PPI Reclaiming Discussion part 4

di3004

A claims company just rang and offered to help in regards of reclaiming.......so hubby spoken up and said that I do this myself lol, and to shut them up that our cases have been all done and dusted.

I was reading an article somewhere the other day about claims companies, they should not ring to approach you, so I have taken down the telephone details to report to TPS.;)

SavySaver_2

I am doing two claims for ppi for my mum who had 2 clydesdale bank loans.

Loan 1 - Take out 2001 finished 2008. Total PPi plus interest = £5452.

Loan 2 - Taken out 2007 and still being repaid. Total PPI = £4939

Going by Martin's advice and reading all the forums she has definately been mis sold.

Sent the first letter in about 2 weeks ago and they sent out a PPI questionaire. Just waiting on a repsone from that.

Q. Is loan 1 too old to recliam?

Q. Would the PPi for loan 2 be paid to the loan account to reduce the balance or would they refund her separately for the ppi?

di3004

SavySaver wrote: »

I am doing two claims for ppi for my mum who had 2 clydesdale bank loans.

Loan 1 - Take out 2001 finished 2008. Total PPi plus interest = £5452.

Loan 2 - Taken out 2007 and still being repaid. Total PPI = £4939

Going by Martin's advice and reading all the forums she has definately been mis sold.

Sent the first letter in about 2 weeks ago and they sent out a PPI questionaire. Just waiting on a repsone from that.

Q. Is loan 1 too old to recliam?

Q. Would the PPi for loan 2 be paid to the loan account to reduce the balance or would they refund her separately for the ppi?

Hello there

Good luck with these, and I would still try for the older loan, so go for it.

All companies vary in regards to how they calculate the refunds, either by paying this direct to you or if there are any arrears as such or missed payments, they normally apply the refund to that and the remainder sent by cheque, but like I said this can vary.

There is a thread on here posted by Maxdp in how the FOS would calculate, this should give you some ideas.;)
http://forums.moneysavingexpert.com/showthread.html?t=1596473

In regards of the questionaire, not everyone completes them, for instance if this was taken out 5-6 years ago they should still hold the details, but its entirely your choice as they must still investigate by the 8 weeks they are entitled to.
However, maybe they just required the details they did not still have to continue, good luck though.;)

amersall

di3004 wrote: »

A claims company just rang and offered to help in regards of reclaiming.......so hubby spoken up and said that I do this myself lol, and to shut them up that our cases have been all done and dusted.

I was reading an article somewhere the other day about claims companies, they should not ring to approach you, so I have taken down the telephone details to report to TPS.;)

hi di hows you and family? i am sick of claims companys ringing as well, and i have had the same company three times, i have told them i have done it myself and will they put in the computer i have no need for the service they offer, they say ok were sorry to bother you, but its happened again!!!! i am so angry i could spit lol

SavySaver_2

Thanks Di. She is very doubtfull she will get anythin hehe poor thing but I think she has really good chance. She has never missed any payments on them I dont even know why she took out the PPi!!
The questionaire was very simple. Repating a lot of the info on the first letter I sent.
Some other questions were-
Describe how the advisor sold the loan.
Why do you think it has been mis sold?
What paperwork did you receieve? etc etc

When she took the loan out the advisor called her on he rmobile at work to tell her she was approved and just to pop in and sign the paperwork. She was just told it included ppu and the box was ticked for it.
As she has signed for it she might not get it back?

marshallka

reille wrote: »

I wonder if anyone can help me.

I recently made a complaint to First Plus as I believed that the PPI policy was mis sold on 2 loans. Not surprisingly they declined saying they had listened to the sales calls and did not believe the policies were mis sold. All the figures they mentioned were wrong so I wrote back again. They then returned with an offer to refund 78% of the premiums on both loans. One of the loans was paid off in 2007.

My question is that I did write back saying I wasn't happy with the offer and requested 8% interest on the loan which had been paid off but I would accept their offer. I'm still not happy am I too late to go to the FOS. I did not say I would accept the offer without prejudice but did say I was unhappy.

Have you actually had the 78% (pro rata) refund from them yet? From what i can remember of this when FIrstplus have offered this to others it is 78% of the premium but without the interest you have paid on this PPI. FOS always looks at the whole amount of the PPI you have paid INCLUDING the interest.

If you have accepted this then maybe you could write to the Ombudsman and tell them that you did not actually know this would be 78% of the PPI amount without interest and also that you were not paid 8% statutory interest at the time either. (if in fact they did not pay you this). Its always worth a try with the FOS as they know just how Firstplus work. Did they try to make out that you were getting back 78% of the whole amount (with interest) perhaps?

Annpan79

amersall wrote: »

if you go mis sell and you win the ppi is taken off your loan, so you get back ppi you have paid to date plus 8% the ppi original amount is taken off your loan (less the 10,000 you are claiming back), what was your original ppi amount and what was the monthly payment on that? as you will get the payments you have made on this plus 8% only for the 5 years you are up to, does this make sense to you?

ahhh yes that makes sense....

The original PPI ammount was £9367. Unfortunately, though, I do not know what the monthly payments on this are. The total monthly payments (for the whole loan) are 536 but I don't have a clue what percentage of this is for the PPI.

:-(

amersall

Annpan79 wrote: »

ahhh yes that makes sense....

The original PPI ammount was £9367. Unfortunately, though, I do not know what the monthly payments on this are. The total monthly payments (for the whole loan) are 536 but I don't have a clue what percentage of this is for the PPI.

:-(

hi ann glad you understood, you know how hard it is when you are typing something and you are trying to make it make sense but you keep looking at it and think no thats not right? lol thats how i was

di3004

amersall wrote: »

hi di hows you and family? i am sick of claims companys ringing as well, and i have had the same company three times, i have told them i have done it myself and will they put in the computer i have no need for the service they offer, they say ok were sorry to bother you, but its happened again!!!! i am so angry i could spit lol

Hi Amersall, how are you?:A

Not too bad thank you.;)

These companies are a right paid in the you know what :mad:, hubby said the guy said, "we can fight for more than PPI" lol, hubby said, "its ALL done and dusted, we done this ourselves - well my wife did" lol..:D

Some do not leave numbers, just witheld, but on the ones that do I now take a note of the numbers.;)

Not expecting it to end there though, we bound to get more calls....

di3004

SavySaver wrote: »

Thanks Di. She is very doubtfull she will get anythin hehe poor thing but I think she has really good chance. She has never missed any payments on them I dont even know why she took out the PPi!!
The questionaire was very simple. Repating a lot of the info on the first letter I sent.
Some other questions were-
Describe how the advisor sold the loan.
Why do you think it has been mis sold?
What paperwork did you receieve? etc etc

When she took the loan out the advisor called her on he rmobile at work to tell her she was approved and just to pop in and sign the paperwork. She was just told it included ppu and the box was ticked for it.
As she has signed for it she might not get it back?

Straight forward questions then?;)

Do not worry if she signed the paperwork, it was probably a generated one and besides she has her reasons. Good luck.