PPI Reclaiming discussion Part III

marshallka

masmit wrote: »

hi di,
just phoned FSA & spoke to insurance team, they advised i phone fos ask for them too look at my complaint again. they are taking my existing loan complaint on which is great news.[ dont understand being turned away first time] all previous loans prior to jan 05 not regulated by FOS, any help on how i proceed, FOS will not take these on. blackhorse unfortunatly the company involved. thanks for your help

All sales of Insurance were regulated by the FSA and complaints for the sales of Insurance since 14th January, 2005 can be taken to the FOS...

They must have made a mistake here... tell them that your loan date was after Jan 2005 ....

marshallka

robbiewilliams wrote: »

Hi yes sent an SAR but didn't hear so chased by phone. Agreement in post apparently! Loan was 6000, she then said PPI 1528.29 and total cost for PPI 2634. Total payable 9283. Am completely lost! What happens with it being before 2005 then can that cause a problem?

The actual cost of the PPi including the interest was £2364 then. Just make the complaint as usual and then wait for their reply... From what i can gather on here Black Horse were not regulated until 14th Jan 2005 so this complaint cannot be taken to the FOS but some are taking them to the FLA... There are always the courts too but you may get lucky in that the SAR may bring some evidence up of this misselling.

When you get a reply let us know...

marshallka

Fossildog wrote: »

Hi, I am in the middle of claming back PPI. I paid £7200 PPI and paid the loan off after 2 years (was a 25 Year loan). Would I expect to get back £7200 + 8% interest plus whatever interest was charged on the PPI (10.9% on the loan I think)?

You would get back whatever the PPI cost and interest and also the 8% statutory interest...

marshallka

masmit wrote: »

hi di,
just phoned FSA & spoke to insurance team, they advised i phone fos ask for them too look at my complaint again. they are taking my existing loan complaint on which is great news.[ dont understand being turned away first time] all previous loans prior to jan 05 not regulated by FOS, any help on how i proceed, FOS will not take these on. blackhorse unfortunatly the company involved. thanks for your help

Why would FOS not take on Black Horse when your loan was taken after Jan 2005... I really do not understand this one... Have you been in touch with FOS again.. Are they now taking on the complaint about Black Horse or GE

masmit

after phoning the FLA today & questioning there procedure, in my belief there a total sham. all they do is forward letters we send to them to the company involved, recorded delivery covers this. they have know mediation between complaints, & will not get involved to help any customer complain.
they have a code of practice that all members are supposed to adhere to, but if the authority doe's not punish they run themselves.
can you help me with this question.
if court proceedure looks the only option for loans that were not regulated before 05. would not be easier to take all mis-sold ppi to court together. instead of the FOS dealing with one separately, only if all complaints are with same company though. after some direction.

marshallka

masmit wrote: »

after phoning the FLA today & questioning there procedure, in my belief there a total sham. all they do is forward letters we send to them to the company involved, recorded delivery covers this. they have know mediation between complaints, & will not get involved to help any customer complain.
they have a code of practice that all members are supposed to adhere to, but if the authority doe's not punish they run themselves.
can you help me with this question.
if court proceedure looks the only option for loans that were not regulated before 05. would not be easier to take all mis-sold ppi to court together. instead of the FOS dealing with one separately, only if all complaints are with same company though. after some direction.

If all your loans are with one company and only one or two can be dealt with through the FOS then yes, I would get some help with the court route...

masmit

marshallka wrote: »

Why would FOS not take on Black Horse when your loan was taken after Jan 2005... I really do not understand this one... Have you been in touch with FOS again.. Are they now taking on the complaint about Black Horse or GE

sorry marsha for not responding
the FOS have taken part of my complaint which is the existing loan. feel a bit lost on proceedure on ppi sold on unregulated loans.

masmit

marshallka wrote: »

If all your loans are with one company and only one or two can be dealt with through the FOS then yes, I would get some help with the court route...

thanks for advice will look at court action.

masmit

thank you all for help & advice today
feel court is the way to go now, i have to wait a couple of weeks for there final response. will let you know on any developments when they happen.
thanks again

marshallka

masmit wrote: »

thank you all for help & advice today
feel court is the way to go now, i have to wait a couple of weeks for there final response. will let you know on any developments when they happen.
thanks again

You're very welcome and let us know how you get on:D