PPI Reclaiming Discussion part 4

cappo

di3004 wrote: »

Well done Mandy :T:j Congratulations!:beer:

They are putting you back in the position as if you did not have PPI, so what you paid, plus interest on each payment, and interest to date, something along those lines it seems to be, well done.;)

Cappo, and everyone else, thank you for asking on my darling brother, he was send home yesterday evening, as they felt he would settle better in his own bed, because he is also has severe autism, he does not take well to changes.
They seem to think the levels in his blood were low, sugar/salt, and with him being a diabetic as well possibly brought on the fits, so the care staff at where he lives will be monitoring him closely at home, with the appropriate meds as well.;) Xxx

Bless his heart,he's got a caring sister in you,i hope he's ok:T

cappo

di3004 wrote: »

Thanks hon, have just left a post of an update of my brother above, cheers so much.;)

Blimey that is bad, will have to get hold of that paper and have a read.
Something not right about that is it?:eek:

the bank that did this wants to be ashamed of themselves,there should be a law against this the new regulator needs to be a bit tougher on the banks,this needs to stop.

cappo

matt1969 wrote: »

I have been fighting with Blemain Finance and Ocean Finance over my PPI, Blemain as i had expected are denying any wrong doing and are blaming Ocean for giving me the wrong informaion.This has been going on for over 2 years first with Heenans solicitors who were offered by Ocean a £2900 settlement in 2009, which Heenans told me not to take as it doesnt inclued any intrest repayment,this was then passed on to James and Beckett who didnt to anything and then on to Black Lion Law, who looked into it and last May 2010 wrote to me stating that my claim was worth over 12 thousand this took into account interest ill will be paying on the life of this 30 year loan.For the past year Black Lion Law have been working on this and now last month told me that Heenans had given me the wrong information and i should have taken the Ocean offer as my clain is only worth £1500.BUT because my no win no fee only covers me if it goes to court Black Lion Law have charged me £2300 so out of my claim and 2 years of this i was only going to get £600. i complained to them that they have given me the wrong information over the last year, they have offered me 'good will' of dropping their fees by £800 so im going to get £1400. So just to advise people to take on the company yourself first before to get a solicitor.

I'm sorry to hear about this matt,it sounds like you have had the run around for a long time.

Ravis

Hi guys, this is the first time on this site, so please forgive me if i have entered a new post in the wrong format.

I was contacted out of the blue by a compnay called 'Forbes Douglas' regarding a loan I have with First Plus financial.

It was a 10 year loan and around 5 years have passed. loan insurance(ppi) was included in the loan as i was under the impression that i would not otherwise qualify.

Forbes Douglas claimed that I have potential claim value of around £1717 and that they would pursue the case for me for 30% of total return.

First Plus recently wrote to me regarding the PPI and stated i would be eligible for a full refund as the PPI has expired, I returned the relevant form and advised Forbes Douglas via a phonecall, which they stated they would update onto my records with them. Forbes Douglas stated that this was separate to the claim they were doing?

I recently received a cheque from First Plus for the ppi loan value for £2400.


I am unsure now what to do, do i:

• Advice Forbes Douglas of the payment I have recieved
• Write to Forbes Douglas to cease any further action in the claim they are pursuing.
• Let them them continue with there case, which is at the Financial Ombudsman stage.

If it means that I have Forbes Douglas 30% then thats fine, but i think there maybe be two claims or i have got it completely wrong.

Thank you

Ravi

di3004

Ravis wrote: »

Hi guys, this is the first time on this site, so please forgive me if i have entered a new post in the wrong format.

I was contacted out of the blue by a compnay called 'Forbes Douglas' regarding a loan I have with First Plus financial.

It was a 10 year loan and around 5 years have passed. loan insurance(ppi) was included in the loan as i was under the impression that i would not otherwise qualify.

Forbes Douglas claimed that I have potential claim value of around £1717 and that they would pursue the case for me for 30% of total return.

First Plus recently wrote to me regarding the PPI and stated i would be eligible for a full refund as the PPI has expired, I returned the relevant form and advised Forbes Douglas via a phonecall, which they stated they would update onto my records with them. Forbes Douglas stated that this was separate to the claim they were doing?

I recently received a cheque from First Plus for the ppi loan value for £2400.



I am unsure now what to do, do i:

• Advice Forbes Douglas of the payment I have recieved
• Write to Forbes Douglas to cease any further action in the claim they are pursuing.
• Let them them continue with there case, which is at the Financial Ombudsman stage.

If it means that I have Forbes Douglas 30% then thats fine, but i think there maybe be two claims or i have got it completely wrong.

Thank you

Ravi

Hi Ravi and welcome

Why not have a go yourself, its less hassle and less paperwork and you get to keep all your refund, plus interest etc.

If you think you have been mis sold, with your reason of assuming you had to have the ppi - due to not knowing any different is one of those reasons, it should have been made optional or they should have at least said so.

All you do is complete the reclaim questionnaire as on step 3 below, send it to the ones who sold you the account - to their complaints dept or main head office, allow 8 weeks for a decision, they may write to ask for more time, as they have backlogs.
Remember just to keep copies of your questionnaire as well in case you need to refer back to it again at some point.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

I understand that many have had problems using claims companies and on this site we do not suggest that direction, when its just a matter of completing the questionnaire with your reasons, as long as you have the account number you can continue to make the reclaim, hope this helps, good luck.

Ravis

Thank you for yor response, I have signed documents with Forbes Douglas back in November 2010 to act on my behalf, in hind sight I should have iniated the claim myself.

Recent conversation I had with them I advised that i would be claiming the ppi premium as advised by First Plus and they advised for me to carry on and that there claim is separate and would continue, this is the point i am unsure about, what claim would they pursue if i have ralready recevied a payment from First Plus?

Any advice on how to cancel claim with Forbes Douglas? i understand that i may have to pay them related costs.

Kind regards

Ravi

amersall

Ravis wrote: »

Hi guys, this is the first time on this site, so please forgive me if i have entered a new post in the wrong format.

I was contacted out of the blue by a compnay called 'Forbes Douglas' regarding a loan I have with First Plus financial.

It was a 10 year loan and around 5 years have passed. loan insurance(ppi) was included in the loan as i was under the impression that i would not otherwise qualify.

Forbes Douglas claimed that I have potential claim value of around £1717 and that they would pursue the case for me for 30% of total return.

First Plus recently wrote to me regarding the PPI and stated i would be eligible for a full refund as the PPI has expired, I returned the relevant form and advised Forbes Douglas via a phonecall, which they stated they would update onto my records with them. Forbes Douglas stated that this was separate to the claim they were doing?

I recently received a cheque from First Plus for the ppi loan value for £2400.


I am unsure now what to do, do i:

• Advice Forbes Douglas of the payment I have recieved
• Write to Forbes Douglas to cease any further action in the claim they are pursuing.
• Let them them continue with there case, which is at the Financial Ombudsman stage.

If it means that I have Forbes Douglas 30% then thats fine, but i think there maybe be two claims or i have got it completely wrong.

Thank you

Ravi

Hi there, this is cashback that you have recieved and nothing to do with mis sell claiming,the people you have on the claim side of this should not take a % of this (bet they do!!!)

This ppi is a win win,you should not have to pay 30% to them for doing nothing!!! give the company a ring and tell them you will not be persuing the ppi mis sell as you have had this back per your contract and will not do mis sell,make sure you get it in writing that you have dispensed with thier services.


If you carry on with this company, you may end up with a bill for the 30% on the whole of the ppi and the money you get for the ppi paid to date and the interest on those.

You will end up with a bill for this company and no compensation..and ppi still on the loan!!.
All it takes is one letter to FP to get the mis sell.

di3004

Ravis wrote: »

Thank you for yor response, I have signed documents with Forbes Douglas back in November 2010 to act on my behalf, in hind sight I should have iniated the claim myself.

Recent conversation I had with them I advised that i would be claiming the ppi premium as advised by First Plus and they advised for me to carry on and that there claim is separate and would continue, this is the point i am unsure about, what claim would they pursue if i have ralready recevied a payment from First Plus?

Any advice on how to cancel claim with Forbes Douglas? i understand that i may have to pay them related costs.

Kind regards

Ravi

Your welcome Ravi

I am not too sure on the cancellation terms with them, but you could ask for advice on this maybe with Claims Regulation who deals with these type of companies, although I'm not sure if they would be open now until office hours, but they should be able to put you on the right track.
http://www.justice.gov.uk/global/contacts/claims-management-regulation/index.htm

Please let us know how you get on, cheers x;)

amersall

Ravis wrote: »

Thank you for yor response, I have signed documents with Forbes Douglas back in November 2010 to act on my behalf, in hind sight I should have iniated the claim myself.

Recent conversation I had with them I advised that i would be claiming the ppi premium as advised by First Plus and they advised for me to carry on and that there claim is separate and would continue, this is the point i am unsure about, what claim would they pursue if i have ralready recevied a payment from First Plus?

Any advice on how to cancel claim with Forbes Douglas? i understand that i may have to pay them related costs.

Kind regards

Ravi

Hi there, you can still claim mis sell of ppi,the cashback of the ppi is still on your loan with interest to term end,if you go mis sell after cashback and win,then your loan will be reset without ppi and your balance will reduce,the monthly payment of ppi will come off your monthly payment,you will save all the way with this mis sell,the mis sell win will not get you any money back..but the loan will be reset,and this is what you want as the interest on your loan over the remaining term will be ASTRONOMICAL.

amersall

LETTER TO FP FOR MIS SELL OF PPI.

We/I believe we were mis sold the ppi on the above account number.
1)We/I were not told that the ppi was in effect another loan that was added to the original loan and was repayable over the loan term with interest.

2) We/I were not told that the ppi only covered us for 5 years, but the ppi would still be on the loan to term end with interest.

3) We/I were told that if we did not make a claim on the ppi ,after 5 years we would recieve the ppi as cashback, and to look on this as savings plan.. But were not told that the ppi would be on the loan to term end with interest and the cashback of ppi would not include the interest that we paid over the 5 years.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:
a) A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been needed, if the original loan had been sold without the PPI policy;
b) Restructuring of the loan going forward so that the amount owed, the monthly repayments, the term and the charges reflect those that would have applied, if the original loan had been sold without the PPI policy.
c) In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that Firstplus pays them back to us. We/i believe we were not given enough information on this ppi to make an informed decision. Had we/i known the full cost of this ppi we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for my/our circumstances we/I will require you to rearrange the loan as if PPI had never been included on the aforementioned loan.

THAT IS ALL THERE IS TO IT!! IS THIS WORTH 30% PLUS VAT?.