Barclays, Lombard Direct + Tesco PPI

marcusarelius

thanks for the replies - will check tomorrows post and if nothing get back onto them

marcusarelius

Well got a letter back from Tesco and they completely misunderstood the complaint - thought i was complaining about not offering the PPI whilst redundant last year. Well that was one element but the other was about the sale of it as it wasnt explained that even after cancelling the PPI i would still be paying interest on it as its added as front end sum. Got to send a new letter into the PPI complaints team for them (guess this would have been the best idea in the first place as i originally complained by phone and they have ignored my comments about the missell)

Just wondering how long tesco loans are allowed before replying - is it 8 or 16 weeks for them? And is it a different response time if i send the letter after 31st August?

amersall

marcusarelius wrote: »

Hope someone can recommend the best route on this?
Hi there.
I have a Tesco Loan (car loan) taken out in 2008 which when clearing out some financial documents i found out it had PPI included. I dont recall asking for this but it does tell me the payments on the information they sent out back in June 2008. Payments for the PPI section are £52.82.

Well i was let go from my place of work last August 2010 and i started work in January 2011. I spoke to Tesco in August 2010 and said i was having trouble making the payments as i was being made redundant so they put me on a reduced payment plan. I had several discussions with Tesco to say i was out of work and they made no mention of claiming on the PPI i had forgotten about.

I have rang them and said that had I been offered the option of using the PPI i would probably not have to take the reduced payment plan. They are coming back to me.
This one has a very good chance,as you did not know you had ppi and went onto reduced payments and the bank did not tell you that you had ppi to make a claim,dont think they will let this go to FOS!!

I have also lodged a complaint with Barclays for two PPI loans as I didnt request the PPI to be added and was also unaware the interest would still be charged after the PPI had ended (5 Years for the PPI with a 20 year loan period):
These are front loaded ppi and there is a high success rate for uphelds with these,what were the reasons you gave for mis sell on these?.
First one was Dec 06 PPI payments for £45.36 but was settled early in Nov 2007 (i think 10 payments were made before settling the loan in full). Lodged the complaint on the 5th July 2011 and got a letter today (9th July) to say they will get back to me before the 25th Oct 2011.

Second one is still ongoing and i lodged the complaint on the 12th May and had 3 letters now saying they will get back to me by the 5th July, then the 29th July then the 1st Of August (the last two letters arrived the day after each other?) The PPI payments are £37.22 - i think about 36 payments made so far)

Finally i also discovered my previous car Loan from Lombard direct also had PPI on - this was in March 2004 (is this one too old to claim?) and was settled early in June 2007. This one doesnt even tell me the PPI portion of the payment but the monthly payments were £231.98 - i think 36 payments were made before the loan was settled in full. i have sent them a letter asking for them to investigate the mis-selling of this policy. But no response yet.
This is not too old to make a claim,if you dont get an acknowledgement by 14 days then give them a ring.
I have made no claims on any of the policies by the way.

Finally my questions - do i have good case on any or all of them? Also if i do what do you estimate i might get back?
These all look good,if you win you will get the ppi back paid to date with interest,if the loan is still running you will get the ppi taken off the loans and the monthly payment will reduce by the ppi monthly amount.
The loans that are settled you will get the ppi back with interest, less any rebates they gave you for early settlement on the ppi .

amersall

marcusarelius wrote: »

Well got a letter back from Tesco and they completely misunderstood the complaint - thought i was complaining about not offering the PPI whilst redundant last year. Well that was one element but the other was about the sale of it as it wasnt explained that even after cancelling the PPI i would still be paying interest on it as its added as front end sum. Got to send a new letter into the PPI complaints team for them (guess this would have been the best idea in the first place as i originally complained by phone and they have ignored my comments about the missell)

Just wondering how long tesco loans are allowed before replying - is it 8 or 16 weeks for them? And is it a different response time if i send the letter after 31st August?

Hi there, put in the complaint for them not telling you that you could claim on this ppi,they may may make you a goodwill gesture for your inconvenience,they may not but you can try

marcusarelius

Thanks Amersall - yeah will be complaining about both things on the Tesco issue - just wondered when its best to send the complaint in as i hear the required response times are different after the 31st August?

The Barclays ones i complained about based on the fact that i didnt know i would still be paying the interest even after the PPI had ended. Also was told that if i cancelled the PPI my monthly payments would not be reduced as its a front loaded policy - was told this when i tried to cancel the PPI a few months before i claimed. sent these in May this year so the 16 weeks will be up in the next week so should hope to hear soon.

The RBS/Lombard one i sent in June so still a while till their 16 weeks is up.

Keeping my fingers crossed on all of them.

marcusarelius

quick update - just spoke to barclays about my first loan ppi logged on 10th May and been told it has been upheld and an acceptance letter sent out yesterday - cant tell me any details but i will snatching that letter from the postie tomorrow!!

marcusarelius

Well quick update - had a settlement figure given on the 1st September for one of the Firstplus loans - still waiting for payment.
Still waiting on responses from the other FP loan and RBS and Tesco but about 4 weeks to go on these.

Was just trying to understand on my other FP loan which was settled after 8 months do i get the front loaded PPI amount and the 8 payments for PPI back as well? I asked Niggly about this a while ago but dont understand why he is saying subtract the monthly ppi payments? see below for his estimate:

"The ppi will have been added onto the settlement figure. fp quote a rebate of 25% at 12 months into a policy. So £4898- rebate £1224 = £3674 less contributions of 45.34 x 8 = 362.72= £3000 that you have paid off with the settlement

Then approx 4 years at 8% on this is £960.

So could be as much as £4000 to refund."

If anyone can help much appreciated as am hoping they will settle on this one too for the same reasons as the current loan. They were done seperately by the way but i hear from some people that they should have checked historic loans as well - their offer is just relating to the one current loan.

marcusarelius

Hi All,

sory to bump this post but was just wondering if someone can please look at my last question about the refund including both the front loaded ppi amount and/or the ppi monthly payments as well?

saverjustice

You need to complain about each loan account number.

These lenders are in such a mess simply because of the idiots they put in charge of risk and compliance.

marcusarelius

hi Saverjustice - i have logged complaints for all of them and Firstplus are paying out on one - but wanted to check the figures on the other one which i should about soon as this is a closed early loan so just trying to work out if i am entitled to front loaded ppi section as well as the ppi monthly payment or either of each?