PPI Reclaiming discussion

jolindy

I was forced to take PPI (and a few other insurances) from welcome finance in september 2004 (no ppi, no car) my £238 a month turned into £350 per month, so in june 2006 i decided to trade in the car and settle off the balance, no can do, so next option was to voluntary terminate, which i could do but not until september, was told by a garage that i was being ripped off and to contact the financial ombudsman, no use nothing could be done, got rid of car bought a new one (no mention of PPI). I am now going to try and reclaim the money back approx £2000, been offered to go on itv about PPI but its in london, will keep fighting.

paddy1234

Hi, I am new to this site and my first post is a question.

I know a few people have mentioned Yes car credit and I was wondering if anyone has had any luck making a claim against them?

I took out a car loan with them a few years ago and was basically told I had to have PPI even though I did state to the lady I didn't want any extra insurances added. I also go behind with my payments due to being on maternity leave so am still paying off the balance. I think the total PPI is about £2000 can I make a claim against them.

Sorry to ask silly questions but this is all very new to me!!

Many Thanks

richnsuzy

I took a loan out 3 years ago for the sum of £15,000 with HSBC and agreed to the insurance thinking I was covered. I am self employed and was told at the time it was suitable for me, but hearing :money: on the radio, I decided to check for myself. Having never needing it and assuming it covered me for unemployment, it is still unclear from the information I have wether or not I am covered, as paperwork would be sent out once a claim is made. They would then ask for relevant evidence, but i am not sure what evidence i could provide. Also on a loan of £15000 I AM PAYING £4836.40 insurance plus an extra £1856.65 credit charge for the insurance. The policy is with norwich union and i was wondering if any one has any information with the issues i have raised. Any help would be greatly appreciated. Many thanks!

richnsuzy

I took a loan out 3 years ago for the sum of £15,000 with HSBC and agreed to the insurance thinking I was covered. I am self employed and was told at the time it was suitable for me, but hearing :money: on the radio, I decided to check for myself. Having never needing it and assuming it covered me for unemployment, it is still unclear from the information I have wether or not I am covered, as paperwork would be sent out once a claim is made. They would then ask for relevant evidence, but i am not sure what evidence i could provide. Also on a loan of £15000 I AM PAYING £4836.40 insurance plus an extra £1856.65 credit charge for the insurance. The policy is with norwich union and i was wondering if any one has any information with the issues i have raised. Any help would be greatly appreciated. Many thanks!

stevemcmli

I recently came across something which caused me considerable frustration. It is my understanding that there is a ceiling the total amount that can be claimed on PPI policies. As far as I can ascertain this ceiling is a percentage of normal monthly pay (Net pay, I think) and is something like 60%.

For example; Mr Hypothetical earns £1000 per month and has PPI on several credit cards and a PPI policy with an insurer to cover his mortgage ( like me!). Mr H claims on his mortgage PPI which pays £500 per month and then on a CC PPI which pays his minimum monthly payment of £100. When Mr H claims on his next CC PPI, the amount it pays out is deducted from his first PPI because of the ceiling.

The net result is that we can be shelling out hundreds of pounds per year in PPI on which we can never claim.

My questions now are:

1. Are my suspicions correct? Is this widely known about?
2. Is this not a type of misselling? I have never been made aware of this maximum until recently.

They're selling people policies which are totally useless!!!

LISA68_2

Hi there just wondered before i put in a p.p.i claim via ge money are they under the same umbrella as ge capital that have been fined for mis-selling thanks for any replies

RL6161

Hi there. I have received a response from RBS on my reclaim of PPI. They have offered me either 50% of the premiums paid to date which comes to just short of £3000 or I can cancel the PPI insurance and I will get a rebate which will be paid directly to the loan. I would prefer to have the cash back as, in my view this is money that should never have been taken from me (I was told I had to take out the insurance as otherwise they couldn't provide me with the loan). My question is whether anyone else has been given these options. Also, would it not the the case that I should be entitled to cancel the payments on the insurance going forward as well as recovering what I have paid to date.

Many thanks

R

petermb_2

GE Capital and GE money are one and the very same. The group also includes First National and quite a few other lenders and brokers such as Purple Loans.

k1mmie

Hi Peter. Quick question on PPI. Crap 1 have charged hubby around £4 a month for PPI since 2001. He can't remember applying for it (but doesn't mean he didn't). This month he checks the cards statement and he has had £50 for PPI. Do I just write to them with the standard letter from site and ask for it all back or for them to prove we asked for it?

Also, had 2 loans in the last 6.5 years with Citifinancial. (one was with Associates who sold out to Citi. I called them to ask for the statements on the 2 loans (for PPi purposes and charges), they said have nothing for you on 2 different addresses. Seems weird. Next step? write to them asking for both details?

( think I could prob keep you in business for the nex year. lol)

LISA68_2

LISA68 wrote: »

Hi there just wondered before i put in a p.p.i claim via ge money are they under the same umbrella as ge capital that have been fined for mis-selling thanks for any replies

I found the details for them on my equifax for loan of £13,000 i know i had p.p.i was informed had to have as my credit score was so poor how can i trace this now as cannot find original credit agreement and moved twice and looks like anything i had between 2002-2003 ive shredded unfortunately equifax does not show any reference numbers

Thanks