PPI Reclaiming Discussion part 4

beamerguy

cappo wrote: »

i coarse fish mate a bit tricky with the stroke but i manage with a bit of help,i love the peace of the countryside.steve:beer::)

I know fishing is off topic to this forum so have sent you a PM

beamerguy

Want your voice to be heard about The great Fraudulent activities of the Banks

Seems the BBC "Rip Off Britain" have the questions that need an answer

Have you:
• been ripped off?
• been a victim of unfair or sharp practice?
• paid for something that you feel was a total waste of money?

Send your replies here
http://www.bbc.co.uk/showsandtours/shows/beonashow/rip_off_britain

RIP OFF BRITAIN
CAPITAL ONE
MNBA
RBS
LLOYDS
any other rip off bank you are dealing with

irnbru74

irnbru74 wrote: »

hi there,
I'm going to show my ignorance again, can someone please tell me the signifance of single premium PPI, I have read on some threads that some of the complaints regarding misselling of single premium PPI are being upheld, is it because of the interest being added on, or is it if you cancel outwith cooling off period you only get some of premium back?
Sorry for appearing thick just want to get my head round it!
Have 2 loans with this - I think! I have mentioned single premium PPI with loan 2, but not with loan 1, the loan was with funding company and have rejected complaint, but have told us to get back to them if unhappy, we are currently waiting for a reply from SAR, we will then proceed, should we mention this as part of our redress of complaint?
Just want to make sure - are these examples of frontloaded PPI?
loan with Funding corporation -
loan amount was £12,000, total payable £15,745.60 APR 11%
PPI
amount of credit £2604
total amount payable £3419
APR 11%

loan with sainsbury's
amount of credit (a) £6750
cash advance (b) £1464.60
amount of credit sainsbury's creditcare gold (c) £2741.17
interest on S SG (d) £594.23
APR 7.7%

Can anyone also explain this to me -
Insurance premium tax is included in the non life elements of your premium at 5% this was with loan 2!

Thanks again

Hi Cappo,
When did frontloading PPI get banned, I added this to misselling complaint and the lady I spoke to said that some people are under the impression that they had this, but some loans got restructured, if this was the case with me surely my loan payment would have decreased and I would have had paperwork sent to me!
Also, because its is written down on agreement form, am I still eligible to complain about it?
From what I have written above, this is single premium PPI isn't it?
And do you know what this insurance premium tax is?

I am just about to demonstrate how stupid I am when it comes to this BUT, I
have just remembered that I actually had 2 loans with Sainsbury's figures
above were from second loan which I refinanced from first, think I only wanted an extra £1000!
I have found agreement form and here are figures

TAKEN OUT MARCH 2004 loan 1
ADVANCE - £5000
PPI - 2030
amount of credit 7030
total charge for credit 1667.10
amount payable 8697.00
APR 8.4%
This loan makes no reference to interest being added on, is it hidden?

Taken out Dec 2004 - loan 2
loan 2 with sainsbury's
amount of credit (a) £6750
cash advance (b) £1464.60
amount of credit sainsbury's creditcare gold (c) £2741.17
interest on S SG (d) £594.23
APR 7.7%

Confused, I am - Can anyone help, I have only mentioned loan 2 wth regard to complaint - loans have different agreement numbers, what do I do, if anything?

Thanks

di3004

virtualgirl wrote: »

sorry to sound silly, but how long do we give the banks to give us a reply on their decision, as its been 3 months and still nothing. All i got was 2 letters saying that they have acknowledged my complaint and looking into it, then another letter saying they are still looking into it, and haven't heard nothign for ages now.
should i write to them again or go straight to the ombudsman?
any replies will be much appreciated

Hiya

Which bank is this please?
Some have been give more time because of the backlog of these complaints.
I would though contact them and chase them up for an update, good luck.;)

beamerguy

cappo wrote: »

here you go beamer



http://www.business-sale.com/news/article/mbna-on-the-market-as-its-owner-decides-to-exit-the-uk-35190.html

Interesting Cappo about MNBA pulling out of the uk. They obviously see that the UK is no longer good for scams and will go to countries where they can rip people off easier. NOBODY SHOULD DEAL WITH MNBA

What about all the uk people they have ripped off ??

beamerguy

di3004 wrote: »

Hiya

Which bank is this please?
Some have been give more time because of the backlog of these complaints.
I would though contact them and chase them up for an update, good luck.;)

As Di said, which bank, we can give you the email of the CEO, you can then send a rocket up his backside

cappo

irnbru74 wrote: »

Hi Cappo,
When did frontloading PPI get banned, I added this to misselling complaint and the lady I spoke to said that some people are under the impression that they had this, but some loans got restructured, if this was the case with me surely my loan payment would have decreased and I would have had paperwork sent to me!
Also, because its is written down on agreement form, am I still eligible to complain about it?
From what I have written above, this is single premium PPI isn't it?
And do you know what this insurance premium tax is?
Thanks

as far as i can remember it was about 2007 i don't know anything about them restructuring loans. if you have been misold you are certainly entitled to put a claim in, it sounds like single premium ppi as all loans were then as far as i know, i assume loans are now a monthly premium, i've not had a loan in years so not 100% sure, yes and the insurance premium tax is normally levied on any insurance payment, it is what it says, tax on your insurance premium, hope this makes sense



http://www.thisismoney.co.uk/money/cardsloans/article-1676906/Costs-may-rise-on-single-premium-PPI-ban.html

kima09

kima09 wrote: »

Hi all,

Well I eventually received a reply from HSBC re my request and they have sent a blank Midland Bank agreement form with just my name and address on it & nothing else!!
This is what they said in their covering letter:

Section 78 (I) of the Consumer Credit Act 1974 requires us to provide " ... a copy of the
executed agreement (if any) ... ". Regulation 3 (2) of the Consumer Credit (Cancellation
Notices and Copies of Documents) Regulations 1983 allows that certain items may be
omitted from such copies, including the signature box and signature.

Therefore, the copy of the executed agreement we must supply is a copy but need not be
a photocopy of the signed agreement. Regulation 7 of those regulations also requires us
to provide a copy of the executed agreement, as varied, where there is a power to vary the
terms of the agreement, which there is with this card agreement and that power has been
exercised to vary the agreement, which again is the case with this card agreement.

We therefore enclose an up to date copy of the terms and conditions applicable to your
account and a reconstituted agreement form compliant with Regulation 3 of the
Consumer Credit (Cancellation Notices and Copied of Documents) Regulations 1983.
Therefore in accordance with this legislation the up to date terms and conditions are the
appropriate information to produce.

So, er - what do I do now???:eek: I don't recognize the writing on the form, & as I said there's nothing filled in except my name....there's a box suggesting the ppi with a tick-box, but obviously I don't know if I ticked it or not!! I honestly thought it was a pre-agreed form that I'd received, so I reckon I'm stuffed now, even though I was told by them that I had to keep the ppi to keep the card....:(:(:(
Oh well, it was worth a try I suppose.....thanks so much everyone for all your advice.

1.) Well I sent in the claim by filling in the template letter, and in due course I got a letter from back from HSBC saying that they have received my complaint and if i haven't filled in a questionnaire could I please fill in the attached one.......which was exactly the same form as i'd sent to make the claim. So - do I fill it in again, or ignore it?

2.) I had some stuff in the post from them, just general customer info, something about the policy (ppi) and it happened to say that the policy was underwritten by Aviva. Is this significant, should I be sending it to Aviva rather than HSBC?

3.)Whilst in the local branch recently I asked how long they kept information for, as I was really hoping that they would have a record of the telephone conversation where i was told that if I cancelled the ppi they would cancel my card and I would then have to repay the outstanding balance immediately, and I was told that they wouldn't have kept it as stuff is only kept for 6 years. Is this correct? I thought i'd seen stuff on here that referred to accounts etc from years ago.

Thanks again folks, always appreciate your help, wouldn't have even put the claim in without your encouragement!

sunny8_2

cappo wrote: »

as far as i can remember it was about 2007 i don't know anything about restructuring loans. if you have been misold you are certainly entitled to put a claim in, sounds like single premium ppi all loans were as far as i know i assume loans are now a monthly premium i've not had a loan in years so not 100% sure, yes and the insurance premium tax is normally levied on any insurance payment, it is what it says, tax on your insurance premium, hope this makes sense



http://www.thisismoney.co.uk/money/cardsloans/article-1676906/Costs-may-rise-on-single-premium-PPI-ban.html

I am waiting now cappo, i got a loan in 2008 with Central trust, didnt know i had it til i looked at the documents in may!! TO ADD INSULT TO INJURY, IT WAS FRONT LOADED & SET TO RUN OVER 300 MONTHS BUT I WAS 'ONLY COVERED FOR 60 MONTHS!! Pppfffttt!!:mad::mad::mad::mad: I tried to complain they down right said no, its been with the FOS since then...oh i do hope i get it & show them!! Horrible people!!:mad::mad::mad::mad:xx

sunny8_2

morning guys....Back to work today i am afraid :cool: , however, i am going to come on here tonight and read all about your upheld letters received today!!! :j:j:j:j:jGood luck :T:T:T:Txx