PPI Reclaiming Discussion part 4

hopefulshell07

Final part honestly lol

For my loan taken out in Nov 2003 I apparently did not have a PPI I had a 'one off' premium - does any one know the difference as I don't. Funny how it appears on my agreement as Optional Loan Insurance in exactly the same place and with all the same wording as my other loans which have PPI!
I did claim on this loan which isn't in dispute just the fact that they quite bluntly told me to have the loan I had to take out the insurance and not use my credit card from them again either!

But even though they say they do not find in my favour this time they will make a more 'generous pro rata rebate' as I settled this early as well. I know I may not get much if anything back on this one but it is the principle of the matter, that I was told that by their salesman and as they have agreed that I was mis sold on 3 out of 4 loans including the one after this one I don't see how they can try to wriggle out of it too!.
Any and all advice will be gratefully received and thank you for your patience.

di3004

hopefulshell07 wrote: »

For my loan taken out in Aug 2008 they have agreed the following:

That I was mis sold the PPI and they will refund all PPI payments I have paid up to date and add simple interest on of 8% and they will amend my current loan to reflect what the payments would have been had I not taken out the PPI.
This is the same remedy address that the FOS would make if I went to them according to the bank.

This is quite an easy one to work out but is the 8% correct seeing as my loans were at 14.9% twice and 11.9% and the latest one is 8.9% - does this make any difference?

Hi there

well done........:beer: and all the best with the others.

It can be confusing can it if there are a few loans involved?

I'm sure someone will be along soon to explain this in detail to you, when I try to explain I may get you more confused than ever......:eek::o:D, but normally the 8% interest is what a court would award for being deprived of your money where this is extra to that what they owe you.

There is also a link here which may give you some ideas on how refunds work, this is how the FOS calculates refunds here:
http://forums.moneysavingexpert.com/showthread.html?t=1596473

Hope you find this of some help.;)

ANY_CHANCE

hopefulshell07 wrote: »

Final part honestly lol

For my loan taken out in Nov 2003 I apparently did not have a PPI I had a 'one off' premium - does any one know the difference as I don't. Funny how it appears on my agreement as Optional Loan Insurance in exactly the same place and with all the same wording as my other loans which have PPI!
I did claim on this loan which isn't in dispute just the fact that they quite bluntly told me to have the loan I had to take out the insurance and not use my credit card from them again either!

But even though they say they do not find in my favour this time they will make a more 'generous pro rata rebate' as I settled this early as well. I know I may not get much if anything back on this one but it is the principle of the matter, that I was told that by their salesman and as they have agreed that I was mis sold on 3 out of 4 loans including the one after this one I don't see how they can try to wriggle out of it too!.
Any and all advice will be gratefully received and thank you for your patience.

Hi there

I was thinking this sounds like a single premium put at the beginning of the loan, which you should if it was missold which i bet it was, be entitled to the whole amount refunded.

ANY_CHANCE

hopefulshell07 wrote: »

For my loan taken out in Aug 2008 they have agreed the following:

That I was mis sold the PPI and they will refund all PPI payments I have paid up to date and add simple interest on of 8% and they will amend my current loan to reflect what the payments would have been had I not taken out the PPI.
This is the same remedy address that the FOS would make if I went to them according to the bank.

This is quite an easy one to work out but is the 8% correct seeing as my loans were at 14.9% twice and 11.9% and the latest one is 8.9% - does this make any difference?

If they are ammending the loan as if you had never taken out the insurance then would this refund the 14.9 and 11.9%? also the 8% is what the court would award

ANY_CHANCE

Good luck hopefulshell hope you get all your money back xx

layer_cake

I'm helping a friend claim their mis sold PPI policy with Cahoot. It's a Flexi Loan. It seems they sold these policies automatically through the website. I think the box was ticked when I applied though not absolutely sure, but whatever the case, Santander who now own them, paid up very quickly. Fair enough to them for that. In mine and my friends cases the policies are/were useless. I got £800+ back. Will keep u posted.

di3004

layer_cake wrote: »

I'm helping a friend claim their mis sold PPI policy with Cahoot. It's a Flexi Loan. It seems they sold these policies automatically through the website. I think the box was ticked when I applied though not absolutely sure, but whatever the case, Santander who now own them, paid up very quickly. Fair enough to them for that. In mine and my friends cases the policies are/were useless. I got £800+ back. Will keep u posted.

Good luck and well done for helping out a friend.:T

Fingers crossed, we look forward to hearing the outcome.;)

moneynewby

Hi All, i read through the reclaiming article and it doesnt mention whether you can write to the loan/card provider by email. I found the email:[EMAIL="Customer.Care.Insurance@Lloydstsb.com"]Customer.Care.Insurance@Lloydstsb.com[/EMAIL], on the bank's website, is it possible to complete this process by email? or more likely to succeed if there is a tangible paper trail.

Thanks everyone.

di3004

moneynewby wrote: »

Hi All, i read through the reclaiming article and it doesnt mention whether you can write to the loan/card provider by email. I found the email:[EMAIL="Customer.Care.Insurance@Lloydstsb.com"]Customer.Care.Insurance@Lloydstsb.com[/EMAIL], on the bank's website, is it possible to complete this process by email? or more likely to succeed if there is a tangible paper trail.

Thanks everyone.

Hi there

I have made a few contacts this way and have received response as well, however if you do this then send by email attachment and ask them to confirm delivery of this by email
What I did was send an hard copy through the post just in case as well, good luck and ask for help if required.;)

lindah54

Hi wondered if anyone could help, i have noticed on here some members have put into reclaim PPI on a number of loans. I have just sent off letter 1 to AWD Loans regarding PPI on a loan i took out last year. When members reclaim PPI on old loans what grounds are claimed on as i thought it had to be a valid case or is it worth just putting in a claim im very confused and un sure how this works

Any help or advice would be welcome.

Lindah