PPI Reclaiming discussion

petermb_2

The template letters are excellent for a standard claim for mis-sell but with your case you would have to go another route for a far more formidable attack.

pm me with your contact details as I am not in a position to discuss such things openly on the forum.

HeyHeyMyMy

Has anything been decided about how to challenge the lenders not covered by the FOS? I got the usual fob off from Black Horse.

Morgan69

Hi people,

I really need some help and for you experts this may be interesting for you!!

My Ex partner and I took out a joint loan in Jan 04, we were making repayments no problem, then we split up. We continued to make payments by me paying half monthly into her account and she paid the loan no problem until Oct 06, This is when I recieved a letter saying the Direct debit had been stopped and restart if this was an error. I contacted my Ex and she told me she has gone IVA and her aggreed payment on that would be 49p in every pound owed (she owed alot more than just this) She was informed that altough our loint loan would be difficult at first it would sort its self out. Moving on the loan company (A&L) now, understandably, hold me responsible for the full amount and monthly payments. I am unable to make the full payments and agreed to pay half but the account is falling into arreas and has been for the last year as no payment has been recieved from her IVA.
If anyone can help me do somthing about this great please do!!

Now after reviewing the policy I have noticed we had taken out PPI in the form of a lump sum and are being charged interest. I have also just noticed the policy DOES NOT COVER ME!

Can i Cancel this and get a refund? as I cannot claim but are being made to pay?

A few figures for you Kind people.

Loan amount £20000
Interest £3502 @ 6.7 APR
Monthly payment £391.70

Personal Loan Protection £3583.35
Interest £627.45 @ 6.7%
Monthly payment £70.18

Please help as this is killing me Financialy and just managed to get a mortgage as my credit history is Donald Ducked.

Best regards to you all Keep fighting!!

petermb_2

Yes you will be able to claim.
You should be able to get the whole of the Payment Protection Premium wiped off plus interest.

avstar

Hi all

I've decided to reclaim PPI Insurance from HSBC and have read Martins Guide & downloaded the letter template (thanks Martin!).

Bit of dumb question but which address do I send it to ? My local branch where I took out the loan or head office ? And do you adddress it to a specific person ?
Thanks for any help
avstar

petermb_2

Address it to the Compliance Officer at the Head Office.

Morgan69

petermb wrote: »

Yes you will be able to claim.
You should be able to get the whole of the Payment Protection Premium wiped off plus interest.

What is the best way to go about it, Phone call or letter, I dont know what to say, I get confused reading Martins Guide for lump sum PPI's

what is my best approach?

Thanks for your time.

petermb_2

I would put it in writing every time and keep a copy of the letters you send and receive.

katie1

hello all,
I have written to Blackhorse twice now,once to them direct and second to FLA but both time got a get lost no you wasnt mis-sold ppi blur blur blur letter.

can someome please give me a little bit more info on the misrepresentation act 1967 and wether you think that the way i should go now?

thank you katie

tiggrae

katie1 wrote: »

hello all,
I have written to Blackhorse twice now,once to them direct and second to FLA but both time got a get lost no you wasnt mis-sold ppi blur blur blur letter.

can someome please give me a little bit more info on the misrepresentation act 1967 and wether you think that the way i should go now?

thank you katie

Hi Katie, the Misrepresentation Act 1967 is actually quite short (only 2 pages). It gives 3 types of misrepresenatation - Innocent, Negligent or Fraudulent, each type has to have induced you 'as a reasonable person' to have entered a contract. I'd use the claim for Negligent Misrepresentation (see previous posts above) as this places the onus on the person misrepresenting to prove they didn't - with Fraudulent Misrepresentation it's the opposite - ie you have to prove it. You can claim through the County Courts and ask for Recsission of the Contract (ie both parties go back to before the contract was made) and ask for indemnity in the form of all the premiums plus interest you've paid.

hope that helps