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I'm starting a PPI claim on behalf of a friend and would really appreciate some guidance as I don't want to make any errors.
My friend was retired at the time of taking out a bank loan, and tried to refuse the bank's PPI (stating that it would be useless for a retired person), but was told that the bank's PPI was conditional to get the loan. My friend also had a pre existing medical condition.
Am I correct in thinking that there are 3 counts for mis-selling?
Namely;
1. Friend was retired
2. The PPI was conditional/compulsory
3. Pre-existing medical condition
Are claims limited to 6 years, or can you claim beyond?
Are any repayments automatically applied to the remaining balance of the loan, or can you insist on them being repaid direct to you? I ask this because I believe that the loan itself was also mis-sold (due to very high pressure sales techniques amongst other things), so don't see why any refund should go towards this dubious loan.
Finally, can interest be applied to the claim and if so, how would it be calculated?
I'm completely new to this and terrified of doing the wrong thing and messing it up for my friend, so any advice will be very gratefully received
I'm starting a PPI claim on behalf of a friend and would really appreciate some guidance as I don't want to make any errors.
My friend was retired at the time of taking out a bank loan, and tried to refuse the bank's PPI (stating that it would be useless for a retired person), but was told that the bank's PPI was conditional to get the loan. My friend also had a pre existing medical condition.
Am I correct in thinking that there are 3 counts for mis-selling?
Namely;
1. Friend was retired
2. The PPI was conditional/compulsory
3. Pre-existing medical condition
Are claims limited to 6 years, or can you claim beyond?
Are any repayments automatically applied to the remaining balance of the loan, or can you insist on them being repaid direct to you? I ask this because I believe that the loan itself was also mis-sold (due to very high pressure sales techniques amongst other things), so don't see why any refund should go towards this dubious loan.
Finally, can interest be applied to the claim and if so, how would it be calculated?
I'm completely new to this and terrified of doing the wrong thing and messing it up for my friend, so any advice will be very gratefully received
Hello Underdog
Nice to see you over here
Reclaim back you ppi is not always that difficult, you just have to been determined
These look like very good reasons for reclaiming back the ppi and the ppi interest.
There is no time limit on the length of the loans, if they mis-sold it they mis-sold it. I have just been successful in reclaiming back a substantial amount on three loans taken out in 1996.1997 and 1999, with interest at 8% to boot
Can I ask which bank the loan was with and the year it was taken.
Does you friend have a copy of his credit agreement and know the figures we are talking about.
Come back with the info and I will help you if I can
If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW
nice to hear from you again - and thanks ever so much for replying
I'm delighted that you can claim back further than 6 years, my friend had about 3 loans over 8 or 9 years - so that will help make his pension go a little further. You have just put a huge smile on two faces
The bank is Barclays and would run from about 1999 -2000 until 2008.
I believe my friend does have all the original loan agreements - I'll have to help him locate them in his chaotic filing system and work out the figures.
nice to hear from you again - and thanks ever so much for replying
I'm delighted that you can claim back further than 6 years, my friend had about 3 loans over 8 or 9 years - so that will help make his pension go a little further. You have just put a huge smile on two faces
The bank is Barclays and would run from about 1999 -2000 until 2008.
I believe my friend does have all the original loan agreements - I'll have to help him locate them in his chaotic filing system and work out the figures.
Thanks again for your help - much appreciated
Hello Underdog,
You are more than welcome.
I have posted a link to my lastest success may be helpful to you.
If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW
What a different approach from the two banks; one pays up quickly and the other puts PF through the mill!
I read somewhere that Barclays are paying out on PPI, but they have so many on file it takes a year Well, we'll see about that! If they want to reduce their back log, just write the cheques - takes about 30 seconds for each one
Yes they have been stringing me along now for 15 mths UD and it looks like the fos could take another year so in reply to there last letter ive told them if they want there loan paying take me to court then i can counter claim im sure the judge will be happy when i put a big fat bundle of correspondance in my defence.
PPI Claim Queries
claim on behalf of a friend and would really appreciate some guidance as I don't want to make any errors.
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Originally Posted by underdog13
Well, we'll see about that! If they want to reduce their back log, just write the cheques - takes about 30 seconds for each one
