PPI Reclaiming discussion

fishy81

ANY_CHANCE wrote: »

Hi hope everyone is well,

Just found out today a loan with the Halifax has a single premium insureance of 2,479 making the total debt 12,479

I have written the following

I purchased the above policy from you in March 2003 but now believe that I was mis-sold this policy for the following reasons:

I was led to believe by your salesperson that I had to have the insurance to enable me to take out the loan. I was not told this was optional and that I could have taken one out elsewhere. I believe details of the insurance and as to its suitability were not discussed with me.

The insurance sold to me was a single premium insurance I did not fully understand at the time what this meant. I believe that as insurance contracts are contracts of the utmost good faith where there is a duty of disclosure because one party is in a strong position to know the truth. I believe that the single premium payment made me borrow more, rather than just pay a monthly fee for insurance. I believe that you should have made it clear to me that the policy generated large amounts of money for you. You did not do this and therefore I believe you have failed in your duty of disclosure. Your failure to disclose is misrepresentation at common law.

The consumer credit act 1999 states an over reliance on the part of the company on written information to explain rather than ensuring your needs were met and is therefore negligence in line with the 1967 misrepresentation act.

I would not have taken out this cover if I had had not been mis-sold and certainly would not have taken out single premium insurance.
I feel that the mis-selling of this product forced me into further debt by borrowing more money than was necessary. As a result of this it has been a contributing factor leading to financial difficulty

What do you think ? Have i used correct arguements?

Hi Any Chance
Seeing as you helped me, let me see if I can help you?! :rolleyes:

I have stuck more to the basic format of Martin's draft letter, just with bullet points of the reasons why.

I will be honest and say that some of the legal things you have written are over my own head, maybe someone else knows?

However, the overall letter sounds good.

But, I think you should have an end paragraph about wanting to get a refund, like on Martin's draft and give them a time limit in which to reply to you. Hopefully that will put the pressure on them a bit more to get you an answer at least.

Good luck!

ANY_CHANCE

Thanks Fishy81,
Yep i have put the end bit on in the full letter x

fishy81

I'm back!

Another one:

PPI on a capital one card, but the address given is a PO BOx address to make payments to. Should I send letter here?

Also, anyone know if lenders/card people etc can throw you out as a customer or make life hard for you if they see you have been trying to do a PPI claim? Or demand full repay?

(Ie like the banks that threw people out when the agrued re bank charges?)

thetealady

h007 wrote: »

has anyone here claimed against egg card?
after watching the program last night i am thinking of making a claim because i am sure i was never asked if i wanted the insurance - it was just automatically added when i got the card and i was too stupid to question it.

so i am thinking of making a claim - any tips?

Hi, I have also been in correspondence with Egg. Back and forth, for sometime.

1st Letter was the template - their response, no, plus what is supposed to be copies of the screen that I have completed.

2nd letter asking why copy of screen states my employment address as my home address (I know for sure I would never have done this:mad: )- their response was to send me a copy of their original letter saying refer to that!

3rd letter stating they haven't replied to my questions, gabbles on about the screen being information I have keyed and that at no time can it be altered by egg staff!!! (V. odd.....this has never been suggested by me). I also queried 2 amounts at the bottom of one of the screen prints, which that say was my credit limit, and I know the credit limit on my card has never been this high!!!!!!

After lots more gabble gabble and blah blah blah, they have the cheek to say we are no longer going to be entering into correspondence with you regarding this matter........ refer it to the FSO.

So hi ho hi ho its once again off to the FSO!!!!!:D Will keep updates posted!

kats9lives

I've just received all the statements for my old Beneficial Finance credit card, its only now that i have found out i had PPI for this card. How do i calculated how much i should claim back? sorry if i seem like an idiot but PPI doesn't seem quiet so straight forward as claiming late credit card fees.

nova

kats9lives wrote: »

I've just received all the statements for my old Beneficial Finance credit card, its only now that i have found out i had PPI for this card. How do i calculated how much i should claim back? sorry if i seem like an idiot but PPI doesn't seem quiet so straight forward as claiming late credit card fees.

Hi, l would think that you go through the statements and add up all the ppi payments then add on the interest,thats how lm going to do it anyway.

ANY_CHANCE

kats9lives wrote: »

I've just received all the statements for my old Beneficial Finance credit card, its only now that i have found out i had PPI for this card. How do i calculated how much i should claim back? sorry if i seem like an idiot but PPI doesn't seem quiet so straight forward as claiming late credit card fees.

Hi
You may already know this but ive just had a quick look at the PPI reclaiming guide it says if you have the paper work just add up the monthly payments that you have paid. Put your 8% on top?

OR if you dont have the paperwork send a letter to your lender requesting a full breakdown of your account, specifically including the cost of the insurance.

TwinsMum_2

Well I am still here and still waiting for a reply from FirstPlus, Now with FO, been trying to ring FO but can never get through just keep getting a leave a message and we will contact you, I know they must be busy but:mad: . Just looked on FirstPlus website and the loan that I have has a monthly payment of over £100 less than mine for new applicants, how does that work then interest rates are higher, only now they have a arrangment fee of £995, don't they get enough as it is greedy devils. Anyway have requested tapes from them as I don't believe they explained everything to me.

On another note I did claim back PPI from HSBC back in November for loans but they missed one out so going after that also, they say that the reason they paid out the others was because they had no paperwork for my loans, I am claiming on the basis that I only worked 10 hours a week, so I have sent of my contract of employment to prove this, so hopefully they will pay up.

Million thanks to M.Colak who has been most helpful in trying to help me, I have followed his advice so hopefully I will get somewhere with my claims. DayNurse has also given me hope I have not emailed MD yet but may well do when I pluck up the courage.

slater_2

markrussell78 wrote: »

Hi need to know if this is still worth persuing..
Made a claim to mbna about the ppi i had been paying since having the card from 2003. Eventually got a second letter from them stating I had requested the cover and sent a copy showing where I had opted for it. However nowhere on this copy of the form does it show a tick or signature saying i wanted the cover. There are only two ticks and they state that I do not want to be sent mail or email regarding other products or services. The only signature is the one required to obtain the card. I feel I m being fobbed off and they are taking a chance. Is it worth taking to the financial ombudsman?

Cheers Mark

Hello Mark

I am new to the site but I am in the same boat as you so to speak with MBNA. I took out one of their cards and have been paying for PPI for years. I wondered if you could let me know how you got on with regards to the second letter senario

Kind Regards
STEPH

sheirron

update on ge money ,,
Telephoned their customer service today, very helpful :j letter was sent today 1st class i have to sign declaration to say that once i receive my rebate i will not pursue complaint as soon as they receive this my money will be with me within 28 days:T not sure how much they are offering me so I'm hoping it will be in the letter they are sending ( funny how you don't hear from them for 2 weeks and the day you phone theres a letter in the post) to be honest I'm just glad to be getting something back if it wasn't for the information from this site i wouldn't have had a clue so thanks to all who have posted help and advice even if not directed at me the posts have been very helpful.. will post again once i know how much i am getting:rotfl:
1 down 1 more to go which is also with ge money but that 1 i am pursuing mis sell as i was bullied into it so that could drag on for a while .. :eek: