PPI Reclaiming Discussion part 4

p9ul

Hi Guys, first post, please be gentle.

Recently had a response from Intelligent Finance about reclaiming on PPI from a loan I had a few years ago. Fist thing I'd like to say is thanks to IF for actually replying in just 4 weeks from sending the form in to them. :T

Two things I hope could be clarified though.

Firstly, the offer is made up of 2 elements, the refund of the premiums and the interest that's calculated at 8%. There's no sign of the interest as paid on the premium. I've been on the phone to them and asked if this is correct and the answer I've been given is basically "we don't pay that" and if I wanted to take it further I should contact the ombudsman. The figures I've been offered are £844 refund of premiums and £460 interest - can anyone tell me if it's worth actually chasing the extra amount? (I had a £10k loan over 5 years).

Secondly, the letter states that if I tried to make a claim on the PPI I may be entitled to a higher offer. I was out of work for around 5 months during the loan period, and find it hard to believe I wouldn't have tried to claim - but the letter states I didn't. The lady I spoke to on the phone says to get in touch with Pinnacle, although this would be a seperate claim from the PPI.

Any advice appreciated, and many thanks for the inspiration!

amersall

icmelerlovers wrote: »

https://forums.moneysavingexpert.com/discussion/3551035

U see some stuff about time credit offered by comet
Hope this helps

Cheers for this

[Deleted User]

cappo wrote: »

in the years before 2007 it would have been front loaded as to the info for the additional loans you could try to just put in what you have, i'd write a letter and include all the other loans you were told about and what details they told you about ref numbers etc and go from there.

That's exactly what I've done. Thanks again!
The only information missing from the claim form is the date of the two loans, when they ended (early) and for how long I had been working for my employer at the time. As the other three claims have all this information plus supporting paperwork, I am confident there is enough evidence to support an overall redress being owed to me.
I'll let the Forum know as things progress....

amersall

evs32 wrote: »

Hi, I've just received my loan statement back from Welcome Finance (sent SAR and £10 cheque 10 days ago).
I'm now not to sure what to do next and how much PPI was actually added...
Below I have copied part of the loan statement and hope someone can confirm how much PPI I can actually claim for:

Acceptance Fees Personal Loan: £75.00
PPP - Unsecured Loan: £808.00
Lifecare 24 New Business PL: £215.00
PERS Accident Plan - Unsecured: £195.00

Does this mean the total I can claim is just the PPP part or the full amount?

If I can claim any of this back what would the next step be?

Any help on this is much appreciated.

Thanks

This ppi was front loaded.a loan on aloan that was repaid over term with interest.

If it is welcome that can deal with this claim,you will get back the ppi you have paid to date with the 8%,and the loan reset,the whole ppi will come off the loan and your monthly payment should reduce by the ppi monthly amount if the loan is still running.


If the loan is paid off,you will get the £808 plus 8% interest back to you.

If the FSCS are dealing with this,you will get 90% of the ppi back,as they only compensate for the ppi and do not do mis sell.

Look here for other reasons for mis sell
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2
The front loaded is the main reason,and use any others that apply to you.
Fill the FOS questionnaire in and send it off,make a copy in case this goes to FOS,the form is number 3.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm
.

You do not need to put the amount you are claiming for,if you win redress they calculate this.

amersall

lebat wrote: »

Hi all,

Has anyone had any problems getting copies of credit agreements from HSBC?

I wrote to them using the template letter on the 26th January (enclosing the payment cheque) but haven't received a response from them.

The kicker is; I’ve received my bank statement and they have cashed the cheque and it cleared from my account on the 2nd February.

I’ve sent them a polite reminder letter; but wondering what the next step is if they drag their feet in responding. It’s to start my PPI claim as they told me that they wouldn’t approve my credit card application unless I took out the PPI with it.

They have 40 days to comply to a SAR,if it is past this time,then contact them, also look here for reasons for mis sell and see if anymore apply to you.
http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#step2

If it was just for a copy of the agreement,they should be moving faster,just to let you know,the agreement may not have had ppi on,this could have been activated later,if you have the card number put a complaint in and see what they come back with.

amersall

jintymi wrote: »

thanks for your reply.
how do i SAR them? will each bank give me info for all loans i have had with them? i think i have 6 different banks/credit cards to chase.

Here you are
https://forums.moneysavingexpert.com/discussion/1475553
If you did take ppi,on a CC this will show on every statement as a payment for ppi.
If you have statements that show no ppi there is a chance you may not have had it.
PPI is not put into the interest payments.

If you are still unsure then do the SARS,this will be £10 for each bank,so if you had a loan and CC with one bank,this will be one SAR.
Good luck.

mill1980

I sent a letter recorded delivery to santander head office in milton keynes would of arrived monday (20th) about a old cahoot loan I had ppi, how long do they have to initially respond?? I had sent a letter to the cahoot complaints in bradford recorded on 30th January but never received a reply and when I phoned cahoot to check they said the bradford address wasnt the right address....so I resent it to the milton keynes address.

wasn't sure if they had to respond saying they were looking into it etc my bank responded within 5 days thought santander would need to do the same?

amersall

dave73 wrote: »

Should I not send the egg ppi to barclays as they have the account now

I thought you had a claim with Egg
Here you are


Customer Relations
Barclays Bank Plc
Leicester
LE87 2BB

amersall

p9ul wrote: »

Hi Guys, first post, please be gentle.

Recently had a response from Intelligent Finance about reclaiming on PPI from a loan I had a few years ago. Fist thing I'd like to say is thanks to IF for actually replying in just 4 weeks from sending the form in to them. :T

Two things I hope could be clarified though.

Firstly, the offer is made up of 2 elements, the refund of the premiums and the interest that's calculated at 8%. There's no sign of the interest as paid on the premium. I've been on the phone to them and asked if this is correct and the answer I've been given is basically "we don't pay that" and if I wanted to take it further I should contact the ombudsman. The figures I've been offered are £844 refund of premiums and £460 interest - can anyone tell me if it's worth actually chasing the extra amount? (I had a £10k loan over 5 years).

Secondly, the letter states that if I tried to make a claim on the PPI I may be entitled to a higher offer. I was out of work for around 5 months during the loan period, and find it hard to believe I wouldn't have tried to claim - but the letter states I didn't. The lady I spoke to on the phone says to get in touch with Pinnacle, although this would be a seperate claim from the PPI.

Any advice appreciated, and many thanks for the inspiration!

The interest on the ppi monthly payment is in the payment amount,the ppi is put on the loan at the front and they times this plus interest over the term of the loan and that is the monthly payment,they have given you this back.

How much was the ppi total and is the loan settled or still running?.
This will depend on the redress you get.

With regards to the claim on the ppi.do not see how this works,as they have cancelled the ppi when you won mis sell,unless they meant claim on the insurance and they will adjust the redress for the mis sell to take this into account?.
Ring Pinnacle and ask,you never know you may get some more back .

amersall

mill1980 wrote: »

I sent a letter recorded delivery to santander head office in milton keynes would of arrived monday (20th) about a old cahoot loan I had ppi, how long do they have to initially respond?? I had sent a letter to the cahoot complaints in bradford recorded on 30th January but never received a reply and when I phoned cahoot to check they said the bradford address wasnt the right address....so I resent it to the milton keynes address.

wasn't sure if they had to respond saying they were looking into it etc my bank responded within 5 days thought santander would need to do the same?

They have 2 weeks to acknowledge your letter and a further 6 weeks to give you a final response.