I am sure that many others, Kelherring, will look at their potential claim now in a different light following the additional information Tom has provided us with. Good luck with it.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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What fab information on this thread! I am pleased the information on here has opened Kelherrings eyes as it should many others, for a while now I have seen endless threads started by people stubbornly refusing the cooperate with IP's to even investigate the possibillity of missold PPI and even regular posters on here admamantly saying they know for a fact they have never been missold.
I have always stated that people should at the very least cooperate with their IP's on this, regardless of whether their IP's use a claims management company who charges a high commission rate or not, there are many circumstances that the general public just aren't aware of that prove that their policies may have been missold.
In my own case we had 2 secured loans a few years ago (since paid off when we moved house), GE and First Plus, I did try to reclaim myself long before the IVA, GE didn't even bother replying to my communication and First Plus tried to pass the book saying they didn't missell to me as I purchased the loan through a separate loans company and not directly who has since gone bust, at the time both myself and my husband were in jobs that would see us both get full sick pay for 12 months and on top of that I wasn't aware that the PPI cover only lasted for the first 5 years of the policy (a 25 year policy) but the interest charged on the policy would still accrue over the 25 years! I reckon due to these loans combined coming to a total of £70k there should be a hefty amount of PPI to reclaim and am quite looking forward to when Mel's team investigates this for me.
I think the major factor that upsets me is if I had pursued this prior to the IVA, there would probably have been enough to either go some way to clearing our debts or even a F&F IVA
We will be getting round to this shortly lem, but I want to be more confident about the legal position and the guidance from our regulators before I launch into my own portfolio.
Wish I had some to claim, but looking back through all my paperwork I always refused it, hubby had some but we requested it because of his age and had to claim on it when he had his heart attack, so not a lot to pursue.
If life is what you make it, I must have been in a strange mood when I made mine
I have absolutely no idea how much PPI I had and whether it was " mis sold" I just don't remember, I kinda felt It was obligitory I think! I remember buying a sofa on interest free and being offered it, my friend ( way more sensible with money) told me not to bother with it I recall the salesman being a bit miffed
It all seems like a minefield - the figure I've been offered is 80% of the entire interest on that loan, even allowing for APR and so on, it seems a lot. Of course I want to see my debt go ASAP, but I can't help but feel a bit frustrated that I won't see a penny of it..
Final payment 1st April 2016.
Completion Certificate received 19th May 2016.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
Has your IP agreed to accept that offer Skeef143?
I don't know as yet Melanie, as I only received and forwarded the paperwork to the claims company last week. One of my creditors still has to reply, too.
Final payment 1st April 2016.
Completion Certificate received 19th May 2016.
I think the major factor that upsets me is if I had pursued this prior to the IVA, there would probably have been enough to either go some way to clearing our debts or even a F&F IVA
Totally agree with you there Lem, if i had claimed back my PPI prior to my IVA commencing i wouldn't have needed to have had one in the first place, food for thought!
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
Orchid5 I think you have just made a very good point in your last comment. It is something which I have been considering for a while.
Would you be interested in giving me your story as I sit on the Editorial board of RECOVERY magazine and I would like to propose this as a potential article. RECOVERY is the quarterly magazine produced by our trade body R3 and is read by most IPs and insolvency lawyers.
I am also linked to the BBC who are producing a number of radio programmes on this point and it is interesting because if you follow it up the chain the banks sit at the top. I really would like to speak to you about this please contact me direct if you want to explore this.
