PPI Reclaiming Discussion Part 5

amersall

givenupwork wrote: »

HFC have now replied saying they are unable to uphold the complaint. They go on to say they previously advised that PPI details for the account number were no longer available on the system, that they had asked for Bank Statements/HFC Statements showing all payments made to this account. It is very important that you provide proof of all payments and as they have not received the documentation requested, they have been unable to investigate any further. They go on to tell me about FOS.

So I'm now going to go on the site with the guide to PPIs to find out how I progress to FOS.

I had the agreement, a letter confirming an early settlement figure and a receipt of same amount stating account was clear and closed. I think this is sufficient proof of payment.

Any tips on my further journey along the PPI reclaim line?

On the settlement figure paperwork does it state the early settlement rebate for the PPI?, they need to see this figure to show that you had the PPI on the account from the start date to the settlement date.
Just send the complaint into FOS just as you did with the bank, put copies of all the letters that you have and tell them you were mis sold this PPI and would like them to reconsider the rejection due to the fact that you have the agreement and the settlement figures, did you use the Single Premium reason for the mis sell initially? if you did then put that to the FOS.

amersall

Malibu27 wrote: »

How can you tell from your bank loan agreement if you werepaying a single premium PPI? I took out a loan for £5,000 (for 5 years) and waspaying £140.00 (approx) a month for the loan and £49.50 per month for PPI.Therefore around £190.00 was coming out of my account for the two. I should begrateful if someone could kindly explain what this fronted/ single premium PPImeans, in simple terms would be much appreciated J . Thanks

All it means is the PPI is in effect another loan, this is put on the loan at the start date and you pay this back over the term with interest added.
This shows on the agreement as PPI and when totalled, gives you the monthly payment to the loan that includes the PPI, if you made a separate payment to the loan alongside the PPI payment, this is not Single Premium.

With the Single Premium PPI, 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.

If you paid the PPI on its own each month you would have been able to cancel this with no penalty at any month that you choose to, the PPI payments would then stop for the remaining term of the loan.

american_bulldog

dolphingazer wrote: »

Phew!!
Thank goodness it wasn't you:) I had visions of your win going into someone elses pocket:eek:

still can't believe it think it will become real when the cheque hits the mat

ineedsumadvice

vicki84 wrote: »

Congratulations on your win can I ask what the reasons of miss sell you used?

i rang up asking them to check my credit card details to see if i had paid anything.i explained that i wasnt aware of the ppi and at no point asked for it.they then wrote to me with to say that they agreed with my complaint.

dolphingazer

american_bulldog wrote: »

still can't believe it think it will become real when the cheque hits the mat

I know how you feel, it's like limbo land.

It's kinda:D:eek::D:eek::D

I think we will both receive them at the same time.

amersall

dolphingazer wrote: »

I know how you feel, it's like limbo land.

It's kinda:D:eek::D:eek::D

I think we will both receive them at the same time.

:p Don't forget my bill :rotfl::rotfl:

dolphingazer

amersall wrote: »

:p Don't forget my bill :rotfl::rotfl:

You haven't invoiced me yet:p:p

ineedsumadvice

called halifax on 6th june re a letter from them advising me i had no complaint re the ppi...they told me that i had signed a credit agreement which had on it details of the ppi...when i spoke to the lad on the phone i told him that when i got my halifax credit card i was in the branch putting money in my account when i was told i qualifed for the card then rushed to an office to sign the credit agreement..nothing about the ppi was pointed out and infact the lady in the branch had crossed where i had to sign and told me my credit amount and that i would need to wait 7 days for card to come through the post.
i then asked for them to look into my claim again... the first time i put the complaint to them they took just 3 weeks to come back with a no.
i called them today for an update as the 8 weeks is soon coming to and end and they have told me they are still looking into it....shall i wait for them to come back to me again or shall i go straight to FO?

hotrod21

Hi. When I took my mortgage out, I was told by the mortgage broker that his advice would cost us money. However, he would give us the advice for 'free' if we took out PPI through him (through Legal & General). I questioned the need at the time because both of us buyers work for the NHS & have done for 11 & 14 years.
He said that his fee would be quite high if we didn't. We have paid this for 5 years now (the length of our fixed-rate term) & a colleague recently told me they had successfully reclaimed theirs as NHS employees should require this level of cover. Can anyone advise on whether we stand a chance of reclaiming? If so, who do we claim from? Legal & General? The mortgage provider? The broker?
Many thanks for any help.

Malibu27

Thanks Amersall. So, I’ve had a look at my loan agreement and it appears that I have been paying interest on my PPI. So £197.80 came out each month for the loan and that was a breakdown of £49.61 (PPI) & £148.149 (loan). It says on my agreement that I was paying interest at 16.70% for the PPI. Does this mean I can complain? Is this classed as front loaded PPI? Really sorry for the daft questions, but I don’t understand it and I don’t want to go to a claims company when I can try myself J