PPI Reclaiming Discussion part 4

maxdp

aligerdie wrote: »

thank you for that, I will mention that in my form to the fos. Come to think of it, they normally are opt out rather than opt in buttons...(but I would never have thought of that before!)

thank you x

You are more than welcome. Have you done a SAR (sorry if you have posted that you have. Have not been able to read all posts)

Good Luck to you and go for it.:D

di3004

I know this has probably been posted before, but if missed here is a useful link with info in regards of PPI:

http://www.competition-commission.org.uk/rep_pub/reports/2009/542ppi.htm

Payment protection insurance (PPI)

Final report, published 29.01.09


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Report

• Full text of report

Appendices

• Appendix 1.1: Terms of reference
• Appendix 1.2: The Citizens Advice super-complaint
• Appendix 1.3: Conduct of the CC investigation
• Appendix 2.1: PPI policies - characteristics
• Appendix 2.2: Characteristics of PPI for different credit products
• Appendix 2.3: Short-term income protection—is it a form of PPI?
• Appendix 2.4: PPI and its alternatives
• Appendix 2.5: PPI and regulation
• Appendix 2.6: Characteristics of consumers of PPI
• Appendix 2.7: Company synopses
• Appendix 2.8: Parties that have provided evidence during the course of our investigation
• Appendix 2.9: PPI value chain
• Appendix 2.10: Advantages of single-premium PPI policies
• Appendix 3.1: Evidence for market definition
• Appendix 3.2: Analysis of PPI price increases for MPPI, PLPPI and CCPPI
• Appendix 3.3: Analysis of PPI price increases: methodology and results
• Appendix 3.4: Evidence on the extent of PPI search
• Appendix 3.5: The role of intermediaries in the sale of MPPI
• Appendix 3.6: The extent of competitive constraint placed on PPI by alternative types of insurance products
• Appendix 3.7: Complementary goods and market definition
• Appendix 3.8: Use of price comparison websites
• Appendix 3.9: Implications of CC GfK NOP 2008 in-home survey results for downstream market definition
• Appendix 4.1: Evidence from the parties regarding the variation in PPI prices from 2002 to 2006
• Appendix 4.2: PPI price dispersion
• Appendix 4.3: Evidence of switching of PPI-credit combinations and stand-alone PPI
• Appendix 4.4: The profitability of PPI distribution
• Appendix 4.5: The profitability of PPI and credit combined and the influence of PPI income on lending policy
• Appendix 5.1: Barriers and benefits to search
• Appendix 5.2: Switching costs for single-premium policies
• Appendix 5.3: Barriers to entry and expansion
• Appendix 7.1: Competition in the underwriting market
• Appendix 8.1: Vertical integration
• Appendix 10.1: A personal PPI quote for PLPPI, SMPPI or MPPI
• Appendix 10.2: An annual statement for PLPPI, SMPPI or MPPI from the credit provider
• Appendix 10.3: Switching costs for single-premium policies with pro-rata rebates
• Appendix 10.4: A comparison of the price and quality of MPPI policies sold at
  the point of sale and on a stand-alone basis
• Appendix 10.5: Claims profile for 36-month PLPPI and 60-month PLPPI and SMPPI policies
• Appendix 10.6: The impairment experience of insured and non-insured credit customers
• Appendix 10.7: Evidence from the distributors of possible waterbed effects on credit prices
• Appendix 10.8: Analysis of price changes
• Appendix 10.9: Simulating the effects of remedies to address a secondary market monopoly - methodology
• Appendix 10.10: Comparison of the effects of system and non-system remedies
• Appendix 10.11: Results of modelling exercise
• Appendix 10.12: Cost estimates by party
• Appendix 10.13: Cost estimates
• Glossary

kks

hi all

My first post in MSE so apologies if I'm in wrong place, format etc...my brothers took out loan with first plus 3 yrs ago and were desperate to consolidate and reduce debt. They did not query anything about PPI and following advice on this and other sites, we asked FP to send us all info they had. They had send my brothers a letter listing out all the checks to clear out various debts and at end of letter was PPI of 26k. Next page then says what total monthly repayments are going to be without breakdown of what is for what. But on other sheets which look like downloads from system there is a breakdown which my brothers don't remember being discussed with them. I know this is not much information but could anyone advice whether we should claim for PPI as it was not explained they would be paying interest on the PPI and how much that would increase the total loan.

thanks for taking time to read this

booi666

Well hello everybody,

Whats been happening since ive been away?

Hope everyone is ok and making lots of cash!!!!!!!!

di3004

booi666 wrote: »

Well hello everybody,

Whats been happening since ive been away?

Hope everyone is ok and making lots of cash!!!!!!!!

OMG BOO I thought I was seeing a ghost.......:eek: , how are you hunni?
Hope your well, we have missed you.:A

Di
X

di3004

kks wrote: »

hi all

My first post in MSE so apologies if I'm in wrong place, format etc...my brothers took out loan with first plus 3 yrs ago and were desperate to consolidate and reduce debt. They did not query anything about PPI and following advice on this and other sites, we asked FP to send us all info they had. They had send my brothers a letter listing out all the checks to clear out various debts and at end of letter was PPI of 26k. Next page then says what total monthly repayments are going to be without breakdown of what is for what. But on other sheets which look like downloads from system there is a breakdown which my brothers don't remember being discussed with them. I know this is not much information but could anyone advice whether we should claim for PPI as it was not explained they would be paying interest on the PPI and how much that would increase the total loan.

thanks for taking time to read this

Hi there and welcome.;)

It seems you may have a case here so give it a go.

Here is a link here with further information and templates:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Write to them add your own reasons to the template, they have 8 weeks to respond.

Another letter maybe required if not successful first time, keep on at them until you receive the final response.
In the final letter they should let you know how to take this further, such as with the Financial ombudsman service (FOS) if eligible.

Post all letters by recorded delivery, good luck and please keep us posted.

Di
X

booi666

di3004 wrote: »

OMG BOO I thought I was seeing a ghost.......:eek: , how are you hunni?
Hope your well, we have missed you.:A

Di
X

lol hi di,

Ghost well i am a bit white,could do wi getting in the sun:eek:

Apart from that im cool,

Hows u?

di3004

booi666 wrote: »

lol hi di,

Ghost well i am a bit white,could do wi getting in the sun:eek:

Apart from that im cool,

Hows u?

lmao :rotfl: :rotfl: , well Summer not long away now hun, so you can try to get a tan then, if we're lucky to get a Summer that is......:rolleyes: .

Yeah not too bad thanks, still dizzy as ever XX

booi666

di3004 wrote: »

lmao :rotfl: :rotfl: , well Summer not long away now hun, so you can try to get a tan then, if we're lucky to get a Summer that is......:rolleyes: .

Yeah not too bad thanks, still dizzy as ever XX

So wots new on here then?

Owt juicy

di3004

booi666 wrote: »

So wots new on here then?

Owt juicy

lol.......:p .

Well it has its busy times.......:D

Any luck with any of your claims yet hun? X