PPI Reclaiming Discussion part 4

di3004

http://www.thisismoney.co.uk/campaig...in_page_id=506

Lloyds fighting to keep PPI gravy train

Daily Mail
30 April 2009

Lloyds Banking Group is fighting the ban on sales of payment protection insurance which was brought in to protect millions of borrowers following widespread mis-selling.
PPI VICTORY AT LAST

New rules should finally end the loan insurance rip-off. And not before time.
- PPI victory



The decision by the bank, which is propped up by taxpayers' money, has provoked outrage from consumer groups and politicians.

The Competition Commission announced the ban on selling policies alongside loans and credit cards after evidence the banks were creaming £1.4bn a year in profits from them. It comes into force in October next year.
Dr Vince Cable, Liberal Democrats Treasury spokesman, said: 'It's completely wrong for a publicly owned bank to be undermining efforts to clean this area up and protect consumers.
'PPI was seriously mis-sold in the past and as a result households around the country that should be protected are not.'
PPI is supposed to offer a safety net for borrowers who become unable to make loan repayments due to illness or redundancy.
But an estimated two million policies were sold to people who were never able to claim. Lloyds has joined Barclays and Shop Direct Group Financial Services in a legal challenge that claims there is insufficient evidence for a ban. Their appeal is scheduled for September 7.

beaniebabe

pinknico wrote: »

Hello beaniebabe, hope you are ok. Not heard anything yet!!! Waiting the 6 weeks that gumbi thinks it will take and that was almost 2 weeks ago I think.
The waiting is a nightmare isnt it? xx

Hi Pinknico
Thanks for that. The waiting sure is getting a nightmare and I don't know about you, but every month I make a repayment to Picture I really feel annoyed :mad:
When Gumbi mentioned the six weeks, is that when we would most likely receive a letter from FSCS or when they could pay us out ?

Take care. XXX

pinknico

I think the 6 weeks would be when they would only be declared in default and then they would start looking at cases, but I am not 100% ceartain on that.

sweetdreamer

I have been trawling through piles of statements this morning trying to calculate a claim for bank charges.

PPI was next on my list but have noticed on statement for Feb2002 the set up for the loan. There is a charge for PLP Premium = £682.00. I'm guessing this is the PPI taken up front maybe.
I don't have the paperwork going back on this loan and so would have been requesting this soon.

Can anyone confirm this is the figure I'm looking for and wether I might be able to claim back.

Thanks all

di3004

sweetdreamer wrote: »

I have been trawling through piles of statements this morning trying to calculate a claim for bank charges.

PPI was next on my list but have noticed on statement for Feb2002 the set up for the loan. There is a charge for PLP Premium = £682.00. I'm guessing this is the PPI taken up front maybe.
I don't have the paperwork going back on this loan and so would have been requesting this soon.

Can anyone confirm this is the figure I'm looking for and wether I might be able to claim back.

Thanks all

Hi there

There should be interest to reclaim as well.

I am not good at calculations myself, Marshallka is good at working these out, hopefully she will be along later, she may require more details, like date of the loan, if settled or still active etc.

But if this is a settled loan you can maybe try asking the loan company to send you a written breakdown of calculations on how they worked this out.

However, when reclaiming PPI, you do not need to add a figure amount on the letter, but here below is more details on how to reclaim with template letters etc, follow the reclaiming procedures on the link:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

The figures may come in handy later on, but if you have not the copy of the agreement for this you can do this by writing to the data dept, enclose a £1 postal order or cheque payment for this request, they should send you this by 12 days.

Good luck and post up for help when required.;)

sweetdreamer

Thanks di
Have just filled out the standars reclaim letter. The loan was taken out in 2002 but has been repayed and a further loan taken out on the back of this twice since so really need the details from natwest me thinks!

Will keep in touch and really appreciate all the advice you guys provide. :T

di3004

sweetdreamer wrote: »

Thanks di
Have just filled out the standars reclaim letter. The loan was taken out in 2002 but has been repayed and a further loan taken out on the back of this twice since so really need the details from natwest me thinks!

Will keep in touch and really appreciate all the advice you guys provide. :T

Hi Sweetdreamer

Good luck with this.

If you decide to request a full SAR (Subject Access Request), there is a letter template for this here:
http://forums.moneysavingexpert.com/showthread.html?t=1475553
With details, they have 40 days to comply and send everything requested on the SAR going back as far as 6 years in England & Wales, Scotland I believe 5 years, not certain about anywhere else, and with a charge of £10 cheque or postal order payment, this may help your case, hopefully they will send everything dated as from 2002, with one of my requests, it went back even to earlier years, so fingers crossed.

Give us a yell if you need help with anything in regards of PPI help.

Yes please keep us posted, cheers.;) Good luck X

sweetdreamer

Another question, sorry!
Had a quick search and can't see clearly, do I send request for loan agreement to same address as charges reclaim? Can't see another address indicated anywhere on info.
Thanks

di3004

sweetdreamer wrote: »

Another question, sorry!
Had a quick search and can't see clearly, do I send request for loan agreement to same address as charges reclaim? Can't see another address indicated anywhere on info.
Thanks

Hi there

You can write to the same address but in a separate letter.

A reclaim of PPI takes 8 weeks

A SAR request is 40 days, this is to request a full SAR of your information as stated on the letter template (SAR).

To request for a copy of the agreement is 12 days.

I would for now just request the Agreement, as this one is a lot quicker, and still send the reclaim letter, but in separate letters.

What is the name of the company, I shall look these up for you (address), just in case they have separate departments.

Otherwise they should all go to the same address otherwise, there is an address thread here if you want to check it out on there, if added:
http://forums.moneysavingexpert.com/showthread.html?t=1619943

I am popping out for a short while, back soon.;)

jayneybaby

sorry, (I am likely to be apologising a lot in coming posts!) just to clarify... should i cancel my ppi before claiming for a mis-sell? Now i know that i can get cover elsewher for my loan i am loath to keep paying it, amogst other things!