PPI Reclaiming discussion

volfram

purplereign wrote: »

Update
On Saturday I received 100% of my PPI back from Nat West - totalling £4683

My loan ends on 1st May this year and they refunded the whole amount of PPI into my bank account on Thursday - I took the loan out on Easter Saturday five years ago so this was good "closure".

I wrote two letters to the bank, and then sent off the forms to the Financial Ombudsman (about 10 days ago) - they acknowledged my forms with the standard letter so I don't think they had anything to do with it.

This really does work so keep plugging with thte claims.

Thanks Martin!! :money:

well done you :j how did you get the ppi back was it mis-sold i am waiting for reply, as like you sent of 1st letter in nov. and keep getting we are looking into it in from edinburgh office customer relations.

IVT

scotsgirl wrote: »

Hoping someone can help. I've just been speaking to my sis in law, and she took out a loan 4 years ago with LTSB to refinance a credit card she had with them. They also added ppi which as far as I can tell was added in a single premium at the start and cost £3k plus interest,

She knew the ppi was being added, but, the reason she took it out was because she was told that it would mean her children didn't get stuck paying it if anything happened to her! She isn't a homeowner, and would have no estate whatsover, so this just made me a bit mad!

Does anyone know if this is a valid reason for reclaiming and if so what I should be saying in the letter - i will need to do this for her as she's not very financially savvy and quite scared of banks.

thanks in advance

Hi,

I am chasing TSB at the moment, charged my partner 5.7k LPI for 9.5k loan, had other insurance in place but did not ask or check with the Ltsb group, stated that the PPI total was not fully explained, did not realise it was so expensive as had no experience in these matters, trusted that the deal offered was in her interest, but just loaded her with more debt, and other cover in place was not discussed and should have been consolidated, got 5 complaints in for account with fee, was free years ago but they changed it without consent, bank charges, TSB credit card charges & PPI. And a life policy that was not cancelled, basically they kept selling a single parent more and more policies. I intend to go the full hog. Got two friends in banking, one in complaints , and bank manager at Barclays.
Oh, the banks get charged £400 in you go to the banking omnbudsman.

ANY_CHANCE

I have witten to first plus to complain about mis-selling PPI and unfair rebate.
FP wrote back to say that the broker sold us the policy so the mis-selling complaint is with norton finance

However i have just read the following by FSA

3.4 It is also the case that some of the small- and medium-sized intermediaries we visited operating in the sub-prime mortgage/secured lending and unsecured lending sectors did not have any role in selecting the type of PPI contract they sold.

Instead, the lender they placed business with selected the PPI contract that
the intermediary then offered alongside the loan on an optional basis. We came across several cases where the lender had selected a single premium policy when the intermediary considered regular premium policies would have been more appropriate for its customer base.

However, the intermediary claimed

that it did not have any alternative but to sell the PPI policy the lender selected.

So does this mean i can use this against FP for reclaiming the whole policy back??

Perhaps worth a try
?
THE FSA LATER STATE THAT THE FIRMS SELLING THE PPI ARE RESPONSIBLE SO I WILL STICK TO NORTON FINANCE FOR MIS-SELLING CLAIM

MWH1

happy_days wrote: »

HELP! Lloyds offered to refund the PPI on 2 loans I have outstandng with them although they have not admitted they were mis-sold. They wanted to pay against the loans but I have asked for funds to be paid into my account. Just received letter today saying no - their policy is to refund against the outstanding loans and they will not pay lump sum into my bank account.
Does anyone know where I stand with this ?

Hi. Im sure I remember reading a post recently which someone quoted was from the FSA website. Have a look at their site and see if you can find anything relevant.

Do stick to your guns and insist on your desired form of payment!

Clairel29

petermb wrote: »

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.

Hi
Sorry for the delay in responding.
I have had another letter from FP in response to my 2nd letter and they have basically said the same as the first. That it is nothing to do with them and you have to take it out with the broker, however this time they are saying it is loans.co.uk (which is wasnt), so I get the feeling that FP do not know what they are doing.

Please can someone help me with the next step.

Thanks
Claire

Clairel29

m.colak wrote: »

Check out the FLA website as they may have been regulated by them instead. If this is the case send them an amended letter and state your error and re itterate that you will be taking it to them instead (But thank them for pointing you in the right direction.) Did you notice that they were immediately defensive about the issue.

Hi Thanks
Sorry for the delay in responding.

Sorry to sound dumb but what is FLA?

Yes they are being very defensive, is this normal?

Thanks
Claire

Clairel29

Clairel29 wrote: »

Hi Thanks
Sorry for the delay in responding.

Sorry to sound dumb but what is FLA?

Yes they are being very defensive, is this normal?

Thanks
Claire

I have found the FLA website and FP is regulated by them but I cannot see that Central Trust is.

So does this mean that I pursue with FP for the PPI reclaim.

Thanks
Claire

TwinsMum_2

Received another letter from the FO saying still no news, just keeping you updated it is now 6 months since original complaint, and I now give up I can't be bothered, First Plus will obviously keep my money to add to their huge profits.

spooky1971

Hi All this is my first post so here we go please be patient.
I am just starting the process of recovering 'Substantial' PPI from First Plus (over £7000 with interest on one loan and £1500 on an expired loan).
I was wondering when & if I am successful in getting this 'Substantial' amount back, would I be able to get my monthly payment reduced to account for the reduced loan value.
Also I take it the interest rate should be reduced to account for the reduced risk on the loan?
And wil I be able to recieve payment to myslef and not against the outstanding loan?

RichP_2

TwinsMum wrote: »

Received another letter from the FO saying still no news, just keeping you updated it is now 6 months since original complaint, and I now give up I can't be bothered, First Plus will obviously keep my money to add to their huge profits.

I can really sympathise with you and your feelings but please dont let Firstplus get away with this, I am currently dealing with them and their ignorance and so far have spoken to the FO but not handed my case over to them, did Firstplus offer you an enhanced rebate? I think after 6 months I would start making a pest of myself with Firstplus and the FO in the hope that they will do something to get rid of me.