Are there any template letters for reclaiming PPI?

benoit

Like it says really. Are there any template letters on here for reclaiming PPI on loans? I can't find them on any of the stickies. How do you actually initiate the reclaiming of PPI anyway? What is the purpose of requesting a SAR if you already know that you are paying PPI?

di3004

benoit wrote: »

Like it says really. Are there any template letters on here for reclaiming PPI on loans? I can't find them on any of the stickies. How do you actually initiate the reclaiming of PPI anyway? What is the purpose of requesting a SAR if you already know that you are paying PPI?

Hello there

Here is the link to the guidelines of reclaiming.....
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
You can use the templates on this link if you want to or as a guide with your own words.
They have 8 weeks in full to respond.
You write to the ones who set up the loan for you, so if there was a broker used you write to them, however sometimes its arranged directly with the lender.

A SAR is useful if you no information and sometimes useful information is enclosed, its not essential, but sometimes helps if further information is required.

Hope this helps, good luck with your reclaiming and ask for help anytime.;)

benoit

Thanks for replying to me. what do you actually do once they reply to the SAR? That's the bit i don't understand. Why can't you just reclaim without having to do a SAR if you already know you are paying PPI? What i mean is i don't need all my information to find out 'if' i am paying it because i already know i am. (or the person i am reclaiming for is)

Would it not be quicker to just send a reclaim letter without doing a SAR to save time? I'm reclaiming for someone with Cancer so obviously time is not a luxury she can afford right now & if it can be done without months of to-ing & fro-ing of this letter & that letter it would make the person's life a lot easier IYSWIM?

di3004

benoit wrote: »

Thanks for replying to me. what do you actually do once they reply to the SAR? That's the bit i don't understand. Why can't you just reclaim without having to do a SAR if you already know you are paying PPI? What i mean is i don't need all my information to find out 'if' i am paying it because i already know i am. (or the person i am reclaiming for is)

Would it not be quicker to just send a reclaim letter without doing a SAR to save time? I'm reclaiming for someone with Cancer so obviously time is not a luxury she can afford right now & if it can be done without months of to-ing & fro-ing of this letter & that letter it would make the person's life a lot easier IYSWIM?

Hi there

Not a problem, just as long as you have the account number and you know you have PPI, you are correct in saying about continuing to make a reclaim without the need of a SAR.

Not everyone requests a SAR, only if other information is required.
An SAR then for example should just come back with other info such as copies of phone calls, the date the loan was taken out and settled and so on, and calculations.

Sorry to hear of your friend with Cancer, my thoughts coming your way.

So just send off the normal reclaiming letter, enclose the account number at the top of the letter, give the reasons of why you believe this was mis sold, and they have 8 weeks in full to respond, personally I would get proof of posting.

Sometimes another letter is required from them, such as if they require further information, or they may need extra time but just as long as the 8 weeks have passed, your entitled to take the complaint to the financial ombudsman service (FOS), for instance if your not happy with the outcome of the decision, or they made a low offer.

If this does go as far as the FOS, due to your friend's situation, then request for Fast track.

Hope this helps.
Wishing you luck with this.
Please keep us posted.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

benoit

Thanks for your help. For the record it's for my mum. I've read through all the sections in the link and unfortunately i don't honestly think that we would have a case in saying the PPI was mis-sold because she thought that she felt pressurised or it wasn't properly explained etc etc because she went into it with her eyes open & doesn't feel she can fairly say she was misled or anything, sadly at the time she didn't know that 6 years later she'd have Cancer and be on long term sick leave from her job with only half pay.

It's awful and i so desperately want to help her because she just doesn't need the worry of not knowing where she's going to find nearly £300 a month while she is so ill. The Bank are not yet aware of her situation & we will be speaking to them about just how unwell she is as the loan only has 6 months left anyway and i would like to think they could let her pay reduced payments when it's going to be finnished this year anyway, it's not like she has ever missed a single payment of been late.

di3004

benoit wrote: »

Thanks for your help. For the record it's for my mum. I've read through all the sections in the link and unfortunately i don't honestly think that we would have a case in saying the PPI was mis-sold because she thought that she felt pressurised or it wasn't properly explained etc etc because she went into it with her eyes open & doesn't feel she can fairly say she was misled or anything, sadly at the time she didn't know that 6 years later she'd have Cancer and be on long term sick leave from her job with only half pay.

It's awful and i so desperately want to help her because she just doesn't need the worry of not knowing where she's going to find nearly £300 a month while she is so ill. The Bank are not yet aware of her situation & we will be speaking to them about just how unwell she is as the loan only has 6 months left anyway and i would like to think they could let her pay reduced payments when it's going to be finnished this year anyway, it's not like she has ever missed a single payment of been late.

Your very welcome.
Oh that is so awful, I am so so sorry, its bad enough if its a mate, but your mum, I really feel for you. X

I would definately contact them, and find out what your mum was covered for altogether on this policy, as some do cover for many things which includes cancer, and as your mum did not have this awful thing when taking out the policy, they should to what I know of pay out on this as a normal claim, so do try to find out.

Hugs for you X

Please if you can let us know how you get on.
Thank you X