PPI Reclaiming discussion Part III

pinknico

marshallka wrote: »

Have you asked FOS if they were within jurisdiction or not under the voluntary scheme.. .

I think FOS will look into anything that anyone complains about but its sometimes the companies that tell the FOS to go away in so many words. They get their little books out and look if there is any way they can wriggle out of things and use it to get out of paying back!

The FOS was the one who mentioned the voluntary thing when I rang to ask,also the FOS have always said if they cant look into any of mine.

I think companies can say" we are not responsible "but not "you cant investigate us"

Will have to wait and see.

maxdp

Hi Di

Wishing your son lots of love on his birthday. Hope all goes OK.

Lots of love

And signing off.

di3004

maxdp wrote: »

Hi Di

Wishing your son lots of love on his birthday. Hope all goes OK.

Lots of love

And signing off.

Thank you Maxdp.;)
I'm sure he is having a good time tonight.....:beer: :j . x

kenj_2

Hello all, I wonder if you could advise me on this.
I have just received a letter from the FOS stating that Barclays have informed them that they "have been unable to locate my records from the information provided thus far". They have asked me to provide further information to "help Barclays Bank Plc locate my details" such as a copy of the original application form, a statement which demonstrates the PPI payments being made or documents which confirm the account details to ensure they have the correct information. I have previously provided them with photocopiess of the loan agreement and the PPI amount charged and since the current account I had with Barclays was only closed last year I am amazed that a multi-national organisation such as Barclays has such poor record keeping.
What would be the best way to proceed??
Any advice would be very welcome.

di3004

kenj wrote: »

Hello all, I wonder if you could advise me on this.
I have just received a letter from the FOS stating that Barclays have informed them that they "have been unable to locate my records from the information provided thus far". They have asked me to provide further information to "help Barclays Bank Plc locate my details" such as a copy of the original application form, a statement which demonstrates the PPI payments being made or documents which confirm the account details to ensure they have the correct information. I have previously provided them with photocopiess of the loan agreement and the PPI amount charged and since the current account I had with Barclays was only closed last year I am amazed that a multi-national organisation such as Barclays has such poor record keeping.
What would be the best way to proceed??
Any advice would be very welcome.

Hi there
How long ago was it that you had taken out the loan?
If its over the last 6 years Barclays should have all the records on your accounts, but if before that the chances are very slim of them still having these.
I think the FOS will have to take what you have in what you have provided them and any information you may have provided them to help your case.

Did you request for a SAR (Subject Access Request) from Barclays in order for them to provide everything they have on you?
This way they must comply to this and forward everything they have on your account including recorded calls, emails, everything, they must send to you.
The SAR's however there is a charge of a £10 cheque or postal order payment and they have 40 days maximum to send what they have.;)

Apologies if you have already done this, but other than that hun the FOS will just have to go by with what you have supplied them.

Good luck and I am sure others will help here also if you requre further help/info.

If you have not done the SAR and your interested in doing this - and require a template, let us know where one of us will post this on this forum for you.

Fingers crossed and please let us know how you get on, cheers.

Di

scarletto_2

marshallka wrote: »

You policy would tell you if your hubby was actually allowed to claim or not as some pay out under self employment and some don't. Its usually if you are paying class 2 NI then you can make a claim.

As you had other reasons too ie you were not given a choice as they just gave you the loan details without asking then that is a claim and also did you actually know that the policy incurred interest on this.

I would write to NR and do a letter from the link I gave to you earlier add as many reasons as you can from the letter. Try and make it your own and let us know how you get on. If you are just saying your only reason from making a complaint about the sale is the self employment then I doubt you will get a missold on that alone as the policy may actually cover you.

Good luck and shout if you need any more help .

Great, thanks again! I'm in the process of putting together my letter now and still don't understand the wording of the policy - under self employed i think basically my husband has to cease trading to get any form of unemployment benefit (he's not planning on any unemployment but just thought it might be something else to add to my letter that I was unaware of). I just also wanted to ask you if you think my policy was a single premium policy - how would i find this out? My policy documents states 'This policy records that in return for you paying the premium we weill provide Life, Disability, hospitalisation and unemployment insurance cover described below.... the definition of "Premuim" = means the single premium payable by you for insurance cover under this policy. My agreement breaks down my payments as :
Loanprotect Loan = 514.20
Cash Loan = 5500.00
Total Loans = 6014.20
Loanprotect Loan Payable = 574.92
Cash Loan Payable = 6149.16
Total Loans Payable = 6724.08
My APR is fixed at 7.6%
I'm confused how they get to the total payable of 6724.08, i know i pay 186.78 per month which as mentioned before was sold to me as a 'fully protected loan' total. When I add 7.6% onto 6014.20 i get 6471.28?????? HELLP.. i just can't get my head around this!

marshallka

scarletto wrote: »

Great, thanks again! I'm in the process of putting together my letter now and still don't understand the wording of the policy - under self employed i think basically my husband has to cease trading to get any form of unemployment benefit (he's not planning on any unemployment but just thought it might be something else to add to my letter that I was unaware of). I just also wanted to ask you if you think my policy was a single premium policy - how would i find this out? My policy documents states 'This policy records that in return for you paying the premium we weill provide Life, Disability, hospitalisation and unemployment insurance cover described below.... the definition of "Premuim" = means the single premium payable by you for insurance cover under this policy. My agreement breaks down my payments as :
Loanprotect Loan = 514.20
Cash Loan = 5500.00
Total Loans = 6014.20
Loanprotect Loan Payable = 574.92
Cash Loan Payable = 6149.16
Total Loans Payable = 6724.08
My APR is fixed at 7.6%
I'm confused how they get to the total payable of 6724.08, i know i pay 186.78 per month which as mentioned before was sold to me as a 'fully protected loan' total. When I add 7.6% onto 6014.20 i get 6471.28?????? HELLP.. i just can't get my head around this!

This is a single premium in that you had interest charged on this. The loan probably is fully protected if you wanted a fully protected loan but as you were not asked or given a choice then you can make a complaint.

As regard the self employment that you mention it would be in the terms and conditions. Usually, you have to start claiming benefits for it to be payable and then have to prove this too. You are also sometimes covered for self employment if you pay class 2 national insurance contributions.

You do have other reasons for this so best not to fight your case with this alone.

The loan was payable over 36 months I take it. You borrowed £5500 and then had interest on that amount totalling £649.16 and then a single premium loan insurance of £514.20 and interest on top of that being £60.72.

The repayments against the PPI were £15.97 each month and that was payable in the amount of £186.78.

Good luck.

scarletto_2

marshallka wrote: »

This is a single premium in that you had interest charged on this. The loan probably is fully protected if you wanted a fully protected loan but as you were not asked or given a choice then you can make a complaint.

As regard the self employment that you mention it would be in the terms and conditions. Usually, you have to start claiming benefits for it to be payable and then have to prove this too. You are also sometimes covered for self employment if you pay class 2 national insurance contributions.

You do have other reasons for this so best not to fight your case with this alone.

The loan was payable over 36 months I take it. You borrowed £5500 and then had interest on that amount totalling £649.16 and then a single premium loan insurance of £514.20 and interest on top of that being £60.72.

The repayments against the PPI were £15.97 each month and that was payable in the amount of £186.78.

Good luck.

Hi I feel really stupid but i thought if your APR was 7.6% you just added 7.6% on top of 5500.00 - how does it work? Sorry i really am thick!! Also is the Single Premium Policies the ones that were just banned - if so is this an added strength to my claim? Thanks

di3004

scarletto wrote: »

Hi I feel really stupid but i thought if your APR was 7.6% you just added 7.6% on top of 5500.00 - how does it work? Sorry i really am thick!! Also is the Single Premium Policies the ones that were just banned - if so is this an added strength to my claim? Thanks

Hi Scarletto.;)

Your not thick hunni and there is certainly no need to feel stupid.....;)

I have not got a clue myself with calculations - even with a calculator I mess up.......:eek: , lol, but Marshallka here, she is always happy to help out where and when she can, and is superb with figures etc, well I think so anyway.:T

Good luck hun.:D

Di

dave73

im away to post my first letter should i send it recorded delivery or does it not matter