PPI Reclaiming discussion Part II

maxdp

GeCon wrote: »

I have received a response from the FOS, in which they suggest that the bank should:
- refund me the PPI payments and
- refund any interest charged on the premiums at the card rate.

I have collected all the information of payments made, but how do I know what interest had been charged? On some of the statements there is not even an interest rate on. Other say 18.9%, but is that not the annual rate?

???

Any help would be much appreciated.

Hi as far as I am aware FOS do not check figures and rely on lender to follow instructions in their letter. In my case that was not done get the lender to send you all their workings out and if you are not sure go back to the FOS and query it.:eek:

maxdp

di3004 wrote: »

Hi there GeCon, well done for the getting a good result.

I am aware the FOS will deal with this for you.
As soon as the company have agreed to go along with this, in my opinion they have no choice now really, if that is the final decision given by the FOS, the ombudsman will check this out to make sure the right amount is paid to you because they do request for all the calculations from the finance company.
However, Marshallka has left a post above to state that someone had got stung due to the FOS not checking this, I would do what Marshallks recommends, and defo get in touch to be reassured of this.

I remember I worried about this but it does get sorted out hun and it will be made sure that not a single penny is forgotten.;)

Hi Di

I am querying with FOS at moment about amount settled by Barclays. Have not followed recommendations in letter. As I have posted before think they rely on the fact that we should be grateful that they have graced us with money. Await reply from Lender and FOS:D

maxdp

marshallka wrote: »

Also something else to clear up on the unfair rebates things.

Who do you make the claim against??? Is it the lender of the money or the seller of the loan/PPI. ???

Hi

Remember there has been endless discussion on here some months ago about this one. Dont think there was ever a definitive answer. Most seemed to be saying it was whoever sold the Policy . Sure somebody will be able to make it clear.:rolleyes:

marshallka

maxdp wrote: »

Hi

Remember there has been endless discussion on here some months ago about this one. Dont think there was ever a definitive answer. Most seemed to be saying it was whoever sold the Policy . Sure somebody will be able to make it clear.:rolleyes:

I just want to try to get things straight for myself and others like me. Surely there are set rules...complicated but certain set ones.

Misselling - contact the seller of the PPI
Unfair rebates - contact ????????????????????????

maxdp

marshallka wrote: »

Even on Martins Guide it states if you have a complaint contact the "lender". But this statement is wrong i think, you should always contact the person that sold the PPI in the first instance for misselling but for an unfair rebate is it not the lender then that you make the complaint against.

I just want to try to get things straight for myself and others like me. Surely there are set rules...complicated but certain set ones.

Hi

Think there was debate between MColak, Petermb and gt568 (If I have their names right). Do agree it would be nice to have a final answer.:D

marshallka

maxdp wrote: »

Hi

Think there was debate between MColak, Petermb and gt568 (If I have their names right). Do agree it would be nice to have a final answer.:D

I have read further into the claim guide and it does state that the lender can then pass the complaint onto the seller of the ppi so thats good but i wondered who this "unfair rebate" complaint is to

(I know i'm always confused - lol)

I would of thought this type of complaint was against the actual lender who loaned you the money in the first place. After all they are the ones rebating you with their rules etc. on the loan agreement and the loan agreement is actually between yourself and them and not the seller.

Petermb was someone (not seen him around so much as M colak was always reporting him i think) who wanted us all to make the loans unenforceable.

M colak is away so much lately. not heard from him for ages.

maxdp

No have not seen mcolak for ages either. Thought it was whoever sold insurance as some of the reasons for mis-selling was that the people were not qualified and trained to sell these policies. Most were just telephone sales and did not take into consideration health aspects etc etc.

Have been looking back trying to find the two sides of the argument. Know Mcolak used to be quite adamant about it.lol

Been watching Olympics and getting quite excited so much so my kids have stopped having friends round 'cause I am too embarassing. Whoops

marshallka

maxdp wrote: »

No have not seen mcolak for ages either. Thought it was whoever sold insurance as some of the reasons for mis-selling was that the people were not qualified and trained to sell these policies. Most were just telephone sales and did not take into consideration health aspects etc etc.

Have been looking back trying to find the two sides of the argument. Know Mcolak used to be quite adamant about it.lol

Been watching Olympics and getting quite excited so much so my kids have stopped having friends round 'cause I am too embarassing. Whoops

Going to wait for Tiggrae on this one now. It is the seller of the insurance if you are making a complaint for misselling but i am on about if you make a complaint for receiving an unfair rebate when you settle or cancel.

bigalant

Brand newbie here only registerd a few mins ago.

I am now being hasseld by a company to "help" me get my ppi payments back.They want 560pds to help me

My ppi is about 50pds a month to cover unemployment and sickness on a mortgage loan from coventry build soc of interest only at 800pds a month.
The ppi is coverd by Norwich union who must have a deal with the coventry.

Anyone know if this PPI falls under the same rules as a bank loan re many of the threads on here.
Anyone had experiance of claiming back ppi on a mortgage loan at all and even with the Coventry/Norwich combo.

comments appreciated.

Alan

The

marshallka

bigalant wrote: »

Brand newbie here only registerd a few mins ago.

I am now being hasseld by a company to "help" me get my ppi payments back.They want 560pds to help me

My ppi is about 50pds a month to cover unemployment and sickness on a mortgage loan from coventry build soc of interest only at 800pds a month.
The ppi is coverd by Norwich union who must have a deal with the coventry.

Anyone know if this PPI falls under the same rules as a bank loan re many of the threads on here.
Anyone had experiance of claiming back ppi on a mortgage loan at all and even with the Coventry/Norwich combo.

comments appreciated.

Alan

The

Was this ppi a single premium??? Or was it just a cancellable monthly premium like an income protection thing???

We pay income protection for our mortgage and we can cancel when we like and its not a loan to pay it. Did you not want it applied and what happens if you now cancel it?