PPI Reclaiming Discussion part 4

amersall

VickieD68 wrote: »

I have been following this thread and you all sound like you know what you are talking about!
I complained to Lloyds TSB at the end of august and after a couple of 'we are still investigating your case, sorry its taking so long but feel free to go to the ombudsman' type letters I finally got a reply today.
They have rejected my first complaint about the amount I was paying and after looking at the documents I agree with them (although feeling a bit stupid!).
However I complained about the fact that for a 7 year loan I was only covered for 5 years. Their reply is all just words words words and I still don't really understand it!
They have offered £1773.07 as a good will settlement (the premium was originally £5484.51).
This money would be paid into the loan account not into my current account.
My questions are:
Should I take this offer?
Can I ask for the money to be paid into my current account or by a cheque?
Thanks

hi there, dont accept this offer , go to fos with this. if you have no arrears you should get all the refund to you, sometimes they do take it off the loan, the usual fos redress if you win is that the loan should be put back to what it was with original apr and loan term plus you get back all the ppi payments you have made to date, plus 8% interest. if you go to fos and win they will tell you what you can do about having a refund paid to you, i think if you have no arrears you should get it all back, because if your loan is reset to original you shouldnt have to pay any extra off this. good luck with this and keep us posted xx

amersall

tiggrae wrote: »

it's entirely upto you of course, but that's only 25% of the premium, I'd write back and say you want to be put back in the position you were in had you not taken out the ppi and any premiums you've paid you want paying to you direct.

Also, with the first loan - don't give up - you can always take your complaint to the financial ombudsman - even if you did sign for the ppi - did you feel pressured into doing so - were you offered alternative / cheaper cover, were you told you would be paying interest on the ppi element - if not these are all reasons to claim mis selling

ditto !! as well as what i posted, god i am too old slow for this game lol not quick enough !! you explained it better

amersall

Newkid wrote: »

I had several YSB loan through the 90s where the ppi was sold to me as compulsory & I still have their paperwork, it amounts to several thousands £ of missold ppi + interest - is is worth trying to claim this ?

I tried to claim back ppi from a loan (YSB) which was paid up in 2002 ( I do not have the paperwork for this one !!! ) & have approached YSB for the finer details but they say they " no longer hold these records as our computers only store up to 6 years. " . When I phoned they have told me that any paper records have been sent to Head Office for destruction.

Has anyone come across this with YSB , any ideas how best to proceed ?

Newkid

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A&L Success £1483
MBNA - Awaiting decision
N.Rock - Questionaire sent back
Halifax - Awaiting Reply

i had this with the yorkshire bank, you have the details so copy them and send them to the bank, put your reasons for mis sell and see what reply you get back, send yours by recorded delivery. keep us posted and good luck. dont let this drop as i won with ybs from 95

VickieD68

Thanks a huge amount for the two replies. It makes me so mad that the banks think that they can just send very wordy letters that only they understand and thats the end of the matter. Grrrrrr!

I agree with both posts and I will be sending a reply today using information in an earlier post (That I now can't find!!). The letter from LLoyds says that any significant exclusions should have been explained to me. Surely PPI on a 7 year loan that will only cover me for 5 years is significant?????? Or is it just me?!

tiggrae

amersall wrote: »

ditto !! as well as what i posted, god i am too old slow for this game lol not quick enough !! you explained it better

you're too kind !!

tiggrae

VickieD68 wrote: »

Thanks a huge amount for the two replies. It makes me so mad that the banks think that they can just send very wordy letters that only they understand and thats the end of the matter. Grrrrrr!

I agree with both posts and I will be sending a reply today using information in an earlier post (That I now can't find!!). The letter from LLoyds says that any significant exclusions should have been explained to me. Surely PPI on a 7 year loan that will only cover me for 5 years is significant?????? Or is it just me?!

that's why they write them - they hope to bamboozle and make you forget your claim and unfortunately it works !!!

soontobesensible

Hi there,
Wondered if there was a kind soul out there who would be able to help me in my fight against ge money???????
Took them to the small claims court recently and now it seems they are putting in a defence and taking it all the way. The result is that I will have to go to court and defend my claim.
Was mis-sold ppi 1999 more than 6 years ago when i borrowed an amount of first national bank (original name of ge money) for new windows. . I have all of the paper work! Most definately was mis-sold as I wasn't even aware that i had purchased ppi until I went to pay off the loan in 2003. They wouldn't let me cancel the ppi as they informed me that it was a loan and couldn't be cancelled! Finally paid it off in 2007 armed with a little knowledge from money saving expert site. Did try to take this through the fos but they weren't regulated by at the time my loan was taken out. So, decided to go through moneyclaims online. Feeling a bit scared esp as if I lose I will have to pay their costs as well!
help please someone xxxxx

tiggrae

soontobesensible wrote: »

Hi there,
Wondered if there was a kind soul out there who would be able to help me in my fight against ge money???????
Took them to the small claims court recently and now it seems they are putting in a defence and taking it all the way. The result is that I will have to go to court and defend my claim.
Was mis-sold ppi 1999 more than 6 years ago when i borrowed an amount of first national bank (original name of ge money) for new windows. . I have all of the paper work! Most definately was mis-sold as I wasn't even aware that i had purchased ppi until I went to pay off the loan in 2003. They wouldn't let me cancel the ppi as they informed me that it was a loan and couldn't be cancelled! Finally paid it off in 2007 armed with a little knowledge from money saving expert site. Did try to take this through the fos but they weren't regulated by at the time my loan was taken out. So, decided to go through moneyclaims online. Feeling a bit scared esp as if I lose I will have to pay their costs as well!
help please someone xxxxx

are they tryin to get your claim struck out on the grounds of it being time barred ???

also, under what grounds have you started the claim (ie the legal basis) and what's the amount including interest of the claim?

soontobesensible

Thanks for replying Tiggrae,
Yes they are trying to get my claim struck out. PPI started in 1999 but didn't end until 2007. Amount including interest is for 1600. My grounds are that I was mis-sold PPI I wasn't aware I had until i paid off the original loan in 2003. Kept paying PPI after loan was paid off as they refused to allow me to cancel it. Said it was a loan in itself and that I had to continue paying it. 2007 they closed it but paid £150 for the priviledge. Do you think I have a case or am I wasting my time??????
Thanks Much!!!!!

tiggrae

soontobesensible wrote: »

Thanks for replying Tiggrae,
Yes they are trying to get my claim struck out. PPI started in 1999 but didn't end until 2007. Amount including interest is for 1600. My grounds are that Iwas mis-sopld PPI I wasn't aware I had until i paid off the original loan in 2003. Kept paying PPI after loan was paid off as they refused to allow me to cancel it. Said it was a loan in itself and that I had to continue paying it. 2007 they closed it but paid £150 for the priviledge. Do you think I have a case or am I wasting my time??????
Thanks Much!!!!!

what law did you quote in your claim and have the other side put in a formal application (ie on an N244 Form?)