PPI Reclaiming Discussion part 4

woody123456_2

Hello,

Yes i do believe it was mis sold.

My husband is the first named on the insurance, he is self-employed and cannot in effect lose his job or be made redundant.

I had and still do, a 12 month full sick pay entitlement with my employer

we both have life/critical illness insurance

I had no idea the policy only lasted for five years i honestly did not, the cashback was glamourised up and i was told to see it as a savings plan.
At no point was i told that i would still pay the same premiums uninsured for the following fifteen years with interest

We had to pay the FULL PPI premium upfront and it was added to our loan over twenty years, again this was not fully explained.

We were made to feel like we needed the ppi to support us getting a thumbs up for a loan.

Do i have a case, I have filled out all the forms and sent them to FP And also fos as well because i feel so bloody cheated.

Thanks

di3004

woody123456 wrote: »

Hello,

Yes i do believe it was mis sold.

My husband is the first named on the insurance, he is self-employed and cannot in effect lose his job or be made redundant.

I had and still do, a 12 month full sick pay entitlement with my employer

we both have life/critical illness insurance

I had no idea the policy only lasted for five years i honestly did not, the cashback was glamourised up and i was told to see it as a savings plan.
At no point was i told that i would still pay the same premiums uninsured for the following fifteen years with interest

We had to pay the FULL PPI premium upfront and it was added to our loan over twenty years, again this was not fully explained.

We were made to feel like we needed the ppi to support us getting a thumbs up for a loan.

Do i have a case, I have filled out all the forms and sent them to FP And also fos as well because i feel so bloody cheated.

Thanks

Hiya

Yes I do think you have a good case here, go for it, complete the reclaim questionnaire as on step 3 below, and keep a copy for yourself as well, send one to the company who set up and sold you the account - head office or complaints dept, allow 8 weeks for a decision, keep at them, the best of luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

woody123456_2

as so many people do, I could just cry the more and more I think about the deceit and I,m scared stiff they will just tell me to !!!!!! off.
Sounds corny but im dyslexic and have real trouble wording things or being able to respond correctly I,m bothered i will !!!! something up. This website is so helpful and friendly...Thanks

di3004

woody123456 wrote: »

as so many people do, I could just cry the more and more I think about the deceit and I,m scared stiff they will just tell me to !!!!!! off.
Sounds corny but im dyslexic and have real trouble wording things or being able to respond correctly I,m bothered i will !!!! something up. This website is so helpful and friendly...Thanks

You will be ok, try not to worry, and they have a duty to treat customers fairly.

katabill

Recently I have claimed my PPI back on old loans, and now been told that my claim was sucessful and I am due £2,700, but they will not pay this amount to me and they will deduct this amount from the current loan i have running at the moment with the same company. Surely as the claim was against an previous loan and not my current loan I should be paid this amount directly? i have also been told that the company (welcome finance) have been in default from the 2nd March and the FSCS is dealing with it, but my claim was inbefore this date it was february 2011, does anyone else have this problem and is ther anyone else i can contact as i have asked them to reconsider but they said no??????

di3004

katabill wrote: »

Recently I have claimed my PPI back on old loans, and now been told that my claim was sucessful and I am due £2,700, but they will not pay this amount to me and they will deduct this amount from the current loan i have running at the moment with the same company. Surely as the claim was against an previous loan and not my current loan I should be paid this amount directly? i have also been told that the company (welcome finance) have been in default from the 2nd March and the FSCS is dealing with it, but my claim was inbefore this date it was february 2011, does anyone else have this problem and is ther anyone else i can contact as i have asked them to reconsider but they said no??????

Hi there

I assumed as long as that actual account is settled, then your entitled to keep the refund on that account, tell them this is a separate loan with a different loan number, where you settled in full some time ago, and you wish to receive your refund as you have been deprived of your money already due to being mis sold.

I would contact the FSCS for more details, as with Welcome now in default, they possibly passed your case to the FSCS to deal with, give them a call and check it out.

http://www.fscs.org.uk/contact-us/

http://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-for-welcome-financial-hn0qripj/

Good luck.

oorbrian

I got a call when out saying that my CMC was sending me forms to complete and send back. Is this normal?
Do settlements come this way or is it request for more info? Too late to phone when i got message

di3004

oorbrian wrote: »

I got a call when out saying that my CMC was sending me forms to complete and send back. Is this normal?
Do settlements come this way or is it request for more info? Too late to phone when i got message

Hi there

I am not too sure on how claims companies work to be honest, but seems like its paperwork after paperwork to complete.

Have you also thought about having a go yourself without the need of a CMC? (all free with also guidelines and help from this site).

I take it you have already made a start?

beamerguy

PPI: Lloyds says sorry for mis-selling

14 June 2011
MSE Reclaim £1,000s guides
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Lloyds Banking Group has said "sorry" for flogging worthless payment protection insurance (PPI) policies and promised a catalogue of measures to provide compensation for victims, in yet another sign of capitulation by banks.

http://www.moneysavingexpert.com/news/reclaim/2011/06/ppi-interview-lloyds-says-sorry-for-mis-selling

"for flogging worthless payment protection insurance"
FRAUD ACT 2006 covers this one in a nutshell:j

h0pusp0pus

it seems a bit mad to me that people are still going to no win no fee companies to sort their ppi out (no offence to anyone who has) but its so simple and straight forward to make a claim yourself with the free help and guidence and support you get on this forum it couldnt be simpler give it a go and dont give these money grabbing companies get a share of your refund