PPI Reclaiming discussion Part II

di3004

chez_vegas wrote: »

hi, i'm new to all this so forgive me if i'm going over old ground. took at a loan with first plus and took the ppi on the assumption it covered me for the full term. since found out that it's only five years and so intend to try to claim it back.

i've spoken to first plus and they've offered a refund of about 20% of the original premium & a reductionon the monthly ppi payment of about £8 out of around £37.

should i ignore this initial offer and plough straight in with the claim for the full amount or accept this and then claim for the remainder? will accepting the initial offer affect the outcome of anyfurther claim?

any advice gratefully accepted and much appreciated.

Hi there.

May I ask if the PPI was explained to you in any way ?
And did they make sure the cover was right for you or if you had alternate cover for this, such as at work etc ? Would this cover you if you had a pre existing health condition ? etc.

If this the case and you thought it covered you for the full term of the loan, it does not look as if it were fully explained to you and of course you have possibly paid the full cover upfront where they include this in the loan and the payments you will repay will be the same even when the 5 years are up on the PPI. When I mean the same, I mean you will still be paying the ppi in the loan amount.

I would go for the full amount of the PPI product myself hun.;)

Get a complaint letter sent in, templates are on this site, delete what does not occur to you and go for it.;)

Good luck.:D

Di.
xx

marshallka

chez_vegas wrote: »

hi, i'm new to all this so forgive me if i'm going over old ground. took at a loan with first plus and took the ppi on the assumption it covered me for the full term. since found out that it's only five years and so intend to try to claim it back.

i've spoken to first plus and they've offered a refund of about 20% of the original premium & a reductionon the monthly ppi payment of about £8 out of around £37.

should i ignore this initial offer and plough straight in with the claim for the full amount or accept this and then claim for the remainder? will accepting the initial offer affect the outcome of anyfurther claim?

any advice gratefully accepted and much appreciated.

When was this taken out? Firstplus became members of GISC in November 2001 so you could go to FOS for the claim if they say no.

chez_vegas

the loan was taken out in 2007 so should be covered by the fos.

i wasn't made aware that the cover was only for 5 years nor that i could get my own cover independent of first plus.

the main reason i need to know is that we are currently trying to sell our house and have finally, after 10 months, received an offer.

because the offer is so low there's not much difference between the equity we have and the money we'd receive & the £1000 from the initial first plus offer would help.

would accepting this affect a later claim for the full amount?

don't want to put a claim in for the full amount until we're safely moved as i don't want to give first plus a reason to be obstructive when we request that they transfer the loan to a new address.

they already stung us for £145 for a second charge certificate when we remortgaged last year and weren't very helpful so i know what they can be like.

marshallka

chez_vegas wrote: »

the loan was taken out in 2007 so should be covered by the fos.

i wasn't made aware that the cover was only for 5 years nor that i could get my own cover independent of first plus.

the main reason i need to know is that we are currently trying to sell our house and have finally, after 10 months, received an offer.

because the offer is so low there's not much difference between the equity we have and the money we'd receive & the £1000 from the initial first plus offer would help.

would accepting this affect a later claim for the full amount?

don't want to put a claim in for the full amount until we're safely moved as i don't want to give first plus a reason to be obstructive when we request that they transfer the loan to a new address.

they already stung us for £145 for a second charge certificate when we remortgaged last year and weren't very helpful so i know what they can be like.

I don't know how accepting this offer would affect your trying to reclaim the lot but i would certainly try to reclaim the lot. You first need to send a letter from here stating misselling and wait for their reply. I know why you would be worried about them transferring but it SHOULD NOT affect it. Its up to you. How long before you actually move??

How much was the PPI ???

tiggrae

chez_vegas wrote: »

the loan was taken out in 2007 so should be covered by the fos.

i wasn't made aware that the cover was only for 5 years nor that i could get my own cover independent of first plus.

the main reason i need to know is that we are currently trying to sell our house and have finally, after 10 months, received an offer.

because the offer is so low there's not much difference between the equity we have and the money we'd receive & the £1000 from the initial first plus offer would help.

would accepting this affect a later claim for the full amount?

don't want to put a claim in for the full amount until we're safely moved as i don't want to give first plus a reason to be obstructive when we request that they transfer the loan to a new address.

they already stung us for £145 for a second charge certificate when we remortgaged last year and weren't very helpful so i know what they can be like.

it really does depend upon the wording of any offer, if it talks about being in 'full and final settlement of any this or any future claim' etc. or anything like that then if accepted you would be unable to make any future reclaim against them.

pchads

i was mis-sold a single premium policy a while back and so i have writen the provider a letter asking for a full refund but they have replied to me and said


"we have recieved your letter requesting cancellation of this policy and have forwarded this to your agent, ******** services Ltd who arranged this policy on your behalf.

All matters concerning this policy must be handled by your agent."

I am confused, yes on the advice of a mortgage advice company i took out a policy...but it is not the advisers that i have the policy with. And, under the cancellation terms of the policy my statutory 30 days of writen notice must be with the administrator....which under there own description is not ******** advice services!

my question is should i let it play out or should i write back and send the second letter template? are they just being silly....i have a feeling ******** advice services will just tell me their an agent and to go back to the company i have the policy with?

p.s it only took them 4 days to reply...i know it wasn't a reply i wanted but in terms of passage of time....is that a record here?

thanks all

pchads

di3004

Wasn't sure if I added this on here or not folks, but just in case........

I had emailed Lloyds internet banking a few days ago just to make them aware that my complaint (Credit Card PPI) has been with the Financial Ombudsman service for the last few weeks.
I had done this to make them aware, well anyway a few hours after, I received a response to inform me that they had passed on my message to Credit Cards in Brighton for this to be investgated further and that I will hear from them within 9 days.
Hmm strange 9 days :rolleyes: .

Now its making me think because I've confirmed its with the FOS if they will do something about it, especially because they mentioned I should hear something within 9 days.....:rolleyes: .
I have over the weeks received email replies from them to say I would be contacted etc but never given a timescale, this was before my complaint was sent to the FOS.

I had confirmed my complaint due to their final response stated I could do this has been with the FOS for a few weeks now for further investigation.

Any thoughts folks why 9 days ? seems odd to me ?

Cheers.

Di.

tiggrae

pchads wrote: »

i was mis-sold a single premium policy a while back and so i have writen the provider a letter asking for a full refund but they have replied to me and said


"we have recieved your letter requesting cancellation of this policy and have forwarded this to your agent, ******** services Ltd who arranged this policy on your behalf.

All matters concerning this policy must be handled by your agent."

I am confused, yes on the advice of a mortgage advice company i took out a policy...but it is not the advisers that i have the policy with. And, under the cancellation terms of the policy my statutory 30 days of writen notice must be with the administrator....which under there own description is not ******** advice services!

my question is should i let it play out or should i write back and send the second letter template? are they just being silly....i have a feeling ******** advice services will just tell me their an agent and to go back to the company i have the policy with?

p.s it only took them 4 days to reply...i know it wasn't a reply i wanted but in terms of passage of time....is that a record here?

thanks all

pchads

if you're making a claim for mis selling then it's always the broker who 'sold' you the policy you should be making the claim against not the policy provider

kirsty000

I wrote a letter to GE money stating that I wish to have a refund of my Account cover insurance. I thought it was compulsory at the time, I was 18 and to be honest just signed what the sales assistant told me to sign. on the copy of the credit agreement you can see crosses that the sales assistant has made where I have to sign, so i just signed it. I was paying it for over a year when my mum noticed it and said i was paying for something i didnt need so I rang Dorothy Perkins and asked if it was compulsory they said no and i cancelled it straight away. the letter i received back said i couldnt have a refund and i couldnt contact the financial ombudsman as they have no jurisdiction on the matter, they say i should contact the Finance and Leasing Association. It was in 2003 when it was taken out if that makes any difference.
Has anyone else been in this situation? I dont know who to contact next?
thanks

tiggrae

di3004 wrote: »

Wasn't sure if I added this on here or not folks, but just in case........

I had emailed Lloyds internet banking a few days ago just to make them aware that my complaint (Credit Card PPI) has been with the Financial Ombudsman service for the last few weeks.
I had done this to make them aware, well anyway a few hours after, I received a response to inform me that they had passed on my message to Credit Cards in Brighton for this to be investgated further and that I will hear from them within 9 days.
Hmm strange 9 days :rolleyes: .

Now its making me think because I've confirmed its with the FOS if they will do something about it, especially because they mentioned I should hear something within 9 days.....:rolleyes: .
I have over the weeks received email replies from them to say I would be contacted etc but never given a timescale, this was before my complaint was sent to the FOS.

I had confirmed my complaint due to their final response stated I could do this has been with the FOS for a few weeks now for further investigation.

Any thoughts folks why 9 days ? seems odd to me ?

Cheers.

Di.

it's probable they have a backlog of queries and that's their estimate on how long it will take them to respond