Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
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Can any help me out here? Can I claim back the PPI paid and if so how do I go about it. I have read the consumer wiki page and I have a copy of my PPI aggrement which I took out 3 years ago and I have 2 years remaining. I am not sure if I can claim because I signed a copy and sent it to them. I remember telling them that I had insurance with my employer and they asked me to fill out a questioneer to check if I still needed any further protection. This is what they came up with;
Following a review of your personal circumstances during your Unsecured Personal Loan application we have identified that you have a need for our Loanprotect insurance for the reasons stated below, if due to unforeseen circumstances you are unable to meet your loans repayments:
For simple peace of mind that your repayments are being made
You have limited sick pay
You wish to retain your savings for other purposes
You are the sole/main income earner
In making our personal recommendation we acknowledge you may have an existing insurance policy with another firm that, when compared to our policy, may offer appropriate cover for this loan commitment. Given that we have not taken details of this existing policy into account, you should carefully check this policy to ensure that our recommendation remains suitable now and in the future.
Following our recommendation you have selected to protect your loan with Loanprotect Silver.
I contacted them and I was told that I have already paid off most of the interest on the PPI. Below are the figures of the loan and PPI;
Key Financial Information Loan Amounts
Loan Amount
Loanprotect Loan £930.06 Cash Loan £6000.00 Total Loans £6930.06
Total Amount Payable Loanprotect Loan £1122.60 Cash Loan £7242.60 Total Loans £8,365.20
60 months commencing on the date of this Agreement. On completion of your loan you will be notified of your first payment due date. All subsequent payments will then be due on the same date monthly thereafter
The APR is 7.9%
Other Financial Information
The Total Charge for Credit (which IS made up of Interest) is
Loanprotect Loan £192.54
Cash Loan £1,242.60
The rate of interest is 7.9% fixed for the Period of this Agreement. The Interest payable under this Agreement will be debited to the account at the commencement of this Agreement.
You have applied to purchase Loanprotect Silver. The cash price for this is £930.06. This includes Insurance Premium Tax at 5%. The amount of the Loanprotect Loan equates to this cash price.
Welcome to the PPI forum. You will settle in soon and then wonder what the hell just happened. Stick with it there are people on this forum who have gone through Court claiming and won, fos claiming and won again the way to go to win is your choice.
Can any help me out here? (yes) Can I claim back the PPI paid (yes) and if so how do I go about it. (either Financial Ombudsman Service or Court. If you go to the FOS firist and lose you can still then reclaim through the Court route. If you go through the Court route first and then lose the FOS will not take up your claim. I have read the consumer wiki page and I have a copy of my PPI aggrement which I took out 3 years ago and I have 2 years remaining. I am not sure if I can claim because I signed a copy and sent it to them. I remember telling them that I had insurance with my employer and they asked me to fill out a questioneer to check if I still needed any further protection. This is what they came up with;
Following a review of your personal circumstances during your Unsecured Personal Loan application we have identified that you have a need for our Loanprotect insurance for the reasons stated below, if due to unforeseen circumstances you are unable to meet your loans repayments: (you will need to ensure they provide proof of this needs and wants questionnaire proving they have indeed identified your need for their Loanprotect Insurance and that they were aware you were already covered as stated below.
For simple peace of mind that your repayments are being made
You have limited sick pay
You wish to retain your savings for other purposes
You are the sole/main income earner
In making our personal recommendation we acknowledge you may have an existing insurance policy with another firm that, when compared to our policy, may offer appropriate cover for this loan commitment. Given that we have not taken details of this existing policy into account, you should carefully check this policy toensure that our recommendation remains suitable now and in the future. And therein lies the the catch but remember this is their recommendation despite the fact you are already covered and so PPI wins again
Following our recommendation you have selected to protect your loan with Loanprotect Silver.
I contacted them and I was told that I have already paid off most of the interest on the PPI. Below are the figures of the loan and PPI;
Key Financial Information Loan Amounts
Loan Amount
Loanprotect Loan £930.06 You can IMO reclaim this plus interest Plus 8% Statutory interest Cash Loan £6000.00 Total Loans £6930.06
Total Amount Payable Loanprotect Loan £1122.60 Same here reclaim the lot Cash Loan £7242.60 Total Loans £8,365.20
60 months commencing on the date of this Agreement. On completion of your loan you will be notified of your first payment due date. All subsequent payments will then be due on the same date monthly thereafter
The APR is 7.9%
Other Financial Information
The Total Charge for Credit (which IS made up of Interest) is
Loanprotect Loan £192.54 IMO Recoverable
242.60
The rate of interest is 7.9% fixed for the Period of this Agreement. The Interest payable under this Agreement will be debited to the account at the commencement of this Agreement.
You have applied to purchase Loanprotect Silver. The cash price for this is £930.06. This includes Insurance Premium Tax at 5%. The amount of the Loanprotect Loan equates to this cash price.
Do I have any chance of a claim? I would suggest you have a sound case to reclaim however things do go wrong.
I hope this helps you Your post is a bit messed up but I believe you have a good chance of success. Keep me posted and I will try and help where I can.
I Hope you can follow all the posts any questions please post and I will try and address them asap.
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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.
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.
GoAllTheWay-v-The Rock
paid and if so how do I go about it. I have read the consumer wiki page and I have a copy of my PPI aggrement which I took out 3 years ago and I have 2 years remaining. I am not sure if I can claim because I signed a copy and sent it to them. I remember telling them that I had insurance with my employer and they asked me to fill out a questioneer to check if I still needed any further protection. This is what they came up with;
Reply With Quote
Hello goalltheway,
