PPI Reclaiming discussion Part II

gamekeeperturnedpoacher

Sorry forget that still have my claims head on, it will be from the point of settlement i.e. when the contract ended.

marshallka wrote: »

You say 6 years. Is this from point of sale or from point of settlement. ???

gamekeeperturnedpoacher

Yes it can 100%! This is the rule most insurance companies will use.

marshallka wrote: »

A legal question here for anyone that can answer.

Can the rule of 78 be used on an insurance product?

gamekeeperturnedpoacher

Yes, they should adjust your loan down by the monthly PPI premium you were paying so determine your monthly PPI divide and deduct that amount from your current loan repayment and that is your new payment.

marcus79 wrote: »

WOHOOOOO
but still unsure.

Reclaiming: ppi from 3 loans
Provider: HSBC
How much get back: £4,578.08p

sent the first letter of which got a letter back 3 weeks later saying they are looking into the matter, phoned them up after the 40 day periode saying I was on verge of sending 2nd letter but they explainned on phone there is a long backlog of ppi claims and to just wait a week or 2.

Got back from a real crap day at work to find letter from hsbc saying' in order to find this matter has not disadvantaged you in anyway we propose to offer you a total amount of 4,578.08'

so im very pleased, but im slightly concerned also, coz obviously they refunding what we paid so far to date, but if they put the total ppi on top of the loan doe's this mean they have to recalculate the loan also which should bring the cost of my original loan down also?

Kaia_2

gamekeeperturnedpoacher wrote: »

Hi, I received an offer from Abbey today refunding all my premiums plus interest, £3k. However, this was not because they refused to cancel my PPI 18 months ago unless I took out a new loan... it was because I took the loan out over the internet which the complaint handler is saying was a 'Non Advised Sale'. Will provide more detail on what was said over the next day or so but this may help others who obtained loans over the internet?

Well happy!

Hey, really pleased for you....WELL DONE GK :T :T :T :T :T

Kaia_2

gamekeeperturnedpoacher wrote: »

Hi Kaia, I was Pinnacle's General Manager of Claims, there for 8 years pretty much from the start, they are based just round the corner from where I live. Obviously does not help the case but thought hey mention it.

Given the bad press PPI continues to receive the lenders and the insurers are being very cautious. Approaching reclaim issues from a miss-sale perspective will make them very nervous and guarded so if there is another angle to use in the first instance, in my view do that first, of course let them know that there is a potential miss sale issue at the same time and if your initial argument fails then bring the miss sale in to play.

With regard to time limits on pursuing complaints, the legal time frame is 6 years so any action after that legally will be thrown out, I believe the regulator will adopt that view also, there has to be a cut off point however, if the complaint was made prior to the cut off point then I believe it can continue to be pursued.

Sorry I have not read all the thread but am interested to know why, as a self employed person, a claim would not be paid? What is excluding this in the policy terms?

Hi GK...
Yes my policy was underwritten by Pinnacle I believe, I have never made a claim on the policy,which was 5 years cover over a 16 year loan.( Loan is still current)
My hubby is in employment and I was not so we had been sold single cover plus ....meaning he was covered and I was covered only for life.

Kaia_2

marcus79 wrote: »

WOHOOOOO
but still unsure.

Reclaiming: ppi from 3 loans
Provider: HSBC
How much get back: £4,578.08p

sent the first letter of which got a letter back 3 weeks later saying they are looking into the matter, phoned them up after the 40 day periode saying I was on verge of sending 2nd letter but they explainned on phone there is a long backlog of ppi claims and to just wait a week or 2.

Got back from a real crap day at work to find letter from hsbc saying' in order to find this matter has not disadvantaged you in anyway we propose to offer you a total amount of 4,578.08'

so im very pleased, but im slightly concerned also, coz obviously they refunding what we paid so far to date, but if they put the total ppi on top of the loan doe's this mean they have to recalculate the loan also which should bring the cost of my original loan down also?

Well done....!!!!! :T :T :T :T :T
Have you checked that they ARE paying it back to you and NOT taking it off your loan??

sparky0107

Morning All,
I'm helping my brother reclaim PPI, he's received his original credit agreement back from Beneficial, he signed the papers in the office of Beneficial, told the person sorting the loan he didn't want PPI, upon receiving his agreement back Beneficial have circled the PPI box, which is ticked. My brother gets full sickness pay for 2 years if he's off work, also 2 years death in service benefit, so he would'nt need PPI. Can he still go for mis-selling of PPI?
Hope you can help

Laini

ANY_CHANCE wrote: »

Helloooo Laini

Did you have a broker sell you the first plus loan hun or was it directly with fp? ( i forget !!as usual;) )

We think it was FP but on our SAR it said britannia loans but no commision paid
have you got your SAR yet. I would wait for that to see whats on your file

see ya later

Laini xxx:j:j

alleybabes

Hi its been two weeks now since hfc banks have applied to put my judgement
aside,i havnt heard a thing i have rung up the court but they are not aloud to tell you anything,the man said its up to the court to decide whether they can do it or not,its so unfair that i thought id won,it also says you dont need a solictor in a small claims but they still have one,one rule for them! just want some advice please if anyone has been in that situation thanx

m.colak

alleybabes wrote: »

Hi its been two weeks now since hfc banks have applied to put my judgement
aside,i havnt heard a thing i have rung up the court but they are not aloud to tell you anything,the man said its up to the court to decide whether they can do it or not,its so unfair that i thought id won,it also says you dont need a solictor in a small claims but they still have one,one rule for them! just want some advice please if anyone has been in that situation thanx

Hi don't panic the next thing you will get is a hearing date for the appeal (thats what it is - nothing more). They will get a chance to state their case and why they should be allowed to get the judgement set aside and then you will have you say. Just remember if the judge lets it go back to court and again they don't file a defense then you can claim more interest until the case is settled. I will say one thing though make sure you get all the information about how you have been put out by having to attend court for the appeal's hearing (ie cost of travel, daily rate of pay etc and include the documentation whats substanuates the information) request that a side order is include reuest additional costs for having to attend the hearing. If the judge awards the stay then ask the judge if you can ask for additional information from the company, he should indicate you can under CPR 18. If not then i'm letting you know you can but in reality you want him to suggest it. Then start hitting the company for requests for information about the person whom sold you the product etc (as much as you can feasibly determine relates to your case including if only loosely). All i'm saying is keep your head up you will beat them in the end it will just take a little longer.