PPI - Some notes for Claimants - Frequently Asked Questions & Discussion thread

[jbscotland]

Has anyone employed companies/solicitors to claw back the PPi charges?

A colleague of mine has done so. They take 25% but they seem to be quick?

Anyone got any advice?

 

I would do the writing myself but put off after default removal situation

[alanalana]

Has anyone employed companies/solicitors to claw back the PPi charges?

A colleague of mine has done so. They take 25% but they seem to be quick?

Anyone got any advice?

 

I would do the writing myself but put off after default removal situation

This site is for self help whenever possible. Some companies may be quick but I have evidence that others are taking money upfront and not performing as they promised. Your choice, your risk basically. CAG believe in fighting your own fight but using the appropriate regulatory institutions or Court and not necessarily in that order.

 

I claimed back over £10k and did not have to lose £2.5 to a claims company:D

[hellhasnofury]

Well said AA:D

 

These companies are parasites, why give them you hard earn cash that you were deceive into paying in the first place and give it to them,

 

They will do no more than you can do yourself, and have the total satisfation that you did it yourself. and not pay anybody, but yourself

 

For those that are into a quick fix, these companies may or may not get you a result. they sent the prelim,(template letter, they do not have the passion or the anger you have) the lba *template letter), this may cost them no more than the price of a stamp and possibly recorded delivery which is £1.08) The company may pay up and they take a profit:-x

 

What happens after that, will they instigate legal proceedings?????????????? and at what cost.

 

Be very wary, but at the end of the day, it is your issue, to deal with as you wish

[alanalana]

Well said AA:D

 

These companies are parasites, why give them you hard earn cash that you were deceive into paying in the first place and give it to them,

 

They will do no more than you can do yourself, and have the total satisfation that you did it yourself. and not pay anybody, but yourself

 

For those that are into a quick fix, these companies may or may not get you a result. they sent the prelim,(template letter, they do not have the passion or the anger you have) the lba *template letter), this may cost them no more than the price of a stamp and possibly recorded delivery which is £1.0:cool: The company may pay up and they take a profit:-x

 

What happens after that, will they instigate legal proceedings?????????????? and at what cost.

 

Be very wary, but at the end of the day, it is your issue, to deal with as you wish

 

well said hhnf and thanks for the backing

 

aa

[jbscotland]

I am very aware of what this site is all about.

I am aware that it is best to do this on your own accord but I wanted to establish what the general feeling was about these companies.

 

You have summarised this nicely.

Thanks

[ppinovice]

I'm new to this and like others looking for help/advice.

 

We took out a FirstPlus "top-up" secured loan in November 2006. The loan was for £64K and PPI of £16K was added. I recall asking over the phone if I needed to take the PPI to get the loan (as we were desperate) and was told that I didn't need to take out the PPI. Therefore I worry that I don't meet the definition of misselling. However, from reading this site it would appear there may have been misselling as I don't recall anyone asking me whether the PPI was suitable for me or being told I could arrange alternative cover elsewhere. I may have had similar illness cover with my job at that time (will need to check) and the loan was in joint names for my wife and I and she was unemployed at the time we took out the loan.

Another thing is that what attracted me to the PPI in the first place. I recall when it was first mentioned by the salesperson (all arranged over the phone although documents posted to me for signature) they said if I didn't claim within 5 years I would get a refund of the premium and I could do with it what I liked. I could use it to repay part of the loan or keep it for other purposes. Has anyone else heard of this ? I recently enquired about cancelling the PPI and was told the refund would not be given to me but would be used to offset part of the loan so I didn't pursue it.

I have 2.5 years to go and cash is tight for us just now. I wondered if I had any basis for a claim and if so what am I due ?

I can't afford to repay the loan or arrange alternative finance but if I was to get a refund of the interest we have paid on the premium to date together with the up front premium being waived (which is how I believe it may work but would be grateful for advice) that would be a significant result for us (app. £4 - £6K going by the calculator but it did baffle me quite a bit). However, before pursuing I wondered if anyone thought we had valid grounds, and if so on what basis and what could we expect to receive (roughly). Alternatively I may wait to the end of the 5 years but fear they will move the goalposts by then.

Thanks in advance for any advice.

Brian

[lexis200]

Have you got the agreement that you can check? I'm not too up on loans, but I'm pretty sure they have to put the loan and the PPI as two separate things on the agreement (ie not lump them as one item and then work out the interest/repayments on it).

 

It's possible that they haven't done this, and if so I believe you have a basis for miss-selling.

 

Even if you can only cancel and have the PPI offset against the loan, it's probably worth doing though - at least it'd be paid off a little more quickly.

 

Personally though I'd either dig out your copy of the agreement or CCA them for one, then get it posted up here (personal details removed) so that all the loan bods on here can have a look-see and find any problems that may be on it.

 

Lexis:)

[citizenB]

I'm new to this and like others looking for help/advice.

 

We took out a FirstPlus "top-up" secured loan in November 2006. The loan was for £64K and PPI of £16K was added. I recall asking over the phone if I needed to take the PPI to get the loan (as we were desperate) and was told that I didn't need to take out the PPI. Therefore I worry that I don't meet the definition of misselling. However, from reading this site it would appear there may have been misselling as I don't recall anyone asking me whether the PPI was suitable for me or being told I could arrange alternative cover elsewhere. I may have had similar illness cover with my job at that time (will need to check) and the loan was in joint names for my wife and I and she was unemployed at the time we took out the loan.

Another thing is that what attracted me to the PPI in the first place. I recall when it was first mentioned by the salesperson (all arranged over the phone although documents posted to me for signature) they said if I didn't claim within 5 years I would get a refund of the premium and I could do with it what I liked. I could use it to repay part of the loan or keep it for other purposes. Has anyone else heard of this ? I recently enquired about cancelling the PPI and was told the refund would not be given to me but would be used to offset part of the loan so I didn't pursue it.

I have 2.5 years to go and cash is tight for us just now. I wondered if I had any basis for a claim and if so what am I due ?

I can't afford to repay the loan or arrange alternative finance but if I was to get a refund of the interest we have paid on the premium to date together with the up front premium being waived (which is how I believe it may work but would be grateful for advice) that would be a significant result for us (app. £4 - £6K going by the calculator but it did baffle me quite a bit). However, before pursuing I wondered if anyone thought we had valid grounds, and if so on what basis and what could we expect to receive (roughly). Alternatively I may wait to the end of the 5 years but fear they will move the goalposts by then.

Thanks in advance for any advice.

Brian

 

I would suggest you start your own thread where you will not be lost in an established one. You will also receive help tailored to your own specific requirements

[IndebtdothIpart]

I was advised to cancel my Lloyds TSB PPI by registered letter. I am with a DMP, so shouldn't still be paying it (apparently). The letter was a total waste of time as Lloyds refused to sign for the letter. It came back to me this morning and I have since been advised to telephone them.

[lexis200]

I was advised to cancel my Lloyds TSB PPI by registered letter. I am with a DMP, so shouldn't still be paying it (apparently). The letter was a total waste of time as Lloyds refused to sign for the letter. It came back to me this morning and I have since been advised to telephone them.

 

Are you sure it was refused and not just 'lost'?

 

They should not be refusing mail at all - that would be a very dangerous path for them to start treading, as it would leave proof (if stuff is sent recorded) that they won't accept mail.

 

If you do phone them try and record the conversation, and I would resend the letter again as a backup. Possibly (accidentally of course) marking it 'Payment Enclosed'....

[one england captain]

i was told when i bought my car on hp in 2004 that i had to take out ppi on the car as part of the package or i wouldnt be accepted

 

now when i got this policy i didnt realise that if i got ill or injured that they would only pay my payments for 2 years maximum

 

i could have got a protection policy from my local bank to be honest butcouldnt as it was made clear that if i didnt take out the one usued by GEC i wouldnt get the finance

 

Now unfortunately i did get seriously injured in the summer of 2005 an injury that forced me to retire from work on medical grounds and all they paid was 2 years then saif they wont pay anymore as the ppi only covered me for that

I feel a bit cheeky asking

Can i claim ?

[N.P]

It sounds as though you were missold the PPI, but now you have the problem that you have actually USED the product you were sold.

 

I would think that you may now have problems claiming anything back from them.

 

It this account closed now, or is it still running?

 

If it is still running, could you possible scan up your agreement, editing out any personal information? There may be other things wrong with it.

 

 

 

N.P

[citizenB]

i was told when i bought my car on hp in 2004 that i had to take out ppi on the car as part of the package or i wouldnt be accepted

 

now when i got this policy i didnt realise that if i got ill or injured that they would only pay my payments for 2 years maximum

 

i could have got a protection policy from my local bank to be honest butcouldnt as it was made clear that if i didnt take out the one usued by GEC i wouldnt get the finance

 

Now unfortunately i did get seriously injured in the summer of 2005 an injury that forced me to retire from work on medical grounds and all they paid was 2 years then saif they wont pay anymore as the ppi only covered me for that

I feel a bit cheeky asking

Can i claim ?

 

 

I doubt any claim for mis selling would be successful in that you have had had the benefit of the policy .

[exoticplants]

Good afternoon,

I wonder if someone could help me please?

 

I took out an hsbc credit card out in 2007 and was told ppi would have to be added to the account. I have just received the summary of the insurance charges and it comes to £553.69. But my question is, in the template letter on this website it states how much the payment protection would cost over the entire term of the loan. What would this be for £2500?

I should also point out, the APR after six months was 19.9, then after two months then jumped to 22.9, but then jumped up to 24.9 after six months.

So, how would I therefore calculate the interest for all three APRs for this claim?

 

Best wishes

 

Thanks for your help in advanced.

David

Edited August 27, 2009 by exoticplants
adding extra point

[questioner]

I am just starting to hit back against DCA vultures and I have all alleged agreements in dispute.

 

Trouble is it gets a bit tricky when one is saying that the agreement is unenforcable and yet wants the PPI back This being an example ...

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/218262-cl-finance-questioner-2.html

 

Or Im I missing the point?

 

How do we say that its in dispute and yet ask for the PPI back - confusing?

 

Som DCAs have only manged to give me largely illegible application forms in s78 request but the terms indicate PPI was an issue but??

 

Is there a template to handle this bit? How can one say the docs are illegible yet say give us the dosh back?? What you we do - just have a rough stab at the amount of PPI and hope for the best?? aND WHAT IF A CREDIT SHARK AINT EVEN GOT ANY MATERIAL TO SINCERELY TELL US HOW MUCH IT COST US - SEE MY PLIGHT?

 

I was self employed when all accounts had PPI bunged on too

 

PS - I AM TOTALLY CRAP AT MATHS

 

[car2403]

The enforceability of a debt has no effect on it's existance - I'd say you are entitled to challenge enforceability, as when you win the debt will remain, while reclaiming the PPI on the agreement, which will simply help to reduce the indebtedness. (enforceable or otherwise)

[questioner]

Thanks Chris - I shall bear this in mind and try and think of how best to deal with the issue I raised.

 

I think your response means - go for the PPI and enforcment issues at the same time ...

[car2403]

Yup

[questioner]

Yup

 

Just need to learn the trick of finding out how much to claim PPI for from the vultures when no docs exist for agreements - then its .....ATTACK!!!!!!1

 

What's best - to just hazard a guestimate and if they come up with a figure if any at all ....

 

Dear vulture

 

although I cannot make out most of the illegible agreement/application material you have sent me I BELIEVE YOU MUST OWE ME A mega WAG OF £XXXXX TO MAKE UP FOR PPI misselling DUE TO THE FOLLOWING REASONS........

[car2403]

Just need to learn the trick of finding out how much to claim PPI for from the vultures when no docs exist for agreements - then its .....ATTACK!!!!!!1

 

What's best - to just hazard a guestimate and if they come up with a figure if any at all ....

 

Dear vulture

 

although I cannot make out most of the illegible agreement/application material you have sent me I BELIEVE YOU MUST OWE ME A mega WAG OF £XXXXX TO MAKE UP FOR PPI misselling DUE TO THE FOLLOWING REASONS........

 

You might need your own thread here.

 

You need to CCA them and send a SAR to get the documents showing what was/wasn't agreed to.

[questioner]

You might need your own thread here.

 

You need to CCA them and send a SAR to get the documents showing what was/wasn't agreed to.

 

 

Prob is that I have CCA'ed all of 'em and most have not managed to comply (crappy application forms etc mostly at best). If I spend a tenner on the SAR thingy they will probably say they have no data also on that score. So then??

 

Even got a few with BOS that they now say they have lost all data for- which is cool for unenforcibility YET no good for PPI gathering

 

 

I can start a new thread (just started about 8 this week already, phew..) with pleasure not sure what to call it though - bet others are in the same pickle as me eh..

 

 

With SAR do you have to send a tenner for every account a bank has for each account or does the tenner cover all accounts one has with them - I have 5 with BOS for instance?

Edited September 13, 2009 by questioner

[maybelline]

HELP NEEDED on this - I cannot find the agreement which would give the details (I presume) as to how much PPI I paid, if up front etc, so to be able to work out the calculation for the prelim letter to the bank, will the bank provide a copy and do I have to do an SAR or just ring up?

[iwannanow]

Hi

 

I have also send a SAR request to MBNA with a view of claiming back PPI as I belive I was missold, as I was self-employed at the time I took out the credit card. It has now been more than 60 days since posting the letter and I have recived no repsonse. I also send a cheque with my request to cover for any costs, and that has been cashed! In the letter I also gave notice that I want them to cancel the PPI on the account with immediate effect, and it is still being added.

 

Any advice on my next steps to take? I wanted to send them another letter stating they have 7 days to repsond, but I would like advice to make sure I am doing the right thing.

 

Thanks:)

[alanalana]

Prob is that I have CCA'ed all of 'em and most have not managed to comply (crappy application forms etc mostly at best). If I spend a tenner on the SAR thingy they will probably say they have no data also on that score. So then??

 

Even got a few with BOS that they now say they have lost all data for- which is cool for unenforcibility YET no good for PPI gathering

 

 

I can start a new thread (just started about 8 this week already, phew..) with pleasure not sure what to call it though - bet others are in the same pickle as me eh..

 

 

 

With SAR do you have to send a tenner for every account a bank has for each account or does the tenner cover all accounts one has with them - I have 5 with BOS for instance?

 

Tenner covers everything on you as an individual data subject with that organisation so if you have 1 or 5 accounts or more with them you should get all the data for a £10 fee.

[alanalana]

HELP NEEDED on this - I cannot find the agreement which would give the details (I presume) as to how much PPI I paid, if up front etc, so to be able to work out the calculation for the prelim letter to the bank, will the bank provide a copy and do I have to do an SAR or just ring up?

 

You can send a CCA request under section 77/78 of the Consumer Credit Act 1974. Please see this:

 

Results within Legislation - Statute Law Database

 

check out part VI sections 77/78 but also read up on the act itself it could help you further.

 

You can also send a SAR to ask for all the data applicable to you as a data subject. £10.00 fee but ask for everything including this:

 

You can be specific with what data you request although the Subject Access Request is really asking for everything. The Statutory fee is £10.00 Postal Order is fine but keep the details of the number for future reference. The post office will be able to confirm when it was encashed (just call 01246 542091 they will even send written confirmation if you request it) Send all correspondence by at least recorded to be signed for so you can track delivery through Royal Mail

 

You should request the following documents:

 

A true copy of your Consumer Credit Agreement with the Terms and Conditions that were applicable at the time you took the loan/card/mortgage.

 

Copies of all statements applicable to the loan/card/mortgage.

 

Copies of all correspondence that apply to you as a data subject ie letters, emails, faxes etc.

 

Copies of all recorded telephone calls or transcripts of the recordings.

 

Copies of any notes made by bank/loan company staff in their dealings with you as a data subject.

 

Do not be fobbed off by them citing issues such as relevant filing systems.

 

If they have any records/data on you as a data subject and it is held under your name, address, post code, account number/s or any other system where the data is identifiable to you then it is a relevant filing system. Even if it is a specific serial number on microfiche records and the serial number is applicable to you.

 

 

aa

Edited September 25, 2009 by alanalana
text added