PPI Reclaiming discussion

EileenWonder

I need help please!!

Took out a masterloan for £13500 in 2000
Paid £3000 PPI (was informed no ppi no loan, also hubby is self employed taxi driver)
Paid it off in 2002
MBNA took out loan 2002 for £26000 Paid £6000 PPI:eek:
(was informed no ppi no loan, also hubby is self employed taxi driver)
Paid it off in 2004

Have written the first letters and barclaycard are saying go away
MBNA will let me know on the 10th December

I cannot take any of these to the FO as per the 2004 rule and scottish courts only go up to a £750 claim

Where do I go from here.

Thanks

tiggrae

EileenWonder wrote: »

I need help please!!

Took out a masterloan for £13500 in 2000
Paid £3000 PPI (was informed no ppi no loan, also hubby is self employed taxi driver)
Paid it off in 2002
MBNA took out loan 2002 for £26000 Paid £6000 PPI:eek:
(was informed no ppi no loan, also hubby is self employed taxi driver)
Paid it off in 2004

Have written the first letters and barclaycard are saying go away
MBNA will let me know on the 10th December

I cannot take any of these to the FO as per the 2004 rule and scottish courts only go up to a £750 claim

Where do I go from here.

Thanks

Hi there Eileen, the Sheriffs Court in Scotland are a nightmare to use - complicated and like you say the small claims only goes to £750. You have two choices - employ a solicitor to issue the writs etc. but you'de have to take out indemnity insurance against losing or issue a claim in the English Court system in the court closest to either MBNA / Barclaycard HQ (ie Barclaycard are based in Northampton so issue it through the Northampton County Court.

Also, I wouldn't go for the mis selling side I'd go for the fact the partial refund terms are unfair - please see my previous posts regarding the Unfair Consumer Contract Terms Regulations and the FSA ruling stating they believe these to be unfair.

this is the link to the fsa ruling Refunds of Single Premium Payment Protection Insurance

tiggrae

chrisred wrote: »

Hi all

I had PPI and when tried to claim was told I had to be out of work for months before claiming, had I been told this I'd never have taken this pointless cover out.

When trying to cancel they wouldn't let me, had to re-apply for the loan and was then declined (even though circumstances were much better etc)

Have just received a stock 'we have received your complaint' and will be back to you shortly.

The loan was for £7500 over 4 years but was paid off after about 2 1/2, I've found paperwork for the settlement and it says on there 'you may be entitled to a refund of part of your loan PPI premium'. I don't even remember getting this I remember thinking the settlement was really high as the balance hadn't reduced much in the time I had it.

Glad to see others are having success with Lloydstsb, I just hope I will get the same luck and don't have the usual battle on my minds which I always seem to get

Does anyone have feedback for Lloyds? It's took a month for the stock letter and the MSE template I used gave them 8 weeks dragging this out till next year. Any inspiration most appreciated

Hi Chris, the statutory complaints procedure allows them 8 weeks in which to respond so you won't be able to push any quicker.

Also, partial / no refund terms on PPI have been ruled by the FSA as being unfair under the Unfair Consumer Contract Terms Regulations - please see this document obtained from the FSA website - as the FSA have ruled this unfair you might have a greater chance of getting the full refund rather than going for the mis selling angle

This is the name of the document you need - it's now 14th on the list when you search for ppi on the FSA website

Refunds of Single Premium Payment Protection Insurance

tiggrae

stikiuk wrote: »

Thankyou, will draft a letter tomorrow. If you don't mind checking it over before i post it to them ? x

Hi, this is a link to the correct document - it'll print out with the FSA heading on.

Refunds of Single Premium Payment Protection Insurance

tiggrae

mickluz wrote: »

I posted my story in the "successes" section of the site on 24/11/07. Going a bit deeper and having a good think about it I`m now not so sure. Can anyone out there help.

My offer from LTSB for a £25,000 loan, taken out in Nov 2004 over 7 years, was £ 5,705 plus interest on an ex gratia basis and the money would go towards reducing the term of my loan. The monthly repayments however, stay the same. ( I still have the PPI with them )

On checking my policy the £5,705 figure offered is the total premium for the life of the loan, although, as I said, they still want me to continue with the same monthly repayment !

Can someone point me in the right direction as I`m confused ( and suspicious ! )

do they mean the loan will be paid off earlier ??? (ie the loan will repay early) - you need to write back and clarify exactly what they mean

tiggrae

MSE_Wendy wrote: »

This thread is specifically for discussing the content of the

PPI Reclaiming article.

To discuss or ask a question about this article: click post reply
Report and read success stories in this thread

NOTE FROM MARTIN:

Hi Folks

Many of you are asking "can I reclaim questions" below. Let me give a generic answer.

At the article is new for the site this means that unlike Bank Charges reclaiming they're aren't many experienced reclaimers on hand to help yet (hopefully that'll change soon when people who have been through the process come back to help others).

Go through the article in detail for the main categories of misselling. Yet in a nutshell if you have an inappropriate PPI product and weren't told it was inappropriate; or if you have a PPI policy without being told; then it's likely you have a mis-selling case.

How to know if you've a misselling case?

Well hopefully the article explains it; but if you're not sure, and you think you're hard done by, send your provider the template letter. It's as simple as that, just go for it. There's no cost for doing this. If 'reclaiming' is a scary concept, just think of it as a 'complaint letter asking for your money back'.

Therefore ask yourself the question, "have i been treated reasonably and given reasonable information?" If you think you have - don't try. If you don't think you've been treated reasonably, then start the reclaim.

Best of luck

Martin

Hi Wendy / Martin

I've been helping people out on their reclaims of ppi and the same issues keep arising and don't think the template letters make enough of the legal issues or the fact the Financial Ombudsman won't look at anything pre 2004.

People need to know under what legal basis they're making their claim so they don't get 'fobbed off' by the lenders. For example on no refund / partial refund terms where a loan has been paid off the FSA have stated they believe these to be unfair under the Unfair Consumer Contract Terms Regulations 1999 - Refunds of Single Premium Payment Protection Insurance this is the link to the document.

For mis selling the law is Negligent Misrepresentation under the 1967 Misrepresentation Act - to state Negligent rather than Fraudulent means the onus is on the provider to prove they were not negligent as apposed to the claimant having to prove they were.

Regards

yraunaj

Sent the first letter to Egg in Oct they said as the telephone tape was corrupt they were unable to listen to our conversation so as a good will gesture they sent a cheque for £325, sent another letter and said as they couldnt prove to me that the policy wasnt missold i wanted a full refund plus interest received a letter from them yesterday offering the full amount.

tiggrae

yraunaj wrote: »

Sent the first letter to Egg in Oct they said as the telephone tape was corrupt they were unable to listen to our conversation so as a good will gesture they sent a cheque for £325, sent another letter and said as they couldnt prove to me that the policy wasnt missold i wanted a full refund plus interest received a letter from them yesterday offering the full amount.

Hi there, that's fantastic news - it's what I've been trying to get across - you have to get them to prove they weren't negligent - sent a post to Martin to try and get the templates changed to focus more on the knowing the legal aspects of making a reclaim !!!

bobbybuttons

I am claiming back ppi insurance from mbna, sent in my first letter giving 8 weeks. they replied after a few weeks saying they will give me a full decision by today the 2nd december.
no letter has been received yet what to do now, give it till tomorrow then what??

tmt18

I took out a persoanl loan incl PPI (single premium) back in Feb 07 with HSBC. I have recently read Martin's article regard PPI claim, I felt that have been mis-selling PPI policy at the time and I will definitely go through re-claim process. But just wondering now I am able to paid the loan back early, should I still make a payment to close the loan down, while going through the claim process??