PPI Reclaiming Discussion Part 5

eeyore83 · 15 May 2012 at 9:24PM

Hi, looking for a bit of advice.

I bought a car from Arnold Clark & they financed it which I thought was from GE Capital. I paid £135 a month plus an extra £20 for PPI. I couldn't remember the date I took it out so checked out my credit report. I have found the loan details with the dates I took it out & when it was settled (it was settled just over a year early). However It says the loan was through Santander Consumer (UK) Plc. I have never banked with Santander. I don't have any copies of the loan agreement so I will need to request them. Do I send a letter to GE Capital or Santander?

Thanks in advance.

[Deleted User] · 15 May 2012 at 11:31PM

monsieurmoog wrote: »

In effect, I only paid PPI of £20 / month for twelve months so a total of £240. The claim paid out £430 to cover 82 days. In these circumstances is it even worth reclaiming?

I sincerely doubt you'll get anything back, they'll certainly subtract any payments they made to you when you claimed from any redress awarded.
What would be your reasons for mis-sale? You certainly couldn't say you didn't need it (you claimed on it), or that you didn't know you had it (you claimed on it).
Was the PPI front-loaded onto the loan?

di3004 · 16 May 2012 at 12:50AM

monsieurmoog wrote: »

Hey'up,

I'm pre-supposing that it my case it's a long shot without much reward but from what I gather it's worth a try. I just want to double check before I waste my time...

I was mis-sold PPI on a graduate loan from Barclays in 2003 but only a year later I ended up claiming on it due to a dispute with my employer that ended with me leaving the company and being signed off work for several months. I didn't get anywhere near what I'd hoped from the claim and then I ended up defaulting shortly after that. The agreement was terminated and I was forced to take a resolve loan with a punitive rate of 15.9% apr.

In effect, I only paid PPI of £20 / month for twelve months so a total of £240. The claim paid out £430 to cover 82 days. In these circumstances is it even worth reclaiming?

Thanks in advance.

Yes definately, you can still make a reclaiming complaint on what you have actually paid, even if it was stopped later on, from what I am aware of, even on a default, the ppi is still included on the loan balance unless the ppi was specifically cancelled by yourself.

Do complete the reclaim questionnaire, send to the business who set up the account, keep a copy for yourself as well, good luck, and remember they should also pay you interest as well, it surprisingly adds up.

Good luck.;)

di3004 · 16 May 2012 at 12:54AM

In_a_state wrote: »

Hi Guys

I'm not sure were I stand with this one.

I was missold PPI when taking out a first plus loan (through HFS Loans). At the time of the loan application I was told that I wasn't able to get the loan without taking out the PPI..I remember discussing it with my now wife back then in 2002.

I first sent my complaint, including the details why I was complaining, to first plus who then forwarded it to Capital One.

I received an acknowledgement from both first plus, stating they had forwarded it to Capital One and also Capital One who stated they had received my complaint.

I then waited for the outcome.

Today I received a letter from Capital One stating that first plus didn't provide them with the details of why I was complaining!! And therefore their own investigation proved that I wasn't missold PPI.

I'm a little preturbed about this as I was at least expecting my complaint to be forwarded fully and be dealt with accordingly but now it seems the first pus have scuppered my claim for a refund by not correctly forwarding my competed questionnaire form.

So where do I go now? FOS or do I send Capital One my original complaint....All advice welcome.

BTW FP Loan was for £30,000 with PPI of £7,347.

This was settled in late 2010.

Hi

Reading this, if it was HFS who arranged and completed your application form, you would normally pursue them, but is it because Cap one are dealing with their complaints now?

I would otherwise do as Cappo suggest, write back again, but insist you were mis sold and you want them to look into your complaint as you feel this case have been overlooked.
Do not give up, the final decision they should enclose details of the FOS.

Good luck.

di3004 · 16 May 2012 at 12:57AM

eeyore83 wrote: »

Hi, looking for a bit of advice.

I bought a car from Arnold Clark & they financed it which I thought was from GE Capital. I paid £135 a month plus an extra £20 for PPI. I couldn't remember the date I took it out so checked out my credit report. I have found the loan details with the dates I took it out & when it was settled (it was settled just over a year early). However It says the loan was through Santander Consumer (UK) Plc. I have never banked with Santander. I don't have any copies of the loan agreement so I will need to request them. Do I send a letter to GE Capital or Santander?

Thanks in advance.

Hi

The ones you pursue are the ones who arranged it, and completed the application form, if you used them to complete the form for the finance, then you write to them.
Although you may find the main of the paperwork would be that of the lender's, this can confuse people. The ones who arrange it generally pass all the details, application etc on to the lender who debits the monthly repayments.

I would write to the ones who sold you the finance, see where this takes you, please keep us posted, fingers crossed.:)

Jamesmprint · 16 May 2012 at 9:12AM

Hi All

What is the next step after not receiving any sort of reply from HFC bank 8 weeks after sending my PPI form to them. It was sent recorded and was received.

Do I need to ring them or do I go straight on the FOS?

Many Thanks as always

Kugakt · 16 May 2012 at 9:22AM

amersall wrote: »

For PPI that was attached to the Mortgage, you need to post your question here

They know more about this and can help you more, just to let you know, they are a bit "to the point" but don't take offence because they know what they are talking about, if you can claim for mis sell then you go to the company, as they sold you the Insurance, if you can claim and you win then any money that you claimed will be taken back, this can sometimes result in you winning but getting nothing back as the claim was more than the PPI amount.

Thank You, sorry for posting wrong place.

cappo · 16 May 2012 at 9:34AM

Jamesmprint wrote: »

Hi All

What is the next step after not receiving any sort of reply from HFC bank 8 weeks after sending my PPI form to them. It was sent recorded and was received.

Do I need to ring them or do I go straight on the FOS?

Many Thanks as always

Hi james personally i would call them, the wait at the fos is a year now and thats for fast tracking give them a try on the phone again.

phoebe2012 · 16 May 2012 at 10:08AM

Hi not sure if anyone can advise me on this but here goes. I was paying ppi to next on their store card. I put a claim for in to them which i have had a reply stating they are not regulated by FSA so the rules don't apply ro them. They have confirmed i have been paying ppi since 1997 until they stopped it a couple of months ago. Any advice please.

lamarsi · 16 May 2012 at 10:47AM

hmmm, bitter sweet response from egg, had two cc with them, one from 2000 and one from 2005, received a letter a couple of weeks ago on the one from 2000 saying it wasn't miss sold then one today from 2005 saying that was.... what the?? both sold in same way, on line with pre-ticket boxes and I didn't know about either, I had a period of illness for 6 months in 2006 and would have claimed on them if I had known, anyway of to fos with first one I go!!! but so far claimed just over 7k claimed back in total!!!!