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    • dunstonh
    • By dunstonh 10th Apr 12, 10:55 AM
    • 83,688 Posts
    • 48,725 Thanks
    dunstonh
    • #2
    • 10th Apr 12, 10:55 AM
    • #2
    • 10th Apr 12, 10:55 AM
    You can take it further if you wish. You will be asked to supply evidence to support your allegations and they will be asked to supply evidence to support their response. The evidence will be looked at and a decision made based on that.

    There is nothing wrong with having PPI. Its about how it was sold and set up. You are going to struggle on your current complaint as it is just a verbal allegation and your recollection is poor. Evidence appears to be against you.

    You may well be better taking the single premium with interest charged on it approach as that is more successful. PPI should ideally be monthly, or if front loaded, not have interest charged on it. Most front loaded has interest charged on it. FOS doesnt like front loaded with interest charged.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
  • nick_75
    • #3
    • 10th Apr 12, 11:00 AM
    • #3
    • 10th Apr 12, 11:00 AM
    thanks for your response the letter i have states that
    insurance was purchased as a single premium of £891.17
    it also illistrates interest is payable at a rate of 20.4% APR
    there are 60 monthly payment of £88.73 comprising loan repayment of £65.75 and insurance loan repayments of £22.98... they word it a bit confusing
  • nick_75
    • #4
    • 10th Apr 12, 11:01 AM
    • #4
    • 10th Apr 12, 11:01 AM
    im wondering if its worth getting a company to persue it rather than on my own as they may have more luck ?
    • dunstonh
    • By dunstonh 10th Apr 12, 11:42 AM
    • 83,688 Posts
    • 48,725 Thanks
    dunstonh
    • #5
    • 10th Apr 12, 11:42 AM
    • #5
    • 10th Apr 12, 11:42 AM
    m wondering if its worth getting a company to persue it rather than on my own as they may have more luck ?
    Claims companies use the same free of charge complaints process you use and tend to use a one-size fits all template. Template letters tend to have a lower success rate than personalised letters and claims companies do not increase your chance of complaint. They reduce it.

    It doesnt matter anyway as they will just refer the claims company to their earlier response.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • amersall
    • By amersall 10th Apr 12, 12:40 PM
    • 16,409 Posts
    • 18,396 Thanks
    amersall
    • #6
    • 10th Apr 12, 12:40 PM
    • #6
    • 10th Apr 12, 12:40 PM
    Reject the reasons for refusing your claim and let them know that this PPI was a single premium and paid over the loan term with interest.

  • nick_75
    • #7
    • 10th Apr 12, 1:05 PM
    • #7
    • 10th Apr 12, 1:05 PM
    do you think i should go back to the bank with this or straight to the financial ombudsman as they have suggested in their response
    • amersall
    • By amersall 10th Apr 12, 1:51 PM
    • 16,409 Posts
    • 18,396 Thanks
    amersall
    • #8
    • 10th Apr 12, 1:51 PM
    • #8
    • 10th Apr 12, 1:51 PM
    If it was not the final response from the bank then write back to them, if it was then send it to FOS.

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