PPI Reclaiming discussion

colin13

di3004 wrote: »

Has anyone had any luck with claiming ppi from Endeavour or Liverpool Victoria ?
Would be happy to hear of your experiences with these as I am about to sort out a claim, but an idea of these would be a great help, thanks folks.;)

Di.

i had a loan with clydesdale bank in scotland at time of loan insurance was included they did not as any questions,,my wife was not happy with this as I suffer from MS she contactedd bank bank said it was ok wife contacted liverpool victoria who said we wernt covered wife back on to bank and we got all monies paid plus intrest back that I supoose was from bank and not liverpool victoria,,but u can win if u try:)

Rigady

Hi All

I have recently discovered this site and I would really appreciate some help regarding my PPI claim with First Direct.

I took out a loan with them in February 2005 and I sent the first reclaiming letter to them in March this year going down the lines of I was misold this policy as I felt the salesperson was very pushy when selling the product I felt I could not say no.

Having recently read through the policy the unemployment cover is worthless as I am married I would not be able to claim state benefits in order to make a sucessful claim and this cover is only provided for 12 months anyway.

I received a standard response from them defending their position and that I was given a cooling off period to cancel etc. They also said that I can cancel my existing loan and take out a new one without the PPI and they wouldn't charge any interest penalties and I would get the loan at the same interest rate as before.

I have just phoned them up to get the ppi removed, and they said that they could offer it to me with an APR of 12.9% as opposed to the 7.9% I was charged when I took out the loan which would obviously leave me worse off. I told the salesperson that they had to honour the same rate as the original loan and quoted the paragraph in their letter to me stating that they would.

They have no record of this letter and now want me to send them a copy of it so they can look into the matter.

I'm not sure what to do next, do I send them a copy of their letter to me regarding closing the loan and taking out a new one for the same terms (as obviously I would like the PPI removed and take the remaing balance over a shorter term) or send them second template letter.

Any advice would be much appreciated.

Thanks

Kaia_2

m.colak wrote: »

Hi this is a regular dispute as far as i can see claim off the broker first if they give you written confirmation that it isn't their responsibility (Note i saw written) then go after the loan company. That is how it is worked. As for how much you should reclaim you should find out if it was a single premium policy on the PPI. If it was then you paid the PPI first before the loan in which case you need to either carry out the calculations by taking each payment and putting it into martins caluclator until the sum of the PPI+interest has been covered or by taking roughly the total of the PPI+interest dividing it by 2 and working out at what point this amount would have been paid off and then entering the full amount of the PPI+interest at this date. Of course if you send it too the FOS they will do the calculations and add any rebate/compensation you would be due. Plus they would make the company restructure the loan to take into account of the mistake (being nice there) that the company has made.

Hi mcolak, thanks for that, I was getting SO confused when i read that, I did initally write to the lender, who told me it was the broker I needed to correspond with, the broker has continued correspondance with me, albeit that they are unable to uphold the complaint....they havent said "we are not responsible....you must go to the lender".
Now that I know the amount and that I am claiming under £5000 i think I will go down the MCOL route, trouble is i feel a bit silly, I last wrote to them 2 months ago threatening the MCOL route and havent started the claim yet, are there timescales....they will think I have just "gone away", but I am determined not to ! I will get my money back !!!:T

kaisersoze_2

Hi All,

I just have a curiosity question that i cannot find the answer for (apologies if it has already been answered)

I took out a loan with Bank of Scotland in 2004 with PPI over 5 years:-

Loan Advance £7000
HIIL Creditcare Gold £3207.26
Amount of credit £10207.26
Total Charge for Credit £2405.94

Total Amount payable£12613.20

APR 8.3%

After finding this site and reading through these boards i find that PPI totalling nearly HALF my actual loan amount to be extraordinarily high, i have therfore decided (very late i know) to cancel it.

My question, if i cancel this am i entitled to the full amount of PPI or just what is left?

Thanx in advance.

mac_saver

kaisersoze wrote: »

Hi All,

I just have a curiosity question that i cannot find the answer for (apologies if it has already been answered)

I took out a loan with Bank of Scotland in 2004 with PPI over 5 years:-

Loan Advance £7000
HIIL Creditcare Gold £3207.26
Amount of credit £10207.26
Total Charge for Credit £2405.94

Total Amount payable£12613.20

APR 8.3%



After finding this site and reading through these boards i find that PPI totalling nearly HALF my actual loan amount to be extraordinarily high, i have therfore decided (very late i know) to cancel it.

My question, if i cancel this am i entitled to the full amount of PPI or just what is left?

Thanx in advance.

Hi there are various threads on here that will answer your query but basically if you believe the policy to be mis-sold, ie you were pushed into it ,you were not told the full details etc then you should be able to claim it all back. Check through the previous theads and your paperwork and good luck.

cuddly1

Laini wrote: »

Hi

just to say have a look at your paperwork.of the settlement figure of the first loan did it show that you had to pay the ppi as well in this amount.

we thought we had been charged 2 lots of ppi when we did a top up with Nemo but because we were still borrowing off the same company they just cancelled it so we didnt have to pay ppi in the settlement in the top up/newloan but did put a new figure of ppi on the new loan but we did pay the PPI when we settled the loan and went to another company.

I would ask them for a breakdown of the first settlement to see what you have paid off to get the top up/new loan and breakdown of the settlement figure of the second loan.

cos I am not sure if you have settled it already or it is still your existing loan and you are just wanting to cancel the ppi and wanting a refund

hope that helps.

Laini xx:rotfl:

Thank you Laini for replying to me sweetheart!!

Do I send off one of the template letters from HERE to find that out our can I just ask them?? What made me think they added the PPI to the paying off of the first loan is becuase the PPI was over £ 9,000 with that one then with the top up loan our PPI is way up at nearly £13,000 and with PICTURE FINANCES, they arrange the PPI as a lump sum that they add to the loan amount THEN they work out the interest and monthly payments from that figure.......Do you know what I mean??

If you or anyone else can let me know it would be most appreciated.

Many thx

cuddles xx

ANY_CHANCE

cuddly1 wrote: »

Thank you Laini for replying to me sweetheart!!

Do I send off one of the template letters from HERE to find that out our can I just ask them?? What made me think they added the PPI to the paying off of the first loan is becuase the PPI was over £ 9,000 with that one then with the top up loan our PPI is way up at nearly £13,000 and with PICTURE FINANCES, they arrange the PPI as a lump sum that they add to the loan amount THEN they work out the interest and monthly payments from that figure.......Do you know what I mean??

If you or anyone else can let me know it would be most appreciated.

Many thx

cuddles xx

Hi there,
You could ring the company initially but many would advise to also send your request by registered post.
I rang FP and to be fair they did send out the breakdown of the requested settlement figure. Some send e-mail requests as well

delboyuk2005uk

Hi there anyone know the address to write for DFS?

Laini

cuddly1 wrote: »

Thank you Laini for replying to me sweetheart!!

Do I send off one of the template letters from HERE to find that out our can I just ask them?? What made me think they added the PPI to the paying off of the first loan is becuase the PPI was over £ 9,000 with that one then with the top up loan our PPI is way up at nearly £13,000 and with PICTURE FINANCES, they arrange the PPI as a lump sum that they add to the loan amount THEN they work out the interest and monthly payments from that figure.......Do you know what I mean??

If you or anyone else can let me know it would be most appreciated.

Many thx

cuddles xx

Hi Cuddles
I would do what ANYCHANCE:wave: suggests get breakdown of all figures
1st and second loan with them.
.I would ring them but make sure you ask for the person you have spoken to s name and record what date and time you when have requested the info from them.
a signed for letter is better but optional so you know what you have asked for and is easier to trace if they dont send it and to resend.

Laini xx:rotfl:

cuddly1

ANY_CHANCE wrote: »

Hi there,
You could ring the company initially but many would advise to also send your request by registered post.
I rang FP and to be fair they did send out the breakdown of the requested settlement figure. Some send e-mail requests as well

Thx sweetheart, think I will defo send registered letter!!

Good luck with yours!!

Cuddles xx