PPI Reclaiming discussion

martin72

Could one of the experienced moneysavers help me out. I posted a week ago but had no replies.

Please help. Sorry if this sounds obvious (or should have been posted on an IVA thread) but can I still make a PPI claim if I have subsequently been IVA'd. I have read Martins article and am positive I have a case against my lender (EGG) on the basis I was told the insurance was a condition of the loan. Not only did my cover represent almost half of my repayments but when I broke my leg the claim was rejected on the basis that I hadn't been working full time before the accident. It would be nice to get something back as with the repayments I probably wouldn't have had to IVA at all! Thanks in advance,


Martin

darren74

After reading Martin's newsletter about the PPI reclaims, I dug out a Northern Rock loan I have and lo and behold, I have PPI with Pinnacle. Duly a letter was sent off to Pinnacle and 3/4 weeks later a letter arrived directing blame at Northern Rock who sold the policy in the first place. Great! Upon further inspection of said policy from Northern Rock, I noticed at the back of the loan agreement from them, a letter stating

"Followng a review of your personal circumstances (note: I'd been in 15 years continuous employment at this time) during your unsecured loan personal loan application, we have identified that you have a need for our comprehensive payment protection insurance for the reasons stated below, if due to an accident, sickness, unemployment, hospitalisation or death you are unable to meet your loan repayments:

You wish to reduce the likelihood of this loan adversley affecting your bank credit status
you are the sole/main income earner
you have stated that you have no cover in place to meet the repayments of your loan (I didn't state anything, the fact I had a mortgage and cover incase of ASR/Death for ALL finance I had didn't seem to register with them)
you have limited sick pay (12 months)
you have no access to savings

BASED ON THE ABOVE NEEDS IDENTIFIED WE HAVE RECOMMENDED THAT YOU PROTECT YOUR LOAN WITH PPI"

So today a letter arrived from Northern Rock with a telephone number to ring, rang it and I'm getting the run around.

Any advice?

Cheers

Darren

EDIT:

Eventually got through to them 5 mins ago and apparently I am going to have to take it further. A copy of their complaints procedure is being forwarded to me and I have to prove I was mis-sold the PPI in the first place!

Hmmmmm......

prutter

Sent off my first letter last Friday (7th Sept) to reclaim PPI from a Nationwide loan.

In my opinion I was misold. I actually paid the loan off a year early in May of this year.

Fingers crossed - will keep you all posted.

Anyone had any joy reclaiming from Nationwide?

regularsaver1

darren74 - the fact you had cover for the mortgage would be totally separate for the loan. They would have been looking at cover for the loan, not the mortgage

Renrut

I am trying to cancel a PPI taken out with an Abbey Loan. Do I write to the Abbey or the insurance company that Abbey use. If Abbey what address is best to send the letter to. Does anyone know?

gt568

Renrut wrote: »

I am trying to cancel a PPI taken out with an Abbey Loan. Do I write to the Abbey or the insurance company that Abbey use. If Abbey what address is best to send the letter to. Does anyone know?

It was my understanding that you should send the letter to the branch that you took out the loan with. That's what I did.

munchiemac3

Hi

I have recently sent out 10 letters asking for all the PPI I have taken out to be refunded. So far I have heard back from Black Horse :eek: who have said my claims are unfounded and that p.s I am in arrears with my existing loan so I had basically better pay it. :mad: I also got a much nicer one from Capital one who said as I got the card on the internet they could not check if I did or did not tick the ppi box and that I had had 44 statements from them so I should have noticed.
I have written both back with the second template letter so will let you know what they say. Nothing yet from the other eight but you can but try.
Due to the info on this fab website I have currently 20 pending app's ( bank charges and such like), have recieved £750 from LLoyds and £300 from Capital One. If I get it all its in the region of at least £10K. Fingers crossed to all:D

kris_egerton

HI CAN ANY ONE HELP ME

JUST TRIED TO CANCEL MY PPI WITH TSB AND WAS TOLD I COULD'NT BECAUSE YOU ONLY HAVE 30 DAYS AT THE START OF THE LOAN TO DO THIS . IS THIS CORRECT OR CAN THEY NOT STOP ME FROM WANTING TO CANCEL IT:mad:

munchiemac3

kris_egerton wrote: »

HI CAN ANY ONE HELP ME

JUST TRIED TO CANCEL MY PPI WITH TSB AND WAS TOLD I COULD'NT BECAUSE YOU ONLY HAVE 30 DAYS AT THE START OF THE LOAN TO DO THIS . IS THIS CORRECT OR CAN THEY NOT STOP ME FROM WANTING TO CANCEL IT:mad:

Hi,

I got a letter from Lloyds about my PPi and they told me
QUOTE
"as you stated in your letter, you don't see the benefit of PPi then we can get this removed, as is your right. Your monthly payments would be reduced by the amount of the insurance premium. i would make you aware though that you would be responsible for full payemnst regardless of any change in your circumstances"!
They are trying it on, get back on to them as they should be giving customers all the same info. Shouldn't they?
Hope that helps and good luck

prutter

prutter wrote: »

Sent off my first letter last Friday (7th Sept) to reclaim PPI from a Nationwide loan.

In my opinion I was misold. I actually paid the loan off a year early in May of this year.

Fingers crossed - will keep you all posted.

Anyone had any joy reclaiming from Nationwide?

Had a reply from nationwide yesterday (12th sept) basically telling me to 'get lost'.
So, letter 2 will be going out today. It's worth a shot anyhow!