PPI Reclaiming Discussion part 4

Cutiesinger1976

Hey guys,

I have HUGE query on this PPI claim back thingymabob, ahem...I shall begin....

I got a loan from my bank (First Trust, N.Ireland) for a car loan in Oct 2006, here are the detalis:-

Cash Loan - £10,000
Loan for payment protection - £1,860.98
Total cash loan amount repayable - £11,789.80
Total payment protection repayable - £2,186.40
TOTAL REPAYABLE ALTOGETHER - £13,976.20

I then topped my loan up by £3,500 as far as I remember in Sept 2007, details:-

Cash Loan - £12,500
Loan for payment protection - £2,373.29
Total cash loan amount repayable - £14,987
Total payment protection repayable - £2,835.60
TOTAL REPAYABLE ALTOGETHER - £17,822.60

Can I claim back the amount I have been charged from Oct 2006 right up until now? I assumed I needed the payment protection as they advised me of it in the first place etc. I can't remember that far back if they said I needed it but they make you think you do don't they?

Can I claim and should I claim?

Thanks guys, all help MUCH appreciated!!!:j

Take care

Marianne

di3004

showergirl wrote: »

Hi everyone

Hope you are all having a good day.

Finally got nassie up and running and I have told her she can use the computer anytime.

I was really annoyed when she rang a and l and was told that she had not been allocated a case worker yet.( we put the phone on loud speaker so I could hear what they said).:mad:

They say they are doing them in date order and will get back to her on the 24th of July.

I told her it may have to go to the FOS. she has given me the forms to fill in for her and I got her to sign them, so they are ready.

So much for treating customers fairly. I bet they wouldn't wait this long if it was us owing them money

Your so good showergirl, do you want to do some of mine for me as well? lol......:D, only joking hun.:A;)X

Glad your getting all prepared with this and fingers crossed X

di3004

Cutiesinger1976 wrote: »

Hey guys,

I have HUGE query on this PPI claim back thingymabob, ahem...I shall begin....

I got a loan from my bank (First Trust, N.Ireland) for a car loan in Oct 2006, here are the detalis:-

Cash Loan - £10,000
Loan for payment protection - £1,860.98
Total cash loan amount repayable - £11,789.80
Total payment protection repayable - £2,186.40
TOTAL REPAYABLE ALTOGETHER - £13,976.20

I then topped my loan up by £3,500 as far as I remember in Sept 2007, details:-

Cash Loan - £12,500
Loan for payment protection - £2,373.29
Total cash loan amount repayable - £14,987
Total payment protection repayable - £2,835.60
TOTAL REPAYABLE ALTOGETHER - £17,822.60

Can I claim back the amount I have been charged from Oct 2006 right up until now? I assumed I needed the payment protection as they advised me of it in the first place etc. I can't remember that far back if they said I needed it but they make you think you do don't they?

Can I claim and should I claim?

Thanks guys, all help MUCH appreciated!!!:j

Take care

Marianne

Hi Marianne and welcome.;)

Wow, there is a nice bit of money there lol.

However, if you don't mine me asking what are your reasons for them mis selling?

When you write to them to reclaim, they have 8 weeks in full to respond, write your own reasons, and also check on the checklist on the link below to make sure you cover everything that may occur to you.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
There are also templates to help you through this, but if possible write in your own words with obviously enclosing your reasons.
Post by recorded delivery.

You do not need to add the amount to the reclaim letters, but if your successful, say for instance your loan was settled, they should repay back every penny of PPI, plus the interest, it does normally work out a little more than the amount you paid because of the interest.

For active loans, they should put you back in the position as if you did not have the PPI, your payments should be lower.
However, there are various ways these businesses deal with refunds.

For more information our Maxdp posted a thread, to show how the Financial ombudsman service (FOS) calculates refunds, hope this helps, here:
http://forums.moneysavingexpert.com/showthread.html?t=1596473

The figures will come in handy later on, if you need to refer to them, so I'm sure someone will check them through for you, good luck and please keep us posted, and ask for further help if required.;)

Di

barloo69

Cutiesinger1976 wrote: »

Hey guys,

I have HUGE query on this PPI claim back thingymabob, ahem...I shall begin....

I got a loan from my bank (First Trust, N.Ireland) for a car loan in Oct 2006, here are the detalis:-

Cash Loan - £10,000
Loan for payment protection - £1,860.98
Total cash loan amount repayable - £11,789.80
Total payment protection repayable - £2,186.40
TOTAL REPAYABLE ALTOGETHER - £13,976.20

I then topped my loan up by £3,500 as far as I remember in Sept 2007, details:-

Cash Loan - £12,500
Loan for payment protection - £2,373.29
Total cash loan amount repayable - £14,987
Total payment protection repayable - £2,835.60
TOTAL REPAYABLE ALTOGETHER - £17,822.60

Can I claim back the amount I have been charged from Oct 2006 right up until now? I assumed I needed the payment protection as they advised me of it in the first place etc. I can't remember that far back if they said I needed it but they make you think you do don't they?

Can I claim and should I claim?

Thanks guys, all help MUCH appreciated!!!:j

Take care

Marianne

In short. then YES. If you believe the PPI was missold to you (which I believe you are saying you are) then yes, definately start the process to reclaim back your money.

The templates are easy enough to do yourself.

Good luck and happy reclaiming. Keep us posted.

maxdp

barloo69 wrote: »

In short. then YES. If you believe the PPI was missold to you (which I believe you are saying you are) then yes, definately start the process to reclaim back your money.

The templates are easy enough to do yourself.

Good luck and happy reclaiming. Keep us posted.

Hi Marianne

Please make sure that when you claim this back please state that these loans are re financed loans and not stand alone policies. The reason being that the PPI that you had on the first loan would have affected the second and third loans and would mean that you had to borrow more. If it goes to the FOS they have a formulae for working this out. Good Luck

Cutiesinger1976

Hey all,

The loan I now have from Sept 2007 is still active and will be for oh about a million billion years, lol! Feels like that when you are paying them off doesnt it! lol

Anyway thing is I cannot remember that far back as 2007 when they sold me the PPI you see but I am just surmising that they forced it on me and me being in no clue as to what I should do and not knowing the ins and outs bascially I assume they will have to pay me my money back, wont they? Please say they will? lol! I've worked it out as a nice little sum.

I also have a Mint Card and Barclaycard and they both have PPI, can I claim that back too?

I also had cards from Capital One and Vanquis which I dont have anymore and these have been cleared off, the Capital one card is not active but I only closed that last year and the Vanquis one I never closed. I also had a First Trust credit card which was also cleared and closed but Im sure I had PPI on that as well? I sound like a credit card nutcase!!! lol!!!

I have a next store card which Ive had for years, I wonder.............

Thanks for all the help, this is great and I will keep you all posted. I work for a solicitor and he said to get the PPI cancelled asap and also I may as well try and reclaim and if no joy do a letter on his letterheading to see if I get any luck.

Anyway fingers crossed, more chance of this than winning the lottery, or am I wrong?? lol

Have a nice weekend folks!!!:beer:

Marianne xoxoxo

dialysis

Hi I emailed my MP again in reply to Gumbi's previous post and he today has faxed the FSCS with my email and asked them to rush my complaint up due to my impending repossession. We are due to move into our council house in a couple of weeks and cannot afford to turn it down as it is in an area that is quite good. Our worry is if we turn this down we could end up in a bad area. So it looks like it is too late for a final reprieve for us. But lets hope that the input from our MP's will maybe rush the FSCS up a bit. who knows Hope you are all well Dialysis

maxdp

Hi Dialysis. I keep my fingers crossed that this can be speeded up for you.

showergirl

Hi Dialysis,

I hope and pray this gets sorted for you.

Take care

dialysis

hi Maxdp and showergirl thanks for your support whatever you can cross cross it for us please!!:A