PPI Reclaiming discussion

Maggie_Holmes

tiggrae wrote: »

Dear all regard First Plus etc. there are a number of issues here, firstly and most importantly if you've repaid your loan / policies off the easiest way to reclaim is not to say you've been mis sold but that the Financial Services Authority have stated no refund / partial refund terms to be unfair under the Unfair Consumer Contract Terms Regulations 1999 - see my post at 1579 for the link to the relevant document on the FSA web site.

Secondly, when it comes to the 8% allowed under the 1984 County Courts Act because you've been unlawfully deprived of money, the 8% isn't added on to the accumulated amount, it's worked out on a daily rate basis from the day you made your premium payment; for example a payment of £20 paid 6 years ago will earn more interest then one paid 6 months ago. The easiest way of working it out is to use the bank charges calculator on the bank charges part of this web site -

Also, regarding taking your complaints to the Financial Ombudsman - you have to be aware you can only take your complaint there if the policy provider came under their jurisdiction when the policy was sold - for most this was around 14th January 2005, anything before this date they won't look at - but check with the FOS when the provider came under their jurisidiction - otherwise you'll have to use the County Courts - hence going for the Unfair Consumer Contract Terms is easier to prove in court then mis selling.

Thanks for your interest.. You mention in your post the Premium Payment, are you referring to the whole of the monthly loan payment which includes the PPI or just the £42.37 monthly PPI premium which was quoted on the agreement. When I get my next settlement figure thru I will post it on here to see if you or m.colak can help with figures and what I should be claiming back, because I am unsure now.
Thanks Maggie

sparkie45

had a letter back from unwelcome over the weekend saying that they had investegated my claim and are unwilling to pay out as they cant find a problem with my claim and they also sent me a onbusman leaflet what should i do next looking for a bit of advice

cheers in advance sparkie45

Grichardallen

gt568 wrote: »

What have you got to lose. Go for it.

Where do I start I can't fined my old paper work and what letter should I send to start off with??

Richard

gt568

Grichardallen wrote: »

Where do I start I can't fined my old paper work and what letter should I send to start off with??

Richard

Read the reclaiming article to start with. Decide if you were missold. You can't reclaim just for the fun of it. Then send of Subject Access Requests to the banks that you had loans with. When you have all the info send letter 1.

niemowle

hi m.colak and tiggrae
thanks a lot for all your advice, very much appreciated, a will take all what you've said on board!!! at the moment i am still waiting for response from the companies, i wish it was all over though,
thanks again and i just knew that there were great brain out there.

tiggrae

soontobesensible wrote: »

Need some help:rolleyes: wondered if any kind clever person out there could explain to me how I work the 8% out on my claim, e.g I had a payment protection premium of £4185 added to a loan with first plus of which the APR was 8.9% in May 2005.I paid it off after four months? Would very much appreciate the advice!

hi there, see my post at 1662 - that should give you all the information you need

hayley11

Hi

I haven't read every post so i'm sorry if i'm being stupid - can I claim the extra care insurance that Littlewoods has? I've had the catalogue for about 6 years and I don't even know what the insurance is for. I've recently cancelled it as it was costing me about £8 a month and I don't even pay interest on Littlewoods stuff.

Thanks in advance.

Hayley

Manky66

tiggrae wrote: »

Hi they will deny your claim by saying your husband is covered by the policy even though self employed - what you need to do is ask for a copy of the Terms & Conditions when the policy was taken out - what it will say is that to claim you have to be claiming job seekers allowance / company has ceased to trade - challenge this on the basis of different for employed / self employed persons paying the same premiums. Also, if they say in their letter he was fully covered and he isn't tell them you'll use that letter as evidence of further Negligent Misrepresenation and it will be presented in a court of law. - Good Luck

Hi Tiggrae OR ANYONE WHO CAN HELP just to give you an update from my claim regarding PPI Insurance alongside our mortgage 8 years ago for sickness & unemployment but my husband always been and still is self-employed got letter just before xmas saying they would respond by 18th January thats fine remember I said I would post in new year with any developments, you wouldn't believe how incompitant they are, just had letter saying they have no records of us having PPI ON A LOAN !!!!!!! It was actually PPI ALONGSIDE OUR MORTGAGE so Im back to square 1 now, I called them over Xmas after letter came, They said I would receive a call back NO CALL SO TODAY I HAVE CALLED THEM again!!! AWAITING CALL AGAIN - DO YOU THINK THIS HELPS MY CASE - THIS HAS BEEN GOING ON SINCE 13TH NOVEMBER AND I KNOW 8 WKS ARE NOT UP yet BUT I FEEL IVE GOT TO START AGAIN !!:mad:

ANY HELP WOULD BE APPRECIATED

jen1972_2

hi all....just given Black Horse a friendly phoned as not to be the bad guy, and spoke to a really nice lady who is going to consult her colleague this afternoon on my claim, i am at the off to court stage but thought i'd give them one last chance to play fair, my grounds for complain is the ole misrepresentation selling (no ppi no loan) but the lady has said i signed the form so not to expect good news but the thing is cause we signed the forms cause it was all one form including the ppi bit, any advise before i head down the court route please????

beechnuts

My husband and I took out a consolidation loan with the Royal Bank of Scotland in 2002 (I think!) for nearly £30,000. PPI was included but my husband was self employed and the bank knew this. We have now moved to Spain but have found it difficult to continue paying the loan payments and have agreed with the Bank a set amount each month (which is considerably lower than the original loan repayment figure) until it is cleared. I have recently been diagnosed with MS and we asked if we could claim under the policy because I couldn't work and they said I was not covered by the insurance even though the loan was in joint names.

I am guessing that I have a case for reclaiming but wondered whether this would work because we are not able to keep up the original loan repayments and are only paying a third less than they would have been each month. The bank have reluctantly agreed to this repayment arrangement but it was the best we could offer.

A successful reclaim would considerably reduce the outstanding loan if nothing else. What do you think??