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
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
I have tried to claim the PPI on a barclaysloan as I did not want the insurance at the time but was told I needed it even though I had an income prtection policy through my employer.
Today I got a letter saying they will be refinancing my loan in order to remove the ppi. I justw anted someone to look at the figures as I think they are taking all of the remaining ppi payments off the loan but nothing has been mentioned about the ppi I have alreday paid to them.
Original loan figures over 84 months, opened in Aug 2005
As of today 2nd Nov my outstanding loan balance showing online is £10,266.84
I am not very good with figures so I hope someone can explain it to me better. I have now been paying this loan for approx 44 months, also if I sign and agree to the new loan does that mean I cant claim any of the ppi I have already paid?
I have 3 claims in against barclayloans on behalf of my GF, each of them now with the Financial Ombudsman Service. Submitted claims in May this year and Barclays still have never offered a Full and final response.
Do you know what the Breakdown of the monthly payment was? ie how much goes against paying the loan and how much is for PPI.
7. Thinking of a Full & Final Settlement?Read Here
my views are my own...seek legal advice if ness
NEVER EVER - act on a private message asking you to visit another website, make contact 'off list' or by telephone
- alert the siteteam IMMEDIATELY by hitting the black warning triangle on any message - Particularly if this results in a request to pay a fee to help you.
rather than hittting to be my friend - hit the star
I have tried to claim the PPI on a barclaysloan as I did not want the insurance at the time but was told I needed it even though I had an income prtection policy through my employer.
Today I got a letter saying they will be refinancing my loan in order to remove the ppi. I justw anted someone to look at the figures as I think they are taking all of the remaining ppi payments off the loan but nothing has been mentioned about the ppi I have alreday paid to them.
Original loan figures over 84 months, opened in Aug 2005
As of today 2nd Nov my outstanding loan balance showing online is £10,266.84
I am not very good with figures so I hope someone can explain it to me better. I have now been paying this loan for approx 44 months, also if I sign and agree to the new loan does that mean I cant claim any of the ppi I have already paid?
You must not sign up to a new loan agreement the existing loan should be adjusted to keep the same length of term, the same APR but with the PPI element removed, PPI cancelled and a rebate paid back. You the claim all the PPI premiums paid including the contractual interest and then ask for 8% statutory interest on top from the date of each monthly payment until a satisfactory settlement is agreed (through the fos or the Courts)
The idea of a new loan is to keep you paying for ever thereby keeping you on their debt hook.
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.
Barclays are bleeping hopeless at dealing with PPI complaints. They say they have a huge backlog and its taking up to 6 months to process things. I think they tricked my sister into a similar thing in 06. She took out a loan in 04 and when she ran into trouble they "re-structured" (like they were doing her a big favour) her debt into a new loan. We've had data after sending SAR but no application forms for loans or statements for 1st loan. We've now requested these. They took some money off (possibly PPI but can't tell whether it was all of it or just instalments due to still come). Anyway the new loan paid off most of the old one plus charged a new load of interest so basically charged interest on the previous interest. We're complaining. Halifax tried this when refunding PPI but argued and eventually they agreed to just reorganize existing loan - saved about £3k on what would have been their new loan. BEWARE MISHELO2 - it's yet another way the banks have found of extorting money from customers.
Just subscribing - Northern Rock are trying to get me to sign a new loan agreement after winning my PPI claim.
Think I'll just ask them to confirm in writing why this is necessary and if they are saying they will only repay my PPI if I agree to sign a new agreement.
See what they come back with.
AA had already warned me to be careful so I've been reading threads and it does seem like a common [problem]!
7. Thinking of a Full & Final Settlement?Read Here
my views are my own...seek legal advice if ness
NEVER EVER - act on a private message asking you to visit another website, make contact 'off list' or by telephone
- alert the siteteam IMMEDIATELY by hitting the black warning triangle on any message - Particularly if this results in a request to pay a fee to help you.
rather than hittting to be my friend - hit the star
Mishel - I am sorry to be sort of hijacking your thread but I think it might be relevant to you too. I am a bit wary of posting on my own thread because i think Northern Rock read it. There aren't many Northern Rock PPI claims on here so it would be easy for them to do.
I am thinking about sending them this letter tomorrow and see what they come back with. I am deliberately acting a bit thick.
Thank you for your letter of 28 October 2009.
I note you agree to refund me £ missold PPI but your letter implies that this is conditional upon my signing a new loan agreement.
Please explain why a new agreement is necessary and why the existing agreement cannot be adjusted. I am confused as I understand new agreements are against fos guidelines.
Please also confirm whether my understanding is correct i.e. that you are saying you will only refund mis-sold PPI if I sign a new agreement. Again, I am confused as I understand that as the PPI was mis-sold you cannot make the refund conditional.
If it helps anyone, this is what I wrote, which seemed to work because the PPI was eventually refunded to the existing debt:
"I don't want to take out another loan and would like you to simply credit the refund to my existing debt. I am currently suffering financial hardship and as you know this refund will substantially reduce my outstanding debt. I am not in a position to take out another loan or give you bank account details fro a monthly premium to be paid from. Are you saying that without me taking out a second loan, you will not refund the PPI? Please clarify why another loan has to be set up. " and when I chased them for a response I wrote "National Debtline advised me that you should not be asking me to enter a new loan agreement when I am suffering financial hardship. This would constitute irresponsible lending on your part" It seemed to do the trick. Of course we were in financial hardship but you could change to suit your circumstances. They have no right to ask you to take out a 2nd loan. Good luck all,
Sweetjane - Thanks. I wrote following last night after reading thread as I want my money coming to me and not off my loan which they are offering to do, if I sign form and new agreement!
Thank you for your letter of 28 October 2009.
I note you agree to refund me £xxxxx missold PPI but your letter implies that this is conditional upon my signing a new loan agreement.
Please explain why a new agreement is necessary and why the existing agreement cannot be adjusted. I am confused as I understand new agreements are against fos guidelines.
Please also confirm whether my understanding is correct i.e. that you are saying you will only refund mis-sold PPI if I sign a new agreement. Again, I am confused as I understand that as the PPI was mis-sold you cannot make the refund conditional.
Barclayloan PPI Please help
on a barclaysloan as I did not want the insurance at the time but was told I needed it even though I had an income prtection policy through my employer.
Reply With Quote
Originally Posted by mishel02
