PPI Reclaiming discussion

dwjohnno81

just to add onto my last question...

do you think it is possible to claim back on my payment protection up untill i was layed off work

rachelthomas1

Hi
Can anyone help me? I bought a car off YES CAR CREDIT in 2004 and remember i was hammered with extortionate interest rates and was told i had to take out PPI on the Finance which was provided by Direct Auto Finance. Yes car credit folded but Direct Auto finance haven't. The main problem here is that i no longer have any paperwork relating to the finance. I only have proof of when the finance was settled 12mths later when i remortgaged my house. Please help!

dreamer33

Has anyone had PPI sold to them through Freedom Finance I'm really keen to know?

Weird_Beard

I find myself in a rather unfortunate position and may well have discovered this too late. What follows is a tale of woe.

Friday August 3rd at 5pm I was made redundant. No consultation given and no money coming from the company.

On Monday August 6th I went down to the job centre to register for jobseekers where I get turned away and given a phone number to call. 2nd port of call is the bank because I need to sort my loan protection out, again turned away with a phone number to call. Understandable though this time, as I have to claim through an insurance company. (It's worth noting that my loan payment is £150 and is due on August 26th.) I get home and make those important phone calls, I'm given an appointment to sign up for jobseekers on August 15th and the Insurance Company are going to send me the forms I need to make a claim.

On Wednesday August 8th the forms to make my claim with the insurance company arrive. Start filling those in and notice that not only do I have to suffer the indignation of returning to the company that made me redundant for them to explain why on this form. I also have to get someone to prove I signed up for jobseekers. Queue another phone call to the job centre asking for an earlier interview. The answer is no due to the other 149 people that were made redundant at the same time as me they’re quite busy. So that means I can't complete the insurance claim forms for 1 week.

1 week later, Wednesday August 15th. Jobseekers interview over, insurance claim form now complete and in the post.

Friday August 24th, call from the insurance company, yay I've been approved subject to authorisation. So that means the payment I need covering is going to be covered right? No, that means I have more forms to fill in.
Queue another trip to the bank where I have to ask for help as if the loan payment is taken out, I'm flat broke and in the red. Unfortunately I have to accept a £500 overdraft to cover the payment and to live on until things pick up. Though I'm not likely to see any redundancy pay until October and I was told I wouldn't see a jobseekers payment of £59 until the end of the month. It's not all bad though, I have got a temporary job starting on the 30th.

Monday August 27th, loan repayment is taken, £20 into an overdraft I never wanted but didn't have much choice in taking.

Wednesday August 29th, 2nd jobseekers meeting, still no sign of jobseekers payment. Get home, 2nd set of insurance claim forms have arrived which requires proof that I've signed on at jobseekers. One gets the sense that the insurance company have no sense of timing. 2nd trip to the job centre in 1 day to get these forms filled in. Anyone would think I have nothing better to do then go backwards and forwards getting forms filled in. (It should be noted that this doesn't include the debacle of when I tried to claim council tax and housing benefit.)


So after a somewhat poor start to the month, it ended on a similar note, though consolation can be found in that I'm working again. After all that though, I may not have been miss sold PPI but when I needed it to help me, it didn't. Let's face fact's, it's the overdraft that has helped me.
Even though I have claimed and now can not claim I have been miss sold PPI. I’m still considering a letter of complaint, I understand things take time to sort out but when you’re out of work and are slowly running out of money to live on after paying all the bills. It’s just not good enough really.

jolou1

Recently increased a loan we had to £28,000 with NEMO personal finance,not realising the ''nice'' sales lady had stuck on PPI that we really don't need-she made me think it was a condition of taking out the loan,when I have now realised that it was optional.
Some 6 months later I requested a settlement figure as we were thinking of paying it off with sale proceeds of house-nearly fell off my chair when the sales lady said £36,000 as in early months we have to pay back most of the PPI plus interest!!!
That's £8000 slapped on top of a £28000 loan!:eek:

THINK !!!!!! TURPIN WOULD HAVE BEEN PROUD OF THIS ONE!

Imagine my joy when I received an email about reclaiming PPI-fate!

Lady on phone would not even consider my pleas for cancelling the PPI so have just downloaded Martin's letter and sent it off to them.Have had an acknowledgement of my ''complaint''(their words)so watch this space.

nippyone

Has anyone tried to reclaim PPI from Tesco Personal Finance for credit cards? And I have a Goldfish Credit Card which I have just recently paid off in full - can I still reclaim PPI?..... please help?

yraunaj

Can you reclaim PPI from a loan you are still paying

lesley65

:eek: hi guys trying to reclaim some ppi off three seperate loans (ppi all sold as single premium policies, all paid off early with no rebate) 2 of which i have been told by ocean finance, who i got the loans through, "the OFS would not be interested in as the sale of insurance products has only been regulated by the FSA since the 14th january 2005 and as my policies were sold prior to this date they would fall outside of their jurisdiction".
would much appreciate any help/advice from anyone who has had to go down this route.
i'm thinking not another court claim, i've already got one going with the bank charges and don't know if i'm that confident with this one.

really wishing i tried harder at school all those years ago and become a solicitor lol x x x

wotsundermykilt

I had a secured loan with paragon finance which was arranged through enterprise finance or enterprisebrokers.co.uk.

Who do i send my ppi request for a refund too? All the financial paperwork is headed paragon.

This following info might surprize a few people, but then again maybe not.
It was (a)£9000 secured loan with a further (b)£2,295(joint payment protection premium loan amout) lobbed on top which is obviously (c)£11,295!, over 10 years at £150.32 monthly 10.8% apr variable 0.816% monthly interest.The surprizing bit is this, you must pay an arrangement fee of £180.00. This will be added to the credit we are giving & repaid, along with interest on it, by inclusion in your monthly payment, therefore, that your total borrowing from us is the amount shown in (c) above plus the arrangement fee.

So not only are they charging interest on the ppi for the lifetime of the loan(10 years) (ppi 5 years only), they are charging interest for 10 years on the arrangement fee. What a rip off, surely that cannot be right or should not be allowed.
Funny thing is, in the enterprise (broker) finance letter to me, they were charging a broker administration fee of £180. Is that coincidental?

Also they added paragon offer a cashback offer on payment protection premiums.If you adhere to the conditions, they will refund your total premium on the 10th anniversary of the loan lol (why not after the 5 years it lasts?)
Sound too good to be true? Yeh, your loan had to be at least £10,000 over 10 years. I only had £9,000. What a rip off, why bother giving me the cashback certificate in the first place ARGHHHHH. I repaid it all last year but would love to my money back.

I better add that this was all done in november 2004

Sorry if it sounded like a rant

lesley65

hi wotsundermykilt

i haven't got much experience with this ppi reclaiming but i do know that you have to claim back via the broker, so in your case this would be enterprise, also don't know if you've read my post but if the insurance was provided before 14th jan 05, its likely you'll need to go down the court route, sorry if i can't be of more help

here's hoping you're succesful x x