PPI Reclaiming discussion

essexjim

Hi All,

Can someone help a newbie, I posted this else where and probabily in the wrong place. Last nov i toped up an exsisting loan from marbles/ hfc the amount left was £3,533.98 top up £3066.02 + optional ppi of £1,308.11 total amounts payable after 84 (a) for own use £6502.44 (b) for repaying old £7,494.48 (c) for optional ppi £2.773.68 total £16,770.60 got into troble and only paid 3 payments of £199.65. got payplan to deal with that and other debts lender has put it in the hand of Solicitors who add £2,500 plus and now I owe £18254.03.

My question is can i cliam this back as i have not had it and so reduce the debt and can i cliam back what was payed on the first part of exsisting loan.

Also by writing to them and sending letters which I will do after you advise can i cliam this excessive handling charge of £2,500 plus as they have sent me 3 letters and gone to cc.

please say yes as i would love to take these sharks on.

regards jim

elsieo

katie1 wrote: »

i wrote to black horse to say i wanted a refund cos i believe i was mis sold ppi,
i had a reply saying no way and to go to fos... i wrote to fos and just this morning got a reply saying they cant look into complaint cos at the time of taking the loan out black horse was not members of th fos ........

what am i to do now looks like they win???

when did you take out the loan? Do you know when they became members? cant help but am in same process so would like to know. Good luck.

QOTD

TwinsMum wrote: »

QOTD I am writing my letter to FO today, Have to give it a go don't I.

TwinsMum - I agree, let me know how you get on

vodkafreak

Had a secured loan with Firstplus back in 2004 & had a single premium policy of £9,796 added to the loan making a total of £49,796! I too was tempted by the promise of a 'cashback' after 5 years not realising the policy would then end & i would still be paying interest on it.
A year later i was able to pay back this loan thanks to my brother (who is a financial advisor) getting me a better deal on a remortgage. He was appalled when he saw what my ppi was & absolutely disgusted when i told him my settlement figure for the loan was £50,229.86!! So even after paying £373.45 per month for 12 months(=£4,481.40) i still owed more than i originally borrowed!!! Yes i expected to pay a bit of extra interest for early repayment but not to that extent. I sent the first template letter on 29 oct & received this polite reply on 3 Nov;
''I am sorry you have had to contact us about your concerns regarding your ppi. Thankyou for taking the time & trouble to do so. I am looking into your concerns & will let you have a response or update as quickly as i can but no later than 27 Nov 2007. In the meantime if you need to speak to me please call. I have enclosed a leaflet explaining how Firstplus works to resolve complaints. I hope you find this helpful. Thankyou for bringing this to my attention.''
Has anyone else had this kind of response? Are they trying to lull me into a false sense of security with their politeness?!! I will let you know when i have any more correspondence with them.

sc0tsman

sc0tsman wrote: »

I received another letter this morning [1st class, previous one 2nd class] stating that they are investigating my letter dated 26th although we will start our investigation from the date we received your letter 29th.

Looks like they are trying to scam me big time

WE WILL SEE

any advice guys??

Has anyone had any joy with these cowboys GE MONEY/BANK

mouthscradle

Really quick question, my mom and dad have various credit cards and a loan with Barclays. They've had them for years and years now, at least 20 odd years. They have no idea if they have a PPI or not, and I very much doubt they have their credit card agreements still. How can they find out whether any of their products have a PPI? A Subject Access Request letter? If so, can they only go back 6 years as with bank charge reclaiming, and can they request copies of their initial agreement paperwork?

Thanks!

katie1

elsieo wrote: »

when did you take out the loan? Do you know when they became members? cant help but am in same process so would like to know. Good luck.

hi, i took loan out may 2004, they became members of the fos 14th jan 2007.

On the 14 jan 2005 as a result of recent legislation the fos became responsible for looking into complaints against former members of the GISC about events that occurred while the firm was a member of GISC (General Insurance Standards Council)

kazmeister

jabdc5 wrote: »

Wrote to Lloyds TSB after reading your advice, intially I got a reply saying they felt the policy hadn't been mis-sold. I wrote again and threatened to go to the ombusdman. Got a letter back yesterday from Lloyds saying they had "reviewed" my case and were refunding me a whopping £4108 plus interest!,
thanks Martin!!!!
J

Hi

Have they said how they are calculating the interest as I have just worked out that the amount I have already paid in premiums is more than the original insurance amount. Obviously I want to get enough back in interest to cover the cost of the premiums. Also if the interest is being paid as compound interest from the start will they be paying me it back at the same rate they charged me ie 10.9%.

Anyone had theirs paid back that can answer the questions.

Thanks
K

Lindyhop

HI

i cleared my loan and PPI in 2004. i am still going after LTSB for their mis selling of the unnecessary PPI to accompany my loan. i would urge you to continue to make the claim, and reccommend an excellent forum who are helping with advice and support with my claim. i would have given up long ago if it wasnt for this forum. they also have excellent template letters. registration is free, run along the same lines as this site, but with more much more. not sure if im allowed to advertise them here so pm me for the details. this is not an advert for buisness (unlike 1 forum member on this site that i have come across that is doing this). my only connection to this forum is their totally free help which i hope will help me get my money back, and if you want hopeufully yours.

whatever you do, if you believe that you have been mis sold pursue your claim. dont let them get away with it. so it may take a few letters, phone calls and/or emails. there are things you can do to get your money back. ML is great, but he did give the impression that it would be easy. some cases are not but there is free advice and support out there for those more out of the ordinary cases, and im NOT talking about the no win no fee chaps.

hopefully there is a moderator on this site somewhere that can come back and tell me that it will be ok to give details of the forum site i am talking about it would be so helpful for those that havent found it yet.

in the meantime PM me.

Lindyhop

Yes K1mmie. you can.

dont forget your £1.00 payment and send it recorded delivery. not sure if there is a template letter for CCA request on this site. your might want to go further and apply for a SARs as well. this will cost you a tenner, but should cover absolutlely every dealing (copies of every thing)

also dont forget the non compliance rule. 12 days + 1month i think. (for CCA). then stuff gets really interesting as once request made if they dont comply within the time. SARs is longer straight 42 days.

dont let them put you off. pursue and get your money back.

good luck