PPI Reclaiming successes and failures

[Deleted User]

backinbusiness wrote: »

Interestingly, although I didn't have PPI on a 3rd loan, because this loan was larger than it otherwise should have been (ie, to consolidate the previous loans which did have PPI), I received compensation for this too.

You received redress for the third loan because the PPI from the first and second loan was carried forward for each consecutive loan in the chain. So even though you had no PPI on the thirds loan, you continued being charged for the PPI (with interest) from the previous two.

This is the reason a complaint about PPI on a consolidation chain of loans is a sure fire winner.

[Deleted User]

lou_to_you wrote: »

Hi all..just a quick question, wrote to several credit card companies to ask for credit agreements copy

Credit agreements are not available when the accounts are closed. If the Bank have sent you a questionnaire to fill out then they have obviously interpreted your request as a PPI complaint. If you have valid mis-selling reasons then you can and should complain by filling out the form.

amersall

pepper1986 wrote: »

That seems to tie in with what Ocean (Broker) said.

They will send a cheque to Paragon (Loan provider) for 4.5k which will knocked off the loan and reduce the monthly payment by £60 a month.

I would of liked the whole amount back but I can see where what they are doing now.

Think of it this way, you save thousands in interest over the remaining term just by having the PPI taken off you have saved £60 a month and you have back to you all the PPI you paid with the interest win win.

lou_to_you

Moneyineptitude wrote: »

Credit agreements are not available when the accounts are closed. If the Bank have sent you a questionnaire to fill out then they have obviously interpreted your request as a PPI complaint. If you have valid mis-selling reasons then you can and should complain by filling out the form.

Thank you for your reply.

lou_to_you

Moneyineptitude wrote: »

Credit agreements are not available when the accounts are closed. If the Bank have sent you a questionnaire to fill out then they have obviously interpreted your request as a PPI complaint. If you have valid mis-selling reasons then you can and should complain by filling out the form.

And just another question(sorry to mither !!)..but with them sending the questionnaire, does that mean we have paid ppi?,as we didn't realise we had it!!..:mad: Thanks again

[Deleted User]

lou_to_you wrote: »

with them sending the questionnaire, does that mean we have paid ppi?,as we didn't realise we had it!!..:mad:

Yes. or you would't have been sent a complaint form.

However, it's a myth sponsored by claims companies that PPI was randomly added to loans, credit cards and mortgages without the knowledge and permission of the customer.
If you have PPI, then it's not a valid complaint to say it was simply added. Documentation from the time will show that you did know (and appended your signature) and have since forgotten or didn't bother to read what you were signing.

You need to construct a robust mis-selling complaint with valid and (preferably) verifiable reasons

lou_to_you

Moneyineptitude wrote: »

Yes. or you would't have been sent a complaint form.

However, it's a myth sponsored by claims companies that PPI was randomly added to loans, credit cards and mortgages without the knowledge and permission of the customer.
If you have PPI, then it's not a valid complaint to say it was simply added. Documentation from the time will show that you did know (and appended your signature) and have since forgotten or didn't bother to read what you were signing.

You need to construct a robust mis-selling complaint with valid and (preferably) verifiable reasons

Ok..well here goes!!...:eek:...Thanks for your reply

WelshDragon71

I have succesfully claimed ppi back from Santander, problem is they took 99 quid off me and gave it to the tax man! I am on ESA so I believe I am not a tax payer. The letter states I can claim it back from HMRC via form R40.....I've downloaded the form but it's like a foreign language, so many sections that have no relevance to what I want. I'm also awaiting a PPI claim cheque from Lloyds and £400 is being paid in tax, thats £500odd in total and seeing as I'm expected to live off £53 a week I have to see if I can claim it all back. Any advice on filling in form R40 with this sort of claim? (sorry if this is in the wrong section)

[Deleted User]

WelshDragon71 wrote: »

I've downloaded the form but it's like a foreign language, so many sections that have no relevance to what I want.

Just fill in the relevant sections and send to HMRC with a cover note explaining that this is tax paid on PPI redress interest.
Do be aware that you are not exempt from tax simply because you receive ESA and will only receive a refund if your earnings for the year do not exceed your tax free allowance.

pepper1986

amersall wrote: »

Think of it this way, you save thousands in interest over the remaining term just by having the PPI taken off you have saved £60 a month and you have back to you all the PPI you paid with the interest win win.

Yes I would like to thank everyone at MSE for all the advice along the way.

Its been a long 2 years but its been worth it

:beer: