PPI Reclaiming discussion Part III

di3004

Marshallka must have gone to sort out tea......:p

Hubby is cooking tonight, he may as well make himself useful while I catch up on here lol

marshallka

di3004 wrote: »

Marshallka must have gone to sort out tea......:p

Hubby is cooking tonight, he may as well make himself useful while I catch up on here lol

No Di, been looking up Lloyds of London on the fsa website and they were authorised by the FSA on 1/12/01

http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=78871

marshallka

Now my complaint is about unfair terms in consumer contracts and I have put in my email to the FOS that there was no cooling off period at all on the policy and also the rebate was written in a form whereby we could not understand what it meant and was excessive and unfair.

I thought Lloyds of London were insurers but they are underwriters by the look of here...

booi666

Final verse

Im glad my ordeal is nearly over

and my life is getting back on track

All the letters and words that ive spoken

Then this wouldnt of happened if id read the welcome pack

ive learnt a hard a valuable lesson

dont ever trust a man that says he's your freind

especially the ones in a shirtand a suit on

my refund came through today now this is the end

maxdp

booi666 wrote: »

Verse 2

I sit here waiting for all my replies to come through

Theyve had there 40 days now i dont know what to do

I need to get back on the phone

To the financial ombudsman

Only to be told

That they will help me if they can

i really sick of waiting

For these robbing cu--s to call

cos i really need my refund now

so i get !!!!ed and have a ball

I love it. We need to make money from it so we can get money to sue all these bankers.:p

di3004

marshallka wrote: »

No Di, been looking up Lloyds of London on the fsa website and they were authorised by the FSA on 1/12/01

http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=78871

That is good then they were authorised.

Hamilton were authorised as well, but even though they got back to the FOS they run under "norwich union" now......

marshallka

Just found the email I sent to the FOS about the unfair rebate here


Thanks for the email about the unfair rebate issue that I have. I wanted to just clarify that per my conversation with the manager Mr ******* the other day he said that you would write to the insurer and ask for their final response to my complaint. I wondered whether you wanted my wording in a letter to send to these. I have now drafted a letter and wanted to know what you are actually stating in the complaint. As this is now a complaint to the insurer do I have to state my argument again... I am so confused of this issue. I don't want to have to go through this again and then you tell me that this is outside jurisdiction. I was told by FIrstplus that the insurer to write to is Cassidy Davis in the first instance and they would pass the complaint to Lloyds of London but from what I can tell Cassidy Davis does not fall within the jurisdiction and am I then going to have start again by writing to LLoyds of London. Also Lloyds of London state on their website that complaints about the terms of policies is not something they look into.

Q9. I AM UNHAPPY WITH THE INCREASE IN PREMIUM (OR TERMS, CONDITIONS OR EXCLUSIONS) THAT HAVE BEEN APPLIED TO MY POLICY

[FONT=Arial,Arial][FONT=Arial,Arial]A. Please click here if you wish to make a complaint. While we are happy to look into your complaint, in most instances we are unable to intervene in complaints of this nature as they are concerned solely with the insurers’ use of their commercial judgement.

My complaint is about the term of the PPI policy that I feel was unfair and we had not idea of this term and how this was worked out. Because of this term we then paid for a policy that we no longer used. We feel that this term on the policy was only fair to the insurer. Above says that they are unable to intervene in complaints of this nature.

Am I being sent around in a big circle here and going to be back to the "no sorry cannot help as outside our jurisdiction". Also we wanted to complain that their was no cancellation on the policy of either 14 days or 30 days.
From the time we had the policy which was the day we signed the credit agreement with Firstplus we had only the 7 days cancellation on the agreement. After that time if we wanted to cancel the PPI then the policy gave us cancellation rights of what it said that was an unfair term. As the PPI was included in the loan agreement our statutory rights against cancelling a policy that included life insurance which should have been 30 days were then squashed. This again was an unfair relationship and produced a completely unfair agreement. If the term about cancellation was upheld by the Ombudsman then surely this make the whole agreement between ourselves and FIrstplus unfair.


Termination of Cover and Benefit
If you cancel your policy before its normal expiry date you will receive a rebate of your premium provided you have not made a successful claim. Your insurers will not calculate your rebate proportionally, rather under the Rule of 78 set out in the Consumer Credit Act 1974.


I just hope that the FOS have included all this in my complaint to Lloyds....
[/FONT][/FONT]

di3004

marshallka wrote: »

Now my complaint is about unfair terms in consumer contracts and I have put in my email to the FOS that there was no cooling off period at all on the policy and also the rebate was written in a form whereby we could not understand what it meant and was excessive and unfair.

I thought Lloyds of London were insurers but they are underwriters by the look of here...

Hmmm, its gets very confusing doesn't it ?

rkm123

Hi, I was wondering if you could help me? I have just been reading through my First Plus booklet. I was trying to find how much we owe on our loan as my hubby is thinking of a new job which would mean a house move. I was horrified to find that the Insurance I have paid was not only taken upfront but I am going to be paying for it for 15 years but will only be covered for 5 years. My husband is covered under his works sick pay for full pay for 6 months and half pay for 6 months. I knew it would be repaid after 5 years but I didnt realise it was up front and I certainly had no idea it would be over 15 years!!! The form says we get back £16775 but we are paying £155 a month for this. I am SO angry at myself for not seeing this. Any advice on what we can do if anything would be very gratefull received.

di3004

marshallka wrote: »

Just found the email I sent to the FOS about the unfair rebate here


Thanks for the email about the unfair rebate issue that I have. I wanted to just clarify that per my conversation with the manager Mr ******* the other day he said that you would write to the insurer and ask for their final response to my complaint. I wondered whether you wanted my wording in a letter to send to these. I have now drafted a letter and wanted to know what you are actually stating in the complaint. As this is now a complaint to the insurer do I have to state my argument again... I am so confused of this issue. I don't want to have to go through this again and then you tell me that this is outside jurisdiction. I was told by FIrstplus that the insurer to write to is Cassidy Davis in the first instance and they would pass the complaint to Lloyds of London but from what I can tell Cassidy Davis does not fall within the jurisdiction and am I then going to have start again by writing to LLoyds of London. Also Lloyds of London state on their website that complaints about the terms of policies is not something they look into.

Q9. I AM UNHAPPY WITH THE INCREASE IN PREMIUM (OR TERMS, CONDITIONS OR EXCLUSIONS) THAT HAVE BEEN APPLIED TO MY POLICY

[FONT=Arial,Arial][FONT=Arial,Arial]A. Please click here if you wish to make a complaint. While we are happy to look into your complaint, in most instances we are unable to intervene in complaints of this nature as they are concerned solely with the insurers’ use of their commercial judgement. [/FONT]

[FONT=Arial,Arial]My complaint is about the term of the PPI policy that I feel was unfair and we had not idea of this term and how this was worked out. Because of this term we then paid for a policy that we no longer used. We feel that this term on the policy was only fair to the insurer. Above says that they are unable to intervene in complaints of this nature. [/FONT]

[FONT=Arial,Arial]Am I being sent around in a big circle here and going to be back to the "no sorry cannot help as outside our jurisdiction". Also we wanted to complain that their was no cancellation on the policy of either 14 days or 30 days. [/FONT]
[FONT=Arial,Arial]From the time we had the policy which was the day we signed the credit agreement with Firstplus we had only the 7 days cancellation on the agreement. After that time if we wanted to cancel the PPI then the policy gave us cancellation rights of what it said that was an unfair term. As the PPI was included in the loan agreement our statutory rights against cancelling a policy that included life insurance which should have been 30 days were then squashed. This again was an unfair relationship and produced a completely unfair agreement. If the term about cancellation was upheld by the Ombudsman then surely this make the whole agreement between ourselves and FIrstplus unfair.[/FONT]


[FONT=Arial,Arial]Termination of Cover and Benefit
If you cancel your policy before its normal expiry date you will receive a rebate of your premium provided you have not made a successful claim. Your insurers will not calculate your rebate proportionally, rather under the Rule of 78 set out in the Consumer Credit Act 1974.


I just hope that the FOS have included all this in my complaint to Lloyds....
[/FONT][/FONT]

They should do, but maybe its worth re-sending it to them to make sure.
Just in case.;)