PPI Reclaiming Discussion part 4

jorcon3018

Hi Everyone,

My FSCS claims against Loans.Co.UK has hit the wall, they have turned the claim down, as apparently there is some part of Loans.co.uk that are still open for business, hence i need to re-direct my claim towards them.

Do you suggest i just write to their head office & use the template from this site.

Bit annoyed tho, as i enquired with FSCS before claiming & they said they'd gone bust & i needed to claim through them, i've lost 2 months now. Nevermind!!

di3004

jorcon3018 wrote: »

Hi Everyone,

My FSCS claims against Loans.Co.UK has hit the wall, they have turned the claim down, as apparently there is some part of Loans.co.uk that are still open for business, hence i need to re-direct my claim towards them.

Do you suggest i just write to their head office & use the template from this site.

Bit annoyed tho, as i enquired with FSCS before claiming & they said they'd gone bust & i needed to claim through them, i've lost 2 months now. Nevermind!!

Hi there

Sorry to hear this.

I would of course write to their head office, but do also post about this on the companies in default thread too where others on there may have some suggestions.
However, if the loan was brokered by loans.co.uk the FSCS should be able to deal with this for you.
Thread as stated here:
http://forums.moneysavingexpert.com/showthread.html?t=1897143

Hope this gets sorted out for you soon, fingers crossed.

jorcon3018

Thanks Di,

I can only assume as Loans.co.uk are still solvent, i need to write to them now, which i am in the process of doing using the template.

I assume i'm ok putting a list of reasons why i was mis sold, as there are a few, including:
1: They've already been fined for not TCF & were fined £500k by the FSA
2: They sold me single cover for a loan in joint names
3: When i realised they had added PPI to my loan, they refused to cancel it or rebate the premium, basically i repaid the loan after 11 months, yet still paid £2500 for PPI i never asked for as i got no rebate when paying back the loan
4: There form doesn't give you the option to opt out of PPI, you either tick a box saying what level of cover you want, or you sign the form without ticking anything, that then leaves them the chance to tick something for you, which they did, but as stated above they ticked an option which made the policy useless( single cover for joint loan)

I could go on, but i think you get the picture.

I've posted on the other thread that you mentioned, asking for anyone with expeirence of LCUK.

Fingers Crossed.

Rich

di3004

jorcon3018 wrote: »

Thanks Di,

I can only assume as Loans.co.uk are still solvent, i need to write to them now, which i am in the process of doing using the template.

I assume i'm ok putting a list of reasons why i was mis sold, as there are a few, including:
1: They've already been fined for not TCF & were fined £500k by the FSA
2: They sold me single cover for a loan in joint names
3: When i realised they had added PPI to my loan, they refused to cancel it or rebate the premium, basically i repaid the loan after 11 months, yet still paid £2500 for PPI i never asked for as i got no rebate when paying back the loan
4: There form doesn't give you the option to opt out of PPI, you either tick a box saying what level of cover you want, or you sign the form without ticking anything, that then leaves them the chance to tick something for you, which they did, but as stated above they ticked an option which made the policy useless( single cover for joint loan)

I could go on, but i think you get the picture.

I've posted on the other thread that you mentioned, asking for anyone with expeirence of LCUK.

Fingers Crossed.

Rich

Hiya Rich

Yes I see what you mean here, I think I was getting confused with another company called loanmakers where the FSCS are dealing with these, but sounds like you have a good case, so write to them with your reasons and give them 8 weeks to respond in full.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Post by recorded delivery - for your proof of posting.

Funny enough there is a thread on here somewhere in regards of LCUK, if I find it I will post up for the link for you unless someone beats me to it, good luck, please keep us posted.


Di

Marsdendean

Hi,

I took out a Egg credit card in Oct 2007, and just looked at the online application form and it shows i have ticked the box. I cannot remember if i could view how much it would cost or what was covered, so should i give it a go at claiming? Also, i don't

I also have it with Natwest, same situation where i cannot remember if it told me the costs etc,

Thanks a lot

Marsdendean

maxdp

Hi There

It could be that it was a pre ticked box. Does it say that you had to opt out of the insurance. So unless you untick the box the PPI will go ahead. If you feel you have been mis informed or mis sold then give it a go.

If you ticked the box knowing what you were getting then No you should not claim back.

If you do not require the insurance then you can cancel it. Write to them asking to do so. You usually have to give a months notice.

Good Luck

di3004

Marsdendean wrote: »

Hi,

I took out a Egg credit card in Oct 2007, and just looked at the online application form and it shows i have ticked the box. I cannot remember if i could view how much it would cost or what was covered, so should i give it a go at claiming? Also, i don't

I also have it with Natwest, same situation where i cannot remember if it told me the costs etc,

Thanks a lot

Marsdendean

Hi there
Yes do give it a go.
Do you know if there was also telephone communications with these as well?
This may be in regards of your application - of them going through this with you too, even though it was purchased online, some do also communicate by telephone.
If this is the case, I would also try to ask for a copy of the telephone records by disc, or even written transcripts.

I would give it a go though with the reasons you have.

Also check out the guidelines of reclaiming here below, good luck and please keep us posted.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Marsdendean

Hi.

I don't think so. Everything was done online. Ill get the letter sent tomo. What letter should i be sending since i was not told the costings and circumstances etc?

di3004

Marsdendean wrote: »

Hi.

I don't think so. Everything was done online. Ill get the letter sent tomo. What letter should i be sending since i was not told the costings and circumstances etc?

Hi there

With the help from a template from the loan insurance link I posted above, although I think its always best to write in your own words, get the tips from the template, and tell them you were not advised of the full cost of the policy, and if you thought PPI was all part of having the finance, let them know that as well.
If you also feel they added the PPI automatically make them aware of this, say you thought it was all part of the credit card.

Do also double check on the checklist of mis selling reasons as well, for instance you may have not been eligible to make a claim for example, you had a pre existing medical condition, where they would not pay out if you had to make a claim for this, and other reasons as well - could be that you were already protected by your employer, or you may not have been eligible if you were only employed for less that 16 hours.
If you were aware of the ppi, with the reasons you have if any of the above, then you would have known then not to have taken it out, but cannot recall on even crossing this yourself and believe it was self automated by EGG.

Hope this gives you some idea.;)

Marsdendean

Hi.

Thanks. I also have one with Natwest, again with PPI. I have rang them and told them i want to cancel it, but they say they have to do a form and sign it. Problem is, i have now rang them twice, and i have got no form from them, but had 2 PPI payments added to the account.

Can i complain to the FOS about them not letting me cancel the policy?

Thanks