PPI Reclaiming Discussion part 4

di3004

ImmortalQueen wrote: »

Hi All,

Well just to let you know that the friend and I have finally got all the information, the FOS questionnaire & complaint form together ready to push in the post.

However, there is something niggling at the back of my mind, as the friend is complaining about two loans with the same bank, can they be put onto the same questionnaire or do separate questionnaires/ forms have to be completed? Do they have to be posted separately as well?

I've now also been asked to help a family friend with a similar matter concerning two loans with another bank and before I start completing one form for both, would just like feedback on my question.

Many thanks

Hiya

You can complete on the same form if you want to, for example if the reclaim reasons are the same that is fine, but remember to enclose both loan account numbers.
If you deal with these separately they can both go in the same envelope, that is fine.;)

Your having a busy time then lol, good luck and ask for any other help if required.:)

Niggly_2

Red_peppers wrote: »

Thanks Niggly,

This has been going around in my head all night so got up earlier and looked through the questionnaire i sent to them to complain. I have been very stupid.

When I first looked into this as a possible miss sell I looked at the original paperwork and because we pay £71 per month I presumed this was the PPI premium and not the interest element. So where I was asked on the questionnaire 'did you pay an upfront premium' or ' do you pay a monthly premium' I ticked the monthly option.

So when reading my replys I havent complained about it being a single premium, this I only learned about way after sending off the initial complaint. God I am stupid.

My reasons for mis sell were how we are both self employed - we own our business. So if we were ever off sick we would continue to be paid as we are not going to stop our own wages.
Also, we thought it was a condition of the loan.
We have life insurance and various work related insurance policy's to cover death in service etc.

It's a few years ago but did you have one call from FP or more?, the reason I ask is because I think we had more. The first where they said we wouldn't get the loan without PPI and another which I'm presuming is the recorded one where they quickly ran through the figures and kept asking us 'do you understand' or word to that effect. Anyway I may be wrong in this.

With our rejection we received a demands and need statement which only has my husbands name on it
It states he is self employed, it confirms his current employment provides sufficient income to repay if he was injured or Ill, that he would be paid for 12 months, and that he has death in service benefit.

Do you think it would be worthwhile to write back to FP with the info amersall gave me - about 4 key points I've got saved somewhere?

It's no wonder they refused my reclaim and gave final decision I bet they were laughing there heads off at me for not using the single PPI reason.

Thanks for trying to help me though :T

You are SELF EMPLOYED. You can not claim under the FP policy for redundancy. It states that the insured has adequete cover to pay the loan for 12 months and you have policies elsewhere.

Do the letter. Add in the fact you are self employed and that the payments are covered for one year due to policies. Therefore the cost of the cover with interest is greater than the the actual benefits that can be claimed.

Cant believe I am reading this (sorry temporary amnesia its FP)

Copy in FOS and get them on side.

The fact you didnt mention anything in your complaint about it being SP isnt relevent. FP have duty under the root cause guidence notes issued by the FOS to look at this as so many people have complained in the past.

They are taking too narrow an interpretation.........etc etc see magpiecottage has covered this.

Niggly_2

anaylorefc wrote: »

If memory serves I paid the loan out in full in 2003, so that would be 8 x £48.38, correct?

Cash premium? I can't remember if I'm totally honest.

Sorry we are going around in circles if the loan was paid off and the amount of ppi was the £600 + then yes thats right.

Niggly_2

cclissold wrote: »

Morning

Start date of loan was 09-10-04 but repayments started 3 months later on 09-01-05.
Finished paying 09-12-10. monthly payment was £268.25 (which was divided between the cash loan and insurance loan in the same proportion as they bear to the loan!! I think the last payment on 09-12-05 was about £30 less than the usual monthly payment (would this be the rebate). unfortunately it doesnt say on the agreement exactly how much each month from the £268.25 would be the actual PPI.

Thanks for any help you can give tho.

C.x

[FONT=&quot]£3774.96[/FONT][FONT=&quot] is the return of the ppi and interest up until 09/12/10[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Then 8% on the purchase price £2914.99 from October 04 to Sptember 11 is 7 years[/FONT]
[FONT=&quot]£2914.99 x 8% x7 = £1632.4[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Total £5407.36

[/FONT]

cclissold

Niggly wrote: »

[FONT=&quot]£3774.96[/FONT][FONT=&quot] is the return of the ppi and interest up until 09/12/10[/FONT]

[FONT=&quot]Then 8% on the purchase price £2914.99 from October 04 to Sptember 11 is 7 years[/FONT]
[FONT=&quot]£2914.99 x 8% x7 = £1632.4[/FONT]

[FONT=&quot]Total £5407.36[/FONT]

Cheers for that. Hope everyone is ready for the storm thatsacomin. Wind is already whipping up in the West Country. Batten down the hatches.

C.x

di3004

cclissold wrote: »

Cheers for that. Hope everyone is ready for the storm thatsacomin. Wind is already whipping up in the West Country. Batten down the hatches.

C.x

That's a lovely amount!:T:beer:.

Yes weather more or less the same here, scary, I don't like it.:o;)

peediedj

had numerous loans and credit cards over the last 10 years but havent got documents for any as all finished so not sure if i can claim ppi , do i need to have the loan or agreement number??

cclissold

di3004 wrote: »

That's a lovely amount!:T:beer:.

Yes weather more or less the same here, scary, I don't like it.:o;)

Me neither. Might sleep under the bed tonight!! By the way congrats on having such a beautiful country. Hubby drove us through there from Newport via cardiff then all the way up on the A470 up to Llanndudno a couple of weeks ago to visit relatives. The scenary was breathtaking especially over the brecon beacons. We even said we could live there if we could afford to move. Spectacular!

C.x

di3004

peediedj wrote: »

had numerous loans and credit cards over the last 10 years but havent got documents for any as all finished so not sure if i can claim ppi , do i need to have the loan or agreement number??

Hiya

You can still make a reclaim, many have still been successful in making reclaims even from the 90's, just make them aware that you've recently learnt of the mis selling of the PPI.

If any of them were with your bank you could call in and ask if they still hold any of the details, Lloyds TSB provided me with all details of all loans/credit cards that were sold ppi (account numbers), I did not have much paperwork, but still successful on the ones made so far.

Are any of these with your bank? The loan is normally the same as the insurance number.

peediedj

di3004 wrote: »

Hiya

You can still make a reclaim, many have still been successful in making reclaims even from the 90's, just make them aware that you've recently learnt of the mis selling of the PPI.

If any of them were with your bank you could call in and ask if they still hold any of the details, Lloyds TSB provided me with all details of all loans/credit cards that were sold ppi (account numbers), I did not have much paperwork, but still successful on the ones made so far.

Are any of these with your bank? The loan is normally the same as the insurance number.

1 with bank a few were with a subsiduary of bos so what do i do now?