PPI Reclaiming discussion Part II

YEOSAL

Laini wrote: »

we all need to get it off our chests!!
goodluck
hopefully you wont have to do this again on your other claims
Laini xxx:j

Thank you for your support!

I wish I didnt, but waiting for a court hearing date with Lombard Direct. Unfortunately I have seriously messed up with the interest calculations and claim is way over 5k so have got to get an application to the court to change the amount. Think that is why I am panicking as have two big loads of work to sort out.

Nice to read on here how everyones is going though. Hopefully Marluc will get the settlement that she deserves too. :T

YEOSAL

sarahc5388 wrote: »

take a deep breath and count to ten - don't worry about having a moan - we all need to do it - and it's good for us!:grouphug: (this looks rude - it says it's a group hug!))

Thats great, made me laugh when I saw it! :beer:

tiggrae

dialysis wrote: »

Hi there where did you read that they were going under? Another poster has said that they are in administration. I am in same situation secured loan with them. Hope you do not mind me interupting your thread.
Thanks;)

there is a government sponsored compensation scheme for mis selling called the Financial Services Compensation Scheme (FSCS) when companies go into bankruptcy - this however, only applies if the advice given was after the 15.01.05

tiggrae

Laini wrote: »

I had forgot about that
I dont think they dare not to -only cos I WOULDNT LET THEM GET AWAY WITH IT!!!
Thanks for reminding me Sarah
now were is that statement -must have it somewhere:think::think::think:
catch you later
cheers
Laini xxx:wave:

found it!!

Dear Sir/Madam,

I am writing to you in regard to our complaint concerning mis selling of the single premium insurance.
As you will be aware that the Financial Ombudsman has been involved with our complaint and you have now agreed to refund us the difference as nearest possible to what we would have been if we had been sold the loan without PPI.
As yet I have not received the financial details on the redress as requested by the FOS, so I would like to remind you of this.

As stated in the letter from FOS the amount will have interest at 8% per annum simple from the date our loan was redeemed to the date Firstplus pay this compensation.

Firstplus has agreed to their recommendation.

I would also like to add that if I do not hear from you in due course I will be contacting the FOS at the end of June 2008.
I trust that such action would not be necessary and look forward to receiving the information and cheque as requested before this deadline.
I would be most grateful if you could confirm the receipt of this letter by email

Yours sincerely

just tweaked

Dear Sir / Madam

In respect to our complaint regarding the mis-selling of the single premium Payment Protection Insurance policy, as you are fully aware the Financial Ombudsman Service has upheld our complaint and following their investigation you have agreed to refund an amount which will take us near as possible to the position we would have been in had we not been mis sold the PPI.

To date, we do not appear to have received either the financial details or the redress as directed by the FOS. As stated in the FOS’s Adjudication, the amount repaid should included interest payable at 8% per annum simple from the date our loan was redeemed to the date Firstplus pay this compensation. This interest will continue to accrue until you send and I receive payment.

Could you please, as a matter of some urgency, provide an indication as to when Firstplus will make good upon the FOS’s recommendation. Should I not hear from you within 10 working days I will have no option but to reopen my complaint with the FOS Adjudicator.

I trust this action will be unnecessary and I look forward to receiving the information requested and cheque before this deadline expires.

I would also, be most grateful if you could confirm the receipt of this letter by email to [EMAIL="xyz@abc.co.uk"]xyz@abc.co.uk[/EMAIL].

Yours faithfully

tiggrae

YEOSAL wrote: »

Thank you for your support!

I wish I didnt, but waiting for a court hearing date with Lombard Direct. Unfortunately I have seriously messed up with the interest calculations and claim is way over 5k so have got to get an application to the court to change the amount. Think that is why I am panicking as have two big loads of work to sort out.

Nice to read on here how everyones is going though. Hopefully Marluc will get the settlement that she deserves too. :T

Hi there - you do know Lombard is part of the Royal Bank of Scotland - you could have taken your claim to the FOS - it might be easier to go to the fOS and in the meantime apply for a stay on your court claim - if you get it wrong in court you could end up being liable for costs as your claim being over £5k will probably be allocated out of the small claims and into the Fast Track court route.

MattClem

I posted this in another thread, but this is probably the correct one.
We took out a loan with Paragon about 18 months ago, we are remortgaging and are consolidating the loan. The horror when my settlement statement arrived showing I "owed" £10,000 for the PPI can only be imaginged.
I read the articles and phoned them to ditch and switch, however, they say they will only re-imburse 5%-9%(This hardly seems in line with a fair policy!)
My question is if I accept the small percentage will I waive my rights to reclaim the remainer of the policy. Or is it better to repay everything and try to claim?

tiggrae

MattClem wrote: »

I posted this in another thread, but this is probably the correct one.
We took out a loan with Paragon about 18 months ago, we are remortgaging and are consolidating the loan. The horror when my settlement statement arrived showing I "owed" £10,000 for the PPI can only be imaginged.
I read the articles and phoned them to ditch and switch, however, they say they will only re-imburse 5%-9%(This hardly seems in line with a fair policy!)
My question is if I accept the small percentage will I waive my rights to reclaim the remainer of the policy. Or is it better to repay everything and try to claim?

Refunds of Single Premium Payment Protection Insurance

have a look at this document it's what the FSA have to say on the fairness of refunds when you make an early redemption - copy this document to paragon - they are covered by the FSA and were when you took out your loan - tell them unless they provide you with a fair rebate figure you will take you complaint to the Financial Ombudsman Service

Good Luck

sarahc5388

Laini wrote: »

I agree with Marshallka when you send the SAR they know you mean business cos they have to give you everything on the full account make sure you recieve the details of both loans.
shout if you need help
Laini xx:j

Where can i get a SAR - looked at post 219 but nothing there

marshallka

sarahc5388 wrote: »

Where can i get a SAR - looked at post 219 but nothing there

Here is mine i sent but copy paste has come out a bit not as expected. I don't know if its as good as the other though





DEAR SIR/MADAM
I understand that you currently hold details of my
personal and financial information within your
internal record systems with regard to a secured
loan we took out with yourselves on the above
property.
Please supply me with a complete list of
transaction and charges relating to my history with
your organisation, payment protection insurance and
any telephone data.
-Full copies of all contracts which you believe
exist or have existed between myself and your
organisation, including true copies of any
documents you hold in support of the same.
- A complete list of all transactions or statements
relating to my secured loan.
-Copies of all documents which include any of my
personal information including copies of any
contacts or invoices, emails or computer records
containing my personal information, or any records
which pertain to this information.
-Full copies or transcripts of any correspondence
in postal, email or any other format which you have
entered into with any individual, organisation or
third party which contains my personal or
financial, or which pertains to me.
- Where any previous information or records held
have been deleted or disposed of, the methods used
to do so, including dates, certificates or
references confirming details of destruction. Where
you are unable to provide such certificates, please
provide a declaration, signed by an authorised
officer of your company, confirming the dates and
methods of destruction of this data.
-Full hard copy print outs of my personal or
financial information, held in a digital, magnetic
or any other format which is held in any archives,
backups or other storage devices / locations.
I enclose a cheque in the sum of £10 to cover your
fee.
IF YOU UNABLE TO DEAL WITH THIS REQUEST, YOU SHOULD
IMMEDIATELY FORWARD IT TO THE PERSON WITHIN YOUR
ORGANISATION RESPONSIBLE FOR DATA PROCECTION.
I look forward to hearing from you in the first
instance of receipt.
Yours faithfully

MattClem

Thanks Tiggrae

"have a look at this document it's what the FSA have to say on the fairness of refunds when you make an early redemption - copy this document to paragon - they are covered by the FSA and were when you took out your loan - tell them unless they provide you with a fair rebate figure you will take you complaint to the Financial Ombudsman Service"

Time is unfortunately the enemy here,as I have to remortgage by the end of July and the bank doesn't want any outstanding charges on the property. So if I have to accept the low offer can I claim the remainder or am I better off paying back everything and trying to reclaim? I can't imagine a month is a long enough period to get a fair settlement, or am I wrong?