PPI Reclaiming discussion Part III

dreamer33

oops Morning all

Keep forgetting to say this how rude lol. I get so engrossed reading the posts and trying to help with what I can lol

dreamer33

sparky0107 wrote: »

Morning everyone,
Recieved a letter from FOS, they are trying to get my claim for mis-sold PPI on RBS credit card to an adjudicator, should I send them copies of the paperwork which states that I get 2 years death in service benefit & also 2 years sickness leave pay from my employer, as part of my evidence that PPI was a useless product for me to have?

Hope everyone is OK, it's so hard keeping up with this thread as it moves so fast, you miss 1 day & there are over 20 extra pages, makes my head spin lol

Any evidence you can send to back your claim up the better. Good luck

marshallka

wozzer1969 wrote: »

Hi
i have recently recieved a reply from first plus with ref to me complaining to the ombudsman about being mis-sold the ppi loan.first plus have finally replied saying they did not mis sell the policy but if i want to cancel i will get £1164.93 and a gesture from them of £3562.86 which will come directly off my loan. the policy was £11000 from when i took it out in 2006. could any one tell me is this something i should accept even though it makes very little impact on my loan or should i continue with the obudsman.
please help

You took out this loan in 2006 which is good as we know that Firstplus are definately under the jurisdiction of the FOS.

They have offered you a ridiculous amount as a gesture. Besides your PPI being £11K and them offering a measly £4727.79 you would have had interest on top of the original £11K as well.

I would now write back and state that you are not happy (unless you are of course!!) and that you now ask them for their final response in the matter. I don't know how long you have given them already but you only have to give them 8 weeks from when you first complained and if this is the case now then you can also complain to the FOS as well immediately. I would let the FOS have a copy of the gesture statement as this will show them that they are guilty of something otherwise they would not offer this amount. You are looking to be put back into the position as if you never had the PPI at all so that is all the PPI, interest on the PPI and also 8% statutory interest as a court would award.

di3004

Morning all.:D

Thanks Marshallka & Dreamer for also responding to Wozzers posts, its seems like that FP does not know when to stop their thieving money tactics !!

pinknico

Got an Email from the FSCS this morning, nothing we didn't already know,


The Financial Services Compensation Scheme (FSCS) was set up to investigate claims for compensation against firms that are no longer trading and cannot honour claims themselves.

We have nearly completed our investigation into the solvency position of Picture Financial Services Plc. Once we have done this, we will be able to review your claim to see if it is eligible for compensation under our rules.

It is difficult to give an exact timescale as to when we will be in a position to write to you about your claim. Reviews are, by their very nature, time consuming, as we are dependent on receiving information from third parties, over whom we have no jurisdiction.

So still playing the waiting game.

di3004

pinknico wrote: »

Got an Email from the FSCS this morning, nothing we didn't already know,


The Financial Services Compensation Scheme (FSCS) was set up to investigate claims for compensation against firms that are no longer trading and cannot honour claims themselves.

We have nearly completed our investigation into the solvency position of Picture Financial Services Plc. Once we have done this, we will be able to review your claim to see if it is eligible for compensation under our rules.

It is difficult to give an exact timescale as to when we will be in a position to write to you about your claim. Reviews are, by their very nature, time consuming, as we are dependent on receiving information from third parties, over whom we have no jurisdiction.

So still playing the waiting game.

Hi Pinknico
Glad you have heard, I am still waiting for my response by email, think this was sent to them last Thursday and I have not heard a thing yet.... .

Everything moving forward then, and upto six months ring the bell.;)
Hopefully before.

When did you email them hun? cheers.:D

sparky0107

Marshalka or Di,
Can you take a look at the letter below I am sending to the FOS with documented evidence of works benefits I am entitled to, do you think I need to add anything or change the wording in any way? Thanks in advance again


Dear Tracy Campbell

With regards to the claim reference number above, I have enclosed excerpt from my works handbook, which states that I am eligible to 104 weeks sickness pay. I have also included a copy of my 2007 pension certificate which also states that my beneficiary would be entitled to 2 years Death in Service Benefit.

I hope this goes some way to prove that PPI would be an unnecessary insurance for me to require as I believe I am adequately covered by my works benefits.


Yours Sincerely

Sparky

Janette1884

Hi

I’m looking for some advice and I knew from looking through this site that this would be the best place to get it.

I took out a loan with Northern Rock in 2005, I applied online and I opted out of the loan protection policy. I was then contacted by an advisor at Northern Rock who informed me that they would not approve my loan unless I was to take out their loan protection policy. He didn’t tell me that this was optional or that I could look else where for an insurance cover. Due to circumstances at the time I needed the loan so I took the policy out with the insurance policy. After reading through the article on the website regarding PPI it was clear to me that I had been mis-sold my policy, so using the template from the website I wrote to Northern Rock. I received a questionnaire back from them which I filled in and sent back. After only a few days they sent a response back saying that they had reviewed my complaint and that this letter was the Banks Final Response to my complaint.

The letter stated “You made your loan application online in 2005. We rang you to confirm the loan and discussed insurance cover with you, making you aware of the cover and features of the policy. Following this you agreed to take out our loan policy.
I do not have a record of this telephone call however, I am sure the adviser would have correctly assessed your need for PPI cover. We fully train our advisers to ensure they are familiar with the products and at identifying a customers needs. Following your online application and our telephone call you would have received several documents in the post, the Policy Document, Keyfacts Summary and Credit Agreement. This gave you the opportunity to read the policy terms and conditions, to decide if the cover was suitable for you. If you were unhappy with the cover the policy provided, the Keyfacts gave you information about cancellation rights and the 30 day cool off period.
There is no evidence to suggest that we misled you or that we did not provide enough information for you to make an informed decision. For the reasons given, I cannot agree the advisor mis-sold you PPI. On that basis you are not due a refund of the insurance premiums”.

The letter also advised me that if I’m not happy with this response that I should contact the FOS. What I need some advice on is do I go straight to the FOS or should I write a second letter to Northern Rock asking them to look into the complaint again?


They have also stated that they can reschedule the loan without the PPI and that it involves arranging a new loan for the settlement figure on your current loan. Is this right?


I’m sorry this is so long I’m just not sure what to do now.


Many Thanks


Janette

di3004

sparky0107 wrote: »

Marshalka or Di,
Can you take a look at the letter below I am sending to the FOS with documented evidence of works benefits I am entitled to, do you think I need to add anything or change the wording in any way? Thanks in advance again


Dear Tracy Campbell

With regards to the claim reference number above, I have enclosed excerpt from my works handbook, which states that I am eligible to 104 weeks sickness pay. I have also included a copy of my 2007 pension certificate which also states that my beneficiary would be entitled to 2 years Death in Service Benefit.

I hope this goes some way to prove that PPI would be an unnecessary insurance for me to require as I believe I am adequately covered by my works benefits.


Yours Sincerely

Sparky

Hi Sparky

Just had a good read through your letter, that is brilliant.
Well done.

I think you have covered everything, this should be a big help to support your complaint.

Marshallka I'm sure will also check this for you and add anything if she thinks anything is missed, but going by what I have read this is great.;)

Good luck Sparky.:beer:

Di

di3004

Janette1884 wrote: »

Hi

I’m looking for some advice and I knew from looking through this site that this would be the best place to get it.

I took out a loan with Northern Rock in 2005, I applied online and I opted out of the loan protection policy. I was then contacted by an advisor at Northern Rock who informed me that they would not approve my loan unless I was to take out their loan protection policy. He didn’t tell me that this was optional or that I could look else where for an insurance cover. Due to circumstances at the time I needed the loan so I took the policy out with the insurance policy. After reading through the article on the website regarding PPI it was clear to me that I had been mis-sold my policy, so using the template from the website I wrote to Northern Rock. I received a questionnaire back from them which I filled in and sent back. After only a few days they sent a response back saying that they had reviewed my complaint and that this letter was the Banks Final Response to my complaint.

The letter stated “You made your loan application online in 2005. We rang you to confirm the loan and discussed insurance cover with you, making you aware of the cover and features of the policy. Following this you agreed to take out our loan policy.
I do not have a record of this telephone call however, I am sure the adviser would have correctly assessed your need for PPI cover. We fully train our advisers to ensure they are familiar with the products and at identifying a customers needs. Following your online application and our telephone call you would have received several documents in the post, the Policy Document, Keyfacts Summary and Credit Agreement. This gave you the opportunity to read the policy terms and conditions, to decide if the cover was suitable for you. If you were unhappy with the cover the policy provided, the Keyfacts gave you information about cancellation rights and the 30 day cool off period.
There is no evidence to suggest that we misled you or that we did not provide enough information for you to make an informed decision. For the reasons given, I cannot agree the advisor mis-sold you PPI. On that basis you are not due a refund of the insurance premiums”.

The letter also advised me that if I’m not happy with this response that I should contact the FOS. What I need some advice on is do I go straight to the FOS or should I write a second letter to Northern Rock asking them to look into the complaint again?


They have also stated that they can reschedule the loan without the PPI and that it involves arranging a new loan for the settlement figure on your current loan. Is this right?


I’m sorry this is so long I’m just not sure what to do now.


Many Thanks


Janette

Hi Janette

If this was their final decision then, its time to move on to the Financial Ombudsman service here:
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

You can print these off or contact the FOS who will send a form through the post.

It seems like Northern Rock have fobbed you off, afterall they did not give you that option which is a very common mis selling complaint.

With your complaint form send all copies of correspondence along with it.

Sorry to hear this anyway but I am sure the ombudsman will investigate this for you.

If you require any further info please just give us a yell.;)

Post your form by recorded post to know that it reached the FOS, you can check this out as you know on the royal mail website "track and trace", they will then send you a letter to let you know they have received it and keep you updated generally every few weeks to tell you at what stage they are at, although they have high volumes of complaints at the moment, you could also request for "fast track" to the fOS if your in any financial difficulties.

Good luck and please keep us posted. Cheers

Di.
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