Is it a trap...?

[Stressed150]

Hi guys have CCA'd a DCA, back in April, and have not been sent this yet so am assuming they do not have it, however, I have also recieved a letter from the orginal lender just last week regarding PPI which was added to the loan account, they want me to advise them if I feel I was mis-sold this...!!!

 

The timing of the whole thing seems peculiar to me, as the lender want me to respond within 14 days, so just wanted to find out if this is some sort of ploy by the orginal lender which will affect the enforceability of a CCA...? Or am I being paranoid?!!

 

I was mis-sold the PPI so do wish to re-claim this, however only if it does not affect my current CCA request etc.... can anyone please advise?

[callumsgran]

Go ahead and ask for the PPI back

What was the CCA for? Charges?

It's 2 separate issues anyway so it shouldn't affect each other

[lilly white]

Claim Back Ppi

 

Do The Sums Add Contractual Interest And Compound It.

[Stressed150]

So I take it the CCA enforceability issue won't be affected by this then? The CCA is for a loan agreement, my purpoise for CCA-ing is not to have my debt written off raher to put me in a much stroner position whilst negotiating full and final with creditors...

[dx100uk]

well if the ppi is on the loan then they might well take that off the outstanding bal.

dx

[noomill060]

The fact that PPI was mis-sold and the fact that the agreement for PPI was on the same document as the credit agreement, probably means that the entire combined agreement is unenforceable as PPI premiums will have been added to the debt balance, then interest charged on the PPI premiums means that any prescribed terms (which may or may not be on the credit agreement, which may or may not even exist) are wrong.

 

If the PTs are in anyway mis-stated the agreement is enforceble only by a court, which would be barred from doing so by virtue of s.127 of the consumer credit act.

[noomill060]

I royally shafted Barclaycard in this way and the debt was wiped.

[noomill060]

The letter you received is the bank attempting to bolt the stable door hoping you dont know about this.

 

A lot of banks have been told to send letters to customers regarding PPI mis-selling. I wouldnt read too much into it.

 

What you should do is read my Morgan Stanley thread

 

http://www.consumeractiongroup.co.uk/forum/dca-legal-successes/168312-morgan-stanley-cca-received.html

Edited June 23, 2009 by noomill060

[noomill060]

Have you got all your statements?

 

If not, get them as your PPI premiums will be on them.

 

In the meantime write to your bank thanking them for their recent letter and tell them you will investigate and in the event that you believe that PPI was mis-sold they can expect further communication in due course.

 

Also inform them that you require all copy statements. you could include a SAR in with this letter.

[noomill060]

;-)

[Stressed150]

Just finished reading your thread noomill....loved it....Braclays is also on my list of things to do....!!!!!

[patrickq1]

Morgan Stanley

Code of Ethics and Business Conduct

 

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A truly great, visionary company such as Morgan Stanley continuously lives and defends its core values and business principles. Only by doing so can we realize the potential of our constituent parts and the talents of our people around the world.

 

To reaffirm their commitment to Morgan Stanley's core values and business principles, Morgan Stanley requires that directors acknowledge this Code of Ethics and Business Conduct, and that officers and employees acknowledge the Morgan Stanley Code of Conduct, which is summarized in this Code of Ethics.

 

 

 

Updated as of June, 2008

[Stressed150]

Hi, just to let you know what wenton with this case..... I phoned up A&L stating I do beliee I was mis-sold PPI, and I as adisedthis would be looked into, andsomeone would write back to me in a few weeks time.... that was about a month ago, today receieed a letter, stating A&L will refund an amount to just under £1000, and it will be deducted from my loan account balance, needless to say I'm an extremely happy bunny today, and thank you all for your great help, now will help my sis to get her PPI back, which will amount to thousands as she has a loan for £25000.00!!!!

 

I know the dates hae been mentioned before, but was it PPI taken out between 2005 and 2007 with A&L?

[Stressed150]

Ok been reading aound on a few posts here and just wanted to find out if A&L are allowed to apply the refunded PPI amount to the balance outstading on my account, it has been defaulted and there are arrears on the account..... Can I still request a cheque in the post?

[noomill060]

Yes, they will probably refund the PPI to your account.

 

Without me having to reread this thread from the start, did you reclaim the interest charged on the PPI, or just the PPI premiums themselves?

[angry cat]

A&L were fined by the FSA, for mis-selling PPI;

A&L stated that they would be contacting all the customers affected and;

refund said PPI premiums!

 

Check out the FSA website for full details.

 

I agree with Noomillo, in that A&L should repay to you the contractual interest that was levied on the PPI premiums, as well as the premiums themself.

 

AC

[Undercover-Elsa]

Stressed..have they terminated or requested the full balance yet following the Default?

If not then you might be able to argue that only the amount required to bring the account up to date should be paid into the account, the rest by cheque.

Elsa x

[angry cat]

FSA Register

 

AC

[Stressed150]

They offered to repay the PPI interest which they state is 8 percent and amounts to around £95.00, I neer actually thought I'd be entitled to any interest, how would I ork it out and ask them to refund it? Also there is a default on the account, but I am still awaiting A&L to send me the default and termination docs as part of SAR....

[mysticpols06]

The fact that PPI was mis-sold and the fact that the agreement for PPI was on the same document as the credit agreement, probably means that the entire combined agreement is unenforceable as PPI premiums will have been added to the debt balance, then interest charged on the PPI premiums means that any prescribed terms (which may or may not be on the credit agreement, which may or may not even exist) are wrong.

 

If the PTs are in anyway mis-stated the agreement is enforceble only by a court, which would be barred from doing so by virtue of s.127 of the consumer credit act.

 

 

Hi Noomill - Sorry to jump in on thread, just wondered if you could have a look at this based on what you have put in this post and tell me your opinion please. http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/184665-northern-rock-q-whats.html

Is really bothering us but can't work out where to start with it all. Sorry again for jumping in - goodluck & won't interrupt again Many thanks, Mpols x

Edited September 6, 2009 by mysticpols06
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