PPI Reclaiming Discussion part 4

cappo

Kuffs1978 wrote: »

Already done that. The FOS are truly crap, as they claim that because GE effectively loaned the money to Norton to lend to my sis, GE aren't bothered where the repayments come from,and since Norton have gone bust, the only person who can pay it back is my sister. But as the policy was cancelled last April and therefore it's no longer being paid for, surely GE are obligated to restructure the loan payments? The original loan agreement stated that my sister should pay £13,259 upon full repayment, and we were informed last week that her repayment balance stood at at £13,034 at the moment. Even without the interest etc that the FOS awarded, my sister repaid £1,154 in PPI so surely she'd be within her rights to ask that the same amount be deducted from the £13,034 which leaves £11,880, which is just under £1500 short of the full £13,259. This situation, and this country generally stinks. The rich keep finding ways to make the rest of us suffer whilst they get richer, and it really is no surprise so many people are taking their own lives. A lifelong friend of mine did exactly that just under two weeks ago. He was a very unassuming, gentle chap who never did anyone any harm. He never gave any indication of being unhappy with his life, but because he was also affected by this country's despicable government cuts and was also owed money by Norton Finance and like us, was paying far more money on a loan than he should have, he decided that he'd had enough and took his own life by jumping off Beachy Head in Sussex. I have a horrible feeling that one day I will hear that my sister has done something similar, but I wouldn't blame her if she did.

I'm sorry to hear about your friend that's terrible, what can i say kuffs you have a few options this is one see below



http://www.fscs.org.uk/?utm_source=Yahoo&utm_medium=cpc&utm_campaign=Brand


Or the cab might also be able to help, or go back to GE money and see what they say

Kuffs1978

cappo wrote: »

I'm sorry to hear about your friend that's terrible, what can i say kuffs you have a few options this is one see below



http://www.fscs.org.uk/?utm_source=Yahoo&utm_medium=cpc&utm_campaign=Brand


Or the cab might also be able to help, or go back to GE money and see what they say

Nice to know we're on the same page, as I spoke to the FSCS a week ago and they asked me to keep in touch to see whether Norton have officially gone into liquidation yet. The FSA have given me some advice and referred to their handbook on rulings and redress, and the CAB have had the Ombudsman's decision as well as a breakdown of my sister's income and expenses. I think they are hoping to put us in touch with some legal person. We've accepted that although the FOS ruled in our favour on the PPI, we're probably never going to see a penny of the money, so this whole thing has been a complete waste of time and energy.

cappo

Kuffs1978 wrote: »

Nice to know we're on the same page, as I spoke to the FSCS a week ago and they asked me to keep in touch to see whether Norton have officially gone into liquidation yet. The FSA have given me some advice and referred to their handbook on rulings and redress, and the CAB have had the Ombudsman's decision as well as a breakdown of my sister's income and expenses. I think they are hoping to put us in touch with some legal person. We've accepted that although the FOS ruled in our favour on the PPI, we're probably never going to see a penny of the money, so this whole thing has been a complete waste of time and energy.[/QUOTE



I know, it's soul destroying isn't it, absolutely rotten and as usual it's the consumer who pays the price, wishing you luck with this, It sounds like your doing everything you can.

emmaspice77

Hi im a newbie on here.

I have just submitted a claim to Picture in which ive got a secured loan with them. I took it out March 2007 for 23,000. They strongly recommended i take the PPI to help manage my credit!! They have since been taken over by Webb resolutions. I asked for a settlement figure last year as i wanted to try and either move the loan or pay it off! I worked out that I had paid of approx 13,800 i did not expect this to be all taken off as knew interest would be added. I was horrified when they came back to me and said it would be 25,822 as they had also added the PPI on!! I am hoping to get something back so i can try and reduce the loan as am desp to get rid of it!!!! has anyone had any successess with picture/webb resolutions???
Also I have had 4+ loans with HSBC all with PPI since 2000 does anyone think it may be worth trying to get that back?? Im employed and have been the whole time with 6months full pay/6 months 1/2 pay???
Would really appreciate some help am not very good at this kind of stuff!!!!

Thanks

cappo

emmaspice77 wrote: »

Hi im a newbie on here.

I have just submitted a claim to Picture in which ive got a secured loan with them. I took it out March 2007 for 23,000. They strongly recommended i take the PPI to help manage my credit!! They have since been taken over by Webb resolutions. I asked for a settlement figure last year as i wanted to try and either move the loan or pay it off! I worked out that I had paid of approx 13,800 i did not expect this to be all taken off as knew interest would be added. I was horrified when they came back to me and said it would be 25,822 as they had also added the PPI on!! I am hoping to get something back so i can try and reduce the loan as am desp to get rid of it!!!! has anyone had any successess with picture/webb resolutions???
Also I have had 4+ loans with HSBC all with PPI since 2000 does anyone think it may be worth trying to get that back?? Im employed and have been the whole time with 6months full pay/6 months 1/2 pay???
Would really appreciate some help am not very good at this kind of stuff!!!!

Thanks

Picture i don't know a lot about but HSBC if you have reasons for reclaiming would be worth it, see link below


http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

monstermuncher

It's definitely worth trying! Have a look at the reclaiming guides and follow the steps. You've got very little to lose.


Does anyone know if Halifax are still automatically upholding? I've just put a claim in for our TMPP which I know is more difficult than PPI. The reasons I believe we were mis sold, is because we paid £41pm to cover myself and my ex equally. My ex earned about 5 times what I did (I was only part time, I was just returning to work slowly after some health issues, which obviously wouldn't have been covered on the plan anyway). Our mortgage payments were low (it was right to buy, so as soon as it went from rent to mortgage the payments dropped).

Again, we were told it would help if we were worried about our credit rating, although I know we can't prove that.

I do think the product wasn't right for us though, if one of us was sick or made redundant, the cover paid half of the mortgage. The problem is, if it had been him (and didn't have the extensive sick package and death in service pension benefit that he did) then just covering half the mortgage payments wouldn't have been enough.

If it had been me, well the insurance payments were more than my contribution to the mortgage, which makes it rather pointless.

I don't have much of the paperwork, and I don't really feel able to 'fight' it if it's a rejection, so I just wondered what the chances of a simple complaint would be?

dilus

icmelerlovers wrote: »

i have just received letter from halifax upholding my complaint
on 4 loans .
it only took 2 calls and questionaire.

£1607.15 coming back into my account , im so happy :0)
i would like to thank the experts on here for their advice and help , these people give alot of their time for us and deserve all the praise . :T

now waiting on nationwide.

Brilliant news icmelerlovers :T good luck with Nationwide

icmelerlovers

dilus wrote: »

Brilliant news icmelerlovers :T good luck with Nationwide

thanks dilus

i received letter today , its says i need do nothing and check will arrive , not sure of time scales they take
but it will be nice when in my hand

dilus

icmelerlovers wrote: »

thanks dilus

i received letter today , its says i need do nothing and check will arrive , not sure of time scales they take
but it will be nice when in my hand

Hope it comes with a breakdown as you need to know how much 8% you get so you can pay tax on that Enjoy it when you get it

Classy_Chick06

Oh dear, this all sounds complicated to me, but i am after some advice from you know hows if possible.

To cut a long story short (ish) .
Myself and my x husband took out a mortgage in 1996 with Nationwide for 47,000 for 25 years (repayment mortgage with variable rate). At the time, i was due to undergo a hysterectomy due to abnormal cells, and i recall we was told that we had to have PPI but it might be a problem as i had an existing medical condition.
However, we did manage to get PPI through nationwide themselves and i am still to this day paying the insurance along with the mortgage.
Me and hubby split up 7 years ago (2005).
We have a son who has just turned 18 and both me and my son live in the house.
Hubby pays nothing towards the mortgage nor insurances although they are still in joint names.
I have heard about this PPI in the news, media and via friends but not really took much interest until now.
I did go to my lender last year with the hope of doing a transfer of equity so i could afford to buy my x hubby out and i could remain in the house. the fact that i was still paying the insurances for both of us was mentioned and they were going to sort that out at the follow up appointment but the follow up appointment got cancelled due to bad weather and never did get re-arranged so nothing has been sorted as yet.
Can someone just clarify things for me a bit clearer than i understand them now please.
Am i entitled to claim for mis sold PPI even though i have an exsisting mortgage with them too?
Has anyone got any experiences with nationwide in regards to this matter? Or anyone else in a similar position can offer some guidance, advice please.
I have read Martin`s blog on the first page and read through the relevent forms but all seems too confusing for me.
Any guidance would be very much appreciated.
TIA