PPI Reclaiming discussion Part II

marshallka

MattClem wrote: »

Hi,

we took out a loan in september 2006 for £30,000 with Paragon. We have then re-paid £300+ per month (as the atractive early deal soon went up and up!) and had to settle the debt to re-mortgage last month. The settlement figure was £43,000+!!!

Where do I start to reclaim.....What are the basis for a legal claim etc...

These things are terrible, you think you're doing the right thing by getting insured and you just get screwed to the wall. It's bloody outrageous!

You first send off the first template letter for misselling and add delete whatever is appropiate to your claim. Then you wait for their reply and have to give them 8 weeks for a full and final response. If they say no then we take it from there. I am glad you joined us.

Matt you should be ok with this one as it was sold in 2006 and if you feel it was missold you are certainly in a better position than lots on here to get it back and the interest too.

Get doing that letter and let us know when you have. Send it recorded delivery as you have receipt and proof of posting and you make the claim against whoever sold the policy to you.

spoll_2

marshallka wrote: »

Read my post above spoll and read the bits i have now added.:j

Marshallka I think you may have hit the nail on the head here - just looking at the letters from Norton in the small print it says that Norton Finance is an appointed representative of Norton Insureance Services

I'll get in touch with the FOS again and see if this makes any difference...fingers crossed

di3004

Hi there folks.

I will post here as soon as I can, helping someone in need at home due to an emergency that occurred over the last few days......:rolleyes: , I am browsing on here off and on but back to post later.;)

Di.
xxxxx

marshallka

spoll wrote: »

Marshallka I think you may have hit the nail on the head here - just looking at the letters from Norton in the small print it says that Norton Finance is an appointed representative of Norton Insureance Services

I'll get in touch with the FOS again and see if this makes any difference...fingers crossed

I really hope so Spoll. You deserve this.;)

marshallka

di3004 wrote: »

Hi there folks.

I will post here as soon as I can, helping someone in need at home due to an emergency that occurred over the last few days......:rolleyes: , I am browsing on here off and on but back to post later.;)

Di.
xxxxx

Oh Di, i do hope everything is ok....and that you can give me some help here soon. I am getting nowt done at home but like i say, i hope its not too much of an emergency.

di3004

spoll wrote: »

Marshallka I think you may have hit the nail on the head here - just looking at the letters from Norton in the small print it says that Norton Finance is an appointed representative of Norton Insureance Services

I'll get in touch with the FOS again and see if this makes any difference...fingers crossed

Just a quickie,

Yes I would defo get back to the FOS and mention this, I do also know as mentioned before that someone had their complaint form returned from the FOS, this person has sent further copies of evidence he had on this, then the FOS agree to continue from where it was left the last time.;)
(this was about a different firm though - but still worth a shot):D .

Go for it hun and good luck !

Di.
x

catinthehat1

MattClem wrote: »

Hi,

we took out a loan in september 2006 for £30,000 with Paragon. We have then re-paid £300+ per month (as the atractive early deal soon went up and up!) and had to settle the debt to re-mortgage last month. The settlement figure was £43,000+!!!

Where do I start to reclaim.....What are the basis for a legal claim etc...

These things are terrible, you think you're doing the right thing by getting insured and you just get screwed to the wall. It's bloody outrageous!

It is bloody outrageous :eek:- we are still paying our loan - didn't even know that PPI was added -or that we had choices or that it only lasted 5 years (PPI) or that it only covered my husband - AND that we would be paying for it over 30 years, but we were desperate, not that that's an excuse, but when you see Carol Vordeman selling it on the TV - you would think she would have worked out the figures and have a conscience- as per her qualifications in Maths - rant! rant! rant! Sorry, i'm beginning to bore myself - but very angry about ALL the problems everyone is having over PPI:mad:

di3004

marshallka wrote: »

Oh Di, i do hope everything is ok....and that you can give me some help here soon. I am getting nowt done at home but like i say, i hope its not too much of an emergency.

Sorry hun....:o .
Just sent you a pm and will post further as soon as I can.;)

Di.
x

Clb3718

Hi all

I posted on here a short while ago with some problems claiming back my PPI. I have been posted some documents with sums to work out and its completely mind boggoling!!!

Can you help?

I borrowed £5,000 over 3 years at a rate of 9.2%.

The full total paid including PPI was £6444.

Bank of Scotland realised they were in the wrong and said I will be refunded all premiums, just like I had taken the loan but without insurance.

I paid my loan off early, approximately 28 months into it, and paid a settlement figure of £2,151.20. I was a couple of days late paying this settlement figure and as a result they offered to clear off the £533.80 themselves off of the outstanding balance. As my mum and dad had sold their house they offered to pay the £2151.20 in full. So basically I saved £533.80 which was great.

I received a letter from them saying "we have now calculated what your settlement figure would have been ahd you not taken out the PPi in the first place; this resulted in an amount of £1931.77. As such we have therefore deducted this figure from the amount you actually repaid as a settlement.

£2151.20 - Final amount paid 25/5/2005
£1931.77 - Recalculated settlement figure (with no PPI involved)
£219.43 - Overpayment which has been refunded to you.
________________________________

I dont understand, what about the other months where I paid PPI

Someone please help me with this or am I just going CRAZY????


If you need anymore information please ask.


Thanks
Charisse x

busbyh

Just had notification from Picture- They are now trading under:
Picture Home Loans (No1) Ltd I assume this if for existing customers as I have just spoken to them and they no longer have a sales team.All PPI claims referred to FSCS.