PPI Reclaiming discussion

Stillsmiling

m.colak wrote: »

but surely it has the loan period and the number of payments give me the details and i'll work out the interest for you. PS only come on here when wifey and baby are asleep for a while.

Thanks, I think I've more or less worked it out. My concern was that First Plus handed included it on the agreement and I wondered if perhaps they should have?

andyauk

Hi All

I have today receiced Central Trusts final response, I took out a secured loan in 2002 with Paragon via Central Trust.

They have rejected my claims on the following grounds

• the product was not regulated by the Financial Services Authority at the time of sale
• Central Capital Ltd did not come under the voluntary jurisdiction of FOS at time of sale
• Central Capital Ltd was not members of the General Insurance Standarads Council (GISC) at the time of sale

so the question is do I go via the Financial Ombudsman or alternatively via the small claims court?

As always your advice is appreciated

thanks

Andy

gt568

andyauk wrote: »

Hi All

I have today receiced Central Trusts final response, I took out a secured loan in 2002 with Paragon via Central Trust.

They have rejected my claims on the following grounds

• the product was not regulated by the Financial Services Authority at the time of sale
• Central Capital Ltd did not come under the voluntary jurisdiction of FOS at time of sale
• Central Capital Ltd was not members of the General Insurance Standarads Council (GISC) at the time of sale

so the question is do I go via the Financial Ombudsman or alternatively via the small claims court?

As always your advice is appreciated

thanks

Andy

I'd go for the threat of court personally.

Boggerz

Hia, thanks a lot for this info.

I have had a problem with my ppi. I was told that I was to pay £60 per month payment protection back in 2005.

I unfortunately fell behind on payments on my loan, so I tried to catch up when I got myself sorted. I was advised by Alliance & Leicester that I could stop paying the PPI and use that money I would have spent on the PPI to pay off the arrears.

I tried to arrange this to cancel my PPI, but I was told by the bank that because I was in arrears, that they couldnt cancel my PPI. They could only do this is I was up to date on my payments. Is this true?

I then spoke to another adviser at the bank who said that I paid for the PPI at the begining of the loan so I couldnt stop the PPI. I said that my loan agreement states that I pay £60 per month over 5 years. She said that its just the way they do the forms.

This was almost two years ago now, and I am very angry that I wanted to cancel my PPI but I have paid £60 per month ever since.


Just to know if this is lawful really if anybody has a comment.]

Thanks in advance,

Boggerz

(Trying to sort finances for my future)

mdj1

Hi Boggerz

From the sounds of it you have very good case! I would tell them, pay it all back now or I will see you in court!

tiggrae

andyauk wrote: »

Hi All

I have today receiced Central Trusts final response, I took out a secured loan in 2002 with Paragon via Central Trust.

They have rejected my claims on the following grounds

• the product was not regulated by the Financial Services Authority at the time of sale
• Central Capital Ltd did not come under the voluntary jurisdiction of FOS at time of sale
• Central Capital Ltd was not members of the General Insurance Standarads Council (GISC) at the time of sale

so the question is do I go via the Financial Ombudsman or alternatively via the small claims court?

As always your advice is appreciated

thanks

Andy

You wouldn't be able to go to the FOS as they were not within their jurisdiction at the time the policy was sold - therefore, as GT says your only route would be the County Court

tiggrae

Boggerz wrote: »

Hia, thanks a lot for this info.

I have had a problem with my ppi. I was told that I was to pay £60 per month payment protection back in 2005.

I unfortunately fell behind on payments on my loan, so I tried to catch up when I got myself sorted. I was advised by Alliance & Leicester that I could stop paying the PPI and use that money I would have spent on the PPI to pay off the arrears.

I tried to arrange this to cancel my PPI, but I was told by the bank that because I was in arrears, that they couldnt cancel my PPI. They could only do this is I was up to date on my payments. Is this true?

I then spoke to another adviser at the bank who said that I paid for the PPI at the begining of the loan so I couldnt stop the PPI. I said that my loan agreement states that I pay £60 per month over 5 years. She said that its just the way they do the forms.

This was almost two years ago now, and I am very angry that I wanted to cancel my PPI but I have paid £60 per month ever since.


Just to know if this is lawful really if anybody has a comment.]

Thanks in advance,

Boggerz

(Trying to sort finances for my future)

what they've done is 'front end loaded' your ppi - in otherwords in a loan with ppi over say 5 years the first 2 years you paid for the ppi the next 3 years you were paying the loan capital plus interest - the Financial Services Authority have stated this is unfair - see their web site on single premium PPI's - go back to them and tell them the FSA (ie their regulated) have stated this to be unfair and you want the money back from when you tried to cancel the insurance

tiggrae

m.colak wrote: »

Hi tiggrae thanks for that baby is fine mum is a lot better (had a very bad tear followed by heamorraging followed by lots of blood loss (nearly lost her but she made it through so big thanks to all the midwives and nurse's at burnley delivery suite)) baby weighed 8lb 2oz as is baby luke (therefore boy boy boy yippeee). Both mum and son are now at home after a 14 hour labour and a 96 hour stay in hospital and mum is under house arrest. Not allowed to lift a finger so i am kept reasonably busy.

hey - sounds really stressful, glad they're both OK - you look after them, and take a big thank you from everyone you've been helping out on here - I know it's all voluntary so even more good wishes knowing what you must have been through !!!

mac_saver

Hi all,

I am just about to write my first letter to try and reclaim PPI on my secured loan which had a single premium payment front loaded which I was not aware only lasted for 5 years, and only covered myself and not my wife although the loan was in joint names. I have looked at the template letters but still cant get my head round what I should be stating on the letter any advice would be gratefully accepted.

Kaia_2

m.colak wrote: »

Stop request immediately a copy of the customer credit agreement with lloyds if they can't provide then immediately go to the information commisioner. You can request the repayment in anyway you wish its your terms not theirs.

Thanks so much for your help:beer: Have a pint on me to wet the babys head.

Best wishes to mrs colak and baby, poor thing sounds like she had a rough time, but hey worth it all in the end to have that little bundle of joy x Bless x