Do my loans still need to be active to reclaim PPI??

bethg2009

Hiya all!!
Just a quickie can you let me know if I can try to reclaim PPI even though the loans are now settled??
I have previously successfully reclaimed however at the time that particular loan was still being paid.
If I can any help on where to start would be brilliant.

Thanks in anticipation

di3004

bethg2009 wrote: »

Hiya all!!
Just a quickie can you let me know if I can try to reclaim PPI even though the loans are now settled??
I have previously successfully reclaimed however at the time that particular loan was still being paid.
If I can any help on where to start would be brilliant.

Thanks in anticipation

Hi there
And yes you can, so go for it.
It makes no difference if settled or active.
Good luck and let us know if you require any help.:beer:

bethg2009

Thanks Di!!!
So where do I start????
The last claim was a nightmare, I just rang them to cancel my PPI and they told me they couldn't do it unless they took out a new loan and repaid the old one off with the new without PPI on, of course I didn't want to do this due to another credit search showing, so after weeks and weeks of complaining and threatening to go to FSA they eventually repaid 500 and odd quid which was really only a fraction of what I'd already paid. I had no official guidance or any forms just my own letters, so any help would be fab!!

bethg2009

Any ideas anyone I'd be really grateful

gerryscot

bethg2009 wrote: »

Any ideas anyone I'd be really grateful

Hi Bethg2009

Have you got some help?

di3004

bethg2009 wrote: »

Thanks Di!!!
So where do I start????
The last claim was a nightmare, I just rang them to cancel my PPI and they told me they couldn't do it unless they took out a new loan and repaid the old one off with the new without PPI on, of course I didn't want to do this due to another credit search showing, so after weeks and weeks of complaining and threatening to go to FSA they eventually repaid 500 and odd quid which was really only a fraction of what I'd already paid. I had no official guidance or any forms just my own letters, so any help would be fab!!

Hi there
Sorry for the delay in getting back to you.

Here you will find some useful info, with the guidelines of reclaiming the PPI, with template letters, and a checklist of mis selling reasons.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Check this out, and if any of the reason in the checklist apply to you, write them in your letter as well.
You can use the template letters if you want to or as a guide, they have 8 weeks to respond in full.
Post by recorded delivery, this is your proof of posting.

Good luck with this, yell for further help on this if required and please keep us posted.:beer:

finatra26

Hi Beth - I have noticed a few posts like yours lately - if you write a letter asking to cancel ppi on a loan that is still running the bank are right to tell you you need to refinance it & can charge you whatever interest rate they like on this - only if you persue misold PPi route & win will they then need to restructure the loan at the current or better(as if!) rate
I wouldn't advise anyone to cancel ppi on an exisiting loan if they beleive they have a good shot at winning their missold complaint - and if you do win the bank need to arrange the restructure.
Hopefully your other claims will be easier though as they are already finished.
This cancelling advice doesn't apply to cc's though as it makes no difference to these

Bostonboy

bethg2009 wrote: »

Thanks Di!!!
So where do I start????
The last claim was a nightmare, I just rang them to cancel my PPI and they told me they couldn't do it unless they took out a new loan and repaid the old one off with the new without PPI on, of course I didn't want to do this due to another credit search showing, so after weeks and weeks of complaining and threatening to go to FSA they eventually repaid 500 and odd quid which was really only a fraction of what I'd already paid. I had no official guidance or any forms just my own letters, so any help would be fab!!

Hi
As you know, sometimes it's simply not enough to use the template letters which can result in getting fobbed off by the banks.
I can recommend a company who will deal with this for you on a no win no fee basis. They don't charge any up-front fees either like many other companies do. I'm not sure if I can post their details on here but I can't recommend them highly enough. They have just reclaimed £14,006 for one client!!!!!!

Please PM me if you want their details.

Regards
Peter

bethg2009

Cheers for your replies all, gonna get started tonight when OH gets in ooooohhh, I'm excited now, I love a good battle with these people lol!!!

finatra26

Hi Beth - This is only my personal opinion but..............I would avoid using reclaim companies at all costs. You will get all the help & support you need from the lovely people on this site & keep all the money to yourself

bethg2009

finatra26 wrote: »

Hi Beth - This is only my personal opinion but..............I would avoid using reclaim companies at all costs. You will get all the help & support you need from the lovely people on this site & keep all the money to yourself

Was thinking the same finatra, plus the same post been copied and pasted onto different posts!!

Spam, spam, spam, spam!!!!:rolleyes: