PPI Reclaiming Discussion Part 5

[Deleted User]

derek3882 wrote: »

does reset mean they will just be taking the ammount off the total loan ammount ?

No, "reset" means to remove all PPI insurance from the loan and put you back in the position that you would have been in if you hadn't been sold payment protection at the outset.
However, if you are in arrears with repayments to the loan, they are likely to use the redress towards the outstanding debt.

mumpig

Hoping for a little help & advice-but this questions probably been asked before but there are so many PPI threads and questions its making me more confused trying to find an answer..........
Had yet another call yesterday from a PPI claims company & was bored so decided to waste a bit of time....however it looks like I was sold PPI without my knowledge on a loan in 2005, paid off in 2008 for £5000. It was with Northern Rock & I don't have the paperwork anymore.
No idea who to contact, to follow site guide, tempted to use claim co. to make it easier, but Martin says NO!
However, asked guy on phone 3 times very clearly if by agreeing to them sending me the paperwork I was entering into a verbal contract and his answers were very unclear, also he had to pass me to the next department but told me several times to not say I did not even know I had agreed to PPI (which I would never have agreed to & is the truth) but to say I was told it was compulsory....not happy about a claim company telling me to lie and thinks this says a lot about their standards and practice. (Didn’t get the name of the company but will when they phone back)

Anyway, I could not wait on hold so guy is ringing me back this morning,

1. Can I get them to send me the paperwork and use it to make my own claim or is this entering into some form of contract with them?
2. Who/where do I contact for Northern Rock?

Any advice much appreciated
....and I cannot beleve I've been mis-sold! I'm careful about this stuff and it looks like I've been done, Martins right everyone should check!
Edit: Bit of Googling & Its AimsReview slated by Which for its bad practice, why am I not surprised!

cappo

A little bit of news guys if you don't already know



http://www.dailymail.co.uk/money/news/article-2124066/Banks-seek-new-defender-Angela-Knight-quits-British-Bankers-Association-post.html?ITO=bookmark-chromeext

amersall

derek3882 wrote: »

does reset mean they will just be taking the ammount of the toatl loan ammount ?

Reset means they will redo the loan without the PPI and you get the PPI payments you made to date back to you, the monthly payment will reduce by the monthly PPI amount going forward.

Do you know what the original PPI amount was?.

robbie131986

hi guys great thread. im new here so plese be patient with me as i need some advice on where to go next with my claim.

i opened a dispute with lloyds tsb on feb 7th over the phone with their dedicated ppi team and in that phone call i told the advisor that i wanted to complain about the restrictions and limitations on my ppi when i took out the policy as i was self employed at the time. they didnt ask me any questions about how long i had been self employed and didnt tell me of any limitations should i need to make a claim. I also insited that i wanted to complain about the manner in which the policy was sold to me as i asked the sales person if i needed the ppi and she said that i would "need" it in case i became unemployed. they have since sent me a letter to tell me that they have considered all the evidence regarding my claim and that they are unable to uphold my complaint on the grounds that the features of the policy were adequately presented to me. they have based this on the fact that they gave me a policy summary booklet. however not being a legal expert a lot of the jargon in this booklet is very confusing and not completely transparent.

here is a quote from the letter i have recieved

"the documentation provided both at the point of sale and after purchacing your ppi policy, such as the policy summary and policy booklet, fully explained the benefits and limitations of this policy. Iam also of the opinion that this was brought to your attention at the time of sae"

no i cant understand how someone sitting in an office at lloyds head office can have an opinion on a sale that occured face to face between me and a branch staff member when they werent present at the time?

i was thinking of asking lloyds for a copy of my origonal policy terms and policy summary along with any information that they have used in coming up with this response before persuing this any further as when i spoke to them yesterday they said that i should contact the ombudsman and i want to have all necessary info and evidence available before continuing. any advice would be greatly appreciated and soory about being so long winded about it all.

katcris

amersall wrote: »

It is weatherseal you have to do the mis sell with.

When you got a no in 2010 was this the final response from FP? if it was then you have passed the time allowed to take this to FOS, put a claim into Weatherseal and see what they come back with.

Thanks amersall for your advice, I just accepted their reply and binned the letter, I don't have the original paperwork but I do have my account number from FP, will weatherseal know what I'm claiming for?

karloun

hi all, needing some advice please. My mortgage was with mortgage lender for 5 years, when the fixed rate ended I shopped around and moved the mortgage to the best deal I could find. Can I claim PPI off the original lender? Will it affect my current mortgage (held elsewhere). Many thanks in advance.

RuthnJasper

madmartha wrote: »

Hi has anyone had ppi complaints with marks and Spencer's? My mum put complaint in nearly 8weeks ago, phoned today for an update and was informed they haven't done anything with complaint as it was overlooked!! He said he would put urgent on it? Should she hang on until next week or ask again? Has anyone experienced this?

I've got a complaint in with the FOS re. M&S Money, as they were fairly useless. Nothing to be lost by ringing them again - if anything, it may help to put your mum's mind to rest if she talks to them again. Good luck. x

RuthnJasper

Howdy! I wonder if I might ask you knowledgeable good folks for a bit of advice?

I'm in an IVA, due to end in August 2013. I'm pursuing a PPI Claim against M&S Money, now with the FOS which WASN'T included in the IVA as the card had a zero balance on it.

On Friday I received a package sent via courier - it contained a letter and various forms from my IVA practitioner saying that, as my IVA providers, they were duty-bound to claim the PPI on all loans/cards/etc. within my IVA and they have appointed a firm called "Equity in Finance" (I have looked up their website, which does NOT inspire confidence; it consists of images of a stately home - presumably their place of business - and a contact address and nothing more!). I'm instructed to sign the forms provided to enable EiF to claim the PPI on everything relevant within the IVA, for the benefit of the IVA.

I did find a thread here: http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=41406 about this very thing, but I would really appreciate some advice from you here as to what I ought to do. Should I sign the forms or not? I probably would have a fairly strong claim for mis-selling, due to my medical history, but I'm concerned...

Very many thanks. x

amersall

katcris wrote: »

Thanks amersall for your advice, I just accepted their reply and binned the letter, I don't have the original paperwork but I do have my account number from FP, will weatherseal know what I'm claiming for?

They will if you have the account number.

They may come back and say they were not regulated at the time of the sale, what year did you take this loan out?.

When you put the claim in it would be worth while asking who the Insurer was.