PPI Reclaiming Discussion part 4

smitchy73

cappo wrote: »

Thanks mate

you're very welcome.:D

cappo

what a friendly forum i can see why so many new people come on here

markyboihull

HELP, I was made aware for first time about unenforceable loans this week. i dug ou my policy and according to some advice sites it looks like my policy is all above board. However.
The only thing I can pick fault with is whether the Credit Charge is fair. Everything else is on agreement - signature, cred limit, fact that its secured oh no mention of cooling off period btw.
Here are my details : amount of cred £10500, 120months, apr variable 10.9% Taken out 1st dec 2005
TOTAL CHARGE OF CREDIT £6451.20
Does that seem fair?

The payment protection was stated as IN FULL FORCE though cant find anything agreeing to this, and recent statements show I am not paying any but first few years of repayment it shows up on statement. Have I cancelled it I do not know though should have I been paying it in first place

IS THIS LOAN LEGAL OR CAN I CHALLENGE IT

RuthnJasper

Evening!

Well, it's been around 12 weeks of waiting and then - when I get home from work - there are not one, but TWO envelopes waiting for me from M&S Money. "Hurrah!" I cry to Jasper dog - as he agrees to wait for his supper whilst I open them.

Grrr.....

BOTH of them are identical and spout guff entitled "Changes to your M&S PPI policies" and includes such gems as "...PPI is a free benefit on your M&S card..." (Oh really? Stop making me pay for the wretched thing then.) and the news that the policy is provided by Hamilton Insurance but is transferring to Aviva.

Oh, happy day...! Back to more waiting again, I suppose...

Best wishes to all... x

di3004

markyboihull wrote: »

HELP, I was made aware for first time about unenforceable loans this week. i dug ou my policy and according to some advice sites it looks like my policy is all above board. However.
The only thing I can pick fault with is whether the Credit Charge is fair. Everything else is on agreement - signature, cred limit, fact that its secured oh no mention of cooling off period btw.
Here are my details : amount of cred £10500, 120months, apr variable 10.9% Taken out 1st dec 2005
TOTAL CHARGE OF CREDIT £6451.20
Does that seem fair?

The payment protection was stated as IN FULL FORCE though cant find anything agreeing to this, and recent statements show I am not paying any but first few years of repayment it shows up on statement. Have I cancelled it I do not know though should have I been paying it in first place

IS THIS LOAN LEGAL OR CAN I CHALLENGE IT

Hi there

I am not sure about these matters as such but maybe someone else will know and will post up soon, otherwise please post on the loan thread where you may receive more advice on this one, good luck.
If you want to make a reclaim on the ppi this is the correct thread for this one anyway, ask for further help on this if required.
http://forums.moneysavingexpert.com/forumdisplay.php?f=12

di3004

RuthnJasper wrote: »

Evening!

Well, it's been around 12 weeks of waiting and then - when I get home from work - there are not one, but TWO envelopes waiting for me from M&S Money. "Hurrah!" I cry to Jasper dog - as he agrees to wait for his supper whilst I open them.

Grrr.....

BOTH of them are identical and spout guff entitled "Changes to your M&S PPI policies" and includes such gems as "...PPI is a free benefit on your M&S card..." (Oh really? Stop making me pay for the wretched thing then.) and the news that the policy is provided by Hamilton Insurance but is transferring to Aviva.

Oh, happy day...! Back to more waiting again, I suppose...

Best wishes to all... x

Hi there

I have one being dealt with by the FOS the underwriter/insurer Hamilton direction as well, wishing you luck and keep at them.;)

cappo

RuthnJasper wrote: »

Evening!

Well, it's been around 12 weeks of waiting and then - when I get home from work - there are not one, but TWO envelopes waiting for me from M&S Money. "Hurrah!" I cry to Jasper dog - as he agrees to wait for his supper whilst I open them.

Grrr.....

BOTH of them are identical and spout guff entitled "Changes to your M&S PPI policies" and includes such gems as "...PPI is a free benefit on your M&S card..." (Oh really? Stop making me pay for the wretched thing then.) and the news that the policy is provided by Hamilton Insurance but is transferring to Aviva.

Oh, happy day...! Back to more waiting again, I suppose...

Best wishes to all... x

Hi ruthnjasper it'll come, the banks and lenders are taking an eternity at the moment no news is good news i'd say, at 12 weeks of waiting i should say you have upholds there, they would have rejected already if they could have done, think about the extra interest.:)

amersall

markyboihull wrote: »

HELP, I was made aware for first time about unenforceable loans this week. i dug ou my policy and according to some advice sites it looks like my policy is all above board. However.
The only thing I can pick fault with is whether the Credit Charge is fair. Everything else is on agreement - signature, cred limit, fact that its secured oh no mention of cooling off period btw.
Here are my details : amount of cred £10500, 120months, apr variable 10.9% Taken out 1st dec 2005
TOTAL CHARGE OF CREDIT £6451.20
Does that seem fair?

The payment protection was stated as IN FULL FORCE though cant find anything agreeing to this, and recent statements show I am not paying any but first few years of repayment it shows up on statement. Have I cancelled it I do not know though should have I been paying it in first place

IS THIS LOAN LEGAL OR CAN I CHALLENGE IT

Hi there, have you reasons to go for mis sell with this ppi?,this could be a starting point.

The interest is a lot especially on a secured loan,take the credit charge and x over the 120 months that works out at £53 a month,someone who knows how this works will check to see if the interest is the 10.9%.

Dont think there is anything illegal about this interest to be honest,but i am no expert on this.

Doesnt look like the loan is illegal to me.

You may be better going mis sell on the ppi,if you have reasons,look here and if any/all apply to you then put a claim in.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

Who was this loan with?.

ned_nederlander

amersall wrote: »

After the 1st september you are looking at 12 weeks roughly,so dont post off until next thursday
What year was this loan?.
Dont forget to keep copies of anything you send and send recorded delivery.
Let me know how you get on.

Thanks again - what's the significance of the 1st of September ? what would happen if I posted it prior to that ?

ned_nederlander

ned_nederlander wrote: »

Thanks again - what's the significance of the 1st of September ? what would happen if I posted it prior to that ?

... and the loan is 5 years old in November of next year so 2007


the previous loan would have been around 2003 and was consolidated into the existing loan !