PPI Reclaiming discussion

Former_MSE_Wendy

A few questions about GE Money so I have contacted the FOS to check.

It does seem that GE have not always been covered by the FOS's jurisdiction. It took over complaints for smaller insurance companies (loans) in Jan 05 and store cards in Apr 07 so older complaints may not be straitforward.

However as GE are one of the companies to be fined by the FSA (see has your provider already been fined section of the article) write a letter asking for proof that the policy was sold in your best interests and take it from there.

PLEASE NTOE - MOST LENDERS ARE COVERED BY THE FOS BUT IF IN DOUBT CALL THE OMBUDSMAN TO CHECK AND IF IT CANNOT HELP IT WILL TELL YOU WHO TO CONTACT INSTEAD.

xpf

wendyhampo wrote: »

I have a loan with first plus with PPI but the loan was organised through Loans .co. uk who do I send a claim to Loans.col.uk or First Plus. anyone know?

I'd like to know this as well. Anyone?

mduap

I had two Barclays loans between 1994 -1999 and know that both of them had PPI on them. How do I go about claiming these back? I no longer have any record that I had the loans - my account with Barclays has been shut since 2002. Are Barclays oblighed to give me information about these loans or should I just give it up. Would be grateful for any suggestions!:j

lilgreenmomo

So, much to my (our) shame we had the great misfortune to buy a car from Carcraft a while ago, suffice to say there is a long & involved & very sorry tale of woe that I really won't get in to here but it did mean we paid about 6 months worth of PPI on the loan which they insisted was compulsory,

Now I read that we may be able to claim this back but... My OH seems to have a paperwork aversion. Any mention of a filing cabinet type affair to keep this kind of thing in & keeping anything for longer than 6 months seems to send him into fits of whys & wherefores & non of our friends do that *rolls eyes* I have asked them, they do. Suffice to say he binned said paperwork a long time ago. So just wondering if anyone has attempted to claim back miss sold PPI from Carcraft & its associated lenders & if you have had any joy getting hold of the paperwork to do it.

lilgreenmomo

EDIT: Should add that it was a single payment premium added to the loan.

stives_2

My complaint is being dealt with by the FO. I took out a loan for £500 on top of one I already had 6mths earlier for £3,000. I told the lady selling the loan that I did not want the PPI as the loan was only £500 and I had PPI on the higher loan (I know it was stupid to take it the first time)and I felt that I was covered enough with private medical cover and that if I was made redundant then I could easily find another job, but I did take the home cover which she said would be just £5 a month(they have the knack of making you feel guilty if you don't take out any insurance with them) when I signed the ageements I had been there for over an hour and had to go to work after so did not fully look at the agreement (another ploy, to keep you there for ages so you sign without fully looking at the agreements) I first complained to the co, over 16mths ago but they said that I had signed for it and there was nothing I could do. Which I took at the time as being correct. My original complaint was the amount that I was paying back. The first loan was £184 for 36mths then it went to £214 for 48mths which makes a total payment of over £10,000, again they said that the payments were right.
I will let you know how I get on with the FO. It has now been over 16wks since I first got in touch with FO so it shouldn't be too long now.
Fingers crossed

shoey79

I applied for a loan in Dec 2005 to buy a new car.

MoneyBack Bank came back to me saying they could offer me the loan of 5000 that i wanted but ONLY if i took the PPI with it, otherwise they would turn me down.

At the time I was only 18 (19th Bday was in feb 2006).

I also had two credit cards which were paid off in full so I had some credit history and i've never had an issue getting a Credit Card.

I had to say yes to the PPI.

Under these circumstances, could i claim the money im paying back?

The Loan still has 16 months to pay and im paying the PPI each month.

I never wanted the PPI and have never been in a situation where i cant pay off Credit cards or loans etc.

Advice please

funky1471

Hello,

I am thinking of cancelling my PPI on my personal loan. When I phoned up I was told since it has been more than 30 days (it has been 3 months) then what would happen is I would go through the process of applying again under the same basis as last time, however this time the insurance would not be added.

Does this mean that when I apply again I would be applying to loan the total amount which would be as per my previous post:

Total amount you pay for the total loan: 7,648

Or would my application this time be for the £5000 again but just without the insurance premium? Basically will I be applying for a loan of £7648 + interest or a loan of £5000 + interest.

I did ask on the phone and they said the settlement figure is £5335, would this be the amount I would apply for the second time? I am very confused. How could the settlement figure be £5335 if the amount left to pay is £7506 (£7506 is the amount left to pay if I continue paying off the loan as is)

a_manda

im sorry for bothering you on here but wasnt sure who eles to ask.its to do with ppi but your sight does not mention my problem which seems extreamly unfair to me (meaning my bank,not this fab sight of course!!).ok this may get complicated and i am sorry.if you can help that truely would be extreamly lovely of you,as no one eles seems interested or will help me.ok i took a loan out from the bank for £19,200.00.with an additonal £6190.59 for payment protection.the loan total of £25,390.59 had then accrued a further £9,759.92 in interest at 8.9%APR over an 8 year agreementi took the loan out in jan 2004 and redeemed it early(to be able to afford my house)on the 3rd of dec 2005.which was (they tell me) 21 months repayments totalling £7688.67.a portion of this,of £1,874.19 represents repments against the potion of the loan relating to the ppi.When the loan was closed on the 3 dec 2005 the outstanding balance of £27,461.25 including interest projected untill the end of the term,as i closed it early they refunded £5,661.84 of the interest that was due (they say) and the payment of £21,799.41 was debited from my accountnow during this loan i was off work sick,so thought well since i have this protection i may as well claim it seems silly not to,so made a claim of £329.53.now when i redeemed this loan i was told because i had made this claim i was not due back any money from the payment protection part of it,which as i have said was £6190.59 which they made me pay in full as i had signed the terms and condions and made this £329 claim.which to me is day light robbery,i fully expected to have to pay the money i had claimed and lets say, any admin fees but all that??! this does not seem at all fair. at the time i had asked time and time again for the reasons for this discusting charge,even although i had not recived this money and all im told is "well you signed the terms and condions"which i obviously did not fully understand.Do you think i have a case here,as like the bank charges,i signed a T&C then when i took my bank account out that must have stated they charge me,which as we all know and mainly thanks to you and your team are being fought,and this would seem the same.i have paid nearly 6k for a £330 claim.i feel like they have stolen from me,all because i didnt fully understand.they`ve taken me for a royal ride!please PLEASE help!!!thankyou so so much!Amanda

housty34

Like Martin said,
Although it has been researched thoroughly this will take time to establish a proper procedure for re-claiming. The only way we will obtain this is to start asking the questions " Why did you charge me this?" and " What justifiable reason do you have for charging that amount?" Let's start asking these questions. I, for sure, will be approaching two companies in the very near furure. Look out.