PPI Reclaiming discussion Part III

marshallka

Di, I added this to my complaint to the insurer but sent it to the adjudicator that told me she was closing the complaint against Firstplus and making it against the insurer

My complaint is about the term of the PPI policy that I feel was unfair and we had not idea of this term and how this was worked out. Because of this term we then paid for a policy that we no longer used. We feel that this term on the policy was only fair to the insurer. Am I being sent around in a big circle here and going to be back to the "no sorry cannot help as outside our jurisdiction". Also we wanted to complain that their was no cancellation on the policy of either 14 days or 30 days.


From the time we had the policy which was the day we signed the credit agreement with Firstplus we had only the 7 days cancellation on the agreement. After that time if we wanted to cancel the PPI then the policy gave us cancellation rights of what it said that was an unfair term. As the PPI was included in the loan agreement our statutory rights against cancelling a policy that included life insurance which should have been 30 days were then squashed. This again was an unfair relationship and produced a completely unfair agreement. If the term about cancellation was upheld by the Ombudsman then surely this make the whole agreement between ourselves and FIrstplus unfair.



Termination of Cover and Benefit
If you cancel your policy before its normal expiry date you will receive a rebate of your premium provided you have not made a successful claim. Your insurers will not calculate your rebate proportionally, rather under the Rule of 78 set out in the Consumer Credit Act 1974.

dreamer33

marshallka wrote: »

I asked that too Di??

I asked if they wanted me to concoct my complaint to them about the rebate but was told when I telephoned the other day that they would write on my behalf and my comments about the rebate had been noted. I then thought it best not to confuse things again so I will just have to wait and see.

I think its the worst time having to wait

dreamer33

marshallka wrote: »

Yeah I know, its so unfair and then they wonder why people fight back at them...:mad:

thanks maxdp...:D

Found this:

http://news.sky.com/skynews/Home/Business/Bank-Of-England-Policymakers-Slash-Interest-Rates-By-One-And-A-Half-Percent/Article/200811115144519

di3004

marshallka wrote: »

Di, I added this to my complaint to the insurer but sent it to the adjudicator that told me she was closing the complaint against Firstplus and making it against the insurer

My complaint is about the term of the PPI policy that I feel was unfair and we had not idea of this term and how this was worked out. Because of this term we then paid for a policy that we no longer used. We feel that this term on the policy was only fair to the insurer. Am I being sent around in a big circle here and going to be back to the "no sorry cannot help as outside our jurisdiction". Also we wanted to complain that their was no cancellation on the policy of either 14 days or 30 days.


From the time we had the policy which was the day we signed the credit agreement with Firstplus we had only the 7 days cancellation on the agreement. After that time if we wanted to cancel the PPI then the policy gave us cancellation rights of what it said that was an unfair term. As the PPI was included in the loan agreement our statutory rights against cancelling a policy that included life insurance which should have been 30 days were then squashed. This again was an unfair relationship and produced a completely unfair agreement. If the term about cancellation was upheld by the Ombudsman then surely this make the whole agreement between ourselves and FIrstplus unfair.



Termination of Cover and Benefit
If you cancel your policy before its normal expiry date you will receive a rebate of your premium provided you have not made a successful claim. Your insurers will not calculate your rebate proportionally, rather under the Rule of 78 set out in the Consumer Credit Act 1974.

Do you think I should sent the insurers anything then or wait to see what happens first?
I have to see what is on that agreement first I think

marshallka

dreamer33 wrote: »

Just been reading the misrep act and I actually think I could have them for fraudulent misrep:

Fraudulent Misrepresentation
A fraudulent misrepresentation is a statement of fact made without belief in its truth either recklessly, knowingly or without caring whether it is true or false with the intention that it should be acted on and it is in fact acted upon.

Think the call I have proves this mmmmmmmm

Treading on dodgy ground here with this one...if you can prove the fraud then go ahead otherwise just go for misrepresentation 1967

A good idea one is here
http://www.consumerwiki.co.uk/index.php/PPI:_Particulars_of_Claim

marshallka

di3004 wrote: »

Do you think I should sent the insurers anything then or wait to see what happens first?
I have to see what is on that agreement first I think

I would wait to see what happens with the complaint. What did you state to the FOS...???

di3004

dreamer33 wrote: »

Found this:

http://news.sky.com/skynews/Home/Business/Bank-Of-England-Policymakers-Slash-Interest-Rates-By-One-And-A-Half-Percent/Article/200811115144519

Wow cool hun.
I don't think it will affect my mortgage though, mine is fixed......:rolleyes: with Cheltenham & Glos (through Lloyds tsb).......good for the others though.;)

di3004

marshallka wrote: »

I would wait to see what happens with the complaint. What did you state to the FOS...???

I really can't remember it all at this point, but tomorrow I will dig out the paperwork, I have the copy of the complaint form, but I do remember saying that for a loan for 25 years and paying off just 16 months into the loan that we do not think was a fair rebate given.

Will have to check on the rest of it, but we did make out it was not a fair rebate settlement and felt it put us out of pocket etc.

dreamer33

marshallka wrote: »

What are you going to say about the limitations act... its section 32 that says about concealment etc...


32.--

• (1) .... where in the case of any action for which a period of limitation is prescribed by this Act, either-
  • (a) the action is based upon the fraud of the defendant; or
  • (b) any fact relevant to the plaintiff's right of action has been deliberately concealed from him by the defendant; or
  • (c) the action is for relief from the consequences of a mistake;
• the period of limitation shall not begin to run until the plaintiff has discovered the fraud, concealment or mistake (as the case may be) or could with reasonable diligence have discovered it. ....
• (2) For the purposes of subsection (1) above, deliberate commission of a breach of duty in circumstances in which it is unlikely to be discovered for some time amounts to deliberate concealment of the facts involved in that breach of duty. . . . (5) Sections 14A and 14B of this Act shall not apply to any action to which subsection (1)(b) above applies (and accordingly the period of limitation referred to in that sub-section, in any case to which either of those sections would otherwise apply, is the period applicable under section 2 of this Act).

Well as I did'nt get my SAR request until 4th January 2006, I did not have all the info needed to have discovered the misrepresentation ie telephone call recording.

marshallka

dreamer33 wrote: »

Found this:

http://news.sky.com/skynews/Home/Business/Bank-Of-England-Policymakers-Slash-Interest-Rates-By-One-And-A-Half-Percent/Article/200811115144519

Been on the Mortgage thread all night about this one...:eek: . I want to know if Intelligent Finance are passing it to SVR customers.. I really doubt they will now and I have just refused the tracker they offered last month of 1.7% above BOE base rate...:mad: .

Giving them a call tomorrow see if they will still let me sign to it although I really doubt they will as they have withdrawn everything today... no LTV above 75% now...:eek: .