PPI Reclaiming Discussion part 4

showergirl

pinknico wrote: »

I cant believe they still use these excuses for rejecting a complaint Showergirl, it makes no difference if she knew she had it or could have cancelled it, if it was mis sold it was MIS SOLD!!!!!

As I expected same crap as usual.

Nassie is a bit down but as I have told her the fight is not over yet

marshallka

showergirl wrote: »

As I expected same crap as usual.

Nassie is a bit down but as I have told her the fight is not over yet

Straight to the FOS then showergirl.

di3004

Sock_Monkey wrote: »

Hi,

I posted the following waaaaay back

Hi All,

Sorry if this is a bit long winded but I am trying to sort out mine and my OH's financial stuff and wanted to ask about PPI reclaim as there are many on here far wiser then I about these things!

My OH has a loan with Lloyds TSB which he took out in 2006 after his marriage to his ex wife. It was meant to be a joint loan but the advisor at the bank told him she was not a suitable candidate and he should take out the loan individually instead (even though the amount they needed was higher than his annual salary, but lower than their joint salaries). His wife was with him at the time and they took his advice on it and did not put her name on the agreement. He was also told that because he was now on his own as an applicant PPI would help with the application being successful.

He and his wife split in Nov 07 and he then contacted the bank to try and cancel the PPI as he was having trouble making the repayments and without his wife's name on the agreement he could not make her pay even though half the debt was hers (another rant entirely). He was told that the policy could not be cancelled at all and he had to continue as he was. This was not something he was made aware of at the initial meeting as he thought the PPI was separate to the loan - he has since discovered it was front loaded.

I have read through the PPI reclaim guide and we are putting a letter together but wanted to ask if the following is suitable to be sent as reasons for reclaiming:






This is due to the fact that I was not given the correct information when the policy was sold to me, as

• your salesperson implied that taking out the policy would assist my credit application. I had originally come to arrange a joint loan but was told that my partner was not suitable and I was advised to take the loan out as an individual. I was then advised that taking out the PPI policy would help with my application on my own.
• your salesperson was very pushy in selling me the policy so that I felt I could not say no even though I did not feel I needed the policy.

This is also due to the fact that I contacted you in December 2007and you informed me that I could not cancel the policy, something I was not aware of as it had never been explained to me. As the FSA has now stated ‘no refund’ terms are considered unfair I would like my original cancellation request to be honored.

Any thoughts on the above and suggestions on the best way forward would be much appreciated

S. monkey

Just to let you know that we received a letter yesterday saying that our complaint has been upheld and Lloyds will be settling on a 'goodwill' basis! Goodwill - yeah right, they were wrong and they know it!

The loan was front loaded so it will be re-structured so that it will be as if the PPL was never applied, we will be getting back all of our payments plus interest paid plus interest of 8% on this amount plus £200 in compensation. I am not sure exactly how much this will all be yet, but looking at the original figures we are thinking around the £3K mark!!! :T

I cannot thank everyone on this board enough for their help in making the application. We could never have done it without your advice and assistance.

So just wanted to say a huge thank you to everyone. As soon as we know the figures I will come back and post here and on the successes board! :j

Sock Monkey

This is wonderful news.:j

Well done and Congratulations.
:beer::T:beer:

di3004

showergirl wrote: »

Have pm'd Martin to ask if he can help out.

Will let you know if I get a reply

Good one Showergirl :T and fingers crossed.;)

Yes I agree it's time to move on to the FOS with Nassie's complaint, the bank have let her down badly haven't they? XX

maxdp

Well done Sock Monkey. Good Result.

Showergirl, sorry to hear about Nessie. A long wait at the FOS now. Think these firms need to pull their finger out. Had same sort of response from A and L on won I was claiming back and the FOS upheld that complaint and fined them 200.00 on top.

monkey1_2

Could anyone advise on two PPI issues please,

I bought a sofa from the dreaded DFS in Apr 2006, and believe i was mis-sold the PPI, do I write to GE money or DFS ?

Secondly, Ive had a Loans direct (LTSB) loan since 2005 which ends in august. I'm going to try and reclaim this ppi too. Could they try and close our account with them if I go down that road ?

Cheers folks

di3004

monkey1 wrote: »

Could anyone advise on two PPI issues please,

I bought a sofa from the dreaded DFS in Apr 2006, and believe i was mis-sold the PPI, do I write to GE money or DFS ?

Secondly, Ive had a Loans direct (LTSB) loan since 2005 which ends in august. I'm going to try and reclaim this ppi too. Could they try and close our account with them if I go down that road ?

Cheers folks

Hello there.;)

You write to the ones who sold you the finance, but there is no harm in sending a copy of the letter to GE as well, to cover all areas.;)

No they will not or should not close your account, your only reclaiming what is rightfully yours if the PPI have been mis sold to you, so not to worry, good luck.;)

showergirl

Hi everyone,

Have just got in and Martin has pm'd me back.

He say's it is a very difficult scenario but will have a member of his team look into it for us.

Thanks Martin

paul_gx

Could somebody I know tell me if I have a leg to stand on, I am not sure but my friends who have claimed think I have.

Basically in 2005 I was working in a call centre for a bank selling credit cards to fund my degree. I was told that as a staff member I could get a loan at the BOE base rate and thought this would be good to do before leaving so I could pay off some uni debts.

I had not done much work on loans so didn't really know what the insurance covered but took it anyway on the advice of the staff member who dealt with the loan.

I soon left the bank to begin working in full time employment but had to leave to care for a sick relative a year later. I continued to pay the loan and paid it off last month.

So can I even attempt to reclaim PPI? I worked there so I am not sure it could be construed as missold, but my friends who have experience of this seem to think I would be able to reclaim it on the amount I was charged if nothing else.

Can anyone advise please?

di3004

showergirl wrote: »

Hi everyone,

Have just got in and Martin has pm'd me back.

He say's it is a very difficult scenario but will have a member of his team look into it for us.

Thanks Martin

Brilliant, its a great start, thanks Showergirl.:T

And thanks to Martin as well.:T;)