PPI Reclaiming discussion Part III

dreamer33

sacbaby37 wrote: »

Evening all, i hope ur all ok, i have been very busy so not been on for awhile, just been reading back about 50 pages lol to catch up with u all. Ur all been very busy i see with one thing or another, just to keep you up to date, i recieved second letters back from sky, cap one and barclays refusing that they mis sold me the ppi even though i was a self employed childminder. And they are refusing to give back my credit card charges, cap one and sky offering me a meesly £25 each and barclays saying they reduced there charges to £12 so wont be offering me nothing and all are saying its there final response.... So i have sent off for SARs from them all, is there anything else i should be doing or do i just wait now? Thanks again to all you lovely people, who obviously are not appreciated by all. lol sarah. xxxxx;)

Think its best to wait for your SARS to see what evidence you can use.

£25 is an insult I think. If its the final response you can go to FOS did Barclays enclose the FOS leaflet? Not sure about sky or cap one

dreamer33

INCIPIENCE POST The reason why some were successful is down to the fact that both the lender and the broker are responsible.

Most brokers prior to 2005 were not regulated or authorised to sell insurance products and therefore done so by way of proxy to lenders.

This is why lenders would call before paying out any money to confirm details of the loan and the policy. The lenders have to ensure due diligence in the sale say for just to cover their own asses.

The agreement of sale is between the lender and the insurer, once the loan has been passed to the lender, and therefore the risk is also passed.

The lender basically buys the lead for the loan and the policy and then compensates the broker for his part in the transaction, however in some cases the broker is regulated and authorised to advice in the sale of insurance ergo he has to follow the regulations and can be taken to task if he doesnt.

It is of course difficult to argue with the lender, as they are told what an how to deal with such actions, and they know when people claim foul on mis-selling the lender basically shrugs it off with "me know no" we never sold it. Which is correct, however they were still party to the sale.

Now if the lender told you that despites all its regulatory badges and memberships, that you would have no recourse on a claim for mis-selling would you have taken out the loan or PPI?

Most likely not, therefore the lender was not acting in your best interest, and therefore withheld vital facts, not withstanding to issues such as conflict of interest.

Now people are accepting this as law that the broker is responsible, only to be told by the FOS that the broker was not regulated and therefore not covered by the mediation of the FOS.

If a lender is saying that you need to approach the broker then you can of course write to the broker, and if they dont comply you can then issues 2 complaints to the FOS, one for the broker and one for the lender.

If you are going after the lender then you need to ensure that you tell the FOS, as to why you believe that the lender was equally responsible, and that the lender had misrepresented itself by ways of not disclosing that you had no recourse with them and that they had ultimately acted as the intermediary for the insurerer, and that its stance now is unfair as the lender did not make you aware that the responsibility of the loan and the PPI was not theres.

Bottom Line is that the Lender profited more than any other party in this transaction, and therefore is party to the mis-selling by association.

The ombudsmen will base its decision on what is fair, and if the lender is so "Nothing to do with me" then the lender will have no problem returning the account to a position to where it was had the PPI not been taking out.

Again.. When you go after the lender via the FOS make sure its not just about the sale.. you have to fight every possible scenario in one go.. You have to show that the lenders actions or lack thereof was unfair and detrimental to you the consumer, you must also argue that had you been aware of the ultimate responsibility then you would never of take out the loan. This argument is given further weight by the branding of the credit agreement and the branding of the policy documentation.

Remember that you are a consumer and are not privvy to agreeements between brokers and lenders and you are no way capable of knowing who is reponsible for what.. you have to assert your own assumptions.

Then the ombudsmen will rule on what is ultimately fair to you the consumer.

Furthermore, any legal action in these cases, the lawyers allways go after the lender.. so you have to ask yourself why this is so.. and why you are not privvy as to why.

And that my friends is why you are the dumb consumer that knows no better, and this will help your case.


Sign The Petition on Firstplus Interest Rates
http://www.ipetitions.com/petition/F...InterestRates/

Then Take Action
http://www.firstpluscomplaints.co.uk/take-action/

di3004

sacbaby37 wrote: »

Evening all, i hope ur all ok, i have been very busy so not been on for awhile, just been reading back about 50 pages lol to catch up with u all. Ur all been very busy i see with one thing or another, just to keep you up to date, i recieved second letters back from sky, cap one and barclays refusing that they mis sold me the ppi even though i was a self employed childminder. And they are refusing to give back my credit card charges, cap one and sky offering me a meesly £25 each and barclays saying they reduced there charges to £12 so wont be offering me nothing and all are saying its there final response.... So i have sent off for SARs from them all, is there anything else i should be doing or do i just wait now? Thanks again to all you lovely people, who obviously are not appreciated by all. lol sarah. xxxxx;)

Hiya Sarah

Its so good to hear from you....:D

The SAR's may come back with some surprises hopefully.;)

Hmmm your being fobbed off then ?

So are those your first responses?
If so write back to ask them to reconsider for you, and wait until you receive the final response, you can then move on to the FOS is still successful. X

dreamer33

di3004 wrote: »

I can't see no harm done here dreamer, maybe contacting the help desk at the FOS can confirm where you stand with this with what Incipience said.;)

Yes I think so too.:j

di3004

Incipience wrote: »

Following up from that post of mine.. I have developed a three pronged attack

1. The Broker
2. The Lender
3. The Insurer

Each with different complaints, however if the broker is gone tits up or was unregulated then you just pursue the Lender and Insurer.

Just remember that your complaint is not just about the sale of the payment protection.

If the Lender is giving you a hard time, then its time to return the favour.

Send in as many complaints as possible, making sure they are all unique.. Each complaint can be taken to the Ombudsmen.

Pip

This is also some useful info posted by Incipience in this post above.;)

sacbaby37

dreamer33 wrote: »

Think its best to wait for your SARS to see what evidence you can use.

£25 is an insult I think. If its the final response you can go to FOS did Barclays enclose the FOS leaflet? Not sure about sky or cap one

Hi Dreamer yes it was the final response from them all and they all included the FOs leaflet. sarah. xx

di3004

dreamer33 wrote: »

Yes I think so too.:j

I am actually thinking the same now on one of mine........as you know I won the Nemo case through the FOS, that was on the loan advance sale with them, now the broker that sold the first loan are those of Twopart/eloan that arranged this for me, so maybe I should go back to Nemo on this for the first one......:D As you know the brokers "twopart" are no longer active anyway which is being dealt with - with the FSCS....maybe worth a try me thinks.....:D

pip2805

dreamer33 wrote: »

They all talk crap to get you to buy:eek: . I think it may well be the lender that pays out as the loan is through them even though you used a broker

I was also informed by the broker when I complained that they don't offer advice, I have calls which clearly state he advises us to take out ppi:mad: and also nearly says recommends but does not get the whole word out but you can see in the transcripts and hear in the call what the word was.

Its really annoying

We were told at the start by first plus(barclays) that our complaint was with the broker, so thats who we have gone after. The fos said the lender were responsible for their brokers actions under section 36 of the consumer credit act. It remains to be seen if they follow this up by ruling that first plus pay us compensation. I hope they don't cos it may give us all a chance of two bites of the cherry. The broker for the mis-selling and first plus/barclays insurance for the lousy rebate. My opening argument about the rebate is that surely you are entitled to a refund of 100% of something which has been ruled to have been mis-sold to you?????

sacbaby37

di3004 wrote: »

Hiya Sarah

Its so good to hear from you....:D

The SAR's may come back with some surprises hopefully.;)

Hmmm your being fobbed off then ?

So are those your first responses?
If so write back to ask them to reconsider for you, and wait until you receive the final response, you can then move on to the FOS is still successful. X

You too di, hope your doing well, yes i think they were the usual standard letters, they were there second and final responses, so just waitin for the SARs now. xxx

dreamer33

sacbaby37 wrote: »

Hi Dreamer yes it was the final response from them all and they all included the FOs leaflet. sarah. xx

Then you can either wait for your SARS or complain straight to FOS. Hope you get them for whats yours.;)

Good luck