PPI Reclaiming discussion Part III

Credit-Crunched

marshallka wrote: »

Also this is a shock here from "whatconsumer"

Its says about PPI here.... (July 2008)

No obligation, shop around

PPI is not obligatory, unless the lender makes it clear that is it a condition of the loan.


http://whatconsumer.co.uk/payment-protection-insurance-ppi/

According to this then you CAN be told you have to take out PPI if the lender makes it clear... .

Complete nonsense, PPI is always an OPTIONAL ploicy, any other statement is factually incorrect. Part of the FSA cores principle of treating customers fairly dictates this.

marshallka

Credit-Crunched wrote: »

Complete nonsense, PPI is always an OPTIONAL ploicy, any other statement is factually incorrect. Part of the FSA cores principle of treating customers fairly dictates this.

I was quoting from "whatconsumer"....and according to them...:D

marshallka

Still no news on my Firstplus complaint about the unfair rebate I received. For anyone not able to use the Ombudsman service about the misselling of their PPI due to regulation issues...:rolleyes: you could try what I was told to do by the Ombudsman and that is to complain about the policy itself and this type of complaint lies with the insurer. Mine still has jurisdiction issues although its a complaint about the unfair terms in the policy etc but still worth a try for others on here.


From "thisismoney"


But there might be one last avenue for you to pursue in getting your money back. I suggest you complain again to the Ombudsman but this time make clear that it is the policy itself that you are complaining about, not the sale. The policy is from an insurer called ******* and they are a regulated company, and were regulated in 2001.
In your complaint, make clear that you cannot possible make use of the insurance policy because you are self-employed. Say that you regard the inability to cancel the insurance and get a reasonable refund to be unfair under the Unfair Terms in Consumer Contracts Regulations. There are no guarantees but the Ombudsman should at least hear your case. Good luck.

marshallka

For anyone with complaints against Egg for telephone sales between January, 2005 and December, 2007 (I know this happened a few days ago but I thought i would post the dates again for anyone with Egg complaints)

The FSA fine Egg for misselling payment protection insurance (PPI) over a two-year period

The watchdog said that about 40% of Egg's sales calls were guilty of this and that a variety of hard-selling techniques were used to try and get customers to take PPI that was not suitable for them.

Anyone who has an Egg credit card with payment protection insurance now has a very good basis for reclaiming the cost of the insurance.

The FSA has told Egg it must write to customers asking them to call a dedicated number if they have any concerns about the policy or the way it was sold to them and compensate them where appropriate.

If you are an Egg customer, you should either wait for this letter or contact Egg direct and lodge your complaint.

The hard-sell tactics by Egg on PPI included over-emphasising the positive features of PPI, telling the customer they could take the PPI for a free period and cancel it later, and even applying PPI to some customers' credit cards after they said they did not want it. Egg ended telephone sales of credit card PPI in December 2007

Credit-Crunched

marshallka wrote: »

I was quoting from "whatconsumer"....and according to them...:D

I am aware of that and was agreeing with you.

miamoo

Wow this thread goes really fast, thanks for the replys. He took out the loan june 2006 to pay off his other loan and his credit card it was with natwest. Yes he made a claim as he was off sick for 2 months last year, he had a minor op (got £600 paid through the PPI) thats why they say he can't cancel it. (it hadn't crossed his mind to try and claim the PPI back, he just wanted to cancel it from now on) yes it was a lunp sum added at the time of the loan, and he paid interest on the PPI also. I was kind of hoping that as they have lost the loan agreement, we could get them to agree to remove the PPI? Do you think they would though

marshallka

FOS has had over 25000 complaints on PPI this year according to which yesterday

http://www.moneymarketing.co.uk/cgi-bin/item.cgi?id=178319&d=340&h=341&f=342

Which? says the Ombudsman has now written to the Financial Services Authority about the issue after it noted that a significant proportion of complaints that were being upheld, made it think there was "widespread consumer detriment".

Although the FOS was set up to deal with individual complaints it makes sense that if so many consumers are complaining about the same issue that they take this up as a collective compliant and force companies to treat their customers fairly.”

Is this about the issues like Firstplus and where catinthehat had the email stating that her complaints and "others too" etc.....

marshallka

miamoo wrote: »

Wow this thread goes really fast, thanks for the replys. He took out the loan june 2006 to pay off his other loan and his credit card it was with natwest. Yes he made a claim as he was off sick for 2 months last year, he had a minor op (got £600 paid through the PPI) thats why they say he can't cancel it. (it hadn't crossed his mind to try and claim the PPI back, he just wanted to cancel it from now on) yes it was a lunp sum added at the time of the loan, and he paid interest on the PPI also. I was kind of hoping that as they have lost the loan agreement, we could get them to agree to remove the PPI? Do you think they would though

I hate to be the bearer of bad news but as I understand if you have made a claim then you cannot state it was missold as well but I think you can still cancel it though....you would need to review the terms and conditions of your actual policy as some do state that if you have made a claim then you cannot cancel. Some say like this


If you cancel your policy after the cooling-off period, and
you have already made a claim, you may not get a refund
(depending on the policy). You can get more information
about this from the policy itself


As regards the credit agreement then they should be able to supply this and if they cannot then this is another matter to the PPI... .

di3004

marshallka wrote: »

DI, marcus has already won and posted it earlier today. He was just replying to Pinknico about why he made the complaint.:D


marcus01235oxon
MoneySaving Newbie


Join Date: May 2007
Post Count: 11
Thanked 10 Times in 4 Posts


You can tell egg have been fined...
I've claimed against egg for mis selling me my ppi. I am on week 7 and i've been ringing them every two weeks, just out of boredom. And this morning i got told that its been "Upheld", and that they have sent the cheque down to be signed off.

Yay.... i was only expecting £937, but i am getting £1015.09. Just have to wait for the cheque to arrive in the post now....

Result........

Thanks Martin and everyone.......

Merry Christmas:A

pmsl........:rotfl: :rotfl: :rotfl: , serves me right for rushing through the posts earlier lol......:o :rotfl: :rotfl: , good news for Marcus then well done :beer: :T :j .

Di
x

miamoo

Thanks very much for your help. Do you think its possible to try and bargain with the bank, and say as you can't produce the loan agreement remove the rest of the PPI and we will not take things any further? or would we just sound stupid!