PPI Reclaiming discussion Part II

tiggrae

gavatar wrote: »

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:



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!

by all means cancel it, but you'll probably only get a small refund. What most firms do is what is known as front end loading - in other words you think your premiums are paying X amount off the loan and a smaller part for the insurance - unlikely, as this loan has only been running for a couple of years you'll probably find you've paid nothing off your loan and all your premiums have gone to pay for the insurance - so you'll only get a small rebate

gavatar

tiggrae wrote: »

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

Blimey. OK, but in that case (I'm trying not to be dense here!) do I cancel the PPI first? Or just go straight in with the complaint? That doesn't seem to appear in the general PPI section here, so I'm confused. Thanks for the help.

marshallka

Busta wrote: »

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

Hi Busta, i have tried to look through the thread but not found anything yet. I would just sit back now and wait. Think positive and let the FOS do their work for you. Its not long now as you say.

tiggrae

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

you can still start court proceedings

tiggrae

gavatar wrote: »

Blimey. OK, but in that case (I'm trying not to be dense here!) do I cancel the PPI first? Or just go straight in with the complaint? That doesn't seem to appear in the general PPI section here, so I'm confused. Thanks for the help.

see the post above, yes by all means cancel the insurance but I will put money on it that you'll only get your monthly payments knocked down by a small amount - but cancelling the insurance will not affect your ability to make a claim

ps you cancel it with Northern Rock

Angel_A_2

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.;)

Thanks Di.....ok dinner's under control for a bit!!!! Bad wifey it's almost 8o'clock lolololol (He's in there at the mo...lolol)

Wow Marshall, you are so on the ball (big big grin) Yup it's RedflamminjoeCats!!!

Unfort, they were not GISC Members (excuse the language) so........what happens with the court process...it's so daunting!!! It's not loadsa doe, but every penny, pound helps our lil family of 3.

So am I right in thinking I should persue your direction and go for a kind of settlement???
They're such bunmkins....they'll probably throw it back at me!!!

Start the whole letter writing again with a different angle...oops somethings burning!!!!!lol

marshallka

gavatar wrote: »

Blimey. OK, but in that case (I'm trying not to be dense here!) do I cancel the PPI first? Or just go straight in with the complaint? That doesn't seem to appear in the general PPI section here, so I'm confused. Thanks for the help.

Tiggrae answered it above. You can cancel but you will only get a small refund back and still owe all the interest as well. Just get your complaint in now and let them get back to you. If they refuse it they have to send you a final response within 8 weeks of your complaint. They can give you a final response before that time and then you take your complaint to the FOS. There is a big waiting list but in the end its very often very worth it.

Ps. send all your correspondence by recorded delivery and then you have a proof of postage.

marshallka

Tiggrae Di needs an hand with her next step to Endeavour. She has not had a response from the last letter and wondered what to do next. If you read back a page or two she has written down all the details.

tiggrae

marshallka wrote: »

Tiggrae Di needs an hand with her next step to Endeavour. She has not had a response from the last letter and wondered what to do next. If you read back a page or two she has written down all the details.

you'll really got to give them 8 weeks before you can do anything, unless they've already given a final response. The FOS will reject a claim if you haven't given the business a full 8 weeks to respond. Patience is the name of the game I'm afraid

marshallka

tiggrae wrote: »

you'll really got to give them 8 weeks before you can do anything, unless they've already given a final response. The FOS will reject a claim if you haven't given the business a full 8 weeks to respond. Patience is the name of the game I'm afraid

She has received what they said was a final response to the misselling but resubmitted the complaint under unfair rebate to which they have not responded as yet. So really she had got to wait another 8 weeks again:eek: