PPI Reclaiming Discussion Part 5

robb58

odd_socks wrote: »

I think you will be able claim but if you look on this site it will tell you all you need to know if you have a good reason to make a claim to get all of your PPI back

Thanks for the response odd socks - I've had a look but I couldn't see anything specific regarding extended company sickpay negating the need for ppi. I shall have another trawl....

meanwhile I think you need to lie down in darkened room to stop your brain hurtinglol

odd_socks

robb58 wrote: »

Thanks for the response odd socks - I've had a look but I couldn't see anything specific regarding extended company sickpay negating the need for ppi. I shall have another trawl....

meanwhile I think you need to lie down in darkened room to stop your brain hurtinglol

I think you would be able to claim because your work would pay you 26 weeks full pay, if i got that right

everyones claim is different,i claimed on one because the bank had pre ticked the PPi boxes on my policy and the bank said that i could not have the loan with out having PPi

Lie down you must be joking a mans's work is never done :rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Kuffs1978

Hi folks,
I didn't think I'd ever post again (guilty feet have got no rhythm.....no, hang on, that's a song lyric!) but as you may be able to tell, I'm in a bit of a cheeky mood and since this info may help some other folks on the forum, I'd appreciate a bit of guidance if possible please.
Basically we got to the stage where yesterday morning my sis made a further payment of £200 to GE Money and was subsequently informed that her repayments balance now stood at £13,234.20. That's just £25.50 short of what her loan agreement stated she should repay without the wretched PPI. However we've also had visits to our local C.A.B recently and were invited to visit them again yesterday, as even they were officially closed at 10am they would set aside a couple of hours especially for us so that they could see if they could help. To cut a long story short, their staff member decided a call to the FOS was in order, and we were amazed at how much more fortcoming the guy at the FOS was, and eager to help when it was the C.A.B. calling, even though we had been speaking to him personally for the last four months. Before our visit and when calling GE Money, something miraculous had happened; the person at GE was actually PLEASANT to speak to and she managed to explain how the loan and the PPI were completely separate. For all this time we had been going through each of the payments and deducting the cost of the PPI in order to calculate what had been paid. However, nobody had bothered to explain that basically when the loan was borrowed, the cost of the PPI was essentially placed into a separate account, accruing interest until such a time where it was called upon to be utilised. But as we all now know, there's a better chance of David Cameron telling the truth than anyone being able to use a PPI policy-and that's saying something! So it now made sense that even after the cancellation of the PPI the monthly payments remained the same.
However, what the C.A.B's discussion with the guy at the FOS did uncover-and this may be of some use to others who may have problems with Norton Finance/GE Money, was that it is GE MONEY who decide whether to grant a customer a loan, not Norton Finance. I raise this point because I've always maintained that considering the proof of income she was required to provide; a utilities bill, her award letter for disability living allowance, copies of her bank statements and a letter of self certification stating her level of income; I don't believe my sister should have been granted the loan in the first place. Her self-certified letter stated that her income was approximately £12,000 per year, which is what she receives through her disability benefits. The bank statements she sent illustrated that she was in receipt of these benefits, yet no high street lender would even think twice about lending anyone the money unless they were employed. She could have declared an annual income of £100,000 but have no proof on that income and they probably would have granted her the loan! Regardless of her actual level of income, I think the is irresponsible lending, and the guy at the FOS seems to think that we could prove the loan was mis-sold, as there is apparently a banking code of ethics or something, with certain criteria lenders must adhere to. Could anyone perhaps point us in the direction of where I might find this please? If there are any other posters who may be in a similar position it may be of some help to them too. At present we should feel like a weight has been lifted, as essentially the loan has been paid off in full. But (with the exception of the one lady I spoke to, who does appear to have a conscience) the cretins at GE Money aren't interested in what the FOS have decided regarding the PPI, so even thought it was mis-sold we have to continue repayments at the same level as before, and will be penalised to the tune of £40 each time anything less than £261.15 is paid (which the FOS says GE cannot do, but did they try telling them that? Nah! Of course not!) The FOS have suggested that if I can prove the loan was mis-sold GE may be willing to come to a settlement, and since I'm a bit like a dog with a bone at the moment I'm eager to find any way that I can make that happen. Any advice or even just links would be very much appreciated. Thanks.

amersall

mspotter wrote: »

Thanks!
I've just rang them and asked for a copy to be sent to my current address. Apparently their response was sent in feb 2009!!
I'll wait til i get the letter and see what it says bu do you think i have a hope in hell of this being upheld now after 3 years have passed??

They have already referred you to the response in 09 and have said that is the final response, see what the letter said when you get it, if you did not receive any money in 09 i think they rejected your claim.

Let me know what the letter says, if it was a rejection then the 6 months have passed for you to make them reconsider, did you ask on the phone what the letter said and explained that you moved house and did not receive this?.

amersall

odd_socks wrote: »

I am ok thankyou,hope everything is ok with you

thank you again for the reply,I only get to go on the net now and again.
The account was just in my name when i took out the loan but now the wife name has been added,so does that mean i will have to send £20 off for the SAR letter,i am going to send it off to see what comes back there might even be a loan number that i missed

My brain always hurts,it's because i am a man init :rotfl::rotfl:

Thanks again

XX

:rotfl: Wot u like? :D:D
Only £10 put both names on.

amersall

robb58 wrote: »

Thanks for the response odd socks - I've had a look but I couldn't see anything specific regarding extended company sickpay negating the need for ppi. I shall have another trawl....

meanwhile I think you need to lie down in darkened room to stop your brain hurtinglol

This is a given, you are proving you could make the ppi payment even if you were off sick.
Look here for reasons for mis sell and put the claim in!.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

amersall

Kuffs1978 wrote: »

Hi folks,
I didn't think I'd ever post again (guilty feet have got no rhythm.....no, hang on, that's a song lyric!) but as you may be able to tell, I'm in a bit of a cheeky mood and since this info may help some other folks on the forum, I'd appreciate a bit of guidance if possible please.
Basically we got to the stage where yesterday morning my sis made a further payment of £200 to GE Money and was subsequently informed that her repayments balance now stood at £13,234.20. That's just £25.50 short of what her loan agreement stated she should repay without the wretched PPI. However we've also had visits to our local C.A.B recently and were invited to visit them again yesterday, as even they were officially closed at 10am they would set aside a couple of hours especially for us so that they could see if they could help. To cut a long story short, their staff member decided a call to the FOS was in order, and we were amazed at how much more fortcoming the guy at the FOS was, and eager to help when it was the C.A.B. calling, even though we had been speaking to him personally for the last four months. Before our visit and when calling GE Money, something miraculous had happened; the person at GE was actually PLEASANT to speak to and she managed to explain how the loan and the PPI were completely separate. For all this time we had been going through each of the payments and deducting the cost of the PPI in order to calculate what had been paid. However, nobody had bothered to explain that basically when the loan was borrowed, the cost of the PPI was essentially placed into a separate account, accruing interest until such a time where it was called upon to be utilised. But as we all now know, there's a better chance of David Cameron telling the truth than anyone being able to use a PPI policy-and that's saying something! So it now made sense that even after the cancellation of the PPI the monthly payments remained the sameI did say this when i helped you before! maybe i did not explain this right?..
However, what the C.A.B's discussion with the guy at the FOS did uncover-and this may be of some use to others who may have problems with Norton Finance/GE Money, was that it is GE MONEY who decide whether to grant a customer a loan, not Norton Finance. I raise this point because I've always maintained that considering the proof of income she was required to provide; a utilities bill, her award letter for disability living allowance, copies of her bank statements and a letter of self certification stating her level of income; I don't believe my sister should have been granted the loan in the first place. Her self-certified letter stated that her income was approximately £12,000 per year, which is what she receives through her disability benefits. The bank statements she sent illustrated that she was in receipt of these benefits, yet no high street lender would even think twice about lending anyone the money unless they were employed. She could have declared an annual income of £100,000 but have no proof on that income and they probably would have granted her the loan! Regardless of her actual level of income, I think the is irresponsible lending, and the guy at the FOS seems to think that we could prove the loan was mis-sold, as there is apparently a banking code of ethics or something, with certain criteria lenders must adhere to. Could anyone perhaps point us in the direction of where I might find this please? If there are any other posters who may be in a similar position it may be of some help to them too. At present we should feel like a weight has been lifted, as essentially the loan has been paid off in full. But (with the exception of the one lady I spoke to, who does appear to have a conscience) the cretins at GE Money aren't interested in what the FOS have decided regarding the PPI, so even thought it was mis-sold we have to continue repayments at the same level as before, This is because you cancelled the ppi, with this type of loan (as i posted before) the ppi is still on the loan to term end with interestand will be penalised to the tune of £40 each time anything less than £261.15 is paid (which the FOS says GE cannot do, but did they try telling them that? Nah! Of course not!) The FOS have suggested that if I can prove the loan was mis-sold GE may be willing to come to a settlement, and since I'm a bit like a dog with a bone at the moment I'm eager to find any way that I can make that happen. Any advice or even just links would be very much appreciated. Thanks.

Hi Kuffs, (spelt your name right :rotfl:)at last you are getting somewhere with this.
I am surprised the FOS did not point you in the right direction with this mis sold loan route????? this is odd.

The only thing i can suggest is to ring the FSA see what they have to say.

http://www.fsa.gov.uk/consumerinformation/consumer_contact
they are open until 6.

amersall

angieyc wrote: »

Hi, I took out a mortgage in 1997 and was told I had to have a 'Life policy'. When I read it it provided cover for sickness,unemployment etc but not for those on fixed term contracts, which I was (12 months). Is this the same as a PPI? Do you think I can claim it back? It was a black horse estate agent financial advisor who sorted it all out and the Life Policy was with Black Horse. After a couple of years I cancelled it and don't have any paperwork although it is mentioned in one of the solicitors' letters I still have.
Any advice much appreciated, thanks

You need to post this here.
http://forums.moneysavingexpert.com/forumdisplay.php?f=187
The people on there know about mppi and can help you more.

Kuffs1978

amersall wrote: »

Hi Kuffs, (spelt your name right :rotfl:)at last you are getting somewhere with this.
I am surprised the FOS did not point you in the right direction with this mis sold loan route????? this is odd.

The only thing i can suggest is to ring the FSA see what they have to say.

http://www.fsa.gov.uk/consumerinformation/consumer_contact
they are open until 6.

Thanks. You probably did explain it before but with all the negative crap we've had to deal with to do with the PPI, as well as preparing ourselves to fight for my sister's DLA to be renewed, I probably forgot about what you'd said. It has to be said thought that through GE's admission that it is down to them whether the loan is authorised, surely that means that they are have some responsibility in saying whether the PPI should have been sold? I'm going need to keep digging I think.

boppy

HI
apologies now for a long hopefully cohert tread for some advice if poss.Have a feeling I have reached the end of the line with this

background

Secured loan taken out in 1999 with then first national bank the loan was arranged thru loan lineLtd and added PPI to loan as a single premium however it only covered first 5 years of a 15 year agreement.The loan was reedemed in 2001 and full PPI paid in settlement figure.

Action taken
After much reading and media info contacted reclaiming firm in 2008 who eventually allocated a solicitor to our case
Initially thought was statute barred which is why we took so long to act however solicitor disagreed .
I have contaced first national ( now GE) for SAR and they were able to supply me with statements showing payments made and the full and final settlement figure.....no other paperwork avaliable from them and us .
Went thru with solicitor on a CFA until sept 2010 who would only continue with our claim as a privet paying client as the firm felt under 50% success rate .

why

Ge deny liability stating they had not sold the Policy and therefore should direct our claim to loan line.
Obviously very dissapointed but at least we didn't have to pay out for solicitor and we do think they tried hard for us .

Next Step

Advised to contact fiancial ombudsman after further investigation FOS have reached a blank but hve a few suggestions which may just be useful.This was in July 2011
Sadly we have had a family member become seriosulu ill and pass away .....so have not really thought about PPI until now

Present

I appreciate we may well have left things too long now however would jsut like a final stab at reclaiming as it makes my blood boil that we have not been able to get anyway with GE

FOS advice

loanline notin 1999 covered by GISC or FOS however FOS states may be ableto pursue underwriter who provided policycover.

problem 1
unable to indentify underwriter but if we can just maybe we will get our money back which is approx 10k

I belive the underwriters used by 1st natioanl at the time and could be one of 3

• commercial union
• cardiff pinicle
• bennett gould

I am not quite sure how i came by this info as was last year but it is my writing so muct have phoned someone for this !!

OUTCOME

the options I can see are for me to

• give this up as a lost cause as too much time has passed
• Hope one of you may be able to help me ascertain the underwriter and maybe then i can continue my battle....with help
• listen to the advice from you all on here

Sorry for long email hope it makes sense and that someone can help me
Thanks