Single premiums
Single PPI premiums were often paid in relation to personal loans and finance agreements. How much you receive depends on whether the loan is still in force:
• If your loan is ongoing, the lender will calculate the monthly amount you should have been paying (minus the PPI), and this will be deducted from the total amount outstanding.
• If the loan has been repaid in full, you’ll receive a refund for the amounts you paid. The lender should also calculate a new redemption figure as though the PPI had never been paid, and repay the difference between this and the amount you actually repaid on redemption.
IF THE CLAIM IS REJECTED Should there be no response from the lender within eight weeks, they reject your claim,
or you are unhappy with the refunded amount, you can contact the Financial Ombudsman Service for a decision. This must be done within six months of the lender’s final response to you.
The Financial Ombudsman Service is the official channel through which disputes are settled between consumers and lenders. If your case is taken on, they will confirm in writing that an adjudicator is looking at both sides of the dispute, and expect the lender to back up their decision with further information.
It may take up to two years to reach a decision, and any interim offers made by the lender will be forwarded to you. If you’re not happy with the final outcome, you can request that an official ombudsman reviews your case for a second opinion.
http://www.bbc.co.uk/news/ business-36950803
http://www.moneysavingexpert. com/reclaim/ppi-loan- insurance#how
http://www.thisismoney.
co.uk/money/cardsloans/ article-1606455/Reclaim-PPI- premiums-payment-protection-
insurance.html
https://www.fca.org.uk/ consumers/payment-protection- insurance/claim-mis-sold-ppi
http://www.which.co.uk/ consumer-rights/advice/i-think- ive-been-mis-sold-ppi-what- should-i-do
http://www.which.co.uk/ consumer-rights/advice/how-to- reclaim-mis-sold-ppi
To advertise call Lucy on 01737 557888 or 07703 209292
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