PPI Reclaiming discussion Part II

Kaia_2

petermb wrote: »

The rule of 78 issue is in their terms and conditions and you will not be able to challenge this. however, the ppi is another issue altogether and you will certainly find success with this route. Do not seek to cliam for mis-selling as this is a hit and mis affair. There are issues surrounding ppi that are surefire and you wont miss. You will be able to challenge the loan itself with this issue.

What do you mean by mis-selling is a hit and miss and to go for other issues to guarantee winning your case?
Could you enlighten us further?
Do you mean like go for points like them having "added the charge onto the credit"...making you borrow more
and "over reliance on documentation" sent in post etc.....
unsure what you mean by this....
Kaia

m.colak

Kaia wrote: »

What do you mean by mis-selling is a hit and miss and to go for other issues to guarantee winning your case?
Could you enlighten us further?
Do you mean like go for points like them having "added the charge onto the credit"...making you borrow more
and "over reliance on documentation" sent in post etc.....
unsure what you mean by this....
Kaia

Hi kaia look at it this way if you shouldn't claim mis selling then why does Martin suggest it??. Second Petermb should and still doesn't post on his signature that he has a vested interest and actually runs a business of reclaiming PPI for people (for a commision;)).

TwinsMum_2

I have still not received my cheque that I should have received on Tuesday, did receive my free gift though that was a hamper (quite a big one) as a sorry that I had to complain (not the pen and mug that I was expecting). FirstPlus have assured cheque is in the post well it ain't been posted to me surely Postman Pat isn't that slow????? so will keep waiting.

reallylost

{quote}

Hi Sampainter,
I would say that there is a major issue that the FOS and anyone else who has advised you so far has missed. I beleive that you could challenge this entire loan because the ppi has been added into the amount of credit on a regulated agreement. As the ppi can be challenged then so can the loan itself.

As for the FOS, are you aware that this organisation is funded by the institutions themselves?[/quote]

OK petermb so what do you suggest I do now then?
The FOS said my case is now being passed to an adjudicator and could take 5 to 6 months before anything happens!

toneog

I have seen so much info on the paragon ppi rip off that i dont know which way to turn . I am after some help and direction pplllleeeaasseee !

We took a loan out through Paragon for £44k in 2005. They advised my wife to take PPi which she did and they told her that if she never claimed then she would get a lump sum returned. I think it was for £3/4000. We have been paying £500 average for 3 years ( total £ 18000 ) and we have just recieved a final settlement of £ 50000 !!!!. We spoke to paragon who told my wife that it was her fault for not using the PPi during the last 3 years !!We wrote a letter to Paragon who have told us that on the agrement we agreed to PPi and that it is tough ( not in those words ) and that it was Freedom Finance that organized the PPI.

We were trying to re-morgage and get rid of this crippling loan as we have a baby due in a few months. My wife is in a state over this and i need to sort this

Can anyone help ??????

jonnypb

sent my 1st letter 4 weeks ago to cahoot regarding recaiming ppi but haven't had anything back yet from them. How long do i give it before contacting them again? What should the next form of letter be?

m.colak

toneog wrote: »

I have seen so much info on the paragon ppi rip off that i dont know which way to turn . I am after some help and direction pplllleeeaasseee !

We took a loan out through Paragon for £44k in 2005. They advised my wife to take PPi which she did and they told her that if she never claimed then she would get a lump sum returned. I think it was for £3/4000. We have been paying £500 average for 3 years ( total £ 18000 ) and we have just recieved a final settlement of £ 50000 !!!!. We spoke to paragon who told my wife that it was her fault for not using the PPi during the last 3 years !!We wrote a letter to Paragon who have told us that on the agrement we agreed to PPi and that it is tough ( not in those words ) and that it was Freedom Finance that organized the PPI.

We were trying to re-morgage and get rid of this crippling loan as we have a baby due in a few months. My wife is in a state over this and i need to sort this

Can anyone help ??????

Ok breath a few times. I'm a recent dad too so i know what your going through. You need to ask them for a complete breakdown of the settlement figure and how much they are attributing to costs and administration fees and the same time ask for your consumer credit agreement. If in any part of the breakdown you see the label rule 78 you have a case because by that time Rule 78 had been abolished and the calculations are invalid.

You will have to find out when they became members of the FOS or if they were regulated on the date of the loan application as it depends on how you hit them on the PPI.

m.colak

jonnypb wrote: »

sent my 1st letter 4 weeks ago to cahoot regarding recaiming ppi but haven't had anything back yet from them. How long do i give it before contacting them again? What should the next form of letter be?

Was the letter sent special delivery??. Do you have proof of receipt??. If so then contact the information commisioner on the lack of response else you will have to send a hastener and give them an additional 28 days.

Laini

toneog wrote: »

I have seen so much info on the paragon ppi rip off that i dont know which way to turn . I am after some help and direction pplllleeeaasseee !

We took a loan out through Paragon for £44k in 2005. They advised my wife to take PPi which she did and they told her that if she never claimed then she would get a lump sum returned. I think it was for £3/4000. We have been paying £500 average for 3 years ( total £ 18000 ) and we have just recieved a final settlement of £ 50000 !!!!. We spoke to paragon who told my wife that it was her fault for not using the PPi during the last 3 years !!We wrote a letter to Paragon who have told us that on the agrement we agreed to PPi and that it is tough ( not in those words ) and that it was Freedom Finance that organized the PPI.



We were trying to re-morgage and get rid of this crippling loan as we have a baby due in a few months. My wife is in a state over this and i need to sort this

Can anyone help ??????

send a SAR enclosing 10pd cheque it will show all figures on your account and information of correspondence and any notes.
have you sent any letters yet.

I have been informed from another site about additional reasons why it was mis sold

hope this helps

---

Have you been Mis Sold PPI. (Some standard Conditions for PPI)

a) Payment Protection Insurance cannot be made a condition of obtaining a loan. (This is the most common reason for mis selling)

b) You are permantley resident within the United Kingdom

c) You are Over 18 and Under 65 at the commencement of your loan, and you will not reach the age of 70 during the insured term.

d) You are in Full time employment – Some policies define Full time employment as being working Over 16 Hours per week and that you have been in full time employment for at least 6 Months prior to the start date of the policy.

e) Pre Excisting Medical Conditions may also Invalidate your Policy

f) Some policies may cover if you are self employed.. Check your T & C first though.


** Latest Additions to be added to above**

1 You were not in work or self employed at the time of sale

2 You were told that you had to take the PPI out at the same time as the loan or not at all

3 You were not asked whether you had any other insurance which would cover the loan

4 You were not told you could buy PPI elsewhere to cover the loan

5 You were sold a policy which had age restrictions which you fell outside of

6 You were led to believe that Payment Protection Insurance was compulsory

7 You were told that you would stand more chance of getting the loan if you took the Payment Protection Insurance

8 It was not explained to you that there were certain exclusions within the policy that could affect you

9 You were pressured into buying the PPI

10 You paid upfront for the PPI but it was not explained that there were some PPI policies where you could pay monthly

11 Your PPI was an upfront premium and you repaid the loan early and received no refund

12 You increased your loan and the PPI was increased automatically

13 The Terms & Conditions of the small print were not fully explained to you


LOL

Laini xx:rotfl:

ps also have a good read of m colak posts he is fab!!

TwinsMum_2

jonnypb wrote: »

sent my 1st letter 4 weeks ago to cahoot regarding recaiming ppi but haven't had anything back yet from them. How long do i give it before contacting them again? What should the next form of letter be?

Hi, there I would post off your second letter if it has been 4 weeks without a reply, have they confirmed that they have received your complaint or is it the case that you have not heard anything from them.