PPI Reclaiming discussion Part II

Busta_3

Hi all, just a quick one. has anyone had any luck with Halifax/BOS ppi on mortgages, and you repaid your mortgage and moved to another lender? i have a case that is apparently weeks from going to an adjudictor,so just wondering what the success rate is on this one?

any help would be nice

thanx

x

lady123_2

marshallka wrote: »

When was the first PPI actually applied to your card??

Appartly it was applied when i opened the card in March 2004, i didnt even know i had in order to make a claim, but as i wouldnt sign on, i couldnt claim anyway, it makes me sick ive been paying £20 a month for 4 years for nothing, got a message from Egg saying basicly tough, it was your fault for not cancelling it, LOL, i didnt know i had the bloody policy, arrrrrrrrrrgggggggg

di3004

heavenlygee wrote: »

Hi there Di, guys.......it's not looking good for a few of us huh!!!!

Well I got a fat letter today from the FOS (Knew it was going to be bad news- it was fat lol)

They have sent everything back to me, and have said the dates are out of it's jurisdiction!!! Blast and blast......so I'm stuck with how to proceed??

O.H is eyeing me up ; )

he is wanting his dinner....I've been trying to catch up over 12 pages wowwee (too much to do for this sitting)

So I'm not fully up to date with the goings on...so sorry if you're repeating info given

thanks

Hi there hun and sorry to hear that bad news :mad: Annoying isn't it ?

Okay, when you have a minute, remind us who the loan was with and when etc....:rolleyes: , is that okay hun, because I do know that some companies were a member of GISC before 2005, I know of someone who had handed in one of their complaints to the FOS, the FOS returned them and that person I know had then found out that that cetain firm were covered by GISC, it was explained to the FOS who are now looking into the complaint.

I am surprised though that the FOS were not aware of this until then....:rolleyes: .
This may have been Welcome finance, will have to double check.;)

marshallka

di3004 wrote: »

Hi there hun and sorry to hear that bad news :mad: Annoying isn't it ?

Okay, when you have a minute, remind us who the loan was with and when etc....:rolleyes: , is that okay hun, because I do know that some companies were a member of GISC before 2005, I know of someone who had handed in one of their complaints to the FOS, the FOS returned them and that person I know had then found out that that cetain firm were covered by GISC, it was explained to the FOS who are now looking into the complaint.

I am surprised though that the FOS were not aware of this until then....:rolleyes: .
This may have been Welcome finance, will have to double check.;)

I think it was redcats catalogue Di. I have just had to refresh on this and its sad as its just out of date. We wondered about these types of claims and if you can make your claim from a date that is within jurisdiction but Tiggrae told sarah she would have to go to the courts with the credit card one. I think someone else is also asking for one above in 2004 and its not looking good. :mad:

tiggrae

audi2 wrote: »

Hi All,
Can someone confirm for me about ‘full and final’ offers. I have had two, from two departments of the same bank – one for PPI and one for charges, both on my credit card. I am happy with the amounts (even though I think they owe more) but both departments are stating the offers are on condition that I am not to make any further claims or take any legal action against them or any of its subsidiaries, plus one department is also stating ‘This gesture of goodwill is without prejudice to our right to impose and recover default charges in the future.’

Can they legally do this?
If I put ‘Without Prejudice’ on my replies to accept the payments would this legally allow me to claim again from these departments if needed and also allow me to claim bank charges from the same bank.
I do not want to send back acceptance if the bank can stop me from being able to claim from them in the future!

Hi you can't put 'without prejudice' on your response as that would not be in acceptance of their full and final offer

di3004

lady123 wrote: »

Appartly it was applied when i opened the card in March 2004, i didnt even know i had in order to make a claim, but as i wouldnt sign on, i couldnt claim anyway, it makes me sick ive been paying £20 a month for 4 years for nothing, got a message from Egg saying basicly tough, it was your fault for not cancelling it, LOL, i didnt know i had the bloody policy, arrrrrrrrrrgggggggg

MIS-SOLD !!:mad:

Get a letter in hun, get complaining and request for a refund of this.

There is a template you can use on the front of this site.
Keep at them and tell them if they do not uphold your complaint you will take this to the financial ombudsman service to investigate !

Good luck !
Di.
x

marshallka

lady123 wrote: »

Appartly it was applied when i opened the card in March 2004, i didnt even know i had in order to make a claim, but as i wouldnt sign on, i couldnt claim anyway, it makes me sick ive been paying £20 a month for 4 years for nothing, got a message from Egg saying basicly tough, it was your fault for not cancelling it, LOL, i didnt know i had the bloody policy, arrrrrrrrrrgggggggg

Were Egg members of the GISC before 2005?? This is what we have to find out here or its a matter for the courts. As this was actually taken after 14th January, 2005 when the FSA started to regulate then your only other hope is that they were members of the general insurance standards council before that date and at the date you had the PPI applied. Will try to find out and get back to you. All this is for the complaint to be taken to the FOS if they dosay that it was applied correctly.

di3004

Hi there Tiggrae

Hope your well.

We have missed you here.:D .

gavatar

marshallka wrote: »

Yes, that exactly what i am saying. (It was a loan in itself). You are never rid of this policy until you are rid of the loan. Get the first template letter in now and make a complaint. We will all help you make your claim. It does not matter about the ticks etc. The fact remains that you were not aware it was front loaded and a single premium in that you were paying interest on this for the full term of the loan.

You make your claim against whoever sold you this policy and that is Northern Rock.

The template letter has lots of reasons on but you can edit it, add to it what you like. I always try to make the letters up myself with ideas from the templates.

Thanks for the info. I've re-read the relevant pages on this site about this, and wonder about the following:

1. It looks like I can cancel and get a part refund. Should I do this, and then claim afterwards?


According to the article on this very site:

When you try to cancel your insurance without ending the loan, some lenders make you start a new agreement. They are allowed to do this as long as the new loan is on the same or better terms and does not detriment you in any way, for example it shouldn’t be more expensive or last longer. You should ask for this to be done without making a new search on your credit file.
The FSA says: "When consumers cancel the PPI without repaying the loan, some firms will need to reissue the loan without the PPI. Firms should ensure they treat their customers fairly in relation to the terms on which they reissue the loan."

What do you think? Should I cancel the PPI and see what NR come back with?

Do I cancel this with Northern Rock, or with Pinnacle themselves?

Thanks for the help!

tiggrae

gavatar wrote: »

Hi,

I've been reading up this stuff, and it seems my PPI protection is way too expensive. I want to cancel it and get whatever I can back. I don't necessarily think I was mis-sold it, I just didn't realise what a rip off it is.

I got this loan in 2005, so I'm well beyond the 30 days cancellation option. Under cancellation it says (regarding cancelling after 30 days):

"...as long as you have not made a claim " - (I have not) - " you will be entitled to a proportion of the premium paid. The refund will not be equal to the total value of the premium you have paid for the unexpired part of the term, as more of your premium is apportioned to the early part of the policy term when we bear the most risk. Any refund in premium after you have settled your agreement will be made directly to you."

I've read that about five times and I still don't completely understand it! Help!

This was one of these "insurance + loan in one lump" things - so my loan is presumably made up of what I wanted to borrow, plus the total cost of the insurance, all with interest! Is that right?

Any advice greatly appreciated. The loan has around 7.5 years left to run.

Thanks,

Gav.:question:

As this was a loan in November 2005 they should have told you there were cheaper options then the lump sum (known as a single premium) so basically they are in contravention of the FSA's ICOB (Insurance Code of Business) which ALL BROKERS MUST COMPLY WITH and therefore, it was mis sold as they should have made you aware of the 'availability of cheaper options'. Go back to them and tell them if they don't repay all premiums in full plus interest and reduced your loan amount payments down you'll take your complaint to the FOS