PPI Reclaiming discussion

maxdp

kellyanne wrote: »

Just wondering if one of the experts (Tiggrae) could help me a bit. Waiting for response from Barclayloan. PPI was single premium policy (before 2005) and i was led to believe that i would be more likely to get the loan approved if i took the ppi. Having realised how expensive it was and being in serious debt at the time I tried to cancel in around 2005. They said if you cancel your payments are hardly reduced anyway so it isnt worth it, blah, blah. Anyhow, we refinance through Barclays eventually and paid that loan and overdrafts. No refund was received at that point at all. Sent 1st letter which they said polite no but we will discuss it further if you are not happy. The letter side stepped all of my issues and never mentioned that i was 'blackmailed' into taking it out for fear of refusal, only 'our staff are traine dto asses your need for ppi etc etc'. I sent a second letter off - still trying to be polite but clearly stating i was not happy with that and that they had not fully dealt with my concerns and that i would take it further if necessary. They have said they will give a final response by 7th February, but i am desparate to know one way or another. I dont know what the chances are as it is my word against theirs.

And just like to say thanks for previous friendly and warm advice from others on this thread - think i will stay away from other threads on this site though - dont really appreciate being called an idiot because my finances arent perfect and that i am sometimes a bit half soaked about it all!!

Hi am also in discussions with barclaycard PPI and Barclsys Loans 1999, 2001, 2004 and refinanced same year all with PPI all had single premium PPI up front. Had usual standard reply from Barclays...... you know the one ......sorry this is not the reply you were hoping for.....:mad: sent same phrase back to them and have now sent info to FOS so fingers crossed.

Good luck

maxdp

m.colak wrote: »

Hi ya all hope everything is going well. I see Tiggrae is giving out good advice as usual. Will hang round in the background if anybody needs any help.:D

Congratulations on the birth of your new baby you must be very happy.... tired but contented.

:beer:

Elsie2_2

Elsie2 wrote: »

Thats really useful, thanks. What did you put in your particulars of claim when you originally sent the details through to the Court? There is a standard one on the site for Bank Charges which i've used befoe, but i'm not sure how to alter it for PPI's. Cheers.

From M.COLAK - Put in the details of the claim and why you are claiming include the fact that you were delibrately mis sold the policy (ie the 1967 misrepresentation act section refering to negligency in selling (look the act up for the exact wording)) and therefore you wish to claim x amount plus tick the box for the statuatory 8% interest.
Thanks, very helpful. I'll keep you posted.

daynurse

daynurse wrote: »

hi got my response from first plus not good all the tapes imply we knew what we were getting in too blah blah blah optional policy etc sending me the tapes have wrote back anyway with regards refund of policy being unfair as offerred less than 20% try that route what i would like to know is do they have to rebate it to the loan if the insurance is supposedly from barclays and the policy has been added to the loan why can it not be reembursed direct back to the customer???

Can any of the more knowledgeable posters respond I dont think i will be able to claim on the missselling side but i think to offer less than 20% on my policy is very unfair i have nothing written anywhere saying after first year you may get 2nd year etc infact it does not even say what we would get at the 5 year point i feel as if they have took advantage of us as i work for the nhs redundancy and sick pay is not an issue and yet according to the demands and needs questions we agreed to the policy however they never advised me otherwise can they insist that the refund be taken off the loan it makes no differrence to the monthly payment well approx 10.00 and off course who benefits mmmmmmmmmmm first plus obviously
some advise would be greatly appreciated HELP

mac_saver

tiggrae wrote: »

Hi there, are you wanting to reclaim for mis selling or the fact they only rebated you £2000 on early redemption - the 2nd one is easier to go for as the FSA themselves have stated partial refunds to be unfair under the unfair consumer contract terms regulation 1999

Hi Tiggrae, thanks for trying to help, I dont really know how to proceed with it as I was mis sold initially ( not aware PPI was for 5 years only and single cover about as much use as a chocolate fireguard!!!) and I only found out by phoning them how much I had paid for the cover. What do you believe would achieve the best result

m.colak

daynurse wrote: »

Can any of the more knowledgeable posters respond I dont think i will be able to claim on the missselling side but i think to offer less than 20% on my policy is very unfair i have nothing written anywhere saying after first year you may get 2nd year etc infact it does not even say what we would get at the 5 year point i feel as if they have took advantage of us as i work for the nhs redundancy and sick pay is not an issue and yet according to the demands and needs questions we agreed to the policy however they never advised me otherwise can they insist that the refund be taken off the loan it makes no differrence to the monthly payment well approx 10.00 and off course who benefits mmmmmmmmmmm first plus obviously
some advise would be greatly appreciated

The refund is a refund to you and therefore you can dictate exactly how you wish it paid. Personnally i wouldn't accept the 20% as it is grossly disproportionate. Again right back stating your case as you didn't require any of the insurance and you had it and therefore you why would you gone ahead with PPI if you had understood its purpose QED mis sell. Repeat that you find the offer 20% highly offensive and will be seeking further advice as to proceed to court/FOS unless you receive a reply with a satisfactory offer in 14 days from this letter.

daynurse

m.colak wrote: »

The refund is a refund to you and therefore you can dictate exactly how you wish it paid. Personnally i wouldn't accept the 20% as it is grossly disproportionate. Again right back stating your case as you didn't require any of the insurance and you had it and therefore you why would you gone ahead with PPI if you had understood its purpose QED mis sell. Repeat that you find the offer 20% highly offensive and will be seeking further advice as to proceed to court/FOS unless you receive a reply with a satisfactory offer in 14 days from this letter.

MANY THANKS for the reply I have responded saying its unfair i wasnt sure if they could make you pay it off the loan however thats what they said they would do no choice offerred !!!but like you say i supposedly have paid for that policy up front so to speak it should be me that benefits from the refund i need to listen to the tapes regarding missselling it will take up to 7 days due to the unusually high demand mmm wonder why i tried to cancel last year but was told not in my best interest cant recall the exact date so they cannot look in to that so im still paying for it until they give me a more satisfactory offer do you know if
it should be broken down anywhere that if you were to cancel you would get
?% after 1 year, % after 2 and what was i suppose to get after the 5 when the policy ended i have nothing to say this am i supposed too sorry for all the questions!!!!!!!!!!!

m.colak

daynurse wrote: »

MANY THANKS for the reply I have responded saying its unfair i wasnt sure if they could make you pay it off the loan however thats what they said they would do no choice offerred !!!but like you say i supposedly have paid for that policy up front so to speak it should be me that benefits from the refund i need to listen to the tapes regarding missselling it will take up to 7 days due to the unusually high demand mmm wonder why i tried to cancel last year but was told not in my best interest cant recall the exact date so they cannot look in to that so im still paying for it until they give me a more satisfactory offer do you know if
it should be broken down anywhere that if you were to cancel you would get
?% after 1 year, % after 2 and what was i suppose to get after the 5 when the policy ended i have nothing to say this am i supposed too sorry for all the questions!!!!!!!!!!!

Why not save your self some time phone them up and ask for transcripts rather than audio as there is something wrong with the copies you have.:D
This will allow you to highlight the important parts you need and discard the rest of the dross. Phone them up and get them to clarify that they received a call from you last year (don't mention what it is for) and ask for a copy of that phone (transcript again). If they say they don't keep record's then tell them you would like a letter referencing that they received a call from yourself on said date however they can't say what the call was about as they no longer hold the record. If you got an offer that means that they are trawling (ie they know they were wrong and seeing how much they can pay you off with) if you are happy with 90% offer that as they may say yes. But never drop below 75% its your call how fast you wish for this to be settled and how much you want back. If you go via the FOS it could take 9 months via court 2 months or at the right offer 2 weeks.

m.colak

mac_saver wrote: »

Hi Tiggrae, thanks for trying to help, I dont really know how to proceed with it as I was mis sold initially ( not aware PPI was for 5 years only and single cover about as much use as a chocolate fireguard!!!) and I only found out by phoning them how much I had paid for the cover. What do you believe would achieve the best result

Hi mac as Tiggrae say check out the act as it provides rough calculations into how much you should receive. There is no reason you can't claim back the PPI and overcharge in the same claim. You just have to work out what you believe is an reasonable acceptable figure and then stick too your guns.

tiggrae

m.colak wrote: »

Don't do it.... Unless the claim is so large that you need a solicitor go via the MCOL website www.moneyclaim.com . This puts you through the small claims procedure but for a smaller fee than if you need solicitor's. The other company's can take up to 50% of your claim from you when it might be a very simply case.

hi there check out www.reclaimprotectioninsurance.co.uk