PPI Reclaiming discussion Part II

di3004

gardenrose wrote: »

Message for Di3004 & tiggrae:D

I have contacted the fos, and they are sending a letter to Barclays for me. As you know it can take up to 8 weeks, for them to reply.

Fingers x they will move them into action:rolleyes:

Will let you know as soon as I hear back.

Wonderful hun, shame you have to wait all over again but at least you know this way they will have to get back ......:D , hopefully it will be sooner with a good result, good luck and we look forward to hearing the outcome of this.

Di.
x

happytobehere

Hi all,

I'm very confused re reclaiming PPI and haven't got my head round it yet.

We have a loan with First Plus that we've had for a couple of years. After reading on this site, I've discovered that the 'cashback' thing after 5 years is a waste of time as you get the cashback (if you're lucky) but then have to take out a new PPI for the remainder of the loan.

I wrote to them about it before to see if I could cancel it and they wrote back, saying that I could, but it would only be a tenth of the PPI 'loan' value and it would be added to my account therefore reducing my loan payment every so slightly.

When we took the loan out we were not told about having to take out further PPI after 5 years and they ticked the box for PPI on the paperwork - it was assumed by them that we would want it and at the time I thought it was the correct thing to do (I know!)

Do you think we would qualify for reclaiming the PPI amount?

Thanks

di3004

linda2604 wrote: »

Hi all,

I'm very confused re reclaiming PPI and haven't got my head round it yet.

We have a loan with First Plus that we've had for a couple of years. After reading on this site, I've discovered that the 'cashback' thing after 5 years is a waste of time as you get the cashback (if you're lucky) but then have to take out a new PPI for the remainder of the loan.

I wrote to them about it before to see if I could cancel it and they wrote back, saying that I could, but it would only be a tenth of the PPI 'loan' value and it would be added to my account therefore reducing my loan payment every so slightly.

When we took the loan out we were not told about having to take out further PPI after 5 years and they ticked the box for PPI on the paperwork - it was assumed by them that we would want it and at the time I thought it was the correct thing to do (I know!)

Do you think we would qualify for reclaiming the PPI amount?

Thanks

Hi there linda
Check here on this link
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

There is a list of mis selling reasons, check them through in case you notice more reasons to add to your complaint,also you will note a letter reclaim template, use this to guide you but also try to use your own words with a full explanation of your reasons of why you believe you were mis sold, they have 8 weeks to get back to you, and if you this is unsuccessful please get back to us where we will guide you to the next step.;)

I'm sure you have grounds for complaint here.

Good luck!
Di.
x

marshallka

linda2604 wrote: »

Hi all,

I'm very confused re reclaiming PPI and haven't got my head round it yet.

We have a loan with First Plus that we've had for a couple of years. After reading on this site, I've discovered that the 'cashback' thing after 5 years is a waste of time as you get the cashback (if you're lucky) but then have to take out a new PPI for the remainder of the loan.

I wrote to them about it before to see if I could cancel it and they wrote back, saying that I could, but it would only be a tenth of the PPI 'loan' value and it would be added to my account therefore reducing my loan payment every so slightly.

When we took the loan out we were not told about having to take out further PPI after 5 years and they ticked the box for PPI on the paperwork - it was assumed by them that we would want it and at the time I thought it was the correct thing to do (I know!)

Do you think we would qualify for reclaiming the PPI amount?

Thanks

You have then been missold here and need to get claiming. Barclays FIrstplus are always selling this way and actually they glamorise the fact that you may be able to get this cash back but they forget to tell you the policy only last for 5 years and that although you do get your cashback it is only the price you have paid (if you do not make a claim) and also they forget to mention that your PPI is actually another loan and this is payable plus interest for the full term of the actual loan. Really you have been ripped off here and like I say get the first letter in.

When did you take this out?? ALso most important was it actually FIrstplus that sold this to you and not a broker??

If you did go through a broker then its the broker you make the complaint against and not Barclays FIrstplus.

You send the letter out and then give them 8 weeks for a full and final response. If they write back (usually do!!) saying that they have done nothing wrong then you have to write again until you get a final response or the 8weeks are up.

Then you take your complaint to the FOS..

HomeSpun

Hi This is a copy of the message I posted on the loans board - di3004 suggested I post it here too as it's partly to do with a PPI claim.

Thanks again

HS x

_________________________________________________________________

I am hoping some of you lovely savvy people could help me with a small dilemma I have.

I took out a loan with Black Horse in June 2005 for an amount of £1500, APR of 29.9%, charge for credit was £709.27, duration of agreement was "minimum of 37 months". PPI was added to this: PPI £403.27, charge for credit of £190.95, total for PPI £594.22 (figures taken from original agreement).

Firstly, I'm sure I was told I had to have the PPI to take out the loan. Unfortunately it was all done face to face in one of their offices so there would be no record of this. Can I re-claim it?

Secondly, I missed some payments when we moved house (I can't remember exactly how many, but I have all my bank statements from the year dot so I could find out definitively). Because of this charges were added to my account to the total of £145.00. Are these charges supposed to 'accurately reflect' their costs in administrating late payments? If so, their collections consisted of one letter and one phone call - £145 seems excessive! Can I re-claim the charges?

Thirdly, I received a letter from them in August this year saying that I had an amount of £54.26 remaining plus the charges of £145.00 (so £199.26). They expected "2 repayments of £75.77 commencing 1st September 2008 followed by a final payment of £47.72". No mention of the frequency of these payments, but as the original agreement is monthly, I assume these payments should have been. They also state in this letter that "No more additional charges will be added during this period and when we have collected the above payments, your agreement will be settled". Now instead of paying them to the letter, I had paid off this £199.26 in weekly payments with the final payment being on 2nd October 2008 (so paid early according to them). I paid this, as I have all their other payments, by standing order.

Yesterday I recieved the following from them:

"It may be an oversight but you still have £98.62 left to pay on your agreement.

Please send us your payment within 7 days........."

I would guess that they have been told that I have cancelled the SO (as the agreement is paid in full according to my figures gleaned from their letter of 8/8/8) and that is what prompted this letter . Although having said that, I'm not sure that that is likely as I cancelled the SO on the 4/10/08 and the letter is dated 2/10/08!

I got the right hump with this as I know I have paid to the letter what they requested in their August letter so I sent them the following:

Dear sir

I write with regard to your letter dated 2nd October 2008, received today, with reference to the above agreement stating that as an ‘oversight’ I have £98.61 remaining to pay on my agreement.

I respectfully refer you to your letter dated 8th August 2008 stating an outstanding balance of £54.26 plus fees to the total of £145.00 (totalling £199.26) and to my subsequent payments listed below.

8th August £19.00
15th August £19.00
22nd August £19.00
29th August £19.00
4th September £24.66
11th September £24.65
18th September £24.65
25th September £24.65
2nd October £24.65

Total: £199.26

I therefore consider the total outstanding at present to be a grand total of £0.00. Your most recent letter also strikes me as very strange as your previous letter (dated 8th August 2008) requests payments of £75.77 on 1st September 2008 and 1st October 2008 plus a final payment of £47.72 on 1st November 2008.

I also note that your letter dated 8th August 2008 categorically states that:

“No more additional charges will be added during this period and when we have collected the above payments, your agreement will be settled.”

In light of the discrepancies that you clearly have on my agreement, I consider it necessary to request a full statement from yourselves detailing all payments made to you by me and all charges and debits rendered to this account from the agreement date of 29th June 2005 up until today’s date to enable me to compare this to my full and accurate records. I also request an explanation as to why, when this agreement has been fully settled, you have written to me requesting more money which is clearly not owed to you.

It would also be appreciated if you could include a copy of your guidelines for late payment charges as the OFT and FSA guidelines state that these charges should reflect your cost of administrating late payments and I would consider £145.00 in charges relating to one telephone call and one letter to be highly unfair and I wish to exercise my right to investigate this fully.

I trust that I will receive your reply within a suitable timescale, namely 15 working days.

I have checked the SO as it stood and the reference details are correct so they have had these payments correctly.

As I said in the letter I sent them, as there are discrepancies on the account, I want a complete statement showing exactly what they have added and when as they seem to be randomly adding amounts to my loan and just expecting me to pay them.

I will later (volunteering at school today) retrace through all my old statements and calculate the exact figure I have paid them since the conception of the loan in 2005 and edit my post to include this.

So can anyone clarify the very muddy waters for me - what the heck are they playing at?

I did a search for BH on this board prior to posting and couldn't find any exact answers to all my queries, hence the new post.

Thanks to anyone who has read this stupidly long post and in advance to anyone who can help

HS x

Bisoy

We've sent our reclaim form 2 months ago and today received a letter from Halifax that they are going to refund back our PPI as it was missold and that we would be expecting payment in a months time. Obviously good news but not been carried away yet as no figures yet and it's not in out hands yet.

marshallka

HomeSpun wrote: »

Hi This is a copy of the message I posted on the loans board - di3004 suggested I post it here too as it's partly to do with a PPI claim.

Thanks again

HS x

_________________________________________________________________

I am hoping some of you lovely savvy people could help me with a small dilemma I have.

I took out a loan with Black Horse in June 2005 for an amount of £1500, APR of 29.9%, charge for credit was £709.27, duration of agreement was "minimum of 37 months". PPI was added to this: PPI £403.27, charge for credit of £190.95, total for PPI £594.22 (figures taken from original agreement).

Firstly, I'm sure I was told I had to have the PPI to take out the loan. Unfortunately it was all done face to face in one of their offices so there would be no record of this. Can I re-claim it?

Secondly, I missed some payments when we moved house (I can't remember exactly how many, but I have all my bank statements from the year dot so I could find out definitively). Because of this charges were added to my account to the total of £145.00. Are these charges supposed to 'accurately reflect' their costs in administrating late payments? If so, their collections consisted of one letter and one phone call - £145 seems excessive! Can I re-claim the charges?

Thirdly, I received a letter from them in August this year saying that I had an amount of £54.26 remaining plus the charges of £145.00 (so £199.26). They expected "2 repayments of £75.77 commencing 1st September 2008 followed by a final payment of £47.72". No mention of the frequency of these payments, but as the original agreement is monthly, I assume these payments should have been. They also state in this letter that "No more additional charges will be added during this period and when we have collected the above payments, your agreement will be settled". Now instead of paying them to the letter, I had paid off this £199.26 in weekly payments with the final payment being on 2nd October 2008 (so paid early according to them). I paid this, as I have all their other payments, by standing order.

Yesterday I recieved the following from them:

"It may be an oversight but you still have £98.62 left to pay on your agreement.

Please send us your payment within 7 days........."

I would guess that they have been told that I have cancelled the SO (as the agreement is paid in full according to my figures gleaned from their letter of 8/8/8) and that is what prompted this letter . Although having said that, I'm not sure that that is likely as I cancelled the SO on the 4/10/08 and the letter is dated 2/10/08!

I got the right hump with this as I know I have paid to the letter what they requested in their August letter so I sent them the following:

I have checked the SO as it stood and the reference details are correct so they have had these payments correctly.

As I said in the letter I sent them, as there are discrepancies on the account, I want a complete statement showing exactly what they have added and when as they seem to be randomly adding amounts to my loan and just expecting me to pay them.

I will later (volunteering at school today) retrace through all my old statements and calculate the exact figure I have paid them since the conception of the loan in 2005 and edit my post to include this.

So can anyone clarify the very muddy waters for me - what the heck are they playing at?

I did a search for BH on this board prior to posting and couldn't find any exact answers to all my queries, hence the new post.

Thanks to anyone who has read this stupidly long post and in advance to anyone who can help

HS x

If you are on about the misselling of the PPI then you need to send out the first letter template from here. Add delete whatever is necessary to your claim for misselling. You then give them 8 weeks for a full and final response. Send it recorded delivery as you have a proof and also do a copy.

As regards the payments etc. I think that would be best left to the loans thread here.

marshallka

Bisoy wrote: »

We've sent our reclaim form 2 months ago and today received a letter from Halifax that they are going to refund back our PPI as it was missold and that we would be expecting payment in a months time. Obviously good news but not been carried away yet as no figures yet and it's not in out hands yet.

Great for you!

Have you posted on the success thread as well. Let someone know the figures and perhaps they can be checked for you.

di3004

marshallka wrote: »

If you are on about the misselling of the PPI then you need to send out the first letter template from here. Add delete whatever is necessary to your claim for misselling. You then give them 8 weeks for a full and final response. Send it recorded delivery as you have a proof and also do a copy.

As regards the payments etc. I think that would be best left to the loans thread here.

Thanks hun
So it would be a good idea then if HS splits this into 2 complaints/claims then ?;)
I had suggestes for HS to post here due to the ppi and see you have already mentioned about the letter, cheers hun.:D

di3004

Bisoy wrote: »

We've sent our reclaim form 2 months ago and today received a letter from Halifax that they are going to refund back our PPI as it was missold and that we would be expecting payment in a months time. Obviously good news but not been carried away yet as no figures yet and it's not in out hands yet.

Oh yes very good news indeed........:D well done:beer: :j , and like what Marshallka has suggested please post your success also over at the success thread.;) :T .
xx