PPI Reclaiming Discussion part 4

helnag

rockydoggy wrote: »

i received a letter from welcome car finance that thay would pay back my ppi great until at the end of the letter its going onto my account with them can thay do that?

As Rosie said above well done you!!! Can I ask what were your reasons for mis-selling??

amersall

lalabibaby wrote: »

Thanks Amsersall - I have been busy sorting out the paperwork and almost have the first letter ready for sending. Will keep you posted.

hi lalabibaby.good for you -go get em good luck

Heather091284

Thanks Di3004. The loan was organised at Arnold Clark and the finance came from GE Capital. Arnold Clark also arranged the PPI, which according to my PPI certificate is managed by a company called Marketing and Managing Services LTD (MMS). Everything was arranged through Arnold Clark though. My PPI certificate states that MMS manage PPI on behalf of Arnold Clark. I am unsure if GE Capital had anything to do with the arrangement of the PPI, as I know they have previously been fined for mis-selling. All I was aware of was I had a car loan arranged through Arnold Clark and when I heard about PPI being mis-sold I checked all my credit agreements and realised I was also being charged PPI for my car finance so I am not exactly sure if it's Arnold Clark to blame, GE or MMS.:mad:

lucid-tentacles

ok i hope i'm posting i the right place. Back in jan 2005 i took out a 5 yr loan at lloyds/tsb together with loan protection insurance. because they said i wouldn't get it otherwise (though i have no proof or whay they said) . Also i am self-employed and have been since before i took out this loan. Do i have any grounds for retrieving some of this money.If so what should i do next.

Rachael_S_2

Hiya,

Just spoke to EGG regarding offsetting my refund against loan balance. They said this is their procedure and that FOS are aware of this. So I have just spoken to FOS and logged a complaint along the lines of that if they hadn't mis-sold the PPI they would never have had that money to start with. :mad::mad:

So now it is the waiting game. How long does this usually take? Worth the wait I suppose!

Thanks
Rachael

taylor72

lucid-tentacles wrote: »

ok i hope i'm posting i the right place. Back in jan 2005 i took out a 5 yr loan at lloyds/tsb together with loan protection insurance. because they said i wouldn't get it otherwise (though i have no proof or whay they said) . Also i am self-employed and have been since before i took out this loan. Do i have any grounds for retrieving some of this money.If so what should i do next.

It looks like you were mis-sold - first step is to send out your first letter - see template but use mainly as a guide, it will take a long time and will probably have to go through FOS (call me cynical!) but if FOS uphold your complaint you will be due all PPI paid plus interest of 8% - this is my understanding anyway -my advice - GO GET THEM!!

moon-shadow_2

di3004 wrote: »

Hi there

If the company are still active and you have gone through the procedures of reclaiming where they have given you the final response, and they did not resolve this to your satisfaction, then yes you can take your complaint to the FOS.;)

Thankyou again di3004, i sent both stage 1 & 2 recorded, i must be invisible , as i have had no response from either stages, i'll give FOS a go.

di3004

Heather091284 wrote: »

Thanks Di3004. The loan was organised at Arnold Clark and the finance came from GE Capital. Arnold Clark also arranged the PPI, which according to my PPI certificate is managed by a company called Marketing and Managing Services LTD (MMS). Everything was arranged through Arnold Clark though. My PPI certificate states that MMS manage PPI on behalf of Arnold Clark. I am unsure if GE Capital had anything to do with the arrangement of the PPI, as I know they have previously been fined for mis-selling. All I was aware of was I had a car loan arranged through Arnold Clark and when I heard about PPI being mis-sold I checked all my credit agreements and realised I was also being charged PPI for my car finance so I am not exactly sure if it's Arnold Clark to blame, GE or MMS.:mad:

Hi there

If this starts getting too messy, you could always contact the FOS helpline, they should confirm who you should pursue here, hope you get through this okay, keep us posted, good luck.;)
http://www.financial-ombudsman.org.uk/contact/index.html

di3004

lucid-tentacles wrote: »

ok i hope i'm posting i the right place. Back in jan 2005 i took out a 5 yr loan at lloyds/tsb together with loan protection insurance. because they said i wouldn't get it otherwise (though i have no proof or whay they said) . Also i am self-employed and have been since before i took out this loan. Do i have any grounds for retrieving some of this money.If so what should i do next.

Hi there

And yes you do have grounds to complain and to request a refund of what you paid in PPI plus interest etc.

If you've not done so yet, write to them.
Check this here for more info and templates, but use your own reasons:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

They have 8 weeks to respond in full.

Another letter maybe required if they have not resolved your complaint to your satisfaction.

The final response they send you details of the Financial ombudsman service (FOS) if still not satisfied.

Remember to post all letters by recorded post to ensure your items are delivered and checking this out on the Royal mail website, "tracking".

Just post up for help when required, good luck.;)

di3004

Rachael_S wrote: »

Hiya,

Just spoke to EGG regarding offsetting my refund against loan balance. They said this is their procedure and that FOS are aware of this. So I have just spoken to FOS and logged a complaint along the lines of that if they hadn't mis-sold the PPI they would never have had that money to start with. :mad::mad:

So now it is the waiting game. How long does this usually take? Worth the wait I suppose!

Thanks
Rachael

Hi Rachael.

The FOS stages can vary, although I hear they are getting on quicker than before.

Usually its some weeks before its passed on to the first adjudicator, sometimes a few months, so there is not actually a timescale, but this can also depend on if this becomes complexed or not.

Hopefully you will hear sooner rather than later, but they do seem to be moving on quicker than before, good luck.;)