PPI Reclaiming Discussion part 4

smitchy73

irnbru74 wrote: »

Hi,
I have ongoing claims against PPI and I was wondering if anyone can help and tell me if cancelling them will disadvantage me?
I was going through financial difficulties in 2007-2009 and was in process of arranging repayment plan with LTSB cc, when one of their advisers mentioned that I had PPI and told me that I could cancel it. I had seen this insurance on my statement and thought it was compulsary (don't remember getting asked about it, certainly didn't know it was optional as I was paying £50 at that time for the privilige of having it, feel very stupid now, especially as I was really struggling at the time and could have done without £50 being added to monthly total)
At the the same time I had a loan with BOS, which had PPI, which I knew about, but was advised to take as it would help me with credit application (I needed money)Anyway I decided to take a chance and write a letter to see if I could cancel this. They sent me a cheque for £350, which I gladly took at the time as I was skint!
But the PPI in total came to around £3000, have I blown myself out the water by accepting this?
Thanks

As some of the others have said the cancellation of the ppi and them sending a cheque for £350 shouldn't affect the outcome of a complaint on mis-sale of the ppi. Worst thing is that they should take the £350 off any redress if they find in favour of you.
Fill in the FOS consumer questionnaire, keep a copy and send it off to the relevant bank.
Good luck and keep us posted and if you need anymore help just ask, it's all for the bargain fee of 0%.
PS If it's is BOS I think you can kick off your complaint on the phone, if you go to their website/online banking site it gives you details.

cappo

moneyangel22 wrote: »

I was paying 42.49 towards the ppi part of the loan each month. The total loan interest was £758.99, so do I just work out 19/60 of that??

Loan 2 was £58.39 per month and total £1789.96.

I have asked them for settlement calculations to confirm they actually did rebate part of it when I took out a bigger loan each time. To complicate it even more I have a 3rd loan which is still current and I believe had PPI originally but since cancelled, only I dont have the original paperwork for this one anymore. If I mention this loan to them do you think they will tie it in with the other 2 or make me do a sar to get the paperwork then have to do a brand new claim for this one?

Thanks for your help.

Hi moneyangel i've now got this with hsbc have 4 misold single premium policies from the early 2000's i had a small rebate on each it'll be interesting to see what happens with mine keep us all clued in how you get on and good luck.

amersall

ImmortalQueen wrote: »

Hi Everyone,

Hope you're all well

I had really hoped to get this sorted, but my friend is becoming quite despondent with the lackadaisical attitude of LloydsTSB (and my daily nagging as to whether they’ve heard anything).

As you know my friend received a letter on 08/07/2011 from FOS saying it had gone back to the bank and a reply should be forthcoming shortly. Well we’ve given the bank 3 wks grace and not heard a bean.

1.Is it actually worth emailing the CEO [EMAIL="antonio.osorio@lloydsbanking.com"]antonio.osorio@lloydsbanking.com[/EMAIL] and cc’ing it to [EMAIL="Customer.Care.Insurance@lloydsTsb.co.uk"]Customer.Care.Insurance@lloydsTsb.co.uk[/EMAIL] and should we include the account numbers (bearing in mind that my friend has got a very common name and it might be impossible to track if we don’t provide the account numbers)? Are there certain things we can/can’t mention when emailing these people?

2.Or do we just complete the FOS questionnaire and complaint form and with all the supporting documents send a copy to both FOS & LloydsTSB saying we’ve sent it to the other party.

3.Because we’ve not heard anything back from the bank, would our complaint be treated as a new and have to wait forever how long it takes, or would the clock have already started for the complaint bearing in mind my friend has been on the phone trying to get the bank to see sense?

Can we also claim against the banks for photocopying & printing charges

STYS

Cannot believe this :eek::eek::eek:
Send an email to osario at Lloyds,put account number and friends name,make it brief,just say that the ppi claim was upheld and paid out but that the ppi is still on the loan and there has been no response from Lloyds concerning this for 3 weeks,if they do not deal with this error within 14 days they give you no choice to take this to FOS.
do this and see what happens x.
Put also that you want redress for the time and effort you have spent on this and you will accept cash only :rotfl::rotfl:

andypandy8

hi could someone please clarify self employment reclaiming i have ppi on my mortgage with lloyds also 2 loans with m+s read my terms and conditions and it states if your business ceases to trade or you have to go bankrupt confused as i am self employed as a collecting agent working on behalf of a credit company so neither of those clauses apply to me. i work on a commission basis only and my hours of work fluctuate from one week to the next, lloyds have told me over the telephone that the insurance covers self employment but im not so sure read all the posts on here and people are saying some policys do so where do i stand regarding reclaiming. many thanks.

mercman1969

Hi folks,

Over the years we have had a number of credit cards and loans
How does this ppi claim work

Do we have to dig out all the applications and write in
we are pretty stressed at the minute with a critical illness in the family

Is there an easy, simple way of finding out if any of the applications have ppi?

We dont have alot of time so any way it can be done in short time would be appreciated

The_Marksman

mercman1969 wrote: »

Hi folks,

Over the years we have had a number of credit cards and loans
How does this ppi claim work

Do we have to dig out all the applications and write in
we are pretty stressed at the minute with a critical illness in the family

Is there an easy, simple way of finding out if any of the applications have ppi?

We dont have alot of time so any way it can be done in short time would be appreciated

give the compaines/banks a call, most have helplines set up for ppi complaints, they may even start the complaint over the phone so be prepared with your reasons for mis-sell etc.

Look here for info and reasons for being miss-sold your ppi

http://www.moneysavingexpert.com/rec...nsurance#step2

Once you have had a read though and have your reasons. You will need to fill in a consumer complaints questionnaire. Which I would download, have a read though and familiarise with the questionnaire. The questionnaire can be found here

http://www.moneysavingexpert.com/rec...nsurance#step3

the main info you will need to complete the questionnaire is:

• Loan account number/numbers
• start date
• finish date
• and your reasons

then complete the form and send it off

simples, hope that may help, good luck

leonc888

Hi,

My girlfriend has been paying PPI for the last 2 years and she only just told me she was under the impression she needed it to get the lower interest rate ?!?! can the bank do this?

Should she cancel this PPI as its not needed as the monthly payment we could cope with still if one of us lose a job.

The bank is Halifax also and its a personal loan!

any advise will be greatly appreciated

Thanks

The_Marksman

leonc888 wrote: »

Hi,

My girlfriend has been paying PPI for the last 2 years and she only just told me she was under the impression she needed it to get the lower interest rate ?!?! can the bank do this?

Should she cancel this PPI as its not needed as the monthly payment we could cope with still if one of us lose a job.

The bank is Halifax also and its a personal loan!

any advise will be greatly appreciated

Thanks

Look here for info and reasons for being miss-sold your ppi

http://www.moneysavingexpert.com/rec...nsurance#step2

Once you have had a read though and have your reasons. You will need to fill in a consumer complaints questionnaire. Which I would download, have a read though and familiarise with the questionnaire. The questionnaire can be found here

http://www.moneysavingexpert.com/rec...nsurance#step3

the main info you will need to complete the questionnaire is:

• Loan account number/numbers
• start date
• finish date
• and your reasons

then complete the form and send it off

simples, hope that may help, good luck

amersall

leonc888 wrote: »

Hi,

My girlfriend has been paying PPI for the last 2 years and she only just told me she was under the impression she needed it to get the lower interest rate ?!?! can the bank do this?

Should she cancel this PPI as its not needed as the monthly payment we could cope with still if one of us lose a job.

The bank is Halifax also and its a personal loan!

any advise will be greatly appreciated

Thanks

Do not cancel the ppi,with this being a loan you only get a small rebate of ppi and the reduction in your monthly payment is negligible,also the remaining ppi is still on the loan,put a claim in for mis sell,if you win the whole ppi is taken off the loan and you get back ppi paid to date with interest and your monthly payment goes down by the ppi amount.

amersall

leonc888 wrote: »

Hi,

My girlfriend has been paying PPI for the last 2 years and she only just told me she was under the impression she needed it to get the lower interest rate ?!?! can the bank do this?

Should she cancel this PPI as its not needed as the monthly payment we could cope with still if one of us lose a job.

The bank is Halifax also and its a personal loan!

any advise will be greatly appreciated

Thanks

Do not cancel the ppi,with this being a loan you only get a small rebate of ppi and the reduction in your monthly payment is negligible,also the remaining ppi is still on the loan, the loan is then reset without ppi sometimes going longer and with a higher apr.
Put a claim in for mis sell,if you win the whole ppi is taken off the loan and you get back ppi paid to date with interest and your monthly payment goes down by the ppi amount.