PPI Reclaiming Discussion Part 5

mlsmith

can anyone help me and tell me if a m.m.s insurance premium is the same as ppi?

I bought a car on finance in 2005 and was contacted by a company a few weeks ago to say there was a good chance i was mis sold ppi. I decided to chase it up myself and wrote to G E Capital who had financed my car. I recieved a letter today from santander saying they found no ppi sold for the agreement no i gave them but i have checked my bank statements for the 5 years my loan was taken over and every month there was a m.m.s insurance premium taken seperately from my bank.

any help on this would be much appreciated

welshlady62

If I win my ppi claim, does anybody know how I am likely to recieve the money? My loan is still active, the ppi ran out last year. The claim is against Picture via FSCS.

ekoforshow

amersall wrote: »

This may have been opt out of ppi, you do not need the agreement as this may not show ppi as it could have been added at later date, you need to do a Sar letter, enclose £10 and give them 40 days to respond, this will have the agreement if you want to see the tick box.


Thanks for your response amersall, I sent a Sar letter (with accompanying £10 cheque) and this was how I received copies of my statements showing PPI from the onset of the credit card statement. I must admit the Sar letter I sent (template from another link on this website) was not as comprehensive as the link you have provided, as such Egg only sent the statements and nothing else. They have sent me a response to my complaint (enclosing statements showing PPI) stating that they aim to resolve my issue within 8 weeks and enclosed the standard questionnaire for me to fill and return.


My question now is, is there a way to get further information (such as the original application showing tick-box or not) or will this prejudice their "investigation". I am minded to fill out the form with the information that I have to hand and decide that I did not know that I could refuse PPI as at the time, it was normally pushed so hard that I would have felt pressurized into taking it so that I would not be rejected the card. If it was a pre-ticked box, I know that I would have left it ticked for this reason (as I had done with the fliers that you got in the papers at that time)

jnrcop

Hi everyone,!
I've now received a reply from capital !one admitting that they'd mis sold me ppi on a credit card which is now paid off and closed. I agree with the amount of the premiums paid over the period but I was wondering if someone could advise me about the calculation of redress and the subsequent addition of interest or if someone could point me in the direction of a decent calculator or spreadsheet etc. I appreciate it's not the most simple thing. Any help would be appreciated.!

Ben

malamutesamoyed

amersall wrote: »

You are welcome x If you had the cash back, your redress would be less!, you have the full redress as per FOS the premium is given back with the 8% and the loan reset, there is nothing else they can give you, the main thing is the whole ppi is off the loan and will save you thousands of pounds over the remaining term of the loan in interest alone.
Did you read the post dilus made regarding this? they have calculated this right, they will not want you to go to FOS, so they will not hoodwink you.

To armersel and dilus,
Thanks for your input it's been great.

Just one more question for you; when the payouts get done will this then mean that my loan payments will now be less as there will be ppi on the loan?

katiecoulson

i have now just written my letter to tesco to get back my mis-sold ppi on 4 loans i have had with them over the last 8 years. Fingers crossed!!!

[Deleted User]

malamutesamoyed wrote: »

Just one more question for you; when the payouts get done will this then mean that my loan payments will now be less as there will be (no) ppi on the loan?

Yes, your loan will be reworked and you should be paying substantially less per month.
You may want to consider paying off the loan completely, if you can afford it, in which case you'll have a whole lot more ready cash available to you.

katiecoulson

amersall wrote: »

You get the ppi monthly amount that you paid to date of cancellation back and the remainder of the ppi back that was still on the loan if you cancelled after the 30 days allowed, when you cancelled this, did they reset the loan to change the monthly payment?.

thanks and i think they did but im not 100% sure...should they have?

[Deleted User]

katiecoulson wrote: »

thanks and i think they did but im not 100% sure...should they have?

Absolutely.

debsmayne1981

hi

does anybody know how i can claim ppi from dorothy perkins? i have none of the paperwork whatsoever and it was a few years ago when i took out the store card? i also have no account number for it or anything that i can remember as i shredded al the info?? ur help is much appreciated