PPI Reclaiming discussion

hm71_2

Not sure if this comes under the same umbrella but Kays have been charging me approx £1.98 for every £100 outstanding balance for something called Account cover plus. I wrote and asked them for a copy of the policy relating to this product and I would not be able to claim on it at all! I have been paying it for 2 years and so I thought I might be able to reclaim this as when I was told about it on the phone, I was not asked anything relating to my personal circumstances I was just told it would cover my payments if I couldn't (i think this comes under mis-selling) I was thinking about rewording one of the template letters and seeing what happens- worst they can do is say no! would value anyones opinion on this.

casement

Reidnet wrote: »

If you know the name of the Lenders Involved you can submit a Subject Access Request under the Data Protection Act to obtain all the Information that you will require.

Good Luck
Ian

I have the same problem, except that I was unable to pay back most of the loans/credit cards which I took out roughly between 6 and 14 years ago, although I think that most, if not all, of them have been written off by now.

How exactly does one submit a Subject Access Request under the Data Protection Act? I am not familiar with this.

hammerette_2

I have had a capital one and ge money card, which is now in an IVA can I still request a refund as the PPI on these were both mis sold, I do not care if the refund goes in the IVA. I just would like to know if I can still claim up to when they went to the IVA. Also if they are now in the IVA then should the insurance of only been calulated to when passed to IVA as obviously I can not make a claim on them now anyway

funky1471

I went to the bank today and they told me I would need to take out a new loan of £5335 and pay off the existing one, but just take the new one without the PPI.

Is this allowed still or should they let me cancel the PPI seperately? Has anybody managed to get Halifax to cancel the PPI but keep the loan (NB: This is 3 months after taking out the loan).


I am not trying to claim anything back I just don't want to pay PPI in the future. Should they let me do this or am I stuck and have to get a new loan if I want rid of the PPI? getting rid with a new loan would be cheaper than keeping the PPI, but i'd rather not apply for another even though I do have a good credit rating.

Dan

hammerette_2

I original took out a loan with citifinancial approx 8 years ago, and every couple of years we would take out a new loan which would pay off the existing loan and start a new one each time withe ppi. These loans were joint loans with my husband. 3 years ago I was made redundant and tried to claim on the insurance I was then advised that only the first name stated on the loan was covered which this was not told to us at any point of any of the loan applications. This loan was budgeted from my wages which citi was full aware of and at no point would we have taken the insurance out if I was not covered. I then cancelled the insurance and they refunded the rest of the term of PPI on the loan as the PPI was fully added at beginning of loan. Can I claim the ppi back on the 3 previous loans I had with them and the rest of the PPI from the one I cancelled

toffeeapple

Hi ALL

We took out a home improvement loan from First National for 25,000. The PPI policy wasn't even discussed as far as we can remember but stupidly when we received our loan pack with all the stars throughout of where to sign we went through and signed where appropriate and returned the pack.

It was only when we went to repay the loan in full that we realised we were paying an additional ppi. We now have no loan but an outstanding balance of over two grand on a ppi policy, which is covering nothing!!

I am going to write to GE money who have apparently taken over First National and query the policy.

Not sure what to expect but its worth a go...

:rolleyes:

boots_ranger

funky1471 wrote: »

I went to the bank today and they told me I would need to take out a new loan of £5335 and pay off the existing one, but just take the new one without the PPI.

Is this allowed still or should they let me cancel the PPI seperately? Has anybody managed to get Halifax to cancel the PPI but keep the loan (NB: This is 3 months after taking out the loan).


I am not trying to claim anything back I just don't want to pay PPI in the future. Should they let me do this or am I stuck and have to get a new loan if I want rid of the PPI? getting rid with a new loan would be cheaper than keeping the PPI, but i'd rather not apply for another even though I do have a good credit rating.

Dan

This is the same position I was in last year and just couldn't get Smile to take the PPI off without getting a new loan, which in turn affects credit rating etc.

From what I understand from Martin's article, this is unfair, I'm sending a letter out tommorow, guess you should do the same.

toffeeapple

We took out a 25 grand loan with First National which included a ppi which we weren't really made aware of. We received our loan pack and just stupidly signed where they had put stars!

We repaid the loan a year later but we are still stuck with the ppi that we have to pay 30 pounds a month for but have no loan to cover. NOT HAPPY. Not only that but they have put the ppi policy secured against our house!!

I am going to write to GE Money tonight and ask for an explanation of why? If no good I will do to the ombudsmen because we took it out in 2001.

GE are awful to talk to on the phone. I tried to question the policy but was given one word answers!!

Reallyconfused_3

Reallyconfused wrote: »

Another query I have relates to a paragraph that GE Money placed in the most recent letter....

"...as GE Money does not have any contact with the customers at the time they complete the relevant documentation to open an account which is administered by ourselves, any comments relating to verbal statements made at the point of sale or claims of misrepresentation would have to be taken up directly with the supplier."

This is the first I have heard of this in the various correspondence between myself and GE Money, The Financial Ombudsman and the Finance and Leasing Association.

So who would be the Defendant in a claim for a refund of PPI Insurance????

Today I phoned the Finance and Leasing Association to explain that GE Money had refused any refund and asking whether there were any other options.

I was referred to the Financial Services Authority (0845 606 1234) who advised that it would be appropriate to go to the Company that had originally sold the policy.

I have now contacted the Window Installation Company and registered the complaint and should hear some news "within 8 hours" which I assume will mean tomorrow.........Watch this space.

funky1471

The longer I leave the loan will the settlement figure lower each month because I have made extra payments? Any idea how much lower (if atall) it will go each month????

If so how much will it lower by. Halifax do not make any specific charge to pay off a loan early but I am not sure how they calculate the settlement figures.

The thing is with the loan how it is I could afford to pay it off in a year probably depending on if the settlement figure changes and by how much each month. I.E I would continue making payments but will also have money by the end of the year to pay what is left of it....