PPI Reclaiming discussion

CHIVS_2

LISTEN VERY CARFULLY TO THE RECORDING,if you are still sure you were mis-sold then send a second letter,(in my casethey quoted the loan payment with ppi allready added before i had even spoke about ppi) they will still try to fob you off but make an offer of £xxxx, with an added enhancment of £xxxx and will probebly ask you to call them, they will also say that the offer will come off your loan, ring them and politly tell them that you want the money paid direct if thats what you want ,or go to fos

tufty1964

Thanks for the advice Lisaw, might try and reason with bank first then if they don't play ball I'll contact CAB, you got a good reduction on yours. How do I cancel PPI can I just go into branch and cancel it?

Maggie_Holmes

I must be slow I think when I started this in November all the First Plus reclaimers have got their PPI's back thats Vodkafreak, m.colak, cocker100, daynurse and even a couple more since Laini Ithink Nova is a First Plus reclaimer I Hope there is still some money in the pot for me.

I think when I get my next letter I will go straight to the MD no messing hey.

Probably end up going through the FOS knowing me.

Maggie

DuncanChambers

petermb wrote: »

Hi Duncan,

I hate to disagree with you but your comment about not being able to claim is simply not true. The fact that you have now paid the loan off means that the lender, in this case Virgin, will still owe you some money. How much depends on the circumstances surrounding the loan. Invariably the ppi is the least amount that you should be able to claim.

Thanks for the reply, although i'm still unsure whether i can make a claim unless anyone has claimed with the same circumstances.

Duncan

FrugalJo

jessicad wrote: »

Can anyone help me please?


How does this sound for a step 2 letter:

I am writing in response to your email received on 7th March 2008. With regards the insurance sold with my Cahoot fixed rate loan. Your reference Tracking number: A00004157769-00011775947

I appreciate the very prompt response on this matter, however I do not feel your email has offered a satisfactory justification that my policy was sold fairly, reasonably and within my best interests so I request that you look into my complaint again. I maintain that did not understand that I was accepting a PPI insurance, and certainly was not aware that it was optional or more importantly that the monthly repayments were including an additional fee for this policy.

Upon recognising that there was an additional amount of the loan repayment for this insurance policy, which I neither wanted nor needed, I cancelled it at the earliest opportunity. My records indicate this was 15 months after opening the loan account.

Thank you for your assistance thus far, I await your response, and if I do not receive a more favorable response within 14 days I shall be taking my complaint to the Financial Ombudsman.

?? any advice is appreciated.

Hi Jessica
Giving you a bump.
I no expert but it looks good to me, but would like to hear what everyone else thinks about this letter, as I haven't heard much about Cahoot successes .

nova

Hi Everyone, l am compiling a letter to NW after two letters about ppi they still said NO, in my opinion the ppi was very,very expensive and could'nt claim anyway because of existing medical condition etc SO l remembered my son studied law at college a couple of years ago,so l got all his notes out and found "the sale of goods act" this is where goods have to be reasonably priced and fit for purpose, ppi being neither of these, also l found some present day ppi quotes, you should see the difference ie NW ppi was £3,496.92 over 84 months including interest,present day stand alone quote £356.16 over 84 months with no interest, so that fits "the sale of goods" act nicely,and just for extra measures l'll include "mis-representation act"!
Hope this helps people a bit, iflm wrong in using this act will one of the experts let me know, Thanks.

Gori

Hi Eaglegunner,

Any luck with Barclays guys?
I was about to do the same as you did (hoping to claim PPI on two Barclays loans - one from 1999 and one from 2000) and if you find a bit of time, I would really appreciate any tips.

Cheers,

xG

Triggles

Argh! Typed this all out and it was erased! I will try again.

OK. Facts are as follows:

Tesco loan 2004

Main loan £7000
"insurance loan" £1262
total credit = £8262

total charge for credit £1664.40

total loan payable £9926.40

repayments - £140.16 main loan repayment
£25.28 insurance loan repayment

---

Topped up Tesco loan 2007

Main loan £4475.83 for refinancing 2004 loan
£7166.17 for new loan
"insurance loan" £2476

total charge £2655 (interest - includes £465.80 for insurance loan)

repayments - £230.52 main loan repayment
£49.03 insurance loan repayment

---

Now when we got the second loan in 2007, there was NOWHERE on the paperwork where we got a refund for the 2 years of PPI insurance (which they've already admitted was mis-sold due to the whole pre-existing medical conditions issue). So basically, we're still paying for 2 years of PPI not used as that loan was closed, while we're also paying for a NEW PPI, right??

So.... how do I figure out what is the appropriate amount of monetary reimbursement. Tesco told DH on phone that they would reimburse PPI payments made on first loan - but I think they should be reimbursing the whole amount paid thus far plus interest as well as reimbursing the amount carried over to the new account as well as any interest paid on it now or through the end of the loan. Am I correct? Can someone please tell me how to figure this out?

Tesco very irritatingly called to discuss it and happened to catch DH early in the morning after he worked a late shift and simply wasn't connecting what they were saying. He didn't agree to anything over phone, thankfully, and told them to send it in writing and we'd look at it. I've also asked him in future to tell them we don't want to discuss this over phone, but through mail so we have proof and no chance of misunderstandings. I'm expecting a letter from them with their offer any day now, so I'd like to be able to figure out what we should get versus what they will offer. Any help appreciated! Thanks!

nova

Maggie_Holmes wrote: »

I must be slow I think when I started this in November all the First Plus reclaimers have got their PPI's back thats Vodkafreak, m.colak, cocker100, daynurse and even a couple more since Laini Ithink Nova is a First Plus reclaimer I Hope there is still some money in the pot for me.

I think when I get my next letter I will go straight to the MD no messing hey.

Probably end up going through the FOS knowing me.

Maggie

Hi Maggie, it's nova,no lm not claiming from first plus, mines with nationwide, they're like trying to get blood out of a stone but m.colak said just keep going so l am, been doing loads of research on laws and acts and things, so have written to nw niceish but firm quoting sale of goods act and misrepresentation act too, now see if l get any where!!

katiekittykat

Ok Finally had a reply from Natwest, basically saying they don't believe that i was mis- sold as i signed and had 30 days to cancel.

What can I do now?

xxx