PPI Reclaiming discussion

stikiuk

DaisyBella wrote: »

Thanks for the Welcome encouragement!!! On what grounds was your PPI mis-sold? (if you don't mind me asking). When we took our car finance through them they included PPI - but by then I was more savvy and asked for a quote without it - I was told no PPI then no Loan - I argued with them - eventually received new loan agreement but with much higher APR. Once again I dug my heals in and refused to sign. Eventually got it all done correctly and saved us about £35/month over 4 years (quite a big chunk really).

Mine was mis-sold on the grounds that i too was told no PPI no loan ! I also have pre excisting medical conditions, which i told them about but they still told me i had to take the PPI :mad:
Well done for digging in your heels and standing up to them.
I'm just trying to draft a letter to them asking for the money to be paid to me rather than of the account.

laurawhit2

Hi everyone, this is my first post.

We sent the first letter to HSBC this morning. We

laurawhit2

Hi everyone, this is my first post.

We sent the first letter to HSBC this morning. We took out a loan with them in 2005 for 14000. We now have ten payments left.

It wasnt until the other day the my husband phoned them about the loan that we were told we wouldnt get the PPI back, up until now we beleived that we would get some of this back if we hadnt made a claim. (this is what we were told when we took the loan out)

After doing some research we found the PPI was no good to us as my husband was and still is self empolyed.

We were also pushed into taking PPI, we were told as my husband was young he would unlikey get a loan without it.

We were also told we couldnt cancel the PPI without taking out another loan without the insurance. This is something we really didnt want to do.

The first letter was sent to the this morning. What do you think our chances are?
Thankyou. I will keep you updated.

daynurse

cocker100 wrote: »

Hi all,

A most bizarre week regarding my complaint. First of all, no response from First Plus by the agreed date on all the letters. This suprised me as even though they are a shocking company, they normally do reply to you when they say they will, even if it is a fob off letter.
Waited a couple of days to see if it had been delayed in the post. Nothing came, not even the requested tape recordings!:mad: :mad: :mad: :mad: :mad:
Sent a really snotty email last night to my complaints executive demanding answers immediatly! (No really, the email was heated to say the least) Got a reply back from him today appologising and saying that there was a delay in getting the tapes from I.T. but that I would get a final response by Friday.
Ok I thought, but a couple of hours later I found an answer message on the phone from another complains executive who has now taken over my case, saying that she wanted to speak with me. Also, another email from her in my inbox really grovelling about how sorry they were and that my complaint had failed to be handled in the highest standard they would normally expect, and that she has passed it to "seniors managers" to investigate. It also said that a decition had been reached and that she would personally contact me tomorrow to discuss this!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:D
WOW! From being totally frustated by the whole thing, I am now slightly optimistic. Would they personally contact me by phone if they were going to refuse to refund me????? Maybe this 4 MONTH saga is coming to an end at last!!!

Lets wait and see.

Ive been waiting for your next installment!!! any news

YEOSAL

stressedaah30 wrote: »

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

Lloyds TSB were really quick in saying "push off" twice, only took 3 weeks in total, so fingers crossed yours may be taking a while cos it is positive.

I have found them very hard work though, both on PPI and credit cards so going to have to resort to court action.

Good luck x

helnag

After lengthy conversation with the branch saying they would take my car (I witheld it last month pending a decision) unless I paid last months PPI, I sent the 2nd letter to head office with PPI payment enclosed and a copy to the branch and also sent 1st letter to start claiming on my loan. Then get a call from Welcome local branch yesterday saying they'll re-write my car finance without PPI. My payments would go down accordingly but still have same term left, I asked her to put the offer in writing and fax it over but she said she couldn't, I just had to come in and sign. Think they must think I was born yesterday. I said no, I still believed I should also get paid money back. She said there would be consequences! I told her that as she had already said they'd received my cheque for PPI and I'd clearly stated I would continue to pay as normal there could be no consequences. Think maybe she has looked into my loan application and realised they should never have given it to me. (I pay £515 a month to them for my loan and car and I am a single mum who works part time) Hopefully this is them getting a bit scared! Obviously they would not put this offer in writing as it could maybe be like an admission of guilt! Still, they have two more weeks, I've already called FOS so have the forms but maybe should call them again to get them to warn them I will take it further should their next reply not be satisfactory? Sorry this reply is so long winded! Thankyou everone for all your help so far!

mortimerrankine

petermb wrote: »

The welcome loans, it would be interesting to know if they were car or personal loans. Wecome did some peculiar things back in 2003 which they are currently being challenged on.

they were both for personal loans, can you offer me any tips on this if they were doing some peculiar things. sounds very interesting.

mortimerrankine

DaisyBella wrote: »

Well I went to see Welcome Finance this morning. I am on my 3rd loan in a year (each repaying the previous). Anyway I asked for a breakdown on how they calculated the settlement figure on the first 2 loans. Well apparently they don't know - the computer works it out. So when I asked about PPI refund I was told it is included in the settlement figure, so I asked if they don't know how the settlement figure is calculated then how can they say for definite the refund was taken off the settlement figure? Apparently I just have to believe them. Also - despite paying single PPI premium up front which was added on to the loan figure - PPI is only paid monthly so I haven't paid up front. He seems to think because I am paying monthly premiums to Welcome, this means my PPI is being paid monthly too. I tried to explain I had paid PPI up front - Welcome added the figure to the loan and it is the loan figure I am paying back monthly. Honestly - I don't think their staff even understand what is going on.

I am going to have to escalate this too!! Sigh.

Tell me mortimerrankine are you going for PPI mis-selling or PPI refund on early repayment?

I am actually going to FOS on both reasons because they were both in 2003 i had to try both reasons.

maxdp

Do not believe anything that they tell you they are trying to put you off. Look at the letters on MSE template letters for reclaiming and read your way through these posts. It takes a while so do not be put off.

lozzer1701

hello everyone,
i've posted the link to my original thread, as it started off as a completely different problem-

http://forums.moneysavingexpert.com/showthread.html?p=8671899#post8671899

can anyone add to this?
it all started off as us wanting to get the money back for insurance policies i know were cancelled (i'd stupidly left my partner in charge of looking after what was going on with the joint finances...but through the process of trying to find more info on a potential ppi reclaim, i've now found a huge wad of unopened bank statements...hey ho....:mad:). i read through martin's ppi article, so i wondered if this actually would be a potential avenue of getting our money back. to add to/clear up my original post, i can add the following-
-i've had a reply from the estate agents, who say that they've been dealing with a particular financial services company for the last 4 years, and prior to this they cannot remember who they dealt with
-we do remember being under the impression that the advisor we were dealing with had some degree of independence. he did make some apparent effort to show us mortgages from different lenders, but funnily enough the l&g one turned out to be the best deal....and we certainly wouldn't have asked him to help us out to the degree we did when it came to sorting out our business if we knew he was tied
-i've found an info booklet that l&g's critical illness cover must be taken out, however household insurances only had to be approved by them and there is no mention of ppi. it just says you have to ensure you make your payments every month. however i do remember being under the impression that we HAD to take out ALL insurances with them at the time. i've found a list of l&g's charges, and there's no mention of being charged if you do not take out their policies.
-was the ppi policy appropriate anyway? as i've said, i don't remember being asked about the level of cover from work or otherwise that i already had. none of the boxes in the financial review are filled in, and the ppi box is only ticked for a quote and not actually specifically ticked as wanted. however, like i said-we were left with the impression that we had to have the insurances by the advisor

so where exactly do we stand? i can understand the bit the other gentleman said about tesco's advertising asda, but surely part of this problem is that you're being told you have to have something instead of the thing just being recommended? if the financial advisor had said 'i recommend this product', i would have asked if WE could have shopped around if he couldn't. we were never given the opportunity.
sorry if this goes on a bit...i'm hoping that we will be able to get our money back somehow...so far, we've payed out nearly £800 for nothing!!!
and if anyone can help, and you need more info/clarification on any point, please ask...