PPI Reclaiming Discussion part 4

di3004

familyskintforlife wrote: »

I have a question needing clear advice - I am severly in debt and using the consumer credit counselling service to manage my payments. All my creditors are getting smaller payments than agreed in the contract. All 4 bank loans have PPI and I beleive they were all mis-sold as I have a medical condition that was never questioned and my husband is self employed. In all cases the PPI was shown on the forms as a lump sum. Even though I have not kept to the contract can I still claim back the PPI? If so that will massively reduce the total debt outstanding.

Hi there

Yes you can, if successful, this will all help towards reducing the debt.

I would give it a try.

Here is more info:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

You will come across useful information in regards of PPI mis selling and reasons, that may also occur to you, so if mis sold, write to them with help from the template letters you will also come across on the link.

They have 8 weeks to respond in full.

If you receive a response and they have not resolved this in your favour, write back again with further information, in the final response, they should give you details on how you can take this further, normally with the financial ombudsman service (FOS) if eligible, this is if your not satisfied with their response.

Post all letters by recorded delivery to ensure your letters are received, you can track this down on the Royal mail website on the tracking part of the site.

If you've no agreements for these loans, you can write to them to request for these in a separate letter, you enclose a £1 postal order or cheque payment for each one, they should supply the copy of the agreements by 12 days of requesting these.

However, some send these back with a response from reclaiming, its up to you, the agreement may come in handy if you wanted to take this further such as with the FOS later on.

Good luck and post up anytime for help.;)

dialysis

pinknico wrote: »

Hello gumbi my claim has been with the FSCS since August 2008 in regards to Picture,should I be realistic and not expect any news before August 2009?
x

Hello Pinknico I also have a claim with them regarding Picture like you been waiting since August 2008 hope they sort it out soon as we may lose our home. Thank you to all for the updates lets hope for all of us waiting the end is in sight.

di3004

dialysis wrote: »

Hello Pinknico I also have a claim with them regarding Picture like you been waiting since August 2008 hope they sort it out soon as we may lose our home. Thank you to all for the updates lets hope for all of us waiting the end is in sight.

Hi there

Hope you all hear soon, seems to be slow running doesn't it.

Gumbi left some useful posts on here in regards of the FSCS and Picture.;)

Sorry to hear of your issues, in the news today, on the aol money news there has been an approved mortgage rescue scheme, you can also post up on the mortgage thread if you've not done so already, where they will try to help you through your options on this matter, good luck and here is the link of where I found that news on mortgage rescue scheme:
http://money.aol.co.uk/eu-approves-uk-mortgage-scheme/article/2009042007472504428924

pinknico

Hello dialysis, is it worth ringing the FSCS and telling them of your situation regarding your home? I have read on their website about financial difficulty.
We are having to take it month by month hoping we will here something.

blyth_2

can anyone give me some advice please.
Monument offered me a gesture of good will for £953 to be applied to my monument account, I wrote back and accepted only if they sent it to me in a cheque. Today they have sent me another letter offering another geature of good will of £2508 but also they want to apply it to my monument account. Can they do this or can I insist as it is a gesture of good will they pay me directley?

di3004

blyth wrote: »

can anyone give me some advice please.
Monument offered me a gesture of good will for £953 to be applied to my monument account, I wrote back and accepted only if they sent it to me in a cheque. Today they have sent me another letter offering another geature of good will of £2508 but also they want to apply it to my monument account. Can they do this or can I insist as it is a gesture of good will they pay me directley?

Hi there and WOW........:eek:, what a difference in the amounts, well done to you :beer::T.

If there are no missed payments (arrears) then you do have a right to have this paid directly to you, if this is the case, I would ask, at the end of the day they have changed this to an higher offer and if you want to accept this you can, but on your grounds.

I feel this will give hope to others as well.:T

Rachael_S_2

Hiya,
I have been successful in getting refund from EGG for my CC card PPI and have just heard today re my Egg loan PPI. They are going to refund that as well, but have decided to take it off my loan balance. I have sent an e-mail insisting on cheque as these were insurance payments and not loan payments. Can I insist on this? This loan has a good interest rate and I would rather use the money to pay off higher interest debt first.
Here's hoping I've done the right thing......
Rachael

Rachael_S_2

:j:j:j:confused

di3004

Rachael_S wrote: »

Hiya,
I have been successful in getting refund from EGG for my CC card PPI and have just heard today re my Egg loan PPI. They are going to refund that as well, but have decided to take it off my loan balance. I have sent an e-mail insisting on cheque as these were insurance payments and not loan payments. Can I insist on this? This loan has a good interest rate and I would rather use the money to pay off higher interest debt first.
Here's hoping I've done the right thing......
Rachael

Hi Rachael

Great news on the refund.:beer:

If you've no missed payments (arrears), then you should have the right to have this paid directly to you.
Yes you have done the right thing in asking.
Please let us know what they say, good luck.;)

blyth_2

I am on a payment plan with monument and it is up to date. I never asked them to up their offer they just did it. At no time in their letters have they mentioned the payment plan. The ppi has been paid for a number of years before I had any problems. In each of their letters they call the refund a greture of good will. So I think this gesture of theirs .should come directly to me.
Do you think I should insist they pay me in a personal cheque, or dont I stand a chance?