PPI Reclaiming discussion

darren74

Hello again

Well Northern Rock have replied by letter this time to my request for PPI cancellation. In it they state

"If you wish to remove the cover from your loan you can do this by contacting your Sales Department. They will be happy to quote you a settlement figure to reschedule your loan. We will honour the APR on your present loan of 9.9% and remove the credit search"

They have given me two weeks to respond. What should I do as there is no mention of paying back what I consider to be a cover which I did not need in the first place and also the fact that they will "Quote me a settlement figure".

Anyone? Martin?

Cheers

Darren

thomas0735

I took out a loan from the AA in 99 but have since defaulted on the loan and recently had a letter about it from a debt collection agency. Can I still claim the PPI back if I haven't repayed the loan? I took a loan out for £5100 and it came to over £10,000 with PPI and interest etc

flyhawkeye

I took out PPI against a credit card, it covered most but importantly me becoming a carer. When my contract with work ended my partner and I decided I should become my sons carer (he has Crohns disease and is 7). We took this step because of the ammount of time he is ill and needs care.

So, I applied for my card balance to be paid in full as per the agreement, after some investigation by the insurers they refused the claim stating "The policy had been taken out after we had first contacted a doctor about my sons illness". The fact that this illness was not dianosed until after the agreement was signed made no odds. Therefore This is classed as a "pre-existing condition"

Could I claim a refund citing mis-selling?

yozza1981

Hi,

I am hoping someone can advise me if I have a case for PPI reclaim?

I took out a virgin card approx 2 years ago for a low rate balance transfer offer, when I completed the application on line i did nit ask for PPI as I never take this out on any card or loans that I get as I have life insurance and critical illness cover so do not feel it is necessary.

However when I was reading this article I checked all my credit cards and low and behold find that I have been getting charged approx £30 per month for PPI on a balance of £4000.

I have never noticed this before now and I am sure i would never of requested it or if I did I was mis sold the product.

Is this grounds for a reclaim and should I cancel my PPI now or send them a letter from the template to ask for a reclaim and cancel at the same times?

Any help would be greatly appreciated.

Thanks

Kerry

rachelthomas1

Hi

I was just wondering if anyone had had any luck with reclaiming PPI from First Plus?

Cheers!

sarzit_2

PLESE PLEASE give me some advice. If you guys don't help I have no-one else to check with...

I have a loan with 1st Plus for 300 months (stupud!), and the insurance I have since found out only covers 60 of these. Having read the policy document, it does say that 1st Plus do a cashback on the PPI if you don't claim in these 60 months, and they have confirmed that this will happen.

However, the policy in the first place was mis-sold as I had no idea it would only cover the first 60 months - I would never had started it and paid £12K for something that covered for only 1/5th of the policy term.

So the original loan was for £50k
The PPI total was £12,245

They have told me on the 23rd October I will receive 'Cashback' of the PPI MINUS a 5% insurance tax premium - so it's not quite the full amount.

BUT, the total amount of the loan was calculated at £62,245 (including the PPI), so I will still be paying interest on the PPI amount for the remaining term of my loan.

This is such a rip off as I calculated that I will have paid over £30k in re-payments just for the PPI (my calculations are very rough)

Do I have a case in somehow making 1st plus not calculate interest on the PPI amount for the remainder of my policy? Because I shouldn't have had the policy in the first place, surely the interset should be calculated on the £50k that I actually wanted and received. 1st Plus will be sending the 'cashback' cheque in October - but should I be writing to them and arguing for more?

I hope this makes sense. I'm terrible with financial information and understanding their documents, hence the mess I am in!

Any advice would be appreciated.

gio67

Hi guys,
I sent my letter to the bank reclaiming my PPI of my loan almost 3 weeks ago, asking for my money back. I didn't receive any letter from them but a strange phone call from the bank admin department.
They say that they were calling just as a courtesy call to check that everything was ok with my account, try to investigate about my satisfaction about my account and try to be very helpful regarding my debt how to consolidate my loan, when i arise the matter of the PPI they were quick to offer me a new loan without the PPI and to cancel my existing PPI on the exisiting loan, i thought they were trying to negotiate a way out for the to avoid to refund me th money that i paid for the last 4 years. I didn't accept any of the offers and i told them that i was waiting for a writing answer and i was insisting for my money back.
Did this happen to any of you?
please help...is it a good sign?
thanks

lesley65

sarzit wrote: »

PLESE PLEASE give me some advice. If you guys don't help I have no-one else to check with...

I have a loan with 1st Plus for 300 months (stupud!), and the insurance I have since found out only covers 60 of these. Having read the policy document, it does say that 1st Plus do a cashback on the PPI if you don't claim in these 60 months, and they have confirmed that this will happen.

However, the policy in the first place was mis-sold as I had no idea it would only cover the first 60 months - I would never had started it and paid £12K for something that covered for only 1/5th of the policy term.

So the original loan was for £50k
The PPI total was £12,245

They have told me on the 23rd October I will receive 'Cashback' of the PPI MINUS a 5% insurance tax premium - so it's not quite the full amount.

BUT, the total amount of the loan was calculated at £62,245 (including the PPI), so I will still be paying interest on the PPI amount for the remaining term of my loan.

This is such a rip off as I calculated that I will have paid over £30k in re-payments just for the PPI (my calculations are very rough)

Do I have a case in somehow making 1st plus not calculate interest on the PPI amount for the remainder of my policy? Because I shouldn't have had the policy in the first place, surely the interset should be calculated on the £50k that I actually wanted and received. 1st Plus will be sending the 'cashback' cheque in October - but should I be writing to them and arguing for more?

I hope this makes sense. I'm terrible with financial information and understanding their documents, hence the mess I am in!

Any advice would be appreciated.

hi

i am not an expert on ppi but just wanted to let you know that if you go on to the consumer action group website there are lots of threads that deal just with ppi reclaiming, i have had some fab advice and help from there and i'm currently reclaiming four mis sold ppi's, post this thread on there and you'll get all the help and advice you need.

sorry i can't be of more help

good luck x x

Richard0803

My question:

I took out a secured loan in 2003, I had to have the insurane paid for upfront therefor I had to borrow extra money. I stressed that if I paid up thios loan early I would want all the insurance money that hasn't been used back. I was told this wouldn't be a problem.

I paid the loan up within 20 months and cancelled the insurance and told the company that I wanted the unused insurance back, as was agreed. They sent me about 1/4 back of what was outstounding, and I have been trying to get the rest since.

When I threatened the company with court a letter arrived to be saying that it would all be sorted out, I recieved a letter offering me about 10% of what wa outstanding,which I refused.

I'm about to send another letter stating I am happy to take them to court, can anyone offer any advice or help before I send this letter?

donnag_3

I have a clyesdale bank mastercard with ppi, when i applied for it it was a form i filled in so i didnt actually speak to anyone but as far as i can remember there was no questions about medical history etc, the insurence provider has since changed to sentinel they also have never asked any questions nor sent me any information on how to claim or a certificate of insurance, or anything at all come to think of it, and there is no info on the site regarding my problem i was wondering if any one could help me as to whether i could reclaim or not, thankyou.