PPI Reclaiming discussion Part III

KELLYJSKY

I have just rung Pinnacle Insuracne and the lady told me I only have insurance with my mortgage with them she siad I can canel it whenever I want and is sending me out the terms and conditions, she was very helpful and said that I would need to contact Northern Rock if I beleive I was mis sold it as they are the original people I dealt with

marshallka

marshyyouth wrote: »

This is the main body of a letter i sent to the TSB on the 14th Nov 09,

I purchased the above policy from you in 17/03/05 but now believe that I was mis-sold this policy for the following reasons:

This is due to the fact that I was not given the correct information when the policy was sold to me, as

• Your salesperson implied that taking out the policy would assist my credit application.

• your salesperson did not give me full information on what the policy would and would not cover, for example that the Accident or sickness cover would be invalid as a direct result of War and civil commotion:

War, invasion, hostilities ( whether war declared or not ). This troubles me because I had earlier been asked what my job was and who my employers were, to which I Answered Soldier and British Army. Clearly in this employment, I get involved in the for-mentioned activities and have done so whilst holding this policy, which would have been invalid should have anything happened to me.

• i am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

They sent me a letter back to day 19 Nov 09, replying to all apart from the bold under lined bit . Informing me that they are rejecting my complaint :mad:

Does anybody think i have a case and should go on

Also with being in the army don't you get paid regardless so this would be useless to you anyway... I would certainly carry on the complaint here...:mad:

As this was taken out after 14th January, 2005 you would definately be able to take this complaint to the FOS should they not uphold it this time..

Good luck

marshallka

KELLYJSKY wrote: »

Yes certainly do a letter for misselling if you were not told you could buy it elsewhere...Have you got copies of the agreements still and are the loans still active. Also when did you take these out?? If so much is secured and so much unsecured are they on seperate agreements...

You can request copies of the agreements under section 77/78 of the CCA and they have to send them to you within 12 days. If you have not got these I suggest you send a letter to request them and then you can see if you have two loans and PPI on each one. Don't forget to send this and all correspondence by recorded delivery as then you have a proof and dates etc.

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


what is CCI?

I am currently paying the mortgage and the two loans - one secured and one unsecured every month over the full 25 year term - mortgage is with Northern Rock and PPI is with Pinnacle Insurance

I think you are referring to my CCA and CCI here and it is Consumer Credit Act.
ALso note that you make the complaint here to whoever sold you the insurance in the first place if this was different to Northern Rock or Pinnacle...

marshallka

KELLYJSKY wrote: »

I have just rung Pinnacle Insuracne and the lady told me I only have insurance with my mortgage with them she siad I can canel it whenever I want and is sending me out the terms and conditions, she was very helpful and said that I would need to contact Northern Rock if I beleive I was mis sold it as they are the original people I dealt with

That is what I have said above..you make the complaint about the misselling to whoever sold you the insurance. You can cancel it but most probably would have to take a new agreement as these were single premiums attached to the old agreements and also I doubt you would see your payments reduce by so much as there would have been interest on the PPI also. Its up to you but certainly get a complaint in now..

marshallka

maxdp wrote: »

Changing goal posts it seems. What seemed a good idea at the start is probably not so good now. Have a think about it Karen it may not be ideal. Am sure you will make the right decision.

Yeah, will do... I though a nice little job as advertised and now it seems there is lots more involved ...I will have to think here..

thanks for the input maxdp, much appreciated...:D

KELLYJSKY

I have just rung Barclaycard as I have seen I also have PPI with them and have had this for 6 years the man shoted at me down the phone! Customer Services representatvie asked why I wanted to cancel my insurance and I said I beleive I was mis sold it years ago I have been having a finanical overhaul and also believe I was a bit young and nieve at the time of taking out the card and didnt realise it was an option and that I am already covered with my mortgage - he laughed and shouted "Dont be so silly you took this out 6 years ago you will NOT get anything back from this" I calmly said I dont think thats for you to say I will write to you please can you give me the address to write to. Again he said you WONT get a refudn so there is no point, I asked again for the address and he laughed and gave it to me I then asked to speak to his supervisor and she too said "You wont get a refund you have been paying PPI every month for 6 years you wont get anything!
I am livid! Are they right?

Natalie6999

I have had a phone call from Tesco today, my letter has been passed to the PPI team & I should get a decision in 2 - 3 working days.

Let's hope it's a positive one.

Still waiting to hear from M & S

Sprightlyone

marshallka wrote: »

I think it may be worth trying to cancel the insurance, As regards who to go to with regards to the claim you need to go to the firm that actually sold you the insurance here if different from the original lender. I do know that having claimed on the insurance you would not be able to make a claim for misselling even if it has cost you a lot of money but you may be able to cancel and claim for an unfair rebate against it..You could try with regards to misselling but as I say I think they will argue it til blue in the face..

how long is left on the loan??

Well it was taken out in early 2001 for 5 yrs, but I defaulted when my business went bust and it's been sitting there without payments ever since, I made about 2yrs payments on it, but it still stands at around £18k including the insurance bit. Now it's been sold to the DCA I am quite rightly having to address this again. The claim was in 2003.

KELLYJSKY

when I rang Northern Rock they told me to ring Pinnacle (When that number for Pinnacle answers they say Northern Rock>>???) When I spoke to Pinnacle they say its with Northern Rock!

marshyyouth

Thanks marshallka , ive added that to my second letter which is coming out the printer as i type.

Forgot to ask i sent a similar letter off to TSB credit card, because i was paying £130 a month ppi, didnt even relise stupid me!!!! as anybody had any luck with them?