PPI Reclaiming Discussion Part 5

Nitamcc21

nursey07 wrote: »

hi, was wondering if i can be pointed into the right direction with ppi's.
when we took out our mortgage nearly 8 years ago we were told by our "independant" advisor (turns out he wasnt so independant and sold us the ppi from his company which was Zurich) that it was required that we must have an insurance to cover our mortgage incase of illness or accident...so 7 years and a car crash later we attempted to claim from this insurance as my partner was off work due to the car crash, basically we were told that we couldnt claim and were told we cant cancel the policy!?
is it possible to claim the ppi from this??
we didnt want it, we dont need it now as i work for NHS therefore dont need it as im payed when off ill and we cant cancel!!
to be honest i have the forms ready for a company to see if they can claim it back however this totals to alot of money and would prefere not to give them such a large amount of money if i can do this myself. how long do these claims take???

sorry to blether on......any answers would be very much appreciated!

You should be able to claim it back - there is a bit of the forum especially for mortgage PPI and they should be able to give you some good advice. All I can say is not to use any companies. The do nothing for you, you have to do all the leg work filling in of forms etc. All they actually do on your behalf is act as a middle man and post your letters to the companies. You'd be far better off doing it yourself.

Hopefully someone will pop on with a more informed answer than mine soon

Neets

jensavage

Hi, I have read through the website about reclaiming PPI but I just wondered if I can actually do this easily even though a lot of my accounts are now closed down. I noticed there was a template letter for getting back information but I don't even know my account numbers etc because I closed them down such a long time ago and thought it was ok to shred everything!

Here is what I have had:

A loan from RBS, a Debenhams store card, a Topshop store card and credit cards from Egg, Capital One and RBS. They are all now paid off and closed completely and I have absolutely no paperwork for them, so I don't really know how I would go about investigating them.

I am currently on maternity leave and money is tight so I thought it would be worth a try and MoneySavingExpert was recommended to me. I am not even sure whether PPI was sold to me, I am pretty sure I said a definite no to it on my RBS loan?

I am sorry if this has already been covered, but there are over 100 posts on here and with a baby who has just started crawling I just haven't got the time to read through them all.

I would be grateful for any help.

Thank you :-)

Jenny

CrazyTink

Good Morning everyone,

Very happy person here, today is 8 weeks since i made a complaint to lloyds tsb against 2 loans, it took 2 phone calls and i have been offered over £2k
question i have for any of you in the know is in the letter it says they will use any refund to pay off arrears, i have a current loan which i have about 18 months left to pay, i am paying my monthly payments as initially agreed and haven't missed any payments, just a straight forward loan, will they use my refund against this to clear the balance or will i actually get the money paid to me?
thanks in advance

cappo

jensavage wrote: »

Hi, I have read through the website about reclaiming PPI but I just wondered if I can actually do this easily even though a lot of my accounts are now closed down. I noticed there was a template letter for getting back information but I don't even know my account numbers etc because I closed them down such a long time ago and thought it was ok to shred everything!

Here is what I have had:

A loan from RBS, a Debenhams store card, a Topshop store card and credit cards from Egg, Capital One and RBS. They are all now paid off and closed completely and I have absolutely no paperwork for them, so I don't really know how I would go about investigating them.

I am currently on maternity leave and money is tight so I thought it would be worth a try and MoneySavingExpert was recommended to me. I am not even sure whether PPI was sold to me, I am pretty sure I said a definite no to it on my RBS loan?

I am sorry if this has already been covered, but there are over 100 posts on here and with a baby who has just started crawling I just haven't got the time to read through them all.

I would be grateful for any help.

Thank you :-)

Jenny

Hi jen and welcome what i would do in the first instance is to just ask the relevant lenders whether you had ppi as storecards this will probably have to be over the phone, if they all say that you did'nt have it and you think you did then put in sar requests, though at a tenner a time it's going to be a bit pricey this might not show ppi but it should at least show account numbers, when requesting a sar you need to give them as much detail as you can namely any maiden names, addresses etc.


http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#step2

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


https://forums.moneysavingexpert.com/discussion/1475553

cappo

CrazyTink wrote: »

Good Morning everyone,

Very happy person here, today is 8 weeks since i made a complaint to lloyds tsb against 2 loans, it took 2 phone calls and i have been offered over £2k
question i have for any of you in the know is in the letter it says they will use any refund to pay off arrears, i have a current loan which i have about 18 months left to pay, i am paying my monthly payments as initially agreed and haven't missed any payments, just a straight forward loan, will they use my refund against this to clear the balance or will i actually get the money paid to me?
thanks in advance

Hi they should only use any refund to offset your loan if you are in not agreed arrears. So it should be given to you to do as you please with.

cappo

Nitamcc21 wrote: »

You should be able to claim it back - there is a bit of the forum especially for mortgage PPI and they should be able to give you some good advice. All I can say is not to use any companies. The do nothing for you, you have to do all the leg work filling in of forms etc. All they actually do on your behalf is act as a middle man and post your letters to the companies. You'd be far better off doing it yourself.

Hopefully someone will pop on with a more informed answer than mine soon

Neets

Hi Neets i agree steer clear of the cmc's.

amisgeek

morning
i wonder if anyone can help me.
my hubby has just sent a ppi cclaim off to sainsburys/bos for a loan he took out in 2002 -2007. Luckily we still had the paperwork.
the loan was for £5000 and £1300 was added (6300 total) front loaded for ppi which he did not ask for.
ive just been reading the FOS website and this has confused me
We upheld the complaint made by Mrs U on the basis that the financial business had mis-sold her the PPI policy. We concluded that but for the financial business's failings, Mrs U would not have purchased the PPI policy. In her case:

• her overall loan was for £7,500 (with monthly repayments of £250) – but it would have been £6,000 (with monthly repayments of £200) without the additional lending to fund the single-premium PPI policy;
• the term of the loan and policy was for 36 months;
• Mrs U paid all monthly payments on time and the loan was settled as planned.

So Mrs U had paid the lender £50 a month more than she would have done, had the financial business not mis-sold the PPI policy. Accordingly, we required the financial business to:

• return to Mrs U each of these excess monthly payments of £50 that she had made over the 36 months of the loan (£1,800);
• add interest to each of these excess payments of £50, at a rate of 8% simple, from the date each payment was made until the date the financial business repaid Mrs U;
• pay Mrs U £200 for the extra inconvenience she had been caused in having to refer her complaint to us – because the financial business had rejected her complaint without properly analysing the defects in its sales practices; and
• set out for Mrs U the details of its calculations.

the thing that has confused me is where it states that the bank paid 8% interest from the date of each payment till the financial business paid- surely this cant be right- does that mean if the hubby is successful the bank would have to pay up till now??i presumed it was till the end of the loan!!
dont want to count my chickens before they hatch, but also dont want to be ripped off by the banks any more than we already have!!!!!!

Thanks

cappo

amisgeek wrote: »

morning
i wonder if anyone can help me.
my hubby has just sent a ppi cclaim off to sainsburys/bos for a loan he took out in 2002 -2007. Luckily we still had the paperwork.
the loan was for £5000 and £1300 was added (6300 total) front loaded for ppi which he did not ask for.
ive just been reading the FOS website and this has confused me
We upheld the complaint made by Mrs U on the basis that the financial business had mis-sold her the PPI policy. We concluded that but for the financial business's failings, Mrs U would not have purchased the PPI policy. In her case:

• her overall loan was for £7,500 (with monthly repayments of £250) – but it would have been £6,000 (with monthly repayments of £200) without the additional lending to fund the single-premium PPI policy;
• the term of the loan and policy was for 36 months;
• Mrs U paid all monthly payments on time and the loan was settled as planned.

So Mrs U had paid the lender £50 a month more than she would have done, had the financial business not mis-sold the PPI policy. Accordingly, we required the financial business to:

• return to Mrs U each of these excess monthly payments of £50 that she had made over the 36 months of the loan (£1,800);
• add interest to each of these excess payments of £50, at a rate of 8% simple, from the date each payment was made until the date the financial business repaid Mrs U;
• pay Mrs U £200 for the extra inconvenience she had been caused in having to refer her complaint to us – because the financial business had rejected her complaint without properly analysing the defects in its sales practices; and
• set out for Mrs U the details of its calculations.

the thing that has confused me is where it states that the bank paid 8% interest from the date of each payment till the financial business paid- surely this cant be right- does that mean if the hubby is successful the bank would have to pay up till now??i presumed it was till the end of the loan!!
dont want to count my chickens before they hatch, but also dont want to be ripped off by the banks any more than we already have!!!!!!

Thanks

Hi you get the 8% up until now as you have been denied the use of the money until now.

squiggler_2

Hi, first post on this forum, just wanted to say thank you so much for the guidelines and templates on this forum. I would never have claimed without these. I have received my first offer from FirstPlus and would like some advice please?
The complaint has been upheld and the refund of premium is £12,729.53 plus interest of £5,620.55.
I entered a voluntary protected trust deed in 2006, when my house was sold alongside my car and other assets. I paid into this for the next three years and was discharged in 2009. I had no idea at that time about PPI claims so the question never came up. The Firstplus debt was discharged as part of the trust deed.
They are now saying that they will pay me the interest and apply the premium refund to the debt, which I can understand (although I thought the debt was dead tbh). However, they want to restructure the remaining £1000 that would be left of the debt. I am deeply unhappy about this as I felt that this debt was behind me.

What would you advise?

Thanks for any help xx

mdou

Hi

Can anyone help please? I have just received my credit report but am unsure of what to do next. I have no other info of my loans etc so when I use the template i am unable to complete the first line! If I give the date started/settled and the payment terms to the company, do you think it would be enough?