PPI Reclaiming discussion Part II

rikkdh

Looking for some advice and it's a bit complicated.

I wrote to LTSB to complain about the mis-selling of PPI on 2 loans. The 2nd loan is a consolodation of my 1st one. Anyway after my 1st letter(using the templates) they came back and said that they would give me approx £1000 (the full amount of the PPI Premiums) plus interest for the original loan and the same again (nearly £3000) for the consolidated loan. A great result or so I thought. This is based on the fact that they no longer have the paperwork to substantiate or defend my claim and that this is a good will gesture.

The condition of acceptance of the 2nd, larger amount was that this was paid into my loan to reduce the balance outstanding.

My initial reaction was really positive but before accepting I wrote them another letter to say that while I accepted their offer I wanted them to fully respond to my complaint. For example they never told me amounts for the interest that would be paid back to me amongst other things.

Their latest and what appears to be their final response is that:-

They will give to me the full premium back plus interest on the PPI amount of the 1st Loan

The will refund the same to my current loan (PPI + Interest) to cancel the insurance element of my policy

They have told me that they connot tell me the Interest Amounts.

The 2 offers are independant of each other.

I guess my question is- Should I accept this offer and are they within their rights not to refund me the premiums that I have paid for the last 4 years?

My main objective would be to get some cash back for the 2nd PPI amount - given that I've paid nearly £1500 towards it.

Any tips or suggestions would be much appreciated.

Cheers Rik

m.colak

rikkdh wrote: »

Looking for some advice and it's a bit complicated.

I wrote to LTSB to complain about the mis-selling of PPI on 2 loans. The 2nd loan is a consolodation of my 1st one. Anyway after my 1st letter(using the templates) they came back and said that they would give me approx £1000 (the full amount of the PPI Premiums) plus interest for the original loan and the same again (nearly £3000) for the consolidated loan. A great result or so I thought. This is based on the fact that they no longer have the paperwork to substantiate or defend my claim and that this is a good will gesture.

The condition of acceptance of the 2nd, larger amount was that this was paid into my loan to reduce the balance outstanding.

My initial reaction was really positive but before accepting I wrote them another letter to say that while I accepted their offer I wanted them to fully respond to my complaint. For example they never told me amounts for the interest that would be paid back to me amongst other things.

Their latest and what appears to be their final response is that:-

They will give to me the full premium back plus interest on the PPI amount of the 1st Loan

The will refund the same to my current loan (PPI + Interest) to cancel the insurance element of my policy

They have told me that they connot tell me the Interest Amounts.

The 2 offers are independant of each other.

I guess my question is- Should I accept this offer and are they within their rights not to refund me the premiums that I have paid for the last 4 years?

My main objective would be to get some cash back for the 2nd PPI amount - given that I've paid nearly £1500 towards it.

Any tips or suggestions would be much appreciated.

Cheers Rik

Ok first of all its a great result on the first loan however they are remiss if they can't provide the paperwork for either as they could actually be ripping you of. Second of all the amount that you have paid so far might when you take into account what you have paid on your loan already my make more of a substatial difference. Ie you took a loan out for 10k and the ppi was 2.5k the amount or rate you paid that off when taken against a settlement figure of one where you just had the 10k but paying the same amount in payments could almost (in most case's) be double on the PPI.

I would recommend you work out 7.5% of the original loan as this should give you a rough figure for the PPI on the original loan and see if this is close to what you are getting back. On the second loan i would ask for a settlement figure and then if you give me the details i could work out what difference you would be looking at overall.

Something to note as well is that it is your right to decide who you get a refund/rebate otherwise it is conditional and therefore may/may not be in your best interests. To me looking at the information all that they will do on the second loan is refund the PPI plus interest and not take into account the overpayments and reduction interest that you have already paid.

Laini

wildanna wrote: »

hi can anyone help had my sar back from loans.co.uk got blank credit agreement terms an conditions plus cd with password which i cant open i already sent them the first 2 letters what do i do now thx

Sorry I missed your post earlier
have they given you their final response if not you must write back and ask for it.
then you need to down load the complaint form from FOS you can fill it in and print it off and then sign it you have to enclose the final response letter or the FOS will send it back to you asking for it.
sorry again PM if you get stuck
Laini xx:j

The_deacon

A quick question if someone could advise, thanks.

Getting nowhere with requests for repayment so am filling in N1 forms this afternoon.

The loan which PPI was added to was a joint loan, do i need to file the court claim in joint names or can i do it on my OHs behalf?

many thanks

The deacon

tiggrae

The_deacon wrote: »

A quick question if someone could advise, thanks.

Getting nowhere with requests for repayment so am filling in N1 forms this afternoon.

The loan which PPI was added to was a joint loan, do i need to file the court claim in joint names or can i do it on my OHs behalf?

many thanks

The deacon

was the ppi in joint names - if so that's who the claim should come from - I'd also suggest you post your particulars of claim on here before sending off - so we can help you with the wording - you can lose on a technicality if you don't get it right - also, it costs £40 to make an application to change the particulars on a N1 form.

ps how is your claim against and when was the ppi taken out ?

di3004

wildanna wrote: »

hi can anyone help had my sar back from loans.co.uk got blank credit agreement terms an conditions plus cd with password which i cant open i already sent them the first 2 letters what do i do now thx

Hi there Wildana.

Sorry to hear your having problems hun, but SAR's are also a very important part of your complaint, if your CD disc is not working hun you need to write back for as soon as possible and request a 'working disc' suitable for you to open and listen to, if they do not do this as far as I'm concerned they have not complied to your request.
In the SAR information there may be useful information which could back you if you decide to proceed and go forward to the FOS, with mine I have come across quite a bit that can be a help for the ombudsman and help in your favour.

In the letter you sent about your request they should have supplied everything you asked for, these should also include 'code abbreviations' to help you understand the meanings of the codes they use.

They should have supplied you with all information regarding all accounts on you, communications, such as emails, letters, telephone calls, which is a problem here for you right now as you need to listen to this, and the FOS would also need this information for the case.

If you feel they have not supplied you with all the information you need to write back for as soon as possible, for instance the deadline for these are 40 days, if you received the SAR from them after 20 days, then they will have 20 days left to supply these. This is what I am aware of.
If they do not supply this requested information you can warn them you will be writing to the Information Commissioners Office (ICO) to report them.

If you need further help and advice hunni, get back and there is always someone here that are more than williing to help.;)

The more information you have it will hopefully help back your case, but Lloyds I do know are very slow and you have to keep on at them.

Good luck.;)

Di.
xx

sparky0107

Hi all,
Quick question, requested my SAR from GE Money Home lending & started reclaim only to be told that loans.co.uk are responsible, do I need to do another SAR request for loans.co.uk?

Thanks in advance (again)

di3004

sparky0107 wrote: »

Hi all,
Quick question, requested my SAR from GE Money Home lending & started reclaim only to be told that loans.co.uk are responsible, do I need to do another SAR request for loans.co.uk?

Thanks in advance (again)

Hi there Sparky.

I was baffled with mine here too hun, the broker sorted out the loan, but it was the actual loan provider who I did end up requesting the SAR where paperwork from the brokers was amongst the information I received.
The brokers did say it was the providers that would have to supply this to me.......

It shouldn't do any harm, and don't forget if they cannot supply it they have to send back your £10 fee.;)

Its up to you hun, if your still unsure see what the others here have to advise you.;)

Di.
xx

The_deacon

tiggrae wrote: »

was the ppi in joint names - if so that's who the claim should come from - I'd also suggest you post your particulars of claim on here before sending off - so we can help you with the wording - you can lose on a technicality if you don't get it right - also, it costs £40 to make an application to change the particulars on a N1 form.

ps how is your claim against and when was the ppi taken out ?

Hi Tiggrae, i have posted a couple of times previously re: this one. post number 3367 in the original thread springs to mind.

Claim is again'st The Associates/Citi and taken out June 2002. I originally wrote to them in December 2007 and have had no replies from them whatsoever.
Thanks for your advice re the POC

marshallka

sparky0107 wrote: »

Hi all,
Quick question, requested my SAR from GE Money Home lending & started reclaim only to be told that loans.co.uk are responsible, do I need to do another SAR request for loans.co.uk?

Thanks in advance (again)

I requested a SAR from both Freedom and FIrstplus as i wanted proof of who sold the policy so it may be worth it to you (as both my deny). If you have proof with the first one then start your claim off with loans.co.uk. If they argue things you may need a SAR for back up.