When did you get your letter wantmylifeback? I got mine today. It's been going on for ages and I think as they initiated the review ie it hasn't been done by third party solicitors they are relying on us to be thick and accept what they are saying in the letter.
7 year IVA completed in December 2016 - there is light at the end of that tunnel
To be honest we didn't even know we were paying PPI but then they sent us a letter saying we could have been mid-sold PPI but we were shocked that we even had any and replied to their letter but that was months ago, we then got this the other week. Cath, out of interest was yours a loan and were you paying a seperate PPI payment monthly or as a lump sum. We don't even know what PPI we had paid. Our IVA is also completed with an early Full and final, not sure if that makes a difference.
Yes, I knew I had the PPI and I even remember at the time of taking the loan out I thought it was a bit odd that they were selling it to me as I was self-employed. I even asked the guy...so if my business fails can I claim? And he said yes.
Just prior to my IVA, I paid some company £50 to look in to it for me but when I saw their fees and the fact that they wouldn't take you if you were in IVA they wouldn't pursue it, I didn't take it any further.
I did think about it on occasions but when they sent me the letter saying they would review it, I took up the offer. To be told that I was genuinely mis-sold and in the next sentence but we're not paying back the monies is wrong IMO.
I believe it was front loaded and I was paying for the PPI within the monthly payment.
I guess my next steps are to draft a letter to them to try and get their 'stance' resolved.
Good luck with yours too xxx
7 year IVA completed in December 2016 - there is light at the end of that tunnel
I don't think it is right but I wasn't sure if because we settled with a full and final offer that they had put that down as a condition but there is no mention of it. We did all of our application for the loan on line, it was part of a together mortgage.
This has nothing to do with the terms of the IVA, moreseo the terms of contract between lender and customer. As I am Cath's IP, I will look at this when she sends the paperwork to me, needless to say we will be extremely robust in our response to NRAM.
Yes - and I have a meeting with a leading barrister on 10 August to discuss this and other matters surrounding PPI reclaims. Will let you know the outcome as soon as I have an answer.
Yes - draft guidance is now in the process of being finalised - the only area still being reviewed is the issue of creditor set-off. Hope to have something solid on this over the next couple of weeks.
