PPI Reclaiming Discussion part 4

amersall

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?

doesnt matter if you signed for ppi, the pure and simple fact is none of us knew what we were signing for, the companys misled all of us, now its payback you go for it and give em hell luv

di3004

amersall wrote: »

doesnt matter if you signed for ppi, the pure and simple fact is none of us knew what we were signing for, the companys misled all of us, now its payback you go for it and give em hell luv

I agree Amersall.:T:T:T:T

amersall

di3004 wrote: »

I agree Amersall.:T:T:T:T

ta di:A:A:cool:

JOSOM

mitooki wrote: »

Hi,

Sorry if these are stupid questions!

Not sure if I have a case for reclaiming, here's the details:
I took out a loan with Egg by phone of just short of £22k in June 2004 with £5.5k of PPI added on top. The loan fully repaid an existing Egg loan and some other debts. I don't recall exactly what was discussed on the phone but I remember taking away the impression that I'd be much more likely to be accepted if I took out the PPI; I think they went away to work it out before calling me back. I definately wasn't aware that insurance could be taken out from a company other that the lender.

Does this seem like a worthwhile claim?

I read that Egg have been fined for PPI but this was for Egg Card - how does this affect Egg loans?

I don't have the details of the previous paid off loan (or even whether I had PPI on it) - should I include this in my complaint?

Thanks for any help.

Hi there. I claimed back my PPI on an Egg Loan taken out in December 2006. Similar circumstances to you and it was done over the phone. Got back £2,835 which was applied to the balance of my loan which included 8% interest. Reduced my monthly payment to them by nearly £100 so I would say go for it and use the template letters using your own reasons of course:money:

marshallka

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.;)

I complained to MOJ about it and was told in an email back that they can actually ring you as it was YOU (yeah right) that must have ticked the box saying that your data can be passed on. It is annoying but these companies actually say to you its not a cold call as you gave us permission.

marshallka

Annpan79 wrote: »

Hi,

Unfortunately I dont have scanner but i have a copy of the agreement which more or less goes like this;


Amount of advance : 47,000
Optional PPI : 9,367.10
Total Loan : 56,367.10
Monthly interest rate: .869%
APR : 10.9%

No of repayments : 300

Monthly Payment : 529.31

Then there is a paragraph at the bottom for the PPI;

Payment Protection

You have opted for ppi (which is ticked yes)

All the Ts & Cs are at the back etc

My maths is hopeless and wouldnt even know where to begin working out what the total interest paid on the PPI is or even what the monthly premium for ppi alone is i'm afraid!!!

Thanks for your advice, i think i may well be claiming the full amount!

Your PPI element is 16.61% so 16.61% of the repayments are £87.91. The total cost of your PPI would have been £26,375.51 if the loan would have gone the full term. Its a lot isn't it!!!

di3004

marshallka wrote: »

I complained to MOJ about it and was told in an email back that they can actually ring you as it was YOU (yeah right) that must have ticked the box saying that your data can be passed on. It is annoying but these companies actually say to you its not a cold call as you gave us permission.

That's a thought Marshallka, I do in-fact remember seeing these small boxes and both me and hubby "never" ticked them, never have, more like they did or an excuse for a cover up, but I did not think of that one.;)

pross68

Hi folks,
Gets better every day mis-sold ppi in sept 04 (£7600) from swift advances through broker ( Lerwick) had letter to say broker ceased trading in 2006 been trading with lots of different names since checked on fsa web site and it turns out we are not covered because we took out ppi before 31st Oct 2004 dont know if its worth having another go at swift? dont want to let them get away with my money.

di3004

pross68 wrote: »

Hi folks,
Gets better every day mis-sold ppi in sept 04 (£7600) from swift advances through broker ( Lerwick) had letter to say broker ceased trading in 2006 been trading with lots of different names since checked on fsa web site and it turns out we are not covered because we took out ppi before 31st Oct 2004 dont know if its worth having another go at swift? dont want to let them get away with my money.

Hi there

If this is the case I would contact the financial compensation scheme (FSCS) to see if they are listed with them.
You would have to ring them to ask and you can also check on the web-site, sometimes its not shown though, so if you ring them and they are listed with them, they will arrange to send you a claim form.
http://www.fscs.org.uk/consumer/default_information/

If you want more info and help, let us know good luck.;)

I am from South Wales too lol X

di3004

Just checked and Swift Finance are listed.;)

Default information

Firms declared in default

You can search our database to see if the firm you are making enquiries about has already been declared in default by FSCS. This means that FSCS is satisfied that it is unable, or likely to be unable, to pay claims against it. A declaration of default opens the way for the firm's customers to make a claim for compensation to us.
Firm Name:

1. Swift Finance and Investment Limited

If a firm is included in this database, it has been declared in default by us and you should contact us if you wish to make a claim.

FSCS will declare a firm in default if:

• it has received at least one eligible claim against it, and the customer has made a financial loss;
• we are satisfied that the firm is unable, or likely to be unable, to pay claims against it. We will investigate the firm's financial position to establish this.

Overview of the default process