PPI Reclaiming discussion

m.colak

freedom2b wrote: »

I received my loan policy details back from Halifax to find that,yes I did have Personal loan repayments cover insurance... but on the aggreement I never signed either the"No" or "Yes" boxes to take out said insurance,they were both left blank yet they still went ahead and clobbered me anyway!!

I have just downloaded the next letter to claim that I was misold as 1, I never signed the agreement for cover and 2,I was selfemployed at the time!!

Any comments,also waiting for news from Halifax re reclaiming charges....I feel so jaded as you are meant to be able to trust these institutions...and they claim they look after you!!!

As pointed out by myself and Tiggrae in the past the HBOS group are a canny lot and will fob you off hoping to 9/10 desuade you from claiming from them. Usually the only course of action is to take them to court but i only recommend this if you can roughly work out how much is owed to you. The easiest (less work related method) is by involving the FOS (after 8 weeks or correspondance) but unfortunately the current load means case usually take between 6-9 months.

m.colak

mattC wrote: »

Hi All

My partner took out an Abbey Loan in March 2006 and we feel she was mis sold a ppp costing £3771.75, :eek: we have recently written to them requesting a full refund of the premiums paid to date using Martins template, yet they say they have not received such a letter, despite it being signed for on the 10th of January.

We obtained a settlement figure last Feb and it was only then we discovered my partner repayments were paying off the ppp before the actual loan :mad: we then requested the ppp be cancelled but the Abbey said that was not possible.

They are also saying my partner cannot give authority for me to speak to them regarding her account and if she wishes to cancel the ppp she will have to take out a new loan.......not a revised one! :mad:

Basically the Abbey are being difficult and not willing to assist in this matter........has anyone any expeirence with the Abbey that may help us.

Many thanks.

First of all the situation isn't un familiar than others with other banks. The problem here is the bank doesn't want to go through the tedium of having to

a.work out what the payments would have been if they hadn't screwed you
b.admit they had screwed you and pay you all the money back.

You options are limited here unfortunately. In a severe case i have to recommend the FOS cause they can sort the bank out forcing it to recalculate payments and refund you any amount which was erroious. As mentioned before this can take 6-9 months though. In the event that banks will not accept you interference get you partner to draft a letter to the bank stating that you will now be dealing with the account on their behalf (that means they can't ignore you) get it registered again. Make sure to keep full records of every letter sent and do not correspond by phone always by letter.

m.colak

hollydawn wrote: »

Here"s an interesting one:

I have a TSB Platinum card which currently has a PPI of about £100 per month. I was about to send off a claim because I was self employed (and have been for 25 years) when I took the card out. Then I realised that three years ago I became a limited company and am technically "employed' by the company

So - a couple of questions :

1) What's the success rate of self employed people reclaiming from Lloyds TSB?

2) Will the change from sole trader to Limited company affect my claim?

Thanks for any advice

Hi well can't quote statistics however PPI supposely protects you from unemployment and if your self employed you wouldn't require it QED missell. The loan was taken out when self employed so it doesn't effect your claim as it was missold.

m.colak

lilal wrote: »

can anybody help me .do you have or had taken out a policy underwritten by cardif pinnacle and they have never supplied a policy document .:mad:

I guess you have spoken to then and requested one. If not this is your first step. If they are unwilling or will not provide such statement inform the information commisioner whom can enforce the company to supply said paperwork or heavily fine them. He can also provide advice where to go next if they still will not provide the information.

m.colak

Financial_Savvy wrote: »

Here is my situation. Have I been mis-sold?

When I took out my first mortgage for £50K, I also was 'advised' to take out a critical ilness cover for about £13 a month.

I cancelled this policy a few years ago, as I found out that my pension pays 6 month half pay and 6 month full pay.

Would there be a situation that the critical ilness cover would pay out?

Have I been mis-sold?

Thanks
Financial_Savvy

Sorry am confused critical illness cover is for illness such as cancer, disabilities etc critical usually meaning terminal (but not always) which means that the mortgage will be paid off in the event of said critical illness taking place. Your pension unfortunately doesn't bear on this as it is a policy take out by yourself (or supplied by a company) who's shortfall or ineffectiveness unfortunately have nothing to do with the policy of the mortgage.

a11waysindebt

Hi,m.colak.

Have you any more info on this part of your reply earlier.


The easiest (less work related method) is by involving the FOS (after 8 weeks or correspondance) but unfortunately the current load means case usually take between 6-9 months.

Thanks

m.colak

chelcon wrote: »

Hi currently going through the whole PPI reclaim with capital one cc, Blackhorse DFS sofa PPI (Seen others here with exactly the same thing happening) and IGroup/Purple Loans now GE Money...

Right today bored at work (work from home) so started having a moochy at my other loan as I remembered actually cancelling the PPI and in writing January 07... yippee do dah...
BUT..here goes

May 2004 take out loan for £6000 (60 Months) with Virgin (MBNA) still have some of the paperwork hooray...
£6000 loan
Insurance advance £1,103.41 (I just don't know can't remember)
Total loan amount £7,103.41
Interest charge £1,462.72

December 2006 arrange for loan to be converted to new loan with Virgin (MBNA) £15,000, settle above loan £3,642.47

was advised by lady from Virgin that as I had payment protection already this would just automatically roll over to new loan... hmmmm glad she told me about it so could cancel lol

January 07 cancel insurance on new loan... in writing and over telephone duly done but me thinks have been hammered or am being hammered with interest..on policies I don't have...
new loan details
£15,000, Insurance £5,943.00 = total £20,943

interest for insurance £1905.72

How stupid am I today I read the actual insurance policy that either ends after 10 years or when loan paid... so how could my insurance roll over to new loan... and first loan 5 years, 2nd loan 7 years so either the first policy too long.. or not long enough in roll over and 2nd policy would of been too short... arghhh think case of misselling there but its the fact I may be paying extra on my loan to cover the interest for insurance I don't have... would I have a case to reclaim all this interest they have bounced on to both loans

Thanks for any help...

Stop breath in feel better....ok. First of all had three loans with black horse each time settling with another loan. Guess what you check you're policy documents and claim back the PPI on each loan individually never believe the bank as all there after is generate more money. Check the statements and start reclaiming now.

Welsh_Adey

Hi All,

I have had a response saying that I have not been paying any PPI, but Payment Break Plan, which is not insurance and it is not subject to the GISC private code. (any ideas what that means)

It goes on to say that I "enrolled on 5 Jan 2007 at 4.35pm by speaking to a Customer Services representative at Monument and as a result of this telephone conversation your card was activated and you were enrolled in the optional Payment Break Plan"

Which I thought was a little strange, because the reason that I phoned was to complain because (basically i had not worked in the UK for around 8 months in 2006, as my employment was canceled, and i went to live in sunny ibiza for 7 months) i did not know i had this Payment Break Plan, and i called monument (when i came back, Oct/Nov time) to say I could not pay my minuium, and they did not mention it here that I was covered, and it was in Jan that they said that i had Payment Break Plan all this time. I am sure that I got some statements that date back before Jan 2007 and it shows that I have been paying the Payment Break Plan.

Can someone tell me if this Payment Break Plan is totally different from PPI. I will check statments this evening, and see if I was paying any Payment Break Plan before I called them on the 5th. Any ideas about this?

LISAW_2

I have lodged my complaint with the FOS but it is killing me that I will be waiting at least 6 months.

I have drafted this letter;


REF; *****



To Whom It May Concern:

With Reference to the above, I would like to thank you for your prompt response to my enquiry. Unfortunately, you have not offered me the outcome I feel is appropriate.

I have taken my complaint to the FOS, on the basis of your advice. The FOS have agreed to take on my complaint, as they believe the timescales you quoted do not apply in this case. The reference number for this is ******** and my complaint is currently under investigation . They are working on the misrepresentation act of 1967 amongst other things.

I am also aware of other customers in the same situation as me and have had a different decicion. One letter from you actually states “the loan was taken out some time ago it was unlikely that anyone would be able to recall if you was asked if the ppi was suitable for your needs, because of this, we are prepared to offer to refund the premium plus interest." I am concerned that you are not treating all of your customers the same, which I believe is also unlawful.

This is a courtesy letter to ensure you are aware that the complaint has gone to the FOS and will go to court if essential. In the instance, however, that you would like to review your decision, please contact myself direct.

Kind Regards,

What do you all think?? Worth sending as a last chance saloon type thing??

Cheers
L

geefunkull

hi all. would like to know if any one has the aswer for this. I have a loan with northern rock and have ppi, after reading this site i called and asked to cancal. They said i would need a new credit check on me to do this, as it would be like taking a new loan out. Sounds fishie to me, Please help