PPI Reclaiming discussion Part II

di3004

marshallka wrote: »

Just write this

I took out a loan account with you on *****. I realised that PPI has been added to this and I want to cancel this as in my rights to do so within the 30 days. I understand that this will result in a full cancellation and that no charges will be made for this either now or in the future. I have sent this letter by recorded delivery as a proof of my telling you to do this. Please confirm this to me by return of post.

Yours sincerely

Sorry hun, I did not see you had already replied to this......:o , apologies and yours is better than mine.....:D :T . lol

snook66

Help please ...some advice needed here, I live in Scotland so maybe there are slightly different laws or timescales... I tried in vain to reclaim my PPI bacl on my credit card from HBOS, and their last letter was sent out to me in February saying that their final response was declining my claim ... after this I felt deflated and thought that was that and i couldnt do anything else, however have decided to give it another shot as I can't let them win, when I phoned the claims line again today, their response was it was too late to go to the FOS as i should have done it within six months of their final response letter... looked at some info on the FOS website and it looks that way too, however,can I still try by going down the court route, as I feel my case is a strong one ??? Any help greatly received thanks... the snook

di3004

snook66 wrote: »

Help please ...some advice needed here, I live in Scotland so maybe there are slightly different laws or timescales... I tried in vain to reclaim my PPI bacl on my credit card from HBOS, and their last letter was sent out to me in February saying that their final response was declining my claim ... after this I felt deflated and thought that was that and i couldnt do anything else, however have decided to give it another shot as I can't let them win, when I phoned the claims line again today, their response was it was too late to go to the FOS as i should have done it within six months of their final response letter... looked at some info on the FOS website and it looks that way too, however,can I still try by going down the court route, as I feel my case is a strong one ??? Any help greatly received thanks... the snook

Hi there Snook
I am sure one of us can check out the rulings here of timescales etc.

I think you would have to have this as a brand new complaint to the loan firm, because to take to the financial ombudsman in Wales and England I know there is a time limit of 6 months since the final response as you know.

We will check on this and come back hun.
And like you said there is always the court option.

Will get back as soon as I find further info on this as I do not want to give you the wrong info here, or maybe someone will beat me to it.;)

Cheers
Di.

cot1198

Hello all

as expected Ocean have sent their second response letter saying bog off as it was my decision to go ahead with the loan and PPI. So it's off to the FOS with them and months and months of waiting

still waiting for ocean to get back to me on the GE Money one, although I'm expecting that one going the same way as the nemo one

marshallka

cot1198 wrote: »

Hello all

as expected Ocean have sent their second response letter saying bog off as it was my decision to go ahead with the loan and PPI. So it's off to the FOS with them and months and months of waiting

still waiting for ocean to get back to me on the GE Money one, although I'm expecting that one going the same way as the nemo one

Good luck then with the FOS.

maxdp

cot1198 wrote: »

Hello all

as expected Ocean have sent their second response letter saying bog off as it was my decision to go ahead with the loan and PPI. So it's off to the FOS with them and months and months of waiting

still waiting for ocean to get back to me on the GE Money one, although I'm expecting that one going the same way as the nemo one

Sorry to hear that Cot.

Lets hope that you do not have to wait tooooo long at FOS it is very frustrating. I had my complaint upheld in April and it still has not been settled:mad:

finance-boy

Hi everybody!

I posted my story in another thread ( http://forums.moneysavingexpert.com/showthread.html?p=15191029 ), but it's very long so I'll summarise it here.


My mum has been paying around £135 per month for 3 seperate PPI policies.

• Around £30/month for her Egg credit card PPI since 2002
• Around £55/month for her Halifax credit card PPI since about 2006
• £48.59/month for "loan protection insurance" on a loan from Lloyds TSB (since 2005)

When I realised how much she'd been paying for this rip-off insurance, I made her cancel them immediately. She's now cancelled the Egg and Halifax PPI policies (pending a 30-day "notice period" :mad:), but when she tried to cancel the PPI on her loan (£48.59/month), they said that she would have to take out another loan (this time without PPI) which would only save her about £18 per month. This cannot be fair, surely. I've included her loan statement below.



What she actually wants is to stop paying the £48.59/month for PPI (LPI). That seems pretty fair to me, especially considering that it was charged at 27% (!!!) of the original loan amount and that it's been accumulating interest in addition to the interest charged on the loan!!! But the woman at Lloyds TSB said "It's not a separate loan: the figures for the 'Cash Loan' and the 'Loan for LPI' don't really exist - only the Total Loan amount exists" :mad:

It makes me so mad. My mum actually does remember taking this policy out (unlike the Egg and Halifax policies, which she has no recollection of), but said that she wasn't given an option to take-out the loan without LPI/PPI. She said that the salesman was kind of like "... aaaaaand with the payment protection that comes to [tap tap tap] £12,777.93" and she didn't want to ask for the loan without PPI because she assumed it was compulsory and that she wouldn't get the loan without it. He never actually asked her if she wanted PPI/LPI.

Regarding the Egg and Halifax PPI policies, well she can only plead ignorance on those. She never checks her Egg statement (it's online and she doesn't have a computer) and she never noticed the £55/month that Halifax was charging her (she was probably too scared to ever look at her statement in detail since her finances are so abysmal). And she's really not very bright.

So is there any chance she can claim back these fees? She honestly had no idea that she had PPI on her Egg and Halifax cards. In fact, she's been made redundant twice (she has redundancy notices to prove it) since taking-out the Egg PPI in 2002 and hasn't claimed on her policy.

However, while I believe that she didn't know about her PPI cover, I find it hard to believe that it was added to BOTH her credit cards without her consent. It seems most likely that she agreed to it without knowing how much it would cost, and subsequently forgot all about it. Or maybe she thought it was compulsory.

But in her defence, I recently applied for a Barclaycard and received this notice along with the card:

When you applied for your card you indicated that you would like to be covered by one of our card related insurance products, but unfortunately you did not fully complete the insurance fields on the credit agreement that you returned to us.

This means that you are not currently insured.

Now, I ALWAYS decline any offer of card protection, since I know it's a complete rip-off, so I suppose this shows how easy it could be to sign-up by accident.

So what do you guys think? Do you think she has a claim?

di3004

cot1198 wrote: »

Hello all

as expected Ocean have sent their second response letter saying bog off as it was my decision to go ahead with the loan and PPI. So it's off to the FOS with them and months and months of waiting

still waiting for ocean to get back to me on the GE Money one, although I'm expecting that one going the same way as the nemo one

Fingers crossed cot1198
Hope it all goes your way.:A .

Di.
x

di3004

finance-boy wrote: »

Hi everybody!

I posted my story in another thread ( http://forums.moneysavingexpert.com/showthread.html?p=15191029 ), but it's very long so I'll summarise it here.


My mum has been paying around £135 per month for 3 seperate PPI policies.

• Around £30/month for her Egg credit card PPI since 2002
• Around £55/month for her Halifax credit card PPI since about 2006
• £48.59/month for "loan protection insurance" on a loan from Lloyds TSB (since 2005)

When I realised how much she'd been paying for this rip-off insurance, I made her cancel them immediately. She's now cancelled the Egg and Halifax PPI policies (pending a 30-day "notice period" :mad:), but when she tried to cancel the PPI on her loan (£48.59/month), they said that she would have to take out another loan (this time without PPI) which would only save her about £18 per month. This cannot be fair, surely. I've included her loan statement below.



What she actually wants is to stop paying the £48.59/month for PPI (LPI). That seems pretty fair to me, especially considering that it was charged at 27% (!!!) of the original loan amount and that it's been accumulating interest in addition to the interest charged on the loan!!! But the woman at Lloyds TSB said "It's not a separate loan: the figures for the 'Cash Loan' and the 'Loan for LPI' don't really exist - only the Total Loan amount exists" :mad:

It makes me so mad. My mum actually does remember taking this policy out (unlike the Egg and Halifax policies, which she has no recollection of), but said that she wasn't given an option to take-out the loan without LPI/PPI. She said that the salesman was kind of like "... aaaaaand with the payment protection that comes to [tap tap tap] £12,777.93" and she didn't want to ask for the loan without PPI because she assumed it was compulsory and that she wouldn't get the loan without it. He never actually asked her if she wanted PPI/LPI.

Regarding the Egg and Halifax PPI policies, well she can only plead ignorance on those. She never checks her Egg statement (it's online and she doesn't have a computer) and she never noticed the £55/month that Halifax was charging her (she was probably too scared to ever look at her statement in detail since her finances are so abysmal). And she's really not very bright.

So is there any chance she can claim back these fees? She honestly had no idea that she had PPI on her Egg and Halifax cards. In fact, she's been made redundant twice (she has redundancy notices to prove it) since taking-out the Egg PPI in 2002 and hasn't claimed on her policy.

However, while I believe that she didn't know about her PPI cover, I find it hard to believe that it was added to BOTH her credit cards without her consent. It seems most likely that she agreed to it without knowing how much it would cost, and subsequently forgot all about it. Or maybe she thought it was compulsory.

But in her defence, I recently applied for a Barclaycard and received this notice along with the card:

Now, I ALWAYS decline any offer of card protection, since I know it's a complete rip-off, so I suppose this shows how easy it could be to sign-up by accident.

So what do you guys think? Do you think she has a claim?

Hi there
Good to see you here.

Yes your mum seems to have a claim here with these and should get some letters in to try reclaiming on these.

I will post up the template in a min for you to help you through this.;)

I bet even though when declining the ppi they still try to pressurise you, am I correct ?;)

I will edit and come back with the template link for you.

As promised, if you have not saved this already, here is the link to the template:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

They have 8 weeks to respond, if unsuccessful with the first response, more letters can be sent for them to reconsider, then your mum will receive the final decision-response, if the worst comes to the worst they can be complained then to the financial ombudsman service, fingers crossed though your mum will win back all her money in one go.

Post all letters by recorded delivery. Good luck !

Di.
x

marshallka

snook66 wrote: »

Help please ...some advice needed here, I live in Scotland so maybe there are slightly different laws or timescales... I tried in vain to reclaim my PPI bacl on my credit card from HBOS, and their last letter was sent out to me in February saying that their final response was declining my claim ... after this I felt deflated and thought that was that and i couldnt do anything else, however have decided to give it another shot as I can't let them win, when I phoned the claims line again today, their response was it was too late to go to the FOS as i should have done it within six months of their final response letter... looked at some info on the FOS website and it looks that way too, however,can I still try by going down the court route, as I feel my case is a strong one ??? Any help greatly received thanks... the snook

You can go down the court route at any time. I don't know about the time scales on the limitations act and whether it is different in scotland.

A good piece for you to look through about the statute of limitations is below

http://216.239.59.104/search?q=cache:viHqHCjZd8UJ:www.techinfonet.ac.uk/partnerships/records-retention-he/hei-pla-guidance+limitations+act+scotland&hl=en&ct=clnk&cd=9&gl=uk


When was this loan taken out exactly??