PPI Reclaiming discussion Part III

marshallka

robbiewilliams wrote: »

Hi all. I sent off an SAR request to Welcome a while ago and all I received back was a list of telephone conversations. I challenged this and requested copy agreements, which they have promised to send. The loan was repaid in May 2001. They have responded today with saying that they only keep copies for 6 years. I am aware that this is the legal requirement. But am wondering if this is Welcome trying to fob me off. Is there anything else I can try?

They do not have to keep records for longer than 6 years after the account was closed with them so they are within their right I am afraid. Have you searched your whole house for them as I have known people go up their lofts and find information before... maybe worth a shot???

marshallka

sacbaby37 wrote: »

Hi i am new to this so was wondering if anybody can help me, i want to claim mycredit card charges and PPI charges back from Barclays, do i claim them both together, if so on which template do i use, or do i have to claim them separate? And do i add interest on them both? Up late wondering what and how to do it. Sez

I would think their are seperate address's for each of these although if it were a SAR you were requesting then it would be OK to get it from just BARCLAYS I think. What are your reasons for the misselling..??

marshallka

ianianian wrote: »

Morning all, quick question, sure it’s been asked somewhere, but I can’t find it in the 200 pages of this thread!

My girlfriend recently rang up her loan provider (egg) after reading about reclaiming PPI on this website (she is 100% sure she stated she did not wish for PPI when starting the loan). After simply mentioning PPI on the call she was quickly offered hundreds back. This was without even threatening any action which made her think that the bank could be trying to get away on the cheap.

The loan she has is one in which they add everything up at the start (interest etc) and then you just keep chipping away at this. As a result I’m assuming the insurance has been added on for the life of the loan, as has the associated interest.

Will she get all of this back?
What exactly should she be asking for when she writes to them? My technical terminology is not too good and the templates I’ve seen on this website don’t mention this type of loan.

Thanks

Ian

This sounds like a single premium payment in which it was a loan to pay for the PPI and this then had interest on it.

You need to request the PPI and interest and also 8% statutory interest too.
Just take a look at the link here and see what you can add and delete from the template letter. Its always best to do your own from this. There are lots of reason on there for the misselling so pick out the ones that are applicable to yours.

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

marshallka

di3004 wrote: »

Xbox 360 collection from home between 10 - 1pm tomorrow.....:D

Now just hoping this will be returned in time for my boys as we have them a few games for xmas.......fingers crossed.;)

Blimey I have not known one person who has not had the Ring of death problem, such a common fault, if it happens the 3rd time then I will be mad.......:mad: , but 3rd time lucky folks.....:rolleyes: .

I doubt they will get it back for christmas now Di, its usually about 3 weeks turnaround. I would keep on ringing and ringing them.

marshallka

MattClem wrote: »

The wording is:

"Paying a single premium for your policy does not constitue a mis-sale if insurance; it is ismply an alternative method of paying the preium. However having reviewed the sale I am not satisifed with the recommendation made by our customer Account Manager. During the call,you informed us that you looking to settle the loan within 2 years. Taking this into consideration the policy was not suitable due to the non proportionate rebate provided.

This is well below the acceptable standards expected and it has been raised with the individual concerned. Due to the seriousness of this incident, the individual may face disciplinary procedure and as such I am sure you appreciate I can comment no futher. As a company that prides itself on world class service, I am at a loss to explain this unusual lapse in service standards and can only put it down to human error.

In light of my findings, we would like offer a full rebate of your premium (£10,815) less the rebate you received when your loan was settled earlier this year (NB..there was no rebate) As the broker, we are unaware of the rebate provided by the lender; please could you provide this information at your earliest opportunity to enable me to calculate our offer.

Please accept this letter as our final response regarding your complaint. If you are not fully satisfied with our final response, you are entitled to refer your complaint to FOS....."


Is it worth pursuing? Or should I take the money and run?

To anyone who is reading: write the letters they cost nothing...follow some sage advice here and get back the money that's rightfully yours!

They are probably saying that in the interest rebate of the loan they rebated some of the interest on the PPI too. You really need to state to them that as they have admitted misselling then you need to be put back into the position as if you never had the PPI at all. I would write to them and send this recorded delivery and say you accept on that basis maybe and you could also ask for 8% statutory interest as well just like a court would award.

Have you actually got a breakdown of the settlement figure at all??

marshallka

kaz2196 wrote: »

hi
posted yesterday re reclaiming timeframe.credit card started 2001 ppi was paid until 2 weeks ago and mbna have replyed to claim stating because of the age of the account the fos will not investigate so i should stop claiming.i have tryed cancelling the ppi twice aand they wouldnt allow it.id be grateful for any info as i dont know wheter to cvontinue the claim.

Have you asked the FOS if they will investigate this for you? I don't think its right for them to tell you this anyway. If it were a bank then they can use the date that you became aware of the misselling and also apply the Banking Ombudsman Scheme rules or if they were members of the GISC also. I would check first with the FOS.

Also you ARE allowed to cancel the PPI and this should be addressed by them. You need to write sending this recorded delivery and also state that you are making a complaint to the FSA too about them not letting you do this. They should TREAT CUSTOMERS FAIRLY and they are in breach of this.

di3004

marshallka wrote: »

I doubt they will get it back for christmas now Di, its usually about 3 weeks turnaround. I would keep on ringing and ringing them.

Hi hun
Even though this was done online, we decided to call them as well, they said they are not so over run with these like they were before and aim to get them returned to us within 10 days........will wait and see though.....:rolleyes: .
The last time I think we received back within 15 days.

Also the last time we kept a check on it online as you can track it down, fingers crossed x

marshallka

kaz2196 wrote: »

hi
yes its a cc at alliance and leicester was taken over by mbna they replyed stating its too old to complain and i had asked for the ppi even though ive tried to cancel it twice in the past and they wouldnt allow it.

You need to send this recorded delivery and tell them if they do not cancel you will make a complaint to the FSA as they are in breach of the code of treating their customers fairly..

They HAVE to cancel it at your request.

marshallka

di3004 wrote: »

Hi hun
Even though this was done online, we decided to call them as well, they said they are not so over run with these like they were before and aim to get them returned to us within 10 days........will wait and see though.....:rolleyes: .
The last time I think we received back within 15 days.

Also the last time we kept a check on it online as you can track it down, fingers crossed x

Thats good for you DI and if they don't tell them to send you a brand new one instead.

di3004

marshallka wrote: »

Thats good for you DI and if they don't tell them to send you a brand new one instead.

lol, told them that already on the phone, I explained it was for my son and his circumstances, as I had got him some games for xmas for him to play for the xbox which would useless without it, or he will not have a very good xmas......guilt trips.....:o , they then tried reassuring us, but its only words to us.....:rolleyes: