PPI Reclaiming Discussion Part 5

[Deleted User]

royalpeter wrote: »

PPI has had a lot of bad press over the past few years, but it is important to remember that this type of insurance is not always a waste of money and can sometimes be useful.

I'd certainly agree with regard mortgage PPI, with credit card and loans it was both expensive and largely useless.

If "Charles Niles" were to have a complaint upheld, any redress would be reduced by the amount already claimed on the insurance when he fell ill.

I'm not sure what valid reason for complaint he could give though, he certainly knew about it, was entitled to claim on it and showed he had a need for it.

island2501

About to write to Bank of Scotland and was wondering if anyone can help?
I would like to know how the repayment of the PPI is worked out on these figures.
The term of the loan was 60 months and it ran the full term.
fromm 2000 till 2005
The loan was for £9000
The PPI was £3381. 84
The interest was £4581.96
Documentation fee £90
Total £17 053.80

I know there is a figure of 8% involved in the calculation but still not sure how it applies.

Any knowledge I have before I send the letter would be a great help
Thanks in advance.

[Deleted User]

island2501 wrote: »

Any knowledge I have before I send the letter would be a great help
Thanks in advance.

If you complain successfully you will be awarded a full refund of any PPI paid plus attendant interest plus 8% simple interest.

You don't need to concern yourself with working out how much you might get, you need to have valid mis-selling reasons.

island2501

Moneyineptitude wrote: »

If you complain successfully you will be awarded a full refund of any PPI paid plus attendant interest plus 8% simple interest.

You don't need to concern yourself with working out how much you might get, you need to have valid mis-selling reasons.

Thanks for the prompt reply

wayne-tight

hi its my first ever post
ive recently been contacted by a company telling us we were miss advised when re-morgaging we were advised to take more money and pay our car finance off as the intrest on our morgage was less than what we were paying from car finance company
this was told to use by a morgage adviser
is this true and can anyone advise how to claim ?
thanks

Wackyal123

I was contacted today by a company called B&H who claimed to have been passed my details that apparently I had a product with mis-sold PPI.
Apparently HSBC were hiding PPI in with the minimum monthly payment. I was not aware of any of this so I don't know how to proceed. I don't know if I had PPI or if this HSBC info is true, and more to the point, whether the company were being genuine.
Does any one know the answer to these?

Thanks

crin

Just wanted to say thaks to amersall for all the advice after 10 months of waiting Lloyds finally upheld my complaint so I have some cash in the bank for a change.

amersall

Wackyal123 wrote: »

I was contacted today by a company called B&H who claimed to have been passed my details that apparently I had a product with mis-sold PPI.
Apparently HSBC were hiding PPI in with the minimum monthly payment. I was not aware of any of this so I don't know how to proceed. I don't know if I had PPI or if this HSBC info is true, and more to the point, whether the company were being genuine.
Does any one know the answer to these?

Thanks

PPI is not hidden, it will show the PPI on the agreement for a loan and on each monthly statement for a Credit Card.
The company that phoned you have no information regarding any of your credit or have had your details passed on, they are lying.
If you contact HSBC direct and you have the account number then they will help you with a claim if you had PPI and were mis sold.

amersall

wayne-tight wrote: »

hi its my first ever post
ive recently been contacted by a company telling us we were miss advised when re-morgaging we were advised to take more money and pay our car finance off as the intrest on our morgage was less than what we were paying from car finance company
this was told to use by a morgage adviser
is this true and can anyone advise how to claim ?
thanks

I think a Mortgage repayment would have a longer term than a car loan repayment, you were ill advised if this is what you were told, the thing is, you have no proof that this was the case unless you have the car loan agreement and can show it being paid off by the re Mortgage, even then it does not show that the advisor actually said this and this would make it a weak complaint.
If you wanted to complain and it was an Independent advisor you need to make the claim to them, if it was an advisor with a bank then make the complaint to the bank, you may not get anywhere with this for the reason I stated above but you can try if you want.

amersall

crin wrote: »

Just wanted to say thaks to amersall for all the advice after 10 months of waiting Lloyds finally upheld my complaint so I have some cash in the bank for a change.

:j:j:j Brilliant, glad to have helped :beer::beer:
My bill is in the post :eek: 0% and no Vat :rotfl: