PPI Reclaiming discussion Part II

tiggrae

weekenny wrote: »

Hi all,

Ive had a loan with WFS for about 4 years now - topped the loan up twice, so really had 3 loans from them. The PPI i was paying on these were ridiculous. I am able to claim any of this back? And where can i get template letetrs if i can claim.

Thanks in Advance
K

you can only reclaim if you believe the insurances were mis sold, you could cancel and try and get your premiums reduced

ninjastriker

I just rang my capital one credit card and cancelled my PPI, when i ask about getting the money back they said that i won't get it back.

I did ask who to talk to and got a number for AXA insurance, don't know if its right as i couldn't hear them 0845 641 9648.

My question is can i still get the money back, as it was something i never even need or would of used. Any advice on what my best approach is, I only been paying for it since January this year.

Blodders

Blodders wrote: »

I started my complaint against Barclays Bank misselling PPI in October 2007. I received the three obligatory 'knock back' letters from the bank and in March 2008 sent the lot with their complaint form to the FSO.

The complaint refers to a loan of £10000 (rising to over £14000 with costs) and a £3300 payment for PPI.

As expected I had a number of letters from the FOS to say that hey were very busy and not in a posiion allocate an adjudicator. The last of these letters was on 30 May 2008. But surprisingly on 9 June, I had another letter from the FOS say that they had upheld the complaint and Barclays had agreed to pay redress plus the interest and recalculate the loan as had i not taken out the PPI in the first place.

So in about 10 days at the start of June the FOS had allocated an adjudicator, investigated the complaint, spoken to Barclays and written back to me. Amazing.

Last Thursday I had a call from Barclays to say that they were putting my loan repayments on hold. !?!

I rang the Barclays Customer Relations number i found on google to try and get an idea of timescales of when i would be recompensed. They couldn't tell me because they said that they needed to work out how much to take off the loan. i asked that the money be sent direct to me and not charged to the loan account. I asked that they write to me to confirm that that is what they would be doing.

I wasn't left feeling very confident though as the people in the Barclays call centre (Liverpool/Merseyside by their accents) did not seem at all sure of what they were talking about.

I read earlier that they have 28 days to refund monies, is that correct?

I am assuming i am within my rights to request that the lump sum is sent direct or at least deposited in my bank account.

I spoke again to Barclays customer relations this afternoon. they insist that it is Barclays policy to repay monies owing direct to the loan account and not into a current account. I couldn't quite follow the argument why this should happen. I didn't have the letter from the FOS in front of me to push the point . Barclays could not give me any sort of timescale either on when this will happen. I have left a message on the call box of the adjudicator at the FOS to try and clarify this point and hopefully apply pressure to the bank.

di3004

ninjastriker wrote: »

I just rang my capital one credit card and cancelled my PPI, when i ask about getting the money back they said that i won't get it back.

I did ask who to talk to and got a number for AXA insurance, don't know if its right as i couldn't hear them 0845 641 9648.

My question is can i still get the money back, as it was something i never even need or would of used. Any advice on what my best approach is, I only been paying for it since January this year.

Hi hun.

I'm actually fighting a Credit Card PPI myself, in fact its with the FOS right now.
Will update here in time.

Can I ask how long ago did you take the Credit Card ?
Have you a terms & conditions agreement that you should have had within a short time of having these products ?

I do know there is a time limit for credit card ppi cancellation but if you believe you were mis sold this actual product I would pursue to them about this and request for whatever has been paid, plus charges and interest etc.

There are templates to help you on this site, but meanwhile I'm sure one of these lovely lot can give you the advice and information you require.;)

Good luck with whatever you decide to do hunni.;)

Di.

marshallka

tiggrae wrote: »

I only thing I could do is redo your complaint on the early redemption, I'd make it against Barclays t/a Firstplus and from the 2003 date- as for the mis selling - leave that one for you as you're on a personal mission !!!

Yeah thanks tiggrae but really there would be no unfair rebate if the ppi thing and the extra 40 months were sorted out. I am on a personal mission here because its something that i REALLY believe in.

That loan and whoever sold it to us really messed up our lives. It was something that haunted me then and still haunts me now. We were in debt but pushed into more debt by adding this ppi on and really looking at what they gave to Firstplus about my husbands income it looks like it was frauded in the first place by whoever brokered the loan. Why would they have a false wage address there and also when we "google earth" that address its a terraced house. I don't think we would of earned enought to get it in the first place. These things i need to find out.

I do feel strong about it and want my money back. I was quite ill when we took the loan out (i did send documented proof to FOS about both things and dated letters) and then developed something else at the time of settlement and i had to let our solicitor deal with it. My health came first but i did complain to FP so many times about having no "documents". They said in phone calls that these were given to us by "BRKWILM" Freedom finance at the time we applied.

chrismoney1800

Hey,
Im thinking of fighting against a Tesco Loan.
Would somebody check over this letter as I havent a clue. But I have drawn up this. Will you kind guys tell me if it would stand up.

Dear Sir or Madam,

Re: Reference Number: ***************

I purchased the above policy from you on 30/08/2005 but now believe that I was mis-sold the Payment Protection Insurance on the policy.

This is due to the fact that I was not given the correct information when the policy was sold to me, as I was not asked whether I would be covered elsewhere at this time I was working for the NHS therefore I was covered. The payment protection insurance was not stated on my Fixed-Sum Loan Agreement, this should have been stated under section 2. Other Financial Information, where the payment protection insurance should have been broken down i.e. Cash price of insurance and interest.

Unless you can satisfactorily justify to me that the policy was fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.

I look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.

Yours faithfully,

Thanks.

tiggrae

Blodders wrote: »

I spoke again to Barclays customer relations this afternoon. they insist that it is Barclays policy to repay monies owing direct to the loan account and not into a current account. I couldn't quite follow the argument why this should happen. I didn't have the letter from the FOS in front of me to push the point . Barclays could not give me any sort of timescale either on when this will happen. I have left a message on the call box of the adjudicator at the FOS to try and clarify this point and hopefully apply pressure to the bank.

If you've been unlawfully deprived of monies, the monies should be paid back to you in the amount + interest of what you've paid and the remainder of the ppi payments removed from the loan- Re-read what the FOS said in their letter to you, did you stipulate on your complaint form to them how you wanted them to put things right - what exactly did you sign for on the FOS acceptance form

tiggrae

chrismoney1800 wrote: »

Hey,
Im thinking of fighting against a Tesco Loan.
Would somebody check over this letter as I havent a clue. But I have drawn up this. Will you kind guys tell me if it would stand up.



Thanks.

I'd take out the bit about 'I purchased from you' you're claiming for mis selling either put you were 'sold' or mis sold the policy.

chrismoney1800

tiggrae wrote: »

I'd take out the bit about 'I purchased from you' you're claiming for mis selling either put you were 'sold' or mis sold the policy.

Thanks, will do that. But is the reason good enough?

Thanks.

tiggrae

marshallka wrote: »

Yeah thanks tiggrae but really there would be no unfair rebate if the ppi thing and the extra 40 months were sorted out. I am on a personal mission here because its something that i REALLY believe in.

That loan and whoever sold it to us really messed up our lives. It was something that haunted me then and still haunts me now. We were in debt but pushed into more debt by adding this ppi on and really looking at what they gave to Firstplus about my husbands income it looks like it was frauded in the first place by whoever brokered the loan. Why would they have a false wage address there and also when we "google earth" that address its a terraced house. I don't think we would of earned enought to get it in the first place. These things i need to find out.

I do feel strong about it and want my money back. I was quite ill when we took the loan out (i did send documented proof to FOS about both things and dated letters) and then developed something else at the time of settlement and i had to let our solicitor deal with it. My health came first but i did complain to FP so many times about having no "documents". They said in phone calls that these were given to us by "BRKWILM" Freedom finance at the we applied.

I would suggest you consult a solicitor, you can usually get a free hour's worth of advice if they think they're going to get work from you - but you need to be VERY clear what you're asking - ie Freedom processing invalid information in respect to earnings to get you a loan you clearly couldn't afford - was this fraudulent and does it override the Statute of Limitations - (also if they are only the processors, can they be held accountable or is it bespoke as the self proclaimed brokers that need to be charged with fraudulent behaviour) otherwise your claim could be struck out just like Yeosal for being statute barred.