PPI Reclaiming discussion

magicmadam

I hope I am in right place, I cannot find where to start a completely new thread.
I am dealing with my daughters claim for PPI on a Barclayloan.
She was in dire straights (unbeknown to me) when she applied for this Loan in January 2005 and cannot remember what she agreed to!! A while later, she saw an adviser and asked for this PPI to be removed as she was unable to keep up the payments, but was refused.

I wrote to Barclays on her behalf 29th Sept 07 and received a holding response 29th Oct 07.
We have now received a full reply dated 2nd Nov 07. They are stating that she was fully aware of this insurance at the time etc. (Although I doubt she realised, she was desperate at the time). If they had done a credit check on her at the time, nobody would have given her a loan.

In this letter they say, I quote 'I am unable to locate a signed copy of the loan documentation. However the Financial Services Authority stipulate we can provide a copy of the agreement if we are unable to locate the signed originals should we be able to provide confirmation of the funds being used by you'
I also was not able to find her signature on any of the copies she kept.

My question is, should I go ahead and send the second template letter?
Barclays, in their letter, they seem to indicate this is over and done with.

Any help or advice will be greatly appreciated. Thanks in advance. MM

ds100

Drugos wrote: »

Hello all

I will be very grateful if someone could help, apologies if this has been asked before in the forum, I haven't had the time to read all the posts.
I took a loan with my bank (Lloyds TSB) of £12000 5 years ago to help my brother pay his credit card debts.
I was in rush to get the money and I must have agreed to a loan protection but quite frankly I don't remember it.
I repaid the loan early and forgot all about it.
Last month I received the following letter from Lloyds TSB:
Dear..
We have recently carried out a review of our records and notice that although you repaid the above loan early you have not yet received the refund of Loan Protection Insurance premium that is due to you.
Please accept our apologies. We have calculated the amount due to you as follows;
£1895.84 Refund of premium due when your loan was closed
£390.96 Interest from the date the loan closed, calculated at our current base rate +1%
£2286.80 Total amount you'll received.

As you can imagine I was the happiest bunny to get this, but something is puzzling me…
Lloyds is calculating the interest based on a 1% rate while their current rates are (or the rate at the time) are much, much higher..
Is there any way I can complain and get a new interest calculated on a higher rate? It seems to me is rather unfair that I must lend them money at such a low rate…
Any suggestions welcome.

Thank you

you should send a letter rejecting the 1% interest they are using to calculate the interest and ask then to use the 8% ( thats wot a court will reward you ) good luck !!!!!!1

ds100

magicmadam wrote: »

I hope I am in right place, I cannot find where to start a completely new thread.
I am dealing with my daughters claim for PPI on a Barclayloan.
She was in dire straights (unbeknown to me) when she applied for this Loan in January 2005 and cannot remember what she agreed to!! A while later, she saw an adviser and asked for this PPI to be removed as she was unable to keep up the payments, but was refused.

I wrote to Barclays on her behalf 29th Sept 07 and received a holding response 29th Oct 07.
We have now received a full reply dated 2nd Nov 07. They are stating that she was fully aware of this insurance at the time etc. (Although I doubt she realised, she was desperate at the time). If they had done a credit check on her at the time, nobody would have given her a loan.

In this letter they say, I quote 'I am unable to locate a signed copy of the loan documentation. However the Financial Services Authority stipulate we can provide a copy of the agreement if we are unable to locate the signed originals should we be able to provide confirmation of the funds being used by you'
I also was not able to find her signature on any of the copies she kept.

My question is, should I go ahead and send the second template letter?
Barclays, in their letter, they seem to indicate this is over and done with.

Any help or advice will be greatly appreciated. Thanks in advance. MM

go head send the second letter but be sure in witch grounds u r claiming the ppi was mis sold.

karmak

hi, i was reading this topic yesterday and told my dad about it, he had a lloyds tsb loan back in 2001 and he was sold a "ltsb gen ins" he was going through his statments last night and for 3 years he was paying £14.95 per month, untill he cancelled it in 2004, does he have a case to reclaim??
many thanks karmak.

TwinsMum_2

I have claimed back £2300 from HSBC for loan PPI, see success forum for details :j

benjamin99

Hello to everyone. I need a bit of an advice to see if I am eligible to claim.

I took out £15,000 Barclays loan in March 2004 with PPI over 5 years. I was paying about £385 per month. Paid without problems until December 2006. On application for loan I stated that i was self-employed as an interpreter. From December 2006 my work load decreased and that's when I started to experience difficulties in keeping up with my payments. Since I have come to an arrangement to pay £155 per month to Barclays Bank bank and have kept my payments up to date. Can I reclaim the PPI I have paid for the period of full payments? If I haven't cancelled the PPI, am I still paying PPI? I thank you for your assistance.

Georgystar

Claiming back PPI from HSBC

Has anyone else had trouble doing this? I sent the first template letter to HSBC regarding PPI reclaiming and received a letter saying they were looking into it and would be in contact within 4 weeks. In the meantime when I tried to do some internet banking I noticed my accounts were not appearing, when I contacted them I was told that my accounts had been closed down ( no explanation why) and my loan passed over to a debt recovery agency ( again with no explanation why). What an absolute nightmare, if I had known this would happen I'm not sure I would have sent the template letter in the first place!

tubbenden1

How long does it usually take when you take the FOS route? Im fighting against Egg for the return of nearly £1,000 as a result of a mis-sold PPI. However, have been fighting with them since May and now its in the hands of the FOS, which it has been since August. They keep fobbing me off with 2/3 letters a week saying that my case will soon be allocated to an adjudicator but the case doesnt seem to be going anywhere. Any advice appreciated.

m.colak

bank can't make changes to your account or close your account without first contacting you. This includes requiring to send you a letter by law. I advise that you immediate phone them up stating that you haven't received a letter or phone call of the event and will be seeking advice from a solicitor reference unlawful business practice. I would approach the CAB as well as the FOS to make them aware of the situation.

Matt

NB: Please make sure before you carry this out that you haven't had any previous letters from the bank relating to missed payments or possible court action already in motion.

TwinsMum_2

Georgystar wrote: »

Claiming back PPI from HSBC

Has anyone else had trouble doing this? I sent the first template letter to HSBC regarding PPI reclaiming and received a letter saying they were looking into it and would be in contact within 4 weeks. In the meantime when I tried to do some internet banking I noticed my accounts were not appearing, when I contacted them I was told that my accounts had been closed down ( no explanation why) and my loan passed over to a debt recovery agency ( again with no explanation why). What an absolute nightmare, if I had known this would happen I'm not sure I would have sent the template letter in the first place!

I have just claimed back PPI from HSBC, they are also my bank they made suggestions that they could close my account but they never did and they have now refunded me the PPiI payments from 2 loans, and stated in their letter that I was a valued customer of theirs and this would not affect my relationship with them at all. Had you fallen behind with your payments or anything like that, can't think why they would do that what have they done with the rest of your money that was in your account, I also though they had to give you notice if they were planning on doing this. My husband has had problems with HSBC recently were they are behaving very unreasonably and for no apparent reason, surely they have to give you a reason why they have closed your account. I have asked to have my money paid into a different account though incase they try to take some of it off my overdraft. Maybe go into your branch you mind find them more helpful there than on the phone. Best of luck anyway I really fel for you on this one, seek proffessional help would be best I think.