Cancelling PPI CAN BE DONE!!!!!

Old_iron_balls

You have the terms and conditions on your side by the looks of things
If it says in the t&c's you CAN cancel and may be entitled to a refund, id settle for no less.

Perhaps write back saying your not satisfied witht the response you have received.
your considering taking your business elsewhere etc etc.

its worth one more letter at least

maforduk

Please can someone give me advise on this letter, before I send it.
Thanks.

maforduk wrote:

FREEPOST
Head Office Customer Relations
London
E14 5HP

Re: account number ********

COMPLAINT
Your Reply Letter Reference Number: ********

Dear Sir or Madam,

My first response to you:
“Upon applying for the loan online and being accepted I have noticed that it is a Protected Loan. I did not want and did not choose to have PPI on the loan. I have been advised that I should therefore be able to cancel the PPI contract at any time and receive a partial refund of the premium that I have paid. In view of the way I was mis-sold the insurance, I would also like to ask for a full refund of the whole premium.

I would appreciate a reply to this letter within fourteen days. If you reject this complaint, I would be grateful if you could explain whether you provide an internal appeals process. If you do not, please supply me with a final response letter, so that I can take up the matter with the Financial Ombudsman Service.”

The response I received from you:
‘Please see Copy Attached’

What I require:
I require Full reimbursement of my PPI.

My targets to resolve this matter:
After receiving your letter reply, I am not happy with your response. I believe I was mis-sold the PPI on the grounds that I never asked for it when I applied online. I have had previous loans with you and I know about the Terms & Conditions regarding the “30 days no cost to cancel” the loan.
This is where I believe the legal mis-selling comes into it. I was under the impression that there was no PPI on the Contract as I specifically did not ask for it online. As a result of needing the loan to go through as quickly as possible, I signed and returned the contract under the impression I was paying back just the loan. It was only recently that I realised that it had PPI on the loan after accessing it through the internet banking service.
I would like the PPI cancelled from here on and on top of that a full refund.
If this does not happen, I will be sending a final letter to Barclays allowing you 14 day’s in which to reflect upon your decision before starting legal proceeding’s.



Yours faithfully,


Mark Ford

Old_iron_balls

maforduk wrote:

Please can someone give me advise on this letter, before I send it.
Thanks.

"As a result of needing the loan to go through as quickly as possible, I signed and returned the contract under the impression I was paying back just the loan"

id leave this out, apart from that its a good letter.
Firm but polite, and straight to the point.

good luck with it

milamba

Hello all, I'm new to this board but had to register to ask for advice after reading all the good advice given to others, I am at present in dispute with my bank regarding the Payment Protection Insurance on a loan I took out last July. The PPI portion of the loan is 52.80 per month and at the time of applying (over the phone) I said that I did'nt think I needed it, and if I took it out could I cancel at a later date? Yes no problem I was told, but now I have decided my job is secure and I no longer need it I have to take out another loan to repay the original, then take another loan unprotected. The problem now starts, as the original loan last year was at 8.9% and this yr they are at 13.9% so I would now be paying an extra 4.00 a month and not saving the 52.80 I thought I would! I have put in a complaint and all I'm getting is but it explains all this in the small print! I'm going to complain to the Ombudsman re being missold the PPI but has anyone come across this before? any tips on how to put my complaint across?
Many thanks for reading this.

Old_iron_balls

Hi and welcome.

Have a good read here...

http://forums.moneysavingexpert.com/showthread.html?t=117175

It covers just about everything your looking for

nej

Hi all,

I'm plodding along with Natwest trying to get somewhere. I've now got confirmation that they've cancelled the PPI on the loan (they ignored the refund request for now...).

But, the amount has gone down from £379 to £370 per month - a whole £9 reduction. I wasn't given a monthly figure in my documentation without the PPI, but it does state on one piece of paper the total PPI amount, which is over £3000, which I work out to over £50 per month, before interest. I've written to them again requesting that they explain mathmatically how it is only £9 (and to request a refund again), but has anyone else got an idea, or are they just trying to pull a fast one? The loan was taken out in early 2002, was for £15,000 over 5 years.

Cheers,

deadmansgun

Hey OIB {please refer to my pervious posts}
Just to let you all know I'm going for the jugular and going for the whole lot as I believe it was mis -sold to me.

I'll let you all know the outcome!!

gingerfurball

Hi guys, I've posted a couple of threads in the DFW and they advised me to go here. My DH and I took out a loan with A&L a couple of years ago. The loan was for £16k and the girl more or less told us we had to take out PPI or we would not get the loan.

My DH was (and still is) self employed and I am a homemaker. I am going to cancel the PPI, but I need to know which road to take...(a) just cancel or (b) cancel and claim mis sold because of being self employed.

I'm not even sure if being self employed is an issue, but from what I've read in these threads it possible is.

Any advice gratefully recieved.!

Old_iron_balls

deadmansgun wrote:

Hey OIB {please refer to my pervious posts}
Just to let you all know I'm going for the jugular and going for the whole lot as I believe it was mis -sold to me.

I'll let you all know the outcome!!

Good on ya !
Good luck

Old_iron_balls

gingerfurball wrote:

Hi guys, I've posted a couple of threads in the DFW and they advised me to go here. My DH and I took out a loan with A&L a couple of years ago. The loan was for £16k and the girl more or less told us we had to take out PPI or we would not get the loan.

My DH was (and still is) self employed and I am a homemaker. I am going to cancel the PPI, but I need to know which road to take...(a) just cancel or (b) cancel and claim mis sold because of being self employed.

I'm not even sure if being self employed is an issue, but from what I've read in these threads it possible is.

Any advice gratefully recieved.!

b

If you feel you were mis sold then thats the path id follow.
sounds like you have quite a good case.

i ) the girl said you HAD to take out the PPI or you wouldnt get the loan.
ii ) hubby is self employed

Write in and see what response you get. Then take it form there.
oh, dont forget recorded delivery

Good luck :beer: