PPI Reclaiming Discussion Part 5

Icandothis2

amersall wrote: »

As the loan is still running, you would not have paid back the whole PPI.
They would have given you PPI back plus the 8% for the period from loan start date to the date they repaid you.

The most important thing here is, did they remove the whole PPI balance from the loan and did your monthly payment reduce by the PPI monthly amount?.

The Loan is now part of a DMP and the remaining balance has only changed by the £500. I did ask them to take the remainder of the balance, but they ignored, my letter. Is i worth another try? what do I do if they ignore me again?

Thank you so much for your help

amersall

I am not sure if PPI is removed on a loan that is on a Dmp.

Post the question
"with PPI redress on a Dmp, is the whole PPI removed from the loan"?
on here.
http://forums.moneysavingexpert.com/forumdisplay.php?f=136

You will get the right advice from the posters on there.
Glad to have helped.

amersall

I see you posted it.
Good luck.

NicNoc29

Hi there

6 or 7 years ago I made a PPI claim against a bank loan. At the time the bank agreed that I had been misold the PPI. However, if I can recall correctly this was around the time that it was going to court and the bank(s) had frozen all applications until the judge had decided.

As I was in financial hardship they offered to reimburse me a % of the money that I was due but I had to agree that if the courts ruled in the customers favour then I would not be able to make a further claim for the remainder. I desparately needed this money so I agreed.

Now though, I feel that this was totally unfair and given that I'd already paid all of the PPI and I wasn't even covered should I ever need to make a claim, I feel I should be paid the remainder.

Do you think that I will be able to make a claim for the rest now? I don't really have any details of my orginal claim either

lois2k

My father had a business loan through HSBC some 20+ years ago and he knows they made him take out an insurance. He obviously doesn't have any of the paperwork for it now and we wrote to them about a reclaim and they said they didn't have any of the details either.
Where do we go from here? Is it worth the hassle?

Insider101

lenniejive wrote: »

I am one of those people who will annoy Martin in the fact I have not kept great records of the different accounts, loans etc I have had in the past.

Is there any recommendation of best PPI collector? Best customer service, best commission etc?

Interested to hear some thoughts.

What do you think has been done wrong when and by who?

There is no such thing as a "PPI collector". PPI is not some magical insurance that you can have a refund for just because you ask and if you go in expecting to just sign an authority and wait for people to throw money at you then you are likely to end up disappointed.

All a CMC would do is put in a complaint on your behalf. However, you would still need to give them the complaint reasons and sign the paperwork. If you consider yourself to have genuine grounds for complaint, may as well just write directly, it will take half an hour and save you 30-40% of any redress you may be offered.

Insider101

Icandothis2 wrote: »

I am hoping for some advice - i'm a newbie so apologies if this is not the right place.

I sadly used a claims company and they agreed a figure with Barclays of £500 settlement, when I have documents to prove we were charged £3000 PPI at the start of the loan. I have written to both sides advising that we do not accept this figure and we were expecting £3000 as per the proof. By neither replied. This was over a year ago, I admitted defeat and did nothing, as I had lots of other things going on. Is there anything I can do?

Many thanks for your replies in advance

Did the loan run full term or was it paid off early? If the latter then the policy will have been automatically cancelled and you will have received a rebate, though you won't know it (the money goes to reduce the settlement figure and not directly back to you). The CMC won't respond as they don't have a clue when it comes to calcs and nor do most bank staff.

Also, if by any chance you defaulted on the loan then they only have to offer the amounts you actually repaid.

dunstonh

lois2k wrote: »

My father had a business loan through HSBC some 20+ years ago and he knows they made him take out an insurance. He obviously doesn't have any of the paperwork for it now and we wrote to them about a reclaim and they said they didn't have any of the details either.
Where do we go from here? Is it worth the hassle?

What was the insurance? 20 years ago and a commercial loan and it could easily have been life assurance. However, that is allowed and not something that would be successful in complaint.

If they have no paperwork and he has no paperwork then its game over.

lordsnooty01

After sitting on the fence for far too long, I took the plunge last week and discovered that I had EIGHT Lloyds loans that were eligible for PPI reclaim.

I have had the pack through from Lloyds today which states the 8 account numbers relating to the loans, what is doesn't state of course is the dates when the loans were taken - I have no idea of the dates and similarly what employer I was with when I got them (they ask this question on the form).

Should I just go back at them on the phone and ask for the dates of when the loans were taken or do I have to be more official? They were very forthcoming with the details when I enquired about PPI - In all honesty, I had no idea I had taken so many loans!!! :rotfl:

Any ideas?

amersall

Just answer truthfully re employment, if you cannot remember then put that.
Refer them to the loans they listed and again, that you cannot remember.
You could call and ask but they will tell you the same.