PPI Reclaiming discussion Part III

marshallka

smitchy73 wrote: »

Thanks Di and the rest of you,
The first loan was taken out in 2002, this was settled in 2006 when we refinanced to get another loan, we then settled that loan in 2007, we did get some rebate's back, but it is the whole PPI we want, as mentioned before we were asked questions and according to our answers, we would want to have protection, but it was never explained as PPI or what was getting added to the loan, the 2nd one had a tick in the box for PPI which wasn't done by us, and this is clear in the paperwork with our handwriting and the tick in the box.

I will prepare letter this evening or tomorrow and get it sent away.

What is an SAR?

The loans were with Clydesdale Bank and I think were covered by FSA back then, they certainly didn't say anything about not being covered in the letters at the time.

Just had a quick look back at your posts and I would do as maxdp and Di say and write another letter too. I see you have now done that and also state your reasons for not taking the complaint to the FOS within the time limit. Then they will either reply again or they could not ackowledge the letter as they have already given a final response to you. As this could happen then I would perhaps go to the FOS now and explain the situation and see whether they will step in now...

Was one loan through a broker and the top up loan from a lender??...If this is the case then you need to write to both companies if you have not already done so and also explain this to the FOS as they may need a final response from both companies.

I hope this makes sense to you and good luck..

marshallka

smitchy73 wrote: »

I've dug out all the paperwork, have the original papers and all the letters from the first attempt at reclaim.
On loan 1, 2002, they sent us a copy of the form we filled in, well it was filled in by the bank person, and if I remember asked us for the information, on that form the box for PPI has been ticked,, the only thing filled in by us is the signature!
On loan 2, 2006, they have sent us a copy of the demands and needs questionnaire which you can't read because it is a photocopy, but there are no questions, just that we have no other protection and they recommend we take PPI.
Obviously they refused on all grounds to a refund and their words in summary were
"In summary then I cannot uphold your complaint. In accordance with the standards applicable at the time and the evidence available to me I conclude the Bank's representatives acted with due skill, care and dilligence in arranging the policies. I also believe that you made an informed choice in respect of the suitability of the product to meet your overall objective".

They had also said "You will appreciate that I cannot comment on what may or may not have been said during the discussions between you and the member of staff involved. I assure you, however, that all staff involved in the sale of regulated products are aware of their duties and responsibilities."

Any thoughts guys and gals?

Those are just standard fob offs and you really need to get things moving again now and forget them. I have written a post above.

They will also know you mean business when you have requested the SAR..

smitchy73

Both loans were directly through the bank.

Should I apply for the SAR first before going to FOS or just write to FOS and explain situation, or just try writing again to the bank, haven't written to them although their last letter did state final response.

di3004

marshallka wrote: »

Thanks Di. Not received it yet but sure maxdp will email it soon.

No problem, I see maxdp is going to see a new baby.......awe:A , cute.

There are 2 decisions on one attachment.;)

marshallka

smitchy73 wrote: »

Both loans were directly through the bank.

Should I apply for the SAR first before going to FOS or just write to FOS and explain situation, or just try writing again to the bank, haven't written to them although their last letter did state final response.

I personally would do both or you could wait to see if they reply again...

Yes definately get the sar - there might be proof of misselling here.

di3004

smitchy73 wrote: »

Both loans were directly through the bank.

Should I apply for the SAR first before going to FOS or just write to FOS and explain situation, or just try writing again to the bank, haven't written to them although their last letter did state final response.

Hi there
Do you know if they were covered by GISC then smitchy?
If that is the case the ombudsman will be able to investigate your complaint, as I see one of your loan were before that of 2005 where then the FSA came into regulate finance companies.

I have had one returned to me by the FOS as they were not able to investigate who was not covered then by a regulator such as GISC it would have been before Jan 2005 only ours was not, although I believe that All banks were under jurisdiction.

If you feel you want more info on your accounts I would say request a SAR, but as you said you already have the agreements this is mainly what is needed, and if you have no confirmation of a written breakdown of how your ppi was calculated at settlement they should be able to provide this to you free of charge.;)

An SAR request is 40 days, but they can still send you this earlier than the 40 days which is the timescale on these requests.

missshearer

I took out a £10,000 loan in June 2005 payable over five years with RBS trading as MINT. There was a £2,319.72 charge for loan protection which after reading on this site does seem rather a lot. Once interest is added on it totals £14,981.40. I'm still paying and the paperwork states that even if I wanted to pay the loan off after three quarters of the term (which isn't far off now) then I would still have to pay £3,401.25. Is there anything that I can do? Am I entitled to anything back. I would appreciate any help or advice. Thanks.

davemchol

Hi again just about to send off my SAR request to the Halifax. I am also asking for details about my credit card I have with them. Will I have to send off a separate request to their credit card service or will I get all I need from there Halifax address

di3004

missshearer wrote: »

I took out a £10,000 loan in June 2005 payable over five years with RBS trading as MINT. There was a £2,319.72 charge for loan protection which after reading on this site does seem rather a lot. Once interest is added on it totals £14,981.40. I'm still paying and the paperwork states that even if I wanted to pay the loan off after three quarters of the term (which isn't far off now) then I would still have to pay £3,401.25. Is there anything that I can do? Am I entitled to anything back. I would appreciate any help or advice. Thanks.

Hi there, before we go any further here, was you aware of the ppi when you first taken out the loan ?
Did they give you the option of having this or not ? or tell you it was optional?

You may have grounds to reclaim on mis selling grounds where you can try to get this ppi back but if you have ever made a claim on this, for example for sickness and or unemployment then you will not be able to complain on this.

It seems like to me you have a case already as they did not make you aware of how this ppi worked and the extra costs you would be paying on this.

Any further info on this you could provide us with we can then take this to the right direction thanks.;)

marshallka

davemchol wrote: »

Hi again just about to send off my SAR request to the Halifax. I am also asking for details about my credit card I have with them. Will I have to send off a separate request to their credit card service or will I get all I need from there Halifax address

If the card is with the halifax then you should get it all from the same SAR. A SAR is about a "subject" and not a loan or credit card.

Good luck