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

[Bosund]

Subbing...

[eanddee]

Hi all, i'm new too this and i need some advice. I took out a car loan with First Trust Bank 7yrs ago, and i had to take out ppi with the loan or it would have been refused to me. The problem i have is that i lost all bank statements from that time in moving home so i don't have any record of this, i am in the process of claiming back bank charges to the sum of 5,550 pounds and am still waiting. I have an outstanding balance of 3,550 pounds with the bank which i paid back £3,100 LEAVING A BALANCE OF £450, when i started the bank charge proccedings i got a letter from county court services ordering me to go to county court for the sum of £450, judge orderd i pay 40 per month which i do but after the bank had finished putting on more charges i went up to £1000, can anyone help me?

[Ironroadman]

Hi Riednet. I am currently fighting RBS in a case involving a loan. In your post you mention that if you were self employed when PPI was taken out, it has been mis-sold, as self employed persons are not covered.

If this is the case this would be a big help in my case, as I was self employed when I took the loan out, and they knew this.

Just wondered if you have any information regarding PPI sold to self employed persons, and on what basis is it considered to be invalid.

Many thanks

IRM

[alanalana]

Hello ironroadman you should start your own thread on the PPI forum. This is the way to go...

 

http://www.consumeractiongroup.co.uk/forum/newthread.php?do=newthread&f=111

[jdes26]

hi pepople

 

really need some help ........... sent SAR to mbna and on sat recieved info i needed... cut along story short i have £2200 of debt with mbna/link

i sent sar for details of ppi/default charges ppi £995 charges £1060

now i recieved a unenforceable cca and the ppi was box wasnt ticked as i didnt want it so no tick in yes or no tick in no i want to start my claim but i want to know how to start my letter.... can i just write i didnt want it and my CCA proves this as box wasnt ticked????

 

would appreciate answers

 

many thanks

[car2403]

Hi Jdes26.

 

Ideally, start your own thread to get help on your situation.

 

If you reclaim those charges and have the PPI refunded, plus interest, they will be owing you money, by the looks of things!

[katie3105]

can someone please help me and take a look at my thread im unsure what if any can be claimed and how to calculate. Thanks

 

Northern Rock loan with huge ppi can it be reclaimed ??

[121o121]

Can anyone help me out on claiming interest back on a PPI?

 

My PPI was refunded when I complained at the time (2003). I got a payment back about £530. Now I want to put a claim in for the interest I was paying for it through out the loan, but I can't find no info on this. Is it both compound and statutory 8%?

 

The loan is paid off now. Am I wasting my time?

 

Thanks

[means2anend]

subbing!!!

[means2anend]

subbing!!!

[Guest MamaG1]

I dont understand why we all just seem to be asking for 8% interest back, it seems to me that some of the banks banks are not paying us back in total what is due, as if you paid a single premium it would have been added to the loan amount and hence a higher interest on your overall loan.

 

The refunds I think should all be tied back and reconsiled back tot heloan amounts, not just the way they do it now. give you a figure htey charged you at the begining before adding to the loan. Then add 8% interest for the time you paid it and also they only pay us back simple interest.

What happened to the compund interest they charged us.

 

they should pay back the compund not simple is my view.

 

Can someone please advise or comment.

 

Can some one also pls post the link to work out PPI Interest calculation, is it the same as the bank account over chages one??.

[NEDDEY1]

Hi

Can anyone help? im trying to claim my ppi back from VANQUIS they said i agrred to the cover over the phone i asked for a copy and i have recived it today i have listened and after the sales girls waffels on and said it would speed you my application if i take out the ppi and i agreed where do i stand now? can i still make a claim? could someone please help

 

Thankyou

[means2anend]

''it would speed your application IF you took out the PPI'' sounds conditional to me....and not TRULY OPTIONAL.It seems like an inducement

 

Credit applications are not one way or the other going to be sped up if you decide or decide not to take out PPI...dodgy!!!!

m2ae

[NEDDEY1]

Thanks m2ae

Well im guna give it a go and see how i get on but i think they will argue that i agreed to the PPI but we will see thanks again for your reply

[N.P]

Hah hah, I`d keep hold of that recording.

 

PPI is supposed to protect your payments, not to help speed your application up.

 

Sounds like a typical missold con to me.

 

What does your CCA show in respect to the PPI? My Lloyds TSB Credit Card is just a tick in a box which anyone could have ticked at any time. There is no reference to the cost or anything.

 

 

 

N.P

[means2anend]

Hah hah, I`d keep hold of that recording.

 

PPI is supposed to protect your payments, not to help speed your application up.

 

Sounds like a typical missold con to me.

 

What does your CCA show in respect to the PPI? My Lloyds TSB Credit Card is just a tick in a box which anyone could have ticked at any time. There is no reference to the cost or anything.

 

 

 

N.P

 

Just because there is a box that says tick here if you want PPI does not truly make it optional.The character and substance of the agreement as a whole will tend to show whether it was or not.

 

For example some Credit card applications have a box for that...but when customers declined to tick they were ALSO refused application for Credit.

 

Substance not Form is important in these situations...AND in NEDDEY's case s/he has relied on a MISREPRESENTATION..and yes KEEP HOLD OF THAT RECORDING..PURE EVIDENCE!!!!

 

m2ae

[Bgm_co]

I have an Abbey loan, and I'm 100% sure it has PPI. I have looked for my agreement but can't find it.

 

Is there a template letter for me to send to request a copy of my agreement?

 

Thanks

[N.P]

Hi m2ae,

 

I never thought about that, the thing is though, how would I prove that?

 

I mean, anyone could have ticked that box, but if it wasn`t ticked and I was refused credit, how would I know if I was refused due to not accepting the PPI if the agreement mentions nothing of the sort?

 

Could one not say that about the Brighthouse agreements we often see? Those agreements often require you to have their so-called optional covers.

 

 

N.P

[means2anend]

Hi m2ae,

 

I never thought about that, the thing is though, how would I prove that?

 

I mean, anyone could have ticked that box, but if it wasn`t ticked and I was refused credit, how would I know if I was refused due to not accepting the PPI if the agreement mentions nothing of the sort?

 

Could one not say that about the Brighthouse agreements we often see? Those agreements often require you to have their so-called optional covers.

 

 

N.P

 

One way would be to compare a like for like agreement where the terms and conditions are identical and then look to see the difference if one has been accepted for the credit and the other declined where one has ticked for PPI and the other has not.

 

In reality and truth there should be no difference IF the PPI was in truth OPTIONAL both Credit agreements ought be accepted...subject to both applicants being creditworthy and ''all other things being equal'' so to speak.

 

If A has ticked in the optional PPI box and been accepted whereas B did not tick the box but wanted ''to shop elsewhere for a better deal'' and was declined the Credit that would tend to show that that PPI was not in fact TRULY OPTIONAL but the Credit was conditional upon PPI.

 

That would also show that there is a tendency in the industry or within that specific banking organisation. to practice unfairly as per CPUTR 2008.

 

You and a creditworthy friend should try it out.....away from the banks premises cos then you'll have time to cool off and cancel without repercussions.

 

Also I remember reading that the Agreements Amendment Regs 2004 have separate consent and signature boxes now for distinct products bought in connection with the main financial product i.e loan,credit....

 

Actually that's a good idea...why dont you and a mate take out agreements within the same organisation and do this again again throughout each separate distinct organisation and see if there is what we already know.... a practice of misselling.

 

m2ae

Edited May 15, 2010 by means2anend

[means2anend]

As for the Brighthouse agreements how can the PPI be optional if they REQUIRE you to have them...by definition they are conditional!!!

Edited May 15, 2010 by means2anend

[N.P]

But, what if you were turned down due to your credit rating, without wanting the PPI?

 

You couldn`t say you were turned down because you never took out the PPI, they could just say the system thinks your a high risk.

 

 

 

N.P

[means2anend]

That's why it is better for two or more to do it than one.Also I have been trawling through my friends SAR with his consent and much can be gleaned from it including ''behavioural scoring'' AND CREDIT RATING!!!!!!!!!

[means2anend]

Hi

Can anyone help? im trying to claim my ppi back from VANQUIS they said i agrred to the cover over the phone i asked for a copy and i have recived it today i have listened and after the sales girls waffels on and said it would speed you my application if i take out the ppi and i agreed where do i stand now? can i still make a claim? could someone please help

 

Thankyou

 

NEDDEY

 

Telephone calls Emails and all electronically held KEY information if not disclosed may lead to a huge costly failure on behalf of the banks even if they were to win on the main issues:

 

Earles v Barclays Bank Plc [2009] EWHC 2500 (Mercantile) (08 October 2009)

 

ASK for those recordings!!!!

 

m2ae

[Bgm_co]

I have an Abbey loan, and I'm 100% sure it has PPI. I have looked for my agreement but can't find it.

 

Is there a template letter for me to send to request a copy of my agreement?

 

Thanks

[means2anend]

I have an Abbey loan, and I'm 100% sure it has PPI. I have looked for my agreement but can't find it.

 

Is there a template letter for me to send to request a copy of my agreement?

 

Thanks

 

There is I shall find a link for you!

 

m2ae