PPI - The Funding Corporation

[pressandgo]

Re: PPI - The Funding Corporation

Hi - I am just about to start a claim and came accross this thead - sounds difficult - but will give it a go.

[L'pool64]

Re: PPI - The Funding Corporation

Good Evening Folks,

don,t know if any one of you have the original loan agreements, that you can have a look at? Most loans had the ppi added in the form of a single premium, which was added to the amount borrowed and then interest charged on the total.

e g say amount borrowed for a car was £10,000. The cost of the ppi was £2000.
your loan agreement would show £12,000 borrowed at x% interest rate. Bearing in Mind that the companies already had their monies made from the ppi premiums, customers were in effect being charged twice. The regulators have stated that this practice was/ is unacceptable. Try this approach. Apart from anything else, the regulators have said that this is wrong, there is no " he said, they said"......You can get more information from a bulletin issued by the FSA in 2008 but you can also get correct wordings etc from a search on the net under " ppi, reasons for mis sale. You do not need a solicitor, just a very strongly worded letter. Remember, reclaim of monies is important to you, so don't give up. Our wonderful Victoria wrote many letters and won every single one of her cases. Finally, finally, there is the small claims court......

hope this is of some help,

:beagle:

[sarah nicholson]

Re: PPI - The Funding Corporation

Good luck. Is yours an old claim? Had I not found the very helpful people on this forum I would have given up after receiving solicitor email stating such claim would be time barred. I called the Financial Ombudsman helpline and they said it is not too old at all and they have clients they are acting for who took ppi on mortgages over 20 years ago. Good luck!

[sarah nicholson]

Re: PPI - The Funding Corporation

Thanks so much for your support and advice. I looked at my policy and in actual fact the ppi is listed separately with the interest for ppi added separately and the repayments have a larger amount + smaller ppi ampunt so I don't think they have put interest on twice. I did call FO helpline to ask whether I can claim or if the policy dates back too long ago and may be "time barred". They said absolutely not and they have clients making claims on mortgages taken out 20 + years ago. Especially since I have all original documentation. Thanks for your thoughts though. Will keep u updated.Sarah

[polka dot]

Re: PPI - The Funding Corporation

FYI

The Funding Corporation is going out of business ,half their staff have gone already and it will be winding up the business over the next 6-12 months

Get your complaints in now they will probably sell their book of debts to someone else and there’s no guarantee if that new company will be worse and as the current staff know they will be made redundant I can’t see them wanting to spend loads of time building a strong case against you, they may as well just give you a refund.

[mrsshippo]

Re: PPI - The Funding Corporation

Hi all

I am new to all of this so please excuse me if I ask any daft questions!

I am in the process of attempting to reclaim mis-sold PPI from the funding corporation as well as for some store cards I had when I was a teenager (big mistake!)

My car finance from TFC was taken out in 2009 so they would have been regulated by then but I don't have any paperwork (I threw it out when I settles te finance in 2011)

I am certain I had PPI and that it was extortionate and remember arguing (and crying) about the repayments of it when I took the finance out but was told I had to. They know how desperate I was and am sure took advantage of that...

Has anyone had any success in reclaiming against TFC? Also I saw above that they are going in to administration which is a bit of a worry...

Any advice/comments would be gratefully received either about claiming against TFC or for old store cards.

[pressandgo]

Re: PPI - The Funding Corporation

Interested to know the sources of information relating to them going out of business.

[pressandgo]

Re: PPI - The Funding Corporation

Mrshippo - not sure if you have your own thread but some good news for you - 2009 loans were regulated and so the FOS will be able to help.

I am in for the long haul and will go to court if necessary to get redress - the money involved is to important to my family to let them get away with it. Daunting but justice must prevail