PPI Reclaiming Discussion part 4

maxdp

blyth wrote: »

Hi maxdp
Have you contacted Barclay card at all in those 6 weeks, either by phone or letter?

No have left them to it. They are very slow anyway in my experience. Last year in about April I won back through FOS 3 x PPI on refinanced Loans through Barclaycard Loans. They waited till the last day of the deadline and paid it into a bank account without telling anybody. I still to this day do not have the workings out. They also settled the PPI as if they were stand alone loans and not refinanced Loans. It is still now nearly a year later with FOS who are trying to make guidelines for refinanced Loans.

If they pay on time this time I shall eat my hat:mad: Anyway fingers crossed for you I think I have just been one of their more awkward clients and they probably are being awkward with me.:o

stanb

Hi,

I'm looking to claim for PPI on a secured loan, I was going to use a claims company but then came across the MSE templates, etc.

I'm wondering what the claims companies actually do? Do they just send similar templated letters and take care of the correspondence for you? Are they nothing more than Personal Assistants keeping on top of the paperwork? Would they come into their own if you had to go to the FOS?

I have no problem with a company taking 25% if they add value but I'm not sure they do. Maybe if things get complex they earn their £££'s.?
I understand that not everybody has the time/aptitude to make a claim so I guess that is where these companies make a killing.

I'd appreciate peoples thoughts. Thanks!

Natalie6999

stanb wrote: »

Hi,

I'm looking to claim for PPI on a secured loan, I was going to use a claims company but then came across the MSE templates, etc.

I'm wondering what the claims companies actually do? Do they just send similar templated letters and take care of the correspondence for you? Are they nothing more than Personal Assistants keeping on top of the paperwork? Would they come into their own if you had to go to the FOS?

I have no problem with a company taking 25% if they add value but I'm not sure they do. Maybe if things get complex they earn their £££'s.?
I understand that not everybody has the time/aptitude to make a claim so I guess that is where these companies make a killing.

I'd appreciate peoples thoughts. Thanks!

Claims companies are only useful if you have a claim that is pre GISC & FSA regulation that you can't take to FOS.

Be aware of all the small print in the agreement that you sign, never give them your bank account or card details & thoroughly check out any company that you may be interested in using as many claim to be a free service, but slide in charges for insurance etc.

If you have the time you can still do it yourself through the courts or through an independant solicitor.

di3004

Turboman wrote: »

Assuming £50 per month is just the PPI element of the monthly payment and you paid from 1/5/2004 for 60 payments

• Refund Payments = £3,000
• 8% interest up to 30/5/2009 = £632

Hi Turbo

Good to see you here, hope your well.:A

masmit

babyj9 wrote: »

Hi all, I am in need of some advice please as getting very confused. I am trying to reclaim for PPI on a loan I took out in May 2001. I purchased a car on HP at Hartwell Ford and the finance was arranged with GE Money. I completed the payments in April 2006 and shortly after began trying to reclaim my ppi - £50 per month. Initially I approached GE Money with the template letter from this site and was told that I need to take the issue up with Hartwell Ford. I contacted Hartwell who have told me that they wern't covered by the FSA at that time and so I have no claim.
Firstly, should I be pursuing Hartwell or GE Money? And in which case what should be my next move? As far as I am aware Hartwell where not covered by the FLA either??
Any advice would be much appreciated - many thanks all x

Personally i would take it to a solicitor, they will use the fact that they were not governed to make you go away.
There are companies offering a free service to claim & you can find them google.
make sure there's no upfront fees, that they use solicitors & they claim all costs off the lender. they are out there.

maxdp

stanb wrote: »

Hi,

I'm looking to claim for PPI on a secured loan, I was going to use a claims company but then came across the MSE templates, etc.

I'm wondering what the claims companies actually do? Do they just send similar templated letters and take care of the correspondence for you? Are they nothing more than Personal Assistants keeping on top of the paperwork? Would they come into their own if you had to go to the FOS?

I have no problem with a company taking 25% if they add value but I'm not sure they do. Maybe if things get complex they earn their £££'s.?
I understand that not everybody has the time/aptitude to make a claim so I guess that is where these companies make a killing.

I'd appreciate peoples thoughts. Thanks!

Hi There.

Claims companies do the work for you they take it through the FOS if needed. The only thing I would say is that FOS are very much Joe Public friendly and like things written in on their Form in our own words.

It is not time consuming to use the template. If it goes the full way you will eed to Send 1st Template then if no response 2nd template then go to FOS after filling in one of their forms. It is not time consuming to do but if it goes to FOS it can take up to 18 months. Claims companies are not going to get it through FOS any quicker. Why loose 25% of your PPI reclaim if you can easily do it yourself.

Give it some thought. It really is that simple.

stereo_mike

stanb wrote: »

Hi,

I'm looking to claim for PPI on a secured loan, I was going to use a claims company but then came across the MSE templates, etc.

I'm wondering what the claims companies actually do? Do they just send similar templated letters and take care of the correspondence for you? Are they nothing more than Personal Assistants keeping on top of the paperwork? Would they come into their own if you had to go to the FOS?

I have no problem with a company taking 25% if they add value but I'm not sure they do. Maybe if things get complex they earn their £££'s.?
I understand that not everybody has the time/aptitude to make a claim so I guess that is where these companies make a killing.

I'd appreciate peoples thoughts. Thanks!

Claims company's are of no use at all, pre-FSA or post-FSA, most of them don't understand the difference anyway. Solicitors try to use the Hurstanger case, but this only applies to a few loans, and the Solicitors don't obtain enough information prior to submitting a claim to work out if the Hurstanger case actually applies. Many claims company's get the client to do the work anyway, by making them answer pre-populated questions (which is against their code of practice), and then just put the answers into a standard letter. It is very rare (<1%) that a claim firm will actually take into consideration any of the information you have before submitting a claim. The stance thay take is, if you throw enough issues at a loan company one thing might stick.

These company's will also give up if the FOS are unable to help, as they don't have the knowledge to case the case to court.

Your best bet is too use the letters on this site, but make sure you personalise them, loan companys and brokers get loads of these each week, and complaints that have not been thought about, can be replied to by using set standard paragraphs.


_____________________________________________________________
I decline PPI complaints for a living, but sometimes I feel this site needs to be guided by people who deal with your complaints

masmit

stereo_mike wrote: »

Claims company's are of no use at all, pre-FSA or post-FSA, most of them don't understand the difference anyway.

not true if they use solicitors.

Solicitors try to use the Hurstanger case, but this only applies to a few loans, and the Solicitors don't obtain enough information prior to submitting a claim to work out if the Hurstanger case actually applies.

also not true there are a lot more issue's with CCA than just the Hurstanger case. which has been shown at chester court.The banks are on the back foot & are liable for a lot more than just the miss-seeling of PPI.
It would be very convenient for the banks if all claims went through the FOS because they will only deal with the PPI claim.

Many claims company's get the client to do the work anyway, by making them answer pre-populated questions (which is against their code of practice), and then just put the answers into a standard letter. It is very rare (<1%) that a claim firm will actually take into consideration any of the information you have before submitting a claim. The stance thay take is, if you throw enough issues at a loan company one thing might stick.

Any claim company that doe's not use solicitors stay well clear.

These company's will also give up if the FOS are unable to help, as they don't have the knowledge to case the case to court.
yes if they don't use solicitors.

Your best bet is too use the letters on this site, but make sure you personalise them, loan companys and brokers get loads of these each week, and complaints that have not been thought about, can be replied to by using set standard paragraphs.


_____________________________________________________________
I decline PPI complaints for a living,
NICE WAY OF PUTTING IT
but sometimes I feel this site needs to be guided by people who deal with your complaints

Declining is not dealing with it, lenders have abused the system for profit, they are still abusing the system with complaints, some bank's turning away over 90% of cases.
I certainly don't want to be guided by the cause of the problem.

rosemahairy

welcome finance have put in place new procedures. They now have a team actually reading the complaints before rejecting them and checking if the claims are genuine. Those who are genuine will see improvement. All new cases are going through the new procedure route which clearly is faster and better for genuine claimants. Unfortunately ours are stuck in the old route (since feb 2008) but im told we will get sorted soon. They are aiming for before Christmas to give people Yes or no after full investigation. However the 1300 cases in the queue are aiming to be reviewed before end of July although the full conclusion wont be reached until this side of Christmas.

Why oh why could'nt the FO have told us anything. They know all this but choose not to keep anyone in the picture. I have had not correspondence from the FO since last year as far as i knew my case could have been lost or eaten by a dog lol. Had i not called Welcome finance and spoke to the PPI squad i would have been sure that was what happened lol. Oh i was also told Feb 08 are some of the earliest cases but there are some older!!

Good luck all

livylegs

hiya guys,

I had a letter from the FOS today saying that FP disagrees with their findings, it is willing to make an offer in line with the FOS recommendations, save for the payment of distress and inconvience, in full and final settlement of the complaint. FP is making this offer as a gesture of goodwill without any admission of liability.:mad:

FOS saying I need to consider this offer. This offer from FP is less than redress that I indicated in my assessment and and this payment doesnt include payment for distress and inconvience:mad:

its also says...
your case could be referred for an ombudsmans final decision in which case I consider it likely that an award would be made for distress and inconvience not with standing this you may wish to consider this offer?

the compensation amount the FOS asked for was £500

so am I right in thinking that they offer is lower than the FOS asked for and they not paying compen out?

Do you think the FOS seem confident that I will get the whole lot of if I ask the FOS for final decision? I am scared they go with FP and I get nothing

Help please lol

thanks Livy.xxx