PPI Reclaiming Discussion Part 5

[Deleted User]

90mile wrote: »

we filled in a claim form with one of these companies.

This form (if signed) forms a legally binding contract with the company. You admit you've had a refund, it's just taken them this long to bill you.
You'll have to pay them, I'm afraid.

[Deleted User]

only_mee wrote: »

Even after the 12 month discharge?

Forever I'm afraid.
It's money that no longer belongs to the bankrupt. Any complaint redress goes to the OR for redistribution to creditors.

amersall

90mile wrote: »

Hi- I have a question about a ppi company. In May last year we filled in a claim form with one of these companies. We received no acknowledgement from them or any correspondence from them at all. This April we received a bill from them for a large amount, basically a year later. Although we received a refund, its impossible to tell whether its down to our own efforts or through theirs. So to sum up, we were never told in writing until now if the claim had been successful or if they were handling it, or should they be successful what the fees would be. Its very strange receiving this a year later. Do they have any legal justification for this claim?
What should I do?
Rgds

Was this company First step finance? another poster has the same question.

kimbokoo

Hi
I rang up my bank (Natwest) last week to see if I had paid any PPI on my previous loans (i have had loans for about the last 10 years).
They told me that I had paid PPI on the following loans :

09/01/04 - Loan of £1500
07/10/04 - Loan of £3500
05/02/05 - Loan of £5100

All of the above were consolidation loans, so I paid of the current one and then added more on top.

I have received a reply back today offering me a goodwill gesture of

£123.01 (£78.32 PPI refund and £55.86 interest then minus tax)
£126.76 (£82.52 PPI refund and £55.30 interest then minus tax)
£1,177.52 (790.59 PPI refund and £483.66 interest then minus tax)

Have got a few questions really?

Will the above refunds of PPI be the full amount of PPI I paid (or near enough) or is it going to be worth pursuing this for more?

Can I find out how much PPI I actually paid?

If I was to not reply to the letter and go to the Ombudsman, and say they didnt think I was intitled to more, would I lose this goodwill getsure by going the Ombudsman or can I look into it with them, if they say, we think the gesture is fair, then go back to the bank and take it (basically, if i dont accept, could i end up with nothing?

Also, I do still have a Loan with the Natwest which still has another 6 years on it - if I was to accept their offer, are the above amounts just knowcked off what I owe on the loan?

Do i be happy with what they are offering or go for more?

Any help would be appreciated ?

90mile

No - it was ppi advice line.
I had suspected this was the case - but I wasnt sure how valid it was as they had not entered into any correspondence with us until this point. On here somewhere it points out that they had a duty to provide advice on what the fees were before taking action, and that certainly wasnt the case.

many thanks Marc

only_mee

Moneyineptitude wrote: »

Forever I'm afraid.
It's money that no longer belongs to the bankrupt. Any complaint redress goes to the OR for redistribution to creditors.

Hmmm a good friend got 2 separate ppi claims settled and directly paid to herself after bankruptcy.

[Deleted User]

90mile wrote: »

On here somewhere it points out that they had a duty to provide advice on what the fees were before taking action, and that certainly wasnt the case.

You were authorising them to take action when you filled out their complaint form.
Most of these CMC contracts are pretty watertight, I wouldn't expect to find that there was no mention of the fees they charge.

[Deleted User]

only_mee wrote: »

Hmmm a good friend got 2 separate ppi claims settled and directly paid to herself after bankruptcy.

This is illegal. The money belongs to her creditors and should have been surrendered to the Official Receiver.
Full details here;
https://forums.moneysavingexpert.com/discussion/3766585

"if you have already made the claim and pocketed the cash there is a good chance that the Insolvency Service will at some point try and cash in the claim and therefore realise that you already have. At that point they will have the option of recovering it from you."

amersall

kimbokoo wrote: »

Hi
I rang up my bank (Natwest) last week to see if I had paid any PPI on my previous loans (i have had loans for about the last 10 years).
They told me that I had paid PPI on the following loans :

09/01/04 - Loan of £1500
07/10/04 - Loan of £3500
05/02/05 - Loan of £5100
as these were consolidation loans, you would have repaid these early so you paid less PPI, when you settled each loan a rebate of the PPI would have been given, they take the rebates off the redress
All of the above were consolidation loans, so I paid of the current one and then added more on top.

I have received a reply back today offering me a goodwill gesture of

£123.01 (£78.32 PPI refund and £55.86 interest then minus tax)
£126.76 (£82.52 PPI refund and £55.30 interest then minus tax)
£1,177.52 (790.59 PPI refund and £483.66 interest then minus tax)
was the last loan settled early or is it still running? PPIlooks to be good against the loan amounts
Have got a few questions really?

Will the above refunds of PPI be the full amount of PPI I paid (or near enough) or is it going to be worth pursuing this for more?
You paid less PPI as these were consolidations and rebates given when you settled earlly
Can I find out how much PPI I actually paid?
Give them a call and ask what the original PPI was
If I was to not reply to the letter and go to the Ombudsman, and say they didnt think I was intitled to more, would I lose this goodwill getsure by going the Ombudsman or can I look into it with them, if they say, we think the gesture is fair, then go back to the bank and take it (basically, if i dont accept, could i end up with nothing?
Unless you know the exact PPI amounts then taking this to FOS could result in the offer being withdrawn by the bank
Also, I do still have a Loan with the Natwest which still has another 6 years on it - if I was to accept their offer, are the above amounts just knowcked off what I owe on the loan?
If there are arrears on the current loan then they can take this off the loan, is there PPI on this loan or not?
Do i be happy with what they are offering or go for more?

Any help would be appreciated ?

Without knowing the PPI total amounts, you won't know if they are correct, as I said the PPI looks right for the amount of the loans.

tarkey

Love the site and many thanks for all the valuable information.

I submitted an PPI application to VW Finance and yesterday received their reply.

In 2002 I purchased a car and entered into a loan agreement. I was advised that the PPI should be taken up to ensure the agreement went through. After being made redundant in 2006, with a month or two, I paid the loan off early.

The reply from the VW Dealer/Finance has taken seven weeks, only to receive the reply that this agreement is more than 7 years old therefore they have no paperwork. The agreement actually ceased June/July 2006 so not quite 7 years yet, and I actually sent them a copy of the agreement that I held anyway.
The second reason for not agreeing with the complaint was that at the time of the agreement, they were not part of the FSA, and therefore did not have to abide by their regulations.

Is this worth sending to the FOS?

Many thanks for any help with this.:)