how far back scotland

[thevoice111]

hello i am going to reclaim ppi from an old tsb account had a few loans

plus i have a tsb creditcard account that has been sold onto a debt recovery agency

 

any advice greatly appreciated

 

i was thinking of putting in a sar to start with is this the way to go

 

and will a sar get me all the info i need ty in advance

[dx100uk]

yep sar each 'bank'

 

you only need one per 'bank' not one per account.

 

dx

[thevoice111]

hello can anyone tell me how far back i can claim ppi ty

[ims21]

There is no limit as to how far back you can claim

[thevoice111]

ty ims21

[BankFodder]

Contractual limitation periods in Scotland are different to England and Wales.

In E/W the limitation is 6 years from the date of the breach. For money paid under a mistake, the limitation is 6 years from the date on which you discovered the mistake - you could reasonably have done so.

 

In Scotland the Limitation period is 5 years - from the date that you discovered the breach. In other words, the Scottish contract Limitation operates the same way as the mistake limitation in E/W. Time only begins to run from the date that you discovered the breach - could reasonably have done so.

 

The answer to your question is that in resepct of PPI - money paid under a mistake, - the Scottish limitation is 5 years from the date you disovered the mistake - or could reasonably have done so.

[thevoice111]

hello bankfodder does this mean that i cant reclaim for a loan taken out in 27 10 2000 ty

[ims21]

Yes you can

[BankFodder]

Just to add, that whil in E/W you can go back as long as you want - as long as you start your action within the limitation period, Scottish limitation - called Prescription, is subject to a longstop of 20 years.

 

In other words, you would have 5 years to begin your action but you could only claim for damage suffered during the previous 20 years.

[maroondevo52]

I know someone in Edinburgh who was awarded 18 years back payments of PPI from HBOS.

[thevoice111]

ty ims21 and bankfodder i have 2 personal loan agreements with the figures at hand is there a system i can use to calculate how much i can claim back my reason for claiming is i was told i would need to take this out to get the loan also on my ltsb one there is a pre ticked box i read somewhere on here that this was not right any advice be greatly appreciatted

[ims21]

Have a read of No.1 in my signature and use this spreadsheet to help you work out your claim amount

 

StatIntSheet v101.xls

[thevoice111]

[thevoice111]

cash loan 5900

add total charge for credit for cash loan 2192.80

total amount you pay for cash loan 8092.80

insurance loan (cash price for insurance) 1256.91

add total charge for credit for insurance loan 467.49

total amount you pay for insurance loan 1724.40

60 monthly payments of 163.62

 

starting on 27th nov 2000

 

annual percentage rate 14.0 %

monthly interest rate 1.101 %

total loan 7156.91

 

total charge for credit for total loan

the total charge for credit 2660.29

total amount to pay 9817.20

 

 

hello guys findind this hard to work out can one of you do the sums please how much i can claim plus interest ty

[ims21]

Did the loan run its full, natural course?

[thevoice111]

yes ims21 it did ty

[ims21]

Ok

 

You will need this spreadsheet

 

StatIntSheet v101.xls

 

The PPI loan was 17.56% of the total so 17.56% of each of your monthly payments were for the PPI = £28.73.

 

List the 60 payments of £28.73 in the spreadsheet giving the date of the payment, a description (i.e. "PPI Payment") and the amount. The spreadsheet will do the rest for you.

 

Go along to the fos website and download a copy of their consumer questionnaire and complete it.

 

Send the completed questionnaire and a print of the completed spreadsheet to the lender with a letter requiring refund.

 

They will have 8 weeks to investigate and give you a final decision.

 

ims

[thevoice111]

ty very much for all your help appreciatted ty

[thevoice111]

one more question this was a joint application so will both of us have to claim sorry 2 questions i have my mortgage with this lender will they try and hassle me does this happen its wth the scallyfax ty

[ims21]

They are not allowed to take any retaliatory action.

 

As regards joint loans, the fos form provides for this so nothing special really needs to be done.

 

ims

[thevoice111]

great ty

[thevoice111]

i am writing to you today in relation to your complaint about your ppi policy

after considering the evidence and documentation/information available to me,i have not found

sufficient evidence to agree with your allegation that your ppi policy was mis-sold.as such

i am unable to uphold your complaint

 

as part of my review, i have considered whether you were eligible for the policy and whether the

policy was suitable for you. i have also taken into account each the concern you raised with us in

your complaint and i can confirm that i did not identify any other issues when reviewing your file.

 

having completed all of these steps, i went on to look at your complaint as a whole to ensure that

we acted fairly towards you in relation to the sale of your ppi policy,giving appropriate weight and

balanced consideration to all available evidence including any further information supplied by you.

 

i am sorry that you felt the need to complain about your ppi policy and appreciate that my

decision may be of dissapointment to you. however, i can assure you that i have fully

investigated your complaint and all the surronding circumstances.

 

YOUR COMPLAINT

 

during your telephone call on 27 april 2012 you said :

 

1) you were told you had to have ppi in order to get the loan

 

FINDINGS

 

in order to address the concern you have raised, i have reviewed all the available sale related

evidence. ihave established that you applied for your loan ppi policy on the telephone around 20

april 2004

 

to further assist my investigation i have also taken the following into consideration:

 

YOUR COMPLAINT LETTER (none sent )

your consumer credit agreement

our knowledge of our sales process and documentation at the time

your sales documentation

 

it should be noted that prior to 2005 the sale of ppi was not regulated by the financial services

authority ( FSA ). however,we are members of the general insurance standards council

(GISC) which expected its members to act fairly and reasonably when towards a customer.

 

for clarity i have addressed your complaint under the following headings.

 

OPTIONALITY

 

i can confirm that it has never been a requirment to take out a ppi policy in order for a loan

application to be accepted. in addition, taking out a ppi policy would not have improved the

chances of your application being accepted

 

i am also aware that the consumer credit agreement clearly demonstrated to you that your ppi

was optional and i have concluded that the adviser did not mislead you in any way.

i have therefore came to the conclusion that you were made aware of the optional nature of your

ppi policy

 

conclusion

 

in light of my findings,i feel that our advicer acted fairly and reasonably throughout the sale.

 

i believe that the information provided at the time of sale was a fair presentation of the features of

the policy and explained the policy exclusions and the total cost of the insurance. i am also of the

opinion that it was clear,fair and not misleading therefor allowing you to make a fully informed

choice.

 

my review has not highlighted any failings with the sale that would lead me to believe your

decision to purchase the ppi policy would have changed.

 

i trust that i have clearly explained the reasons for my decision, however, if youdo not agree with

my decision please contact us on ------------ or write in providing further supporting evidence

to support your claim. i will consider any additional information and advise you whether it

changes my decision.if i do not hear from you within twenty eight days from the date of this letter

i will close your complaint and consider it resolved.

 

 

LETTER DATED O7 JUNE 2012

 

in the event that you remain unhappy with my decision ,you have the right to refer your complaint

to the (FOS) any referal to FOS must be made within six months of the date of this letter

i enclose a copy of fos leaflet about its services

 

is this a standard reply letter

can holes be picked in it

what do i do next

 

THE PERSON WHO TOOK OUT THIS LOAN WAS PAID IF THEY WERE OFF WORK is this a reason to be mis sold

[dx100uk]

biggest load of crap i've ever read:

 

considering whether you were or were not elegiable for the PPI is none of his business,

his 'speculation' does not 'null' any facst you have used toward it being mis-sold.

just saying this to further put you off quesioning his decission.

 

the 'fact' of the matter is HE WAS NOT THERE, and is solely 'assuming' the correct process was carried out.

 

as there is NO transcript of the phone call then again this is 'pure speculation' and 'assumption' on his behalf.

 

it is a very well know fact that staff were on commission to sell PPI on a bonus basis.

unless he can PRODUCE the transcript

simply reply refuting all he says.

 

as for the 'no complaint letter bit'

point out that the FOS CQ contains everything in the format recognised by every other financial ints in relation to a PPI claim

a complaint letter is not needed.

[thevoice111]

sorry m8 by the complaint letter i meant i never sent one ty for your reply

[dx100uk]

you didnt need too!!

 

dx