PPI Reclaiming discussion

nicolajane1

please help what do i do?
sent a ppi re-claiming letter on 27th feb as i believe my ppi was mis-sold due to not being asked about any previous medical conditions, which i have since found out would not be covered if a claim arraised. have today recieved a letter basically saying i had applied for five loans between nov 2001 and aug 2005. and on each occasion the signed agreement form indicated i accepted the option of ppi.
they are satisfied that a refund of full premium is not justified. but say i can cancel the policy for a refund of £1865.15 to be deducted from my loan.
the figures are as follows
original loan dec 05
loan £14000
with interest at 6.69% total £17228.44
ppi £4455.05
with interest at 6.69% total £5479.71

total £22.708.15

they have said they would refund £1865.15 to be deducted from laon balance
but would have to terminate existing loan and transfer the remaining outstanding balance to new loan agreement.

increase loan 48 months £251.49
de-crease loan 42 months £282.81

i have already paid 28 payments on a loan took out over 72 months so only have 44 left and the amount on the agreement says 71 months at £239.28
1 at £239.35.
can anyone advise me on what to do those figures do not add up to me.
Should i go on to sent the second template letter.

your help much appreciated.

petermb_2

If you have had five loans with ppi on , then you will be entitled to five mounts of compensation. If your loans date back to 2001 I would certainly get the agreements looked at as there is likely to be other issues other than ppi that you could claim on.

petermb_2

mark863 wrote: »

Can anyone tell me what to do if the company you purchased ppi from has
since been bought out?
I have ppi running on car finance from jan 04 and although the company still use original name,they are registered elsewhere with different vat number etc.
Should I send letter to them anyway or should I try finance co, ie black horse?

ppi cost £1111.68+ £277.92 credit charge.

calculated at £1500 if I can claim back.

Any advice appreciated.

Black Horse every time.

Locke

I've just had a letter back from Capital One saying that I wasn't one of the people mis sold ppi and that I asked for ppi to be added when I applied over the Internet.

It goes on to say that they wrote to me to tell me it was optional and I ticked and signed the letter back to say I wanted it.

Looks like I won't be getting anything back here.

They do say that I had a 30 cooling off period where I could cancel the ppi free of charge, they also say that I can cancel the ppi policy at any time by ringing the number on the letter.

Any idea how much they will charge me to cancel the ppi?

nicolajane1

petermb wrote: »

If you have had five loans with ppi on , then you will be entitled to five mounts of compensation. If your loans date back to 2001 I would certainly get the agreements looked at as there is likely to be other issues other than ppi that you could claim on.

hi, thanks for that, can you tell me what you mean by other issues, i didnt even know i had took out the five loans, i am going to ring and ask them for the details.

I am mainly sent to template letter as i felt i was mis-sold the ppi as they didnt even mention pre-existing medical conditions when i took out the loan, which was a top up over the phone, though you start a new aggreement.
i recently phoned the insurance company direct to ask if the conditions my husband has which he had been recieving treatment prior the diagnosis were covered and all they said was they couldnt say till a claim was made.
we did sign all the parts of the agreement which included for ppi but didnt read any small print until recently, does that matter, will i send the second template letter,

gerturdeanna

m.colak wrote: »

Ok split the claim into two as they are sepearte products second of all you have 6 years not 6 months. Thirdly if the date of the product being settled is within 6 years then they are oblidged by the limitations act to hold on to all information pertaining to the raised contract for a minimum of 6 years. If they can't provide this then this a breach of said act. Then state that under the Mis-representation Act 1967 you believe that the products were mis sold (This puts the onus on them to prove they weren't) Funny if they can't provide documentation on the products then they can't dis prove the Mis representation Act so you have them coming and going.

Soory if you've replied already..but do you have a template letter to send to Egg after they've said no once?
Thanks

asag

petermb wrote: »

asag, is this loan still current? are you still paying it?

Hi

Below is what I originally posted on this site and basically what I am still waiting on the Bank to reply to. The loan was settled in full, early and we didn't seem to receive any rebate on PPI or interest.


Has anyone had any success in claiming back PPI from The Royal Bank of Scotland?

My husband had a personal loan for £25,000 which was taken out in September 2005. We managed to pay this loan off and the settlement figure was a staggering £22,900. Meaning only£2,100 had actually been deducted from the loan and the rest must have been interest and PPI. We made 20 payments of just under £500 per month. Totalling £10,000.

When we asked at the bank the tellers gave us various information but offered no refund. We have since downloaded the letter from this site asking for a copy of the original loan agreement.

asag

petermb wrote: »

asag, is this loan still current? are you still paying it?

Hi

Below is what I originally posted on this site and basically what I am still waiting on the Bank to reply to. The loan was settled in full, early and we didn't seem to receive any rebate on PPI or interest.


Has anyone had any success in claiming back PPI from The Royal Bank of Scotland?

My husband had a personal loan for £25,000 which was taken out in September 2005. We managed to pay this loan off and the settlement figure was a staggering £22,900. Meaning only£2,100 had actually been deducted from the loan and the rest must have been interest and PPI. We made 20 payments of just under £500 per month. Totalling £10,000.

When we asked at the bank the tellers gave us various information but offered no refund. We have since downloaded the letter from this site asking for a copy of the original loan agreement.

nicmc18

Hi, I'm new! I recently wrote to the finance company about being mis-sold and they told me i had to go to the car company that sold the agreement on their behalf. I tried to do this - only the company has now been bought out by a similar company. I wrote to them and they have basically replied that it wasn't their company then and as the company doesn't exist anymore, i cannot claim.
Is this right? Surely when you buy a company out you take their accounts and responsibilites on?
Please help!!

Locke

nicmc18 wrote: »

Hi, I'm new! I recently wrote to the finance company about being mis-sold and they told me i had to go to the car company that sold the agreement on their behalf. I tried to do this - only the company has now been bought out by a similar company. I wrote to them and they have basically replied that it wasn't their company then and as the company doesn't exist anymore, i cannot claim.
Is this right? Surely when you buy a company out you take their accounts and responsibilites on?
Please help!!

Is the PPI still running?