PPI Reclaiming discussion

sussexsimba

m.colak wrote: »

Most banks rely on people giving up and know if they send enough people the FOS route it can cause bigger delays in processing. You can always go via the FOS and providing there's a negative decision go via the courts. However throughout this you have to work out what time limit your working too. If you go via the FOS they will work out what the payout should be plus the statuatory 8% interest however if you go via the courts you have to work this out and then work out what your settlement figure would be. Hope this helps.

I also have been refused a refund on my ppi even though i was never offered the option of taking out ppi if in deed i did need it with anyone else had to be barclays own and got that in black and white but they still refused a refund so sent my paperwork to the fos, dont let them get away with it they make you believe by having ppi your loan is secure and will be granted but this is wrong

SC1970_2

Hi

I was hoping that someone could help me. Ive read through the forum, but can't find anyone with a similar problem to ours.

My other half and I are in a holiday club(a bit like timeshare). We took out the loans in Spain and Tenerife as there was a 3 month delay before having to make any payments, then when we got home we paid them off using either savings, or a loan company in Britain with a lower interest rate. The holiday company (Club La Costa) used GE Money for the loans and we have taken out 3 loans in the last 5 years.

The loans were all over a 10 or 15 year period, but the PPI only covered us for 5 years(which I only found out when I looked out the paperwork to reclaim).

We wrote to GE Money in December and received a reply reasonably quickly, saying they were looking into our PPI reclaim request. Within 10 days we received another letter from them stating that they had administered the accounts "in accordance with the information provided on the signed credit agreement" and that "as the supplier i.e Club La Costa UK Plc, sold this insurance policy to you, any questions as to the quality of the sale would need to be taken up with their offices directly".

It is shown on our loan documentation that the money is paid to GE Money and not Club La Costa, so should it be GE Money that we chase? And if so, then how do I now go about challenging their letter?

Any advice would be most gratefully received.
Thanks
Steph

SUFC

Hi,
Can you try to reclaim PPI if you've already claimed bank charges on same account? Also has anyone been succesful with a claim from Black Horse?
Thanks, SUFC

daynurse

hi my complaint regarding misselling of ppi is supossedly being looked at however at the time i requested the policy be cancelled recieved a letter today saying i am only entitled to 1300.00 rebate on a 8,000 policy not even 20% had the loan for 2 years not happy to say the least have emailed straight back not suprised they are making a fortune!!!! wish i could get rid of first plus loan but need a 125%ltv loan any suggestions appreciated
:mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad:

mac_saver

m.colak wrote: »

you need to send a letter asking for a copy of your loan agreement with all relevant breakdown's before you can proceed. This is the information telling you how the PPI was and how much the charge for the PPI was.... from these figures you can start working out how much too ask for.

I have the copies given to me at the time but the PPI figure seems to be "conveniently" omitted!!! will ask for a full break down and keep my fingers crossed.

Thanks again:T

tiggrae

daynurse wrote: »

hi my complaint regarding misselling of ppi is supossedly being looked at however at the time i requested the policy be cancelled recieved a letter today saying i am only entitled to 1300.00 rebate on a 8,000 policy not even 20% had the loan for 2 years not happy to say the least have emailed straight back not suprised they are making a fortune!!!! wish i could get rid of first plus loan but need a 125%ltv loan any suggestions appreciated
:mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad:

write and ask them how they have calculated the refund, I suspect you may only have been paying the ppi element of the loan for the last 2 years, without paying off any of the capital. For example if you had a loan + ppi for the 5 years totalling £5000 (£3k loan + £2k ppi), you think your repayments are a proportion of ppi & loan, but what happens is that you pay the £2k ppi in the first 2 years with the loan capital being paid off in the last 3 years.

RiaAnn

We are considering making a claim on PPI. The loan was completed last year but we still have a current account we are not keen to close. Are they likely to close it down it if we try reclaiming?

r6owned

hi all,
I took out 2 loans (totalling about £10k & incl PPI) with NR in july 2005, I tried at the time to opt out of the PPI, but the person who i phoned at NR said I could not...so obviously i was between a rock and a hard place so I had to have it.

so i've drafted 2 letters based on the template that will go in the post tomorrow...

I've looked on this site and I have not seen an mention of NR loans wise, or any successes with claims against NR...

all comments are very welcome.. please..including if i'm wasting my time due to NR's current dilema..

thanks Tony

daynurse

I have expressed how unhappy i am and said it is not a satisfactory rebate
as i am in dispute over misselling the policy its a different department!!!
I spoke to someone yesterday he said my misselling complaint should not take long he was going through the transcripts to which i have asked for a copy however these are not concrete as you are having a telephone conversation the person at the other end is typing in to there computer what is said! they could say i said allsorts " yes of course im happy to take out a policy for 8000 yes will only get pittence back but thats ok love, better in your pocket you keep typing !!oh did it cross your mind to ask about our health or exsiting medical conditions no, or the fact i get full pay for 6 months and half pay for 6 months pay if i was ill no must have missed that one!!! why would i need one???t they only pay out for 12 months i get that from work? i hope on the transcripts which i very much doubt it will say we had to have the ppi to qualify for the loan !!!!but you will get it all back honest!!! NOT basically they can say you said or they said anything once i get a bee in my bonnet thats it!!!!! i took a very well known puppy retailer to court couple of years ago they sold me a poorly puppy !went to small claims which was easy to do it was scary in the court room but its something i had to do they got a ccj on there record and had to pay all costs and i got my money back and vets fees and it wasnt the money though it was the principle
im not one to let things go so im ready to fight this i wont be scared off im expecting them to say no it wasnt missold they are going to see if they can scare us off so we give up !!!!but im afraid ill be going all the way will keep you in formed of any updates:D

MWH1

tiggrae wrote: »

Hi there under the Misrepresentation Act 1967 - under Negligent Misrepresentation the onus is upon them to prove they didn't negligently misrepresent to you rather than for you to prove they did.

Just a couple of real quick questions Tiggrae Am I within my rights to ask for copies of the loan application and credit agreement? If the loan company cant provide me with these documents, what is the score?

Top man by the way for helping everyone out! Cheers :T