PPI Reclaiming Discussion part 4

di3004

onedayimay wrote: »

Thanks to both of you for the speedy replies! I'm still in shock I even got a response like this from firstplus when I've read so many stories of having to take it further! I might give them a ring tomorrow to discuss the agreement further! Thanks again!

Your welcome.
Good luck and hope it all goes your way.


I am not the one to work out calculations though, I am absolutely hopeless and do not want to give the wrong info on that actual matter....:o lol.

Fingers crossed for you anyway.;)X

marshallka

di3004 wrote: »

Your welcome.
Good luck and hope it all goes your way.


I am not the one to work out calculations though, I am absolutely hopeless and do not want to give the wrong info on that actual matter....:o lol.

Fingers crossed for you anyway.;)X

I cannot work them out half the time either Di and only ever say that it may be right. Some are pretty simple though especially settled earlier loans (with rule 78 calculator) but with the new regs its harder. I do know with FP though and I have not worked out any figures for the poster, just said how they actually work them out.

chellie2009

PaulinWeston wrote: »

If you're not happy with the offer they are making you then you can always ask for more. If they've offered you something it's usually because they know they are "in the wrong" and they are now negociating with you to limit their losses. In my experience (of claiming back credit card charges), it takes a letter rejecting the first offer before they pay up in full.

Make sure that you point out the interest you want has increased (because it's taken to take longer to settle) - so attach an updated calculation of charges. You could also say something like:
I hereby give you 21 days from the date of this letter to refund the charges by cheque. For the avoidance of doubt, if this is not done within 21 days, I will commence my claim in the courts without further warning. This action will inevitably involve you in paying additional costs i.e. solicitors’ fees. Please note interest will continue to accrue until the date of judgement or earlier settlement.

Hope this helps

Thank you and i will include this in my letter.:beer:

sandrai

Can some one please advise me on the following

I took a loan out with Barclaycard in May 2008 and returned the loan forms with the PPI unsigned because I did not need it. These were returned with a request to sign and sent back to them. I advised Barclays that I did not need it but the girl said it would take a couple of weeks to redo and we were heading away to China for 3 weeks holiday so did what she said sign and return it to them and send in a letter saying to cancel the PPI as I had it elsewhere and had enough cover incase of sickness etc. Well it is now 15 months later and I am still paying it. I got a letter of them this morning and they said they have now cancelled the PPI as of 19th August but they still deducted it off my account yesterday. They are saying they will refund the PPI and pay it towards my loan and cancel the loan and reissue a new loan for the amount outstanding.

Are they allowed to do this as they have not given me any settlement figures, what amount of PPI they have refunded and how much the new loan is going to cost me.

I thought they would cancel the PPI part of the payment and refund it and deduct the loan amount payments which I know what it should be.

The girl told me this morning when i asked for these figures is they will recalculate the loan plus the PPI amount and give me figures from there and issue new loan papers.

I have told her no at the moment. I asked her why I told have my loan recalculated plus say 2,500 PPI on top when I told them I did not what it . The PPi have paid so far is about £910.00 I would rather have this in my hand to spend then put it towards my loan..

thanks for any advice.

sandra

di3004

sandrai wrote: »

Can some one please advise me on the following
Hello Sandra and welcome.;)

I took a loan out with Barclaycard in May 2008 and returned the loan forms with the PPI unsigned because I did not need it. These were returned with a request to sign and sent back to them. I advised Barclays that I did not need it but the girl said it would take a couple of weeks to redo and we were heading away to China for 3 weeks holiday so did what she said sign and return it to them and send in a letter saying to cancel the PPI as I had it elsewhere and had enough cover incase of sickness etc. Well it is now 15 months later and I am still paying it. I got a letter of them this morning and they said they have now cancelled the PPI as of 19th August but they still deducted it off my account yesterday. They are saying they will refund the PPI and pay it towards my loan and cancel the loan and reissue a new loan for the amount outstanding.
That was naughty with what they done here by them returning the forms back to you so that you had to sign the PPI.
And did they not give you notice they were doing this and decided to go ahead with you actually agreeing to this method?
Even though you requested that they cancel in August!

Are they allowed to do this as they have not given me any settlement figures, what amount of PPI they have refunded and how much the new loan is going to cost me.
They should have cancelled when you asked them to do this and it would have been more decent of them to provide you with the information first.

I thought they would cancel the PPI part of the payment and refund it and deduct the loan amount payments which I know what it should be.
With active loans, it seems some do it this way, but still if your not happy with the way this was done, write to complain.

The girl told me this morning when i asked for these figures is they will recalculate the loan plus the PPI amount and give me figures from there and issue new loan papers.
So basically it will be like taking out a new loan then?
Did they also say that you will have to sign anything?

I have told her no at the moment. I asked her why I told have my loan recalculated plus say 2,500 PPI on top when I told them I did not what it . The PPi have paid so far is about £910.00 I would rather have this in my hand to spend then put it towards my loan..

thanks for any advice.

sandra

Personally Sandra I would write back and tell them your not happy with this, the way it was done.
If they are doing this as a goodwill, and as this was mis sold to you with the way they done this when you taken out the policy, this have put you our of pocket, where if you did not take this out or made to take this out from the start, you would have been paying out a lot less.
So if your not happy write back and tell them this, if they do not resolve by 8 weeks then take it to the Financial ombudsman service (FOS).
It's your money, good luck and please keep us posted.

Di

SouthBB

Another query for you Di. Since winning my claim for PPI on a Lloyds loan my son has asked me to look at PPI on his Barclaycard Card.. We sent off £10 with template letter to receive details of payments. Have just received copy statements back to 2003 !! However it is complicated as Barclaycard took over from Goldfish in October 2007 and Goldfish took over from Morgan Stanley a year or so earlier. The PPI kept going with no requesting of data from my son including a change of Insurance provider. This year in July my son was laid off his site work, and placed a request to claim. The claim forms will not support self-employed unless he signs as unemployed and notifies Inland Revenue of close of business. However just before submitting all forms a small private job comes up, not enough to support a family of wife and 2 children under 5. but enough to bar signing on and keeping self-employed status. Therefore a claim for missold PPI seemed appropriate.
Now looking at the statements prior to Barclaycard takeover and change of Insurance provider I see he did claim for a year after a huge operation on his dominant wrist in 2005. At that time he did notify IR that he could not work, and was claiming Disability income not unemployment. He took a handman job from April to August 2007 to get his wrist strong again and returned to self-employed site work in September 2007 to July 2009.
Because a claim went through on old card provider and insurance can a PPI missold claim for unemployment be made back to 2003.?? Because Barclaycard took over with new insurance provider can a PPI missold claim be made from then?? Can the element of unemployment for the period 2003 to 2007 be made with a claim for all be made from 2007 to date? Or is this all time wasting?
Your advice would help

di3004

SouthBB wrote: »

Another query for you Di. Since winning my claim for PPI on a Lloyds loan my son has asked me to look at PPI on his Barclaycard Card.. We sent off £10 with template letter to receive details of payments. Have just received copy statements back to 2003 !! However it is complicated as Barclaycard took over from Goldfish in October 2007 and Goldfish took over from Morgan Stanley a year or so earlier. The PPI kept going with no requesting of data from my son including a change of Insurance provider. This year in July my son was laid off his site work, and placed a request to claim. The claim forms will not support self-employed unless he signs as unemployed and notifies Inland Revenue of close of business. However just before submitting all forms a small private job comes up, not enough to support a family of wife and 2 children under 5. but enough to bar signing on and keeping self-employed status. Therefore a claim for missold PPI seemed appropriate.
Now looking at the statements prior to Barclaycard takeover and change of Insurance provider I see he did claim for a year after a huge operation on his dominant wrist in 2005. At that time he did notify IR that he could not work, and was claiming Disability income not unemployment. He took a handman job from April to August 2007 to get his wrist strong again and returned to self-employed site work in September 2007 to July 2009.
Because a claim went through on old card provider and insurance can a PPI missold claim for unemployment be made back to 2003.?? Because Barclaycard took over with new insurance provider can a PPI missold claim be made from then?? Can the element of unemployment for the period 2003 to 2007 be made with a claim for all be made from 2007 to date? Or is this all time wasting?
Your advice would help

Hi there.;)

Yes these can go back as far as 2003, as there are so many changeovers here, I would go back to the first broker/bank Barclays, who this was arranged with from the start, and check with the FOS to see if this should be reclaimed individually or together, just in case it is recommended by them to pursue the insurers and not the lender/broker themselves.

A tricky one with all these changes I know but it seems that your son has a good case here and I would not leave it there, give the FOS a call when you can next week, and maybe you can send them the details, they will then write to them on your son's behalf.
http://www.financial-ombudsman.org.uk/contact/index.html

Hope this helps and please keep us posted, good luck.;)

PaulinWeston

SouthBB wrote: »

This year in July my son was laid off his site work, and placed a request to claim. The claim forms will not support self-employed unless he signs as unemployed and notifies Inland Revenue of close of business. However just before submitting all forms a small private job comes up, not enough to support a family of wife and 2 children under 5. but enough to bar signing on and keeping self-employed status. Therefore a claim for missold PPI seemed appropriate.
Now looking at the statements prior to Barclaycard takeover and change of Insurance provider I see he did claim for a year after a huge operation on his dominant wrist in 2005. At that time he did notify IR that he could not work, and was claiming Disability income not unemployment. He took a handman job from April to August 2007 to get his wrist strong again and returned to self-employed site work in September 2007 to July 2009.
Because a claim went through on old card provider and insurance can a PPI missold claim for unemployment be made back to 2003.?? Because Barclaycard took over with new insurance provider can a PPI missold claim be made from then?? Can the element of unemployment for the period 2003 to 2007 be made with a claim for all be made from 2007 to date? Or is this all time wasting?
Your advice would help

I tend to follow Di's suggestion but my 'hunch' is that:

(a) If your son claimd - (and the claim was successful) - then of course you can't claim back the PPI ('cos you're claiming on it). The card may have been transferred between different providers, but the insurance agreement is supplied by an underwriter and that won't have changed..

(b) If your son claims (and the claim is unsuccessful) ask why.... And if they say that it is because he's self employed - then, according to the excellent advice & information in Martin's article: PPI Reclaiming guide http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance he may well be able (at least) to claim back the mis-sold PPI.

Hope this helps. Paul

di3004

PaulinWeston wrote: »

I tend to follow Di's suggestion but my 'hunch' is that:

(a) If your son claimd - (and the claim was successful) - then of course you can't claim back the PPI ('cos you're claiming on it). The card may have been transferred between different providers, but the insurance agreement is supplied by an underwriter and that won't have changed..

(b) If your son claims (and the claim is unsuccessful) ask why.... And if they say that it is because he's self employed - then, according to the excellent advice & information in Martin's article: PPI Reclaiming guide http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance he may well be able (at least) to claim back the mis-sold PPI.

Hope this helps. Paul

Great advice there Paul, :T:T cheers.;)

Di
X

sandrai

Hi Di,

thanks for your reply.

No they gave no notice that they were returning the forms only the original loan agreement with a post it saying please sign here and a letter head with the return address. I was not keen on sign it when I spoke to customer services but she assured me that if I signed and returned it and also sent in the letter recorded delivery with my instructions to cancel the PPI within 14 days I would not be charged for this. The cancellation letter was sent the same day as the loan agreement to Barclays head office and the ireland office who deals with the PPI. So i have been paying an extra £65.00 per month for something I asked them to cancel.

I was surprised they still took the PPI out yesterday even though they cancelled it.

The customer services rep said basically I will be treated as if i was refinancing my loan and they said they wanted me to sign a letter agreeing to this even though they have not supplied figures and these will be sent out once the new loan was in place so no idea what I will be taking out.

I told her this was not acceptable and I wanted to see figures and what they were proposing.

So looks like i might be waiting another 15 months.

I will keep you updated and thanks for your help.

sandr





I got no notice of them that they were cancelling the PPI on the 19th August but it has taken them 15 months to do it. It should have been cancelled on 29th May 2008.