PPI Reclaiming discussion

m.colak

Laini wrote: »

Dear M. COLAK

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

Hi sorry for the delay in response Laini. Current legistration means that all companies must be monitored by a governing body in this case the FSA. All this means that the company will abide by all decision's made by the FSA in relation to how they handle their policies and complaints. It isn't a threat as such but they try and use the old addage "Well they haven't said we have done anything wrong so we haven't". Nine times out of ten it takes several cases of blatent wrong action on behalf of the company for the FSA act in the area of fining or repremanding the company. Don't be afraid of the statement because the last thing a company wants its name dragged through the courts because it highlights them and the FSA may decide to start getting involed. Hope this helps.

m.colak

wildanna wrote: »

[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

Unfortunately there isn't a template for the letter but in places in this thread there have been some wonderful people whom have posted their official looking letter relating to rebates. I will have a look and see if i can find a relevant post.

Ok found something which you should include in a letter:

As per the

NON-STATUS LENDING
GUIDELINES FOR LENDERS AND BROKERS

Revised November 1997

I directly quote:

"any ancillary charges (for example, on default or early settlement) should be brought to the attention of the borrower before the agreement is entered into and should reflect as closely as possible the costs reasonably incurred by the lender and not already recovered at the time when the charges are made."

I believe that you/the company were in direct violation of this guideline and didn't advise myself on any early redemption charges that would be made on my loan as this i believe could only be the reason as why the rebate you have offered me is disproportionate in accordance with the FSA ruling on disproportionate rebates. I look forward to you response to this letter within 14 days.

m.colak

LISAW wrote: »

Have had my offer. £5519!!

Woo hoo, will now be debt free in SEPT 08!!!

Thanks everyone x

Hi lisaw am really glad for you that you got the rebate you deserved you are an inspiration for the other MSE's keep the good work up and keep reclaiming all the other claims you have (if any).:beer:

m.colak

petermb wrote: »

threats of litigation is the only thing that lenders really react to. FLA, FSA, FOS, they are all the same. The only thing that guarantees a reasonable result is to be able to threaten court action. It galvanizes them. However, you really do need to know what you are doing or find the ethical professional.

Come on petermb play the game. The first course of action is the FOS and FLA if they don't get a response from them in a couple of months then yes then they should think about court action. Court action should only be taken if you know you can prove your case and that you have all your necessary documentation (start making files either way). In my case with the Halifax i sent it too the FOS who asked for the case from halifax for 3 months and got no response. You would thought that would make me angry however when i took it too court i have now a nice letter in my pocket from the FOS saying that they repeatly asked Halifax for the File but got no response. That letter is worth lots as it shows that they don't even respond to a regulatory body. I always advise to go via FOS/FLA first unless the case is clear cut and the person has the money to take it to court. Anything else is just bad advice.

m.colak

Sam2349 wrote: »

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!

Hi sam have just read through your post and yes it seems that you have been given the run around. You have two obvious choices attempt to reclaim the loans rebate and ppi seperately or by dealing with it as a bulk load. Personally if you can afford the wait i would raise the complaint with the FOS as a one because then if it is a case that you have been mis sold PPI or it is a case that you have had a disproportionate rebate in all case's it will be easy for them to assess any compensation you are due or a least force the company to reduce the current loan amount you have to a more acceptable level. Hope this helps.

m.colak

delboyuk2005uk wrote: »

also took out a loan with alliance and leicester then later on extended the loan and borrowed more money. I had ppi on both of these loans at the time, then paid it off early say about 4-5 months early. Is this going to be to complicated to do again?

Also dfs is it worth sending them a letter?

Ok what i would do is start doing is start seperate files for each loan and start making notes on what documentation you have and what your looking at reclaiming and your reason's. Now that you have all this start sending the letters to the relevant companies asking for the Consumer Credit Agreement for all the loans and then follow up with a letter about the mis sold/un fair rebate. Remember all letters to be registered (costs a little more but you get notification of delivery (so as not to waste your time)) and make copies of every letter you send and response you receive. The whole point is to start organising your claims into a managable way. Also get a small diary and note down the dates when you send the letters and how long before they have to respond.

m.colak

gt568 wrote: »

Your company per chance?

Hi GT causing trouble again i see:D . Take it easy on petermb he has his use's there are a few people who need services like his and he does post advice. We all know he has a vested interest and as long as he makes everyone aware then he isn't breaking any rules although the pm is a little bit sneaky (he almost got me that way until i said i said to myself i'll sort it myself). Remember Forum Etiquette and unless he is toting we can't slap him down (Not yet anyway:D ). Petermb please keep posting as your advice is always welcome and i have sent someone your way in the past when the case wasn't clear and i though you could at least give a bit of professional advice.

m.colak

angelwillow wrote: »

It's the last bit which would worry me the most......knowing the right things to say and do if I had to go to court.

Hi angelwillow in most case's the case will be heard in your local court and therefore the bank or company normally never shows (unless its a lot of money). Remember there are a lot of places you can go for free advice here, citizen's advice bureau etc. In most court case's people get wrapped up with the emotional side of it. You just have to remember be claim state your case and let them attempt to persuade the judge that they are in the right. Never get into a slagging match and if you feel like your losing it as for a recess to gather you thoughts.

petermb_2

Almost a compliment. I will keep posting and offering advice because that is my way. My concern is that many readers will not get back what is due to them. Many will give up at the litigation stage, which is just what the lenders want.

I make no apologies for doing this stuff for a living. The fact that the service is free to use should be a plus. The knowledge pool I tap into is second to none. That is not me blowing trumpets, just a fact.

If people are capable of doing this stuff themselves then all power to them however I just think that you are likely to get more back utilising a professional service, who know what to look for.

moonlightpjs

Hi
I would appreciate any help anybody has to offer - we took out two loans with IGroup (through Easy Loans) towrads the end of 2003 - the loans were subsequently paid off a matter of months later in 2004. Obviously I have just come across this so have sent a letter off to GE Money asking for a rebate on the PPI - I have spoken to them today and they say I am only entitled to a refund from the date they received my letter not 2004 when the loans were paid off Surely that cant be right, when we paid the loans off we assumed that the PPI was also paid off - it was a fixed sum amount and we therefore thought it would be cancelled - I have just been advised that we could have claimed up until last week but how could we have done when we didnt know we had the insurance and the loans were paid off

Also, sent a letter to Easy Loans on the same date stating that we had been mis-sold the policies as my husband has a pre-existing medical condition that the PPI would not pay for etc etc . Also phoned them today and couldnt speak to the lady I had to write to but apparently my letter was on her desk and it was going to a different departement that looks at complaints etc etc

Have we got any chance of getting our money back? Any help much appreciated.