PPI Reclaiming discussion Part III

di3004

Neptune76 wrote: »

Hi, Thanks for helping. Well on my agreement the supplier name is 1st Auto Direct Ltd somewhere in boston!

Right I will see if I can find a complaints department for 1st Auto Direct Ltd, they should have one, if you've still the paperwork for these, this may disclose the address details on there, meanwhile we will see if we find anything and post here for you.;)

di3004

Wonder if these are the right company for 1st Auto Direct Ltd?

Although I could not find "1st Auto Direct Ltd", but I did come across this here on "companies house search"
Does this address ring any bells?


Name & Registered Office:
AUTO DIRECT LIMITED
157 NEWPORT ROAD
ALDERSHOT
HAMPSHIRE
GU12 4PZ
Company No. 04688113

Status: Active
Date of Incorporation: 06/03/2003

Country of Origin: United Kingdom

di3004

Then on the FSA register search here:

451131 - Auto Direct Ltd

Current status:active


Address:157 Newport Road
Aldershot
Hampshire
GU12 4PZ
Phone:
Fax:
Email:
Website:
44 01252 403 705

[EMAIL="blanchard_jr@hotmail.com"]blanchard_jr@hotmail.com[/EMAIL]

Notices:Other information:

di3004

Found this by googling:

1st Auto Direct Ltd.

Beck House
BOSTON
Lincolnshire
PE20 1TT
United Kingdom Telephone:
Fax:
+44 (0)1205 290 900
Not available

If its these I would write directly to them and tell them if they do not resolve this case you will take to the Financial Ombudsman service to investigate.

Tell them that you received a letter from GE Money who claims its them you have to pursue.;)

di3004

Also a website, not sure if its the same actual company though here:

http://www.1stauto.co.uk/

jamboree001

Please accept my apologies for the long post.

In 2002, when I was young and very stupid, I took out a loan with Welcome Finance for £500 The salesman told me I needed to take out healthcare insurance and PPI if I wanted to guarantee that my application for a loan was accepted. I signed the form and he ticked the boxes.

I really didn't understand what PPI was for and he did not explain it to me.

Later on that year, I was struggling to keep up the repayments and I spoke to Welcome who offered me another loan. Part of this 'new loan' would pay off my existing loan and give me another £500 cash. Again, I signed the form and the salesman ticked the healthcare & PPI boxes :mad: so I presumed (from what I had previously been told) that I had to have these in order to guarantee that my application would be accepted.

This situation played out another 3 times (only difference being that the loan amount got larger each time). In total, I have 5 different loan agreements with Welcome and PPI and health insurance were added on to each of them:mad: .

I have copies of each of the loan agreements except for the very first one.

I settled my final loan early (in 2003) after speaking to an actual decent human being who worked at Welcome Finance (yes- there actually was one!!). He told me that if I possibly could, I should repay the loan and end all dealings with that company as what they were doing with me was textbook lending. It's just that I was too young, naive and desperate to figure that out!:mad:

My question is this... should I send a separate reclaim letter for each of the loans or should I send one letter for all of them? Should I give one or more reasons for reclaiming?

Any advice would be very gratefully received!:o

di3004

jamboree001 wrote: »

Please accept my apologies for the long post.

In 2002, when I was young and very stupid, I took out a loan with Welcome Finance for £500 The salesman told me I needed to take out healthcare insurance and PPI if I wanted to guarantee that my application for a loan was accepted. I signed the form and he ticked the boxes.

I really didn't understand what PPI was for and he did not explain it to me.

Later on that year, I was struggling to keep up the repayments and I spoke to Welcome who offered me another loan. Part of this 'new loan' would pay off my existing loan and give me another £500 cash. Again, I signed the form and the salesman ticked the healthcare & PPI boxes :mad: so I presumed (from what I had previously been told) that I had to have these in order to guarantee that my application would be accepted.

This situation played out another 3 times (only difference being that the loan amount got larger each time). In total, I have 5 different loan agreements with Welcome and PPI and health insurance were added on to each of them:mad: .

I have copies of each of the loan agreements except for the very first one.

I settled my final loan early (in 2003) after speaking to an actual decent human being who worked at Welcome Finance (yes- there actually was one!!). He told me that if I possibly could, I should repay the loan and end all dealings with that company as what they were doing with me was textbook lending. It's just that I was too young, naive and desperate to figure that out!:mad:

My question is this... should I send a separate reclaim letter for each of the loans or should I send one letter for all of them? Should I give one or more reasons for reclaiming?

Any advice would be very gratefully received!:o

Hi there hun
Just to double check here, do you know if these were members of GISC then hun, I think they were as from a certain month in 2003, the FSA taken over in Jan 2005.

I would just write and keep it all on one letter, tell them about all the loans you had with them over the years where you believe you were mis sold because of your reasons, its worth a shot anyway.

Check this out here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
The above link will give you more info about the PPI mis selling and give you an idea on yours and what to add in your reclaim complaint letter, there is also a template on that link, they have 8 weeks to respond and as always, post by recorded post for your proof.


I say if you don't try then you will never know, its worth trying for and its your money hun, get it back.;)

If you can let us know the outcome of this when you hear, that will be great, we will know whether this has to move on to another step, we shall take it from your response hun.

Good luck
Di
x

di3004

Marshallka

Hope your feeling better hunni, you rest and only come back when you feel better, we can manage, although I am not as quick as you.;) lol.

Get better real soon hun and don't worry about me, its all under control, you know what I mean.:D :A .

Di.
xxx

marshallka

cider66 wrote: »

yes im pretty sure the are but dnt no whether to accept this or ask for payment immediatly

Or are they saying that once the old loan with the PPI on is finished (and the new one redone!!) they will pay you out. This would the normal way..

I would ask your adjudicator to explain the refund more...

marshallka

sjat81 wrote: »

Hi All,

I took a loan through debt buster loans who at the time of buying told me that I had to take the PPI they were offering due to the type of loan I was getting or the company providing the loan would not give the loan to me ( poor credit) I then said could I not look elsewhere for it to get it cheaper and wwas told No (no ifs or buts) for these reasons I would like to claim:


At the time of sale and purchase, I believed that the Payment Protection Insurance was compulsory.
I was never informed that this insurance is only optional.

I was never informed that if Payment Protection Insurance was required we could purchase it elsewhere.

I was led to believe that our application would have been rejected had I not included the Payment Protection Insurance.


The PPI was then front loaded by the loan provider London Mortgage company so I have just phoned them to say I'm not happy as I have been mis sold the policy and they said it is not their responsibilty as the PPI was sold by the broker, so I contacted Debtbuster loans who said they would listen to the tapes of the sales conversation and get back to me (via phone) within 10 days, I have just received the letter saying my complaint is being investigated so I called them (the supervisor) who sent me the letter saying that I thought I would be contacted by phone within 10 days (I called them on the 27/11/08) with the outcome and he said he has passed it over to the complaints dept for resolving? and it will take upto 8 weeks before I hear anything which I think is quite long (is it excessive). Apparently they are following their standard compklaints procedure.

I then got the name of my insurance provider to tell them I want to cancel my PPI policy and I was told it was only for 3 years and so finished in june this year! it added around £2500 to my loan which I now have to pay for the next 15 years! which is an extra £37 a month.

What should I do as the policy is no longer valid and it was sold to me by a broker? should I send the first PPI letter to debtbuster loans or wait until they get back to me.

I took out the loan/PPI in June 05 (not sure if this helps me?) as I read in posts on here that some form of legislation came in around this time.


Can anyone advise me on what I should do from here?

Hi, Di has given you the link to reclaiming the PPI and the piece of legalisation that you are on about was in January, 2005 all sales of insurance were regulated by the FSA and there was certain rules to follow on these. As yours was after that date should they not pay you back for misselling you can take the complaint to the FOS for them to look into it for you.

Good luck