reclaiming queries

johnsonv380

Hi,
Looking for some advice regarding 2 x potential claims.

1) I had a couple of loans with HFC going back to around 2005. I wrote to them 3 years ago regarding misspelling of ppi as we were told we would not be accepted for the loan unless we took out the protection.

Stupidly they said I was not eligible to claim as it was sold legitimately.

Through not understanding the process completely I never responded. As I thought that was that ! Yeah stupid I know.

My querie is do I still have a claim or not ?

2) we took out a loan about 5 years ago with nemo for 25 k over 25 years. This included ppi which was bundled in with the loan and we currently pay interest on. The protection was only for the first couple of years of the loan.

The loan was brokered by Relax finance Ltd who have ceased trading a couple of years ago.

The loan has something called quarter backed included which is quarter back of either Apr or protection. I'm not entirely sure, but it's one or the other. The pay is recieved on the 5th year and 10 year anniversary respectively.

We recieved £1300 ish last year. As it was the 5th anniversary. The loan is secured on our home. After a lot of reading on the site about nemo I believe we have a case but there are a few hurdles namely relax not operating.

We have not contacted nemo as yet as we wanted to get some advice first as not to make the mistake we made with HFC.

I worked for a HM force when we took out the nemooan and still do so we should be covered by sick pay anyway.

Sorry for the long post but I've tried to include everything possible.

Thanks in advance for any replies.

-taff

Your complaint is against relax finance, nemo have no liability. Luckily it was sold after 2005 so you can go to the FSCS.


For the HFC loans, make another complaint, complain about single premium on a consolidated chain of loans[ if it was] and point out that since they failed to nvestigate propely at the time, you'd like them to look at it again.

They may time bar your complaint, they may not, depending on when you complained.


It also depends on whether you complained before or after the ruling, so when exactly did you complain to HFC?

johnsonv380

-taff wrote: »

Your complaint is against relax finance, nemo have no liability. Luckily it was sold after 2005 so you can go to the FSCS.


For the HFC loans, make another complaint, complain about single premium on a consolidated chain of loans[ if it was] and point out that since they failed to nvestigate propely at the time, you'd like them to look at it again.

They may time bar your complaint, they may not, depending on when you complained.


It also depends on whether you complained before or after the ruling, so when exactly did you complain to HFC?

It was roughly 3/4 years ago for HFC. It won't hurt to write them a letter. I just assumed I'd already messed it up. How long ago was the ruling?

-taff

It was in April 2011

magpiecottage

johnsonv380 wrote: »

I wrote to them 3 years ago regarding misspelling of ppi

pip? ipp?

Stupidly they said I was not eligible to claim as it was sold legitimately.

I don't think that was stupid if it was true - although it may not have been. If they gave you six months to take it to the Financial Ombudsman Service and you did not then they can legitimately timebar your complaint.

2) we took out a loan about 5 years ago with nemo for 25 k over 25 years. This included ppi which was bundled in with the loan and we currently pay interest on. The protection was only for the first couple of years of the loan.

The loan was brokered by Relax finance Ltd who have ceased trading a couple of years ago.

The loan has something called quarter backed included which is quarter back of either Apr or protection. I'm not entirely sure, but it's one or the other. The pay is recieved on the 5th year and 10 year anniversary respectively.

We recieved £1300 ish last year. As it was the 5th anniversary. The loan is secured on our home. After a lot of reading on the site about nemo I believe we have a case but there are a few hurdles namely relax not operating.
[/QUOTE]As a secured loan, PPI does have value. This is because you can lose your home if you do not keep up repayments, the same as your main mortgage. The fact that you have sick pay may have been of limited value (although it might have paid out anyway) but it would also have protected you in the event of redundancy - from which the Armed Forces are by no means immune.

The key problem, though, is the single premium and that the policy does not run for the full term of the loan.

Relax Finance Limited was declared in default by the Financial Services Compensation Scheme in 2009 so I suggest you contact it.

BrucieBonus_2

Hi,
Any information that you can tell me would be much appreciated ,as this I apologise for in advance ,could become a bit long winded.
I had two lots of car finance from a garage through GE Capital in 2000 and then two years later on the next car that was re financed until settlement in 2005 . I had PPI on both agreements that was included in the HP monthly repayments .
The first car was bought in May 2000 and I was told finance would be achieved by taking out the PPI as I was 18 just turned with no credit history to help me. Also it was sold to me on the grounds of it I lost my job etc payments would be made to cover the payments but reasons for not paying out we're not mentioned .
With all debt cleared by June 2005 over the coming months all relevant paperwork/agreements were shredded.
Since around 2008 PPI management companies have been in touch numerous times and I never given them the chance to go through my business...... But one day I took a call and decided to listen,after all I had nothing to lose and heard of people claiming back monies they never even thought they were owed.
I had no plan to use one of these CMCs due to their ridiculous fees for something you can do yourself but listened to advice they offered .
I started the ball rolling on the grounds I was mis-sold PPI on two occasions.
First I found out GE Capital Woodchester were bought out by Santander . I got in contact and they informed me because of how far back it was,to write to their archives dept,which I did last week by email.
Today I received a reply in writing by ways of a standardised letter,which stated "having conducted a search of our records" response . They cannot locate any evidence of PPI sold to me and will gladly review it,if I can supply any evidence to demonstrate a policy was sold.
They say it can be in form of statements showing PPI premiums or agreements showing PPI added which I do not have.
I did speak to previous bank and for £10 charge can supply statements for allotted time but without any reference numbers or direct debit numbers etc .
Can you please give me ideas ,as I won't go down without a fight just because of the fact that it was years ago and I have no current evidence apart from old bank statements I could get copies of.
I want back what is rightfully mine

Regards Brucie

-taff

I wouldn't bother. All your complaints are pre regulation.

It's the seller who is liable, not the provider, so as they were sold to you by garages, you complain to the garages, but they can dismiss your complaints because as I've said, they were pre regulation [Jan 14th 2005]

dunstonh

First I found out GE Capital Woodchester were bought out by Santander . I got in contact and they informed me because of how far back it was,to write to their archives dept,which I did last week by email.
Today I received a reply in writing by ways of a standardised letter,which stated "having conducted a search of our records" response . They cannot locate any evidence of PPI sold to me and will gladly review it,if I can supply any evidence to demonstrate a policy was sold.

Even if they found the details, they would then likely see that it was a car dealer that sold it and would refer you to the dealer. However, most dealers did not become regulated until Jan 2005.

BrucieBonus_2

So what is a SAR and would this help?
Surely you would think someone has this information?
I've previously claimed back on bank loans last one ending in 2005 through RBS and they paid out no questions asked! What is the difference?
Thanks

[Deleted User]

BrucieBonus wrote: »

I've previously claimed back on bank loans last one ending in 2005 through RBS and they paid out no questions asked! What is the difference?

The difference is that Banks had their own regulation prior to 2005. Car dealers did not.
A SAR would therefore be of no use to you.

johnsonv380

Thanks for the advice. Both loans we were told that we would not be accepted unless we took the insurance. I will try with both and see were I get.