PPI Reclaiming discussion Part II

marshallka

di3004 wrote: »

Arh thanks hun.
So I assume all this information will come up when the FSCS investigate?, because if they are actively running under a different names do you think they would tell me to pursue through them, or do you think it then maybe a bit like Click, they will not take any responsibility ??

In july 2005 when we had this loan, we never then known them as Twopart, only eloan.co.uk, as this was all over the paperwork and when speaking to them on the phone they would always say eloan first, as we always used to be in touch by email too....again as eloan.co.uk ???
We do see Twopart on some of the paperwork but like i said did not actually realise that until recently.

So who have you made the complain to the FSCS about?? If it is eloan then they were bought out by Essex County Loans...

di3004

marshallka wrote: »

This was from my exisiting provider. What cheek to tell me that I would be going up to SVR being 7% (as of today but going down with Intelligent Finance to 6.5% in the next couple of weeks). He tried to pull a fast one here for the commission i would think. They offered us a product a couple of weeks ago which was before this drop in interest. It was 6.8% and will become 6.3% because of the drop. That in my reckoning over 3 years would save us £700 and cost us £1000. Where is the fairness there....I pointed this out to him and he just said "you know we are not allowed to advise". (Yeah right)

Crikey......:eek:
Well I think once they have you under their wings, they seem to think they can do what they want !!!
I bet at the beginning when you had taken out your mortgage with them, they couldn't do enough for you......:rolleyes:

di3004

marshallka wrote: »

So who have you made the complain to the FSCS about?? If it is eloan then they were bought out by Essex County Loans...

Exactly that was why I had emailed the FSCS when i was informed by the liquidators about this.
Did you read that email I added above in blue from the FSCS?
They stated they are not aware they were linked and had only just started the investigations.

What annoys me is the fact that when I received the letter from eloan's liquidators a few month ago - to tell me that eloan had liquidated in May 2006, why did they not tell me then about them being taken over ?

Now its too late because they are no longer running either as such, even though companies house states they are active, because they have the liquidators address too.......

When we first found out about eloan going into liquidation, we spoke to a guy on the phone from the FSCS, he said we were eligible to take the case to them, and the application form came back as Twopart/Eloan.co.uk.

di3004

I have just emailed my Adjudicator dealing with Lloyds Tsb, will wait for a reply now.

I asked him if he has any updates on the case yet and if he requires further information for my case is to let me know.;)

Will let you know when I hear, but I take it the FOS will be on lunch break now......maybe.

Pantheon_2

Hi everybody.

I posted this yeterday on the loan forum, but have been asked to paste it here,so hopefully this works!.


Hello everybody, I would appreciate any advice that you could give me about a loan, and PPI, taken out with LloydsTSB, in late 2001.

It’s a long-winded one, really sorry, but I’ve split it in two to try and make sense of it. First the history, and then the points I’m hoping somebody might be able to help me with. Thank you in advance. Please be nice to me, I’m new here.

Ok, deep breath, just talking about this time in my life upsets me.
Single man, I had a bank loan, but it was not a problem. I had no mortgage, no car, no dependents, and managed my money well, the repayments were well within my means. Then sometime in early 2001 that all changed. My mental health deteriorated to eventually the point where I just did not leave the house. I managed to keep up my repayments until my employer, of course, stopped paying me my SSP. Along with this, I was also showing one of the symptoms of depression, erratic overspending, and a huge increase in alcohol consumption. By late 2001 my mind had un-ravelled and the stuff hit the fan. (This is a very brief summary, I hope it doesn’t sound flippant, but it’s a lot more complicated than solely a mental health illness, I was eventually diagnosed with thyroid disease.)

I made an appointment to see my bank manager at the local Lloyds branch, to explain the situation, as I was at this point penniless and buying groceries on my credit card. I explained everything to her including that I was no longer able to make my loan repayments. I asked her for advice, and somehow, within minutes I had a new loan complete with PPI, paying off the existing one, and a little extra on top to keep me going. Needless to say, I could not go back to work, and not long after this, my family literally jumped in and rescued me from what was a very dangerous situation. I lost my job, my flat, my friends, and was still thousands of pounds in debt, with no way of paying it back. I was told that I could not use the PPI because it was an existing medical condition

Now, I could easily have walked away from this, Lloyds had no idea where I was, but it was my debt, and I take responsibility for that. So, almost eight years later, still ill, I have been paying back to a debt recovery agency every month, and yet still owe over £1500 more than the original loan was for. I think this is probably due to non-payment charges etc.

Again, I’m sorry for rambling, I just wanted to tell my story to see if my questions are relevant.

The advice I’m looking for is for the following questions:

• At the time of my meeting with the bank manager, would my PPI on the original loan have been activated after not having been able to work for six months?
• Would I have any grounds to claim that the PPI sold to me for the loan was irresponsible?, especially as she was aware of my medical condition.
• Would I have any grounds to claim that the loan itself was irresponsible?, again due to my medical condition.
• Am I able to claim back for the charges added to my loan and credit card debts?
• If I am able to claim, who would I claim from, the bank or the lovely debt recovery agents?

Thank you for taking the time to read this, and any advice would be genuinely appreciated, even if it to say I have no grounds etc., I know it was a long time ago, but this is something I live with every day. If I could claim for even part of it then I might be able to put together enough to pay the reduced amount that the debt people say they would accept as full repayment.

David x

marshallka

Pantheon wrote: »

Hi everybody.

I posted this yeterday on the loan forum, but have been asked to paste it here,so hopefully this works!.


Hello everybody, I would appreciate any advice that you could give me about a loan, and PPI, taken out with LloydsTSB, in late 2001.

It’s a long-winded one, really sorry, but I’ve split it in two to try and make sense of it. First the history, and then the points I’m hoping somebody might be able to help me with. Thank you in advance. Please be nice to me, I’m new here.

Ok, deep breath, just talking about this time in my life upsets me.
Single man, I had a bank loan, but it was not a problem. I had no mortgage, no car, no dependents, and managed my money well, the repayments were well within my means. Then sometime in early 2001 that all changed. My mental health deteriorated to eventually the point where I just did not leave the house. I managed to keep up my repayments until my employer, of course, stopped paying me my SSP. Along with this, I was also showing one of the symptoms of depression, erratic overspending, and a huge increase in alcohol consumption. By late 2001 my mind had un-ravelled and the stuff hit the fan. (This is a very brief summary, I hope it doesn’t sound flippant, but it’s a lot more complicated than solely a mental health illness, I was eventually diagnosed with thyroid disease.)

I made an appointment to see my bank manager at the local Lloyds branch, to explain the situation, as I was at this point penniless and buying groceries on my credit card. I explained everything to her including that I was no longer able to make my loan repayments. I asked her for advice, and somehow, within minutes I had a new loan complete with PPI, paying off the existing one, and a little extra on top to keep me going. Needless to say, I could not go back to work, and not long after this, my family literally jumped in and rescued me from what was a very dangerous situation. I lost my job, my flat, my friends, and was still thousands of pounds in debt, with no way of paying it back. I was told that I could not use the PPI because it was an existing medical condition

Now, I could easily have walked away from this, Lloyds had no idea where I was, but it was my debt, and I take responsibility for that. So, almost eight years later, still ill, I have been paying back to a debt recovery agency every month, and yet still owe over £1500 more than the original loan was for. I think this is probably due to non-payment charges etc.

Again, I’m sorry for rambling, I just wanted to tell my story to see if my questions are relevant.

The advice I’m looking for is for the following questions:

• At the time of my meeting with the bank manager, would my PPI on the original loan have been activated after not having been able to work for six months?
• Would I have any grounds to claim that the PPI sold to me for the loan was irresponsible?, especially as she was aware of my medical condition.
• Would I have any grounds to claim that the loan itself was irresponsible?, again due to my medical condition.
• Am I able to claim back for the charges added to my loan and credit card debts?
• If I am able to claim, who would I claim from, the bank or the lovely debt recovery agents?

Thank you for taking the time to read this, and any advice would be genuinely appreciated, even if it to say I have no grounds etc., I know it was a long time ago, but this is something I live with every day. If I could claim for even part of it then I might be able to put together enough to pay the reduced amount that the debt people say they would accept as full repayment.

David x

Hi David,

FIrst of all you will get better and more able to deal with this situation in time but do you feel well enough to do it now??

With regards to the PPI on the second loan that was to pay the first loan I would definately say that the PPI was missold but probably not due to existing conditions alone. You were actually unemployed and had been for 6 months. Also tell them that this loan was to refinance another loan with them and at that time you had been unemployed for 6 months and also could not make a claim. You now need to get the first template letter in for the misselling and add/delete as many reasons as you can why this was missold to you. You then have to give them 8 weeks for a full and final response. Send all letter recorded delivery and keep the proof of posting too and make a note of when the 8 weeks is up on the calendar. They usually write back in the first instance and say they have done nothing wrong but that is just a standard fob off. You then write again and reiterate your complaint. They either give in or let you then have a final response and offer you to take your complaint to the FOS.

I really don't know how to pursue the loan actually being missold in the first place to you.

I really hope you get back on track David. This may be the break you need. Good luck.

edit, Did you put a claim in the PPI on the first loan when you had been out of work for 6 months and if not why??

Also you make the PPI claim agains the bank that ACTUALLY SOLD you the PPI. If you could not claim on any of these then they were both missold and completely useless to you.

ALso with regards to CHARGES on credit cards - are you on about PPI or bank charges...If it is bank charges then there is a fourm on here that will tell you how to go about this.

di3004

Pantheon wrote: »

Hi everybody.

I posted this yeterday on the loan forum, but have been asked to paste it here,so hopefully this works!.


Hello everybody, I would appreciate any advice that you could give me about a loan, and PPI, taken out with LloydsTSB, in late 2001.

It’s a long-winded one, really sorry, but I’ve split it in two to try and make sense of it. First the history, and then the points I’m hoping somebody might be able to help me with. Thank you in advance. Please be nice to me, I’m new here.

Ok, deep breath, just talking about this time in my life upsets me.
Single man, I had a bank loan, but it was not a problem. I had no mortgage, no car, no dependents, and managed my money well, the repayments were well within my means. Then sometime in early 2001 that all changed. My mental health deteriorated to eventually the point where I just did not leave the house. I managed to keep up my repayments until my employer, of course, stopped paying me my SSP. Along with this, I was also showing one of the symptoms of depression, erratic overspending, and a huge increase in alcohol consumption. By late 2001 my mind had un-ravelled and the stuff hit the fan. (This is a very brief summary, I hope it doesn’t sound flippant, but it’s a lot more complicated than solely a mental health illness, I was eventually diagnosed with thyroid disease.)

I made an appointment to see my bank manager at the local Lloyds branch, to explain the situation, as I was at this point penniless and buying groceries on my credit card. I explained everything to her including that I was no longer able to make my loan repayments. I asked her for advice, and somehow, within minutes I had a new loan complete with PPI, paying off the existing one, and a little extra on top to keep me going. Needless to say, I could not go back to work, and not long after this, my family literally jumped in and rescued me from what was a very dangerous situation. I lost my job, my flat, my friends, and was still thousands of pounds in debt, with no way of paying it back. I was told that I could not use the PPI because it was an existing medical condition

Now, I could easily have walked away from this, Lloyds had no idea where I was, but it was my debt, and I take responsibility for that. So, almost eight years later, still ill, I have been paying back to a debt recovery agency every month, and yet still owe over £1500 more than the original loan was for. I think this is probably due to non-payment charges etc.

Again, I’m sorry for rambling, I just wanted to tell my story to see if my questions are relevant.

The advice I’m looking for is for the following questions:

• At the time of my meeting with the bank manager, would my PPI on the original loan have been activated after not having been able to work for six months?
• Would I have any grounds to claim that the PPI sold to me for the loan was irresponsible?, especially as she was aware of my medical condition.
• Would I have any grounds to claim that the loan itself was irresponsible?, again due to my medical condition.
• Am I able to claim back for the charges added to my loan and credit card debts?
• If I am able to claim, who would I claim from, the bank or the lovely debt recovery agents?

Thank you for taking the time to read this, and any advice would be genuinely appreciated, even if it to say I have no grounds etc., I know it was a long time ago, but this is something I live with every day. If I could claim for even part of it then I might be able to put together enough to pay the reduced amount that the debt people say they would accept as full repayment.

David x

Hi there David, good to see you here.

While I am here I will add you a link which will give you more of an idea by adding some links for you.

Meanwhile I am sure Marshallka will post shortly too if you require further advice on this matter, but if you think you have been mis sold I would definately get a letter in to try and reclaim on this.
Check out this link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Also on that link you will also come across a letter reclaiming template which you can use to help you, but add your own reasons and keep the letter strong.
They have 8 weeks to get back to you, and if this is not successful, another letter will have to be sent to ask them to reconsider or you will take your complaint to the financial ombudsman service.

If you require any further details Dave, please yell anytime, but I do think you have a case here and if you do not try you will never know.;)

Good luck and please keep us posted. Thanks.

Di.

I see Marshallka has already posted and beat me to it anyway lol, good luck !
And like Marshallka has also said, make your you feel well enough to do this too, I wish you well and for you to get through all this. xx
x

di3004

No reply yet from my adjudicator, don't think it will be today, maybe next week now, although I should give him a chance shouldn't I ?
As its only been a few weeks......:o

marshallka

di3004 wrote: »

No reply yet from my adjudicator, don't think it will be today, maybe next week now, although I should give him a chance shouldn't I ?
As its only been a few weeks......:o

How many weeks is a few weeks. I have had mine with the adjudicator now about 6+ weeks or maybe just 6 weeks. I only got an update yesterday but then again mine was ill.

di3004

marshallka wrote: »

How many weeks is a few weeks. I have had mine with the adjudicator now about 6+ weeks or maybe just 6 weeks. I only got an update yesterday but then again mine was ill.

It will be coming on to a month since the adjudicator rang me to tell me he is dealing with my complaint, but the week before he said had requested some information from Lloyds, so its probably been with him for about 5 weeks then.
Hope mine isn't ill........:rolleyes: , saying that if they are not available don't you normally receive an automated reponse, if they are not in office sort of thing ?