PPI Reclaiming Discussion Part 5

Learning2Budget

We had loans and credit cards not sure which had pi and which didn't. But i know we paid some. How do i go about finding out and claiming?

vorenus

Hi
Firstly sorry for the long post but for someone to make an infomred comment its best to have the facts in front of you. Anyway I was wondering if I could get advice on the following. I have read around the boards but as I am not financially minded don’t fully understand what, if anything can be done.

In August 2004 my wife and I took out a Home Improvement Loan via First National (A GE Company). I am in receipt of the originals of our copies of the agreement signed by both ourselves. The loan amount was for £6748 to be paid for double glazing. During the process of purchasing the double glazing we spoke only to the double glazing representatives who visited our home. They were insistent that we would not get the loan unless we took out the PPI policy with it. At no time was anything explained about the policy; alternatives; cooling off periods etc. They did go away but came back saying the lender would not lend the money unless their PPI was taken out. In fact they were so pushy and insistent we felt we had no option.

The Credit Agreement has the First National Logo in the top right corner. To its left is the wording “Credit Agreement regulated by the Consumer Credit Act 1974”. It has in the various boxes our personal details and the loan details are outlined in the section headed “ Financial & Related Particulars”. They are

A: Description of goods/services and cash price £6798
B: Less Deposit £50
C: Amount if credit for goods/services £6748
Protected Payment Premium £765.02
E: Total Amount for Credit £7513.02
G: APR - 18.3%
H: Anticipated number of monthly repayments 120
I: Minimum monthly repayments £129.02

There are no other boxes that break down seperately the loan and PPI amounts, they are lumped together as above.

[FONT=&quot]I have original letter from First National Welcoming us as customers. It mentions the PPI was taken out with Pinnacle Insurance plc. Initial letters were headed 'First National - A GE Company' and around February 2007 the letters started to have the GE Money Home Lending logo. I have several such headed original letters informing us as to 'Notice of Variation of Monthly Repayments'. These also include a breakdown of monthly payments made to date of notification issue which is also handy.

[/FONT] On the 7th August 2009 Cardif Pinnacle sent a letter to us stating the PPI expired on the 6th August 2009. I found this in amongst our paperwork.

In late June 2010 after coming into some money I settled the agreement in full with GE Money Home Lending, Harrow.

In summary we had a PPI policy forced upon us which we did not want or need. The said policy only ran for 5 years, whereas the loan itself was for 10 years. The PPI premium was frontloaded – from what I have read on the boards of this forum so may stand corrected – and combined with the original sum borrowed.

In April 2012 we sent of a PPI claim/complaint form we acquired via this website to GE Money outlining most of the foregoing and requesting refund of the PPI.

Today we received a response from GE Money Resolutions to the effect “that whilst GE Money provided the finance to you for the PPI, GE Money did not sell it to you. This was taken out through XXXXXXX.” It continues by stating “ As your complaint is specifically about the advice you were given, and because GE Money neither sold this PPI to you, nor were they present at the point of sale, I do not feel we can investigate your complaint fully or fairly”.

It goes on to say we should chase the double glazing company as nothing to do with GE Money and closes with “ As for GE Money’s involvement, I need to inform you that this is our final response letter”.

I was intially taken aback however a bit of googling etc and it seems these are pro forma replies fired out in response to PPI claims. There was a leaflet enclosed advising I could make a complaint to the Financial Ombudsman Service etc if I wished to esculate the matter.

However my thinking is that in doing so I would need a full and detailed response from GE Money relative to my case, and not some generic 'go away' pro forma letter response.

rateatbat

Hi, Sorry back again about my mothers loan she took out with British Gas, at least that is who she gets her statements from showing how much she has paid. I've been writing to them requesting copies of the loan agreement and any terms and conditions etc so I can see for myself if my mother has paid PPI, there does seem to be some kind of Insurance there or maybe it's interest!!!. British Gas not really helpful, they've sent me a copy of some terms but the photocopy is bad and I cannot read it. I wrote back to them requesting a better copy and I have now received a letter from Halifax asking for the account number which isn't the one on the British Gas loan statement apparently, no idea why Halifax is involved but they have the letter that I sent to British Gas. Originally I wrote to British Gas and copied in Bank of Scotland as their name and address was at the bottom of the statement, assuming they may have funded the loan. Sorry i'm totally lost - do they doe this deliberately to confuse people. Can someone explain to me please I've no idea who I should be dealing with now or what letter I should be sending to them. Please

FinonaH

Hi Folks

Forgive me if this question is a repeat - I have looked through previous questions and answers but not found anything that falls in with our experience.

We had a loan with First Plus in about 2002 which we paid off in full in 2004/5. Called First Plus today to get a copy of the agreement and they volunteered that the PPI on that account was £9,650. At the time both of us were employed with benefits that made PPI surplus so we would not have selected it by choice.

We both set up our own companies in 2005 and in 2008 we had to declare ourselves bankrupt . We lost everything - house, cars and savings. We were discharged 12 months later.:j

Question is, is it worth us claiming the PPI on the loan with First Plus? It was paid off in full well before the finances went pear-shaped. I don't want to start the ball rolling to find out any money goes to the OR. First Plus was not one of our creditors, nor was Barclays although we did have a Barclaycard that was listed. It has been hard enough trying to rebuild our lives
emotionally and financially and I don't think I could handle the disappointment if any refund goes elsewhere. Many thanks for reading.

mitchell69

cappo wrote: »

They also might have been covered by the GISC as well at that time.

If this is so wot is my next step, ive been intouch with Black Horse again today and actually spoke to the people who are reviewing my claim, I neede to ask certain questions on things they have put in my refusal letter, they say certain things must have been miss-printed, they also asked if i had savings which i did at time of cover, and did i have an income if i was off sick, which i did two in fact, ssp and isp, they also asked was i paying into a private pension at the time which i was....... does this mean they are starting to think twice??? any answers?

amersall

I sent my SARS on 20th April. Have heard nothing, nor has the cheque been presented, anyone know the time scale for replies to SARS (Natwest).

They have 40 days to give you this info and may cash the cheque any time, glad you got the original DC back, at least you did not lose that, fingers crossed you get the info you need.

amersall

andylad wrote: »

Many thanks! Last question would a PPI from the first loan cover the other loans or would 6 independent PPI's always have been needed. Just curious.

If these loans were consolidate loans, then I would put 6 questionnaires in ( I know this is time consuming but this way they have to look at them all ) did you pay this PPI in with the loan payment each month? if you did then these PPI were Single Premium, in effect a loan on the loan that you paid to term end with interest, use this as the reason for mis sell as this is the most upheld of all PPI reclaims.

happytalk

TakingControl wrote: »

Just had a letter that MBNA have upheld my claim :j They stated that a cheque would be with me witin 28 days, anyone got experience how fast they pay out?

Hi would like to tell you that I had the same letter from MBNA and my cheque arrived two days later. I had a pay out from RBS which took 15 months so I found MBNA met my claim within three weeks of writing to them and it was what was to me a huge amount. I hope yours arrives as quickly good luck.

amersall

chrisecole wrote: »

Can anyone advise me what I do now both the loan company and mortgage company had refused to accept my complaint. The loan company, beech finance have told me they will not allow the FOS access the information
The mortgage company said it is because they were not the original company. Where do I go from here as both were front loaded

You need to post the question about the MPPI here

http://forums.moneysavingexpert.com/forumdisplay.php?f=187
Put what Insurance this was and what it covered and how you were sold this, they can help you more with this.
If you can go mis sell with this, then you need to go for whoever you got the mortgage with as they sold you the PPI and not the company that gave you the money.

With the loan, what year was this taken out and what exactly did they say in the rejection?.

ac944

Lloyds Bacs help please
Good evening,

Lloyds have confirmed to be me today that they have issued a bacs payment into my lloyds current account today. In respect of the PPI complaint they upheld!

Can anyone tell me when this will show in my account? I know they give the standard "5 working day" response but does anyone have anymore details? Not sure why they mentioned Bacs either when my current account is lloyds also!

Thanks in advance