Some advice on PPI claims please...

[lisaf]

Hi All,

it's been quite a while since I've last been on!

 

I have just started dealing with a load of PPI claims for the family (total of 21)!

 

I only began on 5th oct and so far have had 16 replies

- 1 not upheld (dorothy perkins saying that they don't believe they have mis-sold),

2 who say I didn't have PPi and the rest just acknowledgements of the claims.

 

I will post up any other advances as they come in.

 

I just have a couple of questions if someone could please help me out?

 

I spoke to my brother today who stupidly has got a claim company chasing a few loans on his behalf ( lloyds).

 

He did this before he knew I was getting my teeth into the ppi business!

 

So is there any way he can get out of using them now ( he said he's signed something).

They must have requested his statements as they arrived today and clearly show he paid ppi which was 'front loaded' if that's the right term?now,

 

in nov 02 he took out 5k and

paid 1174.85 up front in ppi 'loan advance'.

In may 03 he takes out another 4139.64 and pays another ppi up front of 2212.10

.It looks as though he borrowed another 8k in feb 05 but I can't see any ppi on that statement.

 

That's as much as they've sent so far so poss more to come.

 

The loans are all paid up now so based on those figures could anyone hazard a guess what he would be owed?

Many thanks in advance

 

Lisa x

[dx100uk]

his certainly is iwith all these roled over loads

 

if you've got all the ifo to hand

 

you might want to ping ims21 to help

 

unless you're ok with the calcs yourself

 

i'd also dump the NWNF lot

 

just tell them he has chagned his mind or is moving and will come back to it:lol::lol::lol:

 

dx

 

 

if they get shirty send them £10 for the SAR

ad thats all they've done in reality?

 

 

 

dx

[lisaf]

Cheers dx. Will tell him to cancel them asap. I'm absolutely carp with the calcs so all help v v gratefully received!

[citizenB]

ims21 will be happy to advise if you send him a pm with a link to your thread. Meanwhile have a read of the single premium policy article linked in my signature, there is a Q/A section which should answer most of your questions and also spreadsheets to complete

[ims21]

Hi

 

With regard to your brother's loans, are we saying that loan 2 was taken to pay off loan 1 and give him some cash in hand and that loan 3 paid off loan 2 and gave him some cash in hand

 

OR

 

Did the loans run their course which would make them "stand alone" loans.?

 

ims

[lisaf]

Hi ims21. Im pretty sure that each loan paid off the balance of the last so no they weren't stand alone loans.

Thanx so much for looking in

[ims21]

Hi

 

Ok so they are refinancing loans and that means that in poan 2 you would almost certainly have been paying residual ppi from loan 1 and in loan 3 you would have been paying residual ppi from loans 1 and 2.

 

Have you got the agreements for each loan?

 

ims

[lisaf]

Hi ims,

 

all i have are the statements going back as far as jan02.

 

He's pretty sure he had a few loans before these other ones on this account also but maybe lloyds arent going to send any earlier than this?

 

The statements go as far as feb 06 (where he paid his loan off early).

 

1/ Jan 02 he has amount borrowed £1407.00 (doesn't mention ppi but he says he took it out on EVERYTHING - he's sure of that.

 

2/ 21/11/02 borrows £5000 and same day 'loan protection insurance loan advance' debits his loan acc also (£1174.85)

 

3/ 16/0503 £5800 balance transfer to new loan

 

4/ 16/5/03 £4139 borrowed and again same day 'loan protection insurance loan advance' debits acc (£2212)

 

5/ 27/8/04 Pays balance of loan off early

 

6/ 27/8/04 receives rebate of loan protection insurance (just noticed this now)

 

He also borrowed another £8k in feb 05 but I cant see any ppi on that and again he paid it off early (feb 06).

 

So he's obviously rec'd some back for early repayment but would he be entitled to any more?

 

Many thanks and I hope this makes some sense x

[ims21]

Hi

 

Just because these were paid off early doesn't necessarily mean that he would have had refubds on the ppi. It is far more likely in actual fact that he didn't and that it rolled on from loan to loan.

 

I would suggest that there is a lot to come back.

 

Getting hold of the information may be tricky but first of all I'd start with a call to Llloyds to try and get the details of each of the loans. I say this because quite recently a member got all he needed over the phone.

 

The information you need for each loan is...

 

1 -> Cash loan amount

 

2 ->ppi loan amount

 

3 ->Total charge for credit (ideally split between PPI and cash loan but not to worry of they can't give the split)

 

4 ->Amount of monthly repayment

 

5 -> Start date of loan

 

6 -> Term of loan as stated on the agreement.

 

ims

[lisaf]

Hi ims just to let u know that he called lloyds today and has started the claim over the phone. He said they were v helpful and will get back to him within 12 weeks.

Thanks for all your help so far x

[ims21]

You would be wise to calculate the potential refund yourself as you cannot rely on the bank to be honest with you.

 

In your phone call did you get the information I laid out above?

 

ims

[lisaf]

I'm not sure if he defo asked for everything but I did give him your list so I will double check. They did say there were 2 loans with ppi which he thought anyway. I assume they will give him a breakdown if they uphold the complaint?

I will keep u up to date !

Lisa

[lisaf]

Hi just an update on 1 of my own claims. I've made a total Boo boo:( I sent form off to cap 1 convinced it was applied for by phone and how I felt under pressure etc to take ppi but they've written back today not upholding as it was an online form and I'd obviously willingly ticked the p pi box!

So they are saying it's their final decision. I'm stumped now aren't I?

Lisa

[dx100uk]

they will ALWAYS deny the first attempt

 

you now need to do it properly!

 

fos form + SOC

 

this is why we say NEVER addin excuses that might have been the reason

the websites prob had the PPI ticked anyhow.

 

dx