PPI Reclaiming discussion

angelwillow

angelwillow wrote: »

Having a bad day - also got letter from G.E saying it didn't matter that I just signed where the girl in the shop told me to sign,it's my own fault for not reading it all.
Am I snookered on this one aswell?

Any advise on this one please?

kats9lives

Hi, Can someone help me.

How do you calculate the refund for PPI on a credit card?

lillymay1975_2

Hi

hope this is the right place?

Had a loan with HFC/Household whatever? back a few years ago this went on and on back and forth Cardiff branch as they kept telling us to borrow more to pay other debts off? anyway all came to ahead in 2006 when we were taken to court over non payments to HFC, monthy payments were around £300 per month, anyway had PPI cover which added around £7000 onto the amount owed we paid up within 2 years we re-mortgaged to get them off our backs and without us losing our home, i have written to them 3 times got in touch with Financial ombudsman they have not got back to me, we had a final letter from them Monday stating that we can take them to court of we want they basically don't care.
My questions are:
1. what else can we do

2. have we got a case as we paid up 12 years early on the loan and the PPI was included

3. we were told to take the PPI otherwsie we probably won't get the loan

4.the PPi was only in hubbys name not mine aswell? strange that?

anyone else had dealing with these numpties?

any info would be great thanks;)

murplemouse

Hi there,
I've never used one of these things before, but this PPI business is making me go crazy, so I hope you can help.
I took out a loan for £5,800 from Barclays a couple of years back and took the insurance because I was told it was only a small part of my £140 a month repayments. I've just found out that it's £35 a month. I would never have agreed to it if I thought PPI was going to add more than £2,000 on my loan.
But I did agree to it and signed the paper work. barclays have already come back to me and said there is nothing they can do.
What should I do - just keep writing back saying it's unacceptable or get another loan to pay off this one?
I don't understand this standalone insurance thing either - can I just cancel my PPI from now or to I have to take out other cover.
thanks

becks.989

is there any success stories with welcome at the moment. i feel like it will come crashing down around me before long. just wanted some good news.

lotto-dreamer

kats9lives wrote: »

Hi, Can someone help me.

How do you calculate the refund for PPI on a credit card?

It seems particuarly onerous on a credit card – because as far as I can see, it gets added to the continuing balance - attracting additional interest on top (or am I wrong here?)

Also, does anyone know if PPI has always been available as stand alone insurance? Or has this only come into being over the past few years? Before I found MSE I was totally unaware that it was available separately.

Surely, [strike]lambs to the slaughter[/strike] customers should be advised of all the options open to them before they sign up. I thought that was the whole idea of APR, Plain English campaign etc. Why not PPI......

Shouldn’t there be a clause (similar to a mortgage offer where it is pointed out that buildings insurance can be taken with the lender or separately) showing all options.

avstar

becks.989 wrote: »

is there any success stories with welcome at the moment. i feel like it will come crashing down around me before long. just wanted some good news.

Yes been meaning to post for a couple of weeks but keep getting distracted.

My other half had a payment from HSBC a fortnight ago for £1,300 - full refund of all his loan PPI with interest, and they've re-done his loan with the old interest rate (not the current higher one).
:T
Thanks MSE so much for all the help, advice and letter templates. It only took one letter and they wrote to say they were investigating, then wrote with the offer...altho the offer letter did say we are not admitting anything wrong.

He's paid off some of his overdraft and caught up on some CC's that were falling behind. Now trying to persaude him to claim his CC charges back.;)

YEOSAL

Hi

Have just had a first "no" letter from Lombard Direct. The letter has loads of small paragraphs which would answer every complaint for misselling that could possibly be sent to them.

One of the first lines states "This letter represents our final response and needs to be a stand-alone document".

I am rather confused by this, wondering if this wording forms notes of a template and should not be in there. Has anyone else had this in a reply letter?

The basis for misselling in this case as I was told I had to have PPI and could not have loan without it. The loan was taken out in 1998 and finished 2003.

Has anyone had any success with an old loan?

One last thing - from a line quoted from letter "You were provided with information about the optional nature of the loan on the phone". Should I be jumping up and down on this quote and request phone records as they sound confident about this and I know it is rubbish.

jessicad_2

Hi all

i have written to Cahoot regarding my Payment Protection Policy, explaining that I believe it was misold as I didn't realise it was optional when I completed the application. I did cancel the policy upon realising that I was able to do so, and now understand that on this basis I should be able to reclaim.

Their first response is a no, because on the online application you have to select a box to say you have opted in and understand the T&C's. This indicates that I knew it was optional. Their wording is as follows:



From your letter it’s clear that you believe that you were mis-sold a payment protection policy as you feel that this was not explained properly to you, and in fact that you did not realise you had taken out the policy when applying.

I have reviewed our records and checked the application that you made online via the cahoot website on the 7th April 2004. This application clearly shows that the payment protection insurance option was selected during your application. This product is an opt-in extra offered on our website which the customer has to select. Once the insurance product had been selected, the full terms and conditions of the policy were then displayed and before you could proceed, you clicked on a declaration to say that you had read and accepted the terms and conditions of the fixed rate loan payment protection policy. Without selecting this confirmation that you had read and understood the terms of the insurance it was not possible to proceed with the application.

As you do not dispute that you applied for the cahoot fixed rate loan account and the loan insurance was clearly requested during this application I cannot agree with your statement that the product was not explained to you.

Unfortunately I am therefore unable to agree to your request to refund all premiums charged for the payment protection insurance fully appreciating the disappointment this will cause.


Is it possible to still dispute this? How should I address this in the next step?

Thanks for your help

FrugalJo

Hi Jessicad
I'm not going to be much help but figure I'll be in the same situation. Be interested to see what the next step is. I followed my online application up with a call regarding the loan limit though.

My initial thoughts on your situation is that it wasn't made clear it was optional online ?

There is member on the consumer action group that has successfully claimed even though they applied online see this link :

http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/132468-cahoot-refund.html?highlight=cahoot