PPI Reclaiming Discussion part 4

marshallka

nursey79 wrote: »

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?

I would say this is better asked on the loans board perhaps as there are lots of posts like this.

Good luck

jimsta

jimsta wrote: »

Hello all,
Just got my letter back from FOS but doesn't tell me how much A&L willing to pay back, on the letter goes like this,
Following our involvement, Alliance & Leicester has now told us that it will agree to settle your complaint, Whilst not agreeing that your policy was mis-sold. Alliance & Leicester is prepared to offer you a full refund of the PPI premium plus any associated interest, along with interest at 8% simple on any overpayments you have made up until the date the settlement is calculated. please note this offer is on a good will basis.
All i have to do is sign it and return but just want to make sure as there aren't any sums in this letter and what i will be getting back.
Thankyou in advance.
Jimsta.

This was posted by me on the 04-07-2009 but i still haven't had a reply of anybody, just wanted to know should i chase up the FOS by phone or E-mail, or is there something i have missed and all this PPI reclaiming has hit a snag and everything is on hold.
Just been on the FOS site and does say if the Business ( A & L ) has accepted the refund takes up to 1-3 months so should i just be patience.
Thanks for your time reading this and thanks for everybodys help so far.

twinny_2

hi thanks forgeting back to me

WISHY

Why are carers not entiled to ppl ive been paying a loan since 2004 i applied to them last week andthey said no because im not trying for work because im a carer i finish paying my loan on october can any one please explain why thanks

di3004

WISHY wrote: »

Why are carers not entiled to ppl ive been paying a loan since 2004 i applied to them last week andthey said no because im not trying for work because im a carer i finish paying my loan on october can any one please explain why thanks

Hello and welcome.;)

How annoying this is for you.

If you still have the details of the terms and conds of the policy details, check through them.

Some do protect for carers, yet they vary.

Due to this though I would definately try to reclaim on this.

Do you mind posting who the bank is? cheers.

For more info on reclaiming check the link below, you will find a checklist of mis selling reasons, some of them may also occur to you as well, and templates also, please post for help if required, good luck.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

di3004

mbcomper wrote: »

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:

Hi and welcome.;)

Blimey that is shocking isn't it?:eek:, very costly indeed.

I think personally that your mate has a case here, and would try to reclaim on this, for more info check this link here as well:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

If your friend wants to reclaim and requires help, please do ask, we will do our best to help where we can.
But please check the above link first, its the guidelines of reclaiming, with useful info and templates.

Good luck.;)

starxtrouble

Got a holding acknowledgment letter from Egg this morning confirming they had rec'd my complaint and I'd hear within 8 weeks. Time to wait then

marshallka

di3004 wrote: »

Hi and welcome.;)

Blimey that is shocking isn't it?:eek:, very costly indeed.

I think personally that your mate has a case here, and would try to reclaim on this, for more info check this link here as well:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

If your friend wants to reclaim and requires help, please do ask, we will do our best to help where we can.
But please check the above link first, its the guidelines of reclaiming, with useful info and templates.

Good luck.;)

I have not answered this one here as i was a little stuck to answer. In the post it says



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.

Would hate for this to cause more problems but glad you have stepped in.

cardiomike

if that is a 'gesture of good will' from a bank -i'd go for the ombudsman and what you deserve-( its like an insurance company offer for a written off car- theyll get away with the minimum they think they can-)I did and this week my bank is paying £3600 instead of the £600 first offer they made!
mike

di3004 wrote: »

Hi there
Was that the first or final response?

If its the first one, write back to them and ask them to reconsider your complaint.
Have they given a leaflet in regards to the Financial ombudsman service yet?

If so I would complain to them, get a form filled in, you can do this by downloading or ringing the FOS to request one through the post, and enclose copies of correspondence with your form, also send a copy to the finance company and tell them you have now moved on to the FOS in order for them to investigate this for you and you enclose a copy of the complaint form for their records.

(sometimes this can help, if they do decide to uphold your complaint while this is being dealt with by the FOS, then just let the FOS know).

However, again, if this was only the first response, you can write to them again and ask them to reconsider your complaint.

Good luck and please keep us posted.;)

cardiomike

the ombudsman's rules would make them put you in the financial position you'd have been in if you hadnt taken out the loan ppi- so ensure any offer cost you no more than the original term/rate of interest.
go to the ombudsman if unhappy- it is free!!
mike

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