PPI Reclaiming discussion

Stillsmiling

daynurse wrote: »

the ppi wont come off the loan the 1133,00 has but the other is being paid direct to me still gobsmaked as coker said many thanks from m.colack doublr thanks to tiggrae many others who haven all there support and input you have all been wonderful

Sorry I meant the PPI part of your monthly payment to Worst Plus. Have they removed that or will you still be paying it? This is my biggest bugbear with them as I don't just want the refund, I want it taken off on a monthly basis too.

Josparoonie

rosemahairy wrote: »

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

Hi there, and thanks for responding! :beer:

That is what I am going to have to do as they have said a definate NO!! Will keep you informed!

Joanne

nova

cocker100 wrote: »

Hi all,:j

Sorry to all of you who have been waiting for this response. I've known about the outcome for a couple of days, but just got written confirmation today and was waiting to get that before posting!
Well to get straight to the point - I'VE WON!!!!!!!!!!!!!!!!!!!!!!!!!!!:beer: :beer: :beer: :beer: :beer: :beer: :beer: :beer:
Finally got it in writing today, they are fully refunding the whole ppi premium with interest!!! Here's the paragraph that I've been waiting for:

"I have completed a review of the correspondence regarding your case and in order to resolve your complaint we would like to offer you a full refund of the insurance premium plus interest and propose to make the necessary adjustments to your loan account to put it in the position as is if the payment protection insurance policy had not been taken. This will mean a full refund of the insurance premium plus interest, and returning the part of your monthly payments made towards the payment protection insurance premium to you. The monthly payments due will then be rescheduled accordingly."

Wow! I cant believe it. The total premium was £11360. We have made 29 payments so far in the loan for the ppi for at least £106 per month. These had increased with the interest rate. When you add on the interest, that over £15000 refunded!!!!!!!!!!!!:j :j :j

Obviously, they make the offer with no admission of liability and merely as a gesture of goodwill!!! Goodwill, First Plus, yeah right!!!!!:rolleyes:

If I could give any advice, it would be to stick to your guns and dont accept anything less than what you want. In any letters sent to your creditors quote the misrepresentation act as found in several previous posts. Remember, they have to prove that they never mis-sold you the policy, not you have to prove that they did.

Finally, I'd just like to thank everyone who has given me advice on this matter especially m.colak and tiggrae. Congratulation daynurse on your success today. You are a proper battler and would fight to the bitter end!!!:beer: :T
Good luck to all of you who continue to fight. As for me, I've got LLoyd's TSB in my sights next. BEWARE!!!

:money: King Martin rules ok!

Cocker.:)

Well Done,that's fantastic news lm really pleased for you, it's the support and successes like yours that helps us all keep going, l think if we were on our own we' probably would just write the one letter and then leave it,l've had one success and a few more on going so hopefully l will be able to write another soon!

x.xEmmax.x

Hi everyone, I was just wondering if someone would please help me.
Im currently paying off my loan taken out about 18months ago. I am planing to try and reclaim my ppi, that i know was mis sold to me.
My questions are:
Can i still try and claim even though i am still paying off the loan ? or do i have to wait until i have finished paying the entire loan? (in 3.5years time? )
My loan was taken out with barclays,.

kats9lives

MWH1 wrote: »

You should only try to reclaim the PPI if you were mis-sold a policy. If the terms of the PPI were fully explained to you and agreed in writing then there doesn't appear to grounds for a claim. If you write to the loan company to reclaim PPI you would need to state why you feel the policy was mis-sold.

If you are unsure, have a look at Martin's reclaiming PPI guide which identifies the types of mis-selling and decide if you come under any of those categories.

Looking back on it i think i was mis sold the policy. It was clear i didn't need the policy as i had no out goings such as mortgages etc as i lived with my parents, rent free. I don't recall ever being told about the loan without PPI, from what i remember it was this is your loan repayment, this is the protection. Protection explained. sign here. Heres a cheque for the loan. Never, you don't have to have PPI. Its up to you.

Do you think thats grounds to reclaim?

louietudor

hi all - ive had my final response from Capital One and it obviously a big fat no :mad: - its £1200 plus interest - i really don't want this to drag on so am i better going to FOS or MCOL - any quick advise on the pro's and con's would be much appreciated

ANY_CHANCE

Unfortunately we took out a secured loan with First Plus for 50,000 as we were desperate. On the phone they said we could not take out the loan unless we had payment protection so we signed for it 12245. Payments of 374.98 p/m for the loan over 25 yrs and 91.83 for the payment protection.

All interest we since found out was front loaded! - I believe this was not explained intially or what it meant.

We took this out in july 2005, in 2007 struggling to meet payments we asked to stop ppi they said they would but they would only refund 2246.86 which would be credited to the account reducing monthly payments by 17.25!!

By this time we were fed up with first plus and wanted to get rid of them we had to sell our house and pay them off 62,000 if you add the payments made over 22 months at around 466.81 per month total amount to them is 73,000

their profit out of us in 22 months is 23000

Is this fair, responsible, honest lending? I dont think so

maxdp

x.xEmmax.x wrote: »

Hi everyone, I was just wondering if someone would please help me.
Im currently paying off my loan taken out about 18months ago. I am planing to try and reclaim my ppi, that i know was mis sold to me.
My questions are:
Can i still try and claim even though i am still paying off the loan ? or do i have to wait until i have finished paying the entire loan? (in 3.5years time? )
My loan was taken out with barclays,.

No you do not have to wait claim now. If you cancel the PPI on your loan they will have to re-schedule the loan. to take into consideration the changes.

Start proceedings now as Barclays are definitely the bank that likes to say no. They are awkward not very customer friendly. Have two PPI with Financial Ombudsman re Barclays.

Good Luck

butterfly86

Hi

For anyone who had a loan with Freedom Finance and closed it in the last 3 years your insurance would have been through First National which is now just to confuse us with GE money .

If you write to the below address with your policy number stating your loan is now paid off in full and you want to cancel this insurance , asking for a rebate to be paid to your nominated account . They will do so within 28 days

GE Money Consumer Lending
53-61 College Rd
Harrow
Middlesex
HA1 1FB

I am getting £600 from GE Money and currently chasing Freedom Finance for rest being £2400 (so far they have offered £1200 which i have declined just waiting for response)

If you dont know your account number call 0870 6060790 . they were very helpful .

juliedawn_2

Stillsmiling wrote: »

Sorry I meant the PPI part of your monthly payment to Worst Plus. Have they removed that or will you still be paying it? This is my biggest bugbear with them as I don't just want the refund, I want it taken off on a monthly basis too.

Thats what i want too...my PPI is £100 a month......want that gone.So theres hope for me to get a cheque too.....well done daynurse....hope you get the cheque soon!