PPI Reclaiming discussion

gigsy

I have sent of my letter to the FOS. Just wondered if I should let Barclays know or not. They sent me their final decision on the matter and advised me to go that route afterall.

Scottrobson

I recieved the exact same letter basically word for word. I went straight to the financial ombudsman and they are dealing with the matter now.

cocker100

millie1 wrote: »

Hi. Some of you may remember that I am trying to reclaim nearly £10,000 PPI from First Plus, sold as a single premium policy. After sending template letter they have replied saying they cannot uphold my complaint. They say this is because at the time they sent me a policy booklet which explained the policy (and that upon early settlement the refund would be partial), and that the figures were broken down to us over the phone.

To recap, we ended up paying £10k over and above our loan amount on PPI which we had no idea we had been sold ie no idea that we'd borrowed £10k more than our loan amount.

What do you think we should do now? Do I go to the Financial Ombudsman now, or send one more letter, saying that their reply is not acceptable, I want £10k refund and they have 7 days to reply. It will be 8 weeks from original complaint letter this Friday.

Any advice much appreciated.

Hi,

I am trying to claim back over £11000 plus interest from First Plus. Like you, I got the standard fob off letter saying exactly the same as yours did. I sent a second letter asking them to look at it again before saying I would go to the Ombudsman. They never even replied to this one!!!

After this, I read through the FSA's website looking for any evidence that I thought could help my claim. I found sereveral amonalies regarding the layout of the loan agreement. Basically, mine never mentioned anywhere the total amount payable for the ppi including the interest if the ppi was paid back over the full term of the loan. This is against the FSA's rules which state they must "disclose the total premium, the interest payable if the premium is financed by a loan and the total amount payable (i.e. premium plus interest) a seperate monetary amounts. This information should be presented in a way that is clear, fair and not misleading."

I used this info, plus other useful info from other posts in this thread about The Misrepresentation Act 1967 to write a third letter threatening them with court action if they dont pay up within 14 days.

It has only been a couple of days since I sent this off and am eagerly waiting for a response.

Hope this helps.

pokey15

pokey15 wrote: »

Bit new to this so please be gentle....

Took out a secured loan of £30klast October with Paragon thru brokers Loanmakers,on top of the £30k was a £6k PPI.
Have written to Paragon t to get the PPI refunded and a new loan fiqure . They sent me a snotty letter came saying it wasnt there problem it was Loanmakers as they were my broker,I sent off another letter to their complaint dept,they have just written back saying yes it was Loanmakers problem and to take it up with them,although they are stopping the PPI and will have a new loan fiqure for me soon.Forgive me if im wrong but Loanmakers just checked my criteria found the loan I was needing and passed me onto Paragon who0 went thru everything again.The loan,the paperwork,everthing is with Paragon so I dont understand why its the brokers.(Are they trying to fobb me off?)
Anyhow Ive now sent a letter to Loanmakers so fingers crossed.
Will the fact that Paragon have stopped the PPI affect my chances with Loanmakers.
Any advice greatly appreciated

Pps
Thanks to this great site have managed to reclaim £330 in bank charges,£96 in credit card charges and only yest managed to get my Virgin deal cut by £25 a month:j
Martin your a star:money:

Hi Folks
Finally Loanmakers have replied to my claim and surprise surprise they claim it was sold in my best intrest due to the imformation provided in the interview:mad: and basicly you signed so tough

Any ideas folks

Pleeeeeease

mel5818

Hi there can anyone give me any advise.
Bascially have had 2 loans with Nat west and both time had ppi as they sold it as part of the package, as if i didnt have it then the loan wouldnt be offerered. Have paid about 6 years of ppi. Did send a letter off to them with the help of Martins template explaining why I wanted it back.
That was on 14/11/07, they wrote on 10/12/07 saying that they would get back to me on 07/01/08, which they have, now saying that there is a delay with the compaint and they will be in touch!!! when i dont know??? has anyone else had this responce from them, or does anyone know what the next step should be!

smitchy73

Mel5818,
If you've already given them the 8 weeks for the first letter, this is to allow them to investigate and send a final response, Martins 2nd template letter says to give them a further two weeks before sending off to FOS, this sometimes gets them moving from what I've read on here, and if they still don't write back to you then it's more in you're favour because the FOS don't take too nicely to the banks not even responding.

Although if you've already given them that amount of time just fill in the forms and send it away to FOS and good luck.

gt568

mel5818 wrote: »

Hi there can anyone give me any advise.
Bascially have had 2 loans with Nat west and both time had ppi as they sold it as part of the package, as if i didnt have it then the loan wouldnt be offerered. Have paid about 6 years of ppi. Did send a letter off to them with the help of Martins template explaining why I wanted it back.
That was on 14/11/07, they wrote on 10/12/07 saying that they would get back to me on 07/01/08, which they have, now saying that there is a delay with the compaint and they will be in touch!!! when i dont know??? has anyone else had this responce from them, or does anyone know what the next step should be!

I had similar dealings in my succesfull natwest reclaim. After the expiry of the 8 weeks I sent the letter in post number 1389. I got a full offer on the 13th day of my sencond deadline.

Bear in mind because of the timescales involved you may not be able to go to the FOS and may have to threaten court like me.

gigsy

gigsy wrote: »

I have sent of my letter to the FOS. Just wondered if I should let Barclays know or not. They sent me their final decision on the matter and advised me to go that route afterall.

I have faxed them this morning and also added to the letter about misrepresentation. Let's see if they reply. It's now in the hands of th FOS.

m.colak

pokey15 wrote: »

Hi Folks
Finally Loanmakers have replied to my claim and surprise surprise they claim it was sold in my best intrest due to the imformation provided in the interview:mad: and basicly you signed so tough

Any ideas folks

Pleeeeeease

Pokey send the second letter but use the typescript that tiggrea discribed earlier in this thread where you utilise the 1967 Misrepresentation Act in your favour. Especially the part which you state the policy was mis sold. This puts the company in the position where they have to prove that they didn't miss sell. Utilises this act if you want to take to court as you are basically saying you were pressurised into taking the PPI with the loan even though you didn't want it and second of all you weren't even told it was optional.

katiekittykat

Had no joy with Natwest (keep fobbing me off with give us another 2 weeks letters) so have written my 2nd letter today and is going to be posted shortly!

Thanks to all those who helped me

xxxx