PPI Reclaiming discussion Part II

marshallka

tiggrae wrote: »

a front end loaded policy means an insurance policy which has been added onto a loan - it means you pay the insurance off before the loan capital - as long as you explained on the claim form about the ppi and that's why your loan settlement was low it'll be fine

Loan settlement low??????? I am complaining about my loan settlement being toooo high...

I am was not aware of this being front loaded at the time... It must have been front loaded as our balance never came down but use of rule 78 does the same too...I have put in two complaints. One for unfair rebate of a PPI policy and one for unfair settlement of a Loan in that rule 78 was not in the terms and conditions and we never agreed to its use and it was unfair and oppressive.

Have i done something wrong here???

marshallka

NOTES TO MY COMPLAINT

I would like to add to my complaint that we requested 3 settlement figures during the time of the loan and below are the details and attached as well.
We were trapped in this contract and between the last two settlements we had made near on 18 payments of £285 odd per month and this only reduced the settlement by £477. How can this be fair??


Original loan £21163 6/01/00
Settlement as at 14/04/2001 £21220
Settlement as at 30/10/2001 £20887
Settlement as at 15/04/2003 £20410


From what i can tell, our settlement was high for three reasons, front loaded policy, unfair rebate and also use of rule of 78 at settlement of which was not stipulated in our terms and conditions and we did not agree of its use in settlement. We found this method like the OFT unfair and oppressive.
Whatever reasons this was high and certainly not rebated in a fair way as this rule caused a significant imbalance in party’s rights and obligations and was contrary to the requirement of good faith. It was biased to the lender and not in favour of the consumer at all. We had no idea of this being used and how this settlement would be worked and the contract was therefore unfair. We find this to be an unfair penalty charge and certainly not one that only covered the actual admin fees/exit fees and was excessive in relevance and did not represent the true costs incurred.



Please also note that i have a complaint in already against BARCLAYS TRADING AS FIRSTPLUS for unfair rebate of the PPI policy REF NUMBER ...... but have telephoned today and was told to send this complaint in and that it would be another complaint about them.

westie666

tiggrae wrote: »

I think the policy was probably cancelled 'out of time' (ie beyond 30 days or whatever was within the terms and conditions) and they've calculated the outstanding amount in some bizarre way probably using fairy dust, given about £2.50 as a settlement figure and then transferred the outstanding balance to the new loan

This 'policy' was cancelled about 10 days out of time.
What would you think would be my recovery amount (if it is going to be a small amount I probably would not bother - but if they have added then i'll go for it)

If you wish I can be a little more specific.

W666

marshallka

westie666 wrote: »

This 'policy' was cancelled about 10 days out of time.
What would you think would be my recovery amount (if it is going to be a small amount I probably would not bother - but if they have added then i'll go for it)

If you wish I can be a little more specific.

W666

Can you give the details of the first loan and PPI and then the second loan and dates etc and APR?? Also the settlement figures from the first loan??

emandden

can a ppi claim be "hurried" along at all.barclays have until the 8 october to reply before i can go to the f.o.s.but we are in huge poop at the moment due to our work transport being off the road for 2 weeks.and the ppi money would REALLY come in handy right now.is there any way of hurrying my claim along???

marshallka

emandden wrote: »

can a ppi claim be "hurried" along at all.barclays have until the 8 october to reply before i can go to the f.o.s.but we are in huge poop at the moment due to our work transport being off the road for 2 weeks.and the ppi money would REALLY come in handy right now.is there any way of hurrying my claim along???

Barclays are renown for being late investigating complaints from what i can gather so you will be lucky to get a response from them before hand. However, if they do not respond before 8th October then you can take your complaint to the FOS anyway without a final response.

ALso the FOS have a very long waiting list and its about 6 to 9 months (often longer) before they can settle disputes. You can ask for the fast track with them but have to be in financial diffculties and prove this along with your claim. I would get the forms downloaded now from the FOS website and fill them in ready for sending on the 8th October. You need all correspondence too and proof of any letters to and fro.

Even with the fast track it can be a few months before things are settled.

westie666

marshallka wrote: »

Can you give the details of the first loan and PPI and then the second loan and dates etc and APR?? Also the settlement figures from the first loan??

Marshalla

I will need to look out the details of the loans (I can only find the paperwork for loan 2 - will need to phone for loan 1) and get back to you tomorrow.

W666

westie666

westie666 wrote: »

Marshalla

I will need to look out the details of the loans (I can only find the paperwork for loan 2 - will need to phone for loan 1) and get back to you tomorrow.

W666

Just phoned to find out details of 1st Loan - file archived (loan ~July 05)
Current loan is for £10781.65 over 59 months @12.4% APR (current settlement £6088.80).....This loan is an increase of £281.65 compaired to my original loan, surely thats not right!!
I will check tonight to see if I can find any paperwork on the original loan (hopefully!)
W666

emandden

marshallka wrote: »

Barclays are renown for being late investigating complaints from what i can gather so you will be lucky to get a response from them before hand. However, if they do not respond before 8th October then you can take your complaint to the FOS anyway with a final response.

ALso the FOS have a very long waiting list and its about 6 to 9 months (often longer) before they can settle disputes. You can ask for the fast track with them but have to be in financial diffculties and prove this along with your claim. I would get the forms downloaded now from the FOS website and fill them in ready for sending on the 8th October. You need all correspondence too and proof of any letters to and fro.

Even with the fast track it can be a few months before things are settled.

we are in financial difficulty so i will get all forms printed now then.thank you!!

di3004

Hellooooooooo there..........:D

Thank goodness for that, all done and dusted, and ready to go in the post office for tomorrow, better wait for tomorrow to post or it will reach the FOS on the day of the deadline date from "END", so at least the FOS will receive it then by Thursday.

Requested for fast track, added all the relevant documents for this, so fingers crossed folks.

Marshallka hun I am so sorry to leave you to it today, my scanner, then printing started playing up.........:mad: , it had taken me treble the time to what I thought........:rolleyes: .

Never mind all done now !!!:D