PPI Reclaiming discussion

tiggrae

gt568 wrote: »

Of course you should persue it further. What letters have you sent? Have you threatened court or FOS yet? If not consider these actions.

write and ask them for a transcript of the original telephone conversation - under the 1967 Misrepresentation Act the onus is upon them to prove they did not negligently mis represent that the PPI was compulsory

tiggrae

kirkenstein wrote: »

Has anybody claimed back PPI on a loan from a bank they still have their current account with? I think I have a case for the return of around £4k in PPI on a ten year £21k loan (that has 6 1/2 years left to run) but my current account, which is heavily overdrawn, is with the same bank. I'm worried that if I start rocking the boat they'll ask for the OD to be repaid or even freeze my account thus rendering me unable to pay the rent or feed my family. Should I change bank accounts first?

You could set up another bank account as a safety net, however, banks are being charged with something called 'Treating Customers Fairly' so making a complaint against them for their mis selling should have no impact upon your current account

ginnygee

gt568 wrote: »

Of course you should persue it further. What letters have you sent? Have you threatened court or FOS yet? If not consider these actions.

Thanks for your reply. I sent them the original letter as per the website and they replied giving me a timescale. After that timescale expired they asked for more time, but as they had taken almost 11 weeks to come back to me, I did inform them that I would take the matter to the FOS. The actual reply I received from Egg came about a week after I sent the email about going to the FOS. I have received a copy of the original conversation but haven't had the opportunity to listen to it yet and I haven't replied to their letter either. I did also ask them for a breakdown of the final settlement figure I paid to finish the loan but haven't received anything from them yet.

Kind regards

Ginnygee

peawack

sanmiguel wrote: »

Dear Forum,

I have received a reply from my original letter to the Co-Op concerning mis-sold PPI denying that I have a case but offering to cancel the policy and reduce the amount oustanding on the original loan by a 'partial refund' of the PPI calculated from the date of the original complaint. I would have to take out a new loan however at the original interest rate of 7.202%

My problem is that I don't understand how they have arrived at the numbers quoted, ie

The term of the loan was 7 years (83 months) for £15500.00
The Insurance was a lump sum of £5155.65 which was added to the original sum.
Interest then added to the total of 5614.61 making a grand total owed of £26270.26

In my simple mind I calculated that the monthly cost of the PPI is £62.11 (5155.65/83)
37 payments have been made which equals £2298.07 and 46 months are left to run on the loan which equals £2857.06

The full and final settlement of partial refund being offered is £1561.14 which I must accept by 14.01.08

As you can see, it doesn't compare to my calculations and I am wondering whether I am being completely dim or they are stitching me up. Any help would be greatly appreciated.

Many thanks

You seem to be doing better than I have done. Iam at the end of my tether with the Co-op Bank !
I went to the Ombudsman, but let the time go by and the case became timed out. The co-op then objected to the Ombudsman being involved. The Ombudsman said I could go through the courts but the bank will not communicate with me .
I don't know whether to go for it or not, but as they sold wrongly me unemployment protection while I was on incapacity benefit, I think I have a case !

lg74

cocker100 wrote: »

Forgot to mention above!!!:o

What are the chances of success in these type of claims as there was only two of us present at the time the loan was agreed. There was no actual written evidence to suggest they acted wrongly. It is basically their word against mine.

Hi there
My situation with lloyds is that I have been chasing for about 4 months for them to detail my accounts held with them and none of the letters or people spoke to have been able to give me a full answer - I know I had 4 credit cards with them and they cant even provide me that information. Have sent the standard letters to them and 3 months later they "are looking into them"!! Am also in a similar situation as its my word against there's so just wanted to give you some background and dont expect a quick response!!!

Good luck with it all though and hope you have more response than me ......

lornz23

Hi,

I was sold Egg PPI (well i say sold but in fact i mean forced) after wanting to top up my loan. They told me they could only give the extra amount if I took out the PPI so I had to. I have tried about 3 times to have it cancelled Via email and have been told that i have to speak to someone about it. I have now sent them a letter to claim back the money that I have paid out on PPI. They were pretty quick with the first letter saying that they are looking into and someone will call etc etc. but i haven't heard anything since! This was about a month ago!

Has anyone had any luck with claiming back their PPI from Egg?

leggydan

Hi everyone,
I've recently written to GE Captial to reclaim account cover insurance from my store card. They have disputed the fact that i said they have already had successful reclaim cases against them (as per article) but i also said in my letter that i was missold PPI as i was a full time student at the time and therefore unemployed. They said to this that if i can send proof of being unemployed (working under 16hours) they will investigate further. What kind of proof could i send? If i was claiming benefits that would be proof, but i was at university and didn't even have a part-time job at the time i opened the card. I thought maybe i could get some sort of record from the inland revenue but i'm unsure. I've tried ringing GE Capital but i can never seem to get through. Can anyone help?

tiggrae

leggydan wrote: »

Hi everyone,
I've recently written to GE Captial to reclaim account cover insurance from my store card. They have disputed the fact that i said they have already had successful reclaim cases against them (as per article) but i also said in my letter that i was missold PPI as i was a full time student at the time and therefore unemployed. They said to this that if i can send proof of being unemployed (working under 16hours) they will investigate further. What kind of proof could i send? If i was claiming benefits that would be proof, but i was at university and didn't even have a part-time job at the time i opened the card. I thought maybe i could get some sort of record from the inland revenue but i'm unsure. I've tried ringing GE Capital but i can never seem to get through. Can anyone help?

do you have any evidence from say a student loan, or your entry fees to university - perhaps you ring / write to the college and ask them for a copy of details of your entry and length of course etc

tiggrae

lornz23 wrote: »

Hi,

I was sold Egg PPI (well i say sold but in fact i mean forced) after wanting to top up my loan. They told me they could only give the extra amount if I took out the PPI so I had to. I have tried about 3 times to have it cancelled Via email and have been told that i have to speak to someone about it. I have now sent them a letter to claim back the money that I have paid out on PPI. They were pretty quick with the first letter saying that they are looking into and someone will call etc etc. but i haven't heard anything since! This was about a month ago!

Has anyone had any luck with claiming back their PPI from Egg?

they have 8 weeks in which to make a final response

tiggrae

lg74 wrote: »

Hi there
My situation with lloyds is that I have been chasing for about 4 months for them to detail my accounts held with them and none of the letters or people spoke to have been able to give me a full answer - I know I had 4 credit cards with them and they cant even provide me that information. Have sent the standard letters to them and 3 months later they "are looking into them"!! Am also in a similar situation as its my word against there's so just wanted to give you some background and dont expect a quick response!!!

Good luck with it all though and hope you have more response than me ......

make a formal complaint to the information commissioner - under the Data Protection act 1988 they have 40 days in which to provide the information requested