PPI Reclaiming Discussion part 4

di3004

Last week hubby emailed the one that dealt with his Lloyds TSB Credit Card case at the FOS, it was actually a week today, where the gent confirmed he would chase this up for hubby, this morning he received an email, here...........

Dear Mr

I have spoken to Lloyds regarding your case. I am expecting a call back today, I will contact you with an update as soon as possible.

Kind Regards

H
Casework Support Administrator - PPI Support / Financial Ombudsman Services /
Tel: 020 / Fax: 020 / South Quay Plaza, 183 Marsh Wall, London, E14 9SR

marshallka

Nathan97 wrote: »

NoI have never missed a payment on any loan that i have had with lloyds tsb or I have never been in arrears. they have not said yet that this is what they are going to do but i'm very suspicious of banks and try to always think what their next move will be. PPI for he three loans probably adds up to around £9000 + interest. Glad to hear you feel the same way as me though. do you think i ought to ring the FOS and clarify this problem with them.

Hi nathan, I would think that it will be done in the normal way and that it will be sent out as a cheque as you have never had any arrears with them. I would wait for the outcome and I sure it will be OK. The times when they redress against another loan mostly is if you have arrears with them.

di3004

Hubby just received another email and phone call from the FOS here.........

Dear Mr

I have been advised by Lloyds that a request to progress your settlement has been set up. I will be in touch with you as soon as I receive any further information.

Kind regards
H
Casework Support Administrator - PPI Support / Financial Ombudsman Services /
Tel: 020 / Fax: 020 / South Quay Plaza, 183 Marsh Wall, London, E14 9SR

Nathan97_2

marshallka wrote: »

Hi nathan, I would think that it will be done in the normal way and that it will be sent out as a cheque as you have never had any arrears with them. I would wait for the outcome and I sure it will be OK. The times when they redress against another loan mostly is if you have arrears with them.

Thanks very much for that info. You know as well as me that any positive feedback is reasurring. I'll just sit and wait for the offer and see what direction they are going in.

thanks again marshallka

Nathan97

estivez

Hi everyone,
I have come across this forum as i was searching for information if i was mis-sold loan insurance when i took my loan out just over 3 years ago. I did not realise i was a victim of this so i have not done anything yet in regards claiming back. Can anyone tell me if this is the best route to take i.e. use the template letters and start the claim or is it best for me to instruct a claimback company and let them deal with it. Obviously they charge around 25% +vat for their services but then again there is no hassle to you. Or is it that it is quite a simple process and you can do it yourself. Its just that i dont actually know what is the insurance part on my loan and what i should be claiming for. If i gave more details would anyone be able to help me please!!.

Thankyou very much in anticipation

New member

di3004

estivez wrote: »

Hi everyone,
I have come across this forum as i was searching for information if i was mis-sold loan insurance when i took my loan out just over 3 years ago. I did not realise i was a victim of this so i have not done anything yet in regards claiming back. Can anyone tell me if this is the best route to take i.e. use the template letters and start the claim or is it best for me to instruct a claimback company and let them deal with it. Obviously they charge around 25% +vat for their services but then again there is no hassle to you. Or is it that it is quite a simple process and you can do it yourself. Its just that i dont actually know what is the insurance part on my loan and what i should be claiming for. If i gave more details would anyone be able to help me please!!.

Thankyou very much in anticipation

New member

Hi and welcome.

I would certainly have a go youself with help from this site, always be wary of these claims companies as they are not always reliable and will charge you, where this way by doing this yourself you get to keep all your money, and only pay for posting your letters, where recorded posting is recommended for your proof of posting.
Whatever reasons you have then give it a go.

You write to the ones that arranged and sold you the loan, they have 8 weeks in full to respond, if they do not uphold in your favour then you should be given the opportunity to write to them again, but keep at them until they issue you with the final response, which should include details of the financial ombudsman service (FOS), a free service you can take your complaint to - to investigate if the loan business does not resolve in your favour.

You do not need to write any amounts in, if successful they should provide you with a written breakdown on the PPI etc.

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

Hope this helps, please do ask for help anytime and please also keep us posted, good luck.;)

Di

tiggrae

estivez wrote: »

Hi everyone,
I have come across this forum as i was searching for information if i was mis-sold loan insurance when i took my loan out just over 3 years ago. I did not realise i was a victim of this so i have not done anything yet in regards claiming back. Can anyone tell me if this is the best route to take i.e. use the template letters and start the claim or is it best for me to instruct a claimback company and let them deal with it. Obviously they charge around 25% +vat for their services but then again there is no hassle to you. Or is it that it is quite a simple process and you can do it yourself. Its just that i dont actually know what is the insurance part on my loan and what i should be claiming for. If i gave more details would anyone be able to help me please!!.

Thankyou very much in anticipation

New member

hi there, you've definately come to the right place if you want to reclaim the ppi yourself - you'll get loads of help on here !!

However, if for whatever reason you don't feel upto making the reclaim yourself I work for a claims company and I give a discount for anyone that may come through mse, but like I said you'll get loads of help on here !

laalaa41

An update: The ombudsman tell me that Egg had lost the form so they sent it to them again on 20th. FOS figure I should hear/get something by the end of this week. I told him I didnt know what the numbers were yet. He said that would be what Egg would be sending.

di3004

laalaa41 wrote: »

An update: The ombudsman tell me that Egg had lost the form so they sent it to them again on 20th. FOS figure I should hear/get something by the end of this week. I told him I didnt know what the numbers were yet. He said that would be what Egg would be sending.

Thanks for your update.

How annoying for you though with EGG losing the form, still lets hope for some good news very soon, good luck.;)

estivez

I took this loan out in September 2007 of £10,000.00 and these are the details on my agreement:

Amount of Credit (the cash Loan) £ 10,000.00

Amount of Credit (the insurance loan) £ 3,350.21

Total Amount of credit (the total loan) £ 13,350.21

Duration of agreement 86 months

Total amount you pay for the cash loan £ 13,533.24

Total amount you pay for the insurance of the loan £ 4,534.32

Total amount you pay for the loan £ 18,067.56

Amount of monthly payments £ 215.09
APR 8.9%

The cash price for the insurance premium is £ 3,350.21

Total charge for credit on cash loan £ 3,533.24

Total charge for credit on insurance loan £ 1,184.11



I am in the process of writing to Halifax using the Step 1 template letter but can you please tell me how much i should be getting if my claim is successful based on these figures.

A couple of months ago i rang Halifax up to see what the balance on my loan was and they said the balance is approx £9,900.00. I was completely shocked to hear this especially when they told me that their charges were paid first from my installments and then they start taking it off the loan amount. Therefore all i have been paying since September 2007 until now is their CHARGES! Is this the correct procedure that they have used?

Thanks