PPI Reclaiming discussion

alex_77

Hi I got a secured loan from above and was told that I couldn't have the loan with out the getting the insurance. The loan and PPi payments are huge... they say after 5 years you get the money back if you haven't claimed.... but that means I have spent 5 years just paying insurance and wont have made a dent in my loan... is it possible to take them on??? and cancel the insurance so I can just concentrate on the loan...
does anyone have any advice... pllllllllllleeeeeeeaassssee x:eek:

BBB

Welcome finally got back to me, saying all their staff are trained, need proof that I was missold, etc etc. what now?

smitchy73

If you read through the thread and Martin's article, when you claim to have been mis-sold for whatever reason and for mis-representation, the onus is on them to prove that they did sell it properly etc, they HAVE to prove it, not you.

KP221980

Hi,

i have sent letter 1 to barclays credit card back in november, they sent back and said the matter would be resolved by 21st december, so i waited, and waited and waited, no reply, so i sent letter 2 off on the 31st december which says they have 2 weeks to reply, and guess what...... still no reply, what do i do now?? any suggestions.

chris_spackman

Can i claim Welcome Finance if the loan was taken out in 2004?

gt568

chris_spackman wrote: »

Can i claim Welcome Finance if the loan was taken out in 2004?

Absolutely

gt568

alex_77 wrote: »

Hi I got a secured loan from above and was told that I couldn't have the loan with out the getting the insurance. The loan and PPi payments are huge... they say after 5 years you get the money back if you haven't claimed.... but that means I have spent 5 years just paying insurance and wont have made a dent in my loan... is it possible to take them on??? and cancel the insurance so I can just concentrate on the loan...
does anyone have any advice... pllllllllllleeeeeeeaassssee x:eek:

Was your PPI mis-sold? Have you read the article? It explains everything in it. Have a read and then come back if you have more questions.

chris_spackman

gt568 wrote: »

Absolutely

Can i send you a letter i have drawn up. i know that there are templates on here but as this seems to be such a complex thing i had to write it as i see it. I would also like to know if the fact that the loan was started a fresh i can still ask for all the money back from 2004 when the agreement was re started?

cocker100

alex_77 wrote: »

Hi I got a secured loan from above and was told that I couldn't have the loan with out the getting the insurance. The loan and PPi payments are huge... they say after 5 years you get the money back if you haven't claimed.... but that means I have spent 5 years just paying insurance and wont have made a dent in my loan... is it possible to take them on??? and cancel the insurance so I can just concentrate on the loan...
does anyone have any advice... pllllllllllleeeeeeeaassssee x:eek:

Hi,

You are not alone with First Plus. There are plenty of people in conflict with them at the moment. If you were told that you couldn't have the loan without the insurance, then you definitely have a claim. The first thing to do is send them a letter using the template letter that Martin has set up. Use the bits that apply to your claim. They will probably say that they are not at fault, but stick to your guns. If they refuse to refund you, send another letter saying that you are prepared to take them to court. You could also go the Financial Ombudsman, but this would take longer than the court route.

Regarding cancelling the insurance, you can do this if you want to, but it will hardly make a difference to your monthly payments. Believe me, I know from experience,:mad: so I decided to not cancel. They will tell you that it is all in the terms and conditions of the loan agreement. I would advise you to keep it going and then claim it all back later.

Hope this helps.

mr_no_name

Hi,

I'm after a bit of advice please...

I purchased a new car in January 2002 through Ilkeston Co-op motor group and took out Renault finance with/through them. The ppi was mis-sold to me by a car salesman on the basis that I wouldn't be approved for the loan without it! Ilkeston Co-op are now part of Midlands Co-op. I have sent the first template letter stating my claim, and they have written a letter back saying that they have taken over all legal and financial responsibilities for Ilkeston Co-op (which seemed promising), but then go on to say;

'I am afraid I am unable to offer you any comfort in this regard as at that point in time there were no regulations in place concerning such matters. The regulations under which you believe you may have a claim were not put in place until January 2005, consequently claims prior to this date cannot be considered.'

Are they correct in what they are saying, or are they just calling my bluff? Is this when I send letter template number 2 or is it dead in the water? I think they are just trying to put me off cause Martins article advising about this says we can claim up to 6 years back!

Please help... what do I do next...?