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PPI Reclaims not covered by the FOS
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Hi
I am not sure if anyone can shed some light on this. I took out a personal loan with Lloyds TSB several years ago with the PPI (i believe 2002, for 5 years and the original amount was £5k). However for a couple of years in January (the bank ever so nicely of course!) encouraged me to refinance the loan so I did in the following 2 januarys that followed. The overall loan I think came to £8k by the time I finished paying it off last year. My question is which of the 'ppi's on the loan(s) I have had be the one that I go after? I think I received a letter every time I refinanced the loan advising the ppi and if there was any reimbursement but will obviously have to check all the details this weekend. Would it still be viable for me to go after it if I have refinanced it a couple of times, I mean is there some clause that will get the bank/provider out of this claim because of this? I am confused!
Thanks!
Also I am not sure if I have posted this on the right section of the ppi forum so am sorry if it is duplicated0 -
Duracellbunny wrote: »Hi
I am not sure if anyone can shed some light on this. I took out a personal loan with Lloyds TSB several years ago with the PPI (i believe 2002, for 5 years and the original amount was £5k). However for a couple of years in January (the bank ever so nicely of course!) encouraged me to refinance the loan so I did in the following 2 januarys that followed. The overall loan I think came to £8k by the time I finished paying it off last year. My question is which of the 'ppi's on the loan(s) I have had be the one that I go after? I think I received a letter every time I refinanced the loan advising the ppi and if there was any reimbursement but will obviously have to check all the details this weekend. Would it still be viable for me to go after it if I have refinanced it a couple of times, I mean is there some clause that will get the bank/provider out of this claim because of this? I am confused!
Thanks!
Also I am not sure if I have posted this on the right section of the ppi forum so am sorry if it is duplicated
Hi there
I think you would get more info/advice from the PPI Reclaiming Discussion thread, if you press on loans then at the top of that page you will come across the above mentioned thread.;)
Myself and others will be able to point you in the right direction from here.
You may have a case here - very likely.;)
Hope to see you there, cheers
Di.The one and only "Dizzy Di"0 -
What ever you guys do.... dont go through a reclaiming company, i used to work for one called first line services, and they are dodgey as hell and so are all the others, they are there to purely con you,
Best way to do it is take credit agreements to a solicitor, they can then tell you if youve been missold PPI.
If you have then wikid, go fight to get your PPI back, if not then theres no point trying.
PPI has been put on loads of different thing aswell, not just loans.
Mortgages,
Unsecured loans,
Contract phones,
Car finance deals,
Credit and store cards.
SO be sure to take several credit agreements for desired affect.
any other questions do not hesitate?0 -
hi everybody,
having same problem as a lot of you with blackhorse.
i have put a complaint to watchdog about them & the FLA.
THE MORE PEOPLE THAT COMPLAIN TO THEM, the more chance of it being investigated & aired. no matter who sold you the ppi complain to watchdog.
lets stick together :beer: :beer: :beer: :beer: :beer: :beer:0 -
hi everybody,
having same problem as a lot of you with blackhorse.
i have put a complaint to watchdog about them & the FLA.
THE MORE PEOPLE THAT COMPLAIN TO THEM, the more chance of it being investigated & aired. no matter who sold you the ppi complain to watchdog.
lets stick together :beer: :beer: :beer: :beer: :beer: :beer:
Well done masmit get the word out there.:T :T:mad:0 -
What ever you guys do.... dont go through a reclaiming company, i used to work for one called first line services, and they are dodgey as hell and so are all the others, they are there to purely con you,
Best way to do it is take credit agreements to a solicitor, they can then tell you if youve been missold PPI.
If you have then wikid, go fight to get your PPI back, if not then theres no point trying.
PPI has been put on loads of different thing aswell, not just loans.
Mortgages,
Unsecured loans,
Contract phones,
Car finance deals,
Credit and store cards.
SO be sure to take several credit agreements for desired affect.
any other questions do not hesitate?
So how much do these solicitors charge you then?
They of course work for nothing.
There are just one or tow companies out there that will provide a cost free service.
It is difficult to con if you dont charge anything.I am a former Broker, former IFA and former compliance officer, for my sins.
However, I have since seen the light.0 -
Can anyone help me we bought a car using a private dealership who supplied the loan through GE Money. When we moved we sorted all our paper work out and realised that they had added PPI to the loan we did not even realise (stupid i know). The loan was taken out in Jan 2004 and they are saying that because it was taken out before Jan 2005 the FSA descision is not relevant. They then went on to say that as the sale of the insurance was made with the dealership they are not liable and we should perhaps take the matter up with them, is this correct. Any help would be gratefully received.
[EMAIL="abuse@moneysavingexpert.com?subject=Reporting post http://forums.moneysavingexpert.com/showpost.html?p=17884859"]
[/EMAIL]
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Can anyone help me we bought a car using a private dealership who supplied the loan through GE Money. When we moved we sorted all our paper work out and realised that they had added PPI to the loan we did not even realise (stupid i know). The loan was taken out in Jan 2004 and they are saying that because it was taken out before Jan 2005 the FSA descision is not relevant. They then went on to say that as the sale of the insurance was made with the dealership they are not liable and we should perhaps take the matter up with them, is this correct. Any help would be gratefully received.
This is of course nonesense.
The lender is liable as they arranged the ppi not the dealership.
There are issues above and beyond mis-selling that you may be able to challenge GE on in this instance.I am a former Broker, former IFA and former compliance officer, for my sins.
However, I have since seen the light.0 -
Thank you I will try ringing them and see what they have to say it would be so easy to just give up due to the fact that i haven't got a clue wether they are fobbing me off or not but i'm determined to give it a go.0
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Tina.. no matter what they say, they are fobbing you off.. just remember that.. if more and more people just give up then there is no hope for the rest of us.. PeterMB is correct in saying that its not just about the PPI, the chances are that they company did not disclose relevant information which is against the law.
And as far as the law goes, something might be illegal, but you will never get prosecuted unless someone takes the action against you.
The same goes with these finance companies.. they try to get away with what they can knowingly breaking the law as to them is all about risk management.. they know for every million policies sold only a small percentage will complaint about it, and therefore the rewards outweigh the risks.
You have to fight, its your right and know that you are not alone.
If you dont understand then its time to call in the pros. Many companies now will fight on your behalf for free, and know that it is only solicitors that can address issues of non-disclosure and take it all the way to court if need be.
Hang in there.. it will be worth it in the end.0
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