PPI Reclaiming Discussion Part 5

givenupwork

Amersall -

No apology needed, ask all you need to know.
Was the PPI on this Loan paid in with the monthly Loan payment and what year did you take this out?.

Thank you for your reply that gives us hope to go on.

This is the only problem with my claim it was May 1999!! But the pleadings to get that loan when we were absolutely desperate have remained in our minds. It was made very clear that getting the loan was conditional on us taking out the insurance. We have detailed all this in the questionnaire provided on this site.

BTW - do I have to tell them how much I expect back. The insurance came to £3966.73 with £3096.00 for interest on this. It was paid in monthly installments. We settled one year and a bit early with an overall rebate of £529 which would have included the interest on the main loan which was substantial for those days. The loan was used to a small extent to pay off a previous loan with HFC (which I do not recall taking out any insurance for). We tried during the life of the loan to cancel the insurance but were repeatedly told no.

dolphingazer

littlepip wrote: »

Hi Newbie here who feels really stupid!

Rang my bank today to ask for some info regarding my previous loans. They told me to ring another number as they did not have my records at the branch as my loans had been settled in 2010. I then rang a number they gave me which was the complaints dept set up to deal with PPI.

The woman I spoke to confirmed I had had PPI on all 3 of my previous loans dating back to 2005 and that I had a single premium policy on all the loans. ( I paid one single payment to the bank each month for the loan) The original loan was for £1500 the other 4 loans where taken to consolidate or re-finance? the 2nd loan was for £3700 and the 3rd for £7750. 4th loan just £700 added as she put it?. She then explained to me that as I had paid the loan off early (NOV 2010)the settlement figure included any monies owing to me in relation to PPI and therefore they had already refunded me any monies that I might have been due to me.
I feel a bit stupid now. I thought I may of had some compensation coming my way?

Hi littlepip,
you are certainly NOT stupid. This ppi stuff is really hard to understand:huh:

Im sure amersall will be along in a bit to explain whether you were given correct information about your loans and settlement and refund of ppi

amersall

DJKris2010 wrote: »

She said it was to cover me if I was sick, or out of work and unable to make payments. She was very pushy with it.

Put a complaint into Vanquis regarding this,when they respond send it to FOS, they have a damn cheek, do they never learn the lesson?.

amersall

BTW - do I have to tell them how much I expect back. The insurance came to £3966.73 with £3096.00 for interest on this. It was paid in monthly installments. We settled one year and a bit early with an overall rebate of £529 which would have included the interest on the main loan which was substantial for those days.

They work the amount out if you win, did you pay the PPI as a single payment and then another for the Loan?.

amersall

littlepip wrote: »

Hi Newbie here who feels really stupid!

Rang my bank today to ask for some info regarding my previous loans. They told me to ring another number as they did not have my records at the branch as my loans had been settled in 2010. I then rang a number they gave me which was the complaints dept set up to deal with PPI.

The woman I spoke to confirmed I had had PPI on all 3 of my previous loans dating back to 2005 and that I had a single premium policy on all the loans. ( I paid one single payment to the bank each month for the loan) The original loan was for £1500 the other 4 loans where taken to consolidate or re-finance? the 2nd loan was for £3700 and the 3rd for £7750. 4th loan just £700 added as she put it?. She then explained to me that as I had paid the loan off early (NOV 2010)the settlement figure included any monies owing to me in relation to PPI and therefore they had already refunded me any monies that I might have been due to me.
I feel a bit stupid now. I thought I may of had some compensation coming my way?

What a load of old tosh.

Put complaints in for all the Loans, use the Single Premium PPI as the reason.
This was a loan on the loan paid to term end with interest, if you cancelled the PPI they would have given you a pro rata rebate of the PPI and the remaining PPI is still on the loan to term end.

If you settled this loan early then, as above you, would have a pro rata rebate and you would have paid back the remaining PPI in with the settlement figure.


The first Loan PPI would have given you a rebate of PPI, JUST FOR THAT LOAN the remaining PPI went onto the second Loan, the same with the others too.
If you win redress you will get the whole PPI amounts back for ALL the Loans, less the rebates they gave you, they would not have given you all the PPI back on all those Loans with the settlement of the last one.

MandyL.Bristol

Anyone any ideas how to kick Lloyds Bank into paying out PPI? They sent me a letter in August last year with an offer of payment. I still have not received it and they now say that as my claim went in before the 28 days rule then I will have to wait until they can slott my claim in among the ones they have to deal with legally first! This makes no sense to me and is becoming very frustrating as every time I ring they say they hope the money will be there in about 10 days! All they do is promise to chase it and advise me there is noone who can take ownership of my claim and get it sorted!!
Help
Mandy

amersall

Send a complaint to FOS, they should have paid you by now.

billyadvice

I believe I was mis-sold ppi on a few accounts.
I am now in receipt of income support, housing benefit and carers allowance. How will my benefits be affected if I am successful with my claim?
Will my lump sum be classed as earnings in the same way as if I had a job ? If so , for example if my claim was for £5,000 would this be worked out as earnings for the 12 month period april 2012 - april 2013

OR would it be classed as earnings for that particular week, then if the following week if I used it all to pay off outstanding debts, then would my income support amount be unchanged.


I hope I have explained it well, I am a bit confused and wonder if it is worth claiming at all ?

julie61_2

First, you should checkout the benefits website. If you have savings over a certain amount then it will affect your benefits claim, so be careful as to how much PPI you are entitled to.

billyadvice

I would also like to mention that in a few months time there is a possibility that I could be moving into the home of the person for whom I am a carer.
If this is the case I will no longer need to claim housing benefit, because I will no longer be liable to pay rent or council tax.

My question is should I delay making a claim for mis-sold ppi until I move out of my expensive home ?