PPI Reclaiming successes and failures

[Deleted User]

It's a fact that use of a template letter does nothing to enhance the chances of a successful complaint. Just put your case in your own words. Do note that underwriters will generally only accept liability in very limited circumstances..

CRAZY:HORSE_2

I just wanted a template letter as a guide to see if there's any important information obviously that I do not want to leave out!


Thanks

Nearlyold

wingobins wrote: »

After over 2 yrs chasing up and first getting turned down by Yorkshire Bank, I wrote to the FO and have just been awarded £1,782. I wasn't sure if I would get turned down as I had written the letter myself but it worked! Now to encourage my hubby who didnt believe in it all and he is still paying PPI on the mortgage!

Perhaps your hubby wants the cover that the mortgage PPI provides.

magpiecottage

Britt wrote: »

Lo and behold, this week I have received another PPI Refund cheque from Lloyds for over £4000.00. :j
NOW, my nasty suspicious mind is working overtime, did that PPI Claims company have prior knowledge that I was about to receive that refund, and were hoping to cash in......! :eek:

The claims company will probably claim that they are entitled to a cut of the extra money. This is fraud as they were told in Claims Management Bulletin 23 that they cannot. Any such attempt should be responded to with a complaint and the matter reported to consumer@claimsregulation.gov.uk

magpiecottage

wingobins wrote: »

Now to encourage my hubby who didnt believe in it all and he is still paying PPI on the mortgage!

Of course if he loses his income and has no PPI on the mortgage you risk finding yourselves on the street.

Still - I believe Black, Cotswold Outdoor, Mountain Warehouse etc. have sales on at the moment so you should be able to pick up bargain tent from one of their 2015 ranges.

magpiecottage

CRAZY:HORSE wrote: »

Hi! I am about to complain to the under writers for three secured loans I had pre 2005 and I wondered if anyone had a template letter I could use or use parts of to get my complaint written the correct way.


I have written my own in the past but I am guessing the complaint letter to an under writer might need certain facts or information that I may leave out.


This is for my complaint on three secured loans pre 2005, that's why im having to complain to the insurance company.


Thanks

You need to explain why you think the policies were missold.

A secured loan means the borrower can get you thrown out of your home if you do not meet the repayments - and then sell it to get their money back. This is the same as any other mortgage lender and, provided you were eligible to claim, means PPI was suitable (though a single premium paid up front might not be).

You also need to explain why you think the product provider is responsible for the missale. Otherwise it is a bit like complaining to Bosch that you John Lewis sold you a washing machine when what you wanted was an electric drill. It might be the wrong product but it would not be the fault of Bosch that you were missold it.

Santander_fighter

Would anyone be able to help me with any advice on what to do ?

My case:
Took out a loan with First Plus on 16th March 2007.
Amount £25100. ( I only needed £22k but for some reason they advised me to borrow over £25k?
Monthly payment £199
Loan term 25 years, secured on my home.
Settled loan in Dec 2011 ( which still cost roughly £ 23000 to settle )

I have no idea if the loan had PPI with it, I would have declined PPI if it was offered to me, but I would not be aware if they had loaded it into the loan. I applied for the loan over the phone. My requirement at the time was to borrow that much money and could only afford £199 per month repayment.
I phoned First Plus a few years ago but it felt like they just fobbed me off, so I left it.
Unfortunately I threw out all of loan paperwork after I paid it off, I always hated that loan but it was necessary at the time.
I'm unsure what is the best thing to do, as I don't want to phone them again.
Any recommendations welcome ?
Many thanks.

dunstonh

I have no idea if the loan had PPI with it, I would have declined PPI if it was offered to me, but I would not be aware if they had loaded it into the loan.

Why would you not be aware if they loaded it onto the loan?

It would have been in the agreement either explicitly stated or the amount being borrowed and the amount you received would be different.

I'm unsure what is the best thing to do, as I don't want to phone them again.

If you dont ask them then you are not going to know.

[Deleted User]

Santander_fighter wrote: »

Amount £25100. ( I only needed £22k but for some reason they advised me to borrow over £25k?

How much you agreed to borrow is not cause for complaint, I'm afraid. You are free to borrow as much or as little as you want. The lender did not force you to borrow more than you needed.

If PPI was applied to the loan then the only reason you would not know is if you have forgotten or you simply did not read what you were signing, If your loan agreement doesn't show PPI then you didn't have it.

Santander_fighter

Thank you for your reply dunstonh. I'm sorry I think I should have made my question clearer.
Do you know if it is possible for a loan company to add PPI without a customer being aware of it ?
I just cannot remember the details from when I took out the loan in 2007. My credit report tells me the amount I borrowed.
( I rushed in to it in a hurry to get the money asap ) I just remember being happy with the monthly payment
I've been reading on here that I could request a copy of my file from them for £10 so I might do that.