PPI Reclaiming discussion

happy_days_5-2

MWH1 wrote: »

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!

Thanks, have looked on the FSA website but can't seem to find anything that says I can insist on the cash rather than it being offset against the loan.
I, like you, feel that there is something, somewhere that says you can but just seem to be going round in circles at the moment!! Very frustrating!! Guess I shall keep looking and will post if I find anything!

purplereign

volfram wrote: »

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.

Hi there

I rightly claimed that the PPI was mis-sold. When I took out the loan it was clearly stated that I would not get the loan without PPI. Isn't this illegal?

Also my advice is get your calculator out and do some sums!!

I worked out that if I had claimed the total possible amount through PPI (i.e. when I was made redundant and if I had claimed the full 12 months) the total amount paid by the PPI would be less than the total PPI premium.

In other words the "insurance premiums" exceeded the total possible reimbursement. Who'd insure their house conrtents for £50K and willingly pay more than that in insurance premiums???!!

Nat West sent a very strangely worded letter in which they said that I "had a fourteen day cooling off period" - my understanding of the cooling off period is that it doesn't apply if you sign your documents in a branch - which I did.

They also said that basically it was my fault because I'd signed the agreement - er, I didn't have a choice - or I was led to believe.

They said that they were not admitting liability. Why then refund the entire amount including the interest?!

Summary:
14 November 2007 - first letter to Nat West
19 November 2007 - received acknowlegement
14 December 2007 - second letter form Nat West "we're still looking into it..."
14 January 2008 - "oops it's been eight weeks" letter form Nat West including FOS leaflet
I gave them the benefit of the doubt - then got hacked off with the waiting and sent of the forms to FOS (about) 6/7 March 2008 - which they acknowleged within three days.
18 March 2008 Nat West settled (but I received the letter on 22 March 2008 second class!!)
So three months in all - and thanks to my mother in law seeing an article by Martin Lewis in one of the Sunday papers!!

KEEP BOMBARDING THE BANKS - IT'S YOUR MONEY!!

purplereign

purplereign wrote: »

So three months in all - and thanks to my mother in law seeing an article by Martin Lewis in one of the Sunday papers!!

KEEP BOMBARDING THE BANKS - IT'S YOUR MONEY!!

ACTUALLY FOUR!! shame I didn't get the calculator out for that one!!

Stillsmiling

RichP wrote: »

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.

I know the feeling. I started in November but with various delays it was only submitted to the FO a month or so ago. First Plus offered the "enhanced rebate" but I told them no, it wasn't good enough and sent it to the FO. It's now been passed to the appropriate people but I suspect will still take a while. I can be patient As long as I win in the end!! :rotfl:

daynurse

Stillsmiling wrote: »

I know the feeling. I started in November but with various delays it was only submitted to the FO a month or so ago. First Plus offered the "enhanced rebate" but I told them no, it wasn't good enough and sent it to the FO. It's now been passed to the appropriate people but I suspect will still take a while. I can be patient As long as I win in the end!! :rotfl:

twins mum, still smiling rich dont give up thats what they are hoping people will do go with the flow they will have to pay up in the end whether it be an enhanced rebate or the full amount i was very lucky ill keep my fingers crossed it doesnt take much longer

daynurse

RichP wrote: »

Firstplus

Anyone wishing to submit a SAR to Firstplus for all their documents and tapes the address to make it to is

COMPLIANCE DEPARTMENT
FIRSTPLUS Financial Group
Cardiff
CF23 8GY

Enclose a cheque for £10 payable to Firstplus financial Group PLC

Hope that helps anyone wanting this info, Richard.

i never had to pay for my disc in feb why are they charging? it seems some are being charged and others not not fair hey but thats firstplus

Estereggeater

Hi all
I received a letter from BOS in January saying they agree that I was not eligible for the policy and that they will caluculate and issue the £'s.:j
Two months later no £'s, FOS are too busy, so now I'm going the Court way but need help with the wording in the N1 Particulars of Claim part or any other thoughts, I need the money quickly.

Thanks

RichP_2

daynurse wrote: »

i never had to pay for my disc in feb why are they charging? it seems some are being charged and others not not fair hey but thats firstplus

I dont think the people at Firstplus know how to be fair, who really could sell a rubbish policy to someone knowing that they could get it thousands of pounds cheaper elsewhere and without the early settlement hit as well, I know I could not do it but I guess people all have different morals.

And why are the governing bodies not questioning the ethics behind putting people further into debt than needed? we continually hear about a credit crunch and hard times, do they really care?

Another rant over, I will feel better for another few hours

Clairel29

Hi

I have had my settlement figures in from FP. Can anyone help me understand this please.

Take out on 4.11.04 for 7 years

Loan was for 10,000
PPI 2449
Total loan amount 12,449

We settled the loan on 11.02.08 for 8137.64

This is what their figures say
Total amount payable to settle the loan -
7965.31 plus 1681.95 interest on early settlement

Less rebate on early settlement - 1659.22 includes £44.40 insurance policy rebate and 1615.22 rebate of the remaining interest

Admin fee - 150.00 = £8137.64

Does this make sense to anyone?
Is it correct?

Thanks
Claire

Clairel29

Clairel29 wrote: »

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

Hi

Just wondered if any of you knowledgeable people have had a chance to look at this. I do not want it to go cold.

Thanks
Claire