PPI Reclaiming Discussion Part 5

I_am_dreaming

Hi

Could one of you lovely people please confirm if I am right in thinking here or not. I have just started to sort out all the PPI reclaiming for my partner.

He took an unsecured loan out in 1999. Here are all the numbers from the agreement:

Loan £5,800
add total charge for credit for loan £1,576.04
Total amount you pay for cash loan £7,376.04
Insurance loan (cash price of insurance) £917.35
add total charge for credit for insurance loan £249.41
Total amount you pay for insurance loan £1,166.76

You have to pay the total loan and interest by 42 monthly payments of 203.40. We will divide your monthly payments between the loan and the insurance loan in the same proportions as they bear to the total loan

I guess the insurance loan (917.35) + charge for it (£249.41) is the PPI part I could be claiming for? Please correct me if I am wrong.

And than would you call this a Single Payment (front-loaded) PPI?

I would be greatful if one of you could let me know if I am correct or not.
Thank you.

gramochroi

Hi, I have been a customer of HSBC since the mid '80s and had various loans with them. I wrote recently and asked for repayment of PPI and they offered me £300, saying they only had records for past six years, but if I could find statements going back further they would review.

At the end of 2003, I was made redundant and became very ill shortly afterwards, finances and everything else all over the place. I had also moved home twice since then, so was not very hopeful of finding anything. Thank God for my ex, who when I went to discuss with him produced a drawer full of statements, loan agreements, etc going back to 1995, copies of which I have now sent off to the bank.

The strangest part of this is that the bank was still charging me for PPI in February 2006. They knew (and I can prove it) since at least February 2004 that I was unemployed. As far as I can make out, they were also still taking the loan amount each month?

Am I going mad????

Octonut

Octonut wrote: »

I sent questionnaires out at the end of March. Barclaycard signed for theirs on the 4th April and Capital One's is still unsigned for.

I have been chasing Barclaycard and have been fobbed off everytime with: it will go on the system in ten days; today; five days; today or tomorrow. I have phoned them up again today and it is still not active and will be "today or tomorrow" and I will hear within 8 weeks, even though this is the 7th week they've had my complaint.

I resent my Capital One questionnaire and I received two letters, a day apart, and the first one indicated to me that they had my original letter as they speak about their sadness that I have had to contact them again. I spoke to one of their managers today who gets top marks for being patronising.

What's the point in the FOS giving deadlines if they know they can ignore them? It really cheeses me off. I hope I get enough to clear my balance on both and tell them to stick their bloody cards. :mad:

Well, I phoned Barclaycard today as I had still not received an acknowledgement for my questionnaire received on the 4th April and the 8 weeks is just about due up. I spoke to my 5th helpline person and explained the problem and she said looked on the system, using all the information I had given the other people, and said that my acknowledgement letter was posted on the 5th April, gave me my reference number and said that I should either get a decision on the 1st June or a letter requesting more time!

Unbelievable! Why no-one else could have told me this, I don't know.

[Deleted User]

gramochroi wrote: »

The strangest part of this is that the bank was still charging me for PPI in February 2006. They knew (and I can prove it) since at least February 2004 that I was unemployed. As far as I can make out, they were also still taking the loan amount each month?

I'm afraid PPI wasn't set up to automatically pay out in the event of redundancy. Like many other insurances, you would have had to personally make a claim on your policy. As you didn't, the Bank continued to take PPI.
I think any complaint about this would be met with the response that you would/should have seen these amounts leaving your account each month on your statement. Saying you became too "ill" to look at your accounts doesn't really add substance to any potential complaint.
Good luck with the extra statements you've sent to the Bank, I hope they lead to a large increase in the redress HSBC offers you as a result.

amersall

kmp80 wrote: »

Hi
I am hoping you fantastic people can help me out i am looking to claim back ppi, i had a loan from a company called (at the time) Capital Bank (not to be confused with Capital one) this is 13/14 years ago I had a £1000 loan and paid back £2600!! I was young and very stupid, i had the gold ppi cover as i was advised to do.
The company is no longer in existence I believe how do I found out who took over of if the company has been renamed?. I have no paper work at all as this was so long ago, I just dont know where to start but dont want to not do anything at all as I believe surely I should be due something back. Thank you so much for any help or advice that can be offered.

I also did have PPI I believe for a settee I purchased from DFS years ago (which I have proof of the payment to Black Horse for) I am not sure if this is relevant, where should I start?, I feel if I just phone and ask they may say they have no record or just say there was no ppi thank you.. xxxx

If you have the account number and reasons for mis sell with DFS, then put the claim, I posted the address on your other post.

I answered your other post with ref to the Capital Bank Loan.

amersall

Brob wrote: »

I've bought my car through honda finance and ppi has been stuck in with that.

Looking through the documentation and the PPI is underwritten by Lloyds TSB just wondering who I would claim with Honda or Lloyds?

thnaks

It is Honda Finance, as they sold you the Loan and PPI.

amersall

Griffta wrote: »

hi I have paid for a Personal Accident Protection Plan on my Goldfish Credit card for years and have no idea how I got this plan. Can I reclaim as this is not a normal PPI? Does anyone know?
Thanks

I would think that if you could pay the card back if you had an accident (you would need to find out what exactly this Insurance covered you for ) then I would say that you could make a claim, ring them up and ask for the conditions of this insurance and then take it from there.

amersall

ZeroGravitas wrote: »

Hello there.

I’ve been stalking this forum for a while now, and the fantastic advice I’ve read gave me the confidence to make my own PPI claims (4 in total) a few weeks ago. My first response has arrived and it’s a flat rejection, so I’m hoping that some of you excellent people can advise me further.

It’s Capital One’s CC PPI. I took it out in 2001 with the card and thought nothing of it until recently. I made my complaint on the basis that I had all of: 6 months’ full, 6 months’ half salary sickness absence; at least 6 months’ salary in redundancy; more than 2-times’ salary death in service benefit. Reading on this thread, I get the impression that this is one of the stronger reasons for success. The rejection letter has taken 4 weeks of the 8, and it looks like a fairly standard effort – “applied purely on your request”; “no representative involved”; “30-day cooling off period”; “full policy document provided”, etc. Then there’s the crucial bit – “you checked the box”. They sent a copy of the application form and, sure enough, there’s the tick.

From reading the excellent advice given here, am I right to think that ticking the box is not necessarily the end of the matter? Surely it doesn’t negate the fact that they signed me up to a PPI scheme that I could never claim on because of the workplace benefits I already had? Isn’t that the definition of a mis-sell? Is that a fair summary? I realise that I have the option to go to the FSO, but I rather avoid that given the massive waiting time involved. I’d prefer to respond to Capital One with a clear argument (although I did explain this in the original complaint proforma and they have described this as their “final response”. I’m a bit worried now because I thought I had a strong case, and I’m concerned that my other complaints might go the same way.

Thank you very much for reading.

As this is the final response, you will have to take this to FOS now, just reiterate the reasons you gave for having no need of this PPI so why would you have taken this.

oakshot

Hi all,

This is my first post on MSE so hoping for some advice!

I sent a written requested to MINT for a copy of the credit agreement/term & conditions of a credit card account I had between 2004 & 2006, which I believe I paid PPI on.

They have replied saying, “that as the account was fully paid up in 2006 they have no obligations to provide this information”. What should I do next!

I also had a mortgage account with Northern Rock between 1992 & 2008. I feel sure I paid PPI but have no paperwork to prove this. What would be the best way of finding out whether I did or did not pay PPI?

gramochroi

Thanks Moneyineptitude for your response. I must have made a claim because I have a letter dated February 2004 giving me a partial refund of the loan, but nothing since. That time is so vague, I'm totally mystified what happened.