PPI Reclaiming Discussion part 4

amberspy

di3004 wrote: »

Hi hun
Sorry I have not got back to you earlier.

I would have another word with your CAB and ask them to help you with a letter of complaint, it is still a complaint in regards of PPI, so ask the CAB to help out a letter together, give them 8 weeks and if they do not resolve this matter for you, I would definately complain to the Financial ombudsman service (FOS).

1. Revisit CAB (as they agreed something was not right)
2. Tell them you want to complain.
3. Ask them to help put a letter together for you, and make sure they write in 8 weeks, or you will take your complaint to the Financial ombudsman service (FOS).
4. Post by recorded delivery

If you hear nothing at all by the 8 weeks, then do not wait any longer but continue to the FOS.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

I think this would be your best option here, as you have already been in touch with the CAB, give it a go hun and please keep us posted, good luck.;)

hi di
thanks for advice:beer:
well we went in CAB fri afternoon and girl we normaly see is on maternity leave and girl we saw has no idea wot do as she cant find my paper work so we tried to go throu it all again and she wasnt sure wot to doand asked us wot we like to do etc
ive go bk to tue with wot we want to do can u pls advice me wots best steps for me to write in a complain i.e ppi but we did claim 3 months of it any thous which exactly wot i can write
me hopeless
cheers:beer:

mathewuk

Hi all,
I am new to this forum and this is my first post. This is an excellent service offered free of cost. First of all I would like to thank the nice people who are helping each other.
I am in a very dreadful and different situation to others. I would be thankful if someone could read this and advice me.
With Lloyds TSB- I have 2 loans and a CC.
1st loan: Issued in 2007 Dec. It was for £18K for 7 years with 9.9% interest. I was also sold PPI of £5.7k with the same interest. I will end up paying £33k in 7 yrs for the original loan amount of £18k. The monthly payment is £400 (with £95 for PPI).
2nd loan: Issued in 2008 Oct. It was again for £18K for 7 years with 15.5% interest. I was also sold PPI of £6.2k with the same interest. I will end up paying £39k in 7 yrs for the original loan amount of £18k. The monthly payment is £460 (with £119 for PPI).
Don’t ask me why I have agreed to take with such high interest because I am not aware of PPI and interest rates in and out. Also I was told both the times I will not get the loan if I do not take up PPI. I just thought monthly payments seem to be fine and said without much knowledge.
After seeing this forum only I came to know that I was missold PPI and my hard earned money was paid for nothing (THANKS TO MARTIN). Also actually many people are in my situation and reclaiming it.
CC: I have taken my CC in 2004 and got it along with PPI by just ticking a box in the application without actually knowing what it is. I was using it since then and paying both PPI and monthly minimum payments. I realised I was paying too much of PPI per month as my outstanding balance increased and I recently cancelled it in May 2009. Can I reclaim my PPI that I paid from 2004 to May 2009. Can anyone please explain how this works?
I have never made any late payment and working REALLY hard to keep up to the minimum payments till date. I used to do 2 jobs and all my wages all going for my payments. However now I do not have my second job as it is an agency work and only have one income of £900 pm after tax. It is almost impossible for me to keep up my payments.

My questions are:

• I want to claim PPI for both my loans and also for my credit card. Is it possible? I haven’t cancelled my PPI for both my loans so far. Can I cancel it first and then claim for my already paid PPI. If so can you please suggest me how I can do it. (I have gone through the postings in this forum but not entirely sure of how to do it.)
• Also after many sleepless nights and borrowing from friends to keep up my payments to the banks I am finally thinking to go for DMP. I realised I cannot keep up my payments by looking at my income and expenditure charts. (as I have other CCs as well with an outstanding balance of £8K). So is it possible to reclaim my PPI back, and also go for DMP. If I can do so is there any time limit between these two. Please explain me in detail

Many thanks for those who read this and I look forward for your valuble suggestions and advice.
Regards,
Mat.

di3004

amberspy wrote: »

hi di
thanks for advice:beer:
well we went in CAB fri afternoon and girl we normaly see is on maternity leave and girl we saw has no idea wot do as she cant find my paper work so we tried to go throu it all again and she wasnt sure wot to doand asked us wot we like to do etc
ive go bk to tue with wot we want to do can u pls advice me wots best steps for me to write in a complain i.e ppi but we did claim 3 months of it any thous which exactly wot i can write
me hopeless
cheers:beer:

Hi hun and your welcome.;)

Start by writing that your not happy in regards of your situation of Payment Protection Insurance, and that you only made 3 successful months on a claim due to your reasons of reclaiming at that time.

Then write about the dispute and why in full details up to date, then tell them if it is now worthless to you - you no longer require the PPI, again due to your reasons and wish to request they refund you what you have paid since the last reclaim and the interest, so where you now want this cancelled as your out of pocket by still paying on this product and wish for them to put this right for you. (I take it you want it cancelled if not done already)?. To save me looking back on the posts lol.

Tell them you look forward to hearing from them by the 8 weeks they are entitled to and if they do not resolve your complaint, you will take your case to the Financial ombudsman service (FOS) to investigate this for you.

Hope this helps you.;)

They can argue that it was not mis sold because you still made a successful claim, but due to other issues you have had since, you can still complain on this product for the reasons you have.
Good luck.
And please keep us posted.

Di
X

di3004

mathewuk wrote: »

Hi all,
I am new to this forum and this is my first post. This is an excellent service offered free of cost. First of all I would like to thank the nice people who are helping each other.
I am in a very dreadful and different situation to others. I would be thankful if someone could read this and advice me.
With Lloyds TSB- I have 2 loans and a CC.
1st loan: Issued in 2007 Dec. It was for £18K for 7 years with 9.9% interest. I was also sold PPI of £5.7k with the same interest. I will end up paying £33k in 7 yrs for the original loan amount of £18k. The monthly payment is £400 (with £95 for PPI).
2nd loan: Issued in 2008 Oct. It was again for £18K for 7 years with 15.5% interest. I was also sold PPI of £6.2k with the same interest. I will end up paying £39k in 7 yrs for the original loan amount of £18k. The monthly payment is £460 (with £119 for PPI).
Don’t ask me why I have agreed to take with such high interest because I am not aware of PPI and interest rates in and out. Also I was told both the times I will not get the loan if I do not take up PPI. I just thought monthly payments seem to be fine and said without much knowledge.
After seeing this forum only I came to know that I was missold PPI and my hard earned money was paid for nothing (THANKS TO MARTIN). Also actually many people are in my situation and reclaiming it.
CC: I have taken my CC in 2004 and got it along with PPI by just ticking a box in the application without actually knowing what it is. I was using it since then and paying both PPI and monthly minimum payments. I realised I was paying too much of PPI per month as my outstanding balance increased and I recently cancelled it in May 2009. Can I reclaim my PPI that I paid from 2004 to May 2009. Can anyone please explain how this works?
I have never made any late payment and working REALLY hard to keep up to the minimum payments till date. I used to do 2 jobs and all my wages all going for my payments. However now I do not have my second job as it is an agency work and only have one income of £900 pm after tax. It is almost impossible for me to keep up my payments.


My questions are:

• I want to claim PPI for both my loans and also for my credit card. Is it possible? I haven’t cancelled my PPI for both my loans so far. Can I cancel it first and then claim for my already paid PPI. If so can you please suggest me how I can do it. (I have gone through the postings in this forum but not entirely sure of how to do it.)
• Also after many sleepless nights and borrowing from friends to keep up my payments to the banks I am finally thinking to go for DMP. I realised I cannot keep up my payments by looking at my income and expenditure charts. (as I have other CCs as well with an outstanding balance of £8K). So is it possible to reclaim my PPI back, and also go for DMP. If I can do so is there any time limit between these two. Please explain me in detail

Many thanks for those who read this and I look forward for your valuble suggestions and advice.
Regards,
Mat.

Hi Mat and welcome.

If mis sold for any reasons then there is no harm in trying to reclaim, with my experience of Lloyds tsb they are not the easiest to deal with but you need to keep on at them until they resolve this for you or until they issue you with a final response which should enclose details of the financial ombudsman service (FOS), you can take your complaint to these if your not happy with the outcome of your complaint.
They have 8 weeks in full to respond and post all letters by recorded delivery.

If there are complaints on 2 of the loans with the same company, write down the account numbers of the 2 on the same complaint letters, especially if you have the same reasons for both on the mis selling, otherwise split the complaints.

You can still try reclaiming on the Credit Card ppi as well, now this one I would write in a separate letter.

If its worthless to you then cancel them at the same time as complaining, tell them your reasons as well.

Yes if you do do to DMP you can still try to reclaim on the PPI, if your struggling, this is the best direction to take, so well done to you there.:T
You wil find more info on the debtwannabe thread above for help on DMP.

And in regards of ppi reclaiming, more info here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
You will find a checklist of mis selling reasons and letter templates, use them as a guide if you want to and obviously write in your own reasons.

Good luck and please keep us posted and ask for further help if required.
Cheers.;)

Only just to say as well, you do not need to write the figures on the reclaim letters at this point, you want to reclaim all the PPI you have paid and the interest, also the extra 8% interest of what a court would award.

amberspy

di3004 wrote: »

Hi hun and your welcome.;)

Start by writing that your not happy in regards of your situation of Payment Protection Insurance, and that you only made 3 successful months on a claim due to your reasons of reclaiming at that time.

Then write about the dispute and why in full details up to date, then tell them if it is now worthless to you - you no longer require the PPI, again due to your reasons and wish to request they refund you what you have paid since the last reclaim and the interest, so where you now want this cancelled as your out of pocket by still paying on this product and wish for them to put this right for you. (I take it you want it cancelled if not done already)?. To save me looking back on the posts lol.

Tell them you look forward to hearing from them by the 8 weeks they are entitled to and if they do not resolve your complaint, you will take your case to the Financial ombudsman service (FOS) to investigate this for you.

Hope this helps you.;)

They can argue that it was not mis sold because you still made a successful claim, but due to other issues you have had since, you can still complain on this product for the reasons you have.
Good luck.
And please keep us posted.

Di
X

hi di
thanks ur a star;)
i just get writing to them ,but one wee probem i got is since we been in dispute the payments have stop can i still write same letter as above? and do i send to head office etc
cheers

di3004

amberspy wrote: »

hi di
thanks ur a star;)
i just get writing to them ,but one wee probem i got is since we been in dispute the payments have stop can i still write same letter as above? and do i send to head office etc
cheers

With pleasure.;)
Yes that should be okay, because you still have ppi to try to reclaim back and the interest before it was stopped.
If you don't try you will never know.:D;)

If they have a complaints dept write to them or otherwise the head office, they should pass on to the correct dept for you anyway.
Remember though to post by recorded delivery, this is your proof of posting.
Fingers crossed for you.:beer:

Di
X

di3004

Found this in the Money news today:

MOJ shuts claims management firms:

http://money.aol.co.uk/moj-shuts-claims-management-firms/article/20090808170328135551692

amberspy

di3004 wrote: »

With pleasure.;)
Yes that should be okay, because you still have ppi to try to reclaim back and the interest before it was stopped.
If you don't try you will never know.:D;)

If they have a complaints dept write to them or otherwise the head office, they should pass on to the correct dept for you anyway.
Remember though to post by recorded delivery, this is your proof of posting.
Fingers crossed for you.:beer:

Di
X

hi again thanks for that :j
was talking to hubby he wanted me to ask u something:rolleyes:
he wanted to no if he took out loan over 6 year ago and loan was paid off in full ,he had ppi but never claimed is it to late to claim for that? if not how to we get copy of records as we no longer have them im afraid:o
cheers:beer:

mathewuk

Hi di3004

Thank you very much fo your reply. You are so nice to many other people like me. Great. I am feeling a bit reassured now. Glad to find this forum.However I would like to confirm a few more things before I actually proceed. My questions are:


1. When I am digging out all my agreements for the loans I have seen a leaflet from the bank which says that I will get 74% back if I cancel my PPI after 12 repayments and 62% back after 18 repayments and so on. Does this mean that if I go to the bank and ask for PPI cancellation will they give me the money back as mentioned above or is there anything hidden in this? I am not sure of the difference between this and if I reclaim by writing letters. Can you please explain.


2. Can I write PPI reclaim letters next week and also start DMP at the same time? If I do so is there any possibility that the lenders will not agree for my DMP. OR give myself 8 weeks to sort out reclaim and then go for DMP. I am not sure where to start. Can you please give a detailed explanation.


3. Also for the PPI reclaim to which address I need to post the letter-- is it to the local branch where my loan is held or it is to the head office.

Looking forward for your advice.

Many thanks,
Mat.

amberspy

amberspy wrote: »

hi again thanks for that :j
was talking to hubby he wanted me to ask u something:rolleyes:
he wanted to no if he took out loan over 4 year ago and loan was paid off in full ,he had ppi but never claimed is it to late to claim for that? if not how to we get copy of records as we no longer have them im afraid:o
cheers:beer:[/QUOT