PPI Reclaiming Discussion part 4

di3004

AnnieFE wrote: »

My partner is going through an IVA at the moment and I was wondering if it would make any sense to reclaim PPI for the credit card and loan that he used to have at the moment or just wait until he's finished with it (which is until 2013)?

I know it seems slightly strange to try and reclaim it while he's still "owing" the bank money but I'm just worried that the reclaiming will have stopped by that time.

Any suggestions would be very much appreciated.

And btw. I still haven't heard back from Barclays about my PPI claim. I will give them a call tomorrow, I think.

Hello there

I would start to make the complaint now, it makes no difference as such if on IVA I don't think and understand people have still make reclaims.

Chase the other as well, ask them for an update on your complaints and ask when your likely to hear, hope its good news for you soon, the best of luck.;)

di3004

Ladyvaletta wrote: »

I'm claiming on a couple of cards and a loan, and have twice been asked if I've ever defaulted or missed a payment. Just wondering - does this affect whether they will pay out or not?

Hi there

You can still make a reclaim, the only difference this makes is, if your successful then the refund will likely to be awarded directly to that debt account, and anything remaining plus interest should be refunded directly to you.

For more on reclaiming below, step 3 complete the reclaim questionnaire, send to the ones responsible to setting up the account, head office or complaints dept, and allow 8 weeks for a decision, remember to keep copies as well, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance

http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#step3

AnnieFE

Thanks for the reply Di.

Do you think that they might try and get him to pay money towards the IVA if he gets any PPI back?

cappo

AnnieFE wrote: »

Thanks for the reply Di.

Do you think that they might try and get him to pay money towards the IVA if he gets any PPI back?

it seems likely as it'll be possibly classed as disposable income

di3004

AnnieFE wrote: »

Thanks for the reply Di.

Do you think that they might try and get him to pay money towards the IVA if he gets any PPI back?

Your welcome.

They may do, but I am not too certain.

What you could do is ask this question on the IVA thread, and see if anyone else have made successful reclaims and ask of their own experience, I'm sure someone will know for sure on this for you.
http://forums.moneysavingexpert.com/forumdisplay.php?f=159

AnnieFE

Will do. Thank you and thanks again for the reply.

chomper22

Hi all

Newbie here, trying to decide whether I have a PPI case or not!... Would like some help from what seems to be PPI gurus amongst these forums!

Trying to cut a very long winded story short - took out a loan for £5000 in May 2007. (Still got for another 12 months yet). At the time of taking it out (in person in the branch), I vaguely remember discussing PPI and may have even felt I wanted it.. but it was on the basis that 'you could always cancel it if you dont want it later on'... so I agreed to take it. I wasn't entirely sure of it's benefits as I felt I had some of the same ones through employment.

I changed jobs at work and time slipped away a bit but probably about 11 months into the loan I decided to look into whether I could actually get the same benefits from work etc. It turns out I pretty much did and decided to cancel. I understood that if I cancelled within the first year I was entitled to x% back which I had already paid, and my monthly payments would be reduced accordingly.

In fact, this turned out to be very different from what I understood. Instead I was told there was no money due back (At this time, I couldn't place my hands on the terms and conditions leaflet which came with my loan paperwork, so could never prove or check this). In addition, I assumed my monthly payments would drop straight away to the amount on the loan term (minus PPI etc), but was told that interest was front loaded and that it would have to be amended pro rata etc. I did actually formally complain at the time (about Aug 2008 by this time) and got a couple of letters back saying that was that really and that I wasn't entitled to any money back, and that the front loading of interest for PPI etc was in fact all correct.

I am still miffed by it all and not entirely sure if there is a case here or not... if anyone can offer guidance, I would be grateful!?

Nikki

moneyangel22

Hi,

Can anyone tell me how long Lloyds are taking to settle claims now please?

Many thanks

di3004

moneyangel22 wrote: »

Hi,

Can anyone tell me how long Lloyds are taking to settle claims now please?

Many thanks

Hi there

Yes they have been dealing with complaints, mine was upheld last week and have been with them since before Xmas, however I understand they are still dealing with new complaints as well as the ones that have been with them for a while, they have taken on extra staff.

Good luck on yours.;)

di3004

chomper22 wrote: »

Hi all

Newbie here, trying to decide whether I have a PPI case or not!... Would like some help from what seems to be PPI gurus amongst these forums!

Trying to cut a very long winded story short - took out a loan for £5000 in May 2007. (Still got for another 12 months yet). At the time of taking it out (in person in the branch), I vaguely remember discussing PPI and may have even felt I wanted it.. but it was on the basis that 'you could always cancel it if you dont want it later on'... so I agreed to take it. I wasn't entirely sure of it's benefits as I felt I had some of the same ones through employment.

I changed jobs at work and time slipped away a bit but probably about 11 months into the loan I decided to look into whether I could actually get the same benefits from work etc. It turns out I pretty much did and decided to cancel. I understood that if I cancelled within the first year I was entitled to x% back which I had already paid, and my monthly payments would be reduced accordingly.

In fact, this turned out to be very different from what I understood. Instead I was told there was no money due back (At this time, I couldn't place my hands on the terms and conditions leaflet which came with my loan paperwork, so could never prove or check this). In addition, I assumed my monthly payments would drop straight away to the amount on the loan term (minus PPI etc), but was told that interest was front loaded and that it would have to be amended pro rata etc. I did actually formally complain at the time (about Aug 2008 by this time) and got a couple of letters back saying that was that really and that I wasn't entitled to any money back, and that the front loading of interest for PPI etc was in fact all correct.

I am still miffed by it all and not entirely sure if there is a case here or not... if anyone can offer guidance, I would be grateful!?

Nikki

Hi Nikki and welcome

From what I'm aware of, most of them have about 30 cooling period days,so if you cancel within that time they should then reduce the monthly repayments.

If you think it was mis sold, then do give it a go with your reasons, you may be successful.
Just complete the reclaim questionnaire as on step 3 below, and send a copy to the head office or complaints dept of who set up and sold your account, allow 8 weeks, and keep copies of what you send and receive. Good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3