PPI Reclaiming Discussion Part 5

island2501

Hi again

I also have a complaint registered with Close Motor finance about PPI sold to me as part of car finance.
Close are saying that I have to take up the complaint with the car dealer and not them.
The only documentation I have has come from Close Motor Finance
How can I make Close take responsibility for their missold policy?

Any ideas?

[Deleted User]

island2501 wrote: »

How can I make Close take responsibility for their missold policy?

You can't .

Any liability for mis-selling comes from the company that sold you the insurance. In addition, if this dates from pre January 2005 then the car dealer doesn't have to consider any complaint you make either.

-taff

island2501 wrote: »

They told me that if my claim was successful I would be due the £3800 plus any interest accrued over the period of the loan + 8%
Can anyone verify if this is correct and possibly work out a possible figure I should be due back.
Thanks

If paying it off in June meant you paid it early, you'll only get the months that you paid it.

justgettingby

amersall wrote: »

Get back in touch with them, give them chance to look at this again, if you can prove you were self employed at the time of taking this card out then send the proof, if you had savings /life Insurance, let them know this, show you had no need of this PPI and that is why you did not take it, ask them to confirm the cancellation and tell them you will be passing this to FOS to deal with.

Hi Amersall,

thank you so much for your response. I have replied to the letter enclosing scans of bank statements from the time. The account was held at the same branch as the card was issued. It was a business account with some regular payments coming in from the Government under the "Enterprise Allowance Scheme". A scheme at the time developed specifically to help people off of unemployment benefit and into a self-employed business or trade of their own. I set up as a freelance Photographer/assistant. The staff at the branch were fully aware of my employment status.

As she claimed to have reviewed my sales documentation in her letter, I have also requested a full copy of the agreement and the Terms and Conditions current at that time, in line with the Data Protection Act, using the wording from the letter here on MSE, and given her the 40 day deadline.

Following your advice, I have told her that I am writing to the FOS too. Should I start the process or give her some time to respond so as not burden the FOS possibly unnecessarily?

I will keep you informed of my progress. Once again, thank you for your time and expertise.

amersall

justgettingby wrote: »

Hi Amersall,

thank you so much for your response. I have replied to the letter enclosing scans of bank statements from the time. The account was held at the same branch as the card was issued. It was a business account with some regular payments coming in from the Government under the "Enterprise Allowance Scheme". A scheme at the time developed specifically to help people off of unemployment benefit and into a self-employed business or trade of their own. I set up as a freelance Photographer/assistant. The staff at the branch were fully aware of my employment status.

As she claimed to have reviewed my sales documentation in her letter, I have also requested a full copy of the agreement and the Terms and Conditions current at that time, in line with the Data Protection Act, using the wording from the letter here on MSE, and given her the 40 day deadline.

Following your advice, I have told her that I am writing to the FOS too. Should I start the process or give her some time to respond so as not burden the FOS possibly unnecessarily?

I will keep you informed of my progress. Once again, thank you for your time and expertise.

Glad to help.
Wait for a response and if you get no joy then take this to FOS.
Update when you get a reply, or not as the case may be.

amersall

island2501 wrote: »

Hi

I took a loan for £20,000 with First National/GE money
There were 2 PPI policies sold with it, for £1900 each, so total amount
£3, 800
The loan started Jan 2005 and was settled June 2006.
I have recently registered a complaint with them.
They told me that if my claim was successful I would be due the £3800 plus any interest accrued over the period of the loan + 8%
Can anyone verify if this is correct and possibly work out a possible figure I should be due back.
Thanks

You will get the total PPI back, they then take the rebate of PPI back that they gave you on the early settlement, they then take off the remaining PPI that you did not pay as this was settled early.

You actually paid 17mths of the PPI so you will get 17 monthly PPI payments back and the interest that was on those plus the 8%, this will be your redress.

The 8% is on a decreasing scale for each monthly PPI payment each month from start date to the date they redress you, the nearer you get to the redress date, the lower the 8% gets.

madmartha

Hi I am just looking for some advice please. I have been looking into my mums ppi credit card complaint since last year. Basically it has taken a year for this to be resolved with Lloyds Tsb & it is still on going. I have been informed that her claim has been upheld now & that they are finalising figures. As I sent an email to CEO’s department, I have been informed that staff on regular helpline can no longer provide me with updates & I have to await a call back from another debarment.

I was just wondering if someone could help me with figures etc? How will refund be calculated. How does the interest on this work. My mum has paid PPI for 11years on the card.

Also my mother made a claim on her PPI policy for a period of time when she was unwell. I have been informed that this will be deducted from her redress. Will this amount be the ppi premiums paid or minimum payment that was made to the card at the time?

Has anyone been in a similar situation with Lloyds TSB? I have been informed this is now a priority case as its taken over 12months to sort. I am a little cynical when I am told this as I have had terrible service form them over the last year
Your help and advice would be much appreciated

Thanks

-taff

The PPI paid on the card is dependent on the balance on the card, so if the balance was low or she paid it off compeltely, there won't be much PPI paid. Any redress will have her succesful claim deducted first, that is the total amount that was paid to her card each month she claimed for.

madmartha

Hi
Thanks for reply. I've worked out 8 years of the ppi premiums paid just missing two years worth of statements. I'm confused as to how interest is worked out. What would she be entitled to, is there anywhere I can read information about the interest. I just want to make sure she recieves the right amount.
Many thanks

bethg2009

Rang to chase Cap1 (Homeowner Loans) today as no response in over 8 weeks from them - that's after they sent a letter to advise they were having trouble getting in touch with Future Mortgages as they had to validate something or other with them, (been going on a year with them now) Received a voicemail this afternoon saying they have sent me an "assesment" form in the post some weeks ago, which I obviously haven't received.
Just wondering what else they might need to "assess" - the guy on the phone was very vague, very muttery and stumbly, I'm thinking it could quite possibly be some kind of an absolutely pathetic offer that they're hoping I'm going to accept - anyone shed any light or had the same kind of dealings???

Ta