PPI Reclaiming discussion Part II

tiggrae

marshallka wrote: »

Tiggrae, were you referring to my claim now as it was Jan 2000. I would still be able to take this through the courts with Firstplus being the lender and Freedom being its "agent". I have now written to all three of these companies as someone will take responsibilty. I just really think this whole Bespoke thing needs smoking out as its so misleading to people taking out loans now and not knowing who the actual seller of the loan is. I will be on to the OFT when i have completed a full list of my complaints and what i have found out of this company. Its not fair to make a customer believe that they are being sold finance from the uk and later find out that its a company in Gibraltar that they have to deal with.

No it isn't fair - however, given your own circumstance you need to start proceedings otherwise the Statute of Limitations Act 6 year limit could prevail !!!

Also, you have had someone take responsibility - Bespoke, going back to them again to be honest won't get you any further, they'll just continue giving you the run around which will just lead to further fustration.

marshallka

tiggrae wrote: »

No it isn't fair - however, given your own circumstance you need to start proceedings otherwise the Statute of Limitations Act 6 year limit could prevail !!!

Also, you have had someone take responsibility - Bespoke, going back to them again to be honest won't get you any further, they'll just continue giving you the run around which will just lead to further fustration.

Is that six years from when it is taken out or six years from when the loan was settled. Also i have the FOS looking into the settlement and understand from OFT that i need to let them deal with that first but i know i have to gather information as well in order to have it all ready for my case.

I have a file full and need to get another one.

I will give FOS a ring tomorrow to see if they are looking into the ppi as the way it was sold as to yet i do not know what they are actually looking at. I sent in the information from Firstplus on my husbands employer and then the application that we sent in that had his real employer on.

I asked them to look into this as it seems mighty strange and i asked them to look into how i applied for a loan over 10 years with no ppi and then 10 days later got an agreement already typed up with 13 plus years on and ppi added. Also the fact that in between there was a strong possibility that no advance copy was sent as looking back there was only 10 days between the application and executed agreement. Of them 10 days 6 were holidays and it was christmas week too. I will ring them and ask just what they are looking into for me.

sussexsimba

after seeing your article on mis sold ppi I realised mine was worthless and at £60 a month also expensive , I tried to reclaim from barclays who said no and go to the ombudsman so I did and just got awarded all my money back I have paid so far on ppi (£2,200) also 8% interest on all payments and my loan will be requoted at a much better rate so drinks on me martin , message to everyone , study all your paperwork especially if your with barclays as they state we recommend you take out barclayloan protection , if indeed you need protection you should also get the option to shop around for cheeper equivelant , this was the basis of my claim but they also implied my loan would be declined as unsecure if i didnt have ppi , wrong again and they stated my apr would go up if I removed the ppi this is wrong too , good luck all and study that paperwork , another victory for the little man against the banks !!

tiggrae

marshallka wrote: »

Is that six years from when it is taken out or six years from when the loan was settled. Also i have the FOS looking into the settlement and understand from OFT that i need to let them deal with that first but i know i have to gather information as well in order to have it all ready for my case.

I have a file full and need to get another one.

I will give FOS a ring tomorrow to see if they are looking into the ppi as the way it was sold as to yet i do not know what they are actually looking at. I sent in the information from Firstplus on my husbands employer and then the application that we sent in that had his real employer on.

I asked them to look into this as it seems mighty strange and i asked them to look into how i applied for a loan over 10 years with no ppi and then 10 days later got an agreement already typed up with 13 plus years on and ppi added. Also the fact that in between there was a strong possibility that no advance copy was sent as looking back there was only 10 days between the application and executed agreement. Of them 10 days 6 were holidays and it was christmas week too. I will ring them and ask just what they are looking into for me.

Knowing the timeframe as to what the FOS can & can't look at, I suspect it will be the settlement in 2003 ONLY and NOT the mis selling or in fact who sold it to you. Also, the mis selling & the early settlement are two completely different issues and different legislation so you can start proceedings for mis selling whilst the FOS look at the early settlement.

As for the out of time, look at the post I answered on First Direct (post #2325), they are trying to state the claim is statute barred when it was sold in 2001, so you need to think about proceedings quickly and having your arguement in place for it not be statute barred, as the FOS could take months to make a decision on your settlement complaint !!

marshallka

tiggrae wrote: »

Knowing the timeframe as to what the FOS can & can't look at, I suspect it will be the settlement in 2003 ONLY and NOT the mis selling or in fact who sold it to you. Also, the mis selling & the early settlement are two completely different issues and different legislation so you can start proceedings for mis selling whilst the FOS look at the early settlement.

As for the out of time, look at the post I answered on First Direct (post #2325), they are trying to state the claim is statute barred when it was sold in 2001, so you need to think about proceedings quickly and having your arguement in place for it not be statute barred, as the FOS could take months to make a decision on your settlement complaint !!

I have sent a letter to Firstplus on 9th June giving them 14 days to reply and then i have said i will start proceedings. I have also sent a similar letter to Freedom Finance and Bespoke as advised by the FSA. I will have to be guided through the courts then if possible. Have i done right so far and really i think Firstplus is my best aim in this one so it will be them i shall take to court. If they do say its statute barred then what.

Unhappy_Matt

Hi, I'm new to the site can someone please help me. Took out a loan with Nemo a loan company through Ocean Finance.
I have just come to the end of my fixed term on my mortgage and have arranged my new mortgage to start next month, unfortunatly while check through my Nemo paperwork I have found out that the PPI I am paying with Nemo (which is only for 5 years on a 25 year loan) has been total up over the 5 years and added to my 25 year loan amount ( so paying 25 years of interest on a 5 year PPI) before it was passed on to a separate insurance company. I rang Nemo today and asked if I could cancel the PPI as it has only been running for a few months, if I cancel there is very large charge which is nearly the same amount as the PPI total for the 5 years anyway. Can someone please help.
:huh:

tiggrae

Unhappy_Matt wrote: »

Hi, I'm new to the site can someone please help me. Took out a loan with Nemo a loan company through Ocean Finance.
I have just come to the end of my fixed term on my mortgage and have arranged my new mortgage to start next month, unfortunatly while check through my Nemo paperwork I have found out that the PPI I am paying with Nemo (which is only for 5 years on a 25 year loan) has been total up over the 5 years and added to my 25 year loan amount ( so paying 25 years of interest on a 5 year PPI) before it was passed on to a separate insurance company. I rang Nemo today and asked if I could cancel the PPI as it has only been running for a few months, if I cancel there is very large charge which is nearly the same amount as the PPI total for the 5 years anyway. Can someone please help.
:huh:

put it in writing to nemo, if they don't respond satisfactorily make a complaint to the Financial Ombudman Service

tiggrae

marshallka wrote: »

I have sent a letter to Firstplus on 9th June giving them 14 days to reply and then i have said i will start proceedings. I have also sent a similar letter to Freedom Finance and Bespoke as advised by the FSA. I will have to be guided through the courts then if possible. Have i done right so far and really i think Firstplus is my best aim in this one so it will be them i shall take to court. If they do say its statute barred then what.

I'll bet you my dog (who's sooooo cute) that they'll all come back and deny mis selling !!! You don't have to get a final response to start proceedings.

This is what the statute of limitations says about chasing a debt - it's the last sentence which is important - although this is about a debt you could argue the same applies to mis selling if they go for the statute barred route

Limitation Act 1980 and Unsecured Debts.

The 1980 Limitation Act 1980 states how long a creditor can chase someone for an unpaid debt. This articles explains how the limitation act applies to unsecured lending in England and Wales.

The Limitation Act 1980 applies only when no contact has been made between the creditor and debtor within a certain time limit, and applies to residents of England and Wales only.
The time limit depends on the type of debt. For unsecured loans it is 6 years. If the debtor acknowledges the debt in writing or pays an installment within the original limitation period, then the time limit begins again from the date of acknowledgement or the date of payment.
If the creditor does not contact the debtor for 6 years or more, the debtor may be able to claim that the outstanding debt is Statute Barred under the conditions of the Limitations Act. Statute Barred means the creditor cannot use the legal system to enforce payment.
When a Creditor can pursue an unsecured debt.

A debtor may think (or hope) a creditor has written-off a debt if they have not heard from them for a long time. This may be because of failure to tell the creditor of address changes. The debt still exists and creditors are entitled to chase payment indefinitely.
Creditors can pursue an unsecured debt if:

• There is a CCJ outstanding against the debt.
• Payment to the account has been made within the past 6 years. This includes from other people named on the credit agreement.
• Contact has been made with any party named on the credit agreement. This can be by telephone, letter or email in order to request a balance or change details. An exception to this is contact for reasons to deny the debt exists.

tiggrae

Elsie2 wrote: »

tiggrae wrote: »

Thanks for that Tiggrae, some very useful stuff for me to mull over. I've already put all my paperwork into the Court for filing which includes my copy of the original paperwork from First Direct.
I'll look up the statute of limitations act in case i do end up going to court although i'm still sort of hoping they'll settle before it gets there. :eek:

look at my post on #2339 - this is important for yourself as well !!!!

marluc

Elsie2 wrote: »

tiggrae wrote: »

Thanks for that Tiggrae, some very useful stuff for me to mull over. I've already put all my paperwork into the Court for filing which includes my copy of the original paperwork from First Direct.
I'll look up the statute of limitations act in case i do end up going to court although i'm still sort of hoping they'll settle before it gets there. :eek:

Hi Elsie2
My court hearing was for the 1st of July. I had to send to the court and solicitors of Freedom Finance all the documentation I was going to use in Court, by June 9th. What was your date for submission?
Have the solicitors sent you their information? What documentation have you submitted to the court and solicitors?