PPI Reclaiming Discussion part 4

amersall

Not so sure about the single policy on a joint loan, I think PPI only covered the main breadwinner but I could be wrong so don't quote me on that Good luck

The ppi only covered the second named borrower for death,yet they would still be liable for the loan payments or any default!,the "breadwinner would be covered for sickness and redundancy as well as death.
You are correct though dilus,front loaded ppi is a very big no no
And a win in its self

ballyclover

hi

hope someone can help, i have looked and searched the forums but cant find the answer i seek

MBNA sent me letter that after investigating a complaint about ppi has been upheld in thier favour as i had ticked the box on the application.i do not know if this was a internet applicaton or postal one, was such a long time ago. They have said they will no longer enter into further talks with me,having spoke on the phone they are willing to resend the orginal rejection letter along with a copy of the application.

If the applicaton is there and i did tick it, is there any point taking it futher, i would argue that just because i ticked it didnt mean i understood it, or i couldnt even say i had ticked it, would it be my word against theirs.Would i have to prove i ticked it and uderstood.

Thank you in advance

bethg2009

Hiya everyone,
I have just been going over the ppi t&c's on a mortgage/secured loan we took out with Future Mortgages back in 2003.
It states:

THE TIME YOU ARE COVERED

Your cover will last for the first 5 years of your loan. If the loan is for less than 5 years you are insured for the whole loan term. The time you are insured is called the "cover period"

Loan £22500
Insurance Premium £5850
Total £28350

Monthly payment £421.01

APR 9.80%

Over 96 months, which is 8 years.....
So I was only covered 5 years yet they continued to charge me for ppi??? Am I right? as my payments never ever reduced they stayed roughly the same throughout the full 8 years??
I never requested the cover specifically, and was advised due to poor credit history would have a better chance of being accepted if I took the cover. This has now been paid off in full in June last year could anyone tell me how much of a refund I may be entitled to (if any)

Thanks

micko123

ballyclover wrote: »

hi

hope someone can help, i have looked and searched the forums but cant find the answer i seek

MBNA sent me letter that after investigating a complaint about ppi has been upheld in thier favour as i had ticked the box on the application.i do not know if this was a internet applicaton or postal one, was such a long time ago. They have said they will no longer enter into further talks with me,having spoke on the phone they are willing to resend the orginal rejection letter along with a copy of the application.

If the applicaton is there and i did tick it, is there any point taking it futher, i would argue that just because i ticked it didnt mean i understood it, or i couldnt even say i had ticked it, would it be my word against theirs.Would i have to prove i ticked it and uderstood.

Thank you in advance

This is the very same thing that im going through at the moment ...mbna have told me that back in 2006 i took out the ppi online and that i had ticked the boxes and also told them i was employed which is total crap because i have been self employed all my working life , they have sent me back the online agreement showing the ticked boxes but these could have been already on the screen and it was up to me to untick them by clicking on them though i dont really know??... there is no sign on the agreement of anywhere that i said i was employed .They have also told me that they will not be having any further talks and that if i still want to complain i must do it through the ombudsman ....i`ll be writing to the ombudsman in the next couple of days when i have sorted oput the best way of explaining this issue.. good luck with yours Ballyclover

ballyclover

thanks micko, i need to see what they send me first as i cant remember if it was a online application or postal, but i will contact them again before the ombudsman

thickbuilder

hi
are there any reputable companys that will help claim ppi back
i have had a few loans since 2006 all of them are now paid up
i dont have any paperwork and dont know if i had ppi on them
i know who the lenders are from looking at my profile on credit expert
i have read the helpfull stickys but this sort of thing isnt my strong point
thanks in advance

cappo

thickbuilder wrote: »

hi
are there any reputable companys that will help claim ppi back
i have had a few loans since 2006 all of them are now paid up
i dont have any paperwork and dont know if i had ppi on them
i know who the lenders are from looking at my profile on credit expert
i have read the helpfull stickys but this sort of thing isnt my strong point
thanks in advance

don't think about a claims company mate there a waste of time, there's plenty of help on here for free, i've had a claim myself being done by a cmc before i discovered this forum and i've now had too take the claim back as the cmc were a total waste of time and did nothing.

cappo

bethg2009 wrote: »

Hiya everyone,
I have just been going over the ppi t&c's on a mortgage/secured loan we took out with Future Mortgages back in 2003.
It states:

THE TIME YOU ARE COVERED

Your cover will last for the first 5 years of your loan. If the loan is for less than 5 years you are insured for the whole loan term. The time you are insured is called the "cover period"

Loan £22500
Insurance Premium £5850
Total £28350

Monthly payment £421.01

APR 9.80%

Over 96 months, which is 8 years.....
So I was only covered 5 years yet they continued to charge me for ppi??? Am I right? as my payments never ever reduced they stayed roughly the same throughout the full 8 years??
I never requested the cover specifically, and was advised due to poor credit history would have a better chance of being accepted if I took the cover. This has now been paid off in full in June last year could anyone tell me how much of a refund I may be entitled to (if any)

Thanks

slightly off subject when you think about what these things cost on a loan and they only cover you for a few years it's a total con.

amersall

bethg2009 wrote: »

Hiya everyone,
I have just been going over the ppi t&c's on a mortgage/secured loan we took out with Future Mortgages back in 2003.
It states:

THE TIME YOU ARE COVERED

Your cover will last for the first 5 years of your loan. If the loan is for less than 5 years you are insured for the whole loan term. The time you are insured is called the "cover period"

Loan £22500
Insurance Premium £5850
Total £28350

Monthly payment £421.01

APR 9.80%

Over 96 months, which is 8 years.....
So I was only covered 5 years yet they continued to charge me for ppi??? Am I right? as my payments never ever reduced they stayed roughly the same throughout the full 8 years??
I never requested the cover specifically, and was advised due to poor credit history would have a better chance of being accepted if I took the cover. This has now been paid off in full in June last year could anyone tell me how much of a refund I may be entitled to (if any)

Thanks

This is front loaded ppi,this is a win for mis sell.
Write to the lender and put these reasons for mis sell.

This ppi was in effect another loan on the actual loan to term end with interest,but you only had cover for 5 years.

This was not explained to you at the point of sale,you knew the ppi only covered you for 5 years,but thought,as you would have no cover for the remaining term that you would not continue to pay this.

Had this been explained to you, and the full cost of this 5 year cover,you would not have taken this.

You were not given enough information on this ppi to make an informed decision,and want all ppi paid to date returned to you with 8%.

As this was 2003 they may come back with a refusal,if they do,post up the reasons they give and take it from there.
It is possible the company does not exist anymore,you need to find this out first.

Redress will be the whole ppi back,the interest on those payments and 8%.

qml1968

RBS...what a bunch of t*ss%rs...

I sent in a request for a copy of my Credit Card agreement on the 9th of January with the £1 fee and giving them 12 days to respond with the details....today, 32 days later, I have just received their response and got quite a shock....

They have returned my cheque along with an apology because they have "misfiled" my original agreement which is all well and good as the card is about 19 years old, however they go on to state -

"In the circumstances, we accept that we are not able at present to comply fully with your request made under section 78 (1) of the CCA and therefore, persuant to section 78 (6) of the CCA we are not able to enforce the agreement until such time that we are able to comply with section 78 (1). In view of this it would not be prudent to allow further spending therefore with immediate effect we have reduced your credit limit to £1000."

They then got on to say that "Although the credit agreement is currently unenforceable, the credit agreement is not void and your obligations to make payments to us under the credit agreement remain." They then go on to warn me that if I do not continue to make my repayments they will reister my details with credit reference agencies etc. etc. blah. blah. blah. The even sent me a copy of my current statement to re-inforce the fact that I owe them money a fact of which I am well aware as I have never missed a payment in 20 years and have a perfect credit rating.

So what they appear to be saying is that because of their mistake they are going to make me suffer by reducing a £5000 credit limit down to £1000 which I had taken a long time to build up despite me having had this account for nearly 20 years with no problems whatsoever and having paid them goodness knows how much in PPI over the years and never once having given them cause for complaint by missing any payments.

Well, they have about 4 weeks left to come back to me with a response to my PPI claim....lets see what they say now shall we...I will not be holding my breath...