PPI Reclaiming discussion

Jackswan_2

bhoywonder wrote: »

I am in the process of trying to claim from Picture, the problem I am having is that I took a loan out for £40,000 and they have charged PPI of £11,000. I believe I was mis sold the policy because I am insured through my employer and have enhanced redundancy which would be enough to tide me over until I got a new job or worst case sold the house. The problem is that none of this was made clear at the time and the amount is ridiculous. All they keep saying is it is in the policy. I also read somewhere that you have to sign seperately for PPI but I dont know if this is correct.
What should I do?????

I would suggest that the first thing you need to do is to correspond to them in writing, hopefully they will reply in writing. When you feel that you have exhausted correspondence with them, download a complaint form from the
FOS website complete it and send off with copies of the correspondence
between yourself and Picture. The FOS like to see that you have at least attempted to get the matter resolved before bringing them into play. It can
be a longwinded affair although they do suggest that within six months a decision will have been made one way or the other.

mariab8817

Hi.........Received a reply from LTSB today offering me £650 gwg as they state they have already paid part refund back in Nov 2003 of £1534.

Have sent reply asking for documentation of this payment as my statements or loan show no evidence of this.

Lets see what other tricks they will come up with.:rolleyes:

Will keep you informed.

M

bhoywonder

It seems that they spent to long during the discussion talking about 50% of your money back after 5 years rather than saying this is only cover for 5 years and the interest is over the full length of the loan so in reality I am getting a sixth of what I paid inc interest, not 50%. definately mis-selling to me. I was never even asked how long I wanted cover for and how I would pay it. Legalised protection racket and something should be done about it, how

senior1

hi

i have just sent off letter to halifax in the hope to re claim my ppi - can any one let me know if they have had sucess with halifax

with many thanks

nichola x

logtree

hi we have been turned down by barclaycard they said we hade the thirty day cooling of time ,my husband tried to claim on the grounds that he had dissabilitys before he took out the ppi that he was not given the right advice we are going to write to them again .

mack18

does anyone have information on crooks welcome finance? should be named not welcome finance.:mad:

mack18

ladyknight wrote: »

I'm hoping someone may beable to give me some advice on where i would stand with these companies and circumstances, would i have a clain for ppi?

*yes car credit loan
I remember quite clearly back in 2004 when i purchased a car from these on finance and was told that i would not be accepted for the finance unless i have the payment protection insurance.I have looked on my documents and the sum on there is for 48 monthly payments to the payment protection insurance cash premium equalling £1123.23 and then further don on the document it states, Add intrest+ £447.41. My problem is that as everyone maybe aware this company ceased a few years back and i don't know how or who i would have to write to to claim.
Also i did have an accident in the car leading to it being written off and when i claimed on the insurance that money was paid directly to yes car credit as i was never inform of the gap insurance cover which i later found out would have coverd me in that event. obviously this is when my payments to them stopped and i started to recieve letters from debt collectors until finally, yes car credit mashed up and they sold my debt to another company, which i am now paying off through an IVA.
would this harbour my chances of making any claim?

*welcome finance
I think eventually i had altogether 3 loans with these, with the newest one cancelling off the old by paying it up in full. I have defulted on these payments due to going on maternity leave for a year, my son was born with a very rare genetic condition so i now am his fulltime carer and in reciept of benefits for that. Four months before my due date to return to work the company i worked for went into administration and i was made redundant. i just wanted to find out if this puts me in a position to claim the ppi from these loans. i know my post is like an essay please forgive me but there i so much i need to find out and would be VERY GRATEFUL FOR ANYONES HELP OR GUIDANCE.

yes car credit used finance company's such as welcome finance, to name one for credit arrangemants. there usual format is to present the loan with the insurances added on knowing you would accept, because most people that go to them are desperate. you are not told these insurances are optional they are allready added to the agreement when presented for you to sign as they were myself. it is a very humiliating experience. i'll stop ranting now check you'r finance agreement pretty sure it wont be yes car credit.

mack18

ladyknight wrote: »

I'm hoping someone may beable to give me some advice on where i would stand with these companies and circumstances, would i have a clain for ppi?

*yes car credit loan
I remember quite clearly back in 2004 when i purchased a car from these on finance and was told that i would not be accepted for the finance unless i have the payment protection insurance.I have looked on my documents and the sum on there is for 48 monthly payments to the payment protection insurance cash premium equalling £1123.23 and then further don on the document it states, Add intrest+ £447.41. My problem is that as everyone maybe aware this company ceased a few years back and i don't know how or who i would have to write to to claim.
Also i did have an accident in the car leading to it being written off and when i claimed on the insurance that money was paid directly to yes car credit as i was never inform of the gap insurance cover which i later found out would have coverd me in that event. obviously this is when my payments to them stopped and i started to recieve letters from debt collectors until finally, yes car credit mashed up and they sold my debt to another company, which i am now paying off through an IVA.
would this harbour my chances of making any claim?

*welcome finance
I think eventually i had altogether 3 loans with these, with the newest one cancelling off the old by paying it up in full. I have defulted on these payments due to going on maternity leave for a year, my son was born with a very rare genetic condition so i now am his fulltime carer and in reciept of benefits for that. Four months before my due date to return to work the company i worked for went into administration and i was made redundant. i just wanted to find out if this puts me in a position to claim the ppi from these loans. i know my post is like an essay please forgive me but there i so much i need to find out and would be VERY GRATEFUL FOR ANYONES HELP OR GUIDANCE.

yes car credit used finance company's such as welcome finance, to name one for credit arrangemants. there usual format is to present the loan with the insurances added on knowing you would accept, because most people that go to them are desperate. you are not told these insurances are optional they are allready added to the agreement when presented for you to sign as they were myself. it is a very humiliating experience. i'll stop ranting now check you'r finance agreement pretty sure it wont be yes car credit.

sussexsimba

i have had a barclay loan for nearly 3 years and even though i get full sick pay for 6 months and half pay for 6 months and have been in my job for 22 years so if was made redundent i could pay off the loan they implied that having protection on the loan would pretty much secure the loan being agreed, also be aware they have posters up stating 6.5% apr be hardly anyone will get this rate as they calculate your apr on your credit record , i have just realised im paying 10.9% on mine and when i told them i am canceling my ppi she told me the apr on my new loan (as they have to re quote for removing ppi ) could be higher than 10.9% as my circumstances might have changed ? this i have been advised is wrong they have to re quote at the same or better terms so beware of this, but good news is i will have a response within 2 weeks and looks like i should get my money back. im paying £58 a month ppi on a loan of 11 grand i will pay back 18 and a half grand 5 of which is ppi , thanks martin for the wake up call :j

cdd

CONGRATULATIONS AND THANK YOU FOR WRITING ABOUT YOUR CASE BECAUSE WE WERE FEELING A BIT SCARED OF 'TOUCHING' ABBEY BECAUSE THEY CAN BE REAL BULLIES WITH THEIR ILLEGAL CHARGES AND PPI's. WE HAVE OUR LETTER READY TO SEND TOMORROW & :A HOPE EVERYTHING GOES WELL FOR US TOO, BECAUSE THIS BANK HAVE DESTROYED OUR FINANCES. THIS WILL BE OUR 1ST CLAIM (PPI) AND THEN WE WILL GO FOR THE ILLEGAL CREDIT CARD AND CURRENT ACCOUNT CHARGES FOR MORE THAN 9 YEARS!

Lady_GG wrote: »

I found out that my IPP was mis-sold when I became ill with Angina and decided to claim. I'd paid over 2 years premiums on a 4 year loan. I rang the Insurance Company who told me, straight away, that I'd been mis-sold the policy by Abbey.

I approached Abbey, who weren't having any of it. I then got in contact with the Financial Ombudsman. It took months, but I was successful and received all the monthly payments, plus interest, plus an extra 1% above the Bank of England's interest rate. I received £1007. I was delighted.