PPI Reclaiming successes and failures

di3004

bakerboy35 wrote: »

Hi Di

No Arrears at all, so looking forward to receiving my money back, will update when the letter arrives from Black Horse

A big thanks to everyone on here, your help and support is brilliant!!

Good one bakerboy, you have done good here, great work.:T:T
Again, Congratulations and with pleasure.:beer:

koala77

How do you post a thread, could anybody tell me please?!!

kpwll

On the main PPI page, at the top you will see 'Thread/Thread starter.
Good luck

koala77

I took out a loan with Paragon Finance in 2007, Central Capital were the broker. I am currently in the process of trying to reclaim my mis-sold PPI. I have only written to Paragon so far but am fully expecting them to direct me towards Central Capital as they were the ones who arranged my loan.

Another complaint I have is that I have noticed as I have been looking over my paperwork, that at no point was I told about any broker fees or commission to be paid by Paragon to Central Capital. I have been reading lots of OFT literature and case law (Wilson v Hurstinger??) and that says that the broker has to tell the borrower what commission they will be paid by the lender. I was not informed orally or in writing about this at any point during the loan processing.

Could you clarify that for me please? Where do I stand with regards to this?

Thanks in advance

di3004

koala77 wrote: »

I took out a loan with Paragon Finance in 2007, Central Capital were the broker. I am currently in the process of trying to reclaim my mis-sold PPI. I have only written to Paragon so far but am fully expecting them to direct me towards Central Capital as they were the ones who arranged my loan.

Another complaint I have is that I have noticed as I have been looking over my paperwork, that at no point was I told about any broker fees or commission to be paid by Paragon to Central Capital. I have been reading lots of OFT literature and case law (Wilson v Hurstinger??) and that says that the broker has to tell the borrower what commission they will be paid by the lender. I was not informed orally or in writing about this at any point during the loan processing.

Could you clarify that for me please? Where do I stand with regards to this?

Thanks in advance

Hi and welcome.;)

I would safeguard this now and write to Cap one if they were the broker, or you may receive the letter from Paragon to tell you that they were not responsible and that of Cap one were.
So if you have the copy of that letter, to save writing this all over again, although make them aware that you did also write to Paragon as well, but was advised to write to the broker.

Not too sure on the fees side of things but many do post on the loans thread above about this matter, check the link below for more information, if you don't come across anything then start a post on the loans thread about this matter, good luck.
http://forums.moneysavingexpert.com/forumdisplay.html?f=12
When it comes to fees/commissions etc, its rarely spoken about on this actual thread, to what I know of.;)

Good luck with your reclaim and please do ask for further help on the PPI if required, fingers crossed for you.

Di

Sappoo21

my PPI reclaim failed as they say my wife signed for it what she was unaware of though was how poor the cover was we went to claim as I was made redundant and they said we had to be in employment for 2 and a half years before I could make a claim I was about 6 months short is it worth complaining still to the FOS as I feel we payed for 6 years of worthless cover.
Help gratefully received

pinknico

Always worth complaining to the FOS, what year was the loan and who with?

Sappoo21

pinknico wrote: »

Always worth complaining to the FOS, what year was the loan and who with?

If you are replying to me it was a credit card with capital one.
I have know called the FOS and told them of my complaint.
I have also got to complain to Capital One to tell them telling them I don't agree with there decision and have complained to the FOS about them.
Is there anything else I need to add.
help gratefully received.

marshallka

Sappoo21 wrote: »

my PPI reclaim failed as they say my wife signed for it what she was unaware of though was how poor the cover was we went to claim as I was made redundant and they said we had to be in employment for 2 and a half years before I could make a claim I was about 6 months short is it worth complaining still to the FOS as I feel we payed for 6 years of worthless cover.
Help gratefully received

Was it a joint policy also as your wife is said to have signed and you made the claim? If it was a joint credit card then did it cover you both anyway?

pinknico

Sappoo21 wrote: »

If you are replying to me it was a credit card with capital one.
I have know called the FOS and told them of my complaint.
I have also got to complain to Capital One to tell them telling them I don't agree with there decision and have complained to the FOS about them.
Is there anything else I need to add.
help gratefully received.

Sapoo21, Was the PPI for your credit card ticked on a credit agreement or requested on the phone?

Capital One was fined for mis selling so you could add that in your letter.