PPI Reclaiming discussion Part II

marshallka

halifax71 wrote: »

I've queried the missing 8% and they've said

"Our offer does not include an additional 8% interest that is mentioned on the various websites assisting customers with PPI complaints. You would only earn the 8% if you had placed your monthly payments into a savings account with a very generous rate of interest. As it stands we are not offering an additional 8%, however once we have the full calculations we can discuss further."

Am i definitely entitled to this or should i cut my losses? It's about £400.

The Ombudsman and the courts would award the 8% statutory interest..:mad:

di3004

marshallka wrote: »

What are the figures again Di??

I will re-dig these back out but it was not a lot to reclaim on this one if I can remember due to a loan consolidation of going into a new loan with a loan advance where they had rebated something over £7K, think it was over £800 and something without interest to reclaim back on.;)
Cheers hun.:D

marshallka

sheena1977 wrote: »

hi i am also new to this and im am going to try to claim the insurance back on a secured loan as when we took out the unemployment cover we thought that we would be ok if we came out of work ,,, we thought wrong when my partner came out of work i claimed for all four of us on WFTC. GE money said to claim on the ins he would of had to claim Job seekers allowance. which we couldnt do as you cant have both benefits and we would of been 100s of pounds worse off , not sure where i stand with this would be grateful of any advice

I have heard this argument before about having to claim benefit and prove you are out of work.

Was this policy missold to you and did you know of this term when you signed for it. Its seems very unfair to me?? If you feel it was then send the first template letter and get the claim going.

tiggrae

dave73 wrote: »

ok im away to write my first letter to hbos to claim back my ppi do i just send it to the branch i got the loans from or do i send to head office im claiming back because of pre existing medical condition what do i need to say in first letter thanks

to their head office in Halifax - well for the moment anyway - wonder what their staff feel like to be done over by a bank !!!

di3004

BuntyB wrote: »

New to this, seeking advise for my 20 yr old daughter who took out a joint loan with her b/f a year ago for £7,000. Can't say offhand how long the loan is for but i think it is for 7 years. The monthly repayment is approx £195 which includeds PPI. She has spoken to a couple of people from the lender about the PPI and has been given conflicting answers. One did advise she could cancel the PPI and the other said she couldnt. Over the term of the loan she will be paying back over £16,000 of which approx £6,000 is for the insurance, or so she has been advised. I did find some PPI paperwork and the insurance only covers herself and not her b/f. I have asked her to either find the original copy of the loan agreement or to request another copy from the lender together with details of PPI as I think she may have a right to cancel the insurance and reclaim any payments made. Would the lender insist that she and her b/f set up independent insurance cover prior to cancellation of her existing cover with the lender? Any tips greatly appreciated

Hi there
It seems that your daughter has a complaint here.
Get writing a complaint letter who have 8 weeks to reply to this, and tell them you wish this amount to be removed from the loan (if not wanted of course), because you believe it was mis sold, the full cost was not explained which costs a very costly amount, you were not informed of the interest etc and if this loan was for more than 5 years it would have possibly only covered for the first 5 years and not the rest of the years.

(if this loan is still active - make sure your daughter gets a stand alone cheaper cover for this just to be safe).;)

There is a template site on here, let me know if you want this just to help you along.

Good luck!
Di.
x

marshallka

dave73 wrote: »

ok im away to write my first letter to hbos to claim back my ppi do i just send it to the branch i got the loans from or do i send to head office im claiming back because of pre existing medical condition what do i need to say in first letter thanks

You send it to whoever actually sold you the policy. If it was the HBOS then perhaps the head office is best. Send it recorded delivery then you have proof of posting.

tiggrae

cot1198 wrote: »

GE money taken in august 2005 - repayed in may 2006
ocean finance taken in may 2006 - repayed in july 2007

in both case walloped for PPI single premium for just over a years cover

h you should be ok then - both were covered by the Financial Ombudsman Service at both times

pinknico

tiggrae wrote: »

no I don't think so - target only transferred the assets not the liabilities

any idea on them being declared in Default yet Tiggrae?

cot1198

tiggrae wrote: »

well good luck - but dependant upon the timescales of when you took out the loan PPI - these two are amongst some of the most difficult to get money back off !!

thanks for that I would like to get it sorted sooner rather than later, but then again I'm ready for a fight because I think these people are taking advantage of their customers

di3004

When checking the FCSC site it seems they have not updated it so far, from what I can see anyway, not unless of course I am looking through the wrong section.... .

Not heard anything about Twopart/Eloan yet either of going into default :rolleyes: .