PPI Reclaiming Discussion part 4

ChrisandLaura

Hi All, Very new to all this so please go easy

I have heard a lot and tried to read as much as I can about reclaiming PPI but still a little uncertain if qualify.

Back in June 2005 Me and my partner took a loan out for our daughter ( to buy her a car after graduation) for £3000 the interest rate was much better than what her current bank graduate loan would offer her. The loan was for 3 years and with Nationwide.

We were / are in fairly decent paid jobs and both of sound health.

We finshed off paying the loan back in 2008 and i have recently come accross the paper work after a clear out.

The loan agreemnt set out the key financial data of the loan and Optional Credit Insurance.

Below this there was to areas to sign, one for the credit agreement and another with a box and space for signing saying "i wish to purchase optional credit insurance (Loancare cover)

The fixed sum loan agreement was signed by both me and someone from Nationwide, however we did not tick or sign the loancare bit ( whichh also says I also understand that i am purchasing the loan product above) I have never thought until now that I have purchased PPI and never would as loans we have taken out in the past have been relativly small. (i have a copy of the signed loan agreement)

however I also found loan approvel confirmation and how much our first direct debit would be and it was the monthly repayments INCLUDING loancare. I really should have spotted it at this stage.
The letter also says that You loan will be covered by loancare (again i did not read this) and if this does not meet your requirments you should contact us immediatley. I guess I was under the assumption that i would not be paying for loancare as i did not sign for it.

Does this class as being miss sold?and is it to late for me to start processing a claim?

I have never done anything like this before, however the cost of loancare was £380 would be very nice for our daughter in her new home

Hope you can help

beamerguy

katiebbb wrote: »

Still waiting on the Halifax since my late August upheld letter and still phoning now and then to see if they ever say anything different and, guess what...... today they did!!!!!

The guy I spoke to said that all complaints like mine (asked him what this meant and he said who had been waiting since May) WILL be concluded by 15th December.....

That means calculations and cheque will be with me by then AT THE LATEST......!! Quite excited!! I asked him to put that date in writing and he said he couldn't - surprise, surprise but he noted on my notes (which probably extend to something the size of a large encylopedia) that he had informed me that is what I should expect. I said I would be going to FOS if they fail this time - their incompetence is unbelievable.

I am expecting my first Friday update from Helen this week so I will see if her story is the same.

Interestingly they have a new recorded message when you phone now - something along the lines of "We will deal with your complaint within 12 weeks but it may take a further 30 days for a cheque to be issued, if appropriate". I did quote that when I got through but fell on deaf ears. Its been over 6 months for me now ... on the plus side they gonna have to pay me more money because they messed up on their svr cap - got a letter yesterday
!

Happy days in December I feel :T:j:T

HALIFAX / LLOYDS TSB YET AGAIN

Look, Lloyds have severe financial problems, basically they are bust

They are using every excuse not to pay ... all you can do is put pressure on them but at the end of the day, if they have no money what can they do, it's only a matter of time with Lloyds now

debtfreewannabee80

Hi Guys,

Hoping somebody can help me with some advice.

I was recently contacted by a reclaim company and signed some agreements for them to work on my behalf to reclaim any ppi/cc charges from various banks.

I could not remember if I had PPI on any of them but they said that they would send off the letters anyway.

Got a letter addressed to the reclaims company today from Barclays (who i took out a graduate loan with in 2005) stating:

"Dear Sir/Madam,

Thank you for your request for a copy of a credit agreement and financial statement. Our systems show that there is no sum payable under the credit agreement and therefore there is no requirement for us to comply with your request"

A letter also enclosed, addressed to me asked me to pass that letter on to the reclaims company and enclosed their cheque for £1.

May seem like a silly question but should I assume that I did not therefore have PPI on that loan?

I looked at a faint copy of my loan agreement (which wasn't signed and sent off to reclaims company) and thought that I did have PPI:

Loan amount: £9400
Amount repayable:think it said £11500 ish
Interest Rate: 7.9% or may have been 8.9%
Term:60 months

My monthly repayment was £242 and i paid it off after 26 months and my settlemet figure was £5000 approx on top of payments already paid. Any peeps good with figures think i did pay it?

Any advice/help would be greatly received.

beamerguy

debtfreewannabee80 wrote: »

Hi Guys,

Hoping somebody can help me with some advice.

I was recently contacted by a reclaim company and signed some agreements for them to work on my behalf to reclaim any ppi/cc charges from various banks.

I could not remember if I had PPI on any of them but they said that they would send off the letters anyway.

Got a letter addressed to the reclaims company today from Barclays (who i took out a graduate loan with in 2005) stating:

"Dear Sir/Madam,

Thank you for your request for a copy of a credit agreement and financial statement. Our systems show that there is no sum payable under the credit agreement and therefore there is no requirement for us to comply with your request"

A letter also enclosed, addressed to me asked me to pass that letter on to the reclaims company and enclosed their cheque for £1.

May seem like a silly question but should I assume that I did not therefore have PPI on that loan?

I looked at a faint copy of my loan agreement (which wasn't signed and sent off to reclaims company) and thought that I did have PPI:

Loan amount: £9400
Amount repayable:think it said £11500 ish
Interest Rate: 7.9% or may have been 8.9%
Term:60 months

My monthly repayment was £242 and i paid it off after 26 months and my settlemet figure was £5000 approx on top of payments already paid. Any peeps good with figures think i did pay it?

Any advice/help would be greatly received.

Did you have PPI ???, you know the loan payments so if there was no extras added, probably not

debtfreewannabee80

Thanks for your quick reply beamerguy.

I was unsure as to whether I had PPI added but £242 over 60 months works out alot more than the quoted £11500 repayable so just thought I may have had it added.

beamerguy

debtfreewannabee80 wrote: »

Thanks for your quick reply beamerguy.

I was unsure as to whether I had PPI added but £242 over 60 months works out alot more than the quoted £11500 repayable so just thought I may have had it added.

ok you really need to find out if a PPI was included

debtfreewannabee80

Any advice on how to find out if I def had it added? Barclays have just responded by saying "no sum payable etc etc" (see earlier post)

di3004

katiebbb wrote: »

Still waiting on the Halifax since my late August upheld letter and still phoning now and then to see if they ever say anything different and, guess what...... today they did!!!!!

The guy I spoke to said that all complaints like mine (asked him what this meant and he said who had been waiting since May) WILL be concluded by 15th December.....

That means calculations and cheque will be with me by then AT THE LATEST......!! Quite excited!! I asked him to put that date in writing and he said he couldn't - surprise, surprise but he noted on my notes (which probably extend to something the size of a large encylopedia) that he had informed me that is what I should expect. I said I would be going to FOS if they fail this time - their incompetence is unbelievable.

I am expecting my first Friday update from Helen this week so I will see if her story is the same.

Interestingly they have a new recorded message when you phone now - something along the lines of "We will deal with your complaint within 12 weeks but it may take a further 30 days for a cheque to be issued, if appropriate". I did quote that when I got through but fell on deaf ears. Its been over 6 months for me now ... on the plus side they gonna have to pay me more money because they messed up on their svr cap - got a letter yesterday
!

Happy days in December I feel :T:j:T

Yes seems like happy days ahead, well done!:beer:

Gracelands0

Hi - I'm new to the forum and would welcome some advice on reclaiming PPI.

I have successfully re-claimed from Egg in the past which was relatively easy but this was helped by the fact that I had all the details of the credit agreement. However I have since attempted to reclaim for my son in law who has taken out quite a number of loans over the last few years, but unfortunately does not have any information relating to these and as such is unsure whether there was any PPI taken out at the time. After following the PPI reclaiming guide I've got a copy of his credit history and sent the initial template letter requesting a copy of the agreements. All of the loans have now been settled but were still active within the last 6 years, but many of the responses received to date are quoting the fact that Section 78 of the Consumer Credit Act only applies during the lifetime of the agreement and as the accounts are now closed there is no longer a regulated agreement in place and are therefore refusing to provide any details. As I am uncertain whether there was any PPI on any of the accounts should I challenge this or give up without a fight?

beamerguy

debtfreewannabee80 wrote: »

Any advice on how to find out if I def had it added? Barclays have just responded by saying "no sum payable etc etc" (see earlier post)

You could ask them direct or request information by sending a SAR
Subject Access Request which will cost £10.