PPI Reclaiming discussion Part II

HKS

Thanks for all your quick responses. The loan and PPI were arranged over the phone with Halifax and then a few days later my finace met the courier at home to sign the documents.

He didn't really have clue what was going on as he hasn't much experience with financial issues! At the moment I am basing our reclaim around the fact that he was under the impression he was more likely to get the loan if he took the insurance and the fact that they didn't ask about any pre-exsisting decisions (which he has).

Many thanks again

Helen

di3004

catinthehat1 wrote: »

We are in the same situation as you - we took out our FIRSTPLUS loan 4 years ago - didn't even realise we had this on our loan, we haven't paid it off, but we are taking FP to FOS - our PPI is additional £5K

Get a complaint letter in, you have grounds for complaint, obviously you have not made a claim on this because you did not realise you had this.

Template for this is on front page, now Marshallka have confirmed they were regulated then you have nothing to lose and will hopefully gain.;)

Good luck !
Di.
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di3004

marshallka wrote: »

Hiya Helen, certainly seems like pressure selling to me. When was this loan/ppi taken out and who with...?

(ps sorry Di, you beat me to it)

lol, no problem hunni:D , I'm sure these lovely newbies appreciate all the help here and the more the better.......:D .

marshallka

HKS wrote: »

Thanks for all your quick responses. The loan and PPI were arranged over the phone with Halifax and then a few days later my finace met the courier at home to sign the documents.

He didn't really have clue what was going on as he hasn't much experience with financial issues! At the moment I am basing our reclaim around the fact that he was under the impression he was more likely to get the loan if he took the insurance and the fact that they didn't ask about any pre-exsisting decisions (which he has).

Many thanks again

Helen

Also was this a single premium PPI policy in that you pay for it in one lump sum and it only covers a certain time and yet you pay interest on this for the full term of the loan. If it was was this explained to you at the time of sale???

marshallka

For anyone new trying to make claims please note that if you do take your complaint to the FOS there is a massive waiting list (was about 6 months but i think a little longer now:eek: ) but note that some companies are offering "goodwill gestures" and these amounts are far less than you would get if you won through the FOS. If you are prepared for the wait and feel you have a strong case (most single premium policy complaints are upheld if taken after 14th January, 2005) then WAIT as you wil be put back into the position you would have been in if you had not taken the PPI at all.

HKS

marshallka wrote: »

Also was this a single premium PPI policy in that you pay for it in one lump sum and it only covers a certain time and yet you pay interest on this for the full term of the loan. If it was was this explained to you at the time of sale???

From what I can see this was a single premium policy as it is listed underneath the original loan amount and has interest applied to the total PPI amount from day one. I thought you could only claim under this heading if you had made an early repayment on the loan? Maybe I will add the fact that this wasn't explained into the letter - can you have too many reasons??!

Thanks again

Helen

di3004

HKS wrote: »

From what I can see this was a single premium policy as it is listed underneath the original loan amount and has interest applied to the total PPI amount from day one. I thought you could only claim under this heading if you had made an early repayment on the loan? Maybe I will add the fact that this wasn't explained into the letter - can you have too many reasons??!

Thanks again

Helen

Helen add everything why you believe it was mis sold, you have covered all areas then first time round.;)
And keep at them.:D

Di.
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di3004

Now where is that flipping postie AGAIN ??:mad:

evets_backwards

Hi,

I posted a letter to lloyds TSB (my local branch where I got the loan) recorded delivery. I got the letter sent back to me marked 'return to sender, opened by claims & hire, wrong postal address'.

???

What do I do know, do I need to send a copy of the letter to head office? is the time limit they have to respond in start again from when I send this letter or does it carry on from the time of my first letter to my local branch which is recorded?

di3004

evets_backwards wrote: »

Hi,

I posted a letter to lloyds TSB (my local branch where I got the loan) recorded delivery. I got the letter sent back to me marked 'return to sender, opened by claims & hire, wrong postal address'.

???

What do I do know, do I need to send a copy of the letter to head office? is the time limit they have to respond in start again from when I send this letter or does it carry on from the time of my first letter to my local branch which is recorded?

Hi there.
This will depend if its for loan ppi or credit card ppi, as there are various address for this, both me and Marshallka did add some addys here a little while back, one of us will post back hun with the correct addy details, but first could you confirm if this is loan or credit card ppi, cheers.;)

Oops edited and add here, I'm sorry I missed that part, okay its loan lol.
Di.
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