PPI Reclaiming discussion Part II

tiggrae

ANY_CHANCE wrote: »

Hi Tiggrae,

Dont i have to have received their final decision before i can take it to FO?
If so i have not received this yet :think:

AS the FO take 4-6 months to adjudicate I'd start your complaint not, if you haven't already received the final response then send when you do

tiggrae

infowatcher wrote: »

Hi all,

Just noticed the previous notes re GE Money and would like to ask a few questions?

Myself and my now ex-wife took out a secured loan with I-Group (GE Money) in 2003 for £7260

Loan Advance £5000
Optional Protection £1760
Total Credit £6760
Broker Fee £500
Total Loan £7260

It was suppossed to be a 5 year loan however it was paid of after 81/2 months.

I had requested details about this old loan and they eventually after numerous requests sent me a redemption statement. (Below)

Original Sum Loaned £7260.00
Total Charge for Credit £2444.84
Less Rebate of interest £1703.24
Charge for credit £ 741.60
Total £8001.60

Add Disbursements £ 416.63
Add Additional Interest/Int/ Adjs £ 41.09
Total £8459.32

Less monies received £ 813.34
Less other Credits/Capital Adjustments £ 0.00

Settlement Figure £7645.98

Add Discharge Costs £117.50
Add Administration Charges £258.75

Sum required to Redeem before **/**/03 £8022.23


Q1. Am I correct in saying I did not get a rebate on the PPI.

Q2. Also my monthly payments were £163.34, however if I had to claim on my PPI they would only payout a maximum of 12 months.

Therefore PPI Cost (excluding interest) £1760.00
Max Amount could be claimed £1960.08
Difference £ 200.08

Am I correct in saying this dosn't seem very fair as with interest on the PPI it surely exceeds the amount I was able to claim. Also when we took out the Loan we were told it was required.

I would appreciate any advice on how you think I would stand claiming the PPI back, as I believe after reading the previous threads The FSO will not look at this case as it is pre 2005.

You can always take your claim to the County Court for either not received a refund for repaying early which is under the Unfair Consumer Contract Terms Regulations 1999, this a link to what the FSA have to say on the subject Refunds of Single Premium Payment Protection Insurance.

Or for the mis selling which is Negligent Misrepresentation under the Misrepresentation Act 1967

marluc

tiggrae wrote: »

hi the allocation questionaire is easy - just remember it's the court asking you where you want the case to be held and what Court track you want your case to go down - Small Claims, Multi or Fast Track - always go for the Small Claims Court even if it's over £5000. You won't be calling any expert witnesses so just leave that blank.

Also on your particulars, If I were you I'd pull the bit out about CPR 18 and send it to their solictors by serving it on them - I'd also request the following information from them

All procedures in place at the time of the Sale of the Policy to ensure they conform to good practice in the sale of PPI and your client is not guilty of the following poor practices as identified by the FSA:
· Controls in place to prevent the risk of inappropriate sales: around half of the firms failed to take reasonable steps to ensure that customers did not buy policies on which they could not claim or which provided only very limited cover;
· Controls in place for non-advised sales: about half of the firms selling on a non-advised basis did not have adequate systems to stop their staff giving advice or were providing information that amounted to giving advice;
· The systems in place to assess customer suitability for ppi product;
· There was an over-reliance on product documentation given to the customer at the expense of explaining the policy to the customer orally: most firms selling by telephone did not give sufficient information on exclusions;
· Procedures in respect to the quality and timeliness of product and price disclosure;
· The level and structure of inducements and Sales staff targets; and
· Training of sales staff, particularly the person who sold me the policy;
· Management Information regarding compliance monitoring. Any Internal Audit reports into the sale of PPI.

Hi Tiggrae
Thanks for such a prompt response.
Sorry if I sound thick, but do I send the CPP 18 to Freedom Finance Solicitors now, before I respond to the Small Claims Court on May 1st? Do I expect the solicitors to respond to me before that date, or during the Court case itself? I have never taken anyone to court before, so I don’t know exactly what to do.
On the Court allocation questionnaire, what do I include in the section “other Information”?
Thanks very much for your help so far.

LilacPixie

infowatcher wrote: »

Hi LilacPixie

Just wondering which address you had for WFS head office, ive been told:-
WFS, Mere Way, Ruddington Field Business Park, Ruddington, Nottingham, NG11 6J2

Also is it best to send my 'SAR' to Head Office or does it have to go to the local branch and
who did you make the 'SAR' Postal Order/cheeque payable to.

I sent it to:

Customer Relationship Centre
Apex Business Park
Building C
Ruddington Lane
Wilford
Nottingham
NG11 7DD

and made cheque payable to welcome finance.

I tried local branch but they have a new filing system called the bin so now i never deal with them.

Thanks for showing me the workings tiggrae

tiggrae

marluc wrote: »

Hi Tiggrae
Thanks for such a prompt response.
Sorry if I sound thick, but do I send the CPP 18 to Freedom Finance Solicitors now, before I respond to the Small Claims Court on May 1st? Do I expect the solicitors to respond to me before that date, or during the Court case itself? I have never taken anyone to court before, so I don’t know exactly what to do.
On the Court allocation questionnaire, what do I include in the section “other Information”?
Thanks very much for your help so far.

You can do both at the same time, in your letter to the solicitors make sure you say something like - In accordance with CPR 18, please find attached a request for further information by way of service upon you. Also, in accordance with the aforementioned rules, please acknowledge receipt of said request within 7 days with a full response within 28 days of the date of this letter. Please note this request has been filed with the County Court.

In the further information just state you believe the small claims court to be the most appropriate to hear your claim.

bbaby_2

Hi,

Would appreciate some advise.

We took out a loan back in 1998 for £6000 + PPI

I cant find any of the original paperwork. ( I know im an idiot)

I was paying £160.00 / month untill 2001 when I had my first baby and we were struggling at the time as my husbands bank account was being charged rediculous overdraft charges month after month and we were getting deeper and deeper into an overdraft and couldnt get out of it as charges of £75 to £120 per month were being incured.

I couldnt afford to pay the full £160.00 pm for the loan whilst on maternity leave.

Basically as I knew I had PPI, I called RBS and explained the situation and asked about the PPI.
I remember clearly being told that they cant help me as the cover wasnt with them, i felt lost and didnt know where to find who i needed to speak to.

I assumed as I had taken out the loan with RBS and was paying PPI that they would direct me to the appropriate place regarding claiming under PPI.

Basically the loan was passed onto RBS Credit Management Service (total balance owed £6,777.35 and I had to make payments of £110.00 p/m instead of the £160.

Then in March 03, I was out of work and my payments went down to £50.00 p/m

and Im still paying £50.00 p/m todate and at present I still owe £1567.35

Im bit confused as to why at the time when I asked about the PPI they couldnt help.

I know I have left it a long time, but is there anything I can do now ?

Much appreciate anyones feedback.

Many thanks

Kaia_2

marluc wrote: »

Hi Tiggrae
Thanks for such a prompt response.
Sorry if I sound thick, but do I send the CPP 18 to Freedom Finance Solicitors now, before I respond to the Small Claims Court on May 1st? Do I expect the solicitors to respond to me before that date, or during the Court case itself? I have never taken anyone to court before, so I don’t know exactly what to do.
On the Court allocation questionnaire, what do I include in the section “other Information”?
Thanks very much for your help so far.

Hi Marluc
Please keep us posted on how you get on, I am in a very similar position to you, preparing to issue my claim - also Freedom Finance, for PPI on a loan in 2002.
I wish you all the best and hope you get your money back!
Look forward to reading your success story on here soon, alongside mine hopefully

mac_saver

tiggrae wrote: »

Not at all - you can still take your claim to the county court !!!!

Hi I am 100% certain that GE mis-sold my wife her PPI but as they are refusing to reply anymore to my letters asking for their proof that they are right I fear court will be the only answer. Any Idea of the chance of succeding will be??
Has anyone had any positive outcomes from GE yet??

marluc

Kaia wrote: »

Hi Marluc
Please keep us posted on how you get on, I am in a very similar position to you, preparing to issue my claim - also Freedom Finance, for PPI on a loan in 2002.
I wish you all the best and hope you get your money back!
Look forward to reading your success story on here soon, alongside mine hopefully

Hi Kaia
Thanks for your support. I’ll certainly let you know how I get on. Good luck with your case. Hope it goes well. I’m beginning to lose sleep over this.

mon1o

hi all im after some advice. i have had a hsbc credit card for many years now and i did have an insurance policy attatched to it i was paying 79p per £100 balance each month. My card has been at the max limit of £2000 and a few months ago hsbc cancelled the insurance. I was told at the time i took out the card my application would be denied without the insurance and that i couldnt cancel the policy as it was a requirement of me having the card. Im not sure if this is PPI or another policy as on my statements it is simply called 'insurance premium'(i was 18 and naive at the time i got it) and if it is ppi im not sure how to go about reclaiming this as i cant prove it was mis sold to me (i cant find my credit agreement and i was never given full information about the policy in the first place). Also ive just started the process of claiming the card charges back.

Does anyone have any ideas whether a) the policy i have is definitley ppi and b) does it sound like i can claim it back? and will it affect my credit card charges claim?

Many thanks
Monica xx