PPI Reclaiming discussion Part III

marshallka

mbrann wrote: »

Hi All,

As the title says, I could use some advice please. 4 years ago I bought anew car and financed it on an un-regulated agreement with BMW Financial Services. The monthly payment was 581.00 and the PPI was £186.00 pcm on top. Now, I have made a claim on this policy as I was un-employed for a short while, so from reading the guidelines I know I cannot go down the normal mis-sold route. However, my issue, is I that beleive I was grossly overcharged for the PPI amount. My reasoning is:

I had negotiated a good deal on the car with the salesman not making much if any commission.

From research , BMW normally offer cover at roughly 10 -15% of the monthly payment cost. I have had this confirmed as I have just financed another deal with BMW Financial Services. This should have meant that I would have been paying between £60 - £90 pcm for the cover. When signing the documents, I did query the amount as I thought it was high but was told that that was the sum and that was it.

So, my question is. Do I have a case to recover the possible overcharged amount? This isn't a case of having my cake and eating it, but of obtaining redress for obviously being ripped off.

Advice welcomed.

Many thanks

Mark

Mark you can always send them a letter to say that you were never offered anything cheaper in the PPI and although you have made a claim you only just found out about the fact that should have been allowed to shop around.

There is never any harm in a complaint as you could win. Send the letter recorded delivery too. You need to make the complaint to the company that actually sold you the PPI.

You could also mention the fact that you are going to make a complaint to the OFT and FSA and also the FOS.

Good luck

Katie82_2

Hi
I just wanted to let you know the good news! I posted a letter to Littlewoods Personal Finance on 05/01/09 to claim back my mis-sold PPI. I received a letter today which I was expecting to be a standard reply - but nope. It was a cheque for the full refund plus 8% interest!!!!
Thank you all so much for your help and advice!!!
Katie

di3004

Hi everyone

I will get to read the posts properly as soon as I can, Aol, seem to be playing up today, for me it is not sure what its been like for anyone else with these , even internet explorer been a right pain, this page to me has gone huge, I have tried adjusting it and its not having it...... .

Catch you all as soon as I get this damn thing sorted out :mad: .

Di
xxxxx;)

mrsright21

Hi i will start from beginning
we have bought windows in 2006,salesmen from zenith has sold us insuranse policy,as well as loan with GEmoney(whom we currently paying money to)
He didnt tell it was optional just tick the boxes and we're sighned it..
I've written a letter to GEmoney telling that i been mos-sold..
Just received reply saying that:

Unfortunately i do not feel this is a complaint we can satisfactorily investigate..
This is because,although GEmoney provided the finance that paid for the payment protection policy,it was not GE money who sold policy to you it was Zenith Windows.

Since your complaint is abobe the advice you were given and as GE money is not present at point of sale,you should contact the supplier,Zenith Windows,and ask to investigate your complaint...

I hope they will be able to resolve your complaint for you..Our internal complaints procedure is now exhausted and this letter represents out final re sponse..As such you are now entitled to refer this matter either the finance and leasing association or the financial ombusman..

I want to cry,what to do now?
I understand that Zenith was just trhird party(mis-seling) but GEmoney one who should resolve this..Maybe im wrong..Please what to do next..
P.S. sorry for such a long post..

showergirl

di3004 wrote: »

Hi everyone

I will get to read the posts properly as soon as I can, Aol, seem to be playing up today, for me it is not sure what its been like for anyone else with these , even internet explorer been a right pain, this page to me has gone huge, I have tried adjusting it and its not having it...... .

Catch you all as soon as I get this damn thing sorted out :mad: .

Di
xxxxx;)

Di.
The page went huge on me as well, it was a real pain to read. Everything seems ok now. It must be something to do with that page.

Have you read the post about littlewoods PF, they have paid out after 4 days. God I wish they were all like that

maxdp

mrsright21 wrote: »

Hi i will start from beginning
we have bought windows in 2006,salesmen from zenith has sold us insuranse policy,as well as loan with GEmoney(whom we currently paying money to)
He didnt tell it was optional just tick the boxes and we're sighned it..
I've written a letter to GEmoney telling that i been mos-sold..
Just received reply saying that:

Unfortunately i do not feel this is a complaint we can satisfactorily investigate..
This is because,although GEmoney provided the finance that paid for the payment protection policy,it was not GE money who sold policy to you it was Zenith Windows.

Since your complaint is abobe the advice you were given and as GE money is not present at point of sale,you should contact the supplier,Zenith Windows,and ask to investigate your complaint...

I hope they will be able to resolve your complaint for you..Our internal complaints procedure is now exhausted and this letter represents out final re sponse..As such you are now entitled to refer this matter either the finance and leasing association or the financial ombusman..

I want to cry,what to do now?
I understand that Zenith was just trhird party(mis-seling) but GEmoney one who should resolve this..Maybe im wrong..Please what to do next..
P.S. sorry for such a long post..

Hi

If it was zenith who sold you the PPI then go back to them. Have you copies of all the paperwork with you?

showergirl

marshallka wrote: »

Oh showergirl, that is so annoying, I know how much you want this one done and dusted and from what I hear of Tesco they need fining for this handling of complaints. I hope they get back to you on Monday.:mad:

Just really peed off Marshallka, but I haven't given up the fight. Have you seen the post from Katie, she has been paid out after 4 days. It just goes to show it can be done, so why are all the others delaying.

di3004

mrsright21 wrote: »

Hi i will start from beginning
we have bought windows in 2006,salesmen from zenith has sold us insuranse policy,as well as loan with GEmoney(whom we currently paying money to)
He didnt tell it was optional just tick the boxes and we're sighned it..
I've written a letter to GEmoney telling that i been mos-sold..
Just received reply saying that:
Unfortunately i do not feel this is a complaint we can satisfactorily investigate..This is because,although GEmoney provided the finance that paid for the payment protection policy,it was not GE money who sold policy to you it was Zenith Windows.
Since your complaint is abobe the advice you were giveb and as GE money is not present at point of sale,you should contact the supplier,Zenith Windows,and ask to investigate your complaint...
I hope they will be able to resolve your complaint for you..Our internal complaints procedure is now exhausted and this letter represents out final re sponse..As such you are now entitled to refer this matter either the finance and leasing association or the financial ombusman..
I want to cry,what to do now?
I understand that Zenith was just trhird party(mis-seling) but GEmoney one who should resolve this..Maybe im wrong..Please what to do next..
P.S. sorry for such a long post..

Hi there hun
So they are giving you the runaround then ?

Zenith should have a finance department, photocopy the letter you recieved and a copy of the complain/reclaim letter which I take it you have done, and send to Zenith.

On a separate letter you can write
I have enclosed a letter from GE money who claim that the complaint enclosed copy does not occur to them but to you as you were the company that had arranged my finance, I will appreciate it if you could consider my complaint and respond within 8 weeks.
If you do not give me a favourable response, I will have no option but to complain to the Financial ombudsman service.

Hun you can always ring the FOS now who may offer for you to send them your complaint to them, they will then write to the company who they think who should deal with it, so take photocopies of any agreements, terms and conditions etc, and any letters in copies you have sent out so far, and instead of you writing to the company, they will do this for you.
But either ring or email them first: Let us know how you get on, cheers.;)

Fos
call us on our consumer helpline on 0845 080 1800

Good luck.

di3004

showergirl wrote: »

Di.
The page went huge on me as well, it was a real pain to read. Everything seems ok now. It must be something to do with that page.

Have you read the post about littlewoods PF, they have paid out after 4 days. God I wish they were all like that

Showergirl, this is fantastic news and that quick as well :eek:
Congratulations huni, well done :T :beer: :j .

Yes shame they don't all act that quick .

Thought it was just my puter lol......:o xxxxx

mrsright21

di3004
Just read again your post..Could you please correct me if i understood all right..
1. write template letter to Zenith..
2. photocopy letter GEmonet sent to me and send Zenith letter saying
,,I have enclosed a letter from GE money who claim that the complaint enclosed copy does not occur to them but to you as you were the company that had arranged my finance, I will appreciate it if you could consider my complaint and respond within 8 weeks.
If you do not give me a favourable response, I will have no option but to complain to the Financial ombudsman service.,,
3. wait for reply,then go to FOS..

thank you..