PPI Reclaiming Discussion part 4

di3004

Phil_H wrote: »

Hello All

This is my first post and just after any general advice that any of you good people could pass on.

I am currently trying to reclaim PPI from the three organisations above.

Alliance and Leicester - After sending just one template letter they agreed a refund of my PPI. However no sign of the cheque and from reading other posts I believe they are holding onto the cash for as long as possible to make up their losses. :mad:

Nationwide - Trying to reclaim PPI on a credit card. I am now onto the second letter and they contacted me saying they are re assessing my complaint. Awaiting to hear from them (more than likely will be bad news).

AMEX - Again trying to reclaim PPI on a credit card that was sold to me over the phone. I have sent the second template letter and they stated I had no case. I am now going to go through FOS.

Just wondering if anyone has had any success with AMEX or Nationwide or have been throught the FOS with either organisation

Hi Phil

Good luck with your reclaims, have you tried checking on the Success thread next to this thread?;)

I have not heard of AMEX myself, but imagine many have.
Good luck anyway and hope its good news, keep at them.X

Credit-Crunched

di3004 wrote: »

Hi Phil

Good luck with your reclaims, have you tried checking on the Success thread next to this thread?;)

I have not heard of AMEX myself, but imagine many have.
Good luck anyway and hope its good news, keep at them.X

Yes you have di, its America Express! :rotfl:

di3004

Credit-Crunched wrote: »

Yes you have di, its America Express! :rotfl:

Hi CC.........now I am embarrassed........:o:o:rotfl::rotfl::rotfl:, I did not click it was AMEX :rotfl::rotfl::rotfl:, given me a right giggle though lmao:D

amersall

lalabibaby wrote: »

I have been reading these threads with interest ... we have a First Plus loan taken out 3 years ago with PPI .. I was led to believe that if we hadn't claimed on it in 5 years we could claim it back which is around 10K .. what I need to know is if anyone else has actually had this repaid by FP after the 5 year period ... if it is unlikely that they will pay out should I make a mis-selling claim now and see what I can get ?? I also didn't realise at the time that it would end after 5 years and that only first named could make a claim so I am not even covered!

hi there, go for mis sell, you will still be paying the ppi for the remaining term of the loan! even when you have claimed after the five years are up, if you go the mis sell route you have a mis sell case for the reasons you state,if you win mis sell the ppi will be taken off the loan balance,you will get your payments made to ppi that you have paid to date plus 8% interest, your monthly payment will decrease by the amount of the ppi monthly payment..it doesnt take a maths genius to work out which is the best option!! please go for this as this company needs teaching a lesson, if you need any help you will get all you need on this site, good luck

amersall

dazzer26 wrote: »

hi amersall your not wrong i'm waiting for my cheques from them and their 4 weeks is up tomorrow.

hi dazzer26. how did you get on, hope it was good news for you

di3004

This here is interesting for A&L reclaimers:

http://www.alliance-leicester.co.uk/loans/loan-repayment-insurance-announcement.aspx

Loan repayment insurance announcement

Important information for customers who took out a Payment Protection Insurance (PPI) policy to protect an unsecured personal loan between 14 January 2005 and 31 December 2007 following advice given over the telephone.

Alliance & Leicester today confirms that it has agreed a settlement with the Financial Services Authority (FSA) in relation to the way in which it handled phone advice prior to the sale of Payment Protection Insurance with unsecured Personal Loans between 14 January 2005 and 31 December 2007.

This does not affect any other products or PPI sales made without telephone contact.

As part of their investigation the FSA reviewed processes and a sample of phone calls and concluded that there was a risk that customers may have taken out an unsuitable insurance policy.

We have co-operated fully with the FSA’s investigation and have improved our systems and processes for telephone contact, and have also made changes to our training and monitoring from December 2007.

We apologise sincerely for our shortcomings. Customers can be assured that we are taking this matter very seriously and that we have reviewed and tightened up all our processes from December 2007 to ensure that all customers get the right information and advice.

Over the coming months we will be writing to all the customers concerned and will put right any disadvantage identified.
Questions & Answers

What should I do if I took out a PPI policy between 14 January 2005 and 31 December 2007 following telephone contact?

You need do nothing now as we will be writing to you in due course.

What if I have previously raised a concern about my PPI policy?

Again, customers need do nothing now. We will be reviewing any relevant complaints or rejected claims, and will be writing to customers with more details.

What should I do if I have a concern about the PPI policy I took out over the telephone before 14 January 2005 or after 31 December 2007?

This matter only relates to customers who took out a PPI policy to protect an unsecured personal loan between 14 January 2005 and 31 December 2007 following telephone contact.

If you took out a policy outside this period and have a concern over your PPI policy, the way it was sold, or its suitability, then you should contact us in the normal way through the normal channels, and your case will be looked into. Ways that you can get in touch:

• Call into any of our branches
• Phone – 0844 5619790 - 24 hours a day, 7 days a week
• Write to us at Let’s Work it Out, Alliance & Leicester plc, Carlton Park, Narborough, Leicestershire, LE19 0AL

What about a PPI policy I took out at a branch or over the Internet during this period?

This matter only relates to customers who took out a PPI policy to protect an unsecured personal loan between 14 January 2005 and 31 December 2007 following telephone contact.

If you have a concern over your PPI policy, the way it was sold, or its suitability, you should contact us in the normal way through the normal channels, and your case will be looked into. Ways that you can get in touch:

Kim_Possible

Hi
I would like to ask a question re payment protection plans linked to morgage on belhalf of my mother:

My parents took out a morgage 25 years ago which consisted of the morgage with a ppi and two endowment policies, the premise being the morgage would not make a loss and the endowments would even make a profit, effectively covering the morgage.

Both made a shortfall, ive posted about the endowment loss on that thread but my question is:
Can she claim the morgage ppi back as at the time of taking out the morgage she believed the protection plan was to cover eventuallities such as the moragage shortfall?

di3004

Kim_Possible wrote: »

Hi
I would like to ask a question re payment protection plans linked to morgage on belhalf of my mother:

My parents took out a morgage 25 years ago which consisted of the morgage with a ppi and two endowment policies, the premise being the morgage would not make a loss and the endowments would even make a profit, effectively covering the morgage.

Both made a shortfall, ive posted about the endowment loss on that thread but my question is:
Can she claim the morgage ppi back as at the time of taking out the morgage she believed the protection plan was to cover eventuallities such as the moragage shortfall?

Hi there

I would certainly give it a try, don't know what the chances are though as its some time ago, but you will never know if you don't try for a cost of a stamp.

Check this link here below for more info and template letters to help you through this and if you require any help, please just ask, good luck.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

amersall

Kim_Possible wrote: »

Hi
I would like to ask a question re payment protection plans linked to morgage on belhalf of my mother:

My parents took out a morgage 25 years ago which consisted of the morgage with a ppi and two endowment policies, the premise being the morgage would not make a loss and the endowments would even make a profit, effectively covering the morgage.

Both made a shortfall, ive posted about the endowment loss on that thread but my question is:
Can she claim the morgage ppi back as at the time of taking out the morgage she believed the protection plan was to cover eventuallities such as the moragage shortfall?

hi there, i am not sure there is a ppi policy that covers a short fall on a mortgage. i could be totally wrong and someone who has more knowledge than me will help you better and put me straight. i thought thats what the endowments are for?you may have been mis sold the endowment policys, and if the ppi on the mortgage you believe was mis sold because it was front loaded, or you have a medical condition, or you were self employed etc, then i would go for mis sell, sorry i couldnt be of any more help to you , please keep us posted. i am intrigued by this now as i have never heard of this type of ppi that may cover a mortgage shortfall

Kim_Possible

Hi,
Im not sure either thats why I was asking. The endowment has a shortfall, but both the morgage and two endowments were taken out in 85 3 years before the 88 endowment regulations therefore I dont know if they have a claim, but I am going to print of the relevant documents for them to fill out.
Thanks ill keep you posted