PPI Reclaiming discussion Part II

di3004

saleralor2004 wrote: »

hi guys im new to this and was wondering if someone can help me,

i had a secured loan with fp that was paid off in janury this years, only had it 15 months, ppi was over £9000 but only recieved a revate of £1900. the loan was through a broker called loanline, i have written to fp to complain but they say its to do with loanline as they sold they insurance, but my compliant is to do with the rebate which i thought would be dealt with by fp, please can someone help

i also had a loan with lomaard direct, i never signed anything as it was over the internet,, can i still apply to have my ppi insurance back as i wasnt asked any questions

Hi there and good on you for already dealing with the rebate.
Marshallka has given you good guidance here to start you off, so the very best of luck to you.;)

di3004

marshallka wrote: »

Are you asking about claiming on credit cards here?? If you are then yes, you can make claims on these too.

Yes your right hun, as mine was early 2000's with the credit card(s) and hubbys (Lloyds), so with these then there should be no problem.:D , cheers hunni for confirming this to Mark.;)

Gina_Chiurlea

Hi All.

I'm new to all this and am desperate for help.

I took out a consolidation loan in 2004 with HFC. Walking through their door was the worst decision I have ever made (alongside marrying my ex-husband):rotfl:

I was told I had to take out the PPI due to being high risk otherwise they couldn't give me the money. They added this as part of the loan at the beginning of the 7 yr payment period meaning I have to pay interest on the whole amount. (Single Premium Policy) I believe it's called. Originally I was paying £216 per month but fell into difficulties when my I seperated from my ex and contacted them to reduce my payments temporarily while I sorted things out. They agreed over the phone to accept half (£136.21) per month. I have been paying this amount ever since as when I contacted them they said I couldn't go back to my original payments as they had extended the terms of my original loan to the new amount. I wasn't sure what this meant till today but I went to the bank to discuss my account and was offered to consolidate all my loans for a much better rate. I went to HFC for a settlement figure only to find out that the amount outstanding is £1,300 more than what it was 8 months ago and the outstanding balance is £6000 more than what it was 6 months ago. They also informed me that this was somehow due to the credit crunch and that I will be repaying the loan till 2016. WHAT THE HELL IS GOING ON!!!!:mad: I never recieved any confirmation of the extended terms which started in November 2005 and I have never been contacted asking if I agree to the extended terms or if I am happy to pay it for the rest of my life. the original loan I went in for was only £6500 and I've already paid back £7775. I seem to be paying and paying but the figures are going up instead of down.

Sorry for dragging it out so long but I'm so frustrated I cried in front of my bank manager today and even after calling them I was told they would log I'd called to complain. When I got my settlement figure in January 2008 the outstanding balance was £13441. Now the're telling me it's £19798. Please help me!!! :eek:

marshallka

di3004 wrote: »

Yes your right hun, as mine was early 2000's with the credit card(s) and hubbys (Lloyds), so with these then there should be no problem.:D , cheers hunni for confirming this to Mark.;)

One of the cards PPI was only five years ago and the other was 7 years so would always try. The 7 years ago one could be said to be statute barred but still worth a try.

---

mark said
also have a loan wth nationwide that as £3000 PPI over the term and a nationwide cc for about 7 years that as PPI and a lloyds tsb cc with PPI of about 5 years.

marshallka

Gina_Chiurlea wrote: »

Hi All.

I'm new to all this and am desperate for help.

I took out a consolidation loan in 2004 with HFC. Walking through their door was the worst decision I have ever made (alongside marrying my ex-husband):rotfl:

I was told I had to take out the PPI due to being high risk otherwise they couldn't give me the money. They added this as part of the loan at the beginning of the 7 yr payment period meaning I have to pay interest on the whole amount. (Single Premium Policy) I believe it's called. Originally I was paying £216 per month but fell into difficulties when my I seperated from my ex and contacted them to reduce my payments temporarily while I sorted things out. They agreed over the phone to accept half (£136.21) per month. I have been paying this amount ever since as when I contacted them they said I couldn't go back to my original payments as they had extended the terms of my original loan to the new amount. I wasn't sure what this meant till today but I went to the bank to discuss my account and was offered to consolidate all my loans for a much better rate. I went to HFC for a settlement figure only to find out that the amount outstanding is £1,300 more than what it was 8 months ago and the outstanding balance is £6000 more than what it was 6 months ago. They also informed me that this was somehow due to the credit crunch and that I will be repaying the loan till 2016. WHAT THE HELL IS GOING ON!!!!:mad: I never recieved any confirmation of the extended terms which started in November 2005 and I have never been contacted asking if I agree to the extended terms or if I am happy to pay it for the rest of my life. the original loan I went in for was only £6500 and I've already paid back £7775. I seem to be paying and paying but the figures are going up instead of down.

Sorry for dragging it out so long but I'm so frustrated I cried in front of my bank manager today and even after calling them I was told they would log I'd called to complain. When I got my settlement figure in January 2008 the outstanding balance was £13441. Now the're telling me it's £19798. Please help me!!! :eek:

Right calm down if you can. You have to go for the PPI misselling here as you have stated that they would not loan the money without.

First now you need to send the first template letter and add/delete as many reasons as you can for the misselling here. Then you send it recorded delivery and also have to wait 8 weeks for a full and final response. Then we will take it from there. As regards the other I think this matter may be best on the loan thread as a seperate issue as there may be more people to help you there.

di3004

Gina_Chiurlea wrote: »

Hi All.

I'm new to all this and am desperate for help.

I took out a consolidation loan in 2004 with HFC. Walking through their door was the worst decision I have ever made (alongside marrying my ex-husband):rotfl:

I was told I had to take out the PPI due to being high risk otherwise they couldn't give me the money. They added this as part of the loan at the beginning of the 7 yr payment period meaning I have to pay interest on the whole amount. (Single Premium Policy) I believe it's called. Originally I was paying £216 per month but fell into difficulties when my I seperated from my ex and contacted them to reduce my payments temporarily while I sorted things out. They agreed over the phone to accept half (£136.21) per month. I have been paying this amount ever since as when I contacted them they said I couldn't go back to my original payments as they had extended the terms of my original loan to the new amount. I wasn't sure what this meant till today but I went to the bank to discuss my account and was offered to consolidate all my loans for a much better rate. I went to HFC for a settlement figure only to find out that the amount outstanding is £1,300 more than what it was 8 months ago and the outstanding balance is £6000 more than what it was 6 months ago. They also informed me that this was somehow due to the credit crunch and that I will be repaying the loan till 2016. WHAT THE HELL IS GOING ON!!!!:mad: I never recieved any confirmation of the extended terms which started in November 2005 and I have never been contacted asking if I agree to the extended terms or if I am happy to pay it for the rest of my life. the original loan I went in for was only £6500 and I've already paid back £7775. I seem to be paying and paying but the figures are going up instead of down.

Sorry for dragging it out so long but I'm so frustrated I cried in front of my bank manager today and even after calling them I was told they would log I'd called to complain. When I got my settlement figure in January 2008 the outstanding balance was £13441. Now the're telling me it's £19798. Please help me!!! :eek:

Hi there hun
And am very sorry to hear of your issues here, and am sure there is a way around this.

Now I am not certain what the conditions are if they have reduced your payments hunni but regarding the PPI, you may still be able to try to reclaim on this, and yes the outstanding figure is pathetic I know......:mad: .

Have you this calculations in writing hun, if not please request for a copy of this in writing it can be worked out here if you want someone to have a look for you just to be sure.;)

I do think though they have mis sold you the ppi and it could still be worth complaining about this, then if successful obviously they would reduce your ourstanding balance or maybe you could have the choice of having this repaid directly to you.

However, I would wait for another response here hun just to be sure.

Editing back in :::
I see our Marshallka has already given you some advice and guidance here hunni, so you go for it.

Di.
x

marshallka

Gina_Chiurlea wrote: »

Hi All.

I'm new to all this and am desperate for help.

I took out a consolidation loan in 2004 with HFC. Walking through their door was the worst decision I have ever made (alongside marrying my ex-husband):rotfl:

I was told I had to take out the PPI due to being high risk otherwise they couldn't give me the money. They added this as part of the loan at the beginning of the 7 yr payment period meaning I have to pay interest on the whole amount. (Single Premium Policy) I believe it's called. Originally I was paying £216 per month but fell into difficulties when my I seperated from my ex and contacted them to reduce my payments temporarily while I sorted things out. They agreed over the phone to accept half (£136.21) per month. I have been paying this amount ever since as when I contacted them they said I couldn't go back to my original payments as they had extended the terms of my original loan to the new amount. I wasn't sure what this meant till today but I went to the bank to discuss my account and was offered to consolidate all my loans for a much better rate. I went to HFC for a settlement figure only to find out that the amount outstanding is £1,300 more than what it was 8 months ago and the outstanding balance is £6000 more than what it was 6 months ago. They also informed me that this was somehow due to the credit crunch and that I will be repaying the loan till 2016. WHAT THE HELL IS GOING ON!!!!:mad: I never recieved any confirmation of the extended terms which started in November 2005 and I have never been contacted asking if I agree to the extended terms or if I am happy to pay it for the rest of my life. the original loan I went in for was only £6500 and I've already paid back £7775. I seem to be paying and paying but the figures are going up instead of down.

Sorry for dragging it out so long but I'm so frustrated I cried in front of my bank manager today and even after calling them I was told they would log I'd called to complain. When I got my settlement figure in January 2008 the outstanding balance was £13441. Now the're telling me it's £19798. Please help me!!! :eek:

I felt as frustrated as you now as i had just typed you a long reply and then the site went down. :mad:

Right first you need to send the first template letter off here for the misselling of the PPI as they told you they would not loan the money without it. You then give them 8 weeks for a full and final response to it and send it recorded delivery so you have proof.

As regard the other about the new agreement thing then what happened to the PPI here. Have you now got a copy of this new agreement??

When was the first loan before the extension and also how much and how long??

When was the extension loan and how much?? Did you actually have any extra and what happened to the PPI then??

This is very confusing

Gina_Chiurlea

Thanks for that. I am breathing.....just!!! It just seems they are ripping me off constantly one way or another. I'll copy and paste it in the laons, thanks!!!

di3004

Gina_Chiurlea wrote: »

Thanks for that. I am breathing.....just!!! It just seems they are ripping me off constantly one way or another. I'll copy and paste it in the laons, thanks!!!

Hi hun do not worry, easier said than done I know but check this out where there is also a template letter on here too to help you through this.;)

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Gina_Chiurlea

I've never had any notification of anything. the new agreement, the PPI, the cancellation, nothing. I didn't even know they had extended the term till recently when I contacted them to say I wanted to discuss the reduced payment issue.