PPI Reclaiming discussion Part III

marshallka

matty4113 wrote: »

Yeah hopefully the ombudsman will as i cancelled it in 2007 but am still paying £30 on top of my loan, that must be something to do with the ppi.

Thanks Di, appreciate it

Have you sent the A and L one to the ombudsman about the telephone sale. I bet this will be sorted out for your before the Ombudsman even gets chance to look into it.. there is a waiting list of about 9 to 12 months...

marshallka

di3004 wrote: »

I thought it was all sort of strange when it was first announced when Carol Vorderman was leaving, from then onwards with FP they have been big news......:rolleyes: .
What I do know is that many staff have gone from their jobs with these and if I hear rightly more are likely to go, so something have not been right with these for a good while now.

There was a petition for her to leave i think i read and she would not as she got paid good money... She must have known what kind of a firm they were...

di3004

Did you ever read this about First Plus etc ?

http://www.glitec.co.uk/2008/05/is-the-first-plus-special-offer-a-good-deal/

di3004

And some news on PPI here:

http://www.glitec.co.uk/2008/11/ppi-has-very-little-competition-says-competition-commission/

And this

http://www.glitec.co.uk/2008/10/fos-still-cracking-down-on-loan-insurance/

marshallka

I didn't know that the Citizens advice could check the enforcability of a loan agreement for you:D .


To check the enforceability, or otherwise of the credit agreement your mother could seek advice from her local Citizens Advice Bureau. She would need to take with her the actual credit agreement.

http://www.bbc.co.uk/consumer/your_rights/credit.shtml

di3004

marshallka wrote: »

I didn't know that the Citizens advice could check the enforcability of a loan agreement for you:D .


To check the enforceability, or otherwise of the credit agreement your mother could seek advice from her local Citizens Advice Bureau. She would need to take with her the actual credit agreement.

http://www.bbc.co.uk/consumer/your_rights/credit.shtml

That is interesting and of course free of charge.......:D
Thanks hun.;)

dreamer33

marshallka wrote: »

Loan sizes of £25,000 and under are regulated by the consumer credit act which is overseen by the office of fair trading. Loan sizes over £25,000 are not regulated. The main difference between the two loan types is that when applying for a regulated loan £25,000 and under, the customer will receive a cooling off period over which time consideration is given as to whether to proceed with the credit agreement.
Unregulated loans do not have this compulsory cooling off period. You may be charged a penalty if you repay your loan earlier than agreed, and you should check each lender's individual policy.

Just been looking on the FISA website found this:

If you are applying for a secured loan the law requires you to be given copies of the
loan agreement (and all relevant documents) in order that you can read the
documents carefully and consider the loan properly. You will have seven clear days to
study the documents. During this time neither the lender or broker is allowed to
initiate contact (they can respond to any questions or queries raised by you). This
period, known as the “consideration period”, gives you an opportunity to take
independent advice. You will not be given a “signable” copy of the agreement until
the expiry of the consideration period. Once the signable documents have been
received you have a further seven days to consider the loan before either the lender
or broker can initiate contact. If you do not sign the agreement the loan will not

be granted.

marshallka

When you make an application for a loan you may hear this term mentioned.
When applying for a secured loan or mortgage of an amount below £25,000 legislation requires you to be given the loan agreement and any other relevant documents, so that you can study the documents carefully. You must be given time - 7 days - to consider the loan properly.
During this period, neither the lender or broker can initiate contact with you, however they can respond to any questions raised by you. This “consideration period” gives you time to take independent advice if you wish. You will not be given a “signable” copy of the agreement until the consideration period is over. Once you have received the signable documents, you will be allowed a further seven days to consider the loan before either the lender or broker can contact again.

maxdp

matty4113 wrote: »

Well I got a letter from alliance & leicester last week about my ppi (remember they replied stating wrong a/c no. etc) i replied to that and got nothing in return.
The letter last week stated that they needed more time etc but as the 80 days are up i am entitled to go to the ombudsman but they hope it wont come to that.
Well I am fed up of waiting so I filed complaint with FOS, posted it friday so will keep you posted. Does everyone agree i did the right thing? surely 80 days was long enough to sort it, i cant wait forever on the hope that they 'might' resolve it.
Many thanks in advance

Matt

Hi Matty
Think it is 8 weeks but I think you need to take it forward if they have kept you waiting. They like delaying tactics.:D

dreamer33

di3004 wrote: »

That is interesting and of course free of charge.......:D
Thanks hun.;)

I went to the cab about mis-selling the ppi, the guy basically said I did not have a leg to stand on and gave me a solicitor to speak to who deal in contract law, they were actually about 50 miles away from me.

However I did not see it this way and always had a gut feeling I had a case