PPI Reclaiming discussion

Pinzy

I thought that too, just phoning...

Pinzy

Blimey, I've got ear-ache! I'm not being charged £500 a month. It did make sense what he was saying, about the payments I would be refunded.

To be honest I'm still not completely clued up, but I'm going to sign for the new loan, making sure there's nothing that says "you agree not to claim for previously paid PPI". Get all this reclaiming out of the way, then look at things again.

Gonna get my Card Protection Plan cancelled too, I was definitely mis-sold that little puppy.

Pinzy

lemonhead wrote: »

I have just received a response from loanmakers, they have asked me to complete a questionnaire with 26 questions basically yes or no answers, do i have to complete this even if i already sent a letter. It sais it enables them to help with my complaint. some of the questions are

did i have life insurance before i got loan
did i have accident/sickness policy before i got loan
did the agent inform me of apr of the future commitment
did the agent confirm if i was happy to proceed

i then have to sign a declaration to authorise them to go to get info from my bank, lenders and any other 3rd parties.

It all seems weird and i dont want them to be able to get my bank details

Any help appreciated

ps...this loan was paid off in 2006

Lemonhead - From what I've read on these discussions, other people have had these questionnaires, and they've done the following:

They sent me a big questionaire to fill out which I returned not filled in advising them that if they had sold me the PPI correctly in the first place, they would know all these details. I got a cheque today for nearly £6000.

Which sounds absolutely the best thing to do. It's absolutely right. They are just trying to gather evidence against you. Personally, I wouldn't be happy with giving them persmission to ask who they like personal details about you. Who knows what comes under "3rd party", could be anything from Experian to Tesco!

TwinsMum_2

Have now received my PPI back from HSBC regarding credit card. Only trouble is they have refunded it to my card that I no longer have and they will not send me a new one becasue it was me that cut it up and no longer use it so my card is £350.00 in credit and I can not get to that money.

londonfraggle

Hello - this is my first point on this wonderful site so I apologise if I'm not quite up to speed on all the right terms etc.!!

I have two questions about two loans:

1) I have a loan with Citi Financial. I have called them today to discuss my PPI situation with them. They have "seemed" to be very understanding. They told me I need to write a letter saying I wish to cancel my PPI, they will then send me a cancellation form to sign and send back. This will then mean they will send me a rebate cheque for the amount I have paid (they said it currently amounts to about £800). However my actual monthly repayments won't be reduced, but the term of my loan will be shorter. This all sounds pretty fair to me, but I'd be very grateful for any comments/caveats or advice from any experts out there?

2) I have another loan with HFC (I know I know too many loans, but that's why I'm on this site in the first place!). I called them today to discuss my PPI with them. They have said that in fact as I only have 10 months left on the loan to cancel the PPI and re-calculate the loan would cost me more as they would have to do the loan over their minimum terms of 12 months which would cost me more. Additionally they can't "reduce" my monthly repayments even if I cancel the PPI as I have already (apparently) paid the interest and PPI in my repayments and am only actually paying the loan itself now. There was no mention of how to reclaim etc. I'm confused and wondered if anyone had any advice on this one?

Thank you all very much in advance for any help you might be able to give a Money Saving Newbie who is desperate to find ways to make each month a bit less financially tortuous and to get herself out of debt one day in the not too distant future!!
:A

lemonhead_4

Thanks for your help Pinzy:)

daynurse

Stillsmiling wrote: »

I assume their response won't be what I want to hear and at that point I'll send off the documentation to the ombudsman. Keep us posted and I'll do the same!

there seems to be a lot of complaints regarding first plus im waiting for a response and still not recieved the recording of said phone call going to email them in a min give em a shake keep you updated

daynurse

Stillsmiling wrote: »

I assume their response won't be what I want to hear and at that point I'll send off the documentation to the ombudsman. Keep us posted and I'll do the same!

there seems to be a lot of complaints regarding first plus im waiting for a response and still not recieved the recording of said phone call going to email them in a min give em a shake keep you updated

Kaia_2

ste-ste wrote: »

Back in december i sent lloydstsb a letter stating that i did not know PPI was added to my loan account the cost of the premium was £758.32 for the 5 year loan term i recieved a couple of letters back appologising for the delay and that they were trying to find details about my insurance, saturday I came home from work and had a letter off them saying that they would refund the whole policy and any interest earned to date, all i had to do was send back a letter saying that I agreed and that the offer is not saying they did anything wrong and its a goodwill gesture so all in all with interest i will have about £1200 knocked off my outstanding loan bringing it down to £600 leaving me 6 months left to pay instead of september 2009 when the original date to finish was.

If anyone is thinking about doing this I recommend it I only had to write one letter for the whole process which I used the template off here, and its worth the extra money that is owed back to you.

I have a LLoyds loan taken out in April 2004, it was referred to a debt collection agency in 2007 and the current balance is now down to roughly £400. If PPI reclaimed and exceeds this amount will the loan be cleared with the debt company and the difference sent to me?
Would it be worth finding the £400 to CLEAR the debt and any monies due to come directly to me?
ANY advice would be HUGELY appreciated

bhoywonder

Finally got my response from EGG regarding PPI, they sent me a recording and on this I am clearly heard saying that I dont want it. It then goes on with the saleswomen saying it is good value and first month is free, by this time I was fed up and said "fine, send me the information". EGG now state that saying fine means I accepted it and wont refund the PPI, even though I said I was not interested. Think I will take this further, i dont even think I got the information in the post.