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I took out a loan with Alliance + Leicester in 2004 for £5000. I've been searching for the loan agreement and have just found it. It shows that they added Personal Loan Protection which I can't remember asking for !
The agreement shows the following: Loan £5000 @ 10.9% APR = interest of £1437.40 then Personal Loan Protection £298.26 @ 10.9% APR = Interest of £85.74 totalling £384.00
I have succesfully claimed PPI from Royal Bank of Scotland for adding the PPI to the loan amount and then adding interest ontop(that was one of the reasons anyway).
Do you think I have a claim with Alliance + Leicester ?
Good news,received a letter today from Alliance & Leicester stating the following " Having considered the available information,I am unable to establish that you were provided with sufficient details to be able to make an informed decision when you were recommended to buy this policy. I would like to offer you £402.52 as a refund,with interest,of all the premiums you have paid for the insurance element of your loan ".
I would like to offer you £402.52 as a refund,with interestMake sure you get the interest either contractual or at least Statutory.
Are you making a living out of this now? Quality result for you well done.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Having considered the available information,I am unable to establish that you were provided with sufficient details to be able to make an informed decision when you were recommended to buy this policy. Maybe they have no information is more the case.
As Alanalana says check the interest is right before you accept.
I would like to offer you £402.52 as a refund,with interestMake sure you get the interest either contractual or at least Statutory.
Are you making a living out of this now? Quality result for you well done.
aa
I could make a living out of it by now,i've still got the other claim going through with Centrica aswell
This is the Breakdown of the offer that Alliance & Leicester have given me:
Total monthly premiums from 5 July 2004 to 5 November 2008 - £339.20
Interest to date - £63.32
Total premiums + interest - £402.52
It states that interest is calculated at a rate of 8% simple which is consistent with the approach the Financial Services Authority and Financial Ombudsman Service would take.
If you type in the start date then the end date then principle sum £339.20
The interest at 8% it calculates but not sure if this is simple interest or not you might like to ask for confirmation on this.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Alliance + Leicester PPI
of £1437.40 then Personal Loan Protection £298.26 @ 10.9% APR = Interest of £85.74 totalling £384.00
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Originally Posted by alanalana
