PPI Reclaiming discussion

Sam2349

Sam2349 wrote: »

Hi,

I wrote to Abbey towards the end of Feb requesting details of 3 loans that I held over a few years and received the details yesterday! I was expecting a slow response but I received copies of my original agreement which states the loan details and PPI payable.

I need help though as to what I should do next...

My original loan was in 2000 for £2000 over 36 months, the monthly rate of protection was £10.31 on top of the monthly instalment; no reference is made to the total payable or interest applied (if any)

My 2nd loan was in 2004 for £10,000 over 60 months (for consolidation as I went a bit silly with a credit card...) and the payment protection was £29.66 per month; again no details are provided of the total payable or any interest applied (if any)

My 3rd loan was in 2005 for £18,500 (Stupidity this time..) and the payment protection on the whole loan was £4488.59 but then advised that the total payable due to interest was £5608.08!

I must advise each loan was to pay off debt and used to clear the previous borrowing!

On the 3rd policy I did cancel the protection but this was only processed over a year later after I had continued to make payments. I cleared the loan in 2007 and received a cheque a few months later saying I had paid too much back. If this was for the protection I do not know as it did not explain anything and was a cheque for around £1300...

When I write my letter requesting the protection back due to being sold incorrectly etc how much do I ask for? Or do I simply ask for it back and let them calculate what I could potentially be due? (using the template)

I expect loads ask this so I apologise if this sort of post has been seen numerous times...

I look forward to your help!

Thanks

I posted this on Saturday but nobody has replied (unless my eyes deceive me) Would somebody be willing to offer some advice?

Sorry to post the same again but I would like to try and get my letter sent asap and don't want to make a simple error when requesting my money!

Thanks again!

m.colak

Hello everyone hope everyone is ok and doing well in their claims against the financial institutions. Sorry i haven't been around but have been home taking care of wifey and son so will gladly help anybody whom asks for advice. On another note Petermb i don't agree with you about don't do after the broker because at the end of the day they sold the product to you and therefore had training and knew the personnal situation of the person involved it's 9/10 their fault not the company who lent. Likewise they could be actually classed as part of the company whom sold you the policy as they were the representative but it the end of it all it is their fault.

You can argue this until the cows come home but if someone sold me a policy that they weren't astute with them they were negligent. If they sold me a policy negligently then as the representative of the company they are liable. ergo. If at the time they received a commision from the loan company for the sale of the product then again they are responsible however in this case its the loan company whom you claim against as they were a representative of the said company. Either way the claim starts there not necessary the financial company in question. There is no blurring of the lines in this.

Second of all i agree that in some cases where people have consolidated their loans then yes there is a good chance that your rebate was disproportionate and yes you are seeing yourself off by not quering this too.

Remember one thing the companies don't want to pay you so will try everything to distract you or give up keep fighting and you WILL get your money back.

petermb_2

Hi
WE could debate this over and over but the broker rarely arranges ppi. They advise you to have it but the lender arranges it. The real point is that ppi is only one issue. Yes I totally agree that the policies are, in the main, not worth the paper they are written on and yes they were mis-sold BUT this is not the only issue. There are many and quite often the borrower will be due back far more than just a ppi premium.

But you are correct, the lenders do not want to pay and will go to great lengths to prevent you from receiving what is due to you.

alliepallie

delboyuk2005uk wrote: »

I bought an sofa from dfs, and I felt pressured into taking the insurance with it. Would ill be able to claim on this at all? Its all paid off now but i have the paperowrk is it worth writing to them using the template or is this just for bank loans?

hi - definitely go for it, i was advised on saturday that they will be refunding mine (150 quid) as it was missold - they tried to fob me off, but i stood my ground with them - i used the template on this site

Laini

Clairel29 wrote: »

Hi

I have just settled my loan with FP and trying to get back PPI but we did not get a rebate on our PPI.

Please help, what do I need to do to see if we have had anything back from our PPI and is their a standard letter about unfair rebate.

Thanks
Claire

Hi Claire

just to say ring them and ask for a breakdown of figures on your settlement to see what rebate you got if any ask them to send it in a letter instead of trying to write it all down over the phone. or email them its quicker than sending a letter to them.
then when you get that try and workout how much you got as a rebate its quite plain to read it should say what you have paid off and what for.

if you are sure theres no rebate ring them and ask why and ask for a rebate.

hope this helps

Laini xx:p

Clairel29

Hi Laini

Thanks I will give that a go.

Claire

FrugalJo

Hi
First response from Abbey re my Cahoot flexible loan - a 9 page letter which includes a 14 point questionnaire asking intrusive questions from marital status, income and outgoings at the time I took out the policy to details of other policies including assets. Also asking for a 'current insurance schedule' ?

I don't see what any of this has to do with my claim, they had my full details at the time - 2001 - they also ask questions regarding the reasons for taking out the policy, seeing as I had no knowledge of the policy being sold to me I can't answer any of it !

I'm thinking that I should just return the questionaire unanswered with template letter 2, adding the points that they have all this information.

What have other Abbey customers done ?
Advice appreciated

mortimerrankine

petermb wrote: »

Hi
WE could debate this over and over but the broker rarely arranges ppi. They advise you to have it but the lender arranges it. The real point is that ppi is only one issue. Yes I totally agree that the policies are, in the main, not worth the paper they are written on and yes they were mis-sold BUT this is not the only issue. There are many and quite often the borrower will be due back far more than just a ppi premium.

But you are correct, the lenders do not want to pay and will go to great lengths to prevent you from receiving what is due to you.

can you elaborate on what other issues there sre i know you cant say much but even if you pm me i am having an awful time with welcome and need as many pointers as i can get

Laini

Laini wrote: »

I am confused
so do you think they put the consumer credit reg on your letter hoping you will not find out the FSA reg 1999
can the FSA over rule Consumer credit reg?

hopefully someone may enlighten us

Laini xx

Dear M. COLAK

Do you have the answer to this.
Laini xx:rolleyes:

wildanna

[quote=m. hi mr m colak is there a template letter for the unfair rebate been looking through the threads and there is only bits of it mine is with ge money but got it loans.co.uk many thanks