PPI Reclaiming discussion Part II

dannythedog83

tiggrae wrote: »

When you make your complaint ask them to send you a copy of the Terms & Conditions - that should have all the PPi details on, you don't need the amounts to make your complaint, but what I suggest you do is try and get as much evidence as possible that you were unemployed at the time - tax returns, benefit office details, student loans - anything you can think of that will support your claim. As for the 6 year rule, there is debate about this - but if it is over 6 years ago but you were making payments within the last 6 years then you should be able to make a claim.

Thank you very much for that, as you can see I'm a newbie!

I'll send the letter of repayment also asking for the terms and conditions. I take it you mean the credit agreement for the PPI by terms and conditions?

I was a student (never earnt a taxable amount...) until July 2007 so I should have enough evidence to support it (I hope).

Jaycee2411

Hi! I'm going to post this again. Does anyone please have any thoughts or know if it's worth my pursuing Paragon on this? Although it all began in 1990. It wasn't finally settled until Nov 2002. So that doesn't leave me much time within the 6 year limit to pursue a claim. Please see below:

Reading through the thread I saw an old familiar name mentioned in someone's post.

In July 1990 I took out a loan for £6000 with Universal Credit Ltd which was subsequently taken over by Paragon Personal Finance (I don't have a copy of the agreement anymore though). I continued to make my monthly payments until I became unemployed a year later. When I tried to make a claim I was told that I hadn't been actively in work at the time the policy was taken out which was not true. I was in employment but they declined my claim anyway. By now I'm in arrears and a couple of months later they accept much reduced monthly payments of £5. Later it's increased to £10 a month. All the while I continued to recieve letters showing what my arrears were and my balance growing slowly but surely.
Some 6 years of regular payments later (i know, I know..) I get a letter chasing arrears. So by Nov 1999 my balance is over £3000 which I was prepared to take a loan out for to pay off but in the end they told me that £300 a month will pay off the amount in 12 months. Ok. The next letter I recieved from them was in Aug 2000 informing me that my balance was nearly £40,000! I think they must have added all the interest or something. I remember being so scared at the time! I couldn't believe it! I ended up having to get a solicitor (ended up paying them nearly £5000!) to get Paragon off my back.

My solicitor actually managed to get them to accept a payoff of only £500 on that supposed £40,000 debt to them. She demanded to know (a) why I wasn't afforded the insurance cover I was entitled to when I became unemployed (b) why they unlawfully demanded that I pay such an astronomical sum and (c) that I had already paid over £14,000 on a loan of £6000 between 1990 and 2002 and that a credit of over £4000 was due to me.

After my long winded post I was just wondering if I dare try to claim PPI back off this company on the above grounds. I'm betting it was probably a single premium polcy and they did deny me insurance cover when I became unemployed or do you think I should leave well alone and not look so greedy considering I got out of that financial scrape by only having to pay them £500 in the end?!!!

Any advice would be much apreciated. Thank you!

Kaia_2

marluc wrote: »

I know that you are getting excellent advice from Tiggrae, but just to offer you some moral support. Do take the Court route. I have done and Tiggrae has been great. I did it as a matter of principle.
Hope all goes well.

Hi marluc

Have you done it through MCOL or your local court?
All the best, keeping my fingers crossed for you, cant wait to read your success story on here:D
Kaia x

angelwillow

G.E not budging that the sales person in the shop didn't tell me ppi was optional -yeah I know but I wasn't as 'clued up' as I am now.
F.O not interested as they didn't regulate them then (2004) and my experience with FLA and bank charges is that they are useless - pretty much 'Will you (G.E) pay it back? No? Oh OK then' end of story.
Is court my only option now and if so what are my chances likely to be?

Caz1965_2

Caz1965 wrote: »

Could use some help please.

Took out loan with single premium in Oct 04 loan amount 7000 + 1671.95 ppi at 6.9%. Monthly repayments 170.61 x 60 months

I cancelled ppi in July 07 got a partial refund of £345 only.

Now I worked it out that I was paying £29.79 ppi every month and was expecting my repaymenrts to drop by around that amount, but they didnt they only reduced my payments to £160.50. = £10.11 reduction.

Are their calculations correct because it seems to me that they havent cancelled interest on ppi.

Anyone advice would be much appreciated.

Sorry to be a pain but does anyone have any ideas on whether their figures are correct. This was my first ever loan and I have no idea of how you work things out.

m.colak

Kaia wrote: »

hi mcolak
Thanks for that...
What about the Human Rights box? tick or not?
And the other thing ....our loan is in joint names
I am the one filling in all the forms and dealing with it etc, but hubby is the first named on the loan ....who should I put as the claimant ? Can I put it as myself?
Thanks x
How is little Babycolak doing....? Ahhh bless x

Hi Kaia sorry for the delay,

The human rights tick box is always a good thing to tick although by law you are already covered by it. Basically what it means that you want the right to a fair trail if required.

As for the joint names it depends on what you are claiming the missold PPI on if you are claiming that the contract doesn't protect you then you can raise the court case in your name with the primary policy holders permission. But in this case remove all wriggle room and put in the primary policy holders name ie your husbands but also include your own. The reason is that if this goes to court the person raising the claim will have to attend and in this case as you say it will be more than likely you will and not your husband.

Baby Luke is now 14 weeks and wonderful with lots of sleepless nights (not really) he usually sleeps 4-5 hours has a feed then back to sleep for 4 more.

m.colak

Jaycee2411 wrote: »

Hi! I'm going to post this again. Does anyone please have any thoughts or know if it's worth my pursuing Paragon on this? Although it all began in 1990. It wasn't finally settled until Nov 2002. So that doesn't leave me much time within the 6 year limit to pursue a claim. Please see below:

Reading through the thread I saw an old familiar name mentioned in someone's post.

In July 1990 I took out a loan for £6000 with Universal Credit Ltd which was subsequently taken over by Paragon Personal Finance (I don't have a copy of the agreement anymore though). I continued to make my monthly payments until I became unemployed a year later. When I tried to make a claim I was told that I hadn't been actively in work at the time the policy was taken out which was not true. I was in employment but they declined my claim anyway. By now I'm in arrears and a couple of months later they accept much reduced monthly payments of £5. Later it's increased to £10 a month. All the while I continued to recieve letters showing what my arrears were and my balance growing slowly but surely.
Some 6 years of regular payments later (i know, I know..) I get a letter chasing arrears. So by Nov 1999 my balance is over £3000 which I was prepared to take a loan out for to pay off but in the end they told me that £300 a month will pay off the amount in 12 months. Ok. The next letter I recieved from them was in Aug 2000 informing me that my balance was nearly £40,000! I think they must have added all the interest or something. I remember being so scared at the time! I couldn't believe it! I ended up having to get a solicitor (ended up paying them nearly £5000!) to get Paragon off my back.

My solicitor actually managed to get them to accept a payoff of only £500 on that supposed £40,000 debt to them. She demanded to know (a) why I wasn't afforded the insurance cover I was entitled to when I became unemployed (b) why they unlawfully demanded that I pay such an astronomical sum and (c) that I had already paid over £14,000 on a loan of £6000 between 1990 and 2002 and that a credit of over £4000 was due to me.

After my long winded post I was just wondering if I dare try to claim PPI back off this company on the above grounds. I'm betting it was probably a single premium polcy and they did deny me insurance cover when I became unemployed or do you think I should leave well alone and not look so greedy considering I got out of that financial scrape by only having to pay them £500 in the end?!!!

Any advice would be much apreciated. Thank you!

You can claim unfair terms and conditions on the PPI because at the end of the day you paid the cover yet never received the benefits of the policy. If you had had made a successful claim then you wouldn't be intitled to claim. I would consider getting all the paperwork together including the original letter stating about the revised payment scheme (£300) and the one from paragon and send it into the Financial Ombundsman Service as it seems that you have been on the blunt end of a regirus campaign. Hopefully they can look into it (it might take some time though) and find that not only you shouldn't have been paying PPI but the practices of the other companies involved were unlawful and that you may be due compensation.

m.colak

angelwillow wrote: »

G.E not budging that the sales person in the shop didn't tell me ppi was optional -yeah I know but I wasn't as 'clued up' as I am now.
F.O not interested as they didn't regulate them then (2004) and my experience with FLA and bank charges is that they are useless - pretty much 'Will you (G.E) pay it back? No? Oh OK then' end of story.
Is court my only option now and if so what are my chances likely to be?

Hi angelwillow before you start the court process check the website of the FISA as i'm sure that GE money were a member of them before the FOS so this is the route you should attempt next. Remember court should be the final method of getting your money back if you haven't tried all other options.

m.colak

Caz1965 wrote: »

Sorry to be a pain but does anyone have any ideas on whether their figures are correct. This was my first ever loan and I have no idea of how you work things out.

Hi if you believe that the rebate might have been disproportional then send the information with the complaint that you have been issued with a disproportional rebate to the FOS so that they can fully investigate the claim and in the best case force the company to compensate you and restructure the loan better.

Caz1965_2

m.colak wrote: »

Hi if you believe that the rebate might have been disproportional then send the information with the complaint that you have been issued with a disproportional rebate to the FOS so that they can fully investigate the claim and in the best case force the company to compensate you and restructure the loan better.

Thank you. Didnt know I could just complain though I had to have the figures worked out as well.