PPI Reclaiming discussion

daynurse

Maggie_Holmes wrote: »

I was remortgaging and it was difficult getting a re-mortgage with the secured loan round my neck. So i decided to consolidate it in with my new mortgage because I wanted rid of it. This PPI business only came to light when I mentioned to the broker about the secured loan and he wanted to know the amount. Of course I was quoting 27,500 when all along it was 32,000+ with the PPI, because I thought, like so many others it was a separate Insurance not one added to the loan. Just want to know now which bit I claim on, approx. how much and do I ask for all of the monthly payments back that I have made already on the PPI (17 months @ £42.37) plus the remainder of the PPI minus the rebate they took off when I settled which I think was about £1,000 or so (not sure about that bit I would have to ring and ask them) + this 8% business.
Like you I work for the NHS so if I was to be off work long term I have full pay for 6 months I told this to Lee Evans (SalesPerson) and I mentioned my other PPP I had in place but he kept pushing, and the figure he quoted at first already included the PPI cheeky thing.
Anyway, have you now settled with First Plus I am at the moment trying to catch up with the posts on the forum got to page 123 so not sure if you vodafreak, cocker 100 and m.colak have settled, I noticed they gave you a figure to settle, did you take it up, and how did youwork your figures out?

I think my situation is a little bit different to yours because I have settled my loan.
Have you listened to your CD conversation, I wish I could put mine on here just so they could here how they get you hooked.
Got to go just seen the time got to get my daughters lunchbag ready for school and need some sleep.
Thanks for replying.
Will let you know of any outcomes

Maggie

Hi maggie I got all the ppi back as did cocker you can still claim the fact the rebate given at time of settling was unfare or go the whole hog and misselling
they said no to me originally then posted to FOS but i emailed the managing director ( check back on last few pages) i know im cheeky but was blazing about it!! wish we could remorgage but only moved property last year not enough equity at the mo but it will be my first priority my CD is the same the ppi was the best thing since sliced bread!!!good luck just keep pestering and pestering it does work in the end!!!
good luck

m.colak

SmoSmo wrote: »

Hi I wonder if anyone can help? I am not sure if I am putting this question in the right area so forgive me if it is wrong I am very new at this.
I took out a loan with RBS in 2006 when i was in dire need of money due to a standing order being taken out of my account on the wrong day and incurring penalties (another story for another day :mad: ). After reading the articles about PPI i looked out the paperwork and realise I was one of the many who could possibly reclaim. The paperwork says;

Amount and perpose of loan £6,046.00
Insurance loan 1,496.00
Total amount payable 9,265.20

I am paying 60 payments of 154.42 a month (38.22 or which is insurance!) I could cry at my own stupidity but i was desperate at the time and was assured that the insurance policy would help my application almost word perfect to the article. Having looked over the paperwork closely (had been avoiding all debt paperwork as it's so depressing) I realise that the insurance isnt just paid month to month as i stupidly thought but was infact in the form of a loan of 3,219.20 and that the interest on this 18.27 % over the full term.
My question is can i ask for a refund of my insurance loan/ premiums? Also will the loan payments be lowered in view of this? Does it coast to recalculate the loan terms etc?

Sorry this is so long winded but I feel as though I am having to explain myself in order to justify my own stupidity am so ashamed at my financial situation. I hope somebody can help. x

First of all grab a cuppa and take a breather as all this stress isn't good for you. There is nothing wrong asking for help as everybody has to start somewhere. As for your financial situation there are a lot of DFW (Debt Free Wannbies) on this site and to tell you the truth for the price of a couple of stamps its worth attempting to reclaim just to reduce your debt as i have been doing:D .

As we have said before start looking at you case from an outside view. Look at the product that they sold you and say to yourself does it seem fair they did this to me knowing what my financial situation was? The answer was no and therefore they had no interest in protecting your rights or assisting you during a bad time. Ok now its time to get nasty.

Guess you have already sent the first letter and if not do so now asking for everything pertaining to your account. The customer credit agreement the original terms and conditions any transcripts from the laon application. Everything and anything you can think of. Next sit back and start working out a time frame note down today date and then add 40 days. This is their deadline to get back to you with the information NOT A REPLY. The follow up is via the information commisioner if they don't manage this but adds another nice letter to your arsenal against them.

Do this and sit back and relax you've started in the right direction and fingers crossed you'll get a speedy response. Once you have these post again and we'll help further.

ANY_CHANCE

I have been looking through all paper work and found aletter from FP march 2007 responding to my complaint. This must have been when i was finding out how much settlement figure was and realised the PPI situation and i said over the phone how rediculous it was and that if we had understood what it actually meant we never would have signed for it. It also mentions going to the financial ombidsman and if they have not heard from us in 8 weeks then they will consider the complaint closed.:eek:

Now at this time i was involved in moving house it was a difficult time for us, i did not even think we would be able to reclaim anything, that has only become apparant after last week looking on the website and learning more.

What should we reply if they write back that the case is closed (bearing in mind i did not complain to them in writing in 2007 only mentioned it over the phone)

nova

SmoSmo wrote: »

Hi I wonder if anyone can help? I am not sure if I am putting this question in the right area so forgive me if it is wrong I am very new at this.
I took out a loan with RBS in 2006 when i was in dire need of money due to a standing order being taken out of my account on the wrong day and incurring penalties (another story for another day :mad: ). After reading the articles about PPI i looked out the paperwork and realise I was one of the many who could possibly reclaim. The paperwork says;

Amount and perpose of loan £6,046.00
Insurance loan 1,496.00
Total amount payable 9,265.20

I am paying 60 payments of 154.42 a month (38.22 or which is insurance!) I could cry at my own stupidity but i was desperate at the time and was assured that the insurance policy would help my application almost word perfect to the article. Having looked over the paperwork closely (had been avoiding all debt paperwork as it's so depressing) I realise that the insurance isnt just paid month to month as i stupidly thought but was infact in the form of a loan of 3,219.20 and that the interest on this 18.27 % over the full term.
My question is can i ask for a refund of my insurance loan/ premiums? Also will the loan payments be lowered in view of this? Does it coast to recalculate the loan terms etc?

Sorry this is so long winded but I feel as though I am having to explain myself in order to justify my own stupidity am so ashamed at my financial situation. I hope somebody can help. x

Gosh! please dont feel ashamed it's not your fault you've been 'ripped off' like the rest of us,like m.colak says these people dont have your best interest at heart just greedily wondrering how much money they can make from someone elses misfortunate situation, listen to m.colak he's brill!!

Rab19

Hi All,

I wrote the following letter to Lloyds today & wondered if you could give it the once over before I submit it please!

I write with reference to the above account & the loan attached to it. The Loan Agreement Number is xxxxxxxxxxxxxxxx and I queried the Loan Protection payment on it in 2005 with the intent of removing it.

Unfortunately, I have not kept as close an eye on my account as I should have & only recently noticed that the Loan Protection was still in place. This means I have been paying it since 2005 when I requested it be removed & I’d like to know why this has not happened.

When I called your department on the telephone, I was advised I would receive a call within 24 hours telling me of the status of this query, but called back this morning to be told I was misadvised and that I should never have been told this – that I would have to wait for a decision, but there was absolutely NO idea as to when this would be!

I understand that a strict criteria has to be met as to whether or not I would need this protection & that this area is currently being investigated. As I called to remove this PPI in 2005 (after receiving the loan in November 2004) then I am within my rights to have the PPI both refunded and removed.

I await your swift response.

Thanks very much for reading this!

Rab x x

nicolajane1

hi, has anyone had any ppi reclaiming success with the Co-operative Bank, took out a top-up loan in Oct 2005 and now believe was mis-sold due to the fact the assistant on the phone just gave me the repayment figure as a total amount that included the ppi, without even asking if there was any pre-existing medical conditions. As this was a totally new agreement shouldn't they have asked? which looking into it my husband has a few different medical problems, tried ringing to see if he would be covered last week but the lady on the phone said she couldn't say until a claim is made. The total amount for the ppi with interest is £5,479.71 over 71 months. on a loan of £14,000. I have downloaded the template letter and am ready to sign but a bit worried to send it incase i am wrong. This is a joint loan but only my husband is covered for the ppi. can anyone advise is please!! Just thinking if only my husband is covered for the ppi would i still have to made the monthly payments if he was to fall ill or loose his job, thats not stated on the terms & conditions. Sorry its a bit long winded!!

DUFFIELD_3

hi
i was just wondering what happened to your claim with ge money
i am in the process of claiming but i am getting sent in all directions.

regards

alan

DROB91111 wrote: »

Hi Martin,


My experience of making a claim against GE Money Consumer Lending Ltd (First National Bank Plc):

COMPLAINT:PAYMENT PROTECTION INSURANCE (PPI) MIS-SELLING.

We did not ask for PPI, we were given it, as part of the guarateed loan offer by First National Bank Plc (now owned by GE MONEY).

I went through all the complaint procedure with GE Money, then contacted the Finanacial Ombudsman Service(FOS) in May 2007.

I received the following answer from FOS on 1st July 2007:

"Thank you for you recent enquiry. The matter you have raised does not appear to be something we are able to look into. However, it is possible that Finance & Leasing Association may be able to help you. I would therefore suggest that you contact them.

Their details are:

Finance & Leasing Association
15-19 Kingsway
London
WC2B 6UN
020 7836 6511

Yours sincerely
Gary Lark
Consumer Consultant"


QUESTION MARTIN!

Is the above correct or the message in your latest newsletter today using FOS for PPI MIS-SELLING correct


Regards DROB91111

Ken15

hi
i'm seeking some advice on ppi repayment

took a loan out with first plus for £47500 in august 2001 , they sold us a single premium policy for £9466.75,we repaid it in full in september 2003 (settlement figure was £58294.25)

we wrote to first plus last november and they wrote to us on 7th january 2007 to state we hadn't been missold so we sent the second letter and they replied the other day offering as a goodwill gesture £3600.53 (being pro rata 78% of the insurance premium). they also told us it was unlikely that the the ombudsman would investigate our claim because our policy was sold prior to first plus' membership of the gisc.

we would welcome advice as to whether to accept this amount or do we have grounds to take it further?

thanks , ken.

DRUMSTAR

Im in the same boat had a loan with First Plus i only had the loan for 6 months and settled it, when looking at paper work i was only rebated £2000 on PPI leaving the balance that they took for the PPI £4000, i have sent letter after letter and they are not budging. Ive finnally got fed up and have sent all my paper work to the Ombudsman. Has any one received any refunds back from First Plus??

juliedawn_2

We have been offerd £5,500 .We have our loan still but i'm holding out for more.