Advice re claiming PPI from Direct Line please.

pseudopensioner

I'm a little late coming to the realisation that I may possibly be able to claim in this area.

I bought a new car in 2002 with finance from Direct Line but cannot remember the amounts involved. I have no paperwork related to the intial loan.

In 2005 I traded that car in and bought a new one with finance from Direct Line, I also used the same loan to purchase another (used) car. at the same time. Sort of upgraded the initial loan with a new one to incorporate both cars.

The only paperwork I have is-

March 2005
1) Agreement form showing
Purposes of loan- Repay DLfs loan /New Vehicle
Loan £25000.00
TotalCover Loan Protection £7,469.36
Total amount of loan £32,469.36
Total charge for credit interest £4,989.84
Total amount you have to pay £37,459.20
annual percentage rate 5.9%

November 2005
2) Early settlement figures
Present Balance £33,088.96
Less Rebate of charges £3,476.53
Rebate of Insurance premium £5,204.06
Amount required to settle £24,408.37

December 2005
3)Final payment confirmation letter

Any other paperwork relating to the Direct Line loan from 2002/20005 was discarded following receipt of the Final payment confirmation letter.

I then took out a loan with a different company and where I don't belive PPI was an issue and have final letter of settlement/completion for same.

So, as said in the title, any advice, should I request information from Direct Line relating to any paperwork from 2002-2005?

Thank you for having the patience to read thus far.

amersall

The PPI on the figures you have shown above is Single Premium PPI this is the most upheld of all PPI reclaims, use this as a reason for mis sell.

When you settled this loan they gave a rebate of the PPI so if you win redress they take this amount off.

When you used this loan to settle the first, you will have had a rebate of the PPI but the remaining PPI may have been carried over to the second loan.

You should get back if you win, the total PPI amounts less any rebates for PPI plus 8% statutory interest.

I take it you have the account number for the above loan? if you do then put a claim into Direct line, unless you purchased the cars from a Dealer and DL only gave the loan then do the claim to the Dealer, when you put the claim in, ask them to look at the loan that you paid off with this loan, this is shown in part on the agreement that you have, use the Single Premium as the reason and let me know how you get on.

pseudopensioner

Thank you for your response, very helpful..

Yes, I do have the account number for the 2005 loan and the paperwork as listed.

The original new car purchased in 2002 was from JamJar.com but I paid using the loan from DirectLine. The second new car purchased in 2005 was from a local main agent., but again was financed by the Directline loan.

I will search on MSE for the best way forward to make a claim.

[Deleted User]

pseudopensioner wrote: »

The original new car purchased in 2002 was from JamJar.com but I paid using the loan from DirectLine. The second new car purchased in 2005 was from a local main agent., but again was financed by the Directline loan.

I will search on MSE for the best way forward to make a claim.

You have to complain to the agency that originally sold you the PPI policy. With car purchase, it's the dealer who you complain to, as these are the people who actually did the (mis) selling.

Go here for guidance and replace the word "Bank" with "dealer" to advance your complaint:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Do note that you don't need to write for terms and conditions, just fill in the Ombudsman's form and include photocopies of the original documentation you have.