PPI Reclaiming discussion Part II

rosenrot

Thank You di3004,

Sorry if I sounded impatient and it looked like I was demanding an answer.

I have just got fed up and cancelled all three of my PPIs..
The loan in question was with BoS and they have came back and said by cancelling i will reduce loan amount by £1060, therefore the loan term will be reduced, but no reducton on loan payments.
Halifax loan is reduced by £8 per month loan payment with a rebate of £240 and finally CitiFinance will refund half of the total paid out on the PPI but no reduction in loan payment.
Thank you once again for your advice and if it wasn't for these boards I wouldn't be half as clued up on the outrageous charges and mis selling that goes on and would have obliviously carried on being fleece.
To all on this board a big THANK YOU.

womomo

My 10 year tesco loan is half way through, the PPI is £42 per month. I am not sure if the unemployment part will cover me as I was self employed when I took out the loan (I still am self employed). I pay class 2 NI contributions which may mean that i am covered, but only if my business ceases trading by any means other than voluntary or temporary.

The loan is also in mine and my wifes names, but only I am covered by the unemployment part of the PPI.

The PPI has also been added to the amount I have borrowed and interest added to a combined amount (single policy loan I think it is called)

Should I try and put in a reclaim letter as I thought the unemployment would cover both of us (it did not mention anything when applying that i can remember), or should I just cancell the PPI and ask for the loan to be recalculated and see if I get any kind of refund?



Any advice always gratefully received

marshallka

Just started my second PPI claim with the Co-operative bank and have received the usual response from them. I have now written back after not receiving a copy of the agreement that i requested by both letter and telephone. I first telephoned about 6 to 8 weeks ago for this and then requested it by letter a couple of weeks ago. I have received a letter back but still no copy of the agreement. I have now written again about this and that i will esculate my claim to FOS if i do not receive a more favourable response. I wondered if i have to ask for a SAR as i remember singlep posted some weeks back that it is not always necessary ask for a sar if it was a single premium. Am i correct that i can just go to FOS with a little information in that i did not know it was a front loaded policy and that when i settled i got very little back from it but paid interest for the full term of the loan. We were not given a choice as to having this premium or asked if we wanted anything else and not asked anything about pre existing medical conditions at all but mostly our claim is about it being one of these evil single premiums. Do i need a sar or not?????????????

The loan was taken out on 19th December 2002 and settled on 1st September,2004

FoldingStuff

Hi, I've just read the article and joined the forum.

I have a PPI running on a credit card, which has now sneaked up to a whopping 60 pounds per month, as the CC balance is fairly high.

I think I have good grounds to reclaim it, but it's presently still running and I just wanted to know if I can cancel it right away, and then attempt to reclaim it, or if it's better from a reclaiming point of view to leave it running whilst I attempt to reclaim it, they'll no doubt cancel it for me as soon as I attempt to reclaim anyway, but it goes out in the next few days and I would like to save this month's installment if possible?

Please advise

Thanks

:rolleyes:

marshallka

FoldingStuff wrote: »

Hi, I've just read the article and joined the forum.

I have a PPI running on a credit card, which has now sneaked up to a whopping 60 pounds per month, as the CC balance is fairly high.

I think I have good grounds to reclaim it, but it's presently still running and I just wanted to know if I can cancel it right away, and then attempt to reclaim it, or if it's better from a reclaiming point of view to leave it running whilst I attempt to reclaim it, they'll no doubt cancel it for me as soon as I attempt to reclaim anyway, but it goes out in the next few days and I would like to save this month's installment if possible?

Please advise

Thanks

:rolleyes:

Most people on here cancel and then make a complaint to try to reclaim it.

di3004

rosenrot wrote: »

Thank You di3004,

Sorry if I sounded impatient and it looked like I was demanding an answer.

I have just got fed up and cancelled all three of my PPIs..
The loan in question was with BoS and they have came back and said by cancelling i will reduce loan amount by £1060, therefore the loan term will be reduced, but no reducton on loan payments.
Halifax loan is reduced by £8 per month loan payment with a rebate of £240 and finally CitiFinance will refund half of the total paid out on the PPI but no reduction in loan payment.
Thank you once again for your advice and if it wasn't for these boards I wouldn't be half as clued up on the outrageous charges and mis selling that goes on and would have obliviously carried on being fleece.
To all on this board a big THANK YOU.

Hi there and yes I understand how you feel, surprising how it all adds up on the loan and yet when cancelling there's not a big reduction......:rolleyes:, annoying I know, especially if you want to opt and find a stand alone cheaper insurance cover, its then defeating the object because they have not reduced the payments by much it adds up again on other covers....:rolleyes: .

I wish you all the luck in the world.;)

Di.
xxx

di3004

womomo wrote: »

My 10 year tesco loan is half way through, the PPI is £42 per month. I am not sure if the unemployment part will cover me as I was self employed when I took out the loan (I still am self employed). I pay class 2 NI contributions which may mean that i am covered, but only if my business ceases trading by any means other than voluntary or temporary.

The loan is also in mine and my wifes names, but only I am covered by the unemployment part of the PPI.

The PPI has also been added to the amount I have borrowed and interest added to a combined amount (single policy loan I think it is called)

Should I try and put in a reclaim letter as I thought the unemployment would cover both of us (it did not mention anything when applying that i can remember), or should I just cancell the PPI and ask for the loan to be recalculated and see if I get any kind of refund?



Any advice always gratefully received

Hi there.

Yes you are in the position to reclaim, if you believe you were mis sold this ppi policy.;)

Do you still have the paperwork with the terms and conditions for this etc ?

If you check the policy details it should tell you if this would cover you or not in your position.
But if this was not explained to you, depending when you had taken it out, it is possible you could also quote you feel you were mis sold for a number of reasons.

There is a template on this site for reclaiming your PPI, if you have a look at the top of this page, there is a ad showing ''reclaim £1'000's' check on that link, this will give you more of an idea, and templates are on the link too.

Good luck, if you require further help/info please yell.;)

Di.
xx

womomo

di3004 wrote: »

Hi there.

Yes you are in the position to reclaim, if you believe you were mis sold this ppi policy.;)

Do you still have the paperwork with the terms and conditions for this etc ?

If you check the policy details it should tell you if this would cover you or not in your position.
But if this was not explained to you, depending when you had taken it out, it is possible you could also quote you feel you were mis sold for a number of reasons.

There is a template on this site for reclaiming your PPI, if you have a look at the top of this page, there is a ad showing ''reclaim £1'000's' check on that link, this will give you more of an idea, and templates are on the link too.

Good luck, if you require further help/info please yell.;)

Di.
xx

:T :T :T

Thanks for the help!!

Only one small problem, I do not have (if I ever had) the terms & conditions for the loan.

I think I will go a head with cancelling the PPI and will also put in a claim for being mis-sold and see what occurs.

I have checked out the re-claim template on this sight and have made the necessary modifications.

It will be intersting to see what happens.

Thanks again and I will let everyone know what happens in the end.

:beer:

very_silly_and_scared

Hi all

I wonder if anyone has some insight into this?

8 years ago I took out a £2,000 loan with my bank who basically implied that PPI would help my chances of getting it. It was added up front. I finished paying it off in 2005.

ANYWAY...I sent the PPI claim letter to them and got a reply yesterday telling me tough luck because you took out the loan more than 6 years ago, it's too late, take it to the ombudsman if you like but he will tell you the same (Obviously more officially written than that!)

I thought I understood when I read Martin's column on this that you could claim for agreements which ENDED in the last 6 years as well as those which started.

Are Barclays right? Have I no chance of a claim?

di3004

very_silly_and_scared wrote: »

Hi all

I wonder if anyone has some insight into this?

8 years ago I took out a £2,000 loan with Barclays who basically implied that PPI would help my chances of getting it. It was added up front. I finished paying it off in 2005.

ANYWAY...I sent the PPI claim letter to them and got a reply yesterday telling me tough luck because you took out the loan more than 6 years ago, it's too late, take it to the ombudsman if you like but he will tell you the same (Obviously more officially written than that!)

I thought I understood when I read Martin's column on this that you could claim for agreements which ENDED in the last 6 years as well as those which started.

Are Barclays right? Have I no chance of a claim?

Hi there.
Right if that was their final response fill in a FOS complaint form and sent it off as soon as possible.
Do me a favour please, if you have any of the paperwork/documents for these still, check out the company number, this should be added normally at the bottom or in the documents somewhere.
I know this was over 6 years ago but don't let that scare you away, you can still fight this. Others have still won their claims if its over 6 years.;)

On the company number you can check these out on 'companies house' search, I have had nothing to do with these myself but don't give up just because they said 'tough', you never know you may be surprised.;)

Have you checked through these forums of others that were having problems with Barclays ?
See what they have said, or maybe someone will come along and advise you here, but like I said please don't give up.;)

If you need further help/advice just let us know hun.;)

Di.
xx