Jump to content

 

BankFodder BankFodder


  • Tweets

  • Posts

    • so i went to sri lanka on 9th march (booked in feb) for the cricket and booked with spectrum insurance. our flights were cancelled back with emeirates so we had to rebook with sri lanka  air lines a a cost and then had to stay in the hotel for another 14 days plus other expenses . any ideas how to approach this
    • The employer should consult staff about furlough and ideally they should be transparent about what's happening, but this is all new.   Emmzzi may know more than I do.   HB
    • Email,. today from BW Legal    Without Prejudice Save as to Costs 09 April 2020 Dear XXXXXXX Our Client: PRAC Financial Limited Balance Due: £521.65 Hearing Venue: XXXXXXXX Original Creditor: Instant Cash Loans Ltd trading as Payday UK Original Account Number: XXXXXXX Hearing Date: 16 June 2020 We are writing to you because the court has listed our client's claim for a court hearing on 16 June 2020. We understand this is a difficult time for everyone, which is why our client is keen to resolve matters amicably by offering you the opportunity to pay a discounted balance on the sums due. We wanted to let you know that we are available to assist you throughout this time via numerous methods, from our Contact Centre, Webchat and our Customer Portal. We want to ensure that if you are or have been directly or indirectly impacted by COVID-19, that you still get to the best advice and reassurance about how to manage your account with us. Please call us on 0113 468 3021 or speak to us via Webchat so we can assist you at this time, we just need to understand your circumstances in order that we can help. Great News - 35% Discount Offer Our client wants to help with any possible financial burden that you may have and we are able to now offer you a pre-approved discount. This can be paid in one lump sum, or you can pay this over a pre-agreed instalment plan. This offer is open until 09 May 2020. What is even better for you is that you do not need to call us to accept this offer if this is affordable to you. Just log in, or register to use our Customer Portal www.bwlegal.co.uk and select "Customer Login". The pre-approved settlement and plan is ready for you to accept. You need to quote our reference, along with your address details and a couple of other security questions in order to register. Our Customer Portal is very easy to navigate and you can choose various different payment methods and payment dates. You can also use the payment calculator, view your account, statement and talk to us via Webchat if you need assistance. Strictly, without prejudice, the discount available is 35% from your current balance. If you do take advantage of the offer, the revised amount to pay will be £339.07 if paid by 09 May 2020. If you cannot afford to pay the discounted amount in full, do not worry. If affordable for you, you can still take advantage of the offer by repayment plan. We have a pre-approved monthly instalment amount of £20.00. The plan has been recommended to take into account estimated disposable income. We have also made it easy for you to accept the offer without having to call us. If this is affordable to you then simply log onto our Customer Portal and accept to pay the offer by instalments. You will be able to choose the first payment date and payment method. Once the offer has been accepted, we will withdraw the claim and notify the court that the hearing listed on 16 June 2020 does not need to go ahead. If you have filed a counterclaim, you will need to ensure that you inform the court and ourselves, in writing, that you no longer wish to proceed with the counterclaim. Important information about credit reporting When you opt to set up a discounted repayment plan, if our client already reports your account to a credit reference agency then they will continue to report your balance and payment each month. On receipt of your final payment, our client will then mark your agreement as closed with the status "settlement".   Yours sincerely, BW Legal
    • Note that most experts believe that re infection cases are faulty tests. Plus there are always a small number of people who can get something twice. I can attest to this as I was unfortunate enough to get Chicken Pox again as an adult, something I wouldn’t wish on anybody.
  • Our picks

Shark

Mis - Selling of Loan PPI policy

style="text-align:center;"> Please note that this topic has not had any new posts for the last 4842 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Hi Guys!

 

I had taken out a secured loan for 25K last year, with this came the PPI and interest charges which would total around 35K after 25 years.

 

I clearly explained to them on the telephone before taking out the loan and PPI that my employment is on a temporary short contract. I am now unemployed and proceeded with a claim for unemployment.

 

They said I did NOT meet their criteria for my claim to proceed because of my employment status.

 

I contacted their insurance department to look into my case as I believe I was mis - sold an insurance policy.

 

They investigated by listening into the telephone conversation which clearly stated my employment status and now they have agreed to issue a cheque for £3000. (I am awaiting this through the post)

 

On the basis of this, I was wondering if there was any possilbility of cancelling the whole loan as I am having difficulty getting any Unemployment Protection cover.

 

I did NOT want the loan unless I was COVERED.

 

Is there anway to make the loan Unenforceable due to the appalling mis-selling of the loan and insurance policy? I await any feedback, hope you can advise me.............

 

Best wishes for the New Year!

 

Shark

Share this post


Link to post
Share on other sites
Guest NATTIE

Are you saying you did not spend the money? You cannot dodge paying the loan back because the PPI was mis sold as the PPI has now been refunded to you.

Share this post


Link to post
Share on other sites

Dear natweststaffmember,

 

I have just received a letter confirming the error made by the Customer Account Manager re:Complaint I made for appaling mis selling of loan PPI.

 

The PPI is for both myself and my wife. The amount of £3000 they are issuing is the difference between the policy that was recommended and the cost of the insurance IF it had only been recommended for my wife.

 

I have not signed an acceptance to this offer as I firmly believe I was NOT buying what I wanted.

 

For instance, if I went to a showroom and asked to buy a red coloured car, I don't expect to come away with a green coloured car.

 

Also, I am not trying to 'dodge paying the loan'.

 

It is a matter of principle, the quicker the likes of large corporate organisations realise they cannot keep steamrollering over the general public and think no one will TRY to do something to challenge their ways, the better it will be for the rest of the people who are trying to get a FAIR deal.

 

Again, I welcome any feedback in my pursuit of justice, please comment/advise.

 

Best wishes,

 

Shark

Share this post


Link to post
Share on other sites
Guest NATTIE

My original post may have sounded harsh but have you spent the money for the Loan?

Share this post


Link to post
Share on other sites

Dear natweststaffmember,

 

I believe the money for the loan is not the issue, it is the principle of being mis sold something I did not want.

 

In response to your question, I have money to repay the loan but there is a high penalty charge to settle early.

 

Do you have a solution?

 

Please advise,

 

Regards,

 

Shark

Share this post


Link to post
Share on other sites

Hi Shark,

Firstly the high penalty charge that they will charge you for early settlement is a PENALTY CHARGE, As with all penalty charges this charge will also be unlawful, I cleared my Firstplus loan early and they charged me over £750 as an early settlement penalty charge, Did I accept that..Did I hell..Im due in court with Firstplus to recover this Charge on 05/02/2007.

 

With a secured loan you will also have legal fees to remove their security on your property, this I would expect to be in the region of £150 and I doubt if there is any way that you can avoid paying that.

 

Re the mis selling of the PPI Policy I would go for the whole cost of the policy and interest at the contractual rate (ie the same APR rate that you are being charged for the loan) from the date that the payment for the policy was taken out. I pressume the policy cost was like mine added onto your main loan ?

 

When they give you a settlement figure for your loan I would also ask them for a full breakdown of how they worked the settlement figure out and also ask for a breakdown of any Early Settlement Charges.

 

Once you have these you can give me a shout if you want any more info.

 

Also just for your Interest the Tonight with Trevor McDonald programme are running a programme on Payment Protection Insurance on Friday 12th January 2007. I had the film crew from Granada here yesterday to film an interview for that programme.

 

Good Luck with your claim ...

 

Ian

 

PS -- Hiya Natty -- good to see you back and helping kicking ass on here again m8..

  • Haha 1

Lloyds TSB -PPI - Full refund . 05/09/06 :D:p (As Seen on TV) :p

Halifax settled in Full.. :D 22/09/06

TSB First Claim SETTLED IN FULL 19/10/06 :D

Second Claim to Lloyds TSB - Settled in Full

Firstplus - early settlement interest charges - Challenged the use of the rule of 78 - SETTLED IN FULL 12/1/07

PPI - GE Money / Purpleloans / Firstplus - Now Settled after 1 year long hard fight.

 

 

 

If my post has helped you, please click the scales! :grin:

 

Anything said is my opinion and how I understand the law, always consult professional legal advice before taking something to court.

Share this post


Link to post
Share on other sites

Hi Reidnet,

 

Your advice is much appreciated, I look forward to your interview on the Tonight with Trevor McDonald programme on 12th of Jan.

 

Regards,

 

Shark

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...