PPI Reclaiming successes and failures

Jonny1972

Hi all,

I wrote to my bank to ask for a copy of my credit agreement under section 77 of the Consumer Credit Act 1974, to make a claim for my loan PPI.

A long awaited reply read "We regret to advise you that the loan agreement form has been misfiled and, despite searching our records, we have been unable to locate it. Our record of the setting up of the loan has insufficient detail to enable us to recreate the agreement with the required degree of certainty that is required."

I stopped paying my monthly installments because i believe the PPI owed to me is more than my existing debt.

I am no longer a customer with the associated bank and im unsure what to do next.

Any advise would be appreciated.
Thanks
Jonny

di3004

cazzieblueeyes wrote: »

just had £5k refund from HSBC loan taken out in late 1970's. Took 6 months to process but got paid it in the end-interest and original payments etc.!!

Fantastic!:T and from the 70's as well that is so fab, Congratulations! :beer:

di3004

Jonny1972 wrote: »

Hi all,

I wrote to my bank to ask for a copy of my credit agreement under section 77 of the Consumer Credit Act 1974, to make a claim for my loan PPI.

A long awaited reply read "We regret to advise you that the loan agreement form has been misfiled and, despite searching our records, we have been unable to locate it. Our record of the setting up of the loan has insufficient detail to enable us to recreate the agreement with the required degree of certainty that is required."

I stopped paying my monthly installments because i believe the PPI owed to me is more than my existing debt.

I am no longer a customer with the associated bank and im unsure what to do next.

Any advise would be appreciated.
Thanks
Jonny

Hi Jonny

If you still have the account number that is fine, you can still make a reclaim, not all of us have had much paperwork but know we were sold and mis sold ppi and have still been successful - when it comes to you making a reclaim they will soon find the info they need to investigate, so do still go for the reclaiming, it does not matter if you no longer bank with them either.;)

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

gdecruz

Egg Credit Card - Success :T

standard reclaim :money: form used

Refund of CRP payments +
Refund of interest on premiums @ card rate +
8% interest on all of that

Total £4,000!

Response by egg including cheque provision - 6 weeks

plumfin

Hi, I need to complain to Barclaycard, but I can't find an email address. Can anyone help? thanks

IANC

offcumden wrote: »

I think thats the case however if the month it applied to was in march 1999 for instance the £80 would now be circa £385
4450 days x £1080 x 8% = £385 + £1080 Thats if I'm correct of course
Pity Derwnts offline but I'm sure he be able to correct if it not right

It is correct to a degree, however a credit balance of £1,000 is highly unlikely to ever happen.

Monthly PPI premiums tend to range from £10-£100 depending on the balance owing at any given time.

For you to have a ppi premium of £100 you would probably owe £10k +, so when the £100 plus associated interest is added back in, you would still have a large debit balance, so no 8% that month.

If you owed very little each month, and you cleared the balanced every month then you could end up with a credit balance, as the PPI probably had a minimum premium each month. (say £5, plus the associated interest) could mean a positive balance.

Jonny1972

di3004 wrote: »

Hi Jonny

If you still have the account number that is fine, you can still make a reclaim, not all of us have had much paperwork but know we were sold and mis sold ppi and have still been successful - when it comes to you making a reclaim they will soon find the info they need to investigate, so do still go for the reclaiming, it does not matter if you no longer bank with them either.;)


Hi and thanks Di,
I will continue with my reclaim, but what about my existing debt. Should that be wrote off as the bank has no record of the agreement?
Jonny

Egg_Chaser_12

Jonny1972 wrote: »

Hi all,

I wrote to my bank to ask for a copy of my credit agreement under section 77 of the Consumer Credit Act 1974, to make a claim for my loan PPI.

A long awaited reply read "We regret to advise you that the loan agreement form has been misfiled and, despite searching our records, we have been unable to locate it. Our record of the setting up of the loan has insufficient detail to enable us to recreate the agreement with the required degree of certainty that is required."

I stopped paying my monthly installments because i believe the PPI owed to me is more than my existing debt.

I am no longer a customer with the associated bank and im unsure what to do next.

Any advise would be appreciated.
Thanks
Jonny

I am not sure if I am right but if you stop paying then you are breaching your contract and open yourself up to them. Might be worth while catching up with payments and then going to the FOS. You shoudl get back any payments that you have made over the top anyway.
I know it doesn't help when money is tight these days.

di3004

gdecruz wrote: »

Egg Credit Card - Success :T

standard reclaim :money: form used

Refund of CRP payments +
Refund of interest on premiums @ card rate +
8% interest on all of that

Total £4,000!

Response by egg including cheque provision - 6 weeks

Well done on your success!:T Congratulations!:beer:

di3004

plumfin wrote: »

Hi, I need to complain to Barclaycard, but I can't find an email address. Can anyone help? thanks

Hi hun

Some details below, think it maybe an email form though..

http://www.barclaycard.co.uk/personal-home/customer-service/complaints/index.html

CEO details here......

[EMAIL="david.chan@barclaycard.co.uk"]david.chan@barclaycard.co.uk[/EMAIL]



Good luck x;)