PPI Reclaiming Discussion part 4

Krasnoludek

shepster77 wrote: »

Sent egg an email about ten days ago and they stated that payment protection on my credit card would not be repaid and my claim not even investigated. They stated that the FOS ruled that they had been miselling from the 17th Jan 04 and my RPP started on the 2nd Jan. I wrote back to them and said they still had an obligation to investigate. Here is the latest response...



The Card Repayment Protection was applied to your Egg Card on 2nd January 2004. It's your responsibility to monitor your account regularly and let us know if there are any items that you dispute.

For this reason no premiums you've been charged for Card Repayment Protection will be refunded to your Egg Card.

If you'd like to complain further about this matter, please put this in writing and send this to the following address;

Private & Confidential
Customer Relations Office
Egg
Pride Park
Riverside Road
Derby
DE99 3GG

Thanks for your message.

Do I now write to this address and complain or should I now go to the FOS. I know I did not ask for the CRP and certainly do not need it. Any advice?

Hi

You need to write to them again, that smells of a fobbing off letter to me - I just had one of those from Nationwide, it was worded quite nastily and upset me, I came on and posted the letter and was told to go back to them, which I have done.

Seems like they are trying it on, just send them another letter and let them know your not going away !

K x

maxdp

Puddlesplasher wrote: »

Hello,

I posted on here the other day asking for advice on what my next step should be in trying to reclaim my PPI from A&L.

Just thought you might like to know that I have today had an offer from them of £2150!! I am very happy as you can probably imagine and want to thank this website and the members for all the help and information I have received.

Just wondering if anyone is able to advise me further? They have sent me a new loan agreement without the PPI on it to sign and return. However, we now want to settle the loan so I'm just wondering what the best way to go about it is. I don't want to agree to the new loan and then be penalised for paying it off straight away. Does anyone know if they will be able to calculate a settlement figure on the old loan with the PPI on?

Hi Puddlepusher

First of all well done for get your PPI back:T:T:T:T:T

Secondly I would suggest that the settlement figure is going tro be different from the figures they give you for the new loan,

I would suggest that you get both figures from them and then you will have all the information to make an informed choice.

If you do decide to continue to pay off the loan then make sure that the new loan has an interest rate that is the same or better than before. That is what they should offer you. Good Luck

Puddlesplasher

Thank you for your replies.

The new loan agreement they have sent is for the same interest rate as the original one.

I will call them on Monday and ask for a settlement figure and take it from there.

Krasnoludek

Krasnoludek wrote: »

Hi

I am waiting for two lots of PPI to be refunded :j by Halifax, I have asked them to refund it via cheque rather than clear our OD, which is slowly being paid off each month by a standing order payment.

They have agreed to do this by cheque after I phoned up and asked. What I am wondering is if there are any guidelines relating to how companies should refund the PPI, I am guessing that there are lots of people out there who have loans still active and are reclaiming the PPI and whether they are being told they have to have their refund paid back into their loan as opposed to a cheque. But seeing as it is money that they never should have paid in the first paid, or paid under incorrect circumstances, it seems wrong that the banks are able to clear "their own debts" first even though they are supposed to be refunding the customer.

I am concerned that they may pay our PPI refund into the OD account I guess, and thats not what we want, we are repaying the OD at our own pace and regularly doing it each month

Apologies if this has been done before......

Regards

K xx

Hi

I am just rather selfishly bumping my own question here

K x

marshallka

Krasnoludek wrote: »

Hi

I am waiting for two lots of PPI to be refunded :j by Halifax, I have asked them to refund it via cheque rather than clear our OD, which is slowly being paid off each month by a standing order payment.

They have agreed to do this by cheque after I phoned up and asked. What I am wondering is if there are any guidelines relating to how companies should refund the PPI, I am guessing that there are lots of people out there who have loans still active and are reclaiming the PPI and whether they are being told they have to have their refund paid back into their loan as opposed to a cheque. But seeing as it is money that they never should have paid in the first paid, or paid under incorrect circumstances, it seems wrong that the banks are able to clear "their own debts" first even though they are supposed to be refunding the customer.

I am concerned that they may pay our PPI refund into the OD account I guess, and thats not what we want, we are repaying the OD at our own pace and regularly doing it each month

Apologies if this has been done before......

Regards

K xx

Hi, lots of different views on here of this one. I have seen people that have had the redress through the FOS and had some taken from the loan outstanding (that which is due to be paid but not yet been paid) and then the amount you have actually already paid out in a cheque. If the account is in arrears then I am led to believe they can use the lot to repay against the loan outstanding. Others will give their views on this I am sure.

Boobieloobie

I'm sure other people have asked for similar help but as this thread is so long I thought i'd just ask so sorry if there is repetition - i'm a newbie!

In September 2003 my fiance took out a 7 year loan for £8k with First Direct and was sold a Personal Loan Protection Plan (PPI - i assume) which with the interest added another £2967.45.

In October 2008 after seeing a financial adviser (we have large debts) we decided to cancel the payment protection insurance to reduce the size of the monthly payments. First Direct told my fiance that they couldn't just cancel the insurance, they would have to close the loan and he would have to take out another loan, which he did. However his origanal loan should have ended in late 2010 and now the new loan doesn't end until the end of 2011. So they have added loads more interest and another year onto the loan.

The main point however is can we do anything about the PPI?

Please help - a very confused lady!!!

Krasnoludek

Thanks for your reply. I guess I can just hope that they do issue a cheque.
In my case, the loans are both settled but we still hold an account with an overdraft (overdrawn but not in arrears) with Halifax

K x

Krasnoludek

Boobieloobie wrote: »

I'm sure other people have asked for similar help but as this thread is so long I thought i'd just ask so sorry if there is repetition - i'm a newbie!

In September 2003 my fiance took out a 7 year loan for £8k with First Direct and was sold a Personal Loan Protection Plan (PPI - i assume) which with the interest added another £2967.45.

In October 2008 after seeing a financial adviser (we have large debts) we decided to cancel the payment protection insurance to reduce the size of the monthly payments. First Direct told my fiance that they couldn't just cancel the insurance, they would have to close the loan and he would have to take out another loan, which he did. However his origanal loan should have ended in late 2010 and now the new loan doesn't end until the end of 2011. So they have added loads more interest and another year onto the loan.

The main point however is can we do anything about the PPI?

Please help - a very confused lady!!!

Sounds like a case of mis selling to me, whether he has the loan or not.

I dont have my loan anymore but I have still reclaimed the PPI. I dont think it should matter whether the loan is active or not but its more helpful if it the account is less than 6 years old which I am assuming this is from the date you gave.

The template letters are on here, there is a link to it all on the "reclaims" tab and take it from there, it will help if you have the loan account numbers etc

Good luck

K

marshallka

Krasnoludek wrote: »

Thanks for your reply. I guess I can just hope that they do issue a cheque.
In my case, the loans are both settled but we still hold an account with an overdraft (overdrawn but not in arrears) with Halifax

K x

OH they cannot apply it to another account I don't think even if you are overdrawn with them. They have been known to pay it straight into a bank account though (seen it on here) if you have one but I would think it would have to be a savings account. Perhaps someone who has experienced this will post. If the overdraft is OK with them and they DID pay it into your overdrawn account then perhaps transfer it again if you need it for more important things that is.

Boobieloobie

I've had a look at the letter template but i'm not sure which paragraphs apply?!!