PPI Reclaiming discussion Part II

di3004

marshallka wrote: »

MY God, I cannot believe that one. Amir knocked out in 51 secs. :eek:

Calling it a night now myself. Its taken 10 mins to type this. Toooooo much wine. (Laini its your fault;) ).

Night all the ppi claimers club. xx

Aww damn......:eek: , he is cool though isn't he?;)

Do you watch Joe Calazaghe too hun?
He lives not far from me.;)

(Feel okay now its daytime again)......:o .

marshallka

tomothomps wrote: »

Hi, i wrote a letter to Alliance and Leicester telling them that i was mis-sold PPI and that i want to cancel it. That was 8 weeks ago, i havent heard anything back from them and when i phoned up i was told i couldnt cancel it because i had arrears on my account. Does anyone know if this is true? Can anyone help, what should i do now?

I am not aware of not being able to cancel this if there is arrears on the account either. Perhaps you would not have got the arrears without having the ppi???? I would write again and state this and send it recorded delivery as Di says.

Are you saying it was missold to you too?? If so what date was it added and was it Alliance and Leicester that actually sold the PPI to you? Was this on a loan too and was it a single premium?

marshallka

Slight hangover here ladies:o

busbyh

Hi mananged to cancel PPI and received amended payment notification. It was the 29th month into the policy and they have only reduced the loan payment by £5.68 - Can this be correct. Loan amount £35,000, PPI £8742 Appreciate any help out there

di3004

marshallka wrote: »

Slight hangover here ladies:o

PMSL........:rotfl: :rotfl: :rotfl:
Sorry hun I shouldn't laugh lol...:rotfl: :rotfl: :rotfl: .

I have not had a good drink in a little while, maybe I should try it later, it may even wake me up in the evenings.........:D :beer: .

di3004

busbyh wrote: »

Hi mananged to cancel PPI and received amended payment notification. It was the 29th month into the policy and they have only reduced the loan payment by £5.68 - Can this be correct. Loan amount £25,000, PPI £8744. Appreciate any help out there

Hi there hunni.;)
Not too certain here to be honest, if Tiggrae comes along later I'm sure she will be able to advise you here, it doesn't look right to me then I suppose it depends how they calculate this.
Don't worry hun, someone will be able to work this out for you.;)

When one of mine was cancelled the loan was £55K the PPI almost £13K, they only reduced this by about £14 a month !! Annoying !!!

Di.
x

pinknico

busbyh wrote: »

Hi mananged to cancel PPI and received amended payment notification. It was the 29th month into the policy and they have only reduced the loan payment by £5.68 - Can this be correct. Loan amount £35,000, PPI £8742 Appreciate any help out there

This is what happens with the single premium policys, you've already paid the insurance cancelling only gives you a tiny rebate in my case £19000 insurance cancelled with £2400 rebate only saves me £20 a month! Remember you will also still be paying the interest on this for the length of the loan.

I think thats right but as Di says someone in the know should be able to help.

I haven't cancelled mine yet because if I don't win my mis selling at least I can get get 50% back over the next 3 years which is more than my rebate!

marshallka

pinknico wrote: »

This is what happens with the single premium policys, you've already paid the insurance cancelling only gives you a tiny rebate in my case £19000 insurance cancelled with £2400 rebate only saves me £20 a month! Remember you will also still be paying the interest on this for the length of the loan.

I think thats right but as Di says someone in the know should be able to help.

I haven't cancelled mine yet because if I don't win my mis selling at least I can get get 50% back over the next 3 years which is more than my rebate!

There should be a thing whereby we get automatic refunds as these polices were nothing but profits for the banks etc.:mad:

I think there is something in america where if a company is fined and have been found guilty of misselling then there is a class act bought against them and instead of people opting "in" for the refunds you automatically get it back unless you opt out. Sounds like the right thing to me.

We are all in the same boat here. We are all complaining about the same thing.

busbyh

di3004 wrote: »

Hi there hunni.;)
Not too certain here to be honest, if Tiggrae comes along later I'm sure she will be able to advise you here, it doesn't look right to me then I suppose it depends how they calculate this.
Don't worry hun, someone will be able to work this out for you.;)

When one of mine was cancelled the loan was £55K the PPI almost £13K, they only reduced this by about £14 a month !! Annoying !!!

Di.
x

Looks like it could be correct them. I have no idea how it is calculated!!
Hopefully Tiggrae will know.
Thanks for your response
x

marshallka

busbyh wrote: »

Hi mananged to cancel PPI and received amended payment notification. It was the 29th month into the policy and they have only reduced the loan payment by £5.68 - Can this be correct. Loan amount £35,000, PPI £8742 Appreciate any help out there

Sounds like the PPI could have been front loaded also in that you had nearly paid it up as most of your repayments went towards the PPI and not the loan itself. I would wait for Tiggrae to confirm this but definately looks that way to me.

Take a look at front loading of policies in this here

http://www.competition-commission.org.uk/inquiries/ref2007/ppi/pdf/prov_find_app_5_2.pdf