Jump to content


Reclaiming PPI - Single Premium


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4924 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

I wonder if anybody could help me. I am currently 24 months into a 10 year secured loan. I am wanting to cancel the PPI to reduce payments. I believe that because it is a single premium PPI then I should be entitled to a refund. First of all what should i put in the letter ??? Also If Im entitled to refund what are my rights as to what I should get back?? Also how should I ask for the refund to be paid to me???

Link to post
Share on other sites

Have a read of the stickys at the top of this PPI forum and a few of the threads, you may find you could claim the whole amount back plus interest if it was miss sold to you.

Good luck

ali x

Btw I am no expert just give notes based on what I have read on here and other forums/sites, plus my own experiences and investigations.

 

All ccj's now dropped off file, 2 yrs to go to clear file.

All old debts either settled or made unenforcable.

 

RBS MPP-Full offer at 8 wks from first complaint

RBS Overdraft loanguard-full offer at 8 wks from complaint

Citicard ppi-with FOS finally paid 8 months after offer through FOS!

Capital one x2- with FOS

Monument ppi-with FOS

aqua x2 ppi-partialled settled still pushing for the rest

Black horse ppi-offers made and accepted except for one early loan they say no info held-still pushing for payment

Link to post
Share on other sites

I wonder if anybody could help me. I am currently 24 months into a 10 year secured loan. I am wanting to cancel the PPI on the accout.It is a single premium ppi which only covers me for the first years of the loan. First of all what should i put in the letter ??? Also If Im entitled to a refund what are my rights as to what I should get back?? Also how should I ask for the refund to be paid to me???

Link to post
Share on other sites
I wonder if anybody could help me. I am currently 24 months into a 10 year secured loan. I am wanting to cancel the PPI to reduce payments. I believe that because it is a single premium PPI then I should be entitled to a refund. First of all what should i put in the letter ??? Also If Im entitled to refund what are my rights as to what I should get back?? Also how should I ask for the refund to be paid to me???

 

Hello Nicho and welcome,

 

I would do as Ali has suggested, read around the forum and especially this link. You can quote what the FSA have stated,

 

Please read this link by the Financial Services Authority

 

Consumers to benefit from PPI refunds agreement

 

Did you agree to the ppi, was it optional or a condition of the loan:???:.

 

Normally they will, knock the refund of the balance of the loan, but you can argue that you want it paid to you.

 

Do not agree to sign any new agreement though:-D

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

Link to post
Share on other sites

Thanks for the advice. I dont think that i could take it down the road of being mis sold. I did sign for it. Who do i write to. Is it the agent / the loan company or the insurance company ????? Also what % of what I have already paid will pay back ??

Link to post
Share on other sites
Thanks for the advice. I dont think that i could take it down the road of being mis sold. I did sign for it. Who do i write to. Is it the agent / the loan company or the insurance company ????? Also what % of what I have already paid will pay back ??

 

You write to the company that sold you the premium. I would think it would be the loan Company:-D

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

Link to post
Share on other sites
  • 4 months later...

Hi nicho1120.

That was a long time between posts.

Hold tight, the experts will be along soon.

Good luck.

I Wish you everything you wish yourself.

 

NatWest Claimed £1,639. Accepted £1,344.

Natwest Paid me again as GOGW £1,656. Yes they can have it back if they say please.

Barclays 1 Claimed £1,260. Won by default. Paid in full

Barclays 2 Claimed £2,378. Won by default. Paid in full

Birmingham Midshires. Claimed £2,122. Accepted £2,075.

Link to post
Share on other sites
I wonder if anybody could help me. I am currently 24 months into a 10 year secured loan. I am wanting to cancel the PPI on the accout.It is a single premium ppi which only covers me for the first years of the loan. First of all what should i put in the letter ??? Also If Im entitled to a refund what are my rights as to what I should get back?? Also how should I ask for the refund to be paid to me???

 

Hello Nicho,

 

I think I put this up on another one of your threads

 

Consumers to benefit from PPI refunds agreement

 

I would just write a simple letter to them asking to cancel the policy from the date of the letter.

 

Now as for the refund, their standard practice would be to deduct the remaining amount, into the balance of the loan, therefore reducing the balance. Do not agree to have a new loan.

 

Are you then going to reclaim back the monies you have paid as it was mis-sold??????

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

Link to post
Share on other sites

Have a read of this thread as you can then decide if you think you have a case for reclaiming due to being mis-sold the policy. PPI - Some Notes for Claimants..

[sIGPIC][/sIGPIC]

 

Welcome to the Consumer Forums

Free advice and support to to solve your consumer problems.

You will soon discover what a friendly place this is and get lots of hints about standing up to consumer bullies or dealing with other consumer rights.

 

Which guide to the Sale Of Goods Act

 

New advice guide explains credit card rights

 

Help the CAG!!

Make a donation

 

ARE YOU A VICTIM OF COWBOY BUILDERS?

 

Has your RBS account been transferred to Santander?

 

Forum rules. Please read these before posting

 

PLEASE CHECK OUT THE CAG LIBRARY!! IT HAS LOADS OF USEFUL STUFF IN THERE. CLICK HERE

Link to post
Share on other sites

Duplicate threads merged.

Alan, Derby, UK.

 

 

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

 

________________________________

 

Sorry, but I cannot deal with your case by PM - please ask questions in your own thread. If you do not get a reply within 48 hours send a PM, with a link to the relevant thread, to any Site Team Member.

 

DO NOT SEND QUESTIONS ABOUT YOUR CLAIM TO ADMIN, or our WEBMASTER - YOU WILL NOT RECEIVE A REPLY.

 

Advice given is purely my opinion, and is not based on any legal training.

Link to post
Share on other sites

just wrote a letter basically saying that i wish to cancel the insurance policy with immediate effect and according to the recent report by the FSA i am entitled to a fair refund. I have asked for this to be either knocked off the outstanding balance or give me a cheque. I will not be accepting a new loan. is this o.k ????

Link to post
Share on other sites

There is no reason why they cannot change the repayments and balance withi the original agreement - so I would say your request should be fine.

Alan, Derby, UK.

 

 

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

 

________________________________

 

Sorry, but I cannot deal with your case by PM - please ask questions in your own thread. If you do not get a reply within 48 hours send a PM, with a link to the relevant thread, to any Site Team Member.

 

DO NOT SEND QUESTIONS ABOUT YOUR CLAIM TO ADMIN, or our WEBMASTER - YOU WILL NOT RECEIVE A REPLY.

 

Advice given is purely my opinion, and is not based on any legal training.

Link to post
Share on other sites
  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...