PPI Reclaiming Discussion part 4

maddie12

Hi there
Was wondering if i could get some advice. I took out a personal loan with sainsburys bank in 2002. I completed an online application form, but i cant remember if i ticked for insurance protection, or it was already checked. Anyhoe i have got 9 months left to pay it off and have been reading about mis sold ppi. I checked my agreement and was horrified to see that i was charged 5117.00 on a 10.000 loan, this was added and then i was charged a further 4440 72 making a total loan of 19557.72, nearly double. I was desperate at the time so when i was told i had been accepted i agreed. At no time did anyone ever contact me to explain that the charges for the ppi where added at the start and then interest charged on the whole thing. Nor did anyone advise me that i could get pretection else where. Do you think i have a case.
Thank you

pitmen2007

tiggrae wrote: »

No they are talking rubbish - they have to provide you with the information - you have to send £10 and request all information held quoting the Data Protection Act 1998, however, if you think you have been mis sold a PPI policy you don't need the information only the account number - just make your complaint for mis selling - it will be rejected they nearly all are - then just take your complaint to the Financial Ombudsman Service

Ive posted on a previous thread explaining that the Nat West refused my request for my loan details, as the loan has now been paid off (I only took the loan out in 2008, and paid off in 2008).
I did not send off £1. Someone suggested I post off SAR and £10.
1) Do I include the initial stage 1 template with the SAR?
2) Should I just re-send off the initial stage 1 template with £1?
3) I know my account number and all the dates of the loan/payments etc, can I skip the above 2 points anyway?

Apologies for all the questions

Hope someone can help.

Tim

sweetiepieuk1981

Hi,

Hope someone can help. I signed up for a LTSB credit card about 2 years ago in the bank. The PPI insurance has always been on my statement but I was never sure what it was I just assumed it was a neccessary payment, a bit naive I know but I have never had a credit card before. I recently showed a new boyfriend my statement and he explained what I was actually paying for and that it could be cancelled. I rang LTSB immediately to cancel. The thing is I dont remember signing up for the policy and I know that if it had been explained to me in detail what it was then i would have said no as my job is very stable and if I had lost my job I would still be able to meet the minimum payments. I MAY have ticked the box (thought i dont remember doing) But I was't clear what I was ticking for. Can I claim back the ppi charges?

Any help greatly appreciated

di3004

maddie12 wrote: »

Hi there
Was wondering if i could get some advice. I took out a personal loan with sainsburys bank in 2002. I completed an online application form, but i cant remember if i ticked for insurance protection, or it was already checked. Anyhoe i have got 9 months left to pay it off and have been reading about mis sold ppi. I checked my agreement and was horrified to see that i was charged 5117.00 on a 10.000 loan, this was added and then i was charged a further 4440 72 making a total loan of 19557.72, nearly double. I was desperate at the time so when i was told i had been accepted i agreed. At no time did anyone ever contact me to explain that the charges for the ppi where added at the start and then interest charged on the whole thing. Nor did anyone advise me that i could get pretection else where. Do you think i have a case.
Thank you

Hi Maddie

In my opinion, yes you do have a case, especially as its only recently you realised you have PPI.

I would write to them to reclaim on this, but if its also worthless to you, maybe you should cancel as well, but check the terms and conds of this first before you do cancel, as every company vary from one to another with how they cancel, some will reduce your payments without the ppi, some will suggest a new loan to pay off the existing one without PPI.

Here below is the link to the reclaiming guidelines, and also template letters, use them but add your own reasons, if they are not listed then explain what you have done above and if there are any more reasons that apply to you on the list, write them as well to strengthern your case.

They have 8 weeks to respond, and if they have not resolved this, you may get another opportunity to write back to them for them to reconsider, they should let you know in the final response if your eligible to take to the Financial ombudsman service (FOS) if eligible.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Keep on at them and post all letters by recorded delivery.
Good luck.;)

di3004

pitmen2007 wrote: »

Ive posted on a previous thread explaining that the Nat West refused my request for my loan details, as the loan has now been paid off (I only took the loan out in 2008, and paid off in 2008).
I did not send off £1. Someone suggested I post off SAR and £10.
1) Do I include the initial stage 1 template with the SAR?
2) Should I just re-send off the initial stage 1 template with £1?
3) I know my account number and all the dates of the loan/payments etc, can I skip the above 2 points anyway?

Apologies for all the questions

Hope someone can help.

Tim

Hi Tim

The SAR should be sent separately and check if they have a data dept to send this to.

If you already the account number and you know you had PPI, they may even send you the agreement free of charge with the first response anyway, but if you no agreement and want to check if PPI were added, you can write separately to request this and they should supply this by 12 days.
Enclose the £1 payment by cheque or postal order payment.

And like all letters post by recorded delivery.

Please note if you did require a SAR an higher payment of £10 should be enclosed as you should receive more information as requested on the SAR.

Good luck with this and post up again for more help if needed.;)

di3004

sweetiepieuk1981 wrote: »

Hi,

Hope someone can help. I signed up for a LTSB credit card about 2 years ago in the bank. The PPI insurance has always been on my statement but I was never sure what it was I just assumed it was a neccessary payment, a bit naive I know but I have never had a credit card before. I recently showed a new boyfriend my statement and he explained what I was actually paying for and that it could be cancelled. I rang LTSB immediately to cancel. The thing is I dont remember signing up for the policy and I know that if it had been explained to me in detail what it was then i would have said no as my job is very stable and if I had lost my job I would still be able to meet the minimum payments. I MAY have ticked the box (thought i dont remember doing) But I was't clear what I was ticking for. Can I claim back the ppi charges?

Any help greatly appreciated

Hi there

I think you have a case here and yes you can try to reclaim what you have paid in PPI plus the interest etc.

For more info on reclaiming follow this guide here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

You case with Lloyds was a bit like mine, I taken it that it was all part of the agreement.

Give it your best shot, keep on at them and use the template in the link, in the final response they should give details of the Financial ombudsman service (FOS), both mine and hubbys were resolved with the FOS.

Good luck and post for help when required.;)

happyshopper

Hello

I have a friend who I am trying to persude to reclaim missold PPI on 3 credit cards from MBNA, Halifax and Barclaycard. He is concerned that the lenders might cancel his cards and call in the debts, i.e. make him pay the full amounts outstanding in a lump sum, which he wouldn't be able to do as they are quite large.

I've read the PPI guide and a number of posts but can't see that this has come up (forgive me if I've missed something). I think the worst that can happen is that his claims will be refused. But is there any danger that he'll have to suddenly repay 3 large CC debts?

Many thanks in advance for any advice (and hopefully reassurance),

HS

di3004

happyshopper wrote: »

Hello

I have a friend who I am trying to persude to reclaim missold PPI on 3 credit cards from MBNA, Halifax and Barclaycard. He is concerned that the lenders might cancel his cards and call in the debts, i.e. make him pay the full amounts outstanding in a lump sum, which he wouldn't be able to do as they are quite large.

I've read the PPI guide and a number of posts but can't see that this has come up (forgive me if I've missed something). I think the worst that can happen is that his claims will be refused. But is there any danger that he'll have to suddenly repay 3 large CC debts?

Many thanks in advance for any advice (and hopefully reassurance),

HS

Hi there HS

Tell your friend to check this site and tell him there is absolutely nothing to worry about and they will not do any of that of what he is worried about.;)

If he was mis sold, he is only trying to reclaim in his right what is his.

So tell him to go for it, we will all try to reassure him.;)

Link here below for guidelines of reclaiming:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Use the template but write his own reasons, they have 8 weeks to respond, if you hear nothing by the full 8 weeks then continue to complain to the FOS, but make sure all letters are sent by recorded delivery.

They may send a standard response and not resolved this first time, if this is the case check if they say that he can write back for them to reconsider, in the final response they should give details of the FOS.
(Financial ombudsman service).

Please tell him to check this site out, he will be fine.;)

Good luck and post for help anytime.

Niallclear2008

Hi, hope Im posting this correctly! Basically, my husband has had several loans through Lloyds Bank and with it was BLRI (Business Loan Repayment Insurance) I guess just like PPI. Anyway, after reading Martins information on PPi concerning self employment we figured we had a viable case, my husband was never asked if he worked more that the allowed 16 hours per wee, he wasnt even made aware of the fact that he had to have insurance or he had to use someone. I sent the first template letter, and keeping it short the reply was that after looking into it that we were aware as we signed the box and that a policy schedule etc was sent to us so we mst have known. Their letter only states the loan taken out in feb 2006 although we have had previous loans to this we which we wrote to them about, we still have copies of these agreements, but they have not acknowledged these. Shall I send another letter or is it just a waste of time.

If anyone can help I would really appreciate it.

di3004

Niallclear2008 wrote: »

Hi, hope Im posting this correctly! Basically, my husband has had several loans through Lloyds Bank and with it was BLRI (Business Loan Repayment Insurance) I guess just like PPI. Anyway, after reading Martins information on PPi concerning self employment we figured we had a viable case, my husband was never asked if he worked more that the allowed 16 hours per wee, he wasnt even made aware of the fact that he had to have insurance or he had to use someone. I sent the first template letter, and keeping it short the reply was that after looking into it that we were aware as we signed the box and that a policy schedule etc was sent to us so we mst have known. Their letter only states the loan taken out in feb 2006 although we have had previous loans to this we which we wrote to them about, we still have copies of these agreements, but they have not acknowledged these. Shall I send another letter or is it just a waste of time.

If anyone can help I would really appreciate it.

Hi there

Please do not give up, that response from lloyds is bog standard, so write back, tell them to reconsider or you will take matters further.

I'm sure if they do not resolve this the Financial ombudsman service (FOS) will.

So basically keep on at them until you receive the final response, in the final response letter they should give details of the FOS anyway if your not satisfied with the outcome.

Good luck.;)

Then any more you have, get on to them as well.