PPI Reclaiming Discussion part 4

dukeboxer

Hi all, new to the forum and seeking a bit of advice.

I took my current mortgage out in 2003 with Kent Reliance. I took out a 100% mortgage and was advised at the time that as my mortgage was over 90% of the property value I needed to take out PPI.

I have the booklet that they gave me at the time which states this as being the case.

I still have the mortgage and am wondering whether this practice is/was acceptable, or whether I would have a ligitimate claim for my PPI payments?

Any advice would be appreciated

Thanks

dilus

T4FF wrote: »

Thanks dilus, can I ask one question? Your comment here, could you clarify? Is that a cause for complaint under this mis-sold process? I have to say, my wife was staggered when she ended up with a settlement quote more than the outstanding balance! Suffice to say I'm assuming she had no idea it was front loaded aside from the multiple PPIs running consecutively!

My only potential issue here, is that the loan was settled back in 2005. We've had complaints ongoing with Barclays / Barclaycard since 2008 including a non-fulfilled SAR in relation to this loan. I have regardless, all transactions made on this loan in a full statement. Am I ok to proceed with the complaint still?

Thanks

Hi T4FF, Yes front loaded PPI is frowned upon by the FOS and is the most upheld reason for mis sell. Fill in the questionnaire and back it up with copies of every document you have with regard to it, they can't come back to you saying they have destroyed all records and for this reason can not uphold, if you send them what you have. If you have documentary proof of upfront PPI you're onto a full uphold. Look at beamerguys posts and if there are any other reasons for mis sell that apply to you include them too

T4FF

dilus wrote: »

Hi sarymclary,
1) Yes you can complain. This was upfront PPI which in the eyes of the FOS is a big no no
2) No I don't think you have left it too late, banks keep records of loans for up to 6 years after the loan ends but that doesn't matter as you have the original paperwork, that's a big help, well done :T
3)
Scroll down to Step 3 and download the questionnaire in Word or PDF. Fill it in highlighting the fact that it was "upfront PPI" and any other reasons you feel you were mis sold. Keep a copy for your records. Photocopy your original agreement and send the copy with the questionnaire by Recorded delivery to the bank in question. It's that easy. Good luck and keep us posted

Ah, you've actually answered all my questions too!

sarymclary

dilus wrote: »

Hi sarymclary,
1) Yes you can complain. This was upfront PPI which in the eyes of the FOS is a big no no
2) No I don't think you have left it too late, banks keep records of loans for up to 6 years after the loan ends but that doesn't matter as you have the original paperwork, that's a big help, well done :T
3) http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Scroll down to Step 3 and download the questionnaire in Word or PDF. Fill it in highlighting the fact that it was "upfront PPI" and any other reasons you feel you were mis sold. Keep a copy for your records. Photocopy your original agreement and send the copy with the questionnaire by Recorded delivery to the bank in question. It's that easy. Good luck and keep us posted

Thank you Dilus for the prompt reply.

I've just printed off the questionnaire, and have got the address from the Lloyds TSB website where to send the paperwork. I will complete it, and send it recorded delivery tomorrow.

I will naturally keep you informed.

Thanks again for reassuring me, and for the information.

S

dilus

sarymclary wrote: »

Thank you Dilus for the prompt reply.

I've just printed off the questionnaire, and have got the address from the Lloyds TSB website where to send the paperwork. I will complete it, and send it recorded delivery tomorrow.

I will naturally keep you informed.

Thanks again for reassuring me, and for the information.

S

You're welcome, good luck I'm afraid with Lloyds TSB you will need patience not luck but don't let that put you off, get back what they stole from you and keep every penny by doing it yourself. Remember they committed FRAUD and you are entitled to get proper redress

beamerguy

sarymclary wrote: »

Hi,
I had a bank loan, taken out in 4/4/2003 for £6,000 over 60 payments. I repaid the loan early, in 2007, and had somehow convinced myself that I wasn't going to be eligible to reclaim the PPI because of this.

However, yesterday I discovered the original loan documents, and did a quick search to find out if there was a time limit on claiming.

At the time I took out my loan, I wasn't even aware that I could opt not to have it! I was very naive when I took out the loan, it was done at a time when I was separated from my ex, who had taken away my car, which I relied upon to do my then job, as a parcel courier. I desperately needed to take out the loan to buy a car, and initially just wanted a car loan. I met with a member of staff at Lloyds TSB, who insisted that I took out a loan for twice the amount I'd asked for, so that I could clear my credit card balances with them. It made good sense at the time, as it was on a lower % rate. Shockingly, I've just realised I was paying a whopping 13.9% on this loan!!!

Here are the figures:
Loan : £6k (repayment £136.91 p/m)
Loan Protection : £1,382.21 (repayment £31.55 p/m)
Total loan : £7,382.21 (repayment £168.46 p/m)

The thing is, my job at the time was not as a direct employee of the courier firm, but more as a contractor, or self-employed courier. I supplied my own vehicle, submitted the paperwork for the parcels delivered/collected, and I got paid direct into my bank a/c. I started the job in the previous autumn (2002), but by September 2003 my job was made redundant, but of course, I received no redundancy. I tried to make a claim on the policy, but was told that as my benefit claim was for Income Support, not Unemployment Benefit, the policy wouldn't pay out.

I wasn't even made aware at this time that I could opt out of the PPI before, or during the period of my loan. So, I just kept paying it. I think I joined this site not long before I paid the loan off in full (after having to sell my house having fallen on even harder times).

So, my question is: do you think I have a case to make a claim? Have I left it too late? How do I go about claiming?

I had seen adverts on TV & online for companies to help you to claim, but suspect they'll just con me. I just don't trust anyone anymore, and have heard mention on this site before that successful claims have been made.

Apologies if I sound a bit dim, I'm not really, but have had the wool pulled over my eyes so much by the banks in the past (don't even ask me about them not settling my mortgage after my ex died, because they'd not sent letters to my address, that they'd sent to him before his death.... no joy with that one either).

Thanks in advance.

OK we are here to help and get you your money back. It is so sad that yet again we are dealing with the fraudulent bank called LLOYDS TSB.
How many people LTSB have defrauded is currently unclear but is seems to be vast and this year will expose them.

Don't know if you know but the CEO of Lloyds, Antonio Osorio, went on sick leave in the latter part of 2011. He got stressed out because he knew his bank was in serious trouble especially with the MEGA PPI claim back

LLOYDS PPI INSURANCE
This was not worth the paper it was written on and it was mostly via St Andrews in Ireland, an offshoot of LLOYDS.

For a Lloyds Member of staff to sell you a loan for twice the amount can only amount to a mis-sell and fraud, and if they lied to you, this is a very serious offence in law.

You can claim every penny back from the thieving Lloyds Banking Group.

DO NOT GO DOWN THE ROUTE OF USING A CLAIMS COMPANY, THEY WILL RIP YOU OFF

YOU CAN DO THIS YOURSELF FREE

Do you want our help ?

iancrotty

Sent my letter off today to barclaycard asking for the account number for my Egg card and also my old barclaycard. How long does it usually take to get a response. I was thinking that when the card was paid off it was still with Egg but now its barclaycard. Who's responsibility is it regarding the PPI should i be getting in touch with egg instead.

cappo

iancrotty wrote: »

Sent my letter off today to barclaycard asking for the account number for my Egg card and also my old barclaycard. How long does it usually take to get a response. I was thinking that when the card was paid off it was still with Egg but now its barclaycard. Who's responsibility is it regarding the PPI should i be getting in touch with egg instead.

i would think that you would have a response in a week or so the usual acknowledgement for an initial complaint is 14 days and you deal with barclaycard as they have purchased egg's liabilities.

paid_too_much

di3004 wrote: »

Write back and ask them to provide you with the evidence of the phone call, state they must still hold these details to have come to this decision to reject and you will appreciate they send you a copy of any evidence in concrete of the phone call that proves what they say.

Anyway, back then many assumed it was all part of the package because not being told it was optional in the first place, then assumed if to cancel that the full balance was to be repaid in full.
Again because the staff that sold it to you failed to explain the policy and how it worked, and yet if explained to you that it was optional you would not have taken it out, and if known it was optional at the time.

Tell them the sales staff failed in providing you with a clear explanation of the policy and it was their duty to do so and certainly not yours.

Hope that helps, ask they reconsider by 14 days and if they do not change the decision go to the FOS and the same if nothing heard by then.

Just keep on at them, good luck. x:)

I did this recieved 'wait 4 weeks letters' and then another rejection with my original application form attached showing I did not apply for PPI! They stated that the PPI was sold to me over the phone but as it was so long ago they don't have a record to send me, but they can't find any evidence of mis selling! doh! Do I have no choice but to pass this one to the ombudsman now?

Oh and happy new year to everyone, I took a break from all this over xmas holls as my family needed me ;)x

Egg_Chaser_12

I have finally had a responce back from the FOS re a MBNA Credit Card that I have tried to claim direct. The letter states that MBNA don't accept mis selling and so the case will be delt with by a Member of the FOS team personally and that they will contact me if they hear anything or I should contact them if MBNA contact me directly to settle.

Has anyone heard of this before and what was the outcome? Does it sound like a lost cause?


Won Cases:
NATWEST Total £11,900.00
Santander £2,500.00
Providian £1,600.00