PPI Reclaiming Discussion Part 5

DDave_2

Think also will have to recommend we all award you a medal - so much advice and time given again and again fantastic- thanks again:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T

sugarpuss27

DDave wrote: »

Think also will have to recommend we all award you a medal - so much advice and time given again and again fantastic- thanks again:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T

Totally agree DDAVE. :A:A:A

Dazzathomp

Help

I think ive been asleep, iv been paying PPI since 1999 on my next account and have only just realised, is it too late to make a claim and where do i start.

amersall

sugarpuss27 wrote: »

Hi Amersall thanks for the reply. We only make the one pmt of 113.00 which is the loan plus ppi. Also when I rang up initially enquiring about the ppi they said that the ppi balance was at zero which struck me as odd. Does that mean it was paid up first?

The ppi and interest were paid off first from the monthly payments, as it said on the bottom of the agreement, this is wrong though as the loan does not start to decrease until the PPI and charges have been paid off.

As this loan was over 122 months then you would pay the ppi and insurance before you even make a dent in the loan, if you did not have ppi the loan would have decreased dramatically from the get go, this is another reason this PPI is wrong on your loan, see what reply you get from them and take it from there.
Hopefully this will be upheld x.

amersall

DDave wrote: »

Think also will have to recommend we all award you a medal - so much advice and time given again and again fantastic- thanks again:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T

:D We do our best :D

sugarpuss27

amersall wrote: »

The ppi and interest were paid off first from the monthly payments, as it said on the bottom of the agreement, this is wrong though as the loan does not start to decrease until the PPI and charges have been paid off.

As this loan was over 122 months then you would pay the ppi and insurance before you even make a dent in the loan, if you did not have ppi the loan would have decreased dramatically from the get go, this is another reason this PPI is wrong on your loan, see what reply you get from them and take it from there.
Hopefully this will be upheld x.

Thanks again Amersall, will post again when I get a reply. It just shows how ignorant I was about these things, just blindly accepting these things as normal and I thought I was quite savvy

amersall

Dazzathomp wrote: »

Help

I think ive been asleep, iv been paying PPI since 1999 on my next account and have only just realised, is it too late to make a claim and where do i start.

Look here for reasons for mis sell

http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#step2
If any/all apply to you then put a complaint to next, you only need the card number and reasons for mis sell.
You could write a letter or use the FOS questionnaire, make a copy so if this goes to FOS you do not have to fill this in again.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

amersall

sugarpuss27 wrote: »

Thanks again Amersall, will post again when I get a reply.:)

Fingers crossed

tropicaltopaz

Hi, we took out a joint mortgage with Chelsea building society in 2000 and moved it from them in May 2008.

I have several statements showing that PPI was being paid, but no credit agreement so I sent them a letter asking for a copy of the agreement using the template, and received this reply "your mortgage was not executed under the Consumer Credit Agreement and therefore we are unable to supply the information you have requested", and the return of my £1 cheque. They included a copy of the Offer of Advance (4 pages) which don't mention PPI.

However it goes on to say "for any information that you may need about your account, please call our Member Contact Centre on .....", but I would expect that if I call the number they'll give a load of waffle that won't make any sense.

As I have the statements but not the agreement, I'm not sure what the next step is. I've read on here about a SAR letter but as the agreement was taken out nearly 12 years ago would this help?

di3004

tropicaltopaz wrote: »

Hi, we took out a joint mortgage with Chelsea building society in 2000 and moved it from them in May 2008.

I have several statements showing that PPI was being paid, but no credit agreement so I sent them a letter asking for a copy of the agreement using the template, and received this reply "your mortgage was not executed under the Consumer Credit Agreement and therefore we are unable to supply the information you have requested", and the return of my £1 cheque. They included a copy of the Offer of Advance (4 pages) which don't mention PPI.

However it goes on to say "for any information that you may need about your account, please call our Member Contact Centre on .....", but I would expect that if I call the number they'll give a load of waffle that won't make any sense.

As I have the statements but not the agreement, I'm not sure what the next step is. I've read on here about a SAR letter but as the agreement was taken out nearly 12 years ago would this help?

Hi there

If you no longer hold a mortgage with them, then they do not always keep details of the actual agreement once 6 years have passed, but they may still hold other details, but you can continue to make a reclaim if mis sold the PPI on the mortgage by completing a reclaim questionnaire on step 3 below link, remember to keep copies as well.

Good luck.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3