PPI Reclaiming discussion Part III

digitalphase

marshallka wrote: »

Hi, you have to send the letter to whoever actually sold you the loan and insurance.

Just take a look at the link here and see what you can add and delete from the letter that you send. There is also a template letter on there too but sometimes it can be better to make your own up from this.

You then write to the firm that actually made the sale of the PPI to you if this is different from the lender and don't forget to send this recorded delivery so you always a proof and dates etc.

After that you have to give them 8 weeks for a full and final response. In this time it is usual to get a response of "sorry we sold this to you fairly" but you then respond to this and reiterate your complaint again. The next time they write they either give you a final response which you would need in order to take this complaint to the FOS or offer to settle.

http://www.moneysavingexpert.com/rec...urance#reclaim


Good luck

Thanks so much

I am going to send them this letter, which is a slightly modified version of the template. I got the loan in branch so I will send the letter to the branch then.

Could you check whether this is OK please?:

Dear Sir or Madam,

Account number: ***********

I purchased the above policy from you on 23/09/2002 but now believe that I was mis-sold this policy for the following reasons:

• This is due to the fact that I was only working irregular shifts at a part time job when I took out the policy and your member of staff did not ask me about my employment status when the policy was sold.
• Your salesperson implied that taking out the policy would assist my credit application.
• Your salesperson implied that taking out the policy was essential for me to get the associated credit.
• Your salesperson did not give me full information on what the policy would and would not cover, as they did not inform me I was not covered for unemployment as I was only working part time.
• I was informed it was not possible to cancel my policy.

Unless you can satisfactorily justify to me that the policy was fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.

I look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.

Yours faithfully,

di3004

digitalphase wrote: »

Thanks so much

I am going to send them this letter, which is a slightly modified version of the template. I got the loan in branch so I will send the letter to the branch then.

Could you check whether this is OK please?:

Dear Sir or Madam,

Account number: ***********

I purchased the above policy from you on 23/09/2002 but now believe that I was mis-sold this policy for the following reasons:

• This is due to the fact that I was only working irregular shifts at a part time job when I took out the policy and your member of staff did not ask me about my employment status when the policy was sold.
• Your salesperson implied that taking out the policy would assist my credit application.
• Your salesperson implied that taking out the policy was essential for me to get the associated credit.
• Your salesperson did not give me full information on what the policy would and would not cover, as they did not inform me I was not covered for unemployment as I was only working part time.
• I was informed it was not possible to cancel my policy.

Unless you can satisfactorily justify to me that the policy was fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.

I look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.

Yours faithfully,

Hi there
I have just had a read of your letter - well done......:beer: , good luck and I am sure Marshallka will agree and have her say later on.

And you know to post by recorded delivery ?;)

All the best and please let us know when you hear, cheers.:D

Di
x

marshallka

digitalphase wrote: »

Thanks so much

I am going to send them this letter, which is a slightly modified version of the template. I got the loan in branch so I will send the letter to the branch then.

Could you check whether this is OK please?:

Dear Sir or Madam,

Account number: ***********

I purchased the above policy from you on 23/09/2002 but now believe that I was mis-sold this policy for the following reasons:

• This is due to the fact that I was only working irregular shifts at a part time job when I took out the policy and your member of staff did not ask me about my employment status when the policy was sold.
• Your salesperson implied that taking out the policy would assist my credit application.
• Your salesperson implied that taking out the policy was essential for me to get the associated credit.
• Your salesperson did not give me full information on what the policy would and would not cover, as they did not inform me I was not covered for unemployment as I was only working part time.
• I was informed it was not possible to cancel my policy.

Unless you can satisfactorily justify to me that the policy was fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.

I look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.

Yours faithfully,

Looks great, hope you win;) .

digitalphase

Thank - yes I will certainly post it recorded delivery.

Has anyone else successfully got their money back from Barclayloan?

marshallka

digitalphase wrote: »

Thank - yes I will certainly post it recorded delivery.

Has anyone else successfully got their money back from Barclayloan?

Lots of people but sometimes can take time with having to go through the FOS though. Worth it in the end..:D .

dreamer33

Compiled my sar request for egg. Want to see if ppi was added to my egg loan and credit card

Also sar request for MBNA thought might as well sort these out while waiting for my enemies :rotfl:

sabelu

Have A&L or there Moneyloan arm been found guilty of PPI misselling?

di3004

sabelu wrote: »

Have A&L or there Moneyloan arm been found guilty of PPI misselling?

Hi there I know that A&L have been fined for mis selling PPI, mainly phone sales after Jan 2005, although no matter how it was sold the chances are mis selling may still have taken place.
Check this out here:
http://news.bbc.co.uk/2/hi/business/7657446.stm

jacseb

hi completly new to this, I had a loan with endeavour in 2004 cant remember much about it apart from being told I had to take out ppi or wouldnt get the loan, it was paid off early with massive penalties. Am i right in thinking if i send a SAR with a direct debit ref I will receive all the info about it.

di3004

jacseb wrote: »

hi completly new to this, I had a loan with endeavour in 2004 cant remember much about it apart from being told I had to take out ppi or wouldnt get the loan, it was paid off early with massive penalties. Am i right in thinking if i send a SAR with a direct debit ref I will receive all the info about it.

Hi there
SNAP I had one with Endeavour too in July 2004.
Paid up in 2005, it was originally for 25 years.

Endeavour were the lender but it was arranged by a broker, did you have the loan arranged directly by Endeavour or a broker hun?

It is the actual broker who you try to complain and reclaim from if you feel you have a case.

Also welcome to this forum.;)

Check out this link here
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Check the info which you will find quite useful, and you will also come across a template reclaim letter, write your own reasons, they have 8 weeks to respond, post by recorded delivery in order to keep a check on the deadlines etc.

Let us know the outcome in case another letter maybe required, or it may be the financial ombudsman after that.

If you still have the agreement that should be okay, but if you've no calculations of the breakdown of how the settlement was worked out, you could contact Endeavour by requesting for this anyway.

An SAR is mainly required if you have nothing at all, yet in 2004 they did not record telephone calls etc, as we did not receive anything back within out SAR regarding recorded calls etc.

If you require a SAR template, post up and let us know hun and one of us will post this up for you.

Good luck
Di