Picture Loan reclaiming PPI - Help

[Mercedes61]

Hi,

 

I've just come across this site and amazed at how many ppl are/were in my position. I am a new user.

 

I too have a Picture Loan and was wondering if it is to late to apply for PPI refund?

I previously had a picture loan in my sole name. My partner and I decided to consolidate our debts and take out a joint loan.

 

Picture added what was outstanding from my single loan to the joint loan. The agreement said the PPI was optional and we said we did not want it. The PPI was still added to the loan. We paid off what we thought was the loan and Picture insisted we still owed just short of £20,000. which happened to be the exact amount of the PPI.

 

Technically we are now paying PPI for a loan we do not even have. Can we claim back the money we have been paying. We have had this loan since 2006.

 

Thank you.

[AndyOrch]

Hi Mercedes61 and Welcome to Cag

 

I have moved your thread to the appropriate forum (PPI )...were you will get an appropriate response.

 

Regards

 

Andy

[Mercedes61]

Hi Andy,

 

I am new at this and keep getting it wrong.

 

Thank you.

[fkofilee]

Hi Mercedes61 and welcome to CAG like Andy said. Can we have some more info on the loan. When it was taken etc?

Do you have statements?

[Mercedes61]

Hiya,

I had an original loan with picture in my sole name taken in January 2006.

 

 

In December 2006 I took out a joint loan with my partner.

 

 

Picture consolidated my single loan with the joint loan. Total £73,000.00.

 

 

They have added £!8,213.50.

 

 

In 2008 we paid of the original loan.

 

 

I need to look for paperwork relating the figure actually paid.

 

 

I have paperwork for both my single loan with Picture and the Joint loan.

Does that help?

 

Further to the above, last statement is dated 1st January 2014 and covers the period 01/01/14 to 31/12/14. To date I have not received my 2015 statement.

[dx100uk]

have a read of this

and chose the situation that mirrors yours.

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?318646-PPI-Single-Premium-Your-questions-answered(1-Viewing)-nbsp

 

 

then you should be able to workout your redress

 

 

but you'll need to know if or the value of any rebates that happened

[Mercedes61]

dx100uk... thank you. This is all new to me and I am trying to keep up. When you say redress what do you mean?

 

Also, what rebates are your referring to please?

 

So it's not to late to claim no?

 

Thank you.

[dx100uk]

there is no time limit on reclaiming PPI.

 

 

redress means what PPI you could get back

 

 

sometimes when you refinance one loan with another [pay it off]

firms will 'pay you back' the unused PPI as a 'rebate' [credit]

9/10 they don't and hope you forget!

 

 

there are hundreds of PPI threads here

the more you read the stronger we become.