PPI Reclaiming Discussion part 4

di3004

Kerz67 wrote: »

hi all, looking for a little help. purchased my 1st car in jan 2004 from arnold clark, i signed up to ppi but it was with "MMS", can i still reclaim this? i have been paying £9.98 per month until jan 2009, i never used it and even paid it for a year after i sold the car! if i can claim do i claim from them or arnold clark? thanks in advance

Hi there

Yes if this was mis sold and worthless to you then give it a go.

You write to the ones who arranged and sold you the finance, and below is the link to the guidelines of reclaiming, templates etc and a checklist of mis selling reasons and so on.
Post by recorded delivery for your proof of posting and they have 8 weeks in full to respond.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck with this, ask for help anytime and please keep us posted.

You do not need to write the figures/amounts down on the letter.;)

tiggrae

Kerz67 wrote: »

hi all, looking for a little help. purchased my 1st car in jan 2004 from arnold clark, i signed up to ppi but it was with "MMS", can i still reclaim this? i have been paying £9.98 per month until jan 2009, i never used it and even paid it for a year after i sold the car! if i can claim do i claim from them or arnold clark? thanks in advance

you reclaim it from whoever sold you the policy (ie the car dealership)

Kerz67

di3004 wrote: »

Hi there

Yes if this was mis sold and worthless to you then give it a go.

You write to the ones who arranged and sold you the finance, and below is the link to the guidelines of reclaiming, templates etc and a checklist of mis selling reasons and so on.
Post by recorded delivery for your proof of posting and they have 8 weeks in full to respond.

Good luck with this, ask for help anytime and please keep us posted.

You do not need to write the figures/amounts down on the letter.;)

thanks very much for your help! so do i write to arnold clark head office then? my finance was with fiat financial and ppi with mms but arnold clark arranged it all im confused lol. thanks again

di3004

Kerz67 wrote: »

thanks very much for your help! so do i write to arnold clark head office then? my finance was with fiat financial and ppi with mms but arnold clark arranged it all im confused lol. thanks again

Your very welcome.

I would then write to Arnold Clark.;)

Good luck with this please keep us posted and ask for help anytime as well.;)

garyUK_2

robbedofmymoney wrote: »

i will igve this a go, but need to know what your total monthly payments and interest rates were for the loans,
cheers

Thanks robbedofmymoney
loan 1 - 281.85 per month
loan 2 - 304.83 per month

interest approx 7% on both loans.

tiggrae wrote: »

no I don't think you've calculated it correctly - you need to work out how many monthly premiums you actually paid on both loans to work out how much you actually paid minus the rebates, then you can work out the 8% against each premium paid

I don't understand this. Surely no matter what, I paid £2000 in ppi, and 410 was returned as rebates when I settled. Surely, this means I should get the difference 1590 returned (without even going in to all the interest)?

I mean loan 1 was for 8,000 plus the 1050 ppi, so total loan was 9050. I don't think it makes any difference when it was settled, the money i paid for ppi will be returned, minus the rebate, plus interest?

robbedofmymoney

i will get back with some numbers by the morning, but don't hold me to them.

i will go through the calcs and see what come out.

cheers

Kerz67

di3004 wrote: »

Your very welcome.

I would then write to Arnold Clark.;)

Good luck with this please keep us posted and ask for help anytime as well.;)

thanks again i will keep this updated

garyUK_2

robbedofmymoney wrote: »

i will get back with some numbers by the morning, but don't hold me to them.

i will go through the calcs and see what come out.

cheers

Many thanks I really appreciate that :beer:

I should also say the letter did say that they will put me back in the same position i would have been in, if i hadn't taken out the ppi. They say they are doing exactly the same as what fos would do.

wutus

Hi All
Today I received an offer from Barcaycard after about 8 weeks and no FOS which is a result however because I am in arrears with them they say they want to just take it off the outstanding balance, does anyone know if they may consider paying me half direct and half of the balance as my financial situation is yet again in dire straits and afterall I wouldnt owe them so much if it were not for them adding on ppi in the first place,
Any advice would be gratefully received before I accept their offer please and thanks!!!
wutus ( second ppi result, I am getting there)

di3004

wutus wrote: »

Hi All
Today I received an offer from Barcaycard after about 8 weeks and no FOS which is a result however because I am in arrears with them they say they want to just take it off the outstanding balance, does anyone know if they may consider paying me half direct and half of the balance as my financial situation is yet again in dire straits and afterall I wouldnt owe them so much if it were not for them adding on ppi in the first place,
Any advice would be gratefully received before I accept their offer please and thanks!!!
wutus ( second ppi result, I am getting there)

Hi Wutus, hope your well.

Well done on your success.:beer:

In regards of arrears, they do tend to pay towards these and anything remaining of the refund, you can request they send this to you by a cheque.
I would write and ask if they can do this for you, good luck, please keep us posted.;)