PPI Reclaiming discussion Part II

di3004

maxdp wrote: »

OMG got two stars and did not even realise.:beer:

Well done !!:j

Congratulations hunni.....:D :beer: .

di3004

pinknico wrote: »

I know for a fact that neither of my Picture loans had seperate signed agreements for loan and PPI. 2005 AND 2006

Same on both of mine 2005 and 2006 then hun......

tiggrae

quisait wrote: »

Hi there

As far as I know when I paid off the loan there was some kind of money from the PPI put back into the settlement figure to bring it down.

Is it worth ringing the loan company to ask them what that figure was?

As for paperwork on the settlement. I did get some but I don't remember it giving a breakdown of what they refunded from the PPI

I would because you can bet your bottom dollar (what does that mean) that any rebate given you was not the full amount outstanding you and did pay for part of the ppi when you settled

tiggrae

marshallka wrote: »

Tiggrae from the agreement figures and all the rest the poster put on here then it looks like there was no PPI applied to the loan anyway. Done all the workings and if the poster got the £11K loan then their definately was not. See my posts below.

no I agree, unless more was paid then the £204 a month I wouldn't say there was any PPI

tiggrae

pinknico wrote: »

I know for a fact that neither of my Picture loans had seperate signed agreements for loan and PPI. 2005 AND 2006

are the two separated out on the agreement forms - ie in two different columns - that might be how 'separate' has been interpreted - you'd have to find the wording of the recommendation - ie does it say separate signed agreements or separate agreements

pinknico

marshallka wrote: »

About separate agreements as from May 2005.

How to tell if you have a single premium policy?
This type of policy is mainly sold with loans rather than credit or store cards. If it’s a single premium policy, the original paperwork will show the insurance as a fixed lump sum amount.
If the agreement was after May 05, you would have been asked to sign a separate agreement so you should have extra paperwork for the loan and the insurance.
It’s also noteworthy that these policies are often only valid for five years max; even if your loan term is longer, so you could get a five year policy but end up paying interest on the insurance for the full loan term! If you didn’t realise your cover only lasts / lasted for five years read the general mis-selling section for more info

my first loan was may 2005 and topped up (new loan) october 2006 and I only signed one piece of paper with both figures ( without interest!) on it.

tiggrae

pinknico wrote: »

my first loan was may 2005 and topped up (new loan) october 2006 and I only signed one piece of paper with both figures ( without interest!) on it.

I'll bet you anything they've interepreted it as just separating the two out into different columns.

Was you loan a fixed rate or variable - if it was variable they wouldn't put the interest amount in

marshallka

tiggrae wrote: »

are the two separated out on the agreement forms - ie in two different columns - that might be how 'separate' has been interpreted - you'd have to find the wording of the recommendation - ie does it say separate signed agreements or separate agreements

It says here by the competition commission

Since the into force of the Consumer Credit (Agreements)(Amendments) Regulation on 31st May 2005 an additional form of consent must be included in credit agreements to be signed by a debtor where a debtor is purchasing PPI.

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

quisait

tiggrae wrote: »

I would because you can bet your bottom dollar (what does that mean) that any rebate given you was not the full amount outstanding you and did pay for part of the ppi when you settled

Thanks.

Just tried calling but they have archived my application. Damn!

Have you had any dealings with Bank of Scotland/ AA Loans?

pinknico

tiggrae wrote: »

I'll bet you anything they've interepreted it as just separating the two out into different columns.

Was you loan a fixed rate or variable - if it was variable they wouldn't put the interest amount in

Variable, on the first agreement no interest calculations but on the top up on the term and conditions in tiny writing there are calculations of what interest you may pay on the ppi over the term of the loan but youd need a magnifying glass to see it !