PPI Reclaiming Discussion Part 5

amersall

geraldo7111 wrote: »

Morning All

Please can someone advise me of my options as I am getting lost

I have started a claim with the RBS on my miss Sold PPI , I have since had a letter back to say they are not liable as it was sold by a 3rd party broker who was working on their behalf. The broker has been out of business now for about 7 years.
I was informed at the time of taking the Mortgage and the PPI that the agent was working as an agent of RBS

Any advise would be most welcome

Post your question here
http://forums.moneysavingexpert.com/forumdisplay.php?f=187
They know more regarding Mortgage PPI.

amersall

dolphingazer wrote: »

Hi amersall, moneyineptitude, di and cappo,

I have posted on the successes forum yesterday and I really don't want you to miss what I have written:D:D:D:D:D

Please take a look.

:p:p As if we would miss it

amersall

house5 wrote: »

A loan taken out then defaulted on due to not being able to claim on Ppi that we was told we had to have on a £12000 loan we were taken to court for a total of £16600 including interest and I presume charges. The judge said we had to repay the debt at £10 per week and we did from August 2000 until about 18mths ago we moved banks and after several weeks realised the direct debut had not been paid but then instead of them asking us or telling us that the payments had stopped they sent it straight to a dept collector who then said due to the missed payment about 14 by now the we're entitled to now collect the balance of £12200. We explained we did come to an arrangement but now the RBS have rang and said they agree with our claim even though the loan was taken out in 1997 and are prepared to wipe out the debt left £12200 we think is this to save them some money as if we don't accept it they would owe us more anyone know it has been 15yrs since it was taken out the debt was still outstanding because they took us to court for something they sold us and we couldn't claim on it. Help help do we accept it anyone know the answer.

What was the original PPI amount? this is how you will know if the are trying to get out of paying you more.

When they redress the loan they will take off the whole PPI, this reduces the balance that you owe them anyway, as this was not paid back at the correct payment for several years, you will not have paid the whole PPI anyway.

Ask them what you will actually owe to the loan after the whole PPI amount has been taken off the balance, this will reduce the amount that you actually owe them anyway, get the calculations of what the offer consists of and are they paying you the 8%, tell them when you have these figures you will consider the offer that they have made.

amersall

yorkletts wrote: »

Don't know if this is the right place for this post, but I seem to have hit a brick wall before I've got started.

I sent an initial enquiry letter to Cedar Holdings with my £1 cheque on the 2nd June. It went recorded delivery to this address
DoName & Registered Office:
CEDAR HOLDINGS LIMITED
25 GRESHAM STREET
LONDON
EC2V 7HN
Company No. 00606795
According to Royal Mail tracking it still hasn't been delivered. I've sent Royal Mail an email enquiry with no reply as yet. My question to you all in the hope that someone knows is if my letter is being refused what else can I do?

This company may not exist any more and if the product that you need the info for is closed, they do not have to provide you with anything for the £1 request if you could find them.

What is this in connection with?.

amersall

laragh wrote: »

Hi, not sure if this is the right thread! Posted off the Questionnaire to Barclays last week for my husband. He had a Barclays loan around 1996 then consolidated it a few times (still with Barclays) over the next six or so years, he was told by the Advisor in branch that he had to take the PPI or he would not be accepted for the loan. He has no details of the loans just his Barclays current account number and sort code that they used to set the loan up from and make the monthly payments etc..... Do you think this was too long a shot or was worth me sending the paperwork?!

If they can find you they will look at the loans, see what they come back with.

amersall

RSMullins wrote: »

Hello, I'm hoping someone can help me!
I recently sent a PPI complaint to Lloyds TBS as I had PPI on a loan that I have never used. The loan is now paid off and the reason I am complaining is because at the time of sale the advisor told me that the PPI was part of the loan and in order to be accepted I had to take out the insurance. I was new to the loan process at the time and basically just said yes, ticked all the boxes and away I went.

So I sent my complaint and Lloyds have just got back to me saying that they do not believe I have a complaint because the insurance was suitable for my needs and that my policy documentation says that the PPI was optional. This wasn't my point though - my point is that it was the Sales Advisor themselves that misold the policy.

I'm looking to take this to the Ombudsman but not sure of the best way to go about it. Do I even have a case after what Lloyds are saying??!

Thanks!

This could have been Single Premium PPI, do you have the agreement and is this a final response from them?.

amersall

Sgt50a wrote: »

Good afternoon all, first post to get some feedback hopefully.
Just had my 'Dear John' from MBNA knocking back my claim for unwanted PPI on a credit card since Aug 1994. I have already filled out the questionnaire for the Ombudsman. Just wondering is this the correct next step and has anyone here had any experience with MBNA. Many thanks

If it is not a final response from MBNA write back and show that you had no need of this PPI you have to show that you could have paid this card back if the worst should happen.

If it is a final response, put it into FOS with the same reasons and a copy of the rejection letter from MBNA.

amersall

Woody's_Girl wrote: »

Hi all, I sent off a letter to Natwest regarding a loan my husband had back in the early 90's, he remembers is clearly because he was a 18 year old who really couldn't afford the extra payment in addition to the loan but was told he had to take it, unfortunately we had no paperwork.

Anyway, I was clearing some things out today and found his bank statement dated 1996 which was the statement when he had the loan

*PLP premium* £624
Loan amount £4000

so I'm assuming it's the personal loan protection premium added to the loan and then paid monthly.

Obviously the loan has been paid off but i'm just wondering if a copy of that statement sent to RBS (who wrote to say they are dealing with it) would be good enough for us to be successful and how much we are likely to get back if it is.

Any thoughts would be great, trying not to get too excited but can't help myself!!

If you have the account number ( send copies of the amounts from the bank statements that you have ) to Natwest, use the Single Premium as the reason for mis sell.

amersall

Beabird wrote: »

I'm hoping for some help!
I had a loan six years ago with GE Money and it was taken out via a broker Linworth Drew Finance. This broker is no longer trading! When i did the application i was advised that i had to take out the PPI in order to get the loan, i wasn't given a choice!

I have made a successful claim back on another loan, so wrote to GE Money requesting a refund in full, along with interest. They have written back advising they won't refund me as they didn't sell me the loan and advising me to contact the administrators for the company or the Ombudsman.

I have tried contacting the ombudsman, but as yet haven't been able to speak to anyone.

Any advice on how to move this forward would be greatly appreciated

Contact the FSCS, they may be able to help you with this.

http://www.fscs.org.uk/contact-us/

debtfreebie

Hi all Below my case against First Plus below

Received letter from Central Capital which has 'partially upheld' our complaint and also enclosed disc of conversation not listened to yet as need to ring for password
AMount of ppi £7347 which with interest = £10543.20
Loan taken 14/12/05 settled July 07
to cut a long letter short
our points of objection
Point 1 not aware of ppi
point 2 ppi not aware upfront premium
point 3 claim we had sufficient insurance cover
point 4 pressured into taking ppi
point 5 single premium not suitable as did not offer proportional rebate
point 6 cancellation conditions not explained
point 7 not aware ppi was single premium beleiving it was paid monthly

Their response
Point 1 - not upheld cd apparently states ppi was discussed
point 2 & 7 not upheld verbally advised was a single premium
point 3 i advised we had PHI but when asked if sufficient responded 'probably not' , however existing life insurance element was sufficient and this part of complaint has been upheld
point 4 not upheld claiming at no point was ppi a condition of loan (this i accept but it was implied and suggested that it would help the application)
point 5 & 6 restrictive cancellation policy as loan settled before 5 year period we ended paying for something not used upheld

Their offer is to reschedule life insurance element in full and offer a proportionate rebate plus 8% interest on the single ASU policy from when the policy was cancelled.
The eight week deadline is 16th July and they 'hope' to be in a position to issue detailed offer and they are approaching lender for more info


So some progress but not listened to cd yet but i still do not recall that the single premium element being added upfront to the loan was highlighted and the documents sent split it out as if it was a separate policy.

Again any ideas from those that know more than me would be appreciated for example how do i know if the split for life insurance to ASU is fair and correct, do i still have a reasonable claim for the amount in full as i still maintain that the upfront premium added to loan was not made clear.
Its all a question of interpretation of the cd i guess
based on the figures what would we expect to reclaim (the other half is already poring over new kitchen brochures )