PPI Reclaiming Discussion part 4

tiggrae

DanDaniel wrote: »

Marshalka & tiggrae its Dan again , this is where i complicate things sorry when i phoned up welcome to cancel after a few weeks they said they would give me 2371.22 back off the loan (original ppi cost £3272.51) like i said before the rebate on my statement ADDED 2371.22 to my balance and then they took it off again leaving my balance as it was before. She did say on the phone that they would adjust my interest to account for this. before this rebate thing i was paying £340.16 interest and then £ £339.87 the month after and so on, but after they did this adjustment that made no difference my interest payments went down to £295.10 then the month after £293.98. my interest on the loan agreement was 24.60% but now on my statement appears to be 22.20%. So does this mean that they are repaying me that amount over the period of the loan by reducing my interest ?? im confused ?? i will still ask for the difference between what they supposedly gave me back and what i was charged £3272.51 - £2371.22. They refused to let me pay less than £355 i was paying a month and said that this would just mean the loan would finish sooner. Any ideas ???? x

to be honest with you Dan I wouldn't even mentioned this in your letter, just say you asked for it all to be removed - you didn't want it and you don't believe they have taken it all off and that you have been paying for a policy which you had cancelled within the required 30 days

wait to see what they come back with !!

maria_and_the_imps

hey im after a bit of help, i got a barclay loan a few years back and i think i payed it up 4 years ago, i was thinking of trying to claim back the ppi but i dont know the account number how would i go about finding out what it was so i could try to claim back the ppi,
thanks
maria

marshallka

maria_and_the_imps wrote: »

hey im after a bit of help, i got a barclay loan a few years back and i think i payed it up 4 years ago, i was thinking of trying to claim back the ppi but i dont know the account number how would i go about finding out what it was so i could try to claim back the ppi,
thanks
maria

You could always try giving them a ring and see what they say. SOme have been lucky. You can then request the agreement in writing from them or you can request all the information they hold on you by way of a Subject Access request.

http://forums.moneysavingexpert.com/showthread.html?t=1475553

The SAR costs you £10 though and they can take up to 40 days to supply it.

Some would say you are entitled to this under the CCA in section 77/78 and they have 12 days to comply by which time if they have not they are breaking the law BUT as your account is settled (nothing owing on it) then they are obliged not to send it so its entirely up to you..

I would send all correspondence by recorded delivery though.

plshelpme_2

Hi everyone,

I wrote to Monument 3 weeks ago, and they replied back with two letters simultaneously. First letter was an acknowledgement that they received my complaint about misselling of PPI and they told me that they investigate said complaint and will give response until sept 23. Today, I received another letter..

1. They told me that Payment Break Plan is not Payment protection Insurancr and therefore is not subject to the Insurance Conduct Of Business (ICOB) rules.
2. Explained the terms and conditions of Payment Break Plan...
3. Reviewed and confirmed that I had paid £674.25 in my account for this Payment Break Plan.
4. But as a gesture of goodwill, they are willing to refund the amount of £337.38, which is half of the charges, and with no admission of liability.
5. Lastly, if I am prepared to accept this, I am to confirm in writing and that the said amount will be applied in my account, or, if my account was closed, they will issue a cheque in my name.

The amount is acceptable to me, but I want to pursue to refund the remaining amount.

My situation: I AM CURRENTLY IN IVA SINCE 2008. AND MONUMENT IS ONE OF THE ACCOUNTS IN IVA.
Question : CAN I REQUEST TO GET THE CHEQUE THAT THEY ARE OFFERING IN MY NAME? OR IS IT POSSIBLE FOR THEM TO APPLY IT IN MY MONUMENT ACCOUNT? I AM PAYING WEEKLY FOR MY IVA AND MY ACCOUNT WITH ALL MY CARDS ARE IN "DEFAULT" STATUS I THINK.

Please enlighten me and please help me please.

Thanks.

marshallka

plshelpme wrote: »

Hi everyone,

I wrote to Monument 3 weeks ago, and they replied back with two letters simultaneously. First letter was an acknowledgement that they received my complaint about misselling of PPI and they told me that they investigate said complaint and will give response until sept 23. Today, I received another letter..

1. They told me that Payment Break Plan is not Payment protection Insurancr and therefore is not subject to the Insurance Conduct Of Business (ICOB) rules.
2. Explained the terms and conditions of Payment Break Plan...
3. Reviewed and confirmed that I had paid £674.25 in my account for this Payment Break Plan.
4. But as a gesture of goodwill, they are willing to refund the amount of £337.38, which is half of the charges, and with no admission of liability.
5. Lastly, if I am prepared to accept this, I am to confirm in writing and that the said amount will be applied in my account, or, if my account was closed, they will issue a cheque in my name.

The amount is acceptable to me, but I want to pursue to refund the remaining amount.

My situation: I AM CURRENTLY IN IVA SINCE 2008. AND MONUMENT IS ONE OF THE ACCOUNTS IN IVA.
Question : CAN I REQUEST TO GET THE CHEQUE THAT THEY ARE OFFERING IN MY NAME? OR IS IT POSSIBLE FOR THEM TO APPLY IT IN MY MONUMENT ACCOUNT? I AM PAYING WEEKLY FOR MY IVA AND MY ACCOUNT WITH ALL MY CARDS ARE IN "DEFAULT" STATUS I THINK.

Please enlighten me and please help me please.

Thanks.

As you are on an IVA then i would think that this money would have to be paid towards the IVA perhaps. I know little of situations like this but from what I have read on IVA's that is how it is done. I think you would probably be best posting as well on the debt free forum and probably the loans forum too as there will be someone i am sure who knows more than me.

Well done on getting something back though. :T

DanDaniel

When we first took out our mortgage 3 years ago we were given the hard sell with mortgage protection. We had to pay 3 months up front amounting to £700 plus further monthly payments of around £235. Could there be a case for me to try and recover this high price we payed, didnt want it but basically told to have it.

Thanks all ( not sure if you can claim against mortgage protection )

marshallka

DanDaniel wrote: »

When we first took out our mortgage 3 years ago we were given the hard sell with mortgage protection. We had to pay 3 months up front amounting to £700 plus further monthly payments of around £235. Could there be a case for me to try and recover this high price we payed, didnt want it but basically told to have it.

Thanks all ( not sure if you can claim against mortgage protection )

Yes you can claim if missold but only "usually" for single premiums. I will bump this for you for dunstonh who is our mortgage PPI expert and knows all the ins and outs. You would need to tell us though why you think it was missold to you and then dunstonh can usually tell you if you have a good case.;)

DanDaniel

Thanks, just really because we were not informed that we would have to pay 3 months up front and that not only did the advisor at halifax push it hard but the bank manager even came in to our meeting and pushed the fact that we needed to take it. Just a pressurised sale at the same time as taking out the mortgage

marshallka

DanDaniel wrote: »

Thanks, just really because we were not informed that we would have to pay 3 months up front and that not only did the advisor at halifax push it hard but the bank manager even came in to our meeting and pushed the fact that we needed to take it. Just a pressurised sale at the same time as taking out the mortgage

I have pm'd dunstonh and hopefully it will get seen later or tomorrow but dunstonh is best answering these one.

dunstonh

Got the PM..

When we first took out our mortgage 3 years ago we were given the hard sell with mortgage protection. We had to pay 3 months up front amounting to £700 plus further monthly payments of around £235. Could there be a case for me to try and recover this high price we payed, didnt want it but basically told to have it.

A few things here to be aware of.

Being sold to and agreeing to buy is not a mis-sale. Most bank sales reps are heavy on the sales front but that is why they are called sales reps. You could have said no. If you felt pressured and agreed for that reason you could have cancelled within the cancellation rights period when you were sent the notice to cancel. You can of course complain that the sales were pressurised but it will be your word against theirs and doing this 3 years on would appear opportunistic and try-it-on. If you were unhappy it wouldnt take you three years to complain.

You need to clarify what you paid up front. The banks MPPI plans are monthly premium. They do not have single premium offerings and you do not pay 3 months in advance for cover. They start when the mortgage starts and they are paid by monthly direct debit. They are effectively pay as you go.

Also, the premium seems very high. The highest one on my books is just over £70 and thats for £2500 a month cover. Now we know the banks are expensive but £235 for MPPI seems far too expensive even for them.

Are you perhaps getting some figures mixed up. Maybe the monthly figures are a combination of things or the upfront figure was a arrangement fee for the mortgage or even a high value loan fee or similar?