PPI Reclaiming discussion Part II

di3004

I remember how frustrated I was last year with one of mine, mine though it was very complexed. (like all mine......:mad: :rolleyes: ).

Yet there were others dealt with within a shorter time.;)

I do think they vary though, and now the Summer Holidays are over maybe it will all suddenly move on that bit quicker, because I also remember reading on these forums over the last few weeks that there were many from the FOS on their Holidays.

Fingers crossed to all who are waiting and hope you hear something soon.;)

Di.
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Jayel

I have had a response letter from HSBC advising that they do not accept responsibility for mis-selling my PPI but have agreed to repay the amount of money I have paid on my loan to date for PPI. However they are asking me to go into a branch to restructure my loan. I am concerned that they may do another credit check, say I have now not got a reasonable enough credit rating & refuse to provide me with a loan based on the amount still outstanding as part of an opportunity to refuse to grant me the loan. My circumstances have chnged since I took out the original loan & my annual income is now only 70% of the earnings I had. The exercise is based on trying to reduce my monthly outgoings & PPI accounted for £83 per month of the £358 on the loan.

Has anyone experienced this type of response? I am concerned that the bank will use any manner of means to avoid granting my new loan to offset the money they are paying back & ask for me to repay the loan as a result of getting the PPI repaid. Any advice would be valuable.

di3004

Jayel wrote: »

I have had a response letter from HSBC advising that they do not accept responsibility for mis-selling my PPI but have agreed to repay the amount of money I have paid on my loan to date for PPI. However they are asking me to go into a branch to restructure my loan. I am concerned that they may do another credit check, say I have now not got a reasonable enough credit rating & refuse to provide me with a loan based on the amount still outstanding as part of an opportunity to refuse to grant me the loan. My circumstances have chnged since I took out the original loan & my annual income is now only 70% of the earnings I had. The exercise is based on trying to reduce my monthly outgoings & PPI accounted for £83 per month of the £358 on the loan.

Has anyone experienced this type of response? I am concerned that the bank will use any manner of means to avoid granting my new loan to offset the money they are paying back & ask for me to repay the loan as a result of getting the PPI repaid. Any advice would be valuable.

Hi there hun.

They all try this one on.

If I was you I would not do this because if you did you would be paying off both the loan, and ppi to start a new loan.

I would write back to them and tell them if they do not uphold your complaint and refund you, you will not hesitate to complain to the FOS.

Don't let them fob you off hunni, if you believe you were mis sold, just fight to get your money back.

Give us a shout if you want further help/info.;)

Di.
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marshallka

maxdp wrote: »

Hi Marshallka

It must be so frustrating for you. I am confused how the FOS work out which ones they are going to look into first. I had about six all go in Dec/Jan time. One has been sorted (well still negotiating) the others have not even been sent to an Adjudicator yet. Another sent in just one month ago and the company has already come back with an offer before it went to an adjudicator.

I wonder if when they first get the paperwork if they then write off to the companies to get SAR and if they know it is going to be easy it gets seen earlier. Also wonder if the companies once getting communication from FOS settle if they have been trying to wriggle out of it. Think they call the consumers bluff sometimes thinking we will not take it further.

I remember that somebody on here also said that the FOS is financed by the banks themselves so wonder just how fair this is:rolleyes:

Thanks for the reply maxdp. It is so annoying the length of time that it takes at the Ombudsman just to say if they can or cannot look into it. I realise there is lots of legal jargon to go through (above me) but could they perhaps employ more staff or something. I remember months ago with a complaint i had with FIrstplus that they asked for certain things from them way before informing me that it was with an adjudicator and then weeks later they did inform me that the case had been passed on. Two days after that though they wrote again to say that Firstplus only came under their jurisdiction in January, 2005 and that my complaint was outside their jursidcition. I do know that at the time though FIrstplus came under jurisdiction from the GISC so i was a little confused there. It was at the time when i could not find out who sold me the policy so it must have been something to do with that.

As regards the FOS funding, they allow so many complaints against a firm free of charge and then after they are used up i think they charge the company about £360 (used to be) per complaint and then the rest of the funding comes from annual fees payable by the companies. Thats what i read.

marshallka

Jayel wrote: »

I have had a response letter from HSBC advising that they do not accept responsibility for mis-selling my PPI but have agreed to repay the amount of money I have paid on my loan to date for PPI. However they are asking me to go into a branch to restructure my loan. I am concerned that they may do another credit check, say I have now not got a reasonable enough credit rating & refuse to provide me with a loan based on the amount still outstanding as part of an opportunity to refuse to grant me the loan. My circumstances have chnged since I took out the original loan & my annual income is now only 70% of the earnings I had. The exercise is based on trying to reduce my monthly outgoings & PPI accounted for £83 per month of the £358 on the loan.

Has anyone experienced this type of response? I am concerned that the bank will use any manner of means to avoid granting my new loan to offset the money they are paying back & ask for me to repay the loan as a result of getting the PPI repaid. Any advice would be valuable.

When was this loan taken out?

They say they will repay the PPI to date and redo the loan but what about the interest on the PPI that you have paid and still paying if you are still paying the loan????

Like Di says, i would go back to the FOS as they are more likely to put you back into the position as if you never had the PPI at all.

di3004

marshallka wrote: »

Thanks for the reply maxdp. It is so annoying the length of time that it takes at the Ombudsman just to say if they can or cannot look into it. I realise there is lots of legal jargon to go through (above me) but could they perhaps employ more staff or something. I remember months ago with a complaint i had with FIrstplus that they asked for certain things from them way before informing me that it was with an adjudicator and then weeks later they did inform me that the case had been passed on. Two days after that though they wrote again to say that Firstplus only came under their jurisdiction in January, 2005 and that my complaint was outside their jursidcition. I do know that at the time though FIrstplus came under jurisdiction from the GISC so i was a little confused there. It was at the time when i could not find out who sold me the policy so it must have been something to do with that.

As regards the FOS funding, they allow so many complaints against a firm free of charge and then after they are used up i think they charge the company about £360 (used to be) per complaint and then the rest of the funding comes from annual fees payable by the companies. Thats what i read.

See this is it, if they were under jurisdiction from the GISC, I know this complaint should really be looked at, and know others have pointed this out to the FOS, if prior to Jan 2005 and there has not been a problem with them looking at it, but yes its good to know once and for all, very frustrating, just a yes or a no would do......:rolleyes: .

maxdp

marshallka wrote: »

Thanks for the reply maxdp. It is so annoying the length of time that it takes at the Ombudsman just to say if they can or cannot look into it. I realise there is lots of legal jargon to go through (above me) but could they perhaps employ more staff or something. I remember months ago with a complaint i had with FIrstplus that they asked for certain things from them way before informing me that it was with an adjudicator and then weeks later they did inform me that the case had been passed on. Two days after that though they wrote again to say that Firstplus only came under their jurisdiction in January, 2005 and that my complaint was outside their jursidcition. I do know that at the time though FIrstplus came under jurisdiction from the GISC so i was a little confused there. It was at the time when i could not find out who sold me the policy so it must have been something to do with that.

As regards the FOS funding, they allow so many complaints against a firm free of charge and then after they are used up i think they charge the company about £360 (used to be) per complaint and then the rest of the funding comes from annual fees payable by the companies. Thats what i read.

I know it is very confusing:rolleyes: That is how they work it out did not realise that. It will be funny when mine are all sorted (whichever way). Shall miss this siteand the regulars. Also the aggro which can be quite entertaining:D

marshallka

maxdp wrote: »

I know it is very confusing:rolleyes: That is how they work it out did not realise that. It will be funny when mine are all sorted (whichever way). Shall miss this siteand the regulars. Also the aggro which can be quite entertaining:D

You will have to stay around and help the others with theirs then...;)

bodacia

Help need. i bought acomputer from pc world paying with my debit card.
salesman told me i had three months free insurance he asked me if i had a credit card i said yes but only for amergencies as it was a secondery card on my daughters account i had no idea he wanted it for this policy agreement i have since written to the firm but not getting any satifaction can any one help regarding this

ammeraslam

marshallka wrote: »

Have you signed a contract with Conkers now?? What have they actually recovered back for you?? I don't quite understand this??

If you asked them to do this then this is how some of these claims companies can rip you off.

Yes I signed a contract for them do recover the money for me but what I didn't know was that they were going to charge me for canceling the PPI that I could have done. I wrote a letter to them on the 12/08/2008 and have not received a reply to it all the sent me was a final notice before getting bailiffs involved. They say they got me in compensation £1117.20p thy say it is made up of two parts 1st is £488.38 which I will receive in cheque and the 2nd part is £628.82p which is the removal of the rest of the PPI. My argument with them is that the removal I could have done myself so am I being charged for it. I have received the cheque for £488.38p if I pay them there charges with they say is £328.18 (25%+vat on £1117.20) I'll be left with £160.20p