PPI Reclaiming discussion

Clairel29

Hi

Had my response from Capital One.

It says that I was sold PPI and the terms and conditions were not sent out to me.

However when they realised this (after the fine by FSA) then they submitted these to everyone.

They are saying the Capital One are not allowed to advice anyone to take out PPI and that the decision to do this was purely mine.

As it was on my monthly statement, it means that I was aware that I was being charged it and because I had not attempted to cancel it.

Therefore they will not be refunding any payments.

Again is this correct?

Thanks
Claire

Laini

Estereggeater wrote: »

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

The email I got from FOS this week said that they are hopeful of dealing with our complaint between 6-9month but if you are in financial difficulties they can see if you are able to go on there fast track.

This is what it stated
[FONT=Tahoma, Arial]We do, however, make exceptions in cases of severe financial hardship
or ill health. Should this be the case, please write to us with details
and we will see if it is eligible for our fast tracking process. Once
you complaint has been allocated to an adjudicator, they will be in
touch with you directly, but in the meantime, we will keep you regularly
updated as to the current status of your complaint.

Regards,[/FONT]
hope this helps

Lainixxx:rolleyes:

tammy73

Hi all
I'm pretty sure i can reclaim my ppi charges from F.D. as at the time i took out the loan i was only working part-time, however my husband became redundant during the duration of the loan but we couldn't claim because the loan and ppi was in my name only.
However my bank charges claim against F.D. is on hold and i have come to an agreement with F.D. paying back my overdraft at a rate of £5/month, as we don't bank with them anymore.
My concern is if i reclaim the ppi they will just credit my F.D. account, which will pay off my overdraft with them, but as i'm not paying interest or charges on the overdraft, it's not my highest priority, particularly as i am paying off other more pressing debts too, ie gas, council tax.
Any advise would be greatfully received.

RichP_2

Clairel29 wrote: »

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

Hi Claire, FP have give you a 2% rebate on your PPI which is in line with the terms and conditions set out in their small print, if you send off a couple letters claiming an unfair rebate you should be able to get that increased to 78% pro rata, thats about £382 by my calculations, if you can prove they mis sold the policy then you can reclaim the full £2449.

Clairel29

RichP wrote: »

Hi Claire, FP have give you a 2% rebate on your PPI which is in line with the terms and conditions set out in their small print, if you send off a couple letters claiming an unfair rebate you should be able to get that increased to 78% pro rata, thats about £382 by my calculations, if you can prove they mis sold the policy then you can reclaim the full £2449.

Hi

Thanks. Is the 78% that they should be paying out is that against any regulations.

The problem I am having as per post above is that FP are saying the PPI is sold through a broker so not their problem.

The broker is saying that this was unregulated in 04 so tough.

I have looked on the FLA website and FP were regulated by them at this time.

So do I still press FP for the PPI as well as the unfair rebate.

Thanks

Claire

Shaung159

Hi new to forum so please bear with me!

I have written to three credit cards that I opened 1999-2003: MBNA, Lloyds TSB and Morgan Stanley (now Goldfish). i went through a very nasty divorce a few years ago and used the cards very heavily and in consequence paid considerable interest and PPI. At the time I wasnt even aware i was paying PPI, although in hindsight it is on the statements! Having kept the statements the total amount spent on PPI over the cards is about £2000.

Having read Martin's site I wrote to all three companies claiming general misselling, as I wasn't even aware (until I read the site) that I was even paying PPI. I also had very generous employer benefits at the time and wouldnt have needed PPI.

All three took months to reply but have all now replied denying any misselling and enclosing copies of the original agreements. In all three cases there is a box asking for PPI that they claim I ticked. I can't deny or confirm whether I did or didn't tick this box.

My question is given these copies of the original agreements is it worth proceeding any further with these claims or have I fallen at the first hurdle.

many thanks

RosieW

Hi I'm new today and please be patient as I haven't read all the threads to see if my question has been covered. We have successfully recieved a repayment from the NAtwest following the 2nd letter (first letter got a general rebuff). However we have had no letter from the bank just money put into the account. The amount is just under the PPI amount which we paid and has not included all the interest which we have also paid. (the interest was calculated on the full loan plus the £3000ppi) Has anyone had a similar experience and how to we proceed in getting all the interest which we have paid on the ppi amount?

RichP_2

Clairel29 wrote: »

Hi

Thanks. Is the 78% that they should be paying out is that against any regulations.

The problem I am having as per post above is that FP are saying the PPI is sold through a broker so not their problem.

The broker is saying that this was unregulated in 04 so tough.

I have looked on the FLA website and FP were regulated by them at this time.

So do I still press FP for the PPI as well as the unfair rebate.

Thanks

Claire

I have spoken to the FSA about this and they told me that there are no official figures on rebates for PPI but they put pressure of people like Firstplus to be fair and I believe it is Firstplus that came up with the figure of 78% pro rata, although they only seem to give this if you ask, if not then its whatever they set out in their small print, which is

25% after 12 months
14% after 24 months
6% afer 36 months
2% after 48 months

There have been a number of people ask about PPI sold through a broker on here and with a number of different answer, my personal case was direct with Firstplus so this is not something I have looked into but I would urge you to do some homework and try to claim if possible. I know there are a lot of pages but try searching this thread to start with to hopefully give you some ideas where to go, good luck and I hope we all get the money we deserve and worked hard for returned.

lynz412

HI there,

I originally complained to First Plus and Egg re PPI back in October, then after getting all the NO letters i send all my paperwork off to the FOS in february, I've been told that they take 6 - 9 months to deal with complaints, is this true?

Regards
Lynz412

Laini

Laini wrote: »

The email I got from FOS this week said that they are hopeful of dealing with our complaint between 6-9month but if you are in financial difficulties they can see if you are able to go on there fast track.

This is what it stated
[FONT=Tahoma, Arial]We do, however, make exceptions in cases of severe financial hardship
or ill health. Should this be the case, please write to us with details
and we will see if it is eligible for our fast tracking process. Once
you complaint has been allocated to an adjudicator, they will be in
touch with you directly, but in the meantime, we will keep you regularly
updated as to the current status of your complaint.

Regards,[/FONT]
hope this helps

Lainixxx:rolleyes:

Just phoned the FOS
they have said if you send in your bank statements and any creditcard/loans showing you are really struggling then the managers will consider putting you on the fast track but no promises.
I am going to do this as we are in diar straits and need to pay arrears and outstanding debt caused by Nemo and First Plus who we are asking them to look into.

hope this helps
I will post any more news as I as I receive it

Laini xxx;)