PPI Reclaiming discussion

Firemunchkin

My loan company added the PPI and related interest in full at the start of the loan, this was in April 2005.

I paid the loan off 10 months early and so I think I should get 10 months back.

When I read the paperwork they state that you can only get a refund on their terms, which are not pro rata, and only if you pay 3/4 faster than originally planned, and no later.

Incidentally, they didn't explain that I could get this type of insurance elsewhere, although I did make the choice to have the insurance with the loan company. Can I perhaps make a claim in respect of this?

I'm really annoyed by this as I feel I should get some £400 back - any tips anyone?

minichick

has anyone had any success claiming back from clydesdale bank i wrote to them and asked them for details of my previous loans and they advised they could go back from old accounts for me but it would cost me £40.00 an hour!!! also tried to claim off an old credit card from them that i took out when i was 18 years old 11 years ago) - first credit agreement i ever had and did not really know about insurances etc and had signed the form that they had filled it - take it i dont have a leg to stand on?:mad:

lucid2008

Just had a cheque from black horse for £3,400 PPI refund which was a nice surprise this morning.

xxisabellexx

Hi, we are in the process of reclaiming PPI from Lloyds TSB. We sent our first letter in the middle of December stating the following reasons:

• Your salesperson implied that taking out the policy would assist my credit application.
• Your salesperson was very pushy in selling me the policy so that I felt I could not say no.
• Your salesperson implied that taking out the policy was essential for me to get the associated credit even though I informed them that I already had alternative insurance cover.
• Your salesperson did not give me full information on what the policy would and would not cover.
• I am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

They replied with a 'we're looking into it but need more time', what seems to be standard reply.
Then today we have recieved another letter basically saying shove off etc BUT they have said 'you are concerned that you were mis-sold as you were not aware that Loan Protection Insurance had been arranged for you'. Then they proceed to tell me that we did know. However, that wasnt even one of our reasons!

I have drafted the second letter as per template, using the part if they have said you were not mis-sold.
So, my question is, what should I add to the second letter to say, 'you morons, you didnt even read the first letter properly' without, obviously, saying that?


TIA for any help anyone can offer!

LISAW_2

xxisabellexx wrote: »

Hi, we are in the process of reclaiming PPI from Lloyds TSB. We sent our first letter in the middle of December stating the following reasons:

• Your salesperson implied that taking out the policy would assist my credit application.
• Your salesperson was very pushy in selling me the policy so that I felt I could not say no.
• Your salesperson implied that taking out the policy was essential for me to get the associated credit even though I informed them that I already had alternative insurance cover.
• Your salesperson did not give me full information on what the policy would and would not cover.
• I am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

They replied with a 'we're looking into it but need more time', what seems to be standard reply.
Then today we have recieved another letter basically saying shove off etc BUT they have said 'you are concerned that you were mis-sold as you were not aware that Loan Protection Insurance had been arranged for you'. Then they proceed to tell me that we did know. However, that wasnt even one of our reasons!

I have drafted the second letter as per template, using the part if they have said you were not mis-sold.
So, my question is, what should I add to the second letter to say, 'you morons, you didnt even read the first letter properly' without, obviously, saying that?


TIA for any help anyone can offer!

Hi matey,

I would just re-emphasise your points mentioning any applicable broken laws. I have taken them to the FOS but to be fair, they do have a quick turn around time. No expert, but that would be my advise.

L

Binkylou_2

Hi there, I took out a loan last year with Halifax Building Soc., for 7500 over 3 years. The charges collectively add up to 11,500, which seems to be really high. Can I claim some of the PPI charges do you think?

I really would love some good sound advice.

Ta, Binks :A

aligail

To all people who have successfully reclaimed against the catalogue companies could anyone please give me some advice. Have been with littlewoods for several years and have always been charged advantage extra care but don't know what it is so just wondered if anyone knew if it was the same as ppi. Have emailed them to ask why I pay for it but have had no response. Would be really grateful but please be gentle as a newbie

tiggrae

lyns10 wrote: »

So.... I've decided to try and claim back the PPI that I paid.
If I'm successful will this help me resolve the problem with my credit report.

Because I couldn't claim on my PPI I ended up getting behind with my loan and cc payment when I became unemployed.
I was advised afterwards that my accounts should have been frozen for a few weeks/ months as I couldn't claim, but they weren't.

Anyway because of this I defaulted on both accounts and now the 2 show on my credit report which are causing me a problem in trying to get a mortgage.

I got work and paid off the loan and the cc balance soon after. But I now have a bad rating for the next 6 years.

Why do banks seem to take enjoyment out of doing this?

it's not enjoyment it's either inertia or incompetance - take your pick

tiggrae

aligail wrote: »

To all people who have successfully reclaimed against the catalogue companies could anyone please give me some advice. Have been with littlewoods for several years and have always been charged advantage extra care but don't know what it is so just wondered if anyone knew if it was the same as ppi. Have emailed them to ask why I pay for it but have had no response. Would be really grateful but please be gentle as a newbie

they are allowed 8 weeks to respond

tiggrae

freedom2b wrote: »

I don`t suppose I can do this with my bank at the moment as we are all waiting for the outcome of the long and protracted court case

ppi & bank charges are unrelated so go for it !!