PPI Reclaiming Discussion part 4

tomhow

Hi all, wonder where I stand on this, I have been paying a PPI on a creditcharge card originally back in 1997 when I bought a PC.

I have been using the card (First National & GE Money) for 12 years and paying 80p per £100 balance, I was made redundant on the 1st March and applied for the PPI to kick in which as per usual took ages, had a reply saying that as of 16/03/09 the policy expired coincidence?

Phoned both the card and Cardiff Pinnacle Insurance, the latter said that yes it had expired on that date but The Lombard said a payment was taken on the 15/04/09 I have asked for proof the policy has expired and a copy of the paperwork with my signature on it, I am waiting but in the meantime I went to the Ombudsman and complained to start the process.

Anything else I should do????

di3004

tomhow wrote: »

Hi all, wonder where I stand on this, I have been paying a PPI on a creditcharge card originally back in 1997 when I bought a PC.

I have been using the card (First National & GE Money) for 12 years and paying 80p per £100 balance, I was made redundant on the 1st March and applied for the PPI to kick in which as per usual took ages, had a reply saying that as of 16/03/09 the policy expired coincidence?

Phoned both the card and Cardiff Pinnacle Insurance, the latter said that yes it had expired on that date but The Lombard said a payment was taken on the 15/04/09 I have asked for proof the policy has expired and a copy of the paperwork with my signature on it, I am waiting but in the meantime I went to the Ombudsman and complained to start the process.

Anything else I should do????

Hi there

How long ago did you take this to the FOS?

Hopefully they will resolve this for you, not sure due to the age of this though but there are other ways around this if the FOS are unable to deal with this matter.

Melorablack may know a little more on older finance, hopefully she will come across your post and give some advice, hope all goes well, but see what the FOS come back with first, good luck.;)

tomhow

I registered the complaint only this last week, so early days as yet, thanks for info about Melorablack though di3004

di3004

tomhow wrote: »

I registered the complaint only this last week, so early days as yet, thanks for info about Melorablack though di3004

Well good luck, if Melorablack misses this I shall try to let her know for you.;)

melorablack

tomhow wrote: »

Hi all, wonder where I stand on this, I have been paying a PPI on a creditcharge card originally back in 1997 when I bought a PC.

I have been using the card (First National & GE Money) for 12 years and paying 80p per £100 balance, I was made redundant on the 1st March and applied for the PPI to kick in which as per usual took ages, had a reply saying that as of 16/03/09 the policy expired coincidence?

Phoned both the card and Cardiff Pinnacle Insurance, the latter said that yes it had expired on that date but The Lombard said a payment was taken on the 15/04/09 I have asked for proof the policy has expired and a copy of the paperwork with my signature on it, I am waiting but in the meantime I went to the Ombudsman and complained to start the process.

Anything else I should do????

Hi Tomhow

You have done for the right thing asking for the agreement.

I would also ask for the policy schedule, which should have been sent to you when the policy was taken out and which contains informations such as when the policy starts and ends. This document should be tailored to your policy. Also ask for the policy booklet as it will contain more generic information about the policy.

If the policy expired I don't see how they can charge you for it after that date and I would have thought they would have had the courtesy to contact you to ask if you want to renew the policy.

I would also check through your paperwork to see if you still have anything relating to this policy.

blyth_2

Bank of Scotland have said they are going to pay me an amount which will put me back in the position I would of been had I not had a PPI with my credit card. They will contact me shorly with the amount.
The next bit I just need someones take on it. It reads;
"Where a credit card you hold with Bank of Scotland is in arrears it is our policy to offset the amount of redress we are offering against any currently outstanding balance, over and above your credit limit. Any surplus will be paid to you by cheque with in one month."
Does this mean that they will bring my credit card back to the credit limit (its over by £1500) with part of the offer and send me what is left in a cheque? Or will they just pay it all to my credit card?

melorablack

blyth wrote: »

Bank of Scotland have said they are going to pay me an amount which will put me back in the position I would of been had I not had a PPI with my credit card. They will contact me shorly with the amount.
The next bit I just need someones take on it. It reads;
"Where a credit card you hold with Bank of Scotland is in arrears it is our policy to offset the amount of redress we are offering against any currently outstanding balance, over and above your credit limit. Any surplus will be paid to you by cheque with in one month."
Does this mean that they will bring my credit card back to the credit limit (its over by £1500) with part of the offer and send me what is left in a cheque? Or will they just pay it all to my credit card?

They will use the refund to reduce or clear your arrears (so yes to get you under your credit limit). Anything left over after this has been done will be paid to you by cheque. You will get a letter confirming the amout that you will receive and any cheque due to you will be sent separately to this letter.

Well done by the way :T

di3004

blyth wrote: »

Bank of Scotland have said they are going to pay me an amount which will put me back in the position I would of been had I not had a PPI with my credit card. They will contact me shorly with the amount.
The next bit I just need someones take on it. It reads;
"Where a credit card you hold with Bank of Scotland is in arrears it is our policy to offset the amount of redress we are offering against any currently outstanding balance, over and above your credit limit. Any surplus will be paid to you by cheque with in one month."
Does this mean that they will bring my credit card back to the credit limit (its over by £1500) with part of the offer and send me what is left in a cheque? Or will they just pay it all to my credit card?

I see Melorablack has confirmed how this is done.;)

Well done Blyth, great news.
:beer::T:beer:

blyth_2

Thanks for the quick reply. You confirmed how I was reading it.
I will let you know the out come

skintmumofone

Thanks DI I really appreciate the help and support you have given over the last few months. Seem to feel we are really getting somewhere and feel more secure that I have still got a job, house etc so thinking I am getting less stressed.

Update......Black Horse sent a letter saying they do not think I was mis-sold any PPI as I had signed their Demands and Needs statement which was optional and had agreed to taking the PPI again which was optional do I go back to the FOS? They have sent their letter saying if I am still not happy to contact them?

Also received another blooming letter from WF saying my balance was £18000 and I only took a loan out for £15k with PPI of £2404 and have paid it for 2 yrs and missed 4 payments so agreed to pay an extra £60 have paid 6 months of this and they state in a call that I am meant to be payin £281 however I have my bank statementswhich show £264 has been paid since June 2007 so what the hang is going on with them?

Havent heard anything else so patiently waiting......x