PPI Reclaiming Discussion part 4

marshallka

The FSA are proposing bigger fines for companies

http://www.insurancetimes.co.uk/story.asp?storycode=379301

I was only thinking today that we have not seen anyone of the big companies fined for ages. Seems it cannot come soon enough. They just have no fear at the moment.

busbyh

:rolleyes:Just returned from hols to hear Picture are in 'Default' at long last.:beer: My daughter has spoken to them and they say they are now in the position to process claims. I think she is about 252 on the list. Now we just have to win!!. this is going to be a nervous wait. Am I correct in saying claims have to be completed within 6 months from date of default. What is the general feeling on winning this one on the single premium.
busbyh
xxx

pinknico

Hello busbyh, the FSCS are saying claims could take up to 6 months but I believe some of these will be quicker.
Really have no idea what the criteria for a claim is but seeing as the FOS is finding 99% single premium claims in customers favour I have some hope the FSCS will see this the same way.
Heres hoping and Good Luck .I wonder who will be the first success? xxx

busbyh

pinknico wrote: »

Hello busbyh, the FSCS are saying claims could take up to 6 months but I believe some of these will be quicker.
Really have no idea what the criteria for a claim is but seeing as the FOS is finding 99% single premium claims in customers favour I have some hope the FSCS will see this the same way.
Heres hoping and Good Luck .I wonder who will be the first success? xxx

Thanks pinknico, lets hope they do see it the same, and good luck to dialysis - this could have been any one of us!!
xxx

donz81

Hi there

I wonder if anyone can help me.

I recently received my credit card statements from Egg and on this there were a few entries for 'card protection'.

Having written away to Egg asking them to refund this as i felt i was mis-sold blah blah, they replied and said 'actually you dont have ppi on your contract'.

Please can someone give me their opinion - is Card Protection the same as CPPI? and if so, why have they responded in this way? Am i being silly??

Thank you in anticipation

Donz

di3004

donz81 wrote: »

Hi there

I wonder if anyone can help me.

I recently received my credit card statements from Egg and on this there were a few entries for 'card protection'.

Having written away to Egg asking them to refund this as i felt i was mis-sold blah blah, they replied and said 'actually you dont have ppi on your contract'.

Please can someone give me their opinion - is Card Protection the same as CPPI? and if so, why have they responded in this way? Am i being silly??

Thank you in anticipation

Donz

Hin Donz.;)

I would try to check out the policy for this in case of any confusion, if that protection you do have is for card theft etc, this I think it different to a clam for sickness and unemployment etc, so if you can check them out, if this does however involve sickness/unemployment, then yes it would be the same as PPI.

Hope you come to the bottom of this, check on their website if you do not have the policy details on hand, this may explain a little more, please keep us posted, cheers.

barloo69

shooby1 wrote: »

here goes could someone please look at these figures and take an estimate how much we are looking to get if we are successful with the fos i havnt got a clue how to work it out as the loans were rescheduled and i dont know what should happen thank you.

ORIGINAL LOAN TAKEN OCT 2005 FOR £25,OOO OVER 84 MONTHS AT 7.3%

PLUS THEY ADDED £6655 PPI WITH INTEREST AT 7.04% IS £8530.60

WE PAID THIS FOR A 12 MONTH PERIOD AT £377.82 PER MONTH ON LOAN
AND £100.58 OFF THE PPI

THEN WE RESHEDULED (OMG LOOKING AT THIS I FEEL STUPID BUT WE WERE DESPERATE)

IN OCT 06 WE HAD TO RESCHEDULE AND THEY NEEDED £23,9OO TO PAY THE OTHER LOAN WHICH GAVE US £1000 CASH AND THAT TOPPED THE LOAN BACK UP TO £24900,

OVER 84 MONTHS AGAIN BUT NOW AT 8.3%

THEY NOW ADDED £6830 FOR PPI AT A RATE OF 7.97% INTEREST TOTALLING £9772.73 (OMG I AM LOOKING AT THIS AND FEELING SOOO STUPID)

WE PAY THIS BACK AT £387.72 PER MONTH ON LOAN
AND £106.36 PER MONTH PPI AND HAVE BEEN DOING SINCE OCT 06 TILL PRESENT DATE

TOTAL COST OF THIS LOAN IS £41,502.72

IF ANYONE CAN DO ANY CALCULATIONS WITH THESE FIGURES I WOULD REALLY APPRECIATE IT:D

Hi, by my calculations £4864.44 by way of a cheque to you for all PPI paid to date incl 8% interest.

The o/s loan will then be recalculated to a position as if you never took out the PPI at all when you took the loan, unfortunately its not as easy as just deducting the PPI payment from your loan payment but it gives you an indication. Also from looking at below link again, you may even get a compensation amount for the distress and inconvenience caused.

Hope this helps.

www.financial-ombudsman.org.uk/publications/technical_notes/ppi/redress.html

marshallka

Well todays the day that I am getting my call about my complaint against the insurer and to see whether its something that FOS says I can make. I am still finding it hard to understand as to why "unfair rebate" is NOT a complaint that you can win with. Its annoying as it was FOS that guided me to this in Sept/October last year and then they say "sorry, you cannot make that complaint???" or at least "you can but you will not win"... Its then taken them from September to July to tell me this. I just hope I get my call from them. I know that unfair rebates are complaints though although there is no ruling as to what is fair but surely they cannot say that being charged over 4K at settlement for an insurance policy no longer of use is fair. The least they should do is offer a pro rata rebate of 78% i thought.

Just hope I am posting later with a smile or its all been for nothing.

showergirl

marshallka wrote: »

Well todays the day that I am getting my call about my complaint against the insurer and to see whether its something that FOS says I can make. I am still finding it hard to understand as to why "unfair rebate" is NOT a complaint that you can win with. Its annoying as it was FOS that guided me to this in Sept/October last year and then they say "sorry, you cannot make that complaint???" or at least "you can but you will not win"... Its then taken them from September to July to tell me this. I just hope I get my call from them. I know that unfair rebates are complaints though although there is no ruling as to what is fair but surely they cannot say that being charged over 4K at settlement for an insurance policy no longer of use is fair.

Just hope I am posting later with a smile or its all been for nothing.

Good luck Marshallka. I hope you get somewhere with this one

Natalie6999

marshallka wrote: »

Well todays the day that I am getting my call about my complaint against the insurer and to see whether its something that FOS says I can make. I am still finding it hard to understand as to why "unfair rebate" is NOT a complaint that you can win with. Its annoying as it was FOS that guided me to this in Sept/October last year and then they say "sorry, you cannot make that complaint???" or at least "you can but you will not win"... Its then taken them from September to July to tell me this. I just hope I get my call from them. I know that unfair rebates are complaints though although there is no ruling as to what is fair but surely they cannot say that being charged over 4K at settlement for an insurance policy no longer of use is fair. The least they should do is offer a pro rata rebate of 78% i thought.

Just hope I am posting later with a smile or its all been for nothing.

Let's hope that they throw the book at them, if not can't you complain about the way your case has been dealt with by FOS?