PPI Reclaiming discussion

tiggrae

stikiuk wrote: »

Ok so court it is, do you think it would be worth contacting a solicitor or such to help out ? And can you reccomend any that operate on a no win no fee basis ?
Not sure if your allowed to do that, but if you can it would be a help.
thanks x

Hi there, I've sent you a Private Message

tiggrae

lynz412 wrote: »

Hi there, I really need some help please.

Here goes:

Took out loan with First Plus Oct 2006 for £93000.

Added the PPI foolishly.

On our breakdown it says that we pay £183 per month over and above the loan for the PPI.

Loan is for 20 years, but PPI only for 5! Wasn't aware of this.

Will get payout of £21000 In 5 years if not made claim, but pay the extra £183 for whole term of the loan.

Have contacted First Plus and asked about what payments would be if i cancelled the PPI.

Got letter saying that they would come dowm only by £40 per month!!!!! and they would refund £4000 into loan account.

Is this right, why if i cancel my PPI would my payments not come by the £183 which my agreement says i am paying for the PPI.

Really confused and could do with the extra £££ as on maternity leave.

Hope someone can shed some light.

write back and ask them for a breakdown and how they're calculating the £40 etc.

tiggrae

fallyhag wrote: »

My guess is, as it was with the credit cards, is that this is a generic "no" letter and I should continue. But do I have to have their "Final Response" letter before I go to the FOS?

you could count that as their final response letter

sara_reade

Hi,
I have just received a final response letter from Capital One saying that they will not be refunding my missold PPI and that i should go to the FOS. This takes ages though doesn`t it? Do i have to go that route or can i reply to C.One again threatening court action, or is that a last resort? I`d rather push C.One for refunds rather than going through the lengthy FOS stuff.
Please can anyone advise me as i feel like i don`t stand a chance with this reclaiming lark, no replies as of yet from Endeavour Personal Finance, G E Money Home Lending, London Mortgage Company or Welcome Finance!!!!! :mad:

d79

I've just tried to reclaim £150 back from Capital One after they 'mis-sold' me PPI. Apparently I agreed to it when I activated my new card last year but this is news to me! I used the template and I've just recieved my answer... they say I should've noticed the money coming out quicker and that they will not honour my claim!

Just so you all know, they have been fined for this in the last 2 years.

Where do I go from here??

Knightowl

Knightowl wrote: »

Ok sorry to say I can't find my original post!

I won't mention which bank yet but this is the scenario...

I was unemployed for 14months due to a back injury created by an industrial accident.
To obtain employment I moved to a different area.

I was still classed as invalidity and suffered from depression (still do if truth be known), I also still have issues from said period.

At the time of asking for 1st loan to help with relocation I was advised the following with regards PPI....."It won't harm your loan application it will enhance it.....and considering your recent experiences its a sound investment" or..words to that effect.

The bank knew of my problems and as such had previously withdrawn my existing overdraft facilities because of them. At no time had I ever hidden this FACT.

The idea of loan with guaranteed protection considering my experiences was not to be sniffed at! Silly confused me went down the same route with a credit card from the same bank.

I have written using the initial template and have received 2 letters in the space of less than a week.

Receiving the letter dated the 3rd two days before the letter dated the 1st !

An investigation is now in place...so they tell me........as they are "concerned"

The bank has taken less than 5 days to reply!! (all 3 letters dated in a 5 day period received within 8)

THEY WANT TO SETTLE......but have made no offer of interest in my favour.
They are happy to repay premiums with the intrest they incurred but nothing in the way of compensation. Should I settle and be done with this?

gilly110

hi new to this but can someone help me, lloyds have offered me £1462.18 plus interest on missold ppi, and they have said they will take it off my loan but can i ask for it to be put into my bank account as it is money that is owed to me, plus can someone tell me why my monthly loan payments will remain the same as when i had the ppi, thanks

smitchy73

First Response have wrote to me with their 'First Response' lol, well I got two letters today from them, the weird thing being that I received the first letter which was an acknowledgement of my letter, 2nd letter which is dated the same as the first is after their investigation.
They have found no evidence of being mis-sold, they also go on to say that the insurances are not part of their underwriting it doesn't make any difference to their underwriting of the loan.
They also claim that all their underwriters receive thorough training before speaking to customers, but I didn't speak to their underwriters except to confirm a few minor details, all the paperwork was signed in the car dealers showroom.
They also go on to say that due to my credit history the single premium policy was more specific to me in that if I missed any payments I was still covered, because if I had taken monthly payments and missed them the policy would be void.
They also say that due to the timescales ie August 2004 it was before they became regulated by the FSA and before they joined the General Insurance Standards Council and i'm not covered by going to the FOS.
Whats next folks?

smitchy73

Another question, this was a car that was financed and I done a voluntary termination, they say I got a refund on charges etc, but I remember them telling me I had to pay the full amounts of the insurances and would only get a rebate of interest from the car finance itself.

Should I write to them and ask them for a breakdown of the figures for the whole of my account?

Knightowl

gilly110 wrote: »

hi new to this but can someone help me, lloyds have offered me £1462.18 plus interest on missold ppi, and they have said they will take it off my loan but can i ask for it to be put into my bank account as it is money that is owed to me, plus can someone tell me why my monthly loan payments will remain the same as when i had the ppi, thanks

Interest?
Are they stating what the interest is for?

or just on the payments made............