PPI (again, sorry!)

[Broke of London]

Sorry Gina I should have been more specific! I was replying to Franky who already has his completion certificate.

[Muggins]

Sorry Gina I don't understand your reply! BOL I don't have to sign the forms for ppi and I'm certainly not going to make a company 40% richer! If I have been mid sold ppi then I'll leave it with the creditors as it is them who should have it not a company who are making money out of this!

[Broke of London]

@ Franky Your IP must have wider ranging powers than mine as I needed to sign a power of attorney giving them authority to act.

[orchid5]

To be honest, EIF seem to be a law unto themselves, they wrote to a creditor that i'd never even had, despite me having told them over the phone that i'd never had a credit card with them, those goal posts seem to be ever widening on this PPI matter! I shall be glad to out of this sooner than later hopefully, that's if EIF can get themselves sorted out!

[moneyprobs]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Franky

I never sent the claim pack back to EIF and they asked why not! I just said that I didnt want to do it! I have now received letters from creditors as EIF have been instructed to claim all late payment charges! Apparently they do not have to have the debtors authority to do this! Once again they will receive 40% of this! My iva has completed and I've had my cc! Wonder how they are going to sort these monies out now then! Or will it come to me as my case officer hinted that it may well do now that I've had my cc!!

just out of intrest, how long have you had your cc ??

[Muggins]

I got my cc last week! My case officer told me that they could ask for late payment charges without my authorisation but would require it for claims on ppi! If they have the power to claim without my authorisation tho why are they using EIF?? I do feel that they should have informed me of what they were doing! Who knows what they will do with any monies reclaimed!!!

[Broke of London]

The claims will go to creditors. It would be more than your IP's licence is worth to stash your money for their own benefit.

They are using EiF because claiming for thousands of clients is a big job and it needs to be outsourced. While the fees are a joke, it is better for the creditors who mis-sold PPI to hand over their ill gotten gains to the innocent creditors.

[Muggins]

Yeah sorry didn't think they wud stash it themselves it's late payment charges and not ppi! My case officer actually said that I may be sent the money as I've now completed! Think she was just trying to be nice tho! Surely all ips will be claiming for this on the debtors behalf! Do you know if anybody else has posted about this?

[Broke of London]

I haven't heard anything about reclaiming charges from my IP. You never know what's round the corner though!!!

[moneyprobs]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Franky

I got my cc last week! My case officer told me that they could ask for late payment charges without my authorisation but would require it for claims on ppi! If they have the power to claim without my authorisation tho why are they using EIF?? I do feel that they should have informed me of what they were doing! Who knows what they will do with any monies reclaimed!!!

it is strange that your ip suggested that you may receive the monies awarded, obviously it's not as black and white as some have suggested ??

[Broke of London]

It was the case officer who suggested this not the IP.

[KM1512]

Broke that is a very good comment about putting a note on the form when you receive it stating that you werent miss sold the PPI and that you knew what you were doing that why it covers me if any back fire

[Gettingthere]

Thank you for your responses, I cannot see anywhere in the forms where it states you can tick a box where it states you were not mis-sold, to top it off I received a call on my mobile (at work) from EIF about the forms which were only received at the end of last week, must say I am absolutely fuming that they have my mobile number and are phoning me at work to "discuss any questions I may have"! To be honest this lot seem to be as bad as the banks.

[Slipperysnake]

Hi
As far as I know coz I am not a legal expert
The PPI claims malarkey boils down to 2 arguments

1 That you didnt ask for it and you got it smuggled on to your payments
therefore its mis sold = Result

2 From what I have read on the internet it seems that pretty much every PPI was Mis Sold on the legal technicality of that they should tell you its interest based and tied in with your loan and 99% were not told that so thats why they can clain and get the money for you.

So when you got your loan Credit card you A told them yes you want it or B You dont end of the matter

when you get the letters to sign for the IVA reclaim business then you A Tell them that you did not take out any PPI = No further action needed
B You tell them that yes you took out PPI = They will push for a claim and win on the technicality of above that they will not have told you it was interest based

In my case I cant remember what I had for dinner last week never mind a 10 chat with a Loan Advisor 6 years ago at the best I assume I was told to take it on for sickness and work cover and she was a foxy young lady so I fall for anything and no way in hell was I told about interest based PPI and accruing amounts on the time of the loan nonsense either I was there in my lunch break she didnt have time to tell me it was sign here and there I just signed the agreements and out back to work

[MelanieGiles]

No-one should falsely make a claim for mis-sold PPI or any other products if they genuinely wanted them and entered into such agreements of their own free will. And IPs cannot force anyone to make a claim if they do not wish to.

It does seem that many of these policies were slipped under the carpet so to speak, but do be sure you all have genuine claims to make before you commit - as you may well have nothing to gain from this personally apart from a redistribution of cash around your creditors.