PPI Reclaiming discussion Part II

Loulou1513

marshallka wrote: »

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

4/9/2003
But we also topped up that one in 2006 (I think). My head is all over the place Marshalka. I dont really know what I'm doing. Or even if I'm doing the right thing by trying to get it back!!
If each time we topped up the loan, we took it over more years, will they be classed as separate loans or nor? And what is a single insurance? Do you think thats what mine will be? My head is spinning with it all.
But thanks so much for your help.

di3004

Loulou1513 wrote: »

4/9/2003
But we also topped up that one in 2006 (I think). My head is all over the place Marshalka. I dont really know what I'm doing. Or even if I'm doing the right thing by trying to get it back!!
If each time we topped up the loan, we took it over more years, will they be classed as separate loans or nor? And what is a single insurance? Do you think thats what mine will be? My head is spinning with it all.
But thanks so much for your help.

Hi there
And sorry to butt in here, but yes they are all classed as new start again separate loans hun.;)

There is no harm in trying to reclaim this if you believe you have grounds for complaint, and have you any of the paperwork for this.
You should have different account numbers for each of these loans/loan advance.

Single insurance is a policy which is mainly front loaded as a full product and most added in with the loan itself, it can be very costly this way, and they do not tell you the full amount and about the extra interest you pay on these products.

Its far cheaper to take a stand alone cover to protect your loans, etc than what it is with these costly ppi products.

I'm sure Marshallka can also explain this one to you with her good wordings lol. She will make more sense than me today, I'm just soooo tired, hardly slept again last night......:rolleyes:

marshallka

Loulou1513 wrote: »

4/9/2003
But we also topped up that one in 2006 (I think). My head is all over the place Marshalka. I dont really know what I'm doing. Or even if I'm doing the right thing by trying to get it back!!
If each time we topped up the loan, we took it over more years, will they be classed as separate loans or nor? And what is a single insurance? Do you think thats what mine will be? My head is spinning with it all.
But thanks so much for your help.

Hi Loulou, don't get your head in a spin here. If you have been missold then you have been missold.

First a single premium policy is a policy that is sold to you alongside a loan and it is actually another loan to pay for PPI. You are then paying interest on this for the full term of the loan and also usually the premium only last for a certin number of years and not the entire loan. This alone is a reason for misselling and in this case if it was sold after 14th January, 2005 when the FSA took over regulating the sales of insurance, then most cases taken to the FOS are upheld.

As Di says here. You should have different loan number for each top up and most likely different PPI in which when you did top up you could have had to pay for the policy and most probably only got a little back.

Just have a calm down and then take a look at the paperwork and get some dates for us on here. We can then help you further.

di3004

Thanks Marshallka for explaining this well to LouLou in the above post.;)

So LouLou, just calm down hunni;) , and like Marshallka says we can help further when we know more, dates of each one etc.

You have every right to complaint and reclaim hunni, so add further info for us when your ready and help will come along.;)

Marshallks, no post yet hun, late again here I expect.:rolleyes:

marshallka

pm'd you back Di. xx

Loulou1513

di3004 wrote: »

Hi there
And sorry to butt in here, but yes they are all classed as new start again separate loans hun.;)

There is no harm in trying to reclaim this if you believe you have grounds for complaint, and have you any of the paperwork for this.
You should have different account numbers for each of these loans/loan advance.

Single insurance is a policy which is mainly front loaded as a full product and most added in with the loan itself, it can be very costly this way, and they do not tell you the full amount and about the extra interest you pay on these products.

Its far cheaper to take a stand alone cover to protect your loans, etc than what it is with these costly ppi products.

I'm sure Marshallka can also explain this one to you with her good wordings lol. She will make more sense than me today, I'm just soooo tired, hardly slept again last night......:rolleyes:

Hi there. No worries, you're not butting in. I just feel lost with all of this.
I have the actual loan agreement from the 20003 top-up and its the one I sent with my letter to the Halifax and it does have the loan ref number on it. But I cant find the actual loan agreement from the 2006 loan, only a letter with it printed on. It does have a different roll number on it, so will that be the loan agreement number? I did say I'd had 3 loans with them that all ran into each other coz we topped-up before the previous one was up.
Thanks.
P.S I have a friend who lives in your part of the country. She lives in Llandudno. Just thought I'd throw that in. LOL
Cheers.

marshallka

Loulou1513 wrote: »

Hi there. No worries, you're not butting in. I just feel lost with all of this.
I have the actual loan agreement from the 20003 top-up and its the one I sent with my letter to the Halifax and it does have the loan ref number on it. But I cant find the actual loan agreement from the 2006 loan, only a letter with it printed on. It does have a different roll number on it, so will that be the loan agreement number? I did say I'd had 3 loans with them that all ran into each other coz we topped-up before the previous one was up.
Thanks.
P.S I have a friend who lives in your part of the country. She lives in Llandudno. Just thought I'd throw that in. LOL
Cheers.

I would just write to the Halifax and ask for copies of the agreements which they have to supply. I think there is a £1 charge for this (can't be sure) or you could request a subject access request which is all the data that they hold about you for £10. This would then give you more idea.

TreeHugger

Hullooooo! 4 Weeks now and just received letter stating they want another 4 weeks. I'm thinking of increasing my complaint if they don't resolve it by the end of Sept. :mad:

marshallka

TreeHugger wrote: »

Hullooooo! 4 Weeks now and just received letter stating they want another 4 weeks. I'm thinking of increasing my complaint if they don't resolve it by the end of Sept. :mad:

How many weeks in all is that?? You have to give them 8 weeks.

Loulou1513

marshallka wrote: »

Hi Loulou, don't get your head in a spin here. If you have been missold then you have been missold.

First a single premium policy is a policy that is sold to you alongside a loan and it is actually another loan to pay for PPI. You are then paying interest on this for the full term of the loan and also usually the premium only last for a certin number of years and not the entire loan. This alone is a reason for misselling and in this case if it was sold after 14th January, 2005 when the FSA took over regulating the sales of insurance, then most cases taken to the FOS are upheld.

As Di says here. You should have different loan number for each top up and most likely different PPI in which when you did top up you could have had to pay for the policy and most probably only got a little back.

Just have a calm down and then take a look at the paperwork and get some dates for us on here. We can then help you further.

ok here goes.....

2nd sept 2003
cash loan £5,100
tota charge for credit for cash loan £1,581.00
total amount you pay for cash loan £6,681.00
total charge for credit for ins loan £338.51
insurance loan (cash price for ins) £1,516.20

annual percentage rate 10.9%
monthly interest rate 0.869%
total loan £6,277.69

Total charge for credit £1,919.51
total amount £8,197.20
date was sept 03