PPI Reclaiming discussion Part II

di3004

fairmorn308 wrote: »

question

can you make a claim on a loan thats still getting paid off?

Hi fairmorn308.

If you were sold Payment protection insurance with the loan, yes you can complain and make a complaint to the company for mis selling this if you have grounds for complaint. (and if your still paying it off).

Have you had the chance to check out the above "Reclaim £1,000's", this should explain more and there are also templates on that page.;)

Good luck!
Di.
x

Busta_3

fairmorn308 wrote: »

question

can you make a claim on a loan thats still getting paid off?

yes you can, two of my loans are still live and not due to finish till 2010.

di3004

OH NO:eek: , not long now and we're not gonna be able to get on here, so here's a reminder folks, if you have missed the message above:::::::::::::

The Forum is scheduled to be closed on Saturday 30th August.;)

busbyh

tiggrae wrote: »

Picture financial are in receivership - you'll have to make your complaint to the Financial Services Compensation Scheme if the loan was taken out after 15.01.2005

The details are with FSCS -sent last week, hopefully the process with them will start soon!
:rolleyes:

busbyh

marshallka wrote: »

What about the signatures on the original and then on the copy... Are Picture in liquidation now?? There is a thread here about them that may help

http://forums.moneysavingexpert.com/showthread.html?p=13678761

I cannot beleive that they have sent you out a different copy of the original agreement. I think you definately have a case and this will certainly help in your claim.

There was no seperate form to sign for the Insurance only the Loan so hopefully we do have a case

maxdp

Busta wrote: »

:j NEWSFLASH!!!

Hello all, well rang the FOS today and left a message for my adjudicator, anyhow i missed his call when he rang me back,and so he left a long message to say he had UPHELD all 5 of my loans, 2 currently live, and 3 paid off,(all between 2001 - 2005) and that a letter had been posted to me yesterday.

Anyhow missed the gym, just to come home,and check the mail, when i came home, a letter was there explaining that Halifax/BOS have accepted his recomedations of a FULL and FINAL settlement of my complaint and their doing it out of a goodwill gesture . PLEASE, anyhow he also attactched his full assessment of the case for my attention, which he sent to the BOS, he even gave examples of where they still added the sum knowing that i was consolidateing debt, so yes im way over the moon.:beer:

the only thing im thinking about now is the calacualtions, and how i will be compensated?!?

As i cant see no figures on here, is it safe to send this back to him, and then wait to see what the figures will be and how?????:rotfl:

thank you all.xxx

Hi Busta

Congratulations and well done.

One word of warning the FOS do not check figures they assume that the banks will settle as per their letter but they do not always do this. Tiggrae quoted that 7 out of 10 of these settlements are wrong so do not just accept them.

I have written confirmation were the FOS has told me "Unfortunately we are unable to provide a specific checking service of the business' redress/settlement calculations "

I have been told to sort it out with the bank concerned and if I am not happy then refer back to them.

Just a warning but hope yours gets settled quickly.:T

catinthehat1

:jBack on again - phew!!! I have been busting a gut ALL day to ask for help!!

Received a letter back from FIRSTPLUS (claim with FOS) Here goes, my comment is in blue!!
DearXXXX

Following recent contact by the Financial Ombudsman Service, we have been given the opportunity to send you a further response to your complaint regarding your payment protection insurance policy.

bla, bla (mainly they are satisfied that they sold it to us fairly!!)

We are concerned that you are unhappy.....we would like to offer an enhanced rebate of the insurance premium. the enhanced rebate that we are prepared to offer you is calculated on a pro-rata basis of 78% of the insurance premium. (not sure why it would be only 78%!!)

Our offer takes into account the time the policy has provided you with cover (16 months) and the rebate is calculated on the unexpired term remaining (44 months).We took this loan out in Aug 2004, so I'm not sure where these figures have come from!!!)

This would mean an amount of £775.27 would be applied to your account in addition to the normal rebate of £17.55 payable on cancellation of the policy. (this PPI was for £5025. over 300 months!!!!!):eek:

Then they go on to 'no admission of liability, but a gesture of goodwill'

PLEASE could someone help - my head is spinning with all sorts of scenarios - thanks in advance

spoll_2

spoll wrote: »

Well I've just sent the complaint to the FSO - will keep you updated of any progress...

My Dad just called and said he had a lette from the FSO and they have said Norton Finance weren't covered by them at the time of the loan (Feb 2006). The loan was via FirstPlus but they said the PPI was arranged by Norton - what do we do now!?

I'll need to read the letter properly when I visit this week but I guess this now doesn't look good.

marshallka

catinthehat1 wrote: »

:jBack on again - phew!!! I have been busting a gut ALL day to ask for help!!

Received a letter back from FIRSTPLUS (claim with FOS) Here goes, my comment is in blue!!
DearXXXX

Following recent contact by the Financial Ombudsman Service, we have been given the opportunity to send you a further response to your complaint regarding your payment protection insurance policy.

bla, bla (mainly they are satisfied that they sold it to us fairly!!)

We are concerned that you are unhappy.....we would like to offer an enhanced rebate of the insurance premium. the enhanced rebate that we are prepared to offer you is calculated on a pro-rata basis of 78% of the insurance premium. (not sure why it would be only 78%!!)

Our offer takes into account the time the policy has provided you with cover (16 months) and the rebate is calculated on the unexpired term remaining (44 months).We took this loan out in Aug 2004, so I'm not sure where these figures have come from!!!)

This would mean an amount of £775.27 would be applied to your account in addition to the normal rebate of £17.55 payable on cancellation of the policy. (this PPI was for £5025. over 300 months!!!!!):eek:

Then they go on to 'no admission of liability, but a gesture of goodwill'

PLEASE could someone help - my head is spinning with all sorts of scenarios - thanks in advance

God thats a joke:eek: . I hope you are going to let the FOS try to get all of it back for you. This is nothing like a 78% refund.....its not even the 22% they try to keep back for admin etc. Do you think this was meant for someone else really. They sent me a breakdown of settlement and it has all the wrong dates on and resent it again and still the wrong dates. I settled in 2003 and they had some 2004 date on it. I think they must be getting that many complaints and they are getting everything mixed up. What are you going to do.... I personally would tell them to stick it where the sun don't shine. :mad:

catinthehat1

marshallka wrote: »

God thats a joke:eek: . I hope you are going to let the FOS try to get all of it back for you. This is nothing like a 78% refund.....its not even the 22% they try to keep back for admin etc. Do you think this was meant for someone else really. They sent me a breakdown of settlement and it has all the wrong dates on and resent it again and still the wrong dates. I settled in 2003 and they had some 2004 date on it. I think they must be getting that many complaints and they are getting everything mixed up. What are you going to do.... I personally would tell them to stick it where the sun don't shine. :mad:

I have NO idea - surely, I should pass this on to FOS, and explain that I'm not accepting this and the dates etc are ALL wrong, how !!!!!! should I get with them?