PPI Reclaiming Discussion part 4

di3004

ajatuk wrote: »

Thanks for that Di - not sure if, after reading that its good or bad news for my case ??? Surely if they owe me money for PPI then they cant decide where that money goes?? It may be that I choose to pay it off my loan, however surely thats my choice to make? Hmmmm...not got a good feeling about this one

That's okay.
If you don't ask you will never know and of course if they did not deal with this as you requested, it can always be yet another complaint, if they then don't resolve it, move on to the FOS to get your money back due to being again deprived of your own money.

Hope this helps.;)

9124poly

Hi
i have a question, my daughter has claimed her PPI on her CC first contact Nov 2009 then Dec 2009 as no reply and bank said not received then had a letter, followed by silence so phoned and had to resubmit over the phone as the ref number on the letter didn't exsit! in Feb 2010 had a letter saying it should be a few weeks before the decision. waited until 10th March 2010 phoned still waiting for the paper work to arrive so could be soon (delay due to so many claims)
a claim was submitted to the ombudsman (despite the bank saying it would not make any difference to time or out come) got a form from the ombudsman who also said they would write to the bank.
yesterday got a letter from the bank saying they have lost all the paperwork pertaining to the CC PPI and so as a good will gesture they will pay back all the PPI + interest accrued, that this is a final offer and no negotion will be entered into, but there is no indication of how much. and if the offer is accepted then that is the end of the matter.
My question is should she settle or she she persue the matter via the ombudsman? the tone of the letter sounds very devious and I'm not sure they can be trusted. Will she or should she get more than what they are offering ie interest on the sum as though she had saved it?
thanks poly

southend

i have had the same problem, but bear in mind they are still adding interest on a daily basis, i don't know how this would work as it can be different procedure in any bank - so i have been told, hence the guidelines they are following. I must admit their letters do not seem to make sense and they seem to be bullying you or deceiving you into making a quick decision. I cant help but i wish you all the best

Annie22

Hi there,

After reading your advice to try again with reclaiming PPI from Firstplus I decided to dig around to find any paperwork on my first attempt in 08. Found a letter from them saying the Advisor on the phone told us loan agreed in principle regardless of whether we took the insurance they offered or not, saying it was optional and that they sent us the full terms and conditions of the policy with the loan agreement.

The letter also states the agreement shows the insurance is optional, is included in the total loan amount as a single premium with interest applicable on the full loan amount. It also mentions that we both covered for life assurance and that hubby also covered for accident sickness and involuntary employment.

I'd just finished the letter I was gonna send off asking for evidence that they'd informed us of all of the above! Not sure if that's the end of it for us? Only other thing I put in letter was about the Rule of 78 being used in our early settlement figures which were extortionate and meant there was no way we could possible settle the loan early. I've also dug out all their letters informing us of rate increases and bearing in mind we took the loan out in 03, we had increases in May 04, Dec 06, Feb, April and July 07, Jan 08 and Aug 08 - the only decrease was in Mar 08.

Gonna take a look at the Firstpluscomplaints website now, but would really appreciate your thoughts on whether it's worth me trying again. Annie22

di3004

9124poly wrote: »

Hi
i have a question, my daughter has claimed her PPI on her CC first contact Nov 2009 then Dec 2009 as no reply and bank said not received then had a letter, followed by silence so phoned and had to resubmit over the phone as the ref number on the letter didn't exsit! in Feb 2010 had a letter saying it should be a few weeks before the decision. waited until 10th March 2010 phoned still waiting for the paper work to arrive so could be soon (delay due to so many claims)
a claim was submitted to the ombudsman (despite the bank saying it would not make any difference to time or out come) got a form from the ombudsman who also said they would write to the bank.
yesterday got a letter from the bank saying they have lost all the paperwork pertaining to the CC PPI and so as a good will gesture they will pay back all the PPI + interest accrued, that this is a final offer and no negotion will be entered into, but there is no indication of how much. and if the offer is accepted then that is the end of the matter.
My question is should she settle or she she persue the matter via the ombudsman? the tone of the letter sounds very devious and I'm not sure they can be trusted. Will she or should she get more than what they are offering ie interest on the sum as though she had saved it?
thanks poly

Hi there Poly

Wonder if they would give you a figure over the phone, tell them this is required before a decision can be made on your part (daughter's).

You could though as a general query contact the FOS and ask them if they would ask on your behalf.
http://www.financial-ombudsman.org.uk/contact/index.html
Explain you have submitted a complaint with them and have since received an offer, but the bank have stated they lost all the details (which is in fact very naughty of them), and ask the FOS if they are able to on your daughter's behalf write to them to ask for a figure, hopefully they will do this for you, and if then your happy with the offer, the FOS will know then to return and end your case or to continue, whatever your happy with.

Hope this helps, good luck, please let us know how you get on.
Cheers.;)

di3004

Annie22 wrote: »

Hi there,

After reading your advice to try again with reclaiming PPI from Firstplus I decided to dig around to find any paperwork on my first attempt in 08. Found a letter from them saying the Advisor on the phone told us loan agreed in principle regardless of whether we took the insurance they offered or not, saying it was optional and that they sent us the full terms and conditions of the policy with the loan agreement.

The letter also states the agreement shows the insurance is optional, is included in the total loan amount as a single premium with interest applicable on the full loan amount. It also mentions that we both covered for life assurance and that hubby also covered for accident sickness and involuntary employment.

I'd just finished the letter I was gonna send off asking for evidence that they'd informed us of all of the above! Not sure if that's the end of it for us? Only other thing I put in letter was about the Rule of 78 being used in our early settlement figures which were extortionate and meant there was no way we could possible settle the loan early. I've also dug out all their letters informing us of rate increases and bearing in mind we took the loan out in 03, we had increases in May 04, Dec 06, Feb, April and July 07, Jan 08 and Aug 08 - the only decrease was in Mar 08.

Gonna take a look at the Firstpluscomplaints website now, but would really appreciate your thoughts on whether it's worth me trying again. Annie22

Good luck with this one Annie, I'm sure on the FPC site they will know of the best action to take on this one for you.

Fingers crossed.;)

amersall

Annie22 wrote: »

Hi there,

After reading your advice to try again with reclaiming PPI from Firstplus I decided to dig around to find any paperwork on my first attempt in 08. Found a letter from them saying the Advisor on the phone told us loan agreed in principle regardless of whether we took the insurance they offered or not, saying it was optional and that they sent us the full terms and conditions of the policy with the loan agreement.

The letter also states the agreement shows the insurance is optional, is included in the total loan amount as a single premium with interest applicable on the full loan amount. It also mentions that we both covered for life assurance and that hubby also covered for accident sickness and involuntary employment.

I'd just finished the letter I was gonna send off asking for evidence that they'd informed us of all of the above! Not sure if that's the end of it for us? Only other thing I put in letter was about the Rule of 78 being used in our early settlement figures which were extortionate and meant there was no way we could possible settle the loan early. I've also dug out all their letters informing us of rate increases and bearing in mind we took the loan out in 03, we had increases in May 04, Dec 06, Feb, April and July 07, Jan 08 and Aug 08 - the only decrease was in Mar 08.

Gonna take a look at the Firstpluscomplaints website now, but would really appreciate your thoughts on whether it's worth me trying again. Annie22

hi annie, you go for it, they did not tell you it would be payable over the term of the loan with interestand that it only lasted 5 years , they certainly did not give you the option to take protection elswhere. as di says you will get all the help you need on the fpc webste, you go for it

Annie22

Many thanks for your encouragement!! Will hang in there xx Annie22

Cutiesinger1976

di3004 wrote: »

Absolutely fantastic :j:j:T:T:j
Well done and Congratulations to you :beer::beer:

Hiya!!

Thanks very much :rotfl::rotfl:

di3004

Cutiesinger1976 wrote: »

Hiya!!

Thanks very much :rotfl::rotfl:

Your welcome lol.:j:T:beer::D