PPI Reclaiming discussion

Alisonbel

I'm sure once I read through this post I'll get my answer but I've just rung Barclays re my PPI. I remeber being told that if I took out the loan over 20k I would get the PPI refunded after 5yrs if I hadn't claimed. They have just told me that this is the case but then I will not have any cover on the loan and it is up to me to sort something out. I've paid £1084 over the past 27months in PPI. Am I within my rights to claim this back. Why do we do such stupid things when we're desparate??

BipolarChucker

In Jan 2004 I borrowed £15,000 and opted to take the PPI. It was a single premium type policy and the entire sum was lumped on to the loan from day dot. I wasn't told that this was going to happen. The entire cost of protection was something in the region of £3500 so immediately I was paying interest on both the loan and the payment protection.

I paid off the loan some 2 years early but was only offered £500 back. Given that I've already accepted this I'm not sure where I stand on getting a refund.

I have slightly adjusted the template letter to suit my circumstances but I'm apprehensive about the potential outcome. As the saying goes though; "If you don't ask, you don't get."

I have pointed out in the letter that the refund was unfairly calculated but I expect them to come back with the argument that the refund is calculated on risk and that the final two years of the policy is less risky for them hence the smaller amount refunded. Instead of me getting the expect 2/5 of the PPI back, I got about 1/7 and my repayments didn't come down as time went on to reflect this "lower risk".

If they do come back with this then I will be scouring the terms and conditions for information about this pro-rata/risk settlement condition. If I don't find it, I have another avenue of approach. If I do find it I will contest the fact that I was paying interest on the full PPI amount when it was not required and will request refund of that too.

I'll let you know how I get on.

peppapig_4

hello
i have been reading up on reclaiming and have just looked at a Hire Purchase agreement that my husband took out in 2003 with GE Capital Bank
I noticed that he is showing on his Hire Purchase Agreeement that there is a total charge for credit of £2731.15, does anyone know what this is for,
The car he bought was for £11833.25
Less Deposit (old Car) £3080.84
Therefore amount of Credit £8752.41
However i have then noticed 3 other charges
(D) Charges 2546.15
(E) Acceptance Fee 125.00
(F) Credit Facility Fee £60.00
therefore total amount payable £14564.40
Are we being thick or does anyone now what these charges are and can we claim back
I have successfuly claimed back our Morgage exit fee from C&G so thought i would have ago at something else

progolf233

Whats the situation regarding a claim with Braclaycard for PPI, as yesterday i got a very standard letter about "we are concerned about my customer complaint" is this a delaying tactic? they also state in the letter that the complaint will be dealt with by the 21st September.

charleypumpkin

Hi all,

Help please dont really understand all this but do feel like i have been robbed!

Took out ppi with loan in November 2005 and it was a single premium for £9000 told it only covered 5 years of the loan and if i did not claim would get the majority refunded after 5 years ended. Did not really need it and tried to cancel after 12 months and was offered just over £2000 refund and advised to carry on as i would end up loosing alot of money. Paid loan up early last month and was refunded £1300. Seems an awful lot of money to have paid for just 20 months cover Does anyone know if we are entitled to more and if so how should i go about claiming ?

many thanks

Charleypumpkin

Hootie19

I have sent a letter to Capital One re PPI charges on my credit card. This was started in 2004 and I wrote to them cancelling it in September 2005, stating that as I was self employed and would never be able to claim on it, it was not applicable to my circumstances. They cancelled the payments then, but needless to say, didn't mention anything about giving me my money back

I have added up all the PPI charges I paid over that 18 month or so period and it comes to £140.05 (£170.62 if you add statutory interest at 8%).

I can't remember even how I came to take the PPI out - well, can anyone remember what they said/wrote in 2004?? I certainly can't. So I've glossed over details and just asked for repayment of the fees I've paid.

Nothing ventured, nothing gained etc? The worst they're going to say is "go forth and multiply", isn't it!

srrray

I took out a £10,000 loan with a company called First Finance in 1998/99 and failed to keep up payments due to running into financial difficulties. The loan involved a single premium PPI policy which may have been mis-sold to me.

As a result of not being able to keep up with my repayments, the Loan, (including PPI and Interest that I would have paid over the 10 year life of the loan) has subsequently been sold on to a Collection Agency.

The collection agency is now collecting interest on all three of the above elements of the original loan agreement, i.e. I'm paying interest on top of interest, therefore making it very difficult for me to make any reductions to the outstanding balance. The balance currently stands in the region of some £14,000.

Given that I may be able to reclaim the PPI, could someone please advise me as to who I should approach, First Finance or the Collection Agency?

Also, I am a bit miffed that the full interest for the loan was also sold on to the collection agency, even though I was only 3 years into the loan at the time. Can this be legal?

Thanks.

Morian

Hi, We took a loan originally from Ocean Finance which was done through Nemo Personal Finance. At the time we were so desperate for the loan that we thought we should have the PPI for quickness of moving the loan through, even though we saw how much the PPI was going to cost as a lump sum of £8000+ over ten years plus interest, the saving grace was that we would get half the premium back after five years if we didn't make a claim. We settled the loan after 16 months and to our horror discovered that the amount we could reclaim if we didn't leave the insurance to run the five years was 8% and even if we left the insurance to run we would not be entitled to the 50% refund of premium because we had settled the loan agreement. Does anybody have any comments on whether we might have a claim under these circumstances for a refund of premiums and whether 8% refund is considered fair?
Morian

Trishie

We took out a loan for £33000 in 2001 and with a PPI of over £ 8000. We paid the loan off early (2003) but judging by the amount of over £42000 settled surely we were ripped off. Anyone able to help as to whether I should try to claim and if they have been successful with theirs.

Thanks

Trishie

dwjohnno81

having seen this week money mutterings about ppi claiming i decided to look at my barclaycard statement to see if i was was paying for this!
low and behold i am!!!

but i have a problem!!

i have had the card now for a number of years and cant remember whether i asked for it or not so i could have a case for claiming but.........

i was made unemployed at the end of may and have not found a job since so i could actually claim for it!

so what should i do?

i have applied for loads of jobs but with no luck what so ever.

any advice or ideas would be most welcomed

thanks