PPI Reclaiming discussion Part II

woodybuzz

marshallka wrote: »

If you need to request a SAR then there is a template letter of Laini's a few pages back (i think 3 pages ??). This will get you all the info data that they hold of you.(as this was only 3 years ago then you perhaps do not need to request this info but it's up to you - sometimes it helps you keep fighting).

If you need to cancel the PPI then just write a letter to cancel but if you are going for the misselling as well then get the first template letter from here done and send it our recorded delivery as you have proof of posting. You can add in big writing too that you want to cancel the policy as of now but you are still going for misselling. Sometimes its best to write two letters as they often do not read the letters properly and just throw them to one side as another "misselling" one.

Don't be surprised when you do cancel if your payments don't go down by much and also you get very little back. As this was taken out only 3 years ago you will be able to take this complaint to the FOS so keep fighting.

Am I missing something about the payments, if she is paying £65 a month now and she cancels the policy, then surely the remaining payment will be the loan premium only. Or do the bank re calculate the loan based on the outstanding balance over the remaining term of the loan? As most of the interest is paid "up front" she will be no better off !(or at worst the same).

You can't seem to win with these people!

marshallka

woodybuzz wrote: »

Am I missing something about the payments, if she is paying £65 a month now and she cancels the policy, then surely the remaining payment will be the loan premium only. Or do the bank re calculate the loan based on the outstanding balance over the remaining term of the loan? As most of the interest is paid "up front" she will be no better off !(or at worst the same).

You can't seem to win with these people!

If this was a single premium then this premium is really another loan. You know if this is front loaded as when you cancel it most of your repayments have gone towards paying off the PPI and not the capital so they get their money from you quicker. You will have to check your t and c's for the cancellation bit and i will bet that even though you are cancelling you will most probably only get a small amount back. As regards the repayments going down then again i doubt by much as you carry on paying interest on the PPI for the full term of the policy even when cancelled. They are really loans on loans. That is why they are sooo wrong anyway. At a time when you are asking for money they induce you to needless more debt.

Fight for it and be persistent. It works and "no" you can't win unless you fight.;)

woodybuzz

marshallka wrote: »

If this was a single premium then this premium is really another loan. You know if this is front loaded as when you cancel it most of your repayments have gone towards paying off the PPI and not the capital so they get their money from you quicker. You will have to check your t and c's for the cancellation bit and i will bet that even though you are cancelling you will most probably only get a small amount back. As regards the repayments going down then again i doubt by much as you carry on paying interest on the PPI for the full term of the policy even when cancelled. They are really loans on loans. That is why they are sooo wrong anyway. At a time when you are asking for money they induce you to needless more debt.

Fight for it and be persistent. It works and "no" you can't win unless you fight.

Thanks again for your help - I shall check the terms and conditions, but still not sure under what terms to claim misselling - can she claim under naivety?

Its really frustrating that had she known that it was a loan (the PPI) on top of a loan then she would not have taken it out. She believed it was an insurance type premium that covered her for unemployment etc.

Thanks once more!

di3004

Hi folks back from shopping, post been but nothing exciting......:rolleyes:

Think the postie must have waited for me to go out lol, bet he/she thinks "oh no not Mrs Bucket's house again" pmsl........:D :rotfl: :rotfl:

dazman20032003

can anyone please tell me the address that i need to send my claim for ppi from ge capital ? cheers

di3004

dazman20032003 wrote: »

can anyone please tell me the address that i need to send my claim for ppi from ge capital ? cheers

Hi dazman

Try this;) I think this is the correct one hun.

GE Money PPI Claims
Mr Rupert Peacock
Customer Relations Manager
GE Money Consumer Lending Ltd
53-61 College Road
Harrow
Middlesex
HA1 1FB

Good luck!
Di.
x

dazman20032003

is there any time limit on when you can claim back too ?

di3004

dazman20032003 wrote: »

is there any time limit on when you can claim back too ?

For the ppi complaint the first letter is usually 8 weeks, if this is unsuccessful, send another one, and then go for 28 days, some give less on the 2nd letter.
Once you've received the final response (they should add this), and still not successful then complaint to the FOS (Complaint form).

Keep your letters of compliant strong hun.;)

Di.
x

dazman20032003

Cheers hun , is there also any time limit on how far back yopu can claim for my acc was opened in feb 1997 !!!!!

maxdp

dazman20032003 wrote: »

is there any time limit on when you can claim back too ?

6 years but I think that is six years from when the loan was finished they should keep paperwork although it is more difficult because of the content of the info they keep and this is more difficult. Others on here say 6 years from the date agreement started. I am at the moment claiming for loans etc started more than 6 years ago but finished no more than six years ago. Does that make sense:p