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Am trying to help my partner with a credit agreement. sent off under credit consumer act for agreement, it took six months to arrive. After looking at it i see that PPI was added to the loan so interest was added to the total amount and not just the loan. Am i able to question this as this seems very unfair. Any advice would be greatly appreciated. Thank you..
Am trying to help my partner with a credit agreement. sent off under credit consumer act for agreement, it took six months to arrive. After looking at it i see that PPI was added to the loan so interest was added to the total amount and not just the loan. Am i able to question this as this seems very unfair. Any advice would be greatly appreciated. Thank you..
Have a good read from the stickies at the top of the forum. Loads of info there but you will have to do some homework.
Quote:
When determining whether a policy is suitable, a seller – whether a lender or an agent for the insurer – must obviously take into consideration any information the prospective policyholder volunteers. However, we do not consider the seller’s duty is limited simply to recording what the borrower discloses. It is only by asking questions that the seller can properly determine suitability. These questions cannot cover every aspect of a borrower’s personal position and should not be expected to do so. To paraphrase the ABI Statement, only those matters deemed to be relevant by the insurer should be the subject of questions. For claims before 2005 and the FSA ruling from which campaign How to tell if you’ve been mis-sold PPI
I know it seem hectic but reclaiming PPI is hectic and time consuming but to get your money back you must be prepared for a long fight.
PPI was massively mis-sold and the Financial Ombudsman Service is currently swamped with thousands of claims but they are upholding 90% of claims for mis-sold PPI.
I started a fight against Direct Line and RBS it took me 12 months and 5 months after the FOS became involved but got repayment of over £10k so IMO go for it. IT IS YOUR MONEY
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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.
Am trying to help my partner with a credit agreement. sent off under credit consumer act for agreement, it took six months to arrive. After looking at it i see that PPI was added to the loan so interest was added to the total amount and not just the loan. Am i able to question this as this seems very unfair. Any advice would be greatly appreciated. Thank you..
Following on from the above, would be grateful for advice that if the ppi was added to the loan without full knowledge then would there be a case to say that the whole agreement is unenforceable. Thank you..
I am thinking of making a claim on a personal loan regarding PPI on the grounds that it was mis-sold. If I were to do this, does it also still give me the option at a later date to claim that the same aggreement is unenforceable for that or other reasons. Any advice would be helpful..
When the Liberals and Conservatives were in opposition, they both agreed that banks should pay back high bank charges to customers. Nothing seems to have happened since they came into power as a coalition. PPI Insurance has been sorted. Now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.
PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE
Loan with ppi
was added to the loan so interest
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Originally Posted by Consumer dude
