PPI Reclaiming discussion

Clairel29

Locke wrote: »

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?

Hi

I had almost exactly the same letter, although I did have at the top that I was one of the people who were not given the correct documentation at the beginning.

I have been advised to carry on with the claim.

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 what my next step was. Can I now go back to FP and say that they were regulated back in 04 and they were using companies that were not regulated (Central Trust) so cough up.

I also need to go back about the unfair rebate but want to do it in 1 letter.

Thanks
Claire

alleybabes

Hi can anyone help? I sent a template letter to hfc bank/beneficial finance saying that i was missold my ppi due to the fact the salesperson was pushy and i felt i wouldnt get the loan without it,they have answered me after dragging it out for months! they have said they hadnt missold it and to go to the fos,i am going to do this but on reading the letter it admitts to adding on the ppi in the beginning,so i borrowed 3100 and they added 1200 to it so i borrowed 4,325 and paid annual percentage rate of 26%! i was desperate at the time and felt intimidated,do i have more of a chance as this way of paying ppi is now frowned upon? any one had any luck with hfc? any help gratefully received!!!:mad:

peepoo1

peepoo1 wrote: »

Hello all, any advive would be welcome!

Had a loan with Citifinancial back in 2005, queried the ppi with them and they sent a letter with the usual response. However, I only recieved this letter by email, as the original letter that included copies of all the account paperwork never got to me. Have been chasing them for ages requesting the copies of the account details, but every time they seem to delay sending it to me( this has been going on since november!!). Reading between the lines, I get the feeling that they have lost my paperwork and they are stalling. Any advice welcome!!

Right, the game is afoot! Have been advised by Citifinancial to complain via the FLA, as at the time of the loan, they were not covered by the Ombudsman. Anyone had any dealings with them? And still no sign of any paperwork!!

Amber-Leaf

Hi

Can anyone give me some advice please...

My husband took a loan out with LTSB in Feb 2002 for £4300 plus a "one off" insurance premium of £1070.05 plus interest.

I have followed Martins template on reclaiming missold PPI and the points raised were that my husband felt the salesperson was pushy in selling the PPI and also that the salesperson implied that taking out PPI was essential for my husband to get the loan.

LTSB replied today saying they have relevant signed paperwork by my husband to say he has agreed to the optional loan cover and that it was up to him to cancel this within 30 days of taking out the loan, although they advised him to take it out to get the loan in the first place!!

They are more or less saying that they feel he was not misadvised about the optional loan cover as the correct procedure was followed by LSTB and they have signed documents to say my husband agreed!

Shall i now send the second template letter or not bother??
Any help appreciated

Thanks

The_deacon

peepoo1 wrote: »

Right, the game is afoot! Have been advised by Citifinancial to complain via the FLA, as at the time of the loan, they were not covered by the Ombudsman. Anyone had any dealings with them? And still no sign of any paperwork!!

I am dealing with Citi financial although the loan was taken through their former brand The associates. It's three months since they received my first letter and i have had no correspondance from them whatsoever.

I am now in the process of writing to them again and am filling in the MCOL form as i am fed up of them not having the courtesy to reply.

I do have a question though for anyone who may know? I want to print off the claim form and send it to them explaining it will be issued if i do not receive a satisfactory response. When i print off the POC though it is just a box and looks nothing like the finished form, Do you get the full court form to be able to print off when you have entered your payment details or only after actually submitting the claim??

happy_days_5-2

Amber-Leaf wrote: »

Hi

Can anyone give me some advice please...

My husband took a loan out with LTSB in Feb 2002 for £4300 plus a "one off" insurance premium of £1070.05 plus interest.

I have followed Martins template on reclaiming missold PPI and the points raised were that my husband felt the salesperson was pushy in selling the PPI and also that the salesperson implied that taking out PPI was essential for my husband to get the loan.

LTSB replied today saying they have relevant signed paperwork by my husband to say he has agreed to the optional loan cover and that it was up to him to cancel this within 30 days of taking out the loan, although they advised him to take it out to get the loan in the first place!!

They are more or less saying that they feel he was not misadvised about the optional loan cover as the correct procedure was followed by LSTB and they have signed documents to say my husband agreed!

Shall i now send the second template letter or not bother??
Any help appreciated

Thanks

You aren't disputing that the PPI wasn't signed for you are disputing that you felt pressured into taking the PPI in order to get the loan. Keep going.
Lloyds have just refunded mine as I too felt the salesperson was too pushy.

Good Luck

cuddly1

Loan......Picture finances

Hi, have large loan with above company. Got in touch with them to see if we could cancel PPI that we have with them and go elsewhere for cheaper one that we found on here. They offered us small rebate ( just over £1000) that would be taken off our loan.

Thing is, our loan is ......ahem......£63,000.....actual loan is £50,000, extra £12,000 is PPI, SHOCKING I know, but they are saying that if we cancel , because as they say, they have already paid for the PPI and sent to an insurer so, if we cancel PPI, it only brings our repayment loan down too just over £59,000........totally confused!!!!!

Any advice plzzzzzz, that would be great and if anyone has had any dealings with Picture Finances if they could let me know how the got on with them.

hugs

cuddles xx

norbert

Triggles wrote: »

We also want to cancel the PPI on our current Tesco loan. I understand we need to do it in writing, and send it registered mail so we know it's been received. But do we just request a reimbursement of the amount that remains in the loan? The current loan has £2476 for PPI, with an additional £465.80 for interest on "insurance loan." Since 11 payments have been made, and the payments are £49.03 each for "insurance loan repayments", does that mean we subtract 11 payments of £49.03 from the total amount and request that amount back??

I managed to cancel my PPI on my current Tesco loan with a call to their customer services phone line 0845 601 3019. They confirmed this is writing a week later and advised my amended monthly repayment amount. This was only £10.54 less than I was paying before even though the amount stated on my agreement for insurance loan repayments was £32.83. They said my PPI rebate was calculated using the Rule of 78 which basically means you pay more of the insurance at the beginning than at the end. If your loan was taken out after May 2005 then Rule of 78 shouldn't apply.

I'm not sure how you calculate what rebate you should receive but I would make sure you ask for a full breakdown of the rebate figures including how much PPI and interest you have paid. If you then feel the rebate is unfair you should complain. I've just sent them the 1st template letter as my loan was a single premium policy and I believe the rebate I received was unfair.

Good luck!

Amber-Leaf

Thanks for the reply. I will send the second template letter to LSTB but is there anything further you recommend i add to the letter.

Help appreciated