PPI Reclaiming discussion

ncw6776

Help again?
I cant find my last thread so will give a quick recap but wondered if anyone could help.
£4800 on an Egg Credit Card
Missed payments so my debt was passed to Capquest.
Capquest offered me a settlement figure which I paid on 31st Jan of £4200.
Reclaimed my Card Insurance from Egg at the beginning of Feb who said they owed me £700 which they paid into my Egg card account.
Checked on line and Egg have only paid out £100 claiming I still owe them £600.
I have called Egg and faxed them the letter I have from Capquest saying the account has been settled. Egg have said although they wouldnt have chased me for the £600 and the debt was settled they are still entitled to the £600 back.
Can anyone help? Is there anything else I can do? If I had closed my Egg account as soon as the debt was clear with Capquest I would be £600 better off. Do I just put this down to claiming at the wrong time and move on?
Any advice would be appreciated.

becks.989

Help Please.

I have claimed my ppi back off my car loan fron welcome and their 40 days will be up on monday from the first letter.
I have received a letter today saying they are still investigating the claim and will send me a final response in due course. Has anyone been dealing with them that could tell me if this is just stalling.
The way i read it is, There will be a big fat no way coming through the door in the next couple of days what do you think?

jennyred

jennyred wrote: »

I also email HSBC complaint dept on 17th jan.
got an email next day confirming received email.
got a letter on 15 feb saying they are looking in to it.
got a letter yesterday saying they are upholding my complaint!!

BUT - they state they cant just cancel the PPI and a new loan needs to be taken out "at same term and interest rate". they will not release the money to me unless this is done and if it is not done by 30th march then the offer needs to be "re examined"

so what do I do? its nealy £3000 which I could really do with but I dont want to take out a loan to pay off old loan with PPi and interest and end up paying more.
do you think if its at the same interest and term that it will still work in my favour?
at present owe £18171 with monthly payments of £349 with 5 years left. will they take off the ppi of £4995 before they make me refinance it? or will I have to take a loan of £18000 then pay interest on that?
original loan was for £18000 3 years ago!!!!

please help - what do I do?

any ideas anyone????

Kaia_2

kachar21 wrote: »

I am writing to ask if you may be able to help us. We took out a loan through Freedom Finance in 2003. We now have to go through the Court route we believe, can you offer any advice?

Hi Kachar
We are in the same position as you, so will be very interested to see how you get on, I have sent 4 letters now but they refuse to uphold complaint.
I followed template letters for mis-selling (usual story, not given the option and told essential to get the loan approved....ours was a single premium added to start of loan....and apparently the ppi was for the first 5 years only,with only one of us covered, despite OH receiving full pay when off sick and both of us having pre-exsisting medical conditions.... none of which we realised)
They refused to send us any documents,saying they do not have any as they only keep them for three yrs.
In our case Freedom Finance are the brokers but GEMoney is the lender, so I have written to GEMoney today requesting all documentation relating to our loan, so I can get all the info together to issue a claim.
Keep us posted on how you get on.
I wish you all the best

devon-tony

m.colak wrote: »

Im sorry to tell you mate i have no way of to properly calculate how much you got stung with but will ask a question. I have with my mortgage critical insurance cover with zurich which means should anything happen to myself or my wife the mortgage is paid. Now if you took out this additional insurance policy there was no requirement for the PPI. So the question is if you have been sold PPI on a policy you had insurance for you shouldn't have been sold it. The best solution i can give you is go the FOS as the amount that your are talking about seems excessive and i wouldn't like to comment on the amount you could possibly get back. Plus the company will attempt to reduce the damage by offering a smaller settlement figure. Wish i could help but don't want to give false advice.

Hi yes we both have full life cover to the value of £250,000 with barclays, but was never asked if I had life cover and hence this PPI occured

was also not told that the policy would only last 5 years but be paying double for it over 20 years

the debt is due to be cleared in the next month or so as the house is being sold, hoping this wont complicate things, but no choice as the house has to go.

I know its difficult to calculate but surely if I can get somewhere with the claim that it was wrongly sold, then the refund Im after is huge

monies paid towards the insurance is about £5000 so far, but the way I see it that is if the PPI hadnt been taken then my settlement figure instead of being £93k should have been closer to £73k

somehow I dont feel Im ever going to win this, but Im going to die trying

terry876

Hi all, no joy from EGG. Recieved letter from FOS to say they are looking into my complaint and my details have been passed to a member of there team.Now paid off the loan and apart from my mortgage we are debt free,:T recieved another letter from EGG asking why we took out PPI with our last 2 loans when we had had 2 loans before and an EGG card all without PPI, with the usual you had 30 days to cancel, but we were told it was required so why cancel? See what FOS have to say.

TwinsMum_2

terry876 wrote: »

Hi all, no joy from EGG. Recieved letter from FOS to say they are looking into my complaint and my details have been passed to a member of there team.Now paid off the loan and apart from my mortgage we are debt free,:T recieved another letter from EGG asking why we took out PPI with our last 2 loans when we had had 2 loans before and an EGG card all without PPI, with the usual you had 30 days to cancel, but we were told it was required so why cancel? See what FOS have to say.

Sit tight it could take a while with the FOS.

kachar21

Kaia wrote: »

Hi Kachar
We are in the same position as you, so will be very interested to see how you get on, I have sent 4 letters now but they refuse to uphold complaint.
I followed template letters for mis-selling (usual story, not given the option and told essential to get the loan approved....ours was a single premium added to start of loan....and apparently the ppi was for the first 5 years only,with only one of us covered, despite OH receiving full pay when off sick and both of us having pre-exsisting medical conditions.... none of which we realised)
They refused to send us any documents,saying they do not have any as they only keep them for three yrs.
In our case Freedom Finance are the brokers but GEMoney is the lender, so I have written to GEMoney today requesting all documentation relating to our loan, so I can get all the info together to issue a claim.
Keep us posted on how you get on.
I wish you all the best

Dear Kaia,
Freedom Finance add £7000, insurance onto our loan, and the cover, like yours is only for five years, not ten the length of the loan. I have all the paperwork we were given, but obviously no taped telephone conversations. When the paper work orginally came through they had ticked the the most expensive insurance, this made the payment to high for us. We told them this then they said we should have the insurance cover below, reducing the payment, which we thought we could afford. At no time were we told we did not need to take out this cover with them and at no time were we told it would not cover the term of the loan. The loan turned out to be G.E Money and when i orginally approached them concerning claiming back the insurance money but they passed me back to Freedom Finance.
We are now looking into passing it onto a company that deals with these cases as I feel I am unable to argue my case in court, also I am unsure what paper work I need. Let me Know how you get on, I am very interested.
Kindest Regards
Kathleen.

juliedawn_2

They will not budge on giving us the refund by cheque.I'm really annoyed because other people have had theirs by cheque.Now emailing the MD.

TwinsMum_2

juliedawn wrote: »

They will not budge on giving us the refund by cheque.I'm really annoyed because other people have had theirs by cheque.Now emailing the MD.

Have they given you a reason why, if they are doing it for others surely they must be able to do it for you, unless your circumstances are different only they can tell you really. Sorry not much help.