Loans.co.uk PPI Reclaim

goymer29

Just wondering if anyone else has dealt with them and how they got on.
We took out a joint loan secured against our home around 2004, we were visited by a representative from Loans.co.uk who proceeded to spend the next 3+ hours of our lives "selling" (I use the term very loosely!) PPI with our loan, we saw no alternative loan amounts without PPI attached, he told us his horror story of losing everything through not having PPI etc, well being young and fearing for our childrens future we agreed to take out the £10k policy front loaded onto our £40k loan, I sent a letter and FOS questionnaire to Paragon originally, they rejected as they hadn't sold policy, then sent letter and all original info to Loans.co.uk, to my surprise they agreed on it being mis-sold and that they would need us to cancel the policy as loan still active, this is all done and loan has been recalculated, not much difference in payment amounts per month as PPI already paid. Just wondered how long I may be looking at before I hear how much they will be paying us back as we are now about 3 and a bit months since started claim. Thanks.

_Andy_

"Just wondered how long I may be looking at before I hear how much they will be paying us back as we are now about 3 and a bit months since started claim."

Have you contacted them and asked?

goymer29

_Andy_ wrote: »

"Just wondered how long I may be looking at before I hear how much they will be paying us back as we are now about 3 and a bit months since started claim."

Have you contacted them and asked?

I haven't as yet as is still early days (or so it would seem looking at others processes), I will see if there is a contact number on the letter they sent. Was just seeing if anyone else had had this and how long it took. I know they have said they are upholding our claim but until I see the money I am always very sceptical.

goymer29

Have just checked on paperwork and there is no telephone number to contact them on. Can only contact them by letter.

smiffy01uk

This is the details i used for a successful claim a couple of years ago

LOANS.CO.UK LIMITED
STANSFIELD HOUSE
CHESTER BUSINESS PARK
CHESTER
CH2 9QQ
Company No. 03391635

Tel 01244 672 326

amersall

loan has been recalculated, not much difference in payment amounts per month as PPI already paid.

What was the original PPI monthly payment? this is what they should take off your monthly payment going forward.

What do you mean by "PPI already paid" ?
Make sure they have taken the whole PPI amount off the balance of the loan as well.

goymer29

amersall wrote: »

What was the original PPI monthly payment? this is what they should take off your monthly payment going forward.

What do you mean by "PPI already paid" ?
Make sure they have taken the whole PPI amount off the balance of the loan as well.

The loan was front loaded with the policy so we have paid almost all of the £10k policy already, we are having to wait for Loans.co.uk as Paragon did not sell us anything it was all done through a broker. We are now paying back the capital of the loan with the payments.

goymer29

Would just like to update you on my process with Loans.co.uk, I phoned using the number provided on here, went through to someone who gave me another number which eventually put me through to the right place! Spoke to a pleasant man who made me almost have a heart attack when he informed me that my letter detailing my offer was sent out the previous day and informed me that the amount is a little over £21k I was stunned to say the least! Have filled in the paperwork and they have said that the monies should be with me within 14 days. I still hold by my seeing is believing so what to see the amount appear in my account. Thank you to everyone who replied on here helping me contact them :j