PPI Reclaiming discussion

Lindyhop

having successfully reclaimed bank charges, i thought i would try with the PPI that i was sold in January 2000, through Lloyds TSB.

Lloyds however deny my right to reclaim because the sale of the PPI was over 6 years ago. Lloyds still have the paperwork and were able to provide with the the policy number which i hadnt kept myself, so it's not that they no longer have the paper. Lloyds dont even deny having misold, and are currently relying on the time issue.

i do want to pursue this, but will have to make my own template as the site does not currently cover this eventuality.

i will keep you posted as to how i progress.

techspec

I am handling a similar claim for a friend.

But i am hoping that they will pay up to the 6 years mark.

Martin does say it is harder to claim if the policy is an old one, but its worth a try.

The one i am handling is worth many thousands.

RL6161

I have a question for the forum. RBS have offered me 50% of the payments I have made to PPI (i.e. £3000). However, RBS inform me that, if I want to cancel PPI on the loan going forward, this will result in an automatic rebate which will go towards reducing the amount of the loan. RBS say they will reduce the £3000 offer by this amount. My question is - can RBS do this. Surely I am entitled to receive the money in my bank account rather than to reduce the amount of the loan. Any guidance would be much appreciated.

petermb_2

This is presumeably their initial offer. I would certainly write back and request the full premium as redress as a payment to you. Do you have the tems and conditions for the payment protection? If you do can you contact me and let me know. I would like to know if there is another way to hit them for you which will ensure full redress or as near as possible.

Jackswan_2

Over the years I have had a number of credit cards, mainly through moving balances and surfing I believe they call it. I am self-employed and tick the box accordingly, I have been advised that if this is the case the PPI should not be applied to a card in any event. Some credit card companies will argue that you are covered if you have paid sufficient NIC. Nowhere is this to be found in any paperwork from them. I have also been advised that Customer
Care should contact you to confirm details on your postal application for a
Credit Card to ensure that you are adequately protected, at no time was I ever contacted when the Self Employed box was ticked. The majority of us
who are self-employed know only too well that PPI is utterly useless to us.

I am also finding that copies of my applications some 8/9 years old are being
reproduced by the Card Companies, and although I have not ticked the PPI
box they have added it to my monthly bills. Obviously the bank/credit card
default charges claims have highlighted also these PPI charges, we even have CCC's suggesting that we knew this charge was being made each month, maybe so, but, it still doesn't mean that they had the right to make
this monthly charge.

I made my claims before Martin highlighted PPI reclaims and therefore without his template letters, I am now reviewing these as the time period has elapsed from the initial requests for re-payments. What I have noticed is that the CCC's were quite ok to cancel the monthly premiums, didn't bat an eyelid or query the cancellation in the first instance, but, reclaim and they are backs to the wall and disputing claims.

brinksy

Hi

I'm after some advice regarding a finance agreement that i am trying to settle and pay off and i'm being faced with whopping interest charges.

We bought a sofa last august 2006 from Land of Leather, the promotion was 12mths interest free and then 3 yrs @ 30% apr, wasnt really an issue, we were paying the whole thing off after 12mths. we declined the payment protection. we signed the agreement with open & direct retails services. total to be paid was £2047.00

12mths later..

I received a call a few weeks back from a company called "creation finance ltd" asking me to confirm some security questions, as i'd never heard of this company i refused to give them any details, and ended the call.

I knew that it was coming up to the 12mths so started to hunt for the paperwork which i found last night. On the cover letter, it mentions a special offer date of 29/08/07 and that no further reminder of the special offer date will be sent. it gave options on how to pay and also online. i tried to access this last night to pay the balance and got sent to a website creation finance and no way to pay online.

I called them first thing this morning for a settlement figure, and the figure they gave me was a whopping £3550.11 which is £1532.11 more than the initial amount. when i asked for a breakdown, i was told that they had applied a whole years interest of £874.01 and also payment protection of £658.10 which we had declined.

When we initially signed up for this, there was no mention to having penalties to pay if we defaulted on this special offer date, we werent even aware that it was imperative that it be paid by this date to avoid further charges.

i really need some help on where I stand.

here are my questions..

1) do i make a payment of the amount i was expecting to pay?
2) Can i also go for mis-selling on the whole policy.. i.e. having to pay the "interest free interest" on the first year which we certainly were not told.

Thanks for any help

petermb_2

They sound a wonderful bunch.
I am sure there is stuff you can do.

I would certainly go for the ppi. If you declined ppi it is unlikely they provided you with terms and conditions.

Will do what we can.

adenewton

Hi, sorry if this is answered elsewhere. I searched the topic but only searched for tsb to see if someone was in the same situation and I couldn't find anything relevant as most of these are going by loans and not credit cards.

Anyway....

I have a credit card with Lloyds TSB which I have had for a while now. They have something called Payment Protection Cover, which I assume is the same as PPI?

I'm 90% certain that this was never on my credit card originally, and randomly started appearing one day, possibly about 2-3 years ago.

I was probably sent a letter about it but like most letters from the bank I just ignore them.

Does this mean I can claim this back as being mis sold the service?

Just for bit of background, if i spend a grand on my cc then they are adding over £6 to my bill. I pay my cc off every month anyway, so I never get charged any interest. However this so called cover is like i'm being penalised for using my credit card to pay for things! No doubt this is the reason they just added it onto my account in the first place as they wasn't making any money from me in interest.

Also as I have no idea how much I can claim back, can I such as people have done with their bank accounts ask for credit card statements over say the past 6 years? I read somewhere on this thread I think that banks won't do this with credit cards?

If I am worthy of a claim, does anyone have any template letters to ask for credit card statements?

Also, should I cancel the PPI first and then claim? Or should I keep it on the account whilst I claim?

Any help appreciated.

junieliz

Hi all, can anyone advise me on the following, my husband and I have had a mortgage with Abbey for 18 years. In 2004 we wanted to move house so as we had an endowment for the above length of time we took it with us and got a repayment loan from Abbey of £9105 to allow us to buy our new property. We did take out payment care, cost £20.38 and critical illness cost £30.77 a month. I can honestly say we were not told it was optional or that we could shop around for it. My husband and I have both had problems with our backs but were not told that this might not be covered. It looks like we probably have two policies that we are not going to be able to claim on. When we went for the loan we told the adviser that we did not want my wages taking into account as my job was funded, at no point was any wage slips etc relating to me shown, we wanted it on my husband's wage alone. I was made redundant in 2005 and did not realise until I looked at the paymentcare policy this week that It was split 75% for my husband and 25% for me. The critical illness policy is a decreasing one so can I cancel it and payment care, as the premiums I would save in the next two and a half years would pay for itself? Have I got a claim? should I send a SAR to look at my paperwork. When you go for a mortgage interview you are bombarded with so much info in about 90 mins what has probably taken them months to learn no wonder we don't understand what we are doing. Thanks for any advice.

regularsaver1

adenewton wrote: »

Just for bit of background, if i spend a grand on my cc then they are adding over £6 to my bill. I pay my cc off every month anyway, so I never get charged any interest. However this so called cover is like i'm being penalised for using my credit card to pay for things! No doubt this is the reason they just added it onto my account in the first place as they wasn't making any money from me in interest.

sounds like it is 60p per £100 you spend,. regardless of whether you repay in full each month or not.