PPI Reclaiming discussion Part II

di3004

pinknico wrote: »

Last I heard on here was any day now, so Monday mornings good for me!:rotfl:

At least we know they will be.:rolleyes:

Di are you still waiting for your company to be declared in default with the FCSC?

Can you remember the timescale they gave to complete a claim ?
Thanks x

Hi hun.
I emailed the FSCS last Friday and up to now Eloan have not declared default.....
Will double check on the timescales, in fact I will dig out his email and post on here, think he mentioned something about a timescale.;)

Di.
x

di3004

Pinknico

Here are some details the FSCS emailed me with last Friday.;)

Here is no reason to register with our website to obtain an update of the list of Default companies. The registration page on our website, are for members of the press who wish to be included on the mailing lists we operate, rather than consumers.

Until they are declared "in default" they will not appear in the list and due to a technical error will return an error message, which we are working on at the moment. It may take some time before we are able to declare the firm in default, the average timescale for such an investigation is up to 6 months, from the receipt of an application form.

The search for default firms is at the following address: http://www.fscs.org.uk/consumer/Default_information/

However, there are monthly press releases that are published on the website, and in the press which notify consumers of declarations.

- Senior Claims Officer
Customer Services Team
Financial Service Compensation Scheme
7th Floor, Lloyd's Chambers
1 Portsoken Street
London
E1 8BN
Tel 020 7892 7300
Fax 020 7892 7601
Email

Good afternoon,

Although we are investigating Twopart Ltd currently, they have yet to be declared "in default". Unfortunately I am unable to give a timescale of when our Insolvency team will be able to complete their investigations into Twopart Ltd. In practice this process may take up to six months to complete as we are dependant on information from other source, which are outside our jurisdiction.

I confirm that if and when we declare Twopart Ltd to be in default a notice will appear under the press releases on our website.

- Senior Claims Officer
Customer Services Team
Financial Service Compensation Scheme
7th Floor, Lloyd's Chambers
1 Portsoken Street
London
E1 8BN
Tel 020 7892 7300
Fax 020 7892 7601
Email

di3004

Just posted double, soz folks, should only be one about the FSCS now lol.

matty4113

marshallka wrote: »

Was this a loan ppi and a single premium.??

When you cancelled it did you receive a rebate on it and also can you give the details.... You can still go for misselling but what reasons??

No i didnt receive a rebate. Dont know what a single premium is... what details do you need? Happy to post

pinknico

So Picture will probably be declared before yours even though your company dissolved a while ago have I got that right? Or was it about the same time?

(Just being nosey!)

marshallka

Di, i had 4 loans with the Co-op and what annoys me here is only 1 (or maybe two if i can get them for unfair rebate) are within the jurisdiciton of the FOS. I paid in about 4 years over 7K (without the interest) in ppi and all single premiums. It makes me so annoyed that I have only been able to make a complaint about one of these and yet they were all sold exactly the same. I suppose i am lucky to have one of these to complain to the FOS about but when i look at what i paid on the others its so annoying. I just wish there was something we could do too???

If you have been missold one then surely the others are missold too?? (although i have yet to see if the FOS agrees with misselling of the one i have complained about?????)

marshallka

matty4113 wrote: »

No i didnt receive a rebate. Dont know what a single premium is... what details do you need? Happy to post

We need the loan date and amount, the PPI amount and how it was paid. ie. was it a loan added to your loan (this is single premium) if you know what i mean... Also have you now settled this loan??

All details would be great. How did they cancel this?? Did they just reduce your repayments??

Were you missold this premium in the first place? Its sounds like you did not understand as you do not know what a single premium is anyway...

Although you say you cancelled it were your repayments reduced by a certain amount and if this was a single premium you would still be paying interest on this for the full term of the loan. Was the full cost, actual cost, of the PPI preium explained to you and was this sold as an option.

As this was sold to you in 2006 you would be able to take your complaint to the FOS if they have missold and most post 2005 complaints of single premium policies are upheld.

di3004

matty4113 wrote: »

Hi
I have a loan with A&L, started repaying in 2006. In early 2007 i cancelled the ppi. Now can i claim back the ppi from 2006 to 2007 when i did pay it? It was £87 per month so had paid it for a good 8 months.
Help is appreciated.
Matt

Hi matty
There is a list of mis-selling reasons on the above RED BOX (top of page Reclaim £1,000's).

If you believe you were mis sold you can still try to complain and reclaim on this hun even if cancelled, because your money was still being paid into this account.

Check out that page hun and see if you have grounds for being mis sold.;)

Also normally with a Single PPI, this is normally thrown in with the loan which is more costly than a standalone cover where with this PPI you were paying more in interest, this can be very costly.
For instance if your loan was for over 25 years, there are some covers where they will only cover you for the first 5 years, but then you would still be paying for this over the 25 years. (This is just an example).;)

If they did not explain this to you, you may not have been eligible anyway, or you may have had separate cover to cover your finance outgoings.

Good luck !
Di.
x

di3004

pinknico wrote: »

So Picture will probably be declared before yours even though your company dissolved a while ago have I got that right? Or was it about the same time?

(Just being nosey!)

Not 100% here hun, but I think it was MAY 2008 Twopart/Eloan went into voluntary liquidation, and it also depends on the receivers as well I think.

I had the letter from the liquidators/receivers to confirm this back a month or so ago, so again its all down to how quickly the firm declare default or maybe its just waiting for this to come back from the liquidators.;)

di3004

marshallka wrote: »

Di, i had 4 loans with the Co-op and what annoys me here is only 1 (or maybe two if i can get them for unfair rebate) are within the jurisdiciton of the FOS. I paid in about 4 years over 7K (without the interest) in ppi and all single premiums. It makes me so annoyed that I have only been able to make a complaint about one of these and yet they were all sold exactly the same. I suppose i am lucky to have one of these to complain to the FOS about but when i look at what i paid on the others its so annoying. I just wish there was something we could do too???

If you have been missold one then surely the others are missold too?? (although i have yet to see if the FOS agrees with misselling of the one i have complained about?????)

We could write to the FSA perhaps ?:rolleyes:
If lots of consumers done this, it would help.:D