PPI Reclaiming discussion Part II

m.colak

Jilbo wrote: »

Hi all!

First time on here, only came across this site yesterday and im finding it useful already! Anyway just after some advice really from anyone who has taken out a loan with HFC. In September 2003 I took a loan out with Household Bank (HFC) and was told that due to my age (I was 25 at the time!) that without taking out PPI my application would more than likely be refused. When I asked if I could try applying for the loan without PPI I was told that it would be a waste of time and unless I was willing to take out PPI I would be wasting mine and their time. At the time I was slightly annoyed that I was being forced to take out PPI however thought nothing of it since. Yesterday I came across this website and saw the section on claiming back PPI. I've used to template letter and sent it off to HFC today via recorded delivery, however my question is has anyone else out their been in a similar situation and successfully claimed PPI back or is this just me clutching at straws??

Thanks!

Check out the PPI reclaiming success stories and you see heaps of people. I would recommend that if you get a no go from HFC you should start thinking about sending a SAR (check 5 pages back for Laini's letter:D ) which will get all information pertaining to your loan back from the company giving you a more than better chance of successful beating the company.

m.colak

Kaia wrote: »

Mcolak.....mine isnt like that, I have loan amount 18,000....
.................................. .ppi amount....2021.33
.......................... monthly payment ....245.43
.......................................... APR %
........................................ over 180 months.....
...and thats it !!!!........nothing else...
no breakdowns....no total charge for loan........
no amount stated for interest (this is in 2002)
AND NO BOX OPTION FOR NO PPI REQUIRED

Kaia i have done some quick calculations and you do realise that your paying £2.21 for every pound you borrowed:eek: . Meaning an interest rate of 121%. The only time I seen an interest rate that big is via a mortage company. I mean including interest you still have over £25000 left to pay off:eek: .

tiggrae

rosemahairy wrote: »

Has anyone had to go as far as starting court proceedings in relation to getting their ppi back from any provider? i am about to proceed with court action after Yes car credit (direct auto finance) refused to refund all the insurance amount and the FOS did not regulate them at the time so were unable to help. I am taking them to court under a breach of the miss representation act 1967 on the grounds the salesman told me it was the law i have the insurances after i queried the amount on the contract. This was a false statement made to induce me into signing. Has anyone been this far yet that can give me any pointers or advice on what to expect?

Hi there, you have to get your Particulars of Claim correct - they employ top lawyers Irwin Mitchell and do provide strong defences

Absolut_Wench

Originally Posted by angelwillow
Noticed that I have Accidental Death Plan,Accident Cash Plan and Serious Injury Plan or one of my cards which I didn't ask for - can these be challenged the same way as ppi?

Originally Posted by m.colak
It you were paying a premium then yes it means insurance and if it was optional to the agreement (check your terms and conditions) you have a right to reclaim especially if you didn't want it and you had cover elsewhere.

Ah! I wonder if anyone can advise me on accident cash plan.

I'm sorting out PPI reclaims for my Dad, and found several year's worth of premiums to this plan on his Marbles card statements.

After querying this, Marbles passed me on to the administrators of this plan, who say it was taken out over the phone several years ago. I requested a recording or transcript of the conversation, but they only keep these for three years as (quote) "we feel this is a sufficient length of time for a customer to contact us should they have a query"

So - they say it was agreed over the phone, although we have no recollection (or paperwork) to back this up. It was cancelled in 2005 after they failed to take a premium (don't know why) - they wrote to Dad to tell him there was a problem, but never got a reply so they cancelled it. I suspect they wrote to our old address, which would explain why he didn't reply! If we had existing paperwork relating to this plan, I'd have sent out a change of address notification at the same time as I did all of our bank/credit cards/subscriptions/etc.

Dad was already covered with insurance for accidental death and accidental disability, plus employer cover if he were unable to work due to illness etc. So, he probably didn't need this additional cover. However, if he'd been phoned up by the bank/cc company, I daresay he'd think it was a good idea because the bank/cc company was advising it.

Is there any scope for a reclaim here? I'd appreciate any advice.

Many thanks

m.colak

tiggrae wrote: »

Hi there, you have to get your Particulars of Claim correct - they employ top lawyers Irwin Mitchell and do provide strong defences

Hi tiggrae where you been hiding recently??:rotfl:

rosemahairy

tiggrae wrote: »

Hi there, you have to get your Particulars of Claim correct - they employ top lawyers Irwin Mitchell and do provide strong defences

so its likely they are going to see me in court then? When it comes to court am i able to raise further arguements as to why the insurances should not have been added? Not only did the salesman say it was the law i have the insurances but also they were not applicable as my main income was not coming in for 12 months only 5 months and my secondary income was on a self employed basis? This is scary but i not giving up

tiggrae

m.colak wrote: »

Hi tiggrae where you been hiding recently??:rotfl:

niced to be missed, but end up spending loads of time on here and not doing my proper job !!! :cool:

tiggrae

rosemahairy wrote: »

so its likely they are going to see me in court then? When it comes to court am i able to raise further arguements as to why the insurances should not have been added? Not only did the salesman say it was the law i have the insurances but also they were not applicable as my main income was not coming in for 12 months only 5 months and my secondary income was on a self employed basis? This is scary but i not giving up

you would be better off putting as much information down as possible on the N1 Claim form - you can use a supplemental sheet if needed - you just need to put in a Statement of Truth (the same as on the bottom of the N1 Claim form) - what you might get from them is a lower offer - then it's upto you as to whether you accept or not.

marluc

tiggrae wrote: »

niced to be missed, but end up spending loads of time on here and not doing my proper job !!! :cool:

:T Nice to see you back. Thanks to you and M. Colak I have the guts to go to court. Thanks to you all, for your help and good wishes. I will let you know how things progress.
One thing I never did was to work out how much I was actually paying on my loan, as I have only taken Freedom Finance to court for the initial amount of PPI and 8% interest. I read an earlier post as to the actual amount someone was paying on the loan. I don't think I actually want to go down there, or I would be having more sleepless nights. I await July 1st with trepidation, but have my homework cut out for me in the meantime.
:rotfl: Take care everyone.

sparky0107

Hi all hope you can help received loan agreement paperwork back from GE Money Home Lending (igroup), can you good people take a look at the figures below and see if I have a chance of reclaiming PPI. Considering my wife and I get paid by our employers if we are off sick, have an accident or go into hospital

Igroup loans ltd

• Advance amount £5000

• Optional Protection Insurance £1320

• Amount of credit £6320

• Broker Fee £500

• Total £6820

• Monthly repayments £73.09

• Repayment period 300 months

• Insurance cover - Accident, sickness, hospitalization and unemployment – paying a maximum of 12 months benefit

• Term of cover 60 months

Loan started on 1st July 2003 and settled on 3rd February 2005

Do I still need to write to GE and ask for SAR to get all the final paperwork for the original loan etc? Any pointers would be graetly appreciated, sorry the post is so long