PPI Reclaiming Discussion part 4

cappo

jameshope wrote: »

Hi ... friend I am totaly agree with your words.

Miss Sold PPI is designed to protect consumers in the event that they are unable to work due to illness, injury or redundancy ensuring that their loan repayments are kept up to date.call missoldppiclaims(dot)net to help with your Payment Protection Insurance claims, specialize in PPI that are highly-rated.
And for any information regarding with this please contact missoldppiclaims(dot)net

Hi james presumably you know what we're all about on here, the forum is here specifically offering consumers advice to do there own claims, welcome to the forum.

beamerguy

di3004 wrote: »

Hi there

We do not normally suggest using claims companies and nor are they dealt with any quicker.

From what we are aware of, its less hassle doing your own reclaim and also less paperwork involved, so I am not sure if you should actually be advertising the company.

Please could you edit and delete the name of the business, or maybe speak to one of the MSE administrators to ask for permission, cheers.

Hi Di, you are too kind to them. Claims companies are like leeches

cappo

amersall wrote: »

:DHe did for me :D money off soap powder coupon

Oops :Dthat wasnt what you meant was it :p

Just as important to the housewife my woman, how are you mate

gingamonkey

Hi guys,
First time poster, but I've been watching from the shadows for some time! :cool:

I submitted a PPI claim for my Barclays secure loan around June/July of this year and received a call late last week to say that my case was being dealt with, and that I should receive a decision letter this week.

My main grumbles were (telephone sales application):

• Hard selling tactics (little chance of loan getting approved if I didn't take the insurance)

• Joint account but the salesperson didn't ask about my partner's circumstances - health, employment, etc

• Didn't make me aware that I wasn't obliged to take their insurance, and could have found cheaper insurance elsewhere

• Didn't highlight the fact that we'd only be covered for the first 5 years out of the 20 but would be paying instalments for the full 20 years - Just over £30,000 in total with interest, for only 5 years of cover! :think:

Glossed over this by saying that I'd get a full £12,000 PPI refund after 5 years if I didn't make a claim within this time (but failed to mention that I'd be paying a further £18,000 over the following 15 years, in interest payments JUST for PPI that I wouldn't be covered for anymore!) :mad:

How do you guys think this sounds? Do I have a good case for a refund?

If so, how do Barclays tend to deal with it - The secure loan is still active, so would they take the refund off my loan's balance or would they send a cheque for the amount?

Am I right in saying that the refund would amount to all PPI payments made to date + 8% of this total in interest, with my existing loan adjusted to remove the PPI and my monthly payment adjusted to account for this?

Thanks in advance, wouldn't have known where to start without you guys!

I'll let you know how I get on!

Gingamonkey
x

cappo

di3004 wrote: »

Hiya

Aww thank you so much.:A

Am getting there, and missed you all too xxxx:A

Hi lovely how are you

beamerguy

gingamonkey wrote: »

Hi guys,
First time poster, but I've been watching from the shadows for some time! :cool:

I submitted a PPI claim for my Barclays secure loan around June/July of this year and received a call late last week to say that my case was being dealt with, and that I should receive a decision letter this week.

My main grumbles were (telephone sales application):

• Hard selling tactics (little chance of loan getting approved if I didn't take the insurance)

• Joint account but the salesperson didn't ask about my partner's circumstances - health, employment, etc

• Didn't make me aware that I wasn't obliged to take their insurance, and could have found cheaper insurance elsewhere

• Didn't highlight the fact that we'd only be covered for the first 5 years out of the 20 but would be paying instalments for the full 20 years - Just over £30,000 in total with interest, for only 5 years of cover! :think:

Glossed over this by saying that I'd get a full £12,000 PPI refund after 5 years if I didn't make a claim within this time (but failed to mention that I'd be paying a further £18,000 over the following 15 years, in interest payments JUST for PPI that I wouldn't be covered for anymore!) :mad:

How do you guys think this sounds? Do I have a good case for a refund?

If so, how do Barclays tend to deal with it - The secure loan is still active, so would they take the refund off my loan's balance or would they send a cheque for the amount?

Am I right in saying that the refund would amount to all PPI payments made to date + 8% of this total in interest, with my existing loan adjusted to remove the PPI and my monthly payment adjusted to account for this?

Thanks in advance, wouldn't have known where to start without you guys!

I'll let you know how I get on!

Gingamonkey
x

Hi, well with your list above, you have every right to demand your money back, that is the good news, the bad news is that they have the right to offset any refund if you owe them money, it will be deducted from your current loan

cappo

gingamonkey wrote: »

Hi guys,
First time poster, but I've been watching from the shadows for some time! :cool:

I submitted a PPI claim for my Barclays secure loan around June/July of this year and received a call late last week to say that my case was being dealt with, and that I should receive a decision letter this week.

My main grumbles were (telephone sales application):

• Hard selling tactics (little chance of loan getting approved if I didn't take the insurance)

• Joint account but the salesperson didn't ask about my partner's circumstances - health, employment, etc

• Didn't make me aware that I wasn't obliged to take their insurance, and could have found cheaper insurance elsewhere

• Didn't highlight the fact that we'd only be covered for the first 5 years out of the 20 but would be paying instalments for the full 20 years - Just over £30,000 in total with interest, for only 5 years of cover! :think:

Glossed over this by saying that I'd get a full £12,000 PPI refund after 5 years if I didn't make a claim within this time (but failed to mention that I'd be paying a further £18,000 over the following 15 years, in interest payments JUST for PPI that I wouldn't be covered for anymore!) :mad:

How do you guys think this sounds? Do I have a good case for a refund?

If so, how do Barclays tend to deal with it - The secure loan is still active, so would they take the refund off my loan's balance or would they send a cheque for the amount?

Am I right in saying that the refund would amount to all PPI payments made to date + 8% of this total in interest, with my existing loan adjusted to remove the PPI and my monthly payment adjusted to account for this?

Thanks in advance, wouldn't have known where to start without you guys!

I'll let you know how I get on!

Gingamonkey
x

Hi ginga welcome to the forum

they are within there rights to take any redress off any missold win you could ask for a cheque repayment if you win though it can't hurt, you sound though like you have a very good case here, yes the 8% should be added even if it's upheld on a "goodwill gesture" which barclays seem to do a lot these days, good luck with this.

amersall

gingamonkey wrote: »

Hi guys,
First time poster, but I've been watching from the shadows for some time! :cool:

I submitted a PPI claim for my Barclays secure loan around June/July of this year and received a call late last week to say that my case was being dealt with, and that I should receive a decision letter this week.

My main grumbles were (telephone sales application):

• Hard selling tactics (little chance of loan getting approved if I didn't take the insurance)

• Joint account but the salesperson didn't ask about my partner's circumstances - health, employment, etc

• Didn't make me aware that I wasn't obliged to take their insurance, and could have found cheaper insurance elsewhere

• Didn't highlight the fact that we'd only be covered for the first 5 years out of the 20 but would be paying instalments for the full 20 years - Just over £30,000 in total with interest, for only 5 years of cover! :think:

Glossed over this by saying that I'd get a full £12,000 PPI refund after 5 years if I didn't make a claim within this time (but failed to mention that I'd be paying a further £18,000 over the following 15 years, in interest payments JUST for PPI that I wouldn't be covered for anymore!) :mad:

How do you guys think this sounds? Do I have a good case for a refund?

If so, how do Barclays tend to deal with it - The secure loan is still active, so would they take the refund off my loan's balance or would they send a cheque for the amount?

Am I right in saying that the refund would amount to all PPI payments made to date + 8% of this total in interest, with my existing loan adjusted to remove the PPI and my monthly payment adjusted to account for this?

Thanks in advance, wouldn't have known where to start without you guys!

I'll let you know how I get on!

Gingamonkey
x

You have a win here.

Did you get the cashback after 5 years?,if you did they calculate differently,if you did not,the redress is as you said,you get the ppi paid to date back to you with 8% (if not in arrears) the total ppi amount comes off your balance and the monthly payment goes down by the ppi monthly payment amount.

Good luck x.

amersall

Ginga,what year was this loan taken out?.

gingamonkey

amersall wrote: »

Hi there,sounds like First Plus to me?.:D

Did you get the cashback after 5 years?,if you did they calculate differently,if you did not,the redress is as you said,you get the ppi paid to date back to you with 8% (if not in arrears) the total ppi amount comes off your balance and the monthly payment goes down by the ppi monthly payment amount.

Good luck x.

Still within the first 5 years - We took the loan out in 2008.

Thanks for all the replies, looks like any refund would come off the loan balance then.

Shame, as I could do with the cold, hard cash at the moment.....but at this stage, I don't really care as long as I get a positive result!

Fingers crossed! :A