PPI Reclaiming discussion Part III

marshallka

KELLYJSKY wrote: »

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?

No they are not right and also i would say you making a complaint about treating customers fairly. I know of people on here that have made claims and won going further than 6 years back with banks. DO you have the original agreement from when the PPI was applied??

If not it may be in your interest to request it from them...

KELLYJSKY

No I dont have the original - this is the letter I have just drafted...

Dear Sir or Madam,


I am writing to you regarding what I consider to be the mis-selling of Payment Protection Insurance (PPI) on my credit card account. I would like to cancel this insurance policy forthwith as it is not fit for purpose and has never been suitable for my personal circumstances.

The account was opened in 2003 and I elected to take out PPI. However, it was not explained to me at any time that similar or better insurance cover for this loan could be bought elsewhere at a much more competitive rate. My personal circumstances were not questioned at any time while opting to take out the PPI.

Financial institutions such as yourselves are under an obligation to ensure that the policy they are selling is appropriate to that customer and clearly you have not fulfilled this requirement. The FOS takes the matter of mis-selling of PPI extremely seriously, as do I, and in many cases have imposed large fines on financial institutions who are in breach of regulations.

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.

Alibear

Hi everyone. My mum called me this morning to let me know (I don't live at home anymore) that quite a bulky A4 letter has been posted to me, looking like it's from my bank. I called HSBC to ask if they'd sent anything in response to my complaint I logged five weeks ago and apparently they have. Does this sound like good news? If they were fobbing me off it'd just be a standard, one-page letter, wouldn't it? My mum's gonna open it and call me when she gets home but I'm too excited!

Ali. x

marshallka

Natalie6999 wrote: »

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

Good luck with this then:D .

marshallka

Sprightlyone wrote: »

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.

So really this would be done and dusted now so maybe a claim for the unfair rebate is useless to you then.

I don't think you have anything to lose here by trying the misselling but it will mean a hard fight as you have claimed. Still worth a try and extra good luck..;)

marshallka

marshyyouth wrote: »

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?

I think there are a few with TSB and maybe one of our regulars Di...

Get the letter sent recorded delivery as you always have a proof of sending it then.

GOod luck

masmit

mackie96 wrote: »

Hallo all.

Back for some more advice.

Posted a couple of weeks ago regarding ppi that My husband and I are trying to reclaim from Blackhorse.

They responded to our first letter saying they are unable to uphold our claim, that we signed a statement of needs thing..blah blah blah.

Responded stating that we were told we had to sign this, and that the fact the loan has been repaid is irrelevant.

We've just recieved their response today, and they have sent exactly the same letter as their first one. Where do we go from here? Straight to ombudsman?

They also say in the letter that these documents were sent to our home to sign. They weren't. We went into the office of the company and signed everything there. Their letter says 'In the absense of any documentary evidence in support of your claim....'

Feeling a bit lost here. Should I phone them and tell them they are mistaken, they did not send anything to our address, or just send them another letter saying this?

Very grateful for any advice.

hi, macki
i have same problem with blackhorse ive had no response after first letter, same as yours. martin says its down to them to proove it was sold fairly,so dont be put off. the fos told me to contact the fla to deal with the complaint which i have done online. good look

marshallka

KELLYJSKY wrote: »

No I dont have the original - this is the letter I have just drafted...

Dear Sir or Madam,


I am writing to you regarding what I consider to be the mis-selling of Payment Protection Insurance (PPI) on my credit card account. I would like to cancel this insurance policy forthwith as it is not fit for purpose and has never been suitable for my personal circumstances.

The account was opened in 2003 and I elected to take out PPI. However, it was not explained to me at any time that similar or better insurance cover for this loan could be bought elsewhere at a much more competitive rate. My personal circumstances were not questioned at any time while opting to take out the PPI.

Financial institutions such as yourselves are under an obligation to ensure that the policy they are selling is appropriate to that customer and clearly you have not fulfilled this requirement. The FOS takes the matter of mis-selling of PPI extremely seriously, as do I, and in many cases have imposed large fines on financial institutions who are in breach of regulations.

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.

Letter sounds good, is this to Northern ROck??

You need to get one drafted for Barclaycard too. As you have only just become aware of the misselling then you can make a complaint here regardless of the 6 year rule.

marshallka

Alibear wrote: »

Hi everyone. My mum called me this morning to let me know (I don't live at home anymore) that quite a bulky A4 letter has been posted to me, looking like it's from my bank. I called HSBC to ask if they'd sent anything in response to my complaint I logged five weeks ago and apparently they have. Does this sound like good news? If they were fobbing me off it'd just be a standard, one-page letter, wouldn't it? My mum's gonna open it and call me when she gets home but I'm too excited!

Ali. x

I just hope its a letter full of cash maybe lol...

Let us know and good luck with it...

marshallka

Di, I see you are back... going off for a while now but brb...;)

Still no news from FOS about co-op