PPI Reclaiming discussion

thunders79

Hi,

Not proud to announce this but we have had lots of loans over the years. Apply for a new one, to pay the old one off etc etc.

Anyway, in the last few years we did have two large loans and we were def mis sold on one of them. However, I don't have any paperwork anymore for either of them.
One was for Ocean finance and the other was for Firstplus.

Can someone please advise me which template letter I send if i don't know my account number
Thanks

bathgatebuyer

Wow - there seems to be some real successes here! Has anyone had any success with the Halifax? It seems that LTSB and HSBC have been 2 of the better organisations in holding their hands up and offering 'goodwill' refunds.

spiny73

I'm trying to get Northern Rock to cancel my PPI so I can either reduce the monthly loan repayments or reduce the length of the loan at the same cost.

I wrote to them asking to cancel the PPI as I saw on MSE that I could cancel it seperately, but they've written back saying that to cancel the PPI agreement they have to open a whole new loan application. Is this right?

I've got just under £12000 to pay and still have 46 months left paying £256.46 a month. If I use Northern Rocks Loan calculator, to start a new loan my repayments over that period would be £296.37 per month (without PPI) costing £40 more than the original monthly payments!

Cheeky blighters! :mad:

Cheybies

Hi,

Last year we got a car on finance through Advantage Finance, but we actually got the car from Welcome Finance.

Unfortunately the car had to go back because of circumstances beyond our control. So Advantage took us to court etc. I said to the judge on the day of the case that we had been mis-sold PPI. His response was it was nothing to do with the case that day, and it was a seperate issue.

So I sent off the template to Advantage Finance asking for them to repay us what we had paid on the premiums of the PPI because it was mis-sold to us. We just received a letter from the Director of the company, saying because Welcome Finance mis-sold the policy to us, we should get in touch with them about it.

But I am disagreeing with this, because we had paid Advantage the money for the PPI not Welcome.

Please can someone confirm who it is we have to get in contact with about the mis-sold PPI.

Moneyhoney2

I am totally new to this site, but need some help - I am trying to claim back insurance cover on a loan but the loan provider is quoting 'rule of 78'. Firstly what is it? And can they do it, I wrote to them in April asking them to cancel the policy but they advised they would be unable to reduce my payments. Please help.

freds_dad

Hi< I hope I am posting this question in the correct place!!

I have just written to my credit card provider, asking for my PPI payments back on the basis that I was self-employed at the time (and still am) and therefore was mis-sold the policy.
They have just written back and are asking me to phone them to discuss the situation! Is this normal, are they trying to trap me in some way?
Any advise or comments would be appreciated.

Many thanks

gibbyni

hi just wondering what i should do, i posted a letter on the 24th sept to egg to reclaim ppi, it was sent recorder delivery but its still not showing and delivered on the royalmail website, should i sent it again and give them the extra time from the new letter or send one asking did they receive it????

ste-ste

i took out a 5 year loan in 2004 for £3000 with lloyds tsb i did have an original loan but upped the amount by a thousand was previously £2000 i was naive at the time didnt know anything about interest rates or anything
, i wasnt explained the interest rates or told that i was having ppi added on i was told my monthly repayment costs was £96.36 thats all so im stuck with a loan 17.9 % apr i dont know what type of loan it is from the statement it seems i pay back so much of the loan each month and so much interest as my statement doesnt go down by my full payment each month i was wondering if i had any chance of claiming back the ppi i have paid already.

Any help would be appreciated.

Thanx

greengrass

Hi Guys,

I posted my letter off to hsbc a couple of weeks ago explaining that they would not give me my loan of £5000 in 1999 if I didnt take out the ppi. I have today had a letter saying they are looking into the matter so fingers crossed I should be having a positive reply soon.

chippy75

Hi all

Further to my earlier post on this, I telephone Natwest and cancelled my PPI which constitued £70 of my monthly loan repayment. I was told that there would be no problem and although this month's figure wouldn't change, it would kick in in November.

I received a letter from Natwest at the weekend telling me that because I had been paying the PPI for 2 and a half years (i.e. half of my loan term),my repayments would only reduce by £20! This was because during the 1st two years of repayments, the PPI part was high so I will have paid off more of it.

I only realised I was being charged interest on the PPI when Martin was on Radio 2 the other week. I mentioned to Natwest on the telephone that the FSA wasn't very happy with these types of PPI but nothing more was said to me.

Can anyone advise whetehr I am entitled to apply for a refund following my cancellation of the PPI, especially as it seems that I am still paying for it as my repayments have hardly reduced?

Many thanks,

Chippy75.