PPI Reclaiming discussion

m.colak

russbeck wrote: »

Hi, We have written to Blackhorse asking for all ppi back as we didn't want the cover and were told that we had to have it. They have said no to our request so we are about to take this to court. All along our arguement has been that we were told we have to have it when we didn't want or need it. We have also just realised we have been charged over £2000 for it when we only had the loan for 3 months before settling early. We have never mentioned this in our letters. We are about to send a letter saying we will take this matter to court. What arguement should we use:

* We were told we had to have the ppi in order to get the loan
* We were not given a fair rebate on settling the loan
* Both!

We have never mentioned the Misrepresention act 1967. Also is there some sort of 'act' we can use for the little/no rebate arguement. When we do take this to court will we need an 'act' to back up our arguement.

Sorry for asking so many questions, we just want to get it right.

Hope someone can help.

Let me guess that they flashed their statement of requirement that you signed stating that you wanted the loan paid off in the event of something happening. They tried this on me too.

In the event that you have overpaid them (probably) i would check your finances. Do you require the money right now?? If not send it through the FOS let them deal with it. If you need the money you have to do a couple of calculations as to how much you want back and also quote the Counsumer Credit Act 1999 which in it states an over reliance on the part of the company on information sent through the post to explain rather than ensuring your needs were meet and therefore negligence in line with the 1967 Mis representation act. Hope this helps.

m.colak

Am off to bed now so everyone take care and keep your chin up. If you are desperate PM me and i will answer back as soon as possible.

http://www.financial-ombudsman.org.uk/publications/factsheets/payment-protection-insurance.pdf

Maggie_Holmes

m.colak wrote: »

Hi i'm a little confused with your figures please could you set them out so as easier to understand.

Loan Figure
PPI Figure
Loan Charge
Number of Payments
Start of Loan Date
Final Payment Date
Settlement Figure

I found it differcult to follow your figures as your original loan was 27.5k and then two lines down you start quoting on a figure 70k+ so am a little confused. Lets deal with one loan at a time that is the best way to deal with them all. If you consolidated later then we will deal with this after.

Just done this very long reply to you, laid everything out, just about to submit reply touch some other key and lost the lot, so fed up now, can't go thru all that again tonite, so will do it all again tomorrow, tired, and cheesed off will post Tuesday Evening.

Maggie

daynurse

WILLOW wrote: »

Hi am waiting for a response to my second letter, does anyone know how they work out the 78% rebate, is it worked out on the whole amount of ppi paid or does it relate to how long you had the loan before you paid it off.

appreciate any replys

thank you.

it actually works out at approx 50% of the ppi policy, it depends on how many years paid and how many years left

daynurse

m.colak wrote: »

Am off to bed now so everyone take care and keep your chin up. If you are desperate PM me and i will answer back as soon as possible.

http://www.financial-ombudsman.org.uk/publications/factsheets/payment-protection-insurance.pdf

at least you have got to bed! im on nights at the mo on my break thought id have a nosy at the forum
sleep well

mortimerrankine

m.colak wrote: »

I can't post any information on the results but if you look on the PPI thread successes:

http://forums.moneysavingexpert.com/showthread.html?t=524031

They might contain some success stories about MBNA and EGG.

As for your three loans i have successful hit black horse on three consectutive loans which i had. Am now onto the third thorugh the FOS so as to make sure i get the maximum refund.

I am still getting nowhere with Blackhorse it is with the FOS but since both loans are 2003 we will probably get told they cant help us. Do you think i should pass it to a third party now. I just feel we are not informed enough(and i had been on the forum everyday) to take them to court ourselves.
Anytips or help much apprecitated

m.colak

mortimerrankine wrote: »

I am still getting nowhere with Blackhorse it is with the FOS but since both loans are 2003 we will probably get told they cant help us. Do you think i should pass it to a third party now. I just feel we are not informed enough(and i had been on the forum everyday) to take them to court ourselves.
Anytips or help much apprecitated

Its up to you. If the loan is completed (not settled) then you have no problem taking them to court and reclaiming your PPI in full from them. If you settled the loan some additional sums will be needed before taking them down the court route. Never use a third party as they charge you for reclaiming. I know some of them say that they charge the company but it may reduce your offer using them. Plus you can do it all yourself you don't need any compnay sending the exact letters you're going to send for you.

m.colak

Maggie_Holmes wrote: »

Just done this very long reply to you, laid everything out, just about to submit reply touch some other key and lost the lot, so fed up now, can't go thru all that again tonite, so will do it all again tomorrow, tired, and cheesed off will post Tuesday Evening.

Maggie

Chin up Maggie try again today and i will answer as soon as possible with rough working out.

DaisyBella_2

YEOSAL wrote: »

Hi
I could really use a bit of advice. One PPI I am trying to reclaim is from DFS. I bought sofas in 2000 and finished paying in 2003. Done all the letters and sent forms to FOS. FOS tells me DFS were not regulated by them at that time (cant find out who they were regulated by). I want to take them to court and although I have the original paperwork, I do not have T&C. The amount is only £240 and it was a long time ago but it is my money and I cannot believe I have been conned out of it so really want to fight to get it back!!!!

I am a partner in a business with staff so have an income whether I go to work or not and would never have opted for PPI as payment was only £46 per month so was unaware of having it.

Sorry it is so long winded, but does anyone have an opinion on whether taking DFS to court would have a prospect of success?

Thanks x

I am in a similar boat to you with DFS/NOVA. My lounge suite bought in Dec 2000. I wrote 2 letters to Nova with no response. I then realised (duh) that I should be writing to DFS as they are the ones who completed the credit agreement. Fortunately I had a copy of the agreement - and surprise surprise, although I had signed the form (which does show amounts) - the section that has PPI (optional) and then a blurb which ends with 'tick this box if you want it' - well that box is not ticked. Therefore it was never explained to me the amount was just automatically added by the sales assistant. This was also my first ever credit application (other than my mobile phone contract) and so I was none the wiser. Anyway, I then wrote to DFS and enclosed copy of credit agreement. They phoned last Friday to say NO. You paid it off years ago, too late, and they don't keep records that long blah blah blah. I mentioned that as I had a copy of the credit agreement - I didn't need their records and the PPI box is not ticked. DFS said - NO and this is their final response. I said 'fine' - please send in writhing - which they did. They cleverly word the letter to say you can contact FOS but very old but maybe in exceptional circumstances blah blah. So I figure today (it is payday) - I am going begin a claim via MCOL. DFS know that FOS can't help me and I know that too - so I figure filing with MCOL may scare them into action. I will let you know what happens (fyi my amount is about £330, but when you add on the interest of 8% it looks a lot better). Also - if you like, I probably have the PPI details at home - and as we bought round about the same time and were both financed by NOVA they were probably applicable to you too???? I will have a look and let you know if that would be of any use??

m.colak

DaisyBella wrote: »

I am in a similar boat to you with DFS/NOVA. My lounge suite bought in Dec 2000. I wrote 2 letters to Nova with no response. I then realised (duh) that I should be writing to DFS as they are the ones who completed the credit agreement. Fortunately I had a copy of the agreement - and surprise surprise, although I had signed the form (which does show amounts) - the section that has PPI (optional) and then a blurb which ends with 'tick this box if you want it' - well that box is not ticked. Therefore it was never explained to me the amount was just automatically added by the sales assistant. This was also my first ever credit application (other than my mobile phone contract) and so I was none the wiser. Anyway, I then wrote to DFS and enclosed copy of credit agreement. They phoned last Friday to say NO. You paid it off years ago, too late, and they don't keep records that long blah blah blah. I mentioned that as I had a copy of the credit agreement - I didn't need their records and the PPI box is not ticked. DFS said - NO and this is their final response. I said 'fine' - please send in writhing - which they did. They cleverly word the letter to say you can contact FOS but very old but maybe in exceptional circumstances blah blah. So I figure today (it is payday) - I am going begin a claim via MCOL. DFS know that FOS can't help me and I know that too - so I figure filing with MCOL may scare them into action. I will let you know what happens (fyi my amount is about £330, but when you add on the interest of 8% it looks a lot better). Also - if you like, I probably have the PPI details at home - and as we bought round about the same time and were both financed by NOVA they were probably applicable to you too???? I will have a look and let you know if that would be of any use??

Ok here's my thinking on the situation:

The sofa was sold to Nova who then sold it too you adding a generous percentage for themselve's. The person who sold you the sofa/furniture was at the time acting as a representative of Nova when selling you the finance. The documentation clearly states that you didn't want PPI however NOVA added it. Therefore on all points so far it's NOVA's responsibility to refund you the money and if the salesperson made a mistake they need to recoup this from DFS not yourself. If you have sent a registered letter to NOVA and they haven't answered get the information commisioner involved as they are in direct violation with the complaints procedure having to answer within 40 days to your request. Use the Financial body i previous mentioned instead of the FOS to try and get them to pay attention.