PPI - Some notes for Claimants - Frequently Asked Questions & Discussion thread

[Keith22]

Hi Ian

 

Good post. Do you want to add a bit about Pre-existing Medical Conditions. Most policies have a clause about this which the seller of the insurance should have brought to the attention of the client at the time. If they did not draw it to your attention and you have a condition which might make it very unlikely you could make a claim then this is also mis-selling. It is one of the reasons why I won my complaint through the FSO against Lloydstsb.

[reidnet]

Thanks Keith..

I have added that in to the above post. I have asked if the post can be made into a sticky so the info is always available at the top of the forum.

 

Ian

[sonic007]

The following posts have been removed from the main thread in order to keep it uncluttered, easy to read through and access the information.

 

PPI - Some notes for Claimants

 

citizenb

site team

 

*******************************************************

 

my husband has a loan from lloydstsb, borrowed £5.700 on his contract it has a LOAN FOR LOAN PROTECTION INS OF £1,696.14 adding APR of 16.2% and interest on loan amount he is paying back TOTAL OF £10.582.80. I have read his Personal Summary and says because he was not in continuous employment for at least 6 months therefore unemployment cover is not provided, he is self employed can he cancell this and get another ins seperately?

Edited January 16, 2011 by citizenB

[Bicester1]

Hi sonic

 

As I understand it you were mis sold see London North Securities Ltd v Mr

 

They should noty have added the insurance premium to the loan and then charged you interest on both.

 

But note that I am not a lawyer!

 

Bicester1

[bennett01]

Hi all I too have had PPI with my loans over the past 6 years and on each time have paid off the loans many years early but it was only dec last year i looked at all of my loan contracts and on each time i took a ppi insurance because i was told each loan i took out it canccelled the ppi that was in place. all these insurances was with hamilton. but i thought i will ring them to find out what policicy i have with them i was shocked to here that all of the policies that was sopposed to of been cancelled was still in place going back to 2002. without looking but i am i would have 5 ppi still ongoing so these were not cancelled the made me take further ppi for each loan when it was not needed i am looking at all of the loan aggreements which i have for each loantaken out.

[harrythehawk]

I have found some PPI on some catalogue statements which increases and decreases each month with the balance ? Is this normal ?

[reidnet]

Hi Harry,

I havn't come across ones like that but it could well be a standard thing, PPI cost calculated as a percentage of the current balance.

It would be Interesting to see the terms and Conditions of one of these policies..

 

Ian

[qprouk]

Hi reidnet!

my PPI with morgan stanley was when i claimed against it for 24 months

but what morgan stanley did was they added another PPI insurance to my repayments i asked them what where they playing at,they said it was in case i had another illness,i am disabled through my illness(permenat)so when the payment from the PPI was ending they then started demanding that i clear up the bill that began at three thousand when i was ill and after the 24 months it stood at 4200 so i was no better of i was in a worse mess and also i remember during my conversation with morgan stanley they said that i shouldnt worry about repaying anything when the insurance had paid their bit as they would more than likely right of the whole debt,even during the repayment period i was havibg judgements against me because the insurance company where slow in paying

i know the phone calls where recorded and i have demanded copies of the tapes they deny their is any transcripts,they also know the recorded conversations would put them in hot water ,so i am in a dilema as my illness causes me to have memory loss short term and also my attention span is limited to about 1 hour towards whatever i am doing so as for me filling in legal stuff i am at a loss i am also housebound anyway i wont go on as we all have problems but i love coming on here and could nt do without it

thanks for all your help to everyone

pat

[reidnet]

Hi Pat,

Sorry to hear of all your troubles, I am sure with the help from CAG we should be able to try and sort this mess out for you.

 

Firstly it may be a good idea to start a seperate thread so that it can be seen easier by others too.

 

Firstly I would submit a SAR under the data protection Act to obtain full details of your account with Morgan Stanley, also include that you require copies of all the original agreements and documentation relating to PPI.

 

If they just added a second PPI policy onto your account without you Knowledge or consent, I would consider that a bit underhanded, they cannot just go amending Consumer Credit Agreements without your consent. It would be advisable that when you submit your SAR that you specifically mention this additional PPI agreement, they will have to supply you with a copy of the application and agreement.

 

Were you actually claiming under your first PPI policy when they added on the new Policy ?.

 

If you need help with any of the letters etc just shout ..

 

Ian

[electrode101]

Is their a template letter for claiming this back. I was told by Yes Car that I had to have it in order to get the HP and am wanting it paid back. many times I have asked them to cancel this insurence and they said that as it was paid in full by them at the outset of providing the policy that I could not cancel it. Grrrrr

[bigem27]

Hi, in respose to electrode101, mate i'm in the same blooming boat. I have a thread going and someone was king enough to point me in the direction of saynotoyes.com. Its not going to be an easy battle b y the looks of it.

But that website was started up by a disgruntled YesCar Credit employee.

I'm gona do a lot of investigation first but i'm damned if i'm gona let these rip off merchants get the better of me!!! God luck to everyone!!!

Bigem27

[reidnet]

I think we may have started something Big here..lol

 

Lets Hope so..

 

Ian

[Empire Strikes Back]

Our bank manager made us put our business overdraft into a loan and added business loan insurance to it that we didnt want. Can we try to get the money we have paid for this insurance back or is it classed differently from PPI. We have paid the loan off now but would love to get the insurance back if poss, it was added to the loan so must have accrued interest.

[Bicester1]

Hi

 

Yes I think you can see this London North Securities Ltd v Mr

 

You do need to read the whole thing but what it says in essence is that they can't add cost of the insurance premium to the loan then charge interest on the total. I am going after them on this basis.

 

Bicester1

[Empire Strikes Back]

Thanks for that I will have a read through and see whats what.

[hawkewarwick]

I bought PPI with my mortgage last year my broker said it would be good if I was made unemployed which unfortunately I was in September, the PPI would not pay out and have now had to sell my house so I would not be repossessed by the mortgage company. I am now going to claim my money back just over £2000

[claire58]

Hello All

 

I'm new to all this and haven't posted before, however, have read through quite a few forums.

 

I am in the process of sending off letters to Natwest and Lloyds/TSB for my charges but from reading in another thread about people claiming back interest on managed loans for the portion used to clear an overdraft which resulted in charges. I was wondering if anyone has tried to claim back the ppi for that portion of the loan also?

 

I might be barking up the wrong tree completely and not really understand what I'm doing. Just had a thought that if the charges were unlawful and have resulted in interest and insurance being applied, wouldn't this mean this was refundable also?

 

Sorry to ramble on and any advice would be appreciated.

 

C x

[hawkewarwick]

Hi Claire 58

doing the same as you just claiming interest and charges back from the bank, now going on to the PPI I had with my mortgage.

Don't forget about Credit Card charges and also exit fees if you have a mortgage and are changing to another company

look at ITV.com/tonight they have all the templates and an interest calculator if you want to claim back the interest.

 

 

ITV News - About Tonight

[claire58]

Thank you hawkewarwick and good luck to you

[ZEBRABING]

MBNA are chargng me PPI and I never asked for it. Historically they can see that in it was not wanted until they started charging me. Since there cannot be any evidence of me asking for it can I get it back. I have requested cancellation a few times but this has not happened, i shall send the next request recorded as I cannot prove that I have sent the letters.

 

Egg are also cahrging this and I have never indicated that i wanted it. I did a balance transfer and they said that a letter was sent to me requiring me to say that I did NOT want PPI. Even though in my original application and history to that time, I had never paid PPI. I have cancelled this

 

What is my BEST course of action please?

[wobbles]

hi hawkewarick

 

did you get the mortgage and PPI through a broker ?

[suzieblooz]

We got a sofa deal from Land of Leather which seemed good at the time - pay within the year and it was heavily discounted. If you don't settle balance within the year you pay £x amount monthly. Seemed good and we thought we could pay it in the year. They also offered us 'insurance' at £120. However with all the bank chgs we couldn't pay within the year and it reverted to monthly payments for 3 years. First shock was that it was £65 a month(on a deal that was £699). The insurance was put up to £1200 as it wasn't paid within the year. As I was dealing with payplan at this point they had to be added to my DMP. The 1st thing to do is cancel all PPI. However the company(Open & Direct, ) told me I couldn't cancel it. They admit I can't claim on it so I am paying £1200 for something I can't use. They refused all payments from Payplan for 4 months then eventually stopped harassing me and have accepted the payments. Sorry to be so long winded but want to give you the facts. My question is - are they right and I have to pay the PPI or can I get it cancelled. I'm not even bothered about getting back any premiums i just want to reduce the debt to the smallest amount possible.

[reidnet]

Hi,

What reason did they give you that you cannot cancel the PPI ?

[shirleyc]

Hello,I already have thread running on Bank Charges but now thinking of starting on PPI if its not too late!I had 2 loans-1 in 98 +the other in 2000 both with PPI-is it too late to claim? Any help please shirl

[reidnet]

I am not 100% sure about the time limitation Act, If you start your own thread on PPI I am sure that someone with the required Knowledge will give you a definate answer.

 

Ian