PPI Reclaiming discussion Part II

dreamer33

Just found this website:

http://www.thisismoney.co.uk

Reclaim your PPI premiums

Ed Monk, This is Money

Created January 2007 | Last updated:
28 May 2008, 1:13pm Reader comments (97) | Blog

This is Money has campaigned against the widepsread mis-selling of payment protection insurance (PPI) since 2006 (this guide is updated every time there's a development). Read it to find out if you can reclaim premiums worth thousands of pounds and help your friends by sending on this guide...




• Stories from people who TiM helped reclaim bank charges
• Some of our PPI victories
• Your PPI claim success stories
• Could you reclaim? Take our quick test to find out


Can I reclaim on any PPI policy?
Your claim for compensation is dependent on when you took the insurance. PPI sales only came under the jurisdiction of the FSA in January 2005. Any sales made before then are not covered by the latest rules.
However, it may still be worth complaining to your lender if you feel you have been mis-sold. If you bought before January 2005 it is likely that they will have been covered by a previous regime of rules. This means that the Financial Ombudsman Service will be able to consider these complaints. If you took PPI after January 2005, your claim is subject to the latest rules.

dreamer33

Debt, budgeting, loans and credit cards
13 repliesPayment Protection refunded !!!
Posted by: monkey_butt on 15/03/05 at 06:27 PM
All,

Thought I would post this in the hope that the message will be passed around how unscrupulous some loan companies are ( no surprises there ... ) and hopefully someone else will benefit.

I took out a secured loan approx 18 mths ago which I have recently settled. Having given the final paperwork a cursory glance I noticed the Payment protection insurance had been added to the total loan amount and therefore included in the settlememt figure.

I rang the company ( First National ) and asked why this was included in the settlement figure as I hadn't received it. After some umming and aahing they agreed that I could claim on a proportion of the policy if I sent them a letter stating that I had not claimed on the policy and wished to cancel it.

To my surprise I received a cheque for £3.5K last week, fantastic and has paid for my family holiday this year ( false economy I know but .... ).

I am amazed that this can be allowed to continue without publicity, how many people are aware that the settlement figure is 3-5 K over what it should be, absolutely scandalous and it means that for every loan settled early they are creaming off an extra few thousand for no effort ( apart from not informing you of your rights ).

I am guessing this is barely legal as you continue to have the 'benefit' of PP insurance for another 5 years, although this is probably only valid for the already settled loan !!!

Anyway that's off my chest and I hope that at least 1 person reads this and gets their money back from the money grabbing parasites

di3004

dreamer33 wrote: »

Just found this website:

http://www.thisismoney.co.uk

Reclaim your PPI premiums

Ed Monk, This is Money

Created January 2007 | Last updated:
28 May 2008, 1:13pm Reader comments (97) | Blog

This is Money has campaigned against the widepsread mis-selling of payment protection insurance (PPI) since 2006 (this guide is updated every time there's a development). Read it to find out if you can reclaim premiums worth thousands of pounds and help your friends by sending on this guide...




• Stories from people who TiM helped reclaim bank charges
• Some of our PPI victories
• Your PPI claim success stories
• Could you reclaim? Take our quick test to find out


Can I reclaim on any PPI policy?
Your claim for compensation is dependent on when you took the insurance. PPI sales only came under the jurisdiction of the FSA in January 2005. Any sales made before then are not covered by the latest rules.
However, it may still be worth complaining to your lender if you feel you have been mis-sold. If you bought before January 2005 it is likely that they will have been covered by a previous regime of rules. This means that the Financial Ombudsman Service will be able to consider these complaints. If you took PPI after January 2005, your claim is subject to the latest rules.

Thank you Dreamer.;)

I also have a story or two in "This is money" added about 2 years ago.:D

Hope you find it.;)

Give me a min and I will try to find it and post on here.;)

di3004

dreamer33 wrote: »

Debt, budgeting, loans and credit cards
13 repliesPayment Protection refunded !!!
Posted by: monkey_butt on 15/03/05 at 06:27 PM
All,

Thought I would post this in the hope that the message will be passed around how unscrupulous some loan companies are ( no surprises there ... ) and hopefully someone else will benefit.

I took out a secured loan approx 18 mths ago which I have recently settled. Having given the final paperwork a cursory glance I noticed the Payment protection insurance had been added to the total loan amount and therefore included in the settlememt figure.

I rang the company ( First National ) and asked why this was included in the settlement figure as I hadn't received it. After some umming and aahing they agreed that I could claim on a proportion of the policy if I sent them a letter stating that I had not claimed on the policy and wished to cancel it.

To my surprise I received a cheque for £3.5K last week, fantastic and has paid for my family holiday this year ( false economy I know but .... ).

I am amazed that this can be allowed to continue without publicity, how many people are aware that the settlement figure is 3-5 K over what it should be, absolutely scandalous and it means that for every loan settled early they are creaming off an extra few thousand for no effort ( apart from not informing you of your rights ).

I am guessing this is barely legal as you continue to have the 'benefit' of PP insurance for another 5 years, although this is probably only valid for the already settled loan !!!

Anyway that's off my chest and I hope that at least 1 person reads this and gets their money back from the money grabbing parasites

Brilliant news that.....:T , good for you hunni and well done !:beer: :j .

dreamer33

di3004 wrote: »

Brilliant news that.....:T , good for you hunni and well done !:beer: :j .

Sorry it wasn't me it was a post I found on the website. I hope I am in that situation one day fingers crossed.

di3004

Here is my story, it was 2 years ago lol.

"Too late for millions"


http://www.thisismoney.co.uk/campaigns/loansinsu/article.html?in_article_id=413869&in_page_id=506

di3004

dreamer33 wrote: »

Sorry it wasn't me it was a post I found on the website. I hope I am in that situation one day fingers crossed.

Lol, oops sorry.......:o , I briefly read it and could see success lol.....:D , good that people are winning back their claims and very sad for the ones who have to fight for the same reason and being not regulated/covered is behind that, and I think if these loan firms were all covered then, there would defo be more successes.;)

(I am going through the posts very quickly - as my sister is due anytime), sorry to have mis read and my fingers are crossed for you with yours.;)

Di.
x

dreamer33

di3004 wrote: »

Lol, oops sorry.......:o , I briefly read it and could see success lol.....:D , good that people are winning back their claims and very sad for the ones who have to fight for the same reason and being not regulated/covered is behind that, and I think if these loan firms were all covered then, there would defo be more successes.;)

(I am going through the posts very quickly - as my sister is due anytime), sorry to have mis read and my fingers are crossed for you with yours.;)

Di.
x

lol its okay.

I know what you mean I have wrote to all the regulating bodies to ask this very question.

Here it is "

PPI mis-selling

I write with regards to Payment Protection Insurance and that I have complained to Freedom Finance about, to no avail, due to the fact that we feel we have been mis-sold the PPI.
Although the loan was taken out in 2004 and the fact that they were not regulated, I know you may not be able to help, however wanted to bring this to your attention. I also believe even though they were not regulated that I should have the right to have my complaint investigated fairly under the Human rights act 1998.
I do not think it to be fair that anyone with a loan taken out in 2005 should be treated any different to a person taking a loan out in 2004, even though Freedom Finance were not regulated in 2004. I know of people who were covered by the relevant regulating body and have received funds back due to the mis-selling of PPI, but what protection is there for the people prior to 2005. It does not seem just".

di3004

dreamer33 wrote: »

lol its okay.

I know what you mean I have wrote to all the regulating bodies to ask this very question.

Here it is "

PPI mis-selling

I write with regards to Payment Protection Insurance and that I have complained to Freedom Finance about, to no avail, due to the fact that we feel we have been mis-sold the PPI.
Although the loan was taken out in 2004 and the fact that they were not regulated, I know you may not be able to help, however wanted to bring this to your attention. I also believe even though they were not regulated that I should have the right to have my complaint investigated fairly under the Human rights act 1998.
I do not think it to be fair that anyone with a loan taken out in 2005 should be treated any different to a person taking a loan out in 2004, even though Freedom Finance were not regulated in 2004. I know of people who were covered by the relevant regulating body and have received funds back due to the mis-selling of PPI, but what protection is there for the people prior to 2005. It does not seem just".

Wow, well done for you doing this.:T

Have you received any response for doing this?

di3004

Do you know what Dreamer and I know Marshallka will approve of this too, but if we all done something and all wrote something to these regulators, maybe the more the better would be good, I know there would be thousands on here that would back this up.

Marshallka if your reading this hun, what do you think ?

What if we all write to these regulators to help push the boat a bit here due to Dreamer's post above ?

Or some sort of petition, I am not sure how to go about this but there must be a way, and for us to sign?????

For example write to the

FSA
OFT
FISA
FLA

And so on, this needs to be recognised, and I am also a member on other sites, like some others here and the more we can get to do this the better, what do you think ?