PPI Reclaiming discussion Part III

dreamer33

Good morning all lol I keep forgetting to say this.

Bird flu today well and truly and going xmas shopping. :eek: Can't wait for the postman lol

dreamer33

I was just thinking, there are a lot of FP complaints on here, I wonder how many of them have FF hanging out of their back pockets. I was going to say something else however had to control myself lol :A

dreamer33

marshallka wrote: »

Hi, saleralor, just found your previous post here

thanks for the advice, just to clarify even though i got the loan through a broker loanline i can still persue FP for the unfair rebate, i have attached a copy of the letter i am about to send and was wondering if you wouldnt mind having a quick glance over it and let me know what you think


I originally wrote to yourselves in July of this year and have still not had a reply back,


I am writing to make a formal complaint with regards to the rebate of PPI we received when paying off our secured loan in January of this year.


We only received a rebate of over £1900 which I find ridiculous considering we only had the loan for 15-16 months and the PPI was for over £9000 plus interest on top.


If I do not hear from yourselves within 8 weeks of this letter I will have no option but to take this matter further to the Finanancial Ombudsman Service.


This is the letter you sent to FIrstplus about the rebate that your received against the PPI...

I myself have the same problem and have been told after forwarding my complaint to the Ombudsman that I need to make the complaint against the insurers of the policy and not the lender or the broker. Firstplus are telling me its the broker to complain to. This is such a confusing issue here...

I was told by Tiggrae and lots on here that unfair rebates are against the Lender and not the broker.

This is now what i received from the Ombudsman service after waiting for my complaint to go to an adjudicator

Thank you for your email regarding your above mentioned complaint. Your complaint has been passed to me to determine whether or not it is one which we can consider. From the papers in the file I understand that you would like us to investigate a complaint about the unfair rebate paid on your PPI policy.

Whilst I appreciate that your policy was sold by Firstplus in January 2000, and issues relating to rebate payments should be directed to the insurance company who underwrote the policy. I therefore suggest that you initially contact the insurance company as they provided the rebate, in order to raise your concerns with it. Details of the insurance company should be stated in your policy booklet.

The complaint handling procedures which are laid down by the Financial Services Authority, state that a business must be provided eight weeks from date the complaint is received, so that it has the opportunity to ‘put things right’, and investigate the complaint. The insurance company should therefore have eight weeks from date of receipt of your letter to look into the complaint and issue its final response letter on the matter. Consequently, if after receipt of its final response letter, you remain dissatisfied with the outcome of its investigations, you should contact us within six months from the date of its letter to refer your complaint to us.

On the basis that Firstplus are not responsible for the unfair rebate issues relating to your PPI policy, it would be inappropriate for me to investigate a complaint against it, and for that reason I will move to close the complaint unless I hear from you with any further comments that you feel would make a significant difference to the outcome by 6 November 2008.



I can only tell you what I have been told myself here

For the reason of the last paragraph I have wrote to FP with the following letter:

With regards to the settlement figure given in 2006, I write to ask how Firstplus came to their calculation and where the information for the calculation was taken.
Was the calculation carried out according to Firstplus rules or rules of someone else. (eg another company). Please send details.

Piquant_2

Good morning

I have looked out my loan details and discovered that I am paying 52.56 Insurance Loan Repayment on top of the 295.09 monthly payment. Please could someone confirm that this is PPI, fairly sure it is, just want to be certain before I write to the Loaner.

I am planning on sending two letters, one to stop the Insurance Loan Repayment going forward and one to claim back the previous payments. Is this the correct way of doing it?

Many thanks

di3004

Piquant wrote: »

Good morning

I have looked out my loan details and discovered that I am paying 52.56 Insurance Loan Repayment on top of the 295.09 monthly payment. Please could someone confirm that this is PPI, fairly sure it is, just want to be certain before I write to the Loaner.

I am planning on sending two letters, one to stop the Insurance Loan Repayment going forward and one to claim back the previous payments. Is this the correct way of doing it?

Many thanks

Hi there.

Do you by any chance still have the agreement for this?;)

If this is ppi and you did not realise you had this for example they added this without your knowlege you can try to reclaim this back.

It will be the actual broker who arranged the loan (who sold you the loan) you would have to write to.

di3004

dreamer33 wrote: »

I was just thinking, there are a lot of FP complaints on here, I wonder how many of them have FF hanging out of their back pockets. I was going to say something else however had to control myself lol :A

I have never known so many complaints with the same firm......:eek: , I think something is defo coming of these myself.....:rolleyes: .
All penalty sites where I am, are mainly complaints of these......:eek:

marshallka

Piquant wrote: »

Good morning

I have looked out my loan details and discovered that I am paying 52.56 Insurance Loan Repayment on top of the 295.09 monthly payment. Please could someone confirm that this is PPI, fairly sure it is, just want to be certain before I write to the Loaner.

I am planning on sending two letters, one to stop the Insurance Loan Repayment going forward and one to claim back the previous payments. Is this the correct way of doing it?

Many thanks

If it was missold then you send the one letter to the company that sold the insurance to you. (if this is different to the lender).

You can cancel the insurance but if this was a single premium insurance then this is actually another loan on top of your loan and to cancel could mean to redo the loan altogether. They then give you a rebate against the original loan that paid the PPI and this can often not make much of a difference at all to the repayments.

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

dreamer33

I find it very annoying that you get a loan with PPI then when you have a complaint these companies pass you to every tom !!!!!! and harry, totally passing responsibility on to others. To me they also have a duty of care and responsibility.

I wonder if they actually understand how distressing this is to consumers.:eek:

I still don't know what the payment was for the PPI it was never disclosed.:mad:

di3004

marshallka wrote: »

If it was missold then you send the one letter to the company that sold the insurance to you. (if this is different to the lender).

You can cancel the insurance but if this was a single premium insurance then this is actually another loan on top of your loan and to cancel could mean to redo the loan altogether. They then give you a rebate against the original loan that paid the PPI and this can often not make much of a difference at all to the repayments.

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 Marshallka.;) Glad you filled in the gaps here of what I did not mention, I am wrapped in a towel lol......:o , hope your okay today hun.;)

di3004

dreamer33 wrote: »

I find it very annoying that you get a loan with PPI then when you have a complaint these companies pass you to every tom !!!!!! and harry, totally passing responsibility on to others. To me they also have a duty of care and responsibility.

I wonder if they actually understand how distressing this is to consumers.:eek:

I still don't know what the payment was for the PPI it was never disclosed.:mad:

And I must agree with you.:rolleyes:

At the end of the day they are linked, and the lenders who have had brokers to do their work are in my eyes still responsible, these are the ones who will pay them commission for doing this surely and extra again if ppi sold, that is where they gain their dough......:mad:

(and their excuse is always the same, you used a broker at your own free choice), even though its all the lenders paperwork supplied......:rolleyes:

Wonder if and when they take loans themselves elsewhere if they would also take the same loan firm's PPI????? I know if it were for the firm they work for they would not pay what we pay !!!