PPI Reclaiming Discussion part 4

Kelly0405

they've cancelled my policy as of today but the fact i've been paying this for 11 years is whats annoying me!!! i've ordered god knows how many thousands of pounds worth of stuff from them!! is it worthwhile phoning kays again or am i better just going straight to the FOS or FLA and seeing if they can help me?

dialysis

Kelly0405 wrote: »

they've cancelled my policy as of today but the fact i've been paying this for 11 years is whats annoying me!!! i've ordered god knows how many thousands of pounds worth of stuff from them!! is it worthwhile phoning kays again or am i better just going straight to the FOS or FLA and seeing if they can help me?

Hi Kelly:hello: Welcome I agree with Di I would go straight to the FOS if they cant help try the FLA good luck with this and let us know what happens:D

di3004

Kelly0405 wrote: »

they've cancelled my policy as of today but the fact i've been paying this for 11 years is whats annoying me!!! i've ordered god knows how many thousands of pounds worth of stuff from them!! is it worthwhile phoning kays again or am i better just going straight to the FOS or FLA and seeing if they can help me?

Hi Kelly, thanks for your PM, and hope you received mine as well.;)

I would give it then one more try, tell them, you will appreciate that they reconsider your case, and been out of pocket for 11 years, as you assumed that you had to take out the insurance, as you were not informed otherwise.

Tell then you are disappointed as a valued customer and feel you have not been treated fairly, and you will consider seeking further advice even if the Financial ombudsman services are unable to investigate.

(They can at least consider the last 6 years, if they not willing to go back as far as 1998).

Give them about 14 days to consider.

Hope this helps, and please let us know how you get on.

Fingers crossed.;)

PS, still contact the FOS though as well, so you can be prepared X

offkeyandy

I need some advice with this possible ppi claim.
I had a first plus loan
Missed sold because self-employed.

Loan Amount £75,000
ppi £14,947.50
Total Loan £89947.50

Monthly interest 0.7930%

APR 9.9%
Number of monthly repayments 180

Monthly Payment £940.12

The loan was taken out 29/03/2004

36 payments of 940.12 were paid

The loan was paid off May 2007 to the cost of £87,322.13

I have contacted some companies about reclaiming the ppi and have been quoted 22 to 25% back end fee of a possible £20,000 to £23,000 which includes 8% interest.

I have mentioned to them about claiming this myself and the response was “I could claim the £14,947.50 but because the amount is high and I have no legal backup they would put me to the bottom of file and I would not get 8% interest”

Can I do this myself?

di3004

offkeyandy wrote: »

I need some advice with this possible ppi claim.
I had a first plus loan
Missed sold because self-employed.

Loan Amount £75,000
ppi £14,947.50
Total Loan £89947.50

Monthly interest 0.7930%

APR 9.9%
Number of monthly repayments 180

Monthly Payment £940.12

The loan was taken out 29/03/2004

36 payments of 940.12 were paid

The loan was paid off May 2007 to the cost of £87,322.13

I have contacted some companies about reclaiming the ppi and have been quoted 22 to 25% back end fee of a possible £20,000 to £23,000 which includes 8% interest.

I have mentioned to them about claiming this myself and the response was “I could claim the £14,947.50 but because the amount is high and I have no legal backup they would put me to the bottom of file and I would not get 8% interest”

Can I do this myself?

Hello and welcome.;)

Yes of course you can do this yourself, with also help from this site and free letter templates, and useful information.
You do not pay out a penny, apart from a few stamps, well worth it.

Wow you do have a lot to reclaim, so go for it with your reasons you have.
You do not need to write the figures down on the reclaiming letters though, but it's always handy to have them on hand, in case you need to refer at a later date.

For more info, templates etc, check this link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

They have 8 weeks to respond in full, keep at them until they resolve in your favour, basically until they issue you with the final response.
Pst by recorded delivery, this is your proof of posting.

The final decision should give details of the financial ombudsman service, (FOS), you should be able to take your complaint to these if your not happy with the outcome of your complaint.

If you a few loans with the same bank, you can write on the same letter, if mis sold for the same reasons, and remember to write the account numbers for all loans.

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

leanneq

Hi I'm in the process of claiming back ppi from Northern Rock. I have sent the first letter and have received a reply today asking me to fill in a questionnaire. Am i right in thinking i don't need to complete this?
I took the loan out in March 2006 and it is due to expire this coming March although i'm overpaying so hopefully sooner.

Thanks

di3004

leanneq wrote: »

Hi I'm in the process of claiming back ppi from Northern Rock. I have sent the first letter and have received a reply today asking me to fill in a questionnaire. Am i right in thinking i don't need to complete this?
I took the loan out in March 2006 and it is due to expire this coming March although i'm overpaying so hopefully sooner.

Thanks

Hi there

This is entirely up to you, if you taken the finance out in the last 6 years, they should still hold your details.
If the finance was taken out prior to 6 years, they may just require the information as they may not longer hold them, in order for them to investigate your complaint.

If again 6 years or less, you could write back and enclose the questionaire, tell them you have not completed this because you are aware that they already hold your details from when they sold you the loan, and please refer to them and your complaint letter dated XX/XX/XXXX.

They must still get back by the 8 weeks they have, many say this is a stalling tactic in regards of these questionaires.

Good luck with this either way.;)

leanneq

Thank you for the quick response - i think i will send it back with a covering letter.
Fingers crossed!!

di3004

leanneq wrote: »

Thank you for the quick response - i think i will send it back with a covering letter.
Fingers crossed!!

Your welcome.
Good luck and please keep us posted, cheers.;)

chellie2009

di3004 wrote: »

Hi there Chellie


In your case if there was a previous loan as well, I would if also mis sold the PPI try to reclaim on this, but I would also ask that they send the breakdown in details of the previous loan to see how they calculated this, such as into the new loan then.
Ask them to post them to you in writing, good luck.;)

Thanks Di..what happened then was i push thru with the loan to consolidate all my debts but do you think i can still claim something from my previous PPI even if they have given me a favor?