PPI Reclaiming Discussion part 4

di3004

taylor72 wrote: »

Does anyone know how long they have to respond to the second letter we send them - I am also trying to claim back credit card PPI and sent the second letter to them recorded on 10th March - is it 8 weeks?

many thanks in advance

They have 8 weeks in full to respond and finalise the complaint, but for instance if the 8 weeks were fully used, I would give them your own timescale, if not say for instance out of the 8 weeks they did have, if they responded in the 6th weeks, give them 14 days.;)

Or if they have not resolved anything at all by the 8 weeks or not got back your entitled to take this to the FOS X

moon-shadow_2

Hi everyone, i am new to this, and in need of HELP, and hope that i am in the right place, I had remortgaged in 2004,with a single premium ppi, £3150, after hearing about MSE, and the mis-selling decided to go for it.
Mis-selling points were - pre-existing medical, self-employed, the term ony five years.
I wrote to Wessex, their reply was, they only act as administrators for Amtrust, and that i should write to the company who arranged the loan- Promise Finance, who went into administration April 2008.
I then wrote to the parent administrators of that company S A Ramsbottom & R M Hawes, of Deloitte & Touche, and also Lloyds who the insurance was with.
Lloyds have formerly responded via Cavell, advising they are unable to return any premiums, and i should direct it to Promise/Deloitte & Touche, i have a few days left before Cavell will close the claim.
I have written to Deloitte & Touche, both stage 1, and stage 2 letters, no replys at all.
I would just like some re-assurance, which direction should i further my complaint.

di3004

moon-shadow wrote: »

Hi everyone, i am new to this, and in need of HELP, and hope that i am in the right place, I had remortgaged in 2004,with a single premium ppi, £3150, after hearing about MSE, and the mis-selling decided to go for it.
Mis-selling points were - pre-existing medical, self-employed, the term ony five years.
I wrote to Wessex, their reply was, they only act as administrators for Amtrust, and that i should write to the company who arranged the loan- Promise Finance, who went into administration April 2008.
I then wrote to the parent administrators of that company S A Ramsbottom & R M Hawes, of Deloitte & Touche, and also Lloyds who the insurance was with.
Lloyds have formerly responded via Cavell, advising they are unable to return any premiums, and i should direct it to Promise/Deloitte & Touche, i have a few days left before Cavell will close the claim.
I have written to Deloitte & Touche, both stage 1, and stage 2 letters, no replys at all.
I would just like some re-assurance, which direction should i further my complaint.

Hi and welcome.;)

When companies close down they may have gone bust, liquidised, dissolved, gone into administration and so on there are many reasons, it maybe worth you contacting the Financial compensation Scheme (FSCS)to ask if any of the companies are also registered with them.

If this is the case, they should arrange to send you the forms through the post, where they will deal with these for you, its worth asking, just in case.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck, post up for any help.;)

moon-shadow_2

Thankyou for your valued help, i searched the FSA and the search came back that Deloitte & Touche LLP BS1 6GD, as authorised,
I also searched for S A Ramsbottom & R M Hawes BS1 6GD, they also came back as authorised.

*recovering_spendaholic*

Hi,

I wonder if anyone can answer this for me? I took out a Loan with LTSB in 1999, and took PPI with it. I did agree to the PPI but I was definitely mis-sold as I was led to believe that I wouldn't be accepted for the loan if I didn't take it, and was also told that I would have to pay a higher interest rate, amongst other things.

Anyway, my question is, although I took the loan out in 1999 (ie more than 6 years ago), I continued repaying it until mid 2004. So do I have a claim or not? Over the course of the loan I reckon I probably paid about £3000, if not more. The bloody loan was only for £8000!

Thanks in advance

di3004

moon-shadow wrote: »

Thankyou for your valued help, i searched the FSA and the search came back that Deloitte & Touche LLP BS1 6GD, as authorised,
I also searched for S A Ramsbottom & R M Hawes BS1 6GD, they also came back as authorised.

Hi there

Glad you checked them out on FSA.;)

Maybe the FSCS can help now then if these companies are listed with them, because if the companies are no longer running, you can also contact the liquidators/administrators, also put in a claim for them, and then the FSCS - the financial compensation scheme, as if they are also listed with them, if so then it will be the FSCS (Financial compensation Scheme) to deal with your cases.

You can check the Companies house website for contact address, on the company search here, just write in the name of the company and it should come up with who are dealing with these now in administrators or liquidators/solvency service.

http://wck2.companieshouse.gov.uk/90ddbc7433ed5e742839cdaa5afb553f/wcframe?name=accessCompanyInfo

Good luck.;)

di3004

*recovering_spendaholic* wrote: »

Hi,

I wonder if anyone can answer this for me? I took out a Loan with LTSB in 1999, and took PPI with it. I did agree to the PPI but I was definitely mis-sold as I was led to believe that I wouldn't be accepted for the loan if I didn't take it, and was also told that I would have to pay a higher interest rate, amongst other things.

Anyway, my question is, although I took the loan out in 1999 (ie more than 6 years ago), I continued repaying it until mid 2004. So do I have a claim or not? Over the course of the loan I reckon I probably paid about £3000, if not more. The bloody loan was only for £8000!

Thanks in advance

Hi there

I would try to reclaim on this then with your reasons, here is a link with more info and templates:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Write in your own reasons.

Its well worth a shot, so go for it.

If you have no longer have the agreement for this then it may be difficult to retrieve this from the company, as its gone 6 years, but if the loan was not paid up until 2004, they should hold some details at least for your loan, like the calculations and breakdown of the settlement etc, so it maybe worth you requesting for these first of all free of charge, but other than that request a SAR (Subject access Request), where they should send everything that is requested on the SAR going back as far as 6 years.

There is a charge though for this at £10 cheque or postal order payment, and they have 40 days to comply.

SAR thread here with details:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

When you write to them to reclaim, they have 8 weeks in full to respond, if you hear nothing at all by 8 weeks then go straight to the FOS, if they do respond but do not resolve your complaint then write back with further information and ask them to reconsider.

Post all letters by recorded delivery to ensure the letters been posted.

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.

Good luck and keep on at them, post up when you need help.;)

nickyb102

Hi,

I say it's got to be worth a go. I initially thought, are they really going to give me anything back, but I thought it had to be worth a try for the effort of sending a letter as my loans had been so large. After just my first letter I received two cheques last week totalling £7k!
My loans were taken out over six years ago but were settled in the last six years.
You can but try. Hope you have the success I did.
Good Luck

moon-shadow_2

hello again, i have been double checking the information that wessex had given me i typed in Promise Finance on the FSA reg, and Promise Finance current status was authorised, with a notice unauthorised to hold client money.
Im getting a little confused, am i now able to go to the FOS, with my complaint.

marshallka

di3004 wrote: »

Mis selling is so wrong and for people who have been mis sold, they have been out of pocket because of it.
It should be a right to have that money repaid directly to the person who was mis sold, especially when there are no arrears and so.

It is usual for the banks to only pay what you have actually paid in PPI and then take the rest off the loan balance. If say you had a loan over 60 months and you paid it for 12 months then they should get paid back to you in a cheque the part of the repayment for those 12 months that was for the actual PPI (with interest as you are actually charged interest on this as well plus 8% statutory interst) and then the remaining 48 months of PPI and interest is then to reduce your balance of your loan as you have not actually been out of pocket by these amounts. You are still getting back what you have actually been out of pocket by but you cannot get back in the form of a cheque what you have not yet paid over to them.

That is my understanding of this.