PPI Reclaiming Discussion part 4

da666shooker

Hi There

A while ago I posted on here that I was claiming my ppi back from RBS & HSBC, so i just wanted to provide you with an update.

RBS, have agreed to pay me the full amount of £126, however they state this is a good will gesture! However HSBC, have responded that they do not agree with my complaint and they will not be progressing it any further. (seeing as I tried to cancel this twice almost two years ago, and that they told me i could only do so if i was to reapply for finance then the PPI would not be added on! I am slightly frustrated!). so I have made a complaiont to the Financial Ombudsman. i will keep you updated

maxdp

Hi da666shooker.

Thanks for update. Glad you have taken it to FOS. Get ready for long wait though. I would also just send them a note saying that you have taken it to the FOS. Good luck to you

di3004

John_Hurley wrote: »

My wife has got a claim, against Yorkshire Bank, for misselling of PPI for a visa card. She has only claimed for £3,700, going back to 2002, even thought the card was taken out long before then.

They have now written to her, to advise that, as the original agreement was dated September 1993, her claim is statute barred. I have referred the matter to the FOS, but wonder is there any particular arguments I should be putting to them, in respect of limitation?

Hi there

Going by many posts on here, many have still been successful reclaiming from the 90's, so keep at them.
Good luck.;)

paulthedude34

Hi all
can you plz advise my wife has just called tsb to cancel her insurance on her loan after been told when taking the loan out in nov 2008 that she needed to have ppi with loan after just speaking to tsb to cancel the insurance on the loan the tsb adviser has told my wife that she has to settle up with the insurance and take out a new loan without paying the ppi on the new loan is this correct and does my wife have a case of being misold the ppi thanks paul

di3004

paulthedude34 wrote: »

Hi all
can you plz advise my wife has just called tsb to cancel her insurance on her loan after been told when taking the loan out in nov 2008 that she needed to have ppi with loan after just speaking to tsb to cancel the insurance on the loan the tsb adviser has told my wife that she has to settle up with the insurance and take out a new loan without paying the ppi on the new loan is this correct and does my wife have a case of being misold the ppi thanks paul

Hi there Paul

Unfortunately this seems to be how Lloyds do this on cancelling, as the cooling period have passed, annoying isn't it, and yet they make out you must have the PPI, I can understand your's and your wife's frustration on this, and it should have been optional.
However, if your wife does cancel, she can still try try to reclaim on the PPI, make sure the rate is that of the same of the existing one or better.

For more on reclaiming with letter templates, a checklist of reasons and so on here below.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Post by recorded delivery for your proof of posting and please just yell for help if required, good luck.;)

gerryscot

Di

Is it ok to PM you to send you some contact details?

di3004

gerryscot wrote: »

Di

Is it ok to PM you to send you some contact details?

Yes please do.;)

k.fairy

Hello

My mum had taken out a barclays loan in 2002 and was also sold PPI which she did not know about. Recently she recived a statement for her loan and I noticed she also has PPI. She has been strugling to pay the monthly installments for her loan as since last year she has become disabled.

When the PPI was sold to her she was unemplyed. I filled out a claim form a few weeks ago, claiming on the insurence, However I reciveed a phone call today from the insurance company saying they can only pay from 2006-7 (12months) of the insurance, even though she has been paying for it since 2002. They said because she was unemployed when taking out the PPI. They also told me that her PPI plan term was for 7 years which ended last week!!!

All in all the insurance can only pay for 12 months because the terms and conds changed. Im so confussed with it.

What can I do?

please help?

di3004

k.fairy wrote: »

Hello

My mum had taken out a barclays loan in 2002 and was also sold PPI which she did not know about. Recently she recived a statement for her loan and I noticed she also has PPI. She has been strugling to pay the monthly installments for her loan as since last year she has become disabled.

When the PPI was sold to her she was unemplyed. I filled out a claim form a few weeks ago, claiming on the insurence, However I reciveed a phone call today from the insurance company saying they can only pay from 2006-7 (12months) of the insurance, even though she has been paying for it since 2002. They said because she was unemployed when taking out the PPI. They also told me that her PPI plan term was for 7 years which ended last week!!!

All in all the insurance can only pay for 12 months because the terms and conds changed. Im so confussed with it.

What can I do?

please help?

Hello and welcome.

That is a load of tosh what they have told you, and funny how they should ring and not put this into writing.

Write back hun and tell them your mum is not standing for this, and they can go back at least 6 years, even more in some cases.
Tell them you know your rights and if they do not resolve this by refunding all the PPI and the interest then you will take this to the financial ombudsman service to investigate, and tell them you want all correspondence in writing.
Give them 14 days to get back to you.
Post by recorded delivery.

This should all go in your mum's favour, keep at them.;)

di3004

K.Fairy

An example letter of what I would write.

Obviously the address of both your mum's and the bank's.

Date

Account number XXXXXXX


Dear Sir/Madam

Thank you for our telephone conversation that taken place on Tuesday 24 November 2009.

This is in regards of a policy that was mis sold to me (mum) when this was taken on on XX/XX/XXXX (or the year would be okay).

You investigated my complaint, then you rang me as stated above, you have confirmed that your only able to refund me as from 2006 to 2007.
I taken out this policy in 2002 and understand I have every right to request for a refund for all what I have paid in Payment Protection Insurance (PPI), the interest, also the 8% interest of what a court would award.

As explained in my letter sent to you dated XX/XX/XXXX, that I would not have been fully protected by the policy, I was unemployed and I am also disabled, in this case I would not be successful in making a such a claim.

I am now asking you to reconsider your decision, which is not agreed with and I will not accept the refund for just the 12 months, where you mis sold the policy from when this was taken out in 2002, it is in my right that I an entitled to this refund.
The policy was worthless to me, and I have been deprived of my money.

I expect to hear from you by 14 days from the date of this letter.

If I do not hear from you or you have not changed the decision in my favour, I will take this complaint to the Financial Ombudsman Service (FOS) to investigate, with evidence I have to support my case.

Yours sincerely


Name