorted.

Fingers crossed x

boring_2

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

I would say that there is no such thing as have to have, unless you are being miss sold of course, for protection you may feel you require it.

boring_2

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

I would say that there is no such thing as have to have, unless you are being miss sold of course, for protection you may feel you require it. were you told specifically that you had to have there cover, if so (WRONG) claim. if you feel you vave been miss sold the

boring_2

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

:beer:
I would say that there is no such thing as have to have, unless you are being miss sold of course, for protection, you may feel you require it, but from whome should be your choice. were you told specifically that you had to have there cover, if so (WRONG) claim. if you feel you have been miss sold PPI then Claim.

All The Best :T

boring_2

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

:beer:

YES IT IS AS SIMPLE AS THAT ring them and ask them they will tell you if you have PPI or not, and miss sold PPI applies to hire purchase as well

Cheers :T