PPI Reclaiming Discussion Part 5

Sparkle_66

Octonut wrote: »

I've sent off the FOS questionnaire to MBNA, Barclays Bank, Capital One and Barclaycard and I've had my first response back from MBNA stating they hope to give me a decision within 28 days - I feel quite nervous for some reason now.

Does anyone else find its obsessional? I keep reading the success thread and daydreaming!

I've developed a bit of an obsession too, it's been 4 weeks since I sent my PPI reclaim to Co-operative Bank. It was acknowledged within a few days but I keep reading this thread & Successes & Failures. I didn't have any paperwork but as I bank with them just gave my account details. Reasons for claiming pre-existing medical conditions & full/half pay for sickness.

Keep wondering if they will pay up as I want to pay my credit card off £3500 and be debt free. Fortunately no loans or overdraft and cc is 0% with no PPI. Fingers crossed.

cappo

ElleMicha wrote: »

Hello. I had a loan last 2006 to start a business but it failed miserably so i ended up having a loan and credit card that i cant no longer pay so i found CCCS ( Consumer Credit Counselling Service) and they managed to help me have a debt management plan meaning i have been paying my debtors for what i can only afford. I know for sure that I have paid the PPI involuntarily but I do not know whether I will still be entitled to put a claim since I have stopped paying for the loan and credit card payment in actual amount I owe them. Any advice will be highly appreciated. Thank you kindly!

Hi elle yes you can still put a claim in, a lot of what is recovered might go back into the dmp though but it will bring your debt down

loving-my-baxters

I had a credit card with Capital One many moons ago and feel certain that I was paying a ppi premium without really knowing about it (very financially naive back in the day).

Does anyone know the address I should send a reclaim letter to???

Many thanks

upsidedowngirl

Hello,

would love some advice please ..

I had a couple of loans in the late 90s which both had PPI. One through Natwest, whom I still bank with, and on which it was added after my loan application and someone calling me to say I needed to add it on. The loan was for a couple of years. Has anyone had success with loans from so long ago?
The second was through a catalogue and Bank of Scotland I think. I had the loan a few months when I had a car accident and was off work, called them to be told it didn't pay if I had sick pay from work. This might take some tracking down so any ideas anyone?
Lastly, I paid huge sums for cover on my CC and still wondering the best approach given it was a postal application? I don't recall ticking, or not ticking, any boxes but might have asked for it? Has anyone had a success from a claim such as this? and how best to approach it? gosh I paid for loads for a policy it seems would probably never have paid out! I know they will say 'not advised' but surely that can't be a get out?
Any guidance much appreciated ..
Thanks

di3004

loving-my-baxters wrote: »

I had a credit card with Capital One many moons ago and feel certain that I was paying a ppi premium without really knowing about it (very financially naive back in the day).

Does anyone know the address I should send a reclaim letter to???

Many thanks

Hi there

And welcome

Found some details on a link here which may be helpful for you.

http://www.capitalone.co.uk/support/card-protection-payment-protection-insurance.jsf

If your complaint relates to the sale of your policy you need to contact the:

• Executive Office, Capital One (Europe) plc, PO Box 5281, Nottingham NG2 3HX.
• Telephone number for complaints only 0115 843 3792.

If your complaint relates to your policy or a claim on your policy you need to contact the:

• Creditor Claims Team, AXA Insurance, Civic Drive, Ipswich IP1 2AN.
  Telephone number 0845 601 9648*.
  
  Complete the reclaim questionnaire and send to the 2nd addy I should think above, remember to keep a copy, as long as you have your account number, you do not have to actually worry about requesting for the paperwork if you don't want to, good luck.

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

di3004

upsidedowngirl wrote: »

Hello,

would love some advice please ..

I had a couple of loans in the late 90s which both had PPI. One through Natwest, whom I still bank with, and on which it was added after my loan application and someone calling me to say I needed to add it on. The loan was for a couple of years. Has anyone had success with loans from so long ago?
The second was through a catalogue and Bank of Scotland I think. I had the loan a few months when I had a car accident and was off work, called them to be told it didn't pay if I had sick pay from work. This might take some tracking down so any ideas anyone?
Lastly, I paid huge sums for cover on my CC and still wondering the best approach given it was a postal application? I don't recall ticking, or not ticking, any boxes but might have asked for it? Has anyone had a success from a claim such as this? and how best to approach it? gosh I paid for loads for a policy it seems would probably never have paid out! I know they will say 'not advised' but surely that can't be a get out?
Any guidance much appreciated ..
Thanks

Hi and welcome

Firstly in regards of the credit card, it may have been pre-ticked, although they will possibly come back saying that you opted for it, but you must insist that you did not require this as you were already protected by your employer (if this applied to you then of course) and then state, why on earth would you have opted/ticked for ppi if you already had cover in place, and give all reasons that apply.

You simply just complete the reclaim questionnaire complaint form below link here:

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

Send to the ones responsible for setting up your account and keep copies as well.

Secondly Catalogue PPI, you have a good reason here and they SHOULD pay out easily on this one.
Tell them you have recently became of the mis selling of the PPI in the media, and you believe you have grounds to make a reclaim/complaint, because you tried making a claim in previous years and they refused to pay out, so in your case this policy was worthless to you and you were deprived of your money.
You will need to contact the catalogue direct and complain.

Same as above on how to reclaim (keep copies).

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

In regards of the Natwest etc, the same reclaim questionnaire for the catalogue reclaim (think these forms are standard for all complaints now anyway).
You need to give as much info as you can in relation to why you believe you were mis sold, make it clear that you did not apply or tick for this product but they contacted you to confirm that it had to be added, so they added it without giving you that choice to say no.

As the loans were with the same bank, if mis sold for the same reasons, you can if you want to keep to the same form for Natwest, but personally I think it's best to keep them separately.
If you decide to keep to the same form, make sure you enclose all loan account numbers that apply.

Good luck on your reclaiming.;)

di3004

acute18 wrote: »

Hi Amershall


sorry for sounding dim!! so all i get is the amount they offer direct from santander, it fine if that the case but bit gutted as my sister got loads more on a small loan of £2000 and got £1300 including compensation. from welcom finance!

just dont understand how this works i suppose.

i did put down other reasons to that the site download gave me.

Hi there

Sorry not got round to reading your previous post as yet about this one, but if they uphold your complaint in your favour, they then refund what you have actually paid of the ppi, plus the monthly relevant interest and in general a further 8% of what a court would award.

Everyone's will differ because amounts borrowed differ, where the amount of PPI will differ if you get what I mean.

Well done on your success!:beer:

upsidedowngirl

Hello Di and thank you very much
I guess I am just worried about filling the form and saying something that will scupper my chances. I know the CC PPI was on the statements from the word go but did not query this or indeed have any idea what it was for - can't believe it now I say it!
I am going to give each of them a shot anyway. The stories I have read briefly on here have really helped and the support and advice from those such as yourself gives me hope those rascals might return some of my money!
Here we go .. and thanks again...

di3004

upsidedowngirl wrote: »

Hello Di and thank you very much
I guess I am just worried about filling the form and saying something that will scupper my chances. I know the CC PPI was on the statements from the word go but did not query this or indeed have any idea what it was for - can't believe it now I say it!
I am going to give each of them a shot anyway. The stories I have read briefly on here have really helped and the support and advice from those such as yourself gives me hope those rascals might return some of my money!
Here we go .. and thanks again...

Hi

Your very welcome.

Give it your best shot.

Complete a draft questionnaire first, so you can go back on it when you completed it, if you think you missed something then add it on, you can then complete a fresh one to send.

I found that helped me.

(I wrote down a paragraph) firstly (roughly) on some plain paper and a list of my reasons just to make sure I missed nothing.

You will be fine.;)

very_frustrated

Would appreciate some advise on First Plus' "restructuring" calculations on my existing loan and their offer of PPI refund.

I took out a secured loan (£80,000) with first plus early of 2005 (variable interest rates...which had fluctuated between 8.9 % to 10.3% over the years !). I was of course advised incorrectly to take up PPI (£15,944) even though i was self employed at that time. This amount was added on to my loan making the total of £95,944 !!!
Five years later, I was offered the cash back of £15,944 which of course I accepted. However, when I realised that I was actually mis-sold the policy and that I had to continue paying the PPI interest for the duration of the 25 year loan, I wrote to them about the interest refund and restructuring of my existing loan (ie to put me in a position had I not taken up/mis-sold the PPI).

Their response was an offer of £10,018.32 for the payments i have paid in respect of the PPI and £1,966.77 for the 8%p/a simple interest AND if I was to accept this offer, my existing loan will be revised to £88,702.87 !! (which is more than the original loan taken out 7 years ago!!), making my current monthly payment to them higher than it is now !! Is their calculation correct ???

It does not make sense....or if it does to anyone, I would very much appreciate their explanation and advise......please Help....need to reply F.P very soon......should I accept their offer ?...