help with ppi claim with directline (now RBS)

thugusher

hi folks,

i am about to embark on a PPI claim with DLFS on loan i took out in 2004 for £13k. made 3 payments of £305 before falling to financial difficulty and defaulted on payments and unfortunately i was made redundant in early 2005 to make matters worst (got into an IVA). DLFS actually put a charge of £22k on my house. and i was forced to pay this in 2008 as part of a remortgage (£20k f&f settlement). i didn't have a copy of the CCA but believe ppi fee was added to the loan.

Sent out a Subject access request in feb and last week finally received a very bad photocopy of my agreement form and just as you guessed dlfs added PPI to the loan i took out. so i want to start my ppi claim.

i may need some help calculating how much i am owed by them.

here are the figures:
Loan- £13k
loan payment protection premium- £3740
total amount of loan- £16740
total charge for credit (interest)- £5282
total amount i had to pay £22022
APR- 10%
monthly instalments- £305 x 72mths (over 6yrs)

agreement started 07/07/04


can someone pls advise what steps i need to take (e.g letter templates e.t.c) to start my claim.

di3004

thugusher wrote: »

hi folks,

i am about to embark on a PPI claim with DLFS on loan i took out in 2004 for £13k. made 3 payments of £305 before falling to financial difficulty and defaulted on payments and unfortunately i was made redundant in early 2005 to make matters worst (got into an IVA). DLFS actually put a charge of £22k on my house. and i was forced to pay this in 2008 as part of a remortgage (£20k f&f settlement). i didn't have a copy of the CCA but believe ppi fee was added to the loan.

Sent out a Subject access request in feb and last week finally received a very bad photocopy of my agreement form and just as you guessed dlfs added PPI to the loan i took out. so i want to start my ppi claim.

i may need some help calculating how much i am owed by them.

here are the figures:
Loan- £13k
loan payment protection premium- £3740
total amount of loan- £16740
total charge for credit (interest)- £5282
total amount i had to pay £22022
APR- 10%
monthly instalments- £305 x 72mths (over 6yrs)

agreement started 07/07/04


can someone pls advise what steps i need to take (e.g letter templates e.t.c) to start my claim.

Hi there

What you do now, instead of template letters to reclaim, the Financial ombudsman service (FOS) have recently issued questionnaires, you complete for every complaint you have and keep copies in case you need to refer to them later on.
So you basically send them on to who set up your loans from the start.
They have 8 weeks to respond in full.
Post within the post office for proof of posting.

These questionnaires cover all grounds in reclaiming for PPI, so a letter is no longer required, unless you want to do your own cover letter, to enclose with the forms that is up to you.
You will find these questionnaires further down the page "stage one" of the link below:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Hope this helps, good luck, keep at them and please keep us posted, cheers.:)

thugusher

thanks, sent off my claim letter.. wating to see what happens

di3004

thugusher wrote: »

thanks, sent off my claim letter.. wating to see what happens

Your welcome and good luck, please let us know how you get on, cheers.;)

thugusher

di3004 wrote: »

Your welcome and good luck, please let us know how you get on, cheers.;)

hi directline have refused my ppi claim saying it was optional to me.. can i appeal to fos about this?

di3004

thugusher wrote: »

hi directline have refused my ppi claim saying it was optional to me.. can i appeal to fos about this?

Hiya yes, did they confirm it was the final decision and enclose details of the fos?

If so then complain to the fos.....
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

If not then write to ask them to reconsider and give them any further information you may have.

Good luck.:)

marshallka

thugusher wrote: »

hi folks,

i am about to embark on a PPI claim with DLFS on loan i took out in 2004 for £13k. made 3 payments of £305 before falling to financial difficulty and defaulted on payments and unfortunately i was made redundant in early 2005 to make matters worst (got into an IVA). DLFS actually put a charge of £22k on my house. and i was forced to pay this in 2008 as part of a remortgage (£20k f&f settlement). i didn't have a copy of the CCA but believe ppi fee was added to the loan.

Sent out a Subject access request in feb and last week finally received a very bad photocopy of my agreement form and just as you guessed dlfs added PPI to the loan i took out. so i want to start my ppi claim.

i may need some help calculating how much i am owed by them.

here are the figures:
Loan- £13k
loan payment protection premium- £3740
total amount of loan- £16740
total charge for credit (interest)- £5282
total amount i had to pay £22022
APR- 10%
monthly instalments- £305 x 72mths (over 6yrs)

agreement started 07/07/04


can someone pls advise what steps i need to take (e.g letter templates e.t.c) to start my claim.

Hi, just to add that if you still owed any money to them they are allowed to use it to reduce the debt. Any money left over is paid over to you.

thugusher

yes this was their final decision