PPI Reclaiming discussion Part II

emmajoe

Hi everyone,

I have tried to claim back ppi on an old credit card. Citi bank are refusing saying I must have agreed to it. I have asked for a copy of the application form to prove it. I'm still waiting for a reply. I would like to fill out MCOL and pay the fee as I think it would be quicker. Has anyone goine via MCOL or would it be better to go to the FO.

Any advice gratefully received.

Kavanne

budwyza wrote: »

Hi,

I took out a Barclayloan With PPi, I have asked to have the PPI cancelled the loan has 12 monts to run, I was told that If I cancell the PPI my loan interest rate will increase from 10.9 to 24.9. can they do this .???

many thanks

When did you do the loan? I know Natwest's loan rates have increased in the past few months and also you would be borrowing significantly less than the original loan was if you restructure without PPI now. (Ie you took a loan of £10000 out and received an APR of 10.9% but if you took out a loan of just £1000 the APR would be a lot higher, in your case around 24.9%). The more you borrow, the lower the APR.

Locke

I had a second letter from Alliance & Leicester and they still won't admit being in the wrong, I've just typed out a final letter explaining my opinion on what happened in detail and that I'll take their next reply as the final one and be forced to report them to the Financial Ombudsman.

the_caretaker_2

Hi everyone,
I could really do with your help.
I took out a loan for 10k in April 03 with PPI, at the time it was not explained to me that this was not an optional extra and after working it out myself (from speaking to other people) that i didnt need it I cancelled it a year later.

I have written to BOS and they have returned stating that they would have sent me a policy booklet that explains it all and I have no claim.. and sent me details to complain to FOS if still not happy

Now i dont remember whether i received this or not.

However where do i stand in reclaiming.. Do I have a leg to stand on?

Thanks in anticipation

sparky0107

m.colak wrote: »

Throw back to the them that over reliance on postal documentation to explain the process of PPI is against the terms of the consumer credit act. Have you got copies of all documentation and a audio copy of the telephone conversation when you took out the loan. The audio copy can be used as evidence to support if PPI was never explained or offered. Also ask for a copy of the customer credit agreement which you signed which stated you accepted PPI and look for the digital tick. Once you have all that information you can progress your claim.

Hi m.colak,
Thanks very much for the help so far, the following is the text of the letter I will be sending to Freedom Finance Plc, they also say in their reply letter that they were not required to be authorised and regulated by the FSA, but they were members of the voluntary trade body FISA. Can you tell me if it reads OK to you:-


Dear Ms XXXXXX
Further to your reply to my complaint. I would like to argue that over reliance on postal documentation to explain the process of PPI is against the terms of the Consumer Credit Act 1974. I would also like to ask for a copy of the Customer Credit Agreement which stated I accepted PPI cover

Your Faithfully

XXXXXXXXXX

Thanks once again for your help and sorry to be a pain
:beer:

Kaia_2

marshallka wrote: »

I have just had good news really when i spoke to firstplus about my letter of complaint. I orginally thought my loan that was taken out in 2000 was settled in 2002 and over six years ago and then when i spoke to them today i have found out i settled in April, 2003. Does that mean i have a claim now. Also i was told (the bad luck) that we used a broker "Freedom Finance". I can't remember using them. How do we stand now. Do we claim from Firstplus (that is where i have sent my complaint to) or Freedom Finance. I have tried to look back on this thread and their is so much contradicting advise. I need to know exactly. Is the consumer forums that right place to look. Advice much appreciated. Also anyone had any luck with Freedom Finance.

Can i now join the "claim gang" and if anyone is working for the "claim gang" please could you help. Also something else i remember when settling my loan with Firstplus. They said my husbands wages were down as about £10k more than they were. We had sent P60's and wage slips in too but i never pursued it as we were wanting to settle. Could the broker do this.

Hi marshallka
I took out a loan which is with GE money (lender) but it is the Broker Freedom Finance who I have to make the claim against (as advised by both tiggrae and mcolak)
I am in the process of preparing my claim....ready to issue next week.

volfram

been sending letters to Natwest since Nov 07. using template letters and using few ideas as seen on here but after long time waiting have got my final final responce (have sent of complaint form to FOS and told Natwest did this )the claims I used were salesperson implied taking out policy would assist credit, salesperson very pushy in selling the policy,the loan was to refinance borrowing and policy extra expense we could not afford/ there staff were encouraged to sell PPI.only one of us covered on insurance /joint application.They have come back with there staff are fully trained to ensure customers understand that policy is optional,that declining cover in no way affect application for loan and that loan and insurance are seperate products and seperate transactions. there staff are salaried and not commission based.that we had a cancellation period we could of used after meeting with staff. I feel that it is my word against theirs, so either when the FOS get around to looking at it I don't know what else to say. Feel quite deflated. before we took out this loan we were receiving regular calls from them to come in for "customer review" and the loan was pushed at us quite strongly and because we were struggling we took it!

marshallka

Kaia wrote: »

Hi marshallka
I took out a loan which is with GE money (lender) but it is the Broker Freedom Finance who I have to make the claim against (as advised by both tiggrae and mcolak)
I am in the process of preparing my claim....ready to issue next week.

let us know. I have done the claim through firstplus (worstplus) but i haven't heard anything as yet. Good luck

Kaia_2

Hi again!

We have been lucky enough to find lots of documents relating to our loan in storage up in our attic:T we even have memos and jottings from the actual telephone conversation at the time the loan was taken out! :j I cant believe it!!!
Will this help us in court ? Will it be looked at?

I have the full name of the person who dealt with the process, even which "team" she was on, plus additional names of people we had to send the odd fax to etc.
Also we found copies of two Customer Credit Agreements, unsigned, both with the boxes preticked (not computer ticked though- manually (but not by us!)) asking us to sign in the box and return.
I had made notes to say that I had queried what the PPI was and why there was a charge for xxxx on the form, I jotted down some notes that we HAD to take this out in order to complete the loan, that I told them we didnt want it and we were told that we would HAVE TO!
I found all the statements over the last six years, a list of items which we were consoldating in this loan with all the amounts and who they were with.....EVERYTHING!!!!
Also there was another query to which I had a written reply, so theres that letter as well.:j GREAT!....Plenty of suff that should help...
AM I GLAD I SENT HUBBY UP THE ATTIC TO RUMAGE !!!!!!!!!!!!!!!!!:T

marluc

Kaia wrote: »

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

Hi Kaia:beer:
I went through MCOL and when Freedom Finance decided to defend the case, it was written on the pages from Northampton Court, (MCOL) that because I was an individual and not a company taking Freedom Finance to Court, it would be held in my local Court. I had to have all the paperwork back by May 1st, I did that by 21st April and had to pay the court £35. I was also asked if there were any dates in the next 4 months that I could not attend Court, eg holidays etc. I did as Tiggrae suggested and wrote to the solicitors about the procedures in place for FF conforming to good practice re: selling PPI and they have missed the deadline that I gave them of 7 days. I also added that I was sending a copy to the court (my local court) where it is going to be heard. So that doesn't do them any favours, surely. Just go for it and sock it to them. If you need any more help/advice/support just write. Good luck.