PPI Reclaiming discussion

m.colak

cmac wrote: »

hi everyone,
ive read all thats gone before with all of you.
god your good
ive taken all the advice and sent GE money a stonking letter stating:
(followed your misleading advice to contact FOS and as you would have known they were unable to help due to the fact that you were not members of GISC at the time my complaint relates to)

I am not prepared to be fobbed off or sent on a wild goose chase as you have given me the wrong information.
now requesting full refund of ppi and 8% interest as court would award.
threated court action - scared but hopefull :eek:

thank you to everyone inthis forum and im keeping my fingers crossed

cmac

Hi cmac have you tried the FLA website first before you send a letter sending court action. As i've said before try and go through an arbitrator first if possible. Court should only be taken if the case is open and shut and you know exactly what you wish to reclaim in amount. The arbitrator's can work this figure out for you and carry out all the leg work without you getting stressed.

petermb_2

MiniLauraRocks wrote: »

HI

Have a question in relation to article., sorry if its been asked before:

I am in process of trying to reclaim whatever PPI i can for two loans:

One is for a loan, that I have refinanced without PPI - i had claimed on PPI about 6 months for 6 months then refinanced 6 months later. Do i have any chance of reclaiming anything back? I lost my job hence the claim, then went onto employment on a fixed contract - so PPI became invalid? Who do i send letter to? The insurance company? the bank?

Next loan is my OH - he took out small loan (3500) at 22% interest plus PPI of £1500 or similar, didnt have a clue about it, and also became a student not long after loan was taken out - invalidates any claim on it for unemployment? sickness? He has other debts and wants to get a bigger loan to clear it all - is it possible to ask them to remove PPI from loan and refund him? as its gonna be a few months till he has new job enabling him to take out laon again?

I am going to throw a real spanner in the works here.

I am pretty confident that a successful claim regarding ppi can be won even if you have already sucessfully used the insurance policy.

The reason, as I have said many time before, is that there are more ways of making a claim other than mis-selling. Mis-selling is a very hit and mis affair with many contentious issues surrounding. Other issues identified however are more solid as precedence has already been set in an appeal court.

petermb_2

Clairel29 wrote: »

Hi

Well just received my 2nd letter back from Central Capital telling me to go away basically.

They are saying that because of sites like this people are just putting in claims for no reason - blah blah.

They are also saying that because they were not regulated in 04 then I have no leg to stand on, that I cannot use the "mis-selling" term as it did not exist then.

They also said that this was their final response on the subject.

They also said to go to the FSO if I like but they will not do anything as it was unregulated.

So where do I go from here.

I have sent letters to FP also but not had any further response, after their initial response to say not their problem as it was arranged via Central Capital.

I am waiting for FP to send me my settlement figures to see if I can go down the unfair rebate route.

Help please.

Thanks
Claire

Hello Claire,
The fact that you have a loan with FP that has ppi added to it means that you will be able to seek redress from FP on a number of issues. The least of which will be mis-selling.

I can understand all the garbage that both the broker and the lender will spout out but at the end of the day the issues still exist and you will be able to make a successful claim.

petermb_2

Originally Posted by aaaaaaa
we took out a loan with a single premium insurance in april 2000, but paid it back 16 years early in 2004, the loan was with GE MONEY, but was brokered by ocean finance, we have tried to reclaim from GE MONEY but they say we are not entiteled as the sale was arranged by ocean finance, and that our complaint will not fall under the jurisdiction of the financial ombudsman as the insurance policy was sold prior to january 2005. Does anybody know if we can go anywhere fromhere?

The simple answer to this one is that depending on whether the loan is regulated or unregulated under the Consumer Credit Act would indicate whether this particular loan would be deemed to be voidable or unenforceable. It will definitely be one or the other or even both.

Laini

m.colak wrote: »

Hi thank you for the votes of confidence as i always try my best and contri to LISAW i am not a financial wizard:o . I just have done lots of PPI reclaims and now know the ins and outs and what tricks the company will play and how to fight them. But again thank you all as i try my best to help.

If you imagine the FSA have like a counter and everytime one company gets hit by the FOS the counter goes up. If the case is severe enough then the case will automatically sent to the FSA if its a very serious breach. What may eventually happen is the same as the bank charges case where the companies have been found to be in the worng so many times the FOS in conjuction with the OFT and FSA may raise a test case against the major companies involved to get them to review and refund.

Hope this helps.

thanks for making it clear.

I will keep posting any updates but for now I will just keep reading everything - NO MORE QUESTIONS!
and sitting tight and holding on for a reply from FOS( for the time being)

ttfn
Laini xxx:easter_ba

sian-c_2

hi
as mentioned before i am trying to claim from first plus for mis-sold ppi and have been offered 78% rebate and just over 1,000 to be 'applied to the loan account'.

am i totally missing the point here why am i not able to claim for the whole 14,000(the ppi amount added to loan) to be took off the loan account and full refund of my payments?

I am scratching my head thinking if i am in the right before i finalise my 3rd letter to first plus. hope somebody can set me right!!!
sian

petermb_2

I think the lenders are taking the whatnots.
Do not be put off by this. You will be entitled to the £14,000 and more probably.

ANY_CHANCE

Hi i have written a letter re unfair rebate what do you think?

I am writing with regards the rebate given on the early settlement I still believe this to be an unfair rebate.

This is due to :-

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 the rebate does not reflect the possible costs incurred
Again I also back up my belief that the rebate is unfair, with the unfair rebate terms. The Financial Services Authority has stated partial refund terms to be unfair under the Unfair Consumer Contract Terms and Regulations 1999. They state that refunds should be ‘calculated fairly’ after taking into account ‘justifiable costs’. Therefore i do not believe the rebate given was fair.

£12000 added to the loan as a single premium payment, interest was being paid on top of this value and a number of monthly payments being made on top of this, a rebate given of £1933.71 does certainly not seem fair as it is disproportionate in accordance with the FSA ruling on disproportionate rebates.

If i do not receive a letter from you offering a satisfactory justification that 14 days I shall be taking my complaint to the Financial Ombudsman.

ANY_CHANCE

why do i have losts of red on my post above???
what have i done wrong now?? :rotfl:

carlsberggal

Quick question if anyone can answer. Am claiming PPI on OH behalf through Lloyds. Have had a response to my first letter saying they have listened to the telephone call between OH and telesales woman and that they believe they didn't mis sell as he agreed to PPI. This was back in June 2005, do they hold tapes that long? I've asked for a copy in my second letter and that I strongly dispute what they are saying