PPI Reclaiming discussion Part II

di3004

simone83 wrote: »

It was my husbands loan. From what we were told when we call up to ask it was a front loaded, single rate premuim so even though we paid it back 8 years early we were charged the whole fee.

When he took the loan he was self employed. He was also unaware that the PPI had been charged as he was single at the time, and the loan was secured he wouldnt have needed it!

Am I making sense? its all a bit confusing for me. should I write a new letter to the Gibraltar company with all the info I currently have??

Hi Simone
These companies are very crafty and regarding GIB, Marshallka maybe able to advise you with this part as she also had some problems with these.

Now I bet they did not even tell your hubby it was to be added to the loan and that he would be paying extra with the interest? - which is all very costly !

Write back hun and write down as much as possible, the more the better and keep it strong, I tell everyone that, and mention the financial ombudsman service.
I doubt if your hubby would have been covered by this policy anyway being that he was self-employed its very rare.
What does it state in the terms & conditions of this product hun ?
Have you still got them handy ?

There seems to be a few reasons to go by why this was mis sold.
They will try to deny mis selling hun, as a standard fob off, keep at them until you receive a final decision, then if unsuccessful take to the FOS.
keep a track on it by sending by recorded post.

marshallka

Right, just called and first complaint they say is something they can look into he thinks as this has been passed to an allocations team and second one has not been passed for anything yet but they have written to the company to request documents etc. So really and truely non the wiser. Oh well, just have to wait again.

di3004

marshallka wrote: »

Right, just called and first complaint they say is something they can look into he thinks as this has been passed to an allocations team and second one has not been passed for anything yet but they have written to the company to request documents etc. So really and truely non the wiser. Oh well, just have to wait again.

Some sort of answer then not...... .
Hope they can do this for you hun.;)

Do you think you can advise Simone regarding the GIB issue hun as they seem to be ignoring her ?:rolleyes:

Cheers hunni, I have added the other info, you can add more if you want to.;)

Di.
x

simone83

Thanks for this,

Dont have T&C as we stupidly thought it was over once we had paid them off!

Will get writing today and keep you updated.

Thanks again

marshallka

simone83 wrote: »

sorry am not quick enough!!

Freedom said they sent the letter to the PPI company in a letter they sent to me basic saying 'its not our fault!'

So you received a letter from this Gibraltar company that i assume is Bespoke Finance???

Did you know at the time of your loan that Freedom were only advising on the loan and the broker was Bespoke in GIB??

Sorry just reread it and you say that Freedom sent the letter to GIB..... You needed to do this yourself and also you need to send it recorded delivery (about £4.00 a time here). I would write that you feel this was missold and if you did not know that your "broker" was not Freedom and that it was a GIB company write that too. Tell them your first complaint was made to Freedom and the date it was made.

di3004

simone83 wrote: »

Thanks for this,

Dont have T&C as we stupidly thought it was over once we had paid them off!

Will get writing today and keep you updated.

Thanks again

Good luck and only just to say, if they have ignored your first letter and you know they have received it, I would personally only give them 4 weeks and not that of 8 to resolve this case as they have already had a month.;)
Tell them that you did also send a letter on so and so date and have not heard anything, maybe its because they will get back to you within the 8 weeks but another letter to be sure will do no harm.;)

(It is normally 8 weeks we should give these companies a chance to get back), so you may still hear something, did you give them a timescale on your first letter hun ?

Di.
x

simone83

My hubby says he had never heard of them before this letter! as far as we were aware the loan was with Freedom, we always called them to change things and the final cheque was made payable to them!

I will write out to Bespoke with all the original complaint details and let you know how I get on.

marshallka

simone83 wrote: »

My hubby says he had never heard of them before this letter! as far as we were aware the loan was with Freedom, we always called them to change things and the final cheque was made payable to them!

I will write out to Bespoke with all the original complaint details and let you know how I get on.

Yes please do.. We await their reply here...;) Be persistant and don't give up.

Drunky_Monkey

Drunky_Monkey wrote: »

Marshallka,

The figures are as follows:

Cash Loan - £11,000
Credit Charge - £4,350.16
Total Cash Loan - £15,350.16

PPL - £2967.91
Charge for Credit for PPL - £1,108.61
Total Insurance Loan - £4,076.52

Total Amount to pay - £19,426.68

84 payments of £231.27. Think im on payment 58.

Thanks for all the comments on Sunday, sorry I wasnt around, my 4 week old baby has been playing up all weekend. Now im at work for some peace!

The extra details that were needed are:

First Payment - 4th November 2003
Last Payment - 3rd January 2011

APR9.9%
Monthly Interest Rate 0.793%

Really appreciate all the help. I did see someone post that I could be looking at over £7k

marshallka

Drunky_Monkey wrote: »

Thanks for all the comments on Sunday, sorry I wasnt around, my 4 week old baby has been playing up all weekend. Now im at work for some peace!

The extra details that were needed are:

First Payment - 4th November 2003
Last Payment - 3rd January 2011

APR9.9%
Monthly Interest Rate 0.793%

Really appreciate all the help. I did see someone post that I could be looking at over £7k

Hi Drunkymonkey, Tiggrae would be able to check this for you and she will no doubt be on later so hang fire for a short while and and lets hope she is.:D