PPI Reclaiming discussion

twinklebelle_2

Hi i've just received what seems to be a standard capital one fob off letter. They state that as we were sold the PPi before 2006 we were not affected by mis selling and we were given a 30 day cooling off period in which to cancel the insurance as we didn't know that it was optional at the time as it was just added without us asking the only thing we didn't ignore from capital one was the monthly statement so I can't remember ever having seen the letter they say they sent and it probably just got shredded with the other junk mail they seem to send every couple of days. Can anyone tell me if I still have grounds to continue with this claim or should I just give this one up as I am about to start trying to claim unfair charges from them aswell

Mama_2

Hi,

A little help please. Do i write to the car dealership, who actually sold the policy or to the company that provided the loan?


Thanks,
Mama

daiseyo

Hi, I got an Ulsterbank Mastercard (Nat West) in Nov 1997 for use in a business partnership with my sister and dad. Along with it came 'credit card repayment protector'. Is this PPI? I still have the card and use it occasionally even though the business is no longer going. I had to close it in Nov 2002 because of ill health and am now retired. I still get charged 'payment protection' even though I pay the balance off in full every month. Am I eligable to reclaim these payments as it would appear that the benefit is paid out only if I'm off work for a period of time.

hjshow

I hope someone may be able to assist me with some advice / guidance with a secured loan that I have with (yes I know Iam a fool) First Plus.

The detail is-(both PPI's we were not told it only covered me and we could not get it cheaper elswhere and it would not cover any of my self employed income and it only lasts 5 years)

Took out secured loan Dec 04 that had a PPI single premium for just under 7k this was cleared with another fresh loan just over a year later with a new loan from them with a single 12.5k PPI!!!!.

Then due to severe circumstances another year later we have our current loan with NO PPI!! but are paying for over 20k's worth of PPI as they would not transfer or refund any PPI that we have effectively paid in full over 2 loans and now have ended up 20k worse off!!!!with our current loan

I have sent a letter to them and have had a reply saying that they are looking into my concerns on the larger PPI and will respond by a cetain date the smaller PPI in the letter was a policy dealt with Freedom finance on behalf of an outfit called Bespoke Finance in Gibralta!!

They have said they have they have forwarded my complaint on to them but I am not going to hold my breath.

My question is if any one in the know is do you think I will get any of my 20k plus interest back?

will they reduce my current loan and payments to reflect the refund?

Should I get a cheque payment if successful?

I am not afraid of taking this all the way to court.

Thanks to Martin for looking after the consumers - he should be Prime minister.

techspec

lupogti wrote: »

Just got my offer through of £1429.00 for 51 months of payment protection!!

Only sent my letter on 23rd september 2007!!!

Wheres the catch?????

You've got to give it to me

I found HSBC quite easy with credit card charges too. Maybe they realise they make enough money, not to allow this to become a big distraction.

Well done!!

k1mmie

No, I have not actually written to Welcome finance as yet as we are still paying for this loan, and cant afford for them to be funny. I have had two loans previously with Citifinancial and these are both repaid, although when I called their offices they have no record of us. Think they are getting wise to people trying to reclaim now. So just sent recorded delivery letter to try to get info. Thought I would deal with these first as they are repaid. My question is though, one loan was paid of July 2001, (they took over Associates) and the other 2003, so what if they come back and say they have nothing on you? How can I prove we had these loans with no paperwork or records. I don't suppose for one minute they are going to go out of their way to try and find this info. Any advice????

Diana1

i do remember reading a reply on this forum from someone that the companies have to keep records for upto 5 or six years.don't let them fob you off with excuses that they cant find your file though cos i think a few companies are trying this one in the hope that you give up.

BaileyB

Ok guys i found the loan agreement it was in an old box of documents.

(a) Amount of loan - £5000
(b) Insurance Loan - £898

(c) Amount of loan (a)+(b) - £5898
(d) Amount of interest - £1575.40

Total amount to be repaid (c)+(d) - £7472.40

Monthly repayments £124.54 (£105.57 loan + £18.97 insurance)

APR - 10.2%

Over 5 years/60 months. But i did end it early by 2 years which i paid it off in full, i'm wating for someone to get back to me as cannot find the final settlement figure that i paid. I might if i did out bank statements.

---

Now looking at the above the total amount i can claim is £898 or have they added the interest on top of £5000 plus insurance so i took a loan out for £7472? Sorry not great with % and figures.

If so they did not explain this to me. I thought the 10.2% would be on the £5k and then insurance added on as a standard fee.

Lindyhop

Hi, i have also been with next directory for a number of years. please dont tell me that they are including some type of payment protection for outstanding balances. not once have they informed me or asked if i am agreeable to it. i wont have kept the original paperwork from 10 year ago to check. how did you find out? is this information on the back of the monthly statement? on the invoice is only the detail of a service charge, but no breakdown as to what the service charge is for. if i phone them up are there legally obligated to tell me if ppi has been included?

thanks for bringing this to my attention

tjrocks4eva

I have tried to claim of the CO OP bank due to being unemployed at the time and recieved a letter today that states:

"I can confirm at the time of taking out the personal loan although you were unemployed, you would have been eligible for the cover when you resumed work."

And also:

"It is the responsibility of the customer to ensure you read and fully understand all the details before entering into a binding agreement."

Now what? Is that it or will I have a case for the ombudsman?

Thanks
Tj