PPI Reclaiming discussion Part II

louise0910

Hi, i've applied for a refund of my ppi from loans.co.uk, mfi and egg. So far i've just been told to go away by them all as i had signed for it and therefore new what i was getting in to.

With the MFI one i was just told how much my payments would be for the credit and to 'sign here', which i did stupidly. There was no mention of ppi or a quote without it but the insurance company won't acknowedge this.

Loans.co.uk sold us ppi on a loan, which we repayed 6 months later as we got a better deal elsewhere but we were still made to pay for the whole ppi + interest. They have also said that we knew what we were buying.

Egg have basically said that we applied over the internet so it was our decision to take it out. To be fair the original application was done on their site but they called us and made us do the application over the phone before they would accept us. We have recently found out that my husband would not have been covered anyway because he's self-employed but they won't acknowledge this at all. I asked to cancel the policy, to be told that here is no point because we had already paid as it is paid off before any of the loan.

I have now sent forms off to the FOS. Can anyone give me some advice on whether they think we have a chance of claiming back this money and how long the ombudsman is taking to investigate at the moment.

Has anyone had a success with any of these companies?

YEOSAL

Hi all
Just returned from two weeks away and trying to catch up with reading the posts. Gonna take some time by the look of it!!

I have recevied a court date for LLoyds TSB for 26th June so now panicking as I did not think it would be so soon. Got to get my documents together and sent off by next Wednesday.

If possible, some advice would be welcome on my list of documents below.
Copy of loan agreement and terms and conditions
All letters of correspondence with LLoyds TSB
Copy of Misrepresentation Act 1967
Banking code of conduct (applicable in 2000)
Limitation Act 1980 (one case I found Vincent Cunningham v Friends Provident - relates to an endowment case, but I thought it might be useful)
Quote for alternative PPI cover (to be obtained online)
OFT - 8th Dec 2005 - Super complaint for PPI Selling
Copies of my tax return (to show continuous income)?
Doctors letter confirming date of broken leg and hernia op (this to show that I could have claimed if I knew about policy)

Any comments or recommendations would be great. If anyone has any court cases that I could quote would be great!

Lombard Direct now put in defence, but I may apply for a stay or cancel it as have made big mistake I think. Got a few days in which to sort that out so had better get one thing done at a time.

I am wondering how come a large number of people got success with reclaiming so easily, sometimes with only one letter. I am feeling really pessimistic about this now.

Sally

Laini

clairey22 wrote: »

Hi all, I hope someone can advise me what to do next with my PPI claim for Lloyds.

Basically I took out a loan in 1998 which had PPI added to the total amount of credit. The PPI was 1221.1. This loan was consolidated into another loan later in the year and more PPI was added to the total amount for this loan for This PPI was 1836.18. I was not refunded any PPI from the earlier loan.

I have written two letters to Lloyds insurance using the templates on the site and first they said I was not within the time limit (incorrect as my last payment was within 6 years and I have only found out that I was mis-sold recently) in their last letter they have commented on my points that I was not asked about pre-existing medical conditions and the fact I was soon to be self employed.

They have glossed over my main complaints (that the insurance was compulsary and that the ppi was added to the loan) these points were apparently addressed in their previous letter (where they just said I wasn't within the time limit).

I am not sure what to do now. Shall I raise it with the FO? or shall I try one last letter to lloyds?

Has anyone got any tips for the letter?

I want to make the points that:

I wasn't told the insurance was optional
The insurance was added to the loan as a lump sum
the first insurance premium wasnt refunded when I took out the 2nd loan

I want to put the legal reasons why these are not allowed.

Also one of my letters said I had 30 days to cancel but the latest letter said their was no cooling off period for loans before 2002, so it sounds like they are confused themselves!

If anyone could give me any tips for my final letter to lloyds I would be really greatful.

Thanks in advance
Claire

have they sent their final response cos if its not the FOS wont deal with it until you have that in writing
have you sent a SAR
I know I always ask this but I found this is worth its weight in gold for me cos I didnt have to go hunting around the loft for paperwork and it shows up all info on the account with dates of all correspondence.
Laini xx

Laini

POST HAS BEEN AND STILL NO LETTER!!!!!:mad::mad::mad::mad::mad::mad::mad:

marshallka

Laini wrote: »

POST HAS BEEN AND STILL NO LETTER!!!!!:mad::mad::mad::mad::mad::mad::mad:

Have you contacted the FOS again Laini....or Firstplus.

Laini

marshallka wrote: »

Have you contacted the FOS again Laini....or Firstplus.

the letter from FOS the other day said give them 4 weeks if no joy contact him.
will be grey or have no hair by then.
I am as impatient as everyone
it would be different if I owed them it.
yours cheesed off
Laini xx(just having a bad day thats all):mad:

Kaia_2

m.colak wrote: »

Kaia,

Can you tell me your details and will check figures for you with the sheet. (Just to make sure the settlement figure is what you should be expecting;) )

Don't need the information now except when your payments changed and how much each time but either way am starting to confuse myself? If you are reclaiming the PPI as mis sold then there are two scenerio's:

1. Wasn't a front loaded policy in which case:
PPI Paid to Date £758
PPI Paid Interest to Date £844.33
8% Stat Interest on PPI Paid to Date £1602.33
Total Reclaim = £3204.66

2. Was a front loaded policy in which case:
PPI £2021.33
PPI Paid Interest to Date £2251.56
8% Stat Interest on PPI Paid to Date £1760.48
Total Reclaim = £6033.37

I believe you won't have a front loaded policy in which case you should also have £2670.56 removed off the value of the loan. If it is front loaded then your loan payments won't change in anyway shape or form.

!!!!However these calculations don't include any changes in payment!!!!

hi mcolak
Just got in now, thanks for your reply, YES it was front loaded I believe. So do you mean just settle with what they are offering and then continue with loan or pay it off with a new better deal loan,if I can get one asap, as there will be no change to my payments.
just had the email off the solicitors and reading it over.

angelwillow

marshallka wrote: »

No, i hope not. I complained first by email and got a reply of "outside our jursidiction" about 3 weeks later. I have now sent in another type of complaint (similar thing) and i have telephoned them about this. I did get a reply of "that matter is within our jurisdiction". It does not mean they can necessary help though.

Thanks - been waiting 3 months and still waiting to be assigned so hopefully not time to give up just yet!

marshallka

Kaia wrote: »

hi mcolak
Just got in now, thanks for your reply, YES it was front loaded I believe. So do you mean just settle with what they are offering and then continue with loan or pay it off with a new better deal loan,if I can get one asap, as there will be no change to my payments.
just had the email off the solicitors and reading it over.

what you doing kaia, Are you going to keep the loan, pay it off.
Can they use rule 78

marshallka

Laini wrote: »

the letter from FOS the other day said give them 4 weeks if no joy contact him.
will be grey or have no hair by then.
I am as impatient as everyone
it would be different if I owed them it.
yours cheesed off
Laini xx(just having a bad day thats all):mad:

I would be impatient too. its your blummin money..