PPI Reclaiming Discussion Part 5

Andrewpa

amersall wrote: »

If you have the loan account number and reasons for mis sell then put the claim in.
Look here for reasons for mis sell
link deleted
If any/all apply to you then make the claim.
Can you remember if this PPI was paid back each month to the loan in the loan monthly payment, or did you pay the PPI as a separate amount?.

Thanks amersall. My initial concern was that the contract might have had loopholes or subclauses that prevented any action on my part, but it appears to be more to do with what was said at the time?

At least one of those reasons applies. I was also on a fixed-term contract at the time and the way in which the loan was administrated was a really poor. I'm not sure whether either of those would add any weight to a (potential) claim.

The insurance is a monthly premium paid with the loan by DD.

amersall

Still_in_the_red wrote: »

Hi everyone,

I'm new to this so apologies if I havent posted this to the right area or if this has already been raised before.

I have ppi miselling claims in with First Plus for a large loan from 2002 (paid off) and another with HSBC from mortgage ppi (where the mortgage ended 2007).

My question is : when I took these out, I was married and they were in joint names. I have since split and have been seperated for over 4 yrs (although we have never got round to actually completing divorce proceedings). If the claims are successful, will the payout all be paid to me or will they issue me with half and wait for my ex-partner to claim his? The added complication is that my ex-partner has since been declared bankrupt so Im not sure how that would work for him (although the bankrupcy is due to be discharged next month)....we are still on good terms so could join forces to get this money back if necessary....

Does anyone have any experience of this and have a steer on what I can expect to happen?

Thanks all:)

Who did you get this loan from? it is possible due to the year that FP will say it was a broker,you put the complaint into whoever sold you the loan,ask FP who sold you the PPI.
When you have made the complaint, if they come back and say "no" then you may have to contact FOS to find out what you can do due to the year this was taken out, it may be possible to go to the insurer route.

If you do put a claim in then this is the letter you use, if it was a broker then change the company name in the last but one paragraph).

We/I would like proof to the contrary of my/our reasons for mis sell of the above PPI .


1)We/I were not told that the ppi was in effect another loan that was added to the original loan and was repayable over the trem with interest

2) We/I were told that the ppi was a 5 year policy, but not told the ppi would still be on the loan to term end with interest and would no longer have cover.

3) We/I were told that if we did not make a claim,or go into arrears on the ppi ,after 5 years we would receive the cashback of ppi but were not told this would not include the interest made on these payments that we paid over the 5 years or that the PPI would still be on the loan to term end with interest.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:
A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been needed, if the original loan had been sold without the PPI policy.

In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that Barclays First Plus pays them back to us. We/i believe we were not given enough information on this ppi to make an informed decision. Had we/i known the full cost of this ppi we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for my/our circumstances we/I will require you to rearrange the loan as if PPI had never been included.

This claim will have to be done by both of you, you need to let them know that any redress should be paid 50% equally as you no longer have a joint bank account, to find out what happens with the bankruptcy and the redress if you win should be asked on this thread

http://forums.moneysavingexpert.com/forumdisplay.php?f=136
They can help you more.

Still_in_the_red

Thanks so much for your reply. Not sure if Im missing the point though? I thought my loan was with First Plus. I unearthed an old redemtpion statement from when we paid off the loan and it was First Plus on the letterhead and no mention of any broker. Would First Plus have made the broker known to me?
Any thoughts on the HSBC query? Hopefully that one is more straightforward?

Knoydart12

Thanks to this website and template letters, we have successfully rec'd 10K+ in mis-sold PPI from Santander & RBS - quick and easy - thank you!

We have been customers of RBS 20+ years and have had a credit card for this length of time. I would describe us as good customers using our card for large purchases and paying off without delay, never missing a payment in 20 years. This week without warning I discovered RBS Visa had reduced our credit limit from 15K to £350 overnight! On enquiry I discover their reason for doing this is because they could not find our credit agreement which we signed in 1992 (seemingly misfiled!) - I assume they found this out when investigating our PPI claim. This is their only reason for reducing our credit limit. To say we are furious is an understatment - it feels very much like bullying tactics by RBS based on the fact that we have reclaimed mis-sold PPI! - currently going through the complaints procedure - but once PPI monies offerred are in our account I can assure you I will be closing every account I have with RBS! even after 20+ years. If this is how they treat good customer god help the bad customers! Any advice much appreciated.:mad:

Queenb71

Moneyineptitude wrote: »

The reason "time elapsed" has been put as the reason for not progressing further with your complaint is that the Banks typically do not keep records for longer than six years.

I don't know why you have wasted time looking for an E-Mail address, because you need to furnish the Bank with COPIES of the original documentation and you can only do this by regular mail. So get to that photocopier and then post off any evidence that you hold.

On a related note, a "tailored" protection policy implies that it was designed for your personal circumstances. If this is the case then you may find that the Bank will still not uphold your complaint as being mis-sold.

What reasons did you give for mis-selling?

Thanks for your reply.

I thought about scanning the docs and emailing to the worker in question, however I will now get copies of the original documents and send them via recorded delivery. I have health benefits cover, savings and also my employer pays out 6 months full pay if I am off sick. I also have family members that could help out if needed so I was securely covered so really did not need the ppi.

emmelou_2

I shall apologise now for the long post, i started my claiming process at the begining of April after finding this site.
I currently have 7 claims with Barclays for consolidated loans and front loaded ppi on all, 1 with Barclaycard my reason is i didnt ask for it and didnt require it same reason for my Egg cc and virgin cc. I have a claim for AA on a loan, my reason is i didnt know it was on didnt ask for it and front loaded same reason for my Lombard direct loan. I was just wondering if these reasons are generally successful and do you normally have to wait the full 8 weeks or do they respond before, it will be 5 weeks monday since complaints.Any replys would be great, its the longest 8 weeks ever. haha thanks in advance

bob69

amersall wrote: »

Just because the box was ticked does not mean this was not mis sold, use the reasons you stated and ask for the recording of the sale of this PPI of what was said by your wife at the sale of this PPI.

Ok thanks,will do.
Just one question though, are MBNA likely to still have a recording of a telephone application from 2001?

kjd35aqua

kirstym1 wrote: »

Hi all

quick question I have received a letter from HSBC saying that they will uphold my complaint on a credit card if I can prove how much they owe me as it is longer than 6 years ago and they no longer have the statements. I don't have any statements and am not sure what to do now.

Also the 8 week time limit on my complaint with Barclaycard was 2nd May and they sent me a letter saying that they haven't reached a decision yet and need more time to look into it. What are the rules now?

Thanks in anticipation x

i'm at same stage as you with barclaycard, same letter as you,and i've seen on here its the normal letter most are getting.
i phoned them and said i understood that they were getting loads of claims at moment,and was happy for them to have few weeks more to look into my case.(went for the friendly friendly approach).
few weeks went by,and still nothing,so changed approach to a "not very happy" one,and after a "polite" phone call,but a hint of taking them to court, two days later get letter saying sorry for your complaint,and your claim will be sorted by 31st of may.
so i would call them,be polite,but let them know how you will not be taken advantage of.
good luck in your claim.

amersall

Still_in_the_red wrote: »

Thanks so much for your reply. Not sure if Im missing the point though? I thought my loan was with First Plus. I unearthed an old redemtpion statement from when we paid off the loan and it was First Plus on the letterhead and no mention of any broker. Would First Plus have made the broker known to me?
Any thoughts on the HSBC query? Hopefully that one is more straightforward?

Regarding the HSBC mortgage, post here
http://forums.moneysavingexpert.com/forumdisplay.php?f=187
the guys on there can help you more with this.

If you ring FP they will tell you if the loan was with them or it was from someone else, you may pay the loan back to them but they may not have sold you this, this is purely down to the year.
If you have put this claim in already to FP then wait and see what they come back with.

amersall

bob69 wrote: »

Ok thanks,will do.
Just one question though, are MBNA likely to still have a recording of a telephone application from 2001?

Maybe not :D but ask for any proof of what was said, see what they come back with.