PPI Reclaiming Discussion part 4

marshallka

amersall wrote: »

how long was the original loan over? as if you only had say 12 months left on the original loan that will be all that is left on the new one but the paper work will show the original term,(if this is a mis sell win), if this is just an offer and your loan term will be increased then i would give fos a ring and they will help you more. no credit check is done when they do the new loan they just do it without the ppi on. was this mis sell that you won or just an offer from them? if you have no arrears they should give all of it back to you (some dont though) good luck with this and if you need anymore help you will get it on here x

Yes, good point, if they are saying the loan should be taken over the remaining length of time all well and good but if the loan is been put back to the original length of time then more interest is going to be due.

jadest

I have 2 claims currently with FOS and they have been there over 18 months:

One against loans.co.uk which was upheld by adjudicator in April and went to final decessions team in July and they still are negitiating with loans.co.uk so they said today

The other with Ocean Finance which came to a sudden stop after adjudicator made decission to uphold as they are suppose to be in negotations with FOS for all there claims.

This seems like a never ending process and I feel like I am fighting a losing battle as FOS do not like to keep people informed on what is happening and all they say when you ring is we are negotiating.... Question is how long do they need to negotiate?

laalaa41

Ive been trying to get PPI back from Egg for about 18 months. The first adjudicator made me feel like I should be grateful that he was even talking to me! I asked him at one point how long he had worked for Egg. Sounded all "blonde" about it. Because he was busy telling me about Egg's rights and responsibilities. FOS seem to be protecting these banks at all costs instead of thinking of the poor people at home, like me, who only has £20 to last till next Tuesday - and mouths to feed!

I havent heard anything for 2 months and Ive added another discontented payee to the list in the last 4 weeks because I simply dont have the cash! BIG difference between the impact of their loss of profit and individuals who have nothing in the fridge!

L

jadest wrote: »

I have 2 claims currently with FOS and they have been there over 18 months:

One against loans.co.uk which was upheld by adjudicator in April and went to final decessions team in July and they still are negitiating with loans.co.uk so they said today

The other with Ocean Finance which came to a sudden stop after adjudicator made decission to uphold as they are suppose to be in negotations with FOS for all there claims.

This seems like a never ending process and I feel like I am fighting a losing battle as FOS do not like to keep people informed on what is happening and all they say when you ring is we are negotiating.... Question is how long do they need to negotiate?

jadest

laalaa41 wrote: »

Ive been trying to get PPI back from Egg for about 18 months. The first adjudicator made me feel like I should be grateful that he was even talking to me! I asked him at one point how long he had worked for Egg. Sounded all "blonde" about it. Because he was busy telling me about Egg's rights and responsibilities. FOS seem to be protecting these banks at all costs instead of thinking of the poor people at home, like me, who only has £20 to last till next Tuesday - and mouths to feed!

I havent heard anything for 2 months and Ive added another discontented payee to the list in the last 4 weeks because I simply dont have the cash! BIG difference between the impact of their loss of profit and individuals who have nothing in the fridge!

L

I am the same... no money till payday and having to borrow money from my elderly parents for milk so my son can have some cereal... the shame I feel having to ask is terrible.

And to add insult to injury we have been told today by employer that we will have to take pay cut or be out of work... the paycut will mean I get less money than my mortgage is and the insurance I took out will not cover me for that... Not having a good time at all at moment

marshallka

Jadest and Laalaa41, you are not alone where FOS are concerned. I am also getting !!!!ed off at my complaint and them not ever knowing anything. I just wish they actually knew what they were talking about sometimes.

di3004

I'm sure I read that more adjudicators have been taken on with the FOS as well, so good luck to everyone who has their complaints with them at this time and especially to the ones waiting a very long time, hope you receive some hopeful news soon.;)

An update on my hubby's, he have been told it will be a few weeks yet for the final decision by the ombudsman, he does have the email, hope he have not deleted it, may post it up later on.

scholars13

Hi I am about to send off my initial letter for claiming back PPI on my NatWest loan. This was said to be compulsory for the loan to be agreed! (a clear case of mis-selling I believe?)

Also the loan was to consolidate card debts and the staff member dealing with me only got the loan agreed because she forgot to include one of the cards debts in her figures and informed me after that if this cards debt was taken into account the loan would not have been agreed for this reason too!!!

Should I put this extra information on my initial reclaiming letter as extra proof of negligence on the banks part or is this not a good idea???

any thoughts out there please???

di3004

scholars13 wrote: »

Hi I am about to send off my initial letter for claiming back PPI on my NatWest loan. This was said to be compulsory for the loan to be agreed! (a clear case of mis-selling I believe?)

Also the loan was to consolidate card debts and the staff member dealing with me only got the loan agreed because she forgot to include one of the cards debts in her figures and informed me after that if this cards debt was taken into account the loan would not have been agreed for this reason too!!!

Should I put this extra information on my initial reclaiming letter as extra proof of negligence on the banks part or is this not a good idea???

any thoughts out there please???

Hi there

good luck with this, and I think any information you have to support your case will help, I would photocopy them and send them the copies.

Hope all goes well for you, fingers crossed.;)

mbcomper

Hi, I am fairly new at posting in the forums, so please bear with me if I have posted incorrectly or in the wrong place, any help would be greatly appreciated.

My friend currently has a Fixed Sum Loan with Natwest for what she thought was 25K. However, she has just been put at risk of redundancy and using MSE I am trying to get her finances in check before she loses her main income - (Thanks Martin :money:for such a great site)!

When I looked at the paperwork for her Natwest Loan her loan is for over 37K when you take into account the PPI and any interest charges. I told her this and she cannot believe it, the shock has made her extremely unwell. She told me that she was not aware of taking out any PPI. When I looked at the copies of the loan agreements she was given there is no x or tick in the box that says she requested PPI.

In addition to this she has severe liver problems due to alcoholism, this has been for the last 5 years to my knowledge. I have currently persuaded her to get some counselling and accompanied her to the doctor to try and get her life back on track and when she has sorted her drinking she can go back to hospital to get the latest on her liver problems.

The Natwest PPI certificate of insurance states:

What is not covered:

Accident or sickness or involuntary unemployment benefit will not be paid for any claim which is directly or indirectly related to:

Your wilful, deliberate actions, drug addiction or drug dependency or taking alcohol or drugs, except under Doctor's discretion (unless that direction relates to treatment of drug addiction or dependency)

Does the above exclusion mean that she is not covered due to her already having liver damage because of excessive drinking? As far as I am aware, she has had this condition for over 5 years.

She originally took out a loan with Natwest in 2005 and this also had PPI. She needed to refinance and take out her latest loan in Jan 2007, this too has PPI. I believe if she wasn't paying for all of this PPI, she would have paid off the original loan without having to apply for another. Plus I know she had some savings in an ISA at the time she took out the loan too.

I am unsure as to whether she can reclaim the PPI plus the interst charged or whether she should hold out as she will be made redundant within the next month and claim for 12 mmonths for being unemployed.

Can anyone help me to understand what is going on, this is making her extremely ill and I have offered to help her find out as best as I can if there is anything she can do to reduce her debts. P.S. my friend is currently 62 and her loan will be completed a month before she hits 65 in Feb 2012.

Thanks in advance! :rotfl:

nursey79

I have recently claimed some of my PPI back, as I paid off my loan early, but having looked again at everything, now feel I was missold it entirely. As I have already claimed some of it back, do I still have a case for reclaiming the whole amount?