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PPI Reclaiming discussion
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I have just recived a reply back from Crapital One on reclaiming my ppi charges on my credit card..
It states that they do not belive i have been misold ppi on my account as when i activated the account by telephone customers are asked to hear a ltd version of the terms and condidtions whilst on the phone and the full list would have been sent by post..
in dec 03!! they said i dont fall in the catogary of those missold ppi as these people have already been contacted and action has been taken..
Any adviced from any body would be appriciated..do i just leave it or send a second letter then take it to the FO?
Dont really know where i stand as cant remeber details for 2003!!!
If I were you I would send a second letter. Then I would send a letter to FOS. You got nothing to lose. Good Luck:wave:0 -
PLESE PLEASE give me some advice. If you guys don't help I have no-one else to check with...
I have a loan with 1st Plus for 300 months (stupud!), and the insurance I have since found out only covers 60 of these. Having read the policy document, it does say that 1st Plus do a cashback on the PPI if you don't claim in these 60 months, and they have confirmed that this will happen.
However, the policy in the first place was mis-sold as I had no idea it would only cover the first 60 months - I would never had started it and paid £12K for something that covered for only 1/5th of the policy term.
So the original loan was for £50k
The PPI total was £12,245
They have told me on the 23rd October I will receive 'Cashback' of the PPI MINUS a 5% insurance tax premium - so it's not quite the full amount.
BUT, the total amount of the loan was calculated at £62,245 (including the PPI), so I will still be paying interest on the PPI amount for the remaining term of my loan.
This is such a rip off as I calculated that I will have paid over £30k in re-payments just for the PPI (my calculations are very rough)
Do I have a case in somehow making 1st plus not calculate interest on the PPI amount for the remainder of my policy? Because I shouldn't have had the policy in the first place, surely the interset should be calculated on the £50k that I actually wanted and received. 1st Plus will be sending the 'cashback' cheque in October - but should I be writing to them and arguing for more?
I hope this makes sense. I'm terrible with financial information and understanding their documents, hence the mess I am in!
Any advice would be appreciated.
I would strongly recommend the Subject Access route this is where you are sent all telephone recordings and correspondence on your file for a fee of £10. You can listen to the phone calls and they will also send you a transcript of the calls. We did and they do not tell you all the info they should in my opinion. They sparkle up the PPI to make you buy it, its a selling technique a very fishy one I might add. !!!!!! Turpin would have been proud. I do believe that my phone calls were not all that should have been.
Check out the FSA website its very good and full of information.:wave:0 -
Still no reply to my second letter, will prepare my complaint to the ombudsman soon.:wave:0
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I have sent my first letter to Barclays bank on 30/08/07 to reclaim my person loan payment protection policy £510, which I have closed on June 2005.
Today I have received an Endowment Mortgage Questionnaires (16 pages) and letter of Authority, which they asked me to filled and send back.
They are saying in subject line “Unknown Endowment Policy Provider: Unknown Policy Number”, but I already send them the Barclays policy number.
I am not clear about their questionnaires, and it is meant for a mortgage.
Few questions are:
Type of plan?
Is it a low start plan?
Life/lives assured?
Is the policy still being used as a means to repay your mortgage?
If no, please state when you changed your mortgage & why you decided to change?
Has the policy been surrendered?
Name of mortgage lender?Total Debts - £11697.29
Total Savings - £4500.00
Total Assets value - £26126.620 -
I took a lone out from Freedom Finance/ First Plus for 18k. I paid this back early maybe only after 18 months, the total i paid back was £22506.85 as all the ppi had to be paid. Somehow this dosn't seem right. Has anyone else had the same problem or tried to claim??0
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I had a car loan with Welcome Finance which included PPI. We then took out a further secured loan and transferred the balance of the car loan onto this loan so that only one loan was payable. I have looked through my paperwork but cannot see a credit of any PPI from the original car loan on the fince documentation for the loan. Should they have credited this first and then worked out the PPI on the secured loan? Also can you cancel PPI at any time during a loan - as just looked and realised was charged another £4000+ for the PPI and that adds up to some serious money with interest. Thanks.0
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Can anyone tell me if they have any success in claiming from Welcome finance?
Thank you 0 -
Hi,
I have just emailed Egg and requested a repayment from my credit card repayment protection.
I can specifically remember ticking all relevant boxes when applying for the card, stating that I did not want the protection.
I can also remember shortly after applying for my card, I received a phone call from somebody at Egg asking if I was sure I did not want it. Again I specifically said I did not want it.
Even after this I checked my account and they have applied the repayment protection anyway?! This has gone on for nearly year, but I have only just had this highlighted and thought I would check it out.
I have emailed them, stating what happened and will now await the outcome...0 -
sweetchilly wrote: »I have sent my first letter to Barclays bank on 30/08/07 to reclaim my person loan payment protection policy £510, which I have closed on June 2005.
Today I have received an Endowment Mortgage Questionnaires (16 pages) and letter of Authority, which they asked me to filled and send back.
They are saying in subject line “Unknown Endowment Policy Provider: Unknown Policy Number”, but I already send them the Barclays policy number.
I am not clear about their questionnaires, and it is meant for a mortgage.
Few questions are:
Type of plan?
Is it a low start plan?
Life/lives assured?
Is the policy still being used as a means to repay your mortgage?
If no, please state when you changed your mortgage & why you decided to change?
Has the policy been surrendered?
Name of mortgage lender?
I'm no expert, but I think it's pretty clear they've sent you wrong information.0 -
Hi we must have literally been typing at the same time about Welcome.
I too have took out two loans with them and have paid off one early.
Just phoned them for up-to-date statement on both accounts and asked for all transactions and breakdown of PPI to be posted to me.
Have then downloaded forms and highlighted reasons for mis-sold products. I think we have a good case against them..keep in touch.0
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