PPI Reclaiming discussion

stressedaah30

can anyone advise me on whether lloyds tsb respond within deadline i sent first letter off week before chritmas received the we,re looking into ya complaint 15 jan quoting they needed another 4 weeks if not would be in touch by my calculations i should be hearing really soon jus wanted some advice and info on how others have found lloyds tsb
thanks

Josparoonie

Hi there, apologies if this query has been answered already, but please could anyone assist me with this.

I have sent all Martin's letters to HFC as I got a loan with Beneficial Finance back in 2006. They have sent a final letter to me saying that basically I knew that I was signing and that they were unable to refund the cost of the cover and that I will now have to go to the FOS, which is no problem.

Reading through their letter, it says

"When Payment Protection Insurance is arranged with a Personal Loan, although the customer pays a single premium for the cover based on the loan term chosen, this cost is incorporated into the monthly repayments for the actual loan"

So, is this a single premium insurance plan or is it just a monthly plan, I am confused!!

Any help would be appreciated

Thanks

Josparoonie

papalazarou2007 wrote: »

I'm in the process of trying to claim back ppi from citi financial dating back to January 2006. After the initial letter, I have contacted them again only to find out that they have "lost" all the paperwork regarding this loan (apparently 2 offices merged), and they are referring it to their legal department. Any advice on what to do next?? Thanks!!

Hi there,

I also am claiming from Citi Financial, the Office in Glasgow, and they sent me a letter asking me to send them copies if the agreements that I had so that they could look into my complaint! Maybe they are just trying to stall for more time.....in fact I haven't heard from them for a wee while, will chase them!

Joanne

walkingstar

Can someone give some advice on the following points.

Loan No.1 Lloyds Business Loan started in 2001, bank manager made us consolidate personal overdraft, business overdraft and small loan before he would help us over a bad patch. The argument with lloyds is that my husband had a medical condition they we were not told was not covered and i have asked for the PPI back. I even gave the name of the person who sold it. After many letters they have refused to pay it back saying they have spoken to the person involved and he has said he followed the rules (well he would say that wouldn't he) so i wrote and asked for the tape so i could proved from the conversation that he never mentioned medical conditions, the question is have i a case if i take it to court because i am afraid of biting off more than i can chew and they have already said they will defend, a rather snotty lady that i spoke to and she has put in writing.

Loan No.2. Lombard - medical condition same as above but asked if we could cancel the PPi in 2005 but not without refinancing and the monthly payments were more if we did, they won't budge either. We did this over the internet so they are saying we should have read the implications, i just didnt realise it would not pay for any outstanding medical condition, do i take these to court as well.

many thanks :rolleyes:

walkingstar

Josparoonie wrote: »

Hi there, apologies if this query has been answered already, but please could anyone assist me with this.

I have sent all Martin's letters to HFC as I got a loan with Beneficial Finance back in 2006. They have sent a final letter to me saying that basically I knew that I was signing and that they were unable to refund the cost of the cover and that I will now have to go to the FOS, which is no problem.

Reading through their letter, it says

"When Payment Protection Insurance is arranged with a Personal Loan, although the customer pays a single premium for the cover based on the loan term chosen, this cost is incorporated into the monthly repayments for the actual loan"

So, is this a single premium insurance plan or is it just a monthly plan, I am confused!!

Any help would be appreciated

Thanks

I think what they mean is that it is added to the loan at the begining and then you pay the monthly payments with it added to i.e £5,000 loan and 1500.00 ppi total loan £6500 divided into length of loan

Regards

rosemahairy

jasparoonie i would have thought because benefiacial had already had a rollocking their would be no trouble giving FOS a call then getting them to help you. go on their website nad get their number they are v helpful

DaisyBella_2

I am being given the ol runaround by Welcome Personal Finance. Basically I have received their 'final response' telling me to go away. But I wasn't even querying the 'mis-selling' I just wanted the refund for paying Loan off early.

1st Loan: 1800 + 394.60 (ppi) over 24mths - I refinanced after 3.5 months.
2nd Loan (the refinanced one): 1849.11 (settlement of 1st loan) + 2650.89 (cash) + 962.86 (ppi) over 24 mths - I refinanced after 7mths
3rd Loan: 5190.60 (settle 2nd loan) over 60 mths - no ppi added this time. I think they realised I was battling to pay and were trying to offer me lowest monthly repayments possible.

So anyway Welcome Head Office said - go to FOS.

I phoned my local Welcome Finance branch - they said - PPI is paid monthly so I didn't pay for full term. I hung up - checked my policy - and I did pay for full term and the policy states refund for early settlement. I phoned local branch again - he says I didn't take out new loan they just adjusted my payments over 60 months instead of 24. Wrong again!!! I have new signed credit agreement with new Agreement number - but I played along and said - so then why was I sold two separate PPI's if these aren't new loans but just 'adjustments' to the first (plonker). He got confused and asked me to come in with all documentation. I will be there at 9am tomorrow. I have also spoken to FOS in the meanwhile and they have advised me to get breakdown of settlement figure for each loan to see if PPI was refunded at the time of refinance (which I doubt). I also contacted the PPI provider and they said that refunds were issued on both policies to Welcome Finance Head Office.

Mmmmmm -- something is not right.

maxdp

walkingstar wrote: »

Can someone give some advice on the following points.

Loan No.1 Lloyds Business Loan started in 2001, bank manager made us consolidate personal overdraft, business overdraft and small loan before he would help us over a bad patch. The argument with lloyds is that my husband had a medical condition they we were not told was not covered and i have asked for the PPI back. I even gave the name of the person who sold it. After many letters they have refused to pay it back saying they have spoken to the person involved and he has said he followed the rules (well he would say that wouldn't he) so i wrote and asked for the tape so i could proved from the conversation that he never mentioned medical conditions, the question is have i a case if i take it to court because i am afraid of biting off more than i can chew and they have already said they will defend, a rather snotty lady that i spoke to and she has put in writing.


Loan No.2. Lombard - medical condition same as above but asked if we could cancel the PPi in 2005 but not without refinancing and the monthly payments were more if we did, they won't budge either. We did this over the internet so they are saying we should have read the implications, i just didnt realise it would not pay for any outstanding medical condition, do i take these to court as well.

many thanks :rolleyes:

Hi

Am in similar position with LTSB had a business overdraft which had to have PPI before it was approved. A Business loan which would also go ahead only with PPI. The PPI for the Business overdraft was with London and Edinburgh when going through finances noticed we had this PPI cancelled it through our bank manager (not the one who originally sold PPI) asked London and Edinburgh to send copies of original paperwork as we did not have any. They sent a "copy letter" and Terms and Conditions. When I received it the first thing I noticed was that the T & C were dated recently (cant remember exactly) but in them it said the PPI was Optional. Did not feel right about this so got into attic in dust and cobwebs and found original paperwork. Letter they sent me was not a copy but written from somebody different and they had taken their own companies name out from the first paragraph stating who had underwritten the insurance. Also the "original T & C does not state that the PPI is Optional.

I have passed this over to a third party to collect who are not charging me any money but put their costs on top.

Am dealing with six other PPI which have been added to my partners Loans and Credit Cards over the years myself and have passed some over to the Financial Ombudsman.

Do not trust any of them check paperwork very carefully and do not be put of with Final Response and snotty letters take it as far as you can. Good Luck

craigieboy40

Can someone offer advice about claiming from First Plus?
I have 10 payments to go before i get the refund . Would it be wise to wait for the policy to pay out and then claim the interest back? The reason i ask this that people keep mention 78% offers from first plus for refunds and i am past 78% with my payments(about 82%). i have all the origanal paperwork they sent and have a strong case for misselling. Please Help

mortimerrankine

DaisyBella wrote: »

I am being given the ol runaround by Welcome Personal Finance. Basically I have received their 'final response' telling me to go away. But I wasn't even querying the 'mis-selling' I just wanted the refund for paying Loan off early.

1st Loan: 1800 + 394.60 (ppi) over 24mths - I refinanced after 3.5 months.
2nd Loan (the refinanced one): 1849.11 (settlement of 1st loan) + 2650.89 (cash) + 962.86 (ppi) over 24 mths - I refinanced after 7mths
3rd Loan: 5190.60 (settle 2nd loan) over 60 mths - no ppi added this time. I think they realised I was battling to pay and were trying to offer me lowest monthly repayments possible.

So anyway Welcome Head Office said - go to FOS.

I phoned my local Welcome Finance branch - they said - PPI is paid monthly so I didn't pay for full term. I hung up - checked my policy - and I did pay for full term and the policy states refund for early settlement. I phoned local branch again - he says I didn't take out new loan they just adjusted my payments over 60 months instead of 24. Wrong again!!! I have new signed credit agreement with new Agreement number - but I played along and said - so then why was I sold two separate PPI's if these aren't new loans but just 'adjustments' to the first (plonker). He got confused and asked me to come in with all documentation. I will be there at 9am tomorrow. I have also spoken to FOS in the meanwhile and they have advised me to get breakdown of settlement figure for each loan to see if PPI was refunded at the time of refinance (which I doubt). I also contacted the PPI provider and they said that refunds were issued on both policies to Welcome Finance Head Office.

Mmmmmm -- something is not right.

I am having exactly the same problem with Welcome , i have written to them phoned them for a breakdown. i had single premiums added to laon, paid them off early due to refiancing. Asked what refund i got, response was we will not be corresponding with you any further. i have now written to the FOS despite the loans being in 2003, i was advised they will look at it due to the new ruling regarding single premiums.
I will keep you upto date whats happening if you do the same