PPI Reclaiming Discussion Part 5

amersall

DJRage wrote: »

Hi there folks,

I learnt recently after going through my fathers bank records (he is 76 now so not all up there I'm afraid so is in no position to make a claim) that he had taken out an endowment mortgage on the council house he bought back in the days of the Thatcher right to buy scheme (remember those!!) - this was in 1987 for the princely loan of £40K - peanuts today by some peoples standards but a fortune for him back then (and even now given that he is retired).

However the fact that he had an endowment is not the concern but the fact that his statements showed he had to pay an insurance for keeping up the mortgage payments. These showed that he paid £132.00 a month in payment protection - upto 2007 when I paid off his loan for him because he could not afford to keep up the payments on the mortgage given the income he was receiving from the state and his pension. Hence over 20 years he paid £31680 in payment insurance. Now I have 2 questions :

1 . Does this sound wrong in that over 70% of his mortgage value is insurance
2. Does he have a right to claim or is PPI reclaim only on loans and credit cards?

I am sure he had no idea he was paying this as even today he is confused and thinks this was the interest payment on the mortgage. Also I know at the time he had a steady job with the post office and am sure they would have had some form of life cover or health cover should he get ill. It seems that a scrupulous IFA set this up for him but surely the company he was paying this and the mortgage to should have known it was a bit wrong. I am 100% sure he was told it was not optional and coerced into it with the all the usual pressure tactics of stating the risks when taking out a loan.

My concern is that this was a long time ago and also that the company he paid to no longer exists as it has been taken over and the IFA has long since gone.

Appreciate any thoughts/advice/guidance.

Regards

Hi, you need to post this question here
http://forums.moneysavingexpert.com/forumdisplay.php?f=187
They know more about MPPI.

amersall

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!

Hi, you need to post this question here
http://forums.moneysavingexpert.com/forumdisplay.php?f=187
They know more about Mortgage PPI and can help you more.

amersall

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!!

The 8% is on a decreasing scale for each month that you made the PPI payment, the nearer you get to the date they redress you, the less the 8% is worth, it is also taxable if you are a taxpayer.

amersall

squiggler wrote: »

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

Glad you won with FP :T:T:T:T
Post the question here
http://forums.moneysavingexpert.com/forumdisplay.php?f=159
"Title it trust deed and PPI redress" they will help you more with this than we can.
Is the interest the 8%? if it is this is taxable if you are a taxpayer, unless FP took this tax off before they gave it to you then you need to contact your tax office.

If you have to repay the £1000 then I would give it them out of the Interest money, as I would not want anything to do with this company ever again :D
Or better still offer them £1 a week and make sure they do not put any interest on, they would not have got this £1000 back had you not won mis sell of the PPI so it is only fair that they do not put interest on this.
It may be that they cannot chase you for this and I hope they can't :j, the guys on the link I gave you will help you more.

amersall

Moneyineptitude wrote: »

Best advice I can think of here is for squiggler to post his query over on the IVA and DRO board where there will be posters with far more knowledge than us about debt matters of this nature; Go here:
http://forums.moneysavingexpert.com/forumdisplay.php?f=159

:p that will teach me for not going past each post and back again to see if it has been answered

amersall

mdou wrote: »

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?

There should be 4 digits at the side of each Loan, you can use these to put on the Sar request.
They could find you from the info you put above if the digits are not there.

[Deleted User]

amersall wrote: »

Post the question here
http://forums.moneysavingexpert.com/forumdisplay.php?f=159
"Title it trust deed and PPI redress" they will help you more with this than we can.

Ha! Despite our (almost) identical advice, the thread in question has only garnered one response (from me)!:D

amersall

tpotter2890 wrote: »

I feel that I am being given the complete run around unnecessarily by Santander Bank. Banks have committed to repay PPI with interest but Santander is using every trick in the book to delay matters in the hope that complainant gives up and goes away. This is not a responsible attitude from a bank that has been given increasing responsibility by the government to take over other banks in the UK - latterly RBS outside of Scotland.
I made the complaint at the beginning of January and was told very clearly that it would take only 8 weeks as Santander was turning around complaints more efficiently than other banks - that's what was committed to me at the outset.

I was told that during this initial 8 week period, Santander was attending to its archives to verify what PPI had been paid to it via Abbey National which was taken over by Santander. However, it appears, nothing was actually done in this initial period by the Bank to progress the complaint.

Now, we are told one Pound needed to be paid to access the archives - we paid this too in order to try and get some satisfaction.

Every time to call to chase the matter, it takes easily an hour to get through to the specific complaints department and even then we we stone walled and given endless excuses that the matter is in the hands of other departments who do not take calls from the public.

I have had other claims of PPI and these have been repaid by responsible banks. However, Santander is simply playing games with the public and abusing the trust and responsibility placed in it by the government and the tax payer.

Hi, it is possible the info they need has been archived, this depends on the year the Loan was taken out, the charge for archived info is £10 and not £1 although this may be the charge that Santander have for this request.

They should have told you that they have 40 days to find this info so you may have to wait a bit longer, they cannot redress a claim that they have no info on, the 8 weeks is not set in stone anyway they only have 8 weeks to send you a final response, as they are not looking at the claim and are looking for info then the 8 weeks could be extended.

They should be able to talk to you regarding this so that you know what is happening and being on the phone a great length of time is not right, I would give them some more time and hang back a bit and see what happens, you could get a result sooner rather than later.

amersall

Moneyineptitude wrote: »

Ha! Despite our (almost) identical advice, the thread in question has only garnered one response (from me)!:D

:D:cool:

american_bulldog

recieved a letter today from blackhorse saying

I refer to your recent letter
Having undertaking searches of our systems,unfortunatly we have not been able to locate an agreemant with the information you provided.In order that we my comply with your request please provide a valid agreemant number or any further information for example any previous adresses ,a date of birth,or a car registration number that may assist in locating your account number.
BELOW IS A COPY OF MY SAR LETTER



DATA PROTECTION ACT 1998
SUBJECT ACCESS REQUEST

Date: 22/04/2011
Dear Sir/Madam
Name SUPLIED ALONG WITH DATE OF BIRTH

Formerly of
PREVIOUS ADDRESS WERE LOANS TAKEN OUT SUPPLIED
We understand that you currently hold details of our personal and financial information within your internal record systems with regard to personal loan accounts We would be grateful if you would provide the following for All accounts or associated accounts we hold or have held with your organisation: Full copies of all contracts which you believe exist or have existed between ourselves and your organisation, including true copies of any documents you hold in support of the same. A complete list of all transactions or statements relating to ALL of our Loan Accounts with your organisation. Copies of all documents which include any of our personal information including copies of any contacts or invoices, emails or computer records containing our personal information, or any records which pertain to this information. Full copies or transcripts of any correspondence in postal, email or any other format which you have entered into with any individual, organization or third party which contains our personal or financial, or which pertains to us. Where any previous information or records held have been deleted or disposed of, the methods used to do so, including dates, certificates or references confirming details of destruction. Where you are unable to provide such certificates, please provide a declaration, signed by an authorised officer of your company, confirming the dates and methods of destruction of this data. Full hard copy print outs of our personal or financial information, held in a digital, magnetic or any other format which is held in any archives, backups or other storage devices / locations. Underwriting sheet or other such document recording any commission (or other) payment made to an intermediary or packager, and/or payment/commission from the insurer in relation to our accounts.
Where you have used abbreviations and/or codes we would request that an accompanying sheet be provided so as to translate these abbreviations and/or codes and their meanings, we also request an accompanying appendices of the documents included and reference to the purpose or meaning to those documents.
we request that you provide all the information requested above, even though you may consider that it falls outside Data Protection.

we reserve the right to refer to the contents of this letter if an application for pre-action discovery is necessary relating to any of the documents requested herein.
we enclose a cheque in the sum of £10 to cover your fee.
IF YOU ARE UNABLE TO DEAL WITH THIS REQUEST, YOU SHOULD IMMEDIALTELY FORWARD IT TO THE PERSON WITHIN YOUR ORGANISATION RESPONSIBLE FOR DATA PROTECTION.
I look forward to hearing from you in the first instance of receipt.

Please forward all information to
ADDRESS WERE WE LIVE NOW SUPPLIED
Your Faithfully.
Im I doin somthing wrong supplied previous address and dates of birth