PPI Reclaiming Discussion Part 5

[Deleted User]

Mike075 wrote: »

I was told this in a one to one meeting and so it's my word against theirs!

Yes, yours is a hearsay complaint which, on it's own, is very weak.
Did you pay a single monthly premium for both your loan and PPI? If so, this is front loaded and is the most upheld complaint.

Go here for more advice:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

dolphingazer

Mike075 wrote: »

Hi,

Can anyone confirm whether I'd have a chance of getting a refund. My situation is as follows:
Took out a loan with Lloyds back in Jan 2009 I signed up to the PPI because I was told that if a didn't I probably wouldn't qualify for the lone. Now the problem is I was told this in a one to one meeting and so it's my word against theirs!

Do I have a leg to stand on?

Thanks in advance for any advice on this.

Hi Mike,

Banks stopped selling single premium PPI at the end of January 2009.
You would need to be sure that your loan was taken out before this period to be able to use this reason for mis sell.

IndianaBlues

Hi, I've been aware of the whole PPI mis-selling issue for a while now, but didn't think that it would apply to me as from memory I had to select it on both my online loans from Egg (2004) and Moneyback Bank (2006). However, I recently noticed some comments about the phrase "mis-selling" also covering the situation whereby the PPI was added as a lump-sum to the loan at the onset, and interest charged against this lump-sum as well.

Is this correct, as I can't find any reference in the official "How do I know if I was mis-sold?" sections?

My Moneyback Bank paperwork clearly shows this was the case, and I suspect it was also true for Egg, but I cannot find the agreement break-down.

llecky

llecky wrote: »

Thanks pointed that out to them they have extended it wont go any longer

Hi any one who thought that you could trust MBNA and link finiancial think again they told me they were not going for judgement and would wait for the outcome of my ppi claim.
they lied and went for judgement anyway so please ignore my earlier post:(

[Deleted User]

Moneyineptitude_on_27/06/12 wrote: »

The problem with this is it typically takes eight weeks or more to process a PPI complaint, even if it's successful.

llecky wrote: »

they told me they were not going for judgement and would wait for the outcome of my ppi claim.
they lied and went for judgement anyway so please ignore my earlier post:(

I did try to warn you this was likely in my post above. So now you have a County court Judgement and are still not guaranteed an upheld PPI complaint.
Hard luck.

meridian4

Hi Guys,
First time here to the thread - and would really appreciate your feedback on my situation.
As with everybody, I get 3 calls a week from PPI claims cold-callers. I have ALWAYS stopped them in their tracks when they start the script, telling them I have never purchased PPI, and always checked it was not on the agreement before I signed... which usually got them off the phone. But, today when I said this, the guy from APP told me about a £5,000 loan I had with Halifax back in 2005 (which I paid off in 2007). He said the final settlement figure I paid was too high, considering it was 6% API. He then explained that mis-selling of PPI was very probable, and that banks/loan companies have been adding PPI charges without the knowledge/consent of the borrower. This was all new to me - so I agreed to let them send me down the 'no win- no fee' claims route and he transfered me to PPI Claim Line.

Since then (3 hrs ago) I have read here that I can do the claim myself (saving 25%), which I will - BUT, does his comments seem real to you? Have you guys heard of such goings on? I'm not sure if he was just looking to get me on board so he gets his call commission.

Further point is - I have 9 loans and 6 credit cards ranging from 2003 to 2011. All of which I paid via a settlement figure as I sold my home to do it. I have the majority of their details and agreements. Should I be pursuing them all? I am not aware of any PPI on any of them - but now I don't know whether it was 'hidden' in my settlement payments.

Sorry for the long explanation - but I'm really new to this as I never thought it pertained to me. Greatful for your thoughts.

I am so pleased many of you are getting success with your claims. Well done.


Merdian4

amersall

the guy from APP told me about a £5,000 loan I had with Halifax back in 2005 (which I paid off in 2007). He said the final settlement figure I paid was too high, considering it was 6% API. He then explained that mis-selling of PPI was very probable, and that banks/loan companies have been adding PPI charges without the knowledge/consent of the borrower.

Total rubbish !!!!.

Do not sign anything with this company or give them any money upfront, if you have PPI it will show on the agreement for a loan and on every CC statement for a CC.
Check any paperwork you have, if you had PPI and were mis sold, put the claim in.

he was just looking to get me on board so he gets his call commission.

Most certainly

needhelpplz

amersall wrote: »

If it is Loans.co.uk then FP should put the complaint into them if it is not then FP should deal with this complaint, if FP have not got back to you in the 5 days then let them know you are going to the FOS.
This PPI was mis sold and FP need to get this claim under way either with themselves or Loans.co.uk.
It is possible that this loan was introduced to Barclays by Loans.co.uk,in any event, it does not matter who sold the loan and PPI this is a win.

Hi Amersall

Sorry to be a pain but phoned First Plus and they are still saying my loan was brokered by Loans.co.uk who are denying this.
How do i go about putting a claim in when nobody is accecpting reliability for selling me the loan ?
First Plus are saying they can send me the agreements out showing loans.co.uk brokered this
FOS said i can put in a complaint with them but this could take up to a year. I am still paying this loan and it was took out in March 2005. I just want somebody to acknowlege my complaint and take the standad 8 weeks to decide if i was missold

Gemster1982

Hi all got some advise from here back in February am pleased to say I finally got my settlement letter through today and should have my refund within the next 28 days ))) and is more than what we thought.
Any idea what I have to do regards the tax etc? as I don't have a clue what to do.

Thanks

gramochroi

Hi, many congratulations on your win. You pay tax on the interest at whatever your standard rate tax is. My OH just called his tax office with the figures when he got his breakdown, they told him what he should pay and he sent off a cheque. Saves changing your tax code etc, just gets it paid off in one lump so you know what you have left. Please anybody feel free to correct me if this is not correct!!