PPI Reclaiming discussion Part II

marshallka

jools65 wrote: »

My partner is with LLoyds.

He had a loan refinanced at the banks suggestion to make repayments easier for 6 months while his bank balance recovered after £3500 went missing. He didnt pursue it with the fraud squad after they rang him to say chip and pin fraud didnt exisit and if one transaction came back as being him, they would do him for fraud instead.

At that time he had been seeing a GP about shoulder pain and had 2 steroid injections. If that didnt work he was to see a consultant about x-rays, ultrasound and possible surgery.

The bank was told all this, the day the loan was refinanced and as my partner was self employed, asked if he would still be covered in case he was off for an operation and recovery, or possible loss of his job. The answer he got was YES.

My partner did need an op and subsequently claimed on the insurance and was turned down based on it being a pre exisiting condition. He found out that the bank seller should have printed off a different "Summary and recommendations" sheet where his shoulder had been disclosed and advised that he would not be covered should he need to claim. In that event, he would have stuck with the original loan and not paid an extra £6500 for PPI as she did not explain that it was a new term of insurance starting with the new loan but implied that the insurance would be carrying on.

For myself, i personally think she was after the £500 comission for gaining the PPI, which was why he got false information.

Needless to say he claimed he was missold the PPI. He got offered a refund of PPI paid on the 1st loan (he hadnt signed for PPI) but turned down on the 2nd one as Lloyds said that there was no evidence to suggest that the seller had been told about his shoulder condition. Basically her word against his then.
Unfortunately, the PPI for both loans, were on the same letter under the same reference. If he had said yes to the repayment of the 1st PPI, he would be agreeing to their terms of not going further with is claim for the 2nd.

The matter has gone to the Financial Ombudsman as ultimately he lost his job, cant claim for loss of employment as they deemed that through the shoulder op and that had already been turned down and cant claim even the 1st PPI back due to the way they put it in their letter.

Lloyds is refusing to believe they have done anything wrong.

Most of them refuse to accept they have done anything wrong. If you have sent this into the FOS now then let them deal with it. You have done the right thing and I think you have a good argument.

Let us know how you get on.

marshallka

Where is Tiggrae??? Hope she is OK...

carolineo55

I have just started a reclaim against 1st plus. The have said its nothing to do with them and that we purchased the consolidation loan and PPI through Central Capital. This is the 1st time we have heard of them and as i always keep paper work everything was done with First Plus. Am I being fobbed off and who is central capital?

di3004

marshallka wrote: »

Where is Tiggrae??? Hope she is OK...

Me too.....:rolleyes: its been quite some days since Tiggrae has posted....

di3004

carolineo55 wrote: »

I have just started a reclaim against 1st plus. The have said its nothing to do with them and that we purchased the consolidation loan and PPI through Central Capital. This is the 1st time we have heard of them and as i always keep paper work everything was done with First Plus. Am I being fobbed off and who is central capital?

Hi Caroline

Central Capital were probably the brokers who arranged the loan in the first place hun, so I would write to them and ask them for a copy of the agreement and a breakdown for as soon as possible.
However, the letter you sent to first plus you will need to send this to Central Capital if it were them that did arrange this for you.

Can you remember the dates you actually taken out this loan hun ?;)

marshallka

carolineo55 wrote: »

I have just started a reclaim against 1st plus. The have said its nothing to do with them and that we purchased the consolidation loan and PPI through Central Capital. This is the 1st time we have heard of them and as i always keep paper work everything was done with First Plus. Am I being fobbed off and who is central capital?

They would have told you this as you must have used a broker when you had the loan and that was Central Capital. You need to write to Central for the misselling as its always the seller of the insurance that you make the claim through. When was this taken out??

Is this Central capital
First Floor, Albert House
South Esplanade
St. Peter Port
Guernsey
Channel Islands
GY1 1AJ

Do you remember who you dealt with or do you have any paperwork for the loan now as it looks like these are based in the channel islands.

Do any of these ring a bell
Trading Name Debtbuster Loans 02/04/2005
Trading Name Independent Finance 02/04/2005
Trading Name Independent Mortgages 02/04/2005
Trading Name Loans4business 02/04/2005
Trading Name Loans4tenants 02/04/2005
Trading Name Platinum Loans 02/04/2005

as these are trading names of Central Capital.

di3004

I can really understand why people get confused regarding both the broker and the lender, like first of all I had wrote to Endeavour about them mis selling, where in fact it was their broker Click who done this.

So just to add so that you members can see, especially the newbies, usually if its mis selling its the actual broker who arranged the loan, and if you believe you've had an unfair rebate when the loan is settled, you should complain to the lender.

However, if you have a loan advance by the same lender, then its then the lender you complain to if mis sold on the 2nd loan.;)

di3004

And Click Finance ltd also has many trading names......:rolleyes: , too many to list right now !!

chrithefish

Hi All

I posted about a week ago now asking for advice with my Barclays loan and Egg card PPI claim, I have since received a letter from Barclays telling me that they will refund the PPI insurance back on to the loan as well as the interest that I have paid on it, they are also credit ting my current account with the 8% interest that I have lost out on, so as you can imagine I am very pleased.

The problem I have now is with Egg I have just received my second letter which says…..


I can confirm that card repayment protection was not pre-selected at the time of your application. I am happy to look into this for you if you can provide information to support this claim.

I can also confirm that a signature is not required under any regulation and this was the case at the time of your application.

If you are able to provide any further information which would impact the decision made I will be happy to look into this further for you. Up until any information is receive, your complaint will remain closed.


I just don’t know where to go from here apart from the financial ombudsman, the really funny thing I never ticked the box to accept PPI insurance I just did not need it, but they are adamant that I selected it, do I still have any leg to stand on. The Egg card was taken out on the 16th march 2000

Chris

marshallka

chrithefish wrote: »

Hi All

I posted about a week ago now asking for advice with my Barclays loan and Egg card PPI claim, I have since received a letter from Barclays telling me that they will refund the PPI insurance back on to the loan as well as the interest that I have paid on it, they are also credit ting my current account with the 8% interest that I have lost out on, so as you can imagine I am very pleased.

The problem I have now is with Egg I have just received my second letter which says…..


I can confirm that card repayment protection was not pre-selected at the time of your application. I am happy to look into this for you if you can provide information to support this claim.

I can also confirm that a signature is not required under any regulation and this was the case at the time of your application.

If you are able to provide any further information which would impact the decision made I will be happy to look into this further for you. Up until any information is receive, your complaint will remain closed.


I just don’t know where to go from here apart from the financial ombudsman, the really funny thing I never ticked the box to accept PPI insurance I just did not need it, but they are adamant that I selected it, do I still have any leg to stand on. The Egg card was taken out on the 16th march 2000

Chris

This is not a final response here so you need to write back anyway before going to the Ombudsman with the complaint.

Are they saying that as it not pre selected that you ticked this yourself?? You now need to add any other reasons why this was missold to you as well as this about the "tick". I would continue to argue if you are adamant that you did not take this out. Keep fighting on this and send everything recorded delivery too so you have copies. Do you have a copy of the signed agreement and tick etc??

They could also quote the limitations act here as the claim is over 6 years old if you had to take this to court. I think as egg were a bank you may be able to take this to the ombudsman though. I would ring and check but definately do not give up.

Good luck