PPI Reclaiming discussion Part II

HappierGirlNow

This has taken me over 3.5yrs to get to the stage where I feel that I can now write about my awful experience with SPML/SPPL now Capstone Mortgage. Approximately 5 yrs ago, I took out a 2nd mortgage on my property. At the time I was self-employed and work had dried up. I was accumulating debts abd decided[my back was against the wall] to take out a loan via Ocean Finance. I was desperate, the loan value was £17500 and with ppi totalled £20475. A year into the loan, I fell into trouble payments and SPML informed me that they would begin repossession procedures alongside Abbey National. The total in arrears £971.00. I rang SPML to explain my circumstances and I was informed by an adviser that they knew nothing of the ppi and I should contact Ocean. Also told by the adviser that I would have to register with JCP to even claim ppi. Contacted JCP who informed me that as a self-employed person, I would not be entitled to any support until I signed up with them and would have to wait 12 weeks for this to be processed.

Can anyone tell me how I should tackle Capstone. I have been over-paying my loan repayments- I want out of this loan asap. I have approximately £6000 left on the loan. I anticipate payment of this loan to be completed 12 months early. I don't care about paying an early repayment fee. This has been like a 'ball and chain' around my ankle. I'm aiming to repay the loan by April 2009 but realise that I should start the the ball rolling with my re-claim in late Oct/Nov 08. I don't want to get into any bother with this company- a really unpleasant experience.

Please can anyone provide me with some advice on how I should approach them. I will use the template letter but just need some confirmation that this is the correct approach. Any support or assistance would be greatly appreciated.

Ps. I didn't get repossessed. although I was given a D day for eviction. I re-attended court and represented myself and the eviction was suspended but I now have no arrears on my mortgages to date. I'll be sorting out the suspended eviction notice later on. I've also been able to assist another person and again avoid them being repossessed

catinthehat1

james1907 wrote: »

hi, i'm after a bit of advice please,

i sent the first template letter off on recorded delivery which got rejected quite quickly so i sent the second template letter off about 3 weeks ago this time not on recorded delivery, which i still havn't got a reply from, should i send them another letter requesting a final response before i go to the fos?

also i need to get another loan shortly, will this affect my claim in any way?

it's lloyds tsb i'm trying to claim back mis-sold ppi from.

thanks in advance,

james.

I would send them another letter (recorded) Just because FOS like to see that the company have given you 'their final response' and you have to copy FOS in with every letter you have sent/received. Did you give them a time limit in the second letter?
I'm not sure about affecting a new loan claim - I wouldn't have thought so - would your new loan be through Lloyds? hopefully, someone else better qualified will sign on and give some help:o

marshallka

Loulou1513 wrote: »

The original loan was taken out over 5 yrs. About a year before it was paid up, we borrowed some more and it was once again taken over more years. Then we borrowed some more in 2006 and that started another 5 years. I hope you underdstand. I don't explain myself very well. LOL

So when was the actual loan date of the PPI that you want to make a claim for????

james1907

hi, thanks for the response, i gave them a 14 day time limit for a response so they are over a week late, my new loan probably will be with lloyds.

james.

marshallka

james1907 wrote: »

hi, thanks for the response, i gave them a 14 day time limit for a response so they are over a week late, my new loan probably will be with lloyds.

james.

Hi James, you have to give them 8 weeks from the first letter so i would resend another letter and state that your orginal complaint was from that date and this time send it recorded delivery.

Good luck

di3004

You beat me to it Marshallka hun lol, your on top form here.....:D

Yes good luck James.;)

I have 3 PPI complaints with the FOS right now (Lloyds TSB), hope you get more luck than me with these, but if not then you too go to the FOS as soon as you receive your final response, Lloyds didn't rush with mine at the time of complaining to them so i told them I would get in touch with the ICO (Information commissioners office), they soon sped up lol....:D .

Good luck !
Di.
x

marshallka

HappierGirlNow wrote: »

This has taken me over 3.5yrs to get to the stage where I feel that I can now write about my awful experience with SPML/SPPL now Capstone Mortgage. Approximately 5 yrs ago, I took out a 2nd mortgage on my property. At the time I was self-employed and work had dried up. I was accumulating debts abd decided[my back was against the wall] to take out a loan via Ocean Finance. I was desperate, the loan value was £17500 and with ppi totalled £20475. A year into the loan, I fell into trouble payments and SPML informed me that they would begin repossession procedures alongside Abbey National. The total in arrears £971.00. I rang SPML to explain my circumstances and I was informed by an adviser that they knew nothing of the ppi and I should contact Ocean. Also told by the adviser that I would have to register with JCP to even claim ppi. Contacted JCP who informed me that as a self-employed person, I would not be entitled to any support until I signed up with them and would have to wait 12 weeks for this to be processed.

Can anyone tell me how I should tackle Capstone. I have been over-paying my loan repayments- I want out of this loan asap. I have approximately £6000 left on the loan. I anticipate payment of this loan to be completed 12 months early. I don't care about paying an early repayment fee. This has been like a 'ball and chain' around my ankle. I'm aiming to repay the loan by April 2009 but realise that I should start the the ball rolling with my re-claim in late Oct/Nov 08. I don't want to get into any bother with this company- a really unpleasant experience.

Please can anyone provide me with some advice on how I should approach them. I will use the template letter but just need some confirmation that this is the correct approach. Any support or assistance would be greatly appreciated.

Ps. I didn't get repossessed. although I was given a D day for eviction. I re-attended court and represented myself and the eviction was suspended but I now have no arrears on my mortgages to date. I'll be sorting out the suspended eviction notice later on. I've also been able to assist another person and again avoid them being repossessed

I am lost with this one.. Did you actually make a claim on the PPI at all?? Surely if you could not claim from the Job Centre then your PPI would be there to cover the repayments. Sometimes PPI does cover you for self employment if you are paying class 2 NIC i think. You would have to check your t and c's on that.

and i cannot understand this bit...

"Also told by the adviser that I would have to register with JCP to even claim ppi."
Contacted JCP who informed me that as a self-employed person, I would not be entitled to any support until I signed up with them and would have to wait 12 weeks for this to be processed.

tiggrae

james1907 wrote: »

hi, thanks for the response, i gave them a 14 day time limit for a response so they are over a week late, my new loan probably will be with lloyds.

james.

you have to give them 8 weeks before going to the FOS

HappierGirlNow

marshallka wrote: »

I am lost with this one.. Did you actually make a claim on the PPI at all?? Surely if you could not claim from the Job Centre then your PPI would be there to cover the repayments. Sometimes PPI does cover you for self employment if you are paying class 2 NIC i think. You would have to check your t and c's on that.

and i cannot understand this bit...

"Also told by the adviser that I would have to register with JCP to even claim ppi."
Contacted JCP who informed me that as a self-employed person, I would not be entitled to any support until I signed up with them and would have to wait 12 weeks for this to be processed.

I did not make a claim because the court case was in January of the year this happened and SPML notified me that they'd be taking me to court in the December prior. They also did not respond to my request for assistance over the phone. It was only after when I was going through paperwork that I remembered that PPI had been requested. I was paying class 2 NI but the point I am trying to make is that there was insufficient time. I couldn't figure out why I'd need to sign on with JCP to prove that I had no income coming in -basically I was destitute to claim ppi. The bottom line was that they didn't want to assist and hoped I wouldn't claim on the ppi and yes it worked because I didn't.

marshallka

HappierGirlNow wrote: »

I did not make a claim because the court case was in January of the year this happened and SPML notified me that they'd be taking me to court in the December prior. They also did not respond to my request for assistance over the phone. It was only after when I was going through paperwork that I remembered that PPI had been requested. I was paying class 2 NI but the point I am trying to make is that there was insufficient time. I couldn't figure out why I'd need to sign on with JCP to prove that I had no income coming in -basically I was destitute to claim ppi. The bottom line was that they didn't want to assist and hoped I wouldn't claim on the ppi and yes it worked because I didn't.

But could they argue that you could have made a claim?? Perhaps Tiggrae would be best to advise on this one. If you feel it was missold to you otherwise then you can always send the first template letter in but perhaps not use the fact that you were self employed etc. There are lots of other reasons for misselling.