PPI Reclaiming discussion

m.colak

cornflakegirl wrote: »

Anyone else have any advice please? Thank you

Right first of all protracted correspondance just means than they won't bother answering any more letters from you on the matter. Don't worry to much though. If you are dead set that you were missold PPI then send one more letter to the effect of...

I writing to inform you that i intend to take court action against yourself's in regard to the policy ...... citing that i missold the policy laid down by the conditions set in the mis representation act of 1967. To this end i intended to claim ..... (or whatever offer you think is resonable) plus the statuatory 8% interest which the courts will grant me. If i don't receive a satisfactory response from yourselve's in 14 days i will deem this your wish and continue with court action........

You can fluff it up abit but the main gist of it is that the bank/company have to now prove that they didn't missell the policy to your and they had full notes of the application etc. Hope this helps

m.colak

PLounge wrote: »

Hi

About 10 years ago I had a loan from what was the Bank of Scotland and like so many others I took the PPI after being told it would enhance my application.

The loan was over 5 years with PPI every month alongside the repayment but included in the monthly payment.

After nearly 18 months I got into difficulty and defaulted on the loan which resulted in me paying a fixed amount through a recovery agency, Blair Oliver and Scott, which I have been paying ever since.

At the time I defaulted I was told that all the interest would be added to the outstanding balance.

I contacted them nearly 2 years ago to find out how much I now owed and found to my horror they had added all the PPI charges/payments aswell.

I tried to contact the BOS to be told that the policy was for the lifetime of the loan and I would have to contact the insurance company.

I then contacted the insurance company as I had been out sick from work with a bad back for nearly 16 weeks the previous year, but well past the 5 year loan period, who informed me that the policy had expired 4 years since.

I went back to the BOS who basicly told me tough luck...."We had to pay the policy so we are getting it back from you"

Sorry about the build-up but my questions are.....

1. Can I claim a refund from the Bank of Scotland?

2. Can I claim a refund from the Insurence company?

3. Can I claim at all?

I have been through the info pages on claiming but the template letter, I think, does not cover my problem.

Any help on this would be greafully received.

I'm sorry to say that unless you can prove that the PPI was missold to yourself you can't receive a refund. If you can prove that you were missold that bring action against the bank initially for the 18 months of PPI you paid plus the 8% statuatory interest. The main point of this is that if you can get the bank to admit that it missold you the PPI then you can then go to BOS and tell them that the PPI was missold and therefore there claim for the PPI element is with the bank and not yourself and for them to amend their calculations relating to payments made and interest accordingly else you will take them to court for refund of PPI charges which you have paid which you are not accountable for (if that makes sense.)

The main point of this is you have to prove that the policy was missold, the bank settling out of court is no good as it proves nothing (no admission of guilt). Good luck

m.colak

linzi_pinzi wrote: »

hi every1

does any1 knows what i should do next ..the story is ,i am reclaiming my ppi from loans .co.uk they have told me they r upholding my complaint on the 2nd nov 07 will b in touch takes about 4 weeks ,i have rang and rang them before xmas they told me that ge money will b sending me the payment 4 the full amount of the policy plus 8% interest.
still havent received anything rang loans last week lady said they will get onto it 4 me i havent had anything this week so rang everyday this week the lady who is dealing with it is off sick, so i asked is there any1 else who can help me they said no its only that 1 person that deals with these complaints....what should i do next ,,not very happy:mad:

Did you get the confirmation of payment in writing or by phone because that may be your problem. Always ask for confirmation by letter. I would now consider taking the company to court as obviously they have no problem stringing you along. On another note don't send a letter of settlement to the court until the cheque clears!!!!!!. Probably wouldn't go by the FOS as they seem to have believed they have a weak case and will easily settle out of court and you can also demand compensation due to the stress etc.

linzi_pinzi

m.colak wrote: »

Did you get the confirmation of payment in writing or by phone because that may be your problem. Always ask for confirmation by letter. I would now consider taking the company to court as obviously they have no problem stringing you along. On another note don't send a letter of settlement to the court until the cheque clears!!!!!!. Probably wouldn't go by the FOS as they seem to have believed they have a weak case and will easily settle out of court and you can also demand compensation due to the stress etc.

thank you 4 the quick reply m.cloak

no the only comformation i have is the letter they are upholding the compliant and will be contacting me when have the correct figures ..because i never heard anything i have always phoned them ...do you think i should write them a letter asking for the payment or i will take them court within 14 days ?

Drummie_2

Hi guys
New to the site but have been claiming and using Martins help for a while now!
Anybody had any experience claiming PPI from EPF (endeavour personal Finance)?
Have sent in the FOS anyway so will let everyone know the outcome!

PLounge

m.colak wrote: »

I'm sorry to say that unless you can prove that the PPI was missold to yourself you can't receive a refund. If you can prove that you were missold that bring action against the bank initially for the 18 months of PPI you paid plus the 8% statuatory interest. The main point of this is that if you can get the bank to admit that it missold you the PPI then you can then go to BOS and tell them that the PPI was missold and therefore there claim for the PPI element is with the bank and not yourself and for them to amend their calculations relating to payments made and interest accordingly else you will take them to court for refund of PPI charges which you have paid which you are not accountable for (if that makes sense.)

The main point of this is you have to prove that the policy was missold, the bank settling out of court is no good as it proves nothing (no admission of guilt). Good luck

Thanks for that.

You mention that I would be able to claim for the 18 months plus interest. I'm a little confussed by this as I thought if I could prove I was mis-sold the policy I would be able to claim it all back.

I seem to remember that I filled in the form and sent it off then had a call from them "to go through a few details". It was then I was told about how PPI would enhance my application.

As it was a long time ago I would need a copy of my original form to see if I had asked for PPI.

Stillsmiling

Stillsmiling wrote: »

Advice needed please. I wrote to First Plus on 2nd November. They promised a response by 7th December, then by 7th January and now they say they still haven't managed it but will try and respond by 28th January. They have sent an Ombudsman booklet and said I have the right to contact them now as they haven't replied in time.

So do I go straight to the Ombudsman or give First Plus a little more time?

Can anybody advise please?

TL_Scud

Hi all, newbie here, I have been lurking for a while and am now trying to reclaim my PPI from a secured loan with Paragon Finance, they have replied - exceptionally quickly - that I need to take this up with the broker, this was HFS, now Capital One Homeowner Loans I believe.
Has anyone got the address for Capital One Homeowner Loans, it is a nightmare trying to find it, all I can find is the credit card address.
Should I approach these or send the second letter to Paragon and see what happens there?

tiggrae

cornflakegirl wrote: »

Anyone else have any advice please? Thank you

It means they want you to go away !!! Lodge your claim with the FOS and send a copy to them as 'a courtesy'

tiggrae

Stillsmiling wrote: »

Can anybody advise please?

really does depend when you took out the insurnance as to whether you can actually take your complaint to the Financial Ombudsman - if it was prior to 15th January 2005, I don't believe they came under the FOS jurisdiction at this point.