PPI Reclaiming Discussion part 4

macgould

Hi All

I need your advise, I had several loans through a company called London Scottish and 2 car loans through Advantage Finance, I tried to claim off Advantage before to be told it was all done fairly so did not take it further, however should I still continue with the arguement? It was a bout five months ago.

I have never tried London Scottish and wondered if anyone had any luck with them, I am not sure I have any of the paperwork for these loans now.

:eek:

cappo

macgould wrote: »

Hi All

I need your advise, I had several loans through a company called London Scottish and 2 car loans through Advantage Finance, I tried to claim off Advantage before to be told it was all done fairly so did not take it further, however should I still continue with the arguement? It was a bout five months ago.

I have never tried London Scottish and wondered if anyone had any luck with them, I am not sure I have any of the paperwork for these loans now.

:eek:

A little has changed since the judicial review namely how these claims are assessed, put it in again and if you get any problems subject access request them, they will have to give you the info under the data protection act 1998.

inseriousdebt

My question is that if they decide to pay compensation or refund my premiums will they just take it off the balance I owe them or can I specifically ask for the money to be paid direct by cheque.

cappo wrote: »

Hi it will normally go to clear your balance with that lender if you clear your debt anything left you'll get back

I ask again as a friend in similar circumstances to me, has outstanding loan of £4500 and his compensation was £3000, Halifax initially wrote to say they will reduce his balance, however he called and recieved £3000 by cheque. and he still owes Halifax £4500.

Anyone have experience of getting the compensation via a cheque, if account is in arrears.

Much Appreciated

macgould

cappo wrote: »

A little has changed since the judicial review namely how these claims are assessed, put it in again and if you get any problems subect access request them, they will have to give you the info under the data protection act 1998.

Thanks I have just checked companies house, London Scottish Finance Limited are in administration, is there any chance on this?

cclissold

cclissold wrote: »

HI there - I also sent my acceptance letter by recorded delivery last saturday (3 sept) and still hasnt been delivered. contacted post office. very unhelpful. they said it could take until 22 sept. am afraid I lost my temper and put the phone down (foolish I know). Anyway fortunately i had taken a copy of my acceptance letter and have now faxed it to Halifax with another covering letter explaining why. dont know if they will accept a fax but I always live in hope.

C.x

UPDATE - Phoned Halifax this morning as my original letter still hasnt been delivered to them. Told them I had faxed my acceptance form and was that okay. They said that was fine and it was now on the system and with the calculations dept and I would hear from them shortly but couldnt give me definite timescales. Ah well. Lunchbreak over - Time to get back to work. Enjoy your afternoon everyone.

PS. Blue sky in the West but very windy!!

Placida

I am waiting for Barclays to review my complaint about mis sold PPIs & have been told to expect their decision by November 4th. I have had successive personal loans in 2004 (with PPI), refinanced in Feb 2005, November 2005 (PPI), November 2007 & December 2010 which is still in force.

When looking through paper work this weekend, I noticed the amount for my loan in Nov 2007(£16900 no PPI)) was less than the previous loan Nov 2005 (£17, 7000 with PPI) after 23 payments of £399.63 x 23 = £9 191.49.
I then had a "light bulb moment" & seem to remember talking to bank & saying I didn’t need PPI as I was a teacher & hence the new loan. I do not have the settlement figures so I don’t know how they calculated new £16,900 loan amount.

Nov 2005
Amount of loan: £17,700 + Premium loan £5,334.19
Total charge for credit: £8,095.56 + £2,439.17
Total amount payable: £25,795.56 + £7773.36
Monthly payment: £307.09 + £92.54
Interest 11.435% p.a.
payments 84

Nov 2007
Amount of loan: £16,900
Total charge for credit: £3,135.80
Total amount payable: £20,035.80
Monthly payment: £333.93
Interest 6.910% p.a.
payments 60

My questions are
1. If Barclays agreed to cancel my PPI in Nov 2007 does this mean they will have to agree they mis sold ppi in 2004 (My circumstances were the same)
2. Will Barclays now follow FOS guidelines for “successive single premium payment protection insurance” to recalculate the all my loans & the payments up to my present one, to what they would have been if I had taken the first loan in 2004 without PPI & pay me compensation?
I would really appreciate some help. Should Request a SAR now or wait for their decision?

Thanks I would be so grateful for any advice

magpiecottage

macgould wrote: »

Hi All

I need your advise, I had several loans through a company called London Scottish and 2 car loans through Advantage Finance, I tried to claim off Advantage before to be told it was all done fairly so did not take it further, however should I still continue with the arguement? It was a bout five months ago.

I have never tried London Scottish and wondered if anyone had any luck with them, I am not sure I have any of the paperwork for these loans now.

Advantage, as the intermediary, is responsible for any insurance it sold, not the lender.

If you want to take them to the Financial Ombudsman Service you had better get your skates on as you only have six months to do so from the date of Advantage's letter rejecting your complaint.

I suggest you call the Financial Ombudsman Service on 0800 023 4567.

They will complete their form over the phone for you and put it into the post. You then sign it and send it back.

macgould

magpiecottage wrote: »

Advantage, as the intermediary, is responsible for any insurance it sold, not the lender.

If you want to take them to the Financial Ombudsman Service you had better get your skates on as you only have six months to do so from the date of Advantage's letter rejecting your complaint.

I suggest you call the Financial Ombudsman Service on 0800 023 4567.

They will complete their form over the phone for you and put it into the post. You then sign it and send it back.

Thanks I will dig out the paperwork tonight and have a look.

nanaw

Hi, I tried to find an answer to my question on this forum but I cannot so I will ask my question and I hope someone wil be able to answer it.
In the last 5 years I took 5 loans (I had to take next one to re-pay the previous one). I know I have a PPI on at least 3 of them. I sent letter to Natwest (with £10) and I only got copies of the 2 loans. They said that they dont have other copies, including the paperwork for the latest loan. I lost all my documents due to fire. Is there any law saying how long they have to keep documents? many thanks, Anna

Twitchy1

Hi, sorry if I'm posting in the wrong place, not too good with forums etc!!

I have a question I'd really appreciate some help with please? I had a grad loan which I took out in jul 2001, which came with ppi (5200 loan, 931.76 ppi, ouch!). I didn't really know anything about finance at the time, I'd just finished uni, had an offer of a job to start in the sept, but at the time was not working - I needed the loan to get a reliable car to get to work in for sept & to clear a bit of credit card debt. I am also diabetic, & was then, which these days I am aware would exclude me from a lot of insurance terms on medical grounds as there is a wide range of what they will lump in under pre-existing conditions (including heart attacks!). I don't have any paper work other than the statement of the loan, which details the insurance payment but no insurance details (t&cs, ref no etc). From this site it looks like the policy was probably missold (I don't remember any info on the medical aspect alone, & find it odd that I was given ppi whilst not employed??)... does it sound like I was missold, (& is there any way I can be sure without the t&c info, which the bank have refused to give me!) & given that I have very little info, do I have a cat in hell's chance of getting anywhere?

Hope that makes sense, sorry if I'm being an idiot/posting in the wrong place!!

Thanks,

Twitchy