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I Had a few topped up loans with A/L over the last 6 years with PPi included.
Have a loan running with them just now - without PPI.
Made claim as self employed etc.......Eventually (10 weeks) they have stated they are not able to confirm if i got the correct info etc and have made me a refund offer + interest.
Formal Offer acceptance form states I must specify who chq should be made paybale to address etc.
However, could they actually use this refund and reduce current loan, even though the legal offer does not mention this?
Getting a bit anxious now........does anyone have any thoughts??
I Had a few topped up loans with A/L over the last 6 years with PPi included.
Have a loan running with them just now - without PPI.
Made claim as self employed etc.......Eventually (10 weeks) they have stated they are not able to confirm if i got the correct info etc and have made me a refund offer + interest.
Formal Offer acceptance form states I must specify who chq should be made paybale to address etc.
However, could they actually use this refund and reduce current loan, even though the legal offer does not mention this?
Getting a bit anxious now........does anyone have any thoughts??
I would take the letter as evidence they will repay the mis-sold PPI by a personal cheque. Some banks are insisting that the refund is used to offset any outstanding balance on the loan but you have to remember the loan figure and PPI figure should in fact have been totally separate agreements as PPI and the loan amount although being shown on one Consumer Credit Agreement should require two signatures one for the loan and one for the PPI so any refund on the PPI should no IMO be used to offset a separate agreement.
If they try and use the refund to offset the balance of the loan tell them that it is not acceptable insist on a personal cheque on the grounds the PPI and loan were two separate agreements and if they were not then legally they should have been otherwise the CCA would be unenforceable.
Once you get a refund by cheque it is up to you to decide if you wish to pay off some of the outstanding loan or have a holiday
Hope this eases your concerns. The fact they have mentioned cheque in writing should mean that is what you will get.
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.
Aha,(in a non Alan Partridge sense...) yes, that all makes perfect sense now.
If they did to pull a fast one - I will use that argument in no uncertain terms, also ask for clarification as to them apparently considering the present agreement and the previous closed loans/PPI policies all one agreement........all irredeemably unenforceable and the present one too...
Once they settle I will post the whole claim story in the success section as it will be good ammo for other caggers to draw on.
keep the forum informed it undoubtedly will help others
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.
Hi Mr wheeler
congrats on your offer
I too am about to embark on this process,
Im interested if they coughed up at the first letter after 10 weeks and did you include any spread sheets for your workings out or did you have to complain to fos,
without giving me too many details how close was your offer to which you wanted?
just want to know if I can expect a good result-to be honest though with the help from this site,
anythings a bonus
Gary
You will probably find gary the reason the A&L paid out so soon is because they have been handed a heavy fine for mis-selling and know the FSA,fos are onto them.
The more companies that get fined the better.
Also as you may know PPI has been banned by the FSA but Lloyds are hell bent on challenging this decision as i read in the mirror yesterday.
Good evening PF
lets hope the Halifax dont ruin there reputation and pay out quickly
bad news on the Lloyds front though there my next target.
ps Im a sun reader I missed that
Lloyds paid out to me after 2 phone calls 3 letters and 1 lba. I was about to file in court on tuesday when they took me by surprise with a full refund + interest - they have put the condition of payment to loan on mine though so am about to use alanas arguement and see what happens
I am a layperson and have no legal training but I do have an iota of common sense (sometimes)
Welcome Finance PPI -----> over £3k court case filed SETTLED
Park Motor Finance -----> incorrectly logged default on credit file claim for compensation
Lloyds Tsb ----> plenty of things all filed with Financial Ombudsman or Small Claims ----> settled by paying me full amount sought 02/05/09
Strange how some ppl get there money fairly easy and some have a right fight.
Yes indeed keep at them banks are keen to use any money owed to ofset loans credit cards and overdrafts.
You need to put it across that that money was not theres in the first place and should of been in your pocket and as a result has coursed me considerable hardship.
[quote=GARY68;2143630]Hi Mr wheeler
congrats on your offer
I too am about to embark on this process,
Im interested if they coughed up at the first letter after 10 weeks and did you include any spread sheets for your workings out or did you have to complain to fos,
without giving me too many details how close was your offer to which you wanted?
just want to know if I can expect a good result-to be honest though with the help from this site,
anythings a bonus
Hi folks
I will put the details on asap without fail as soon as the cheques arrive. It was not after 1 letter, did take some persistency. I am expecting the cheques imminently, actually thought they would have been here by now.
Alliance & Leicester PPi Offer To Refund
refund claim process with A+L.
Reply With Quote
Originally Posted by mrwheeler
I missed that