PPI Reclaiming Discussion part 4

DanDaniel

Hi folks,

I had a loan around 18 months ago with Welcome through a broker called BlueSky Finance. I was kind of led into PPI without knowing it and when the paperwork came through with PPI added i simply marked in the space provided that i didn't require this. Very soon after they received the paperwork back they called me to say that i should not have put on the needs and demands statement that i did not want it otherwise my application would have to start from scratch. The chap said to cancel it soon after my policy started. I didnt think to be honest they would go ahead and put PPI on as like i say i had officially said no to it on the relevant paperwork. Soon after getting the loan issued ( but apparently after the cool off date ) i called as my re-payments were reflecting a cost for PPI. They refused to refund the PPI money in full but gave me £2000 back. The cost of the policy was £3500. I therefore am £1500 out of pocket ( for 2 months PPI ). I have written many letters to them and they refuse to pay up. I have been told that i was provided info about the fact it was single premium PPI and the cooling off period was written in the contract. The photocopies of the contract between us clearly shows that i said no to PPI but that has been scribbled out and signed by someone at Bluesky ( Not me ) However on challenging them about them changing my demands and needs statement they simply said the member of staff has left and they cannot answer why this contract was altered, scribbled on and signed by someone else ( one of the signatures i swear looks like a very poor attempt at my signature!!! ). They have said because the main breakdown of the loan and interest etc showed the single premium PPI and i signed it they do not believe i have any case for complaint. So do i have a case considering i was given the info on PPI and it was single premium and does this altering of the statement put any legal slant on things ? I am in two minds as to wether or not to pursue this with the FOS ? Would anyone recommend an angle of attack ?

Comments kindly appreciated

Dan:mad:

di3004

Hi DanDaniel

If you wrote to complain and they had 8 weeks to resolve and not happy with the outcome, you can of course go to the FOS and complain about this.
However, if they have not given a final response it maybe worth you writing to them to ask them to reconsider, as you have been out of pocket due to the remainder of the £1,500.
You can also request they pay you the interest and 8% interest of what a court would award for being deprived of your money.

In regards of the FOS, you can complain over the phone as a quick method, or download and print online.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

http://www.financial-ombudsman.org.uk/contact/index.html

Was this sold over the phone?
If so then request they send you a copy of the phone recordings by disc, this may be very useful and help to support your case.

Good luck with this and hope this resolves your way soon, I think you have good reasons here and have been ripped off with your money, keep at them.;)

DanDaniel

Thanks for the reply. Yeah i had their final response. Will take it to the FOS and see what they have to say. Thanks for the quick reply :T

di3004

DanDaniel wrote: »

Thanks for the reply. Yeah i had their final response. Will take it to the FOS and see what they have to say. Thanks for the quick reply :T

Your very welcome.
Good luck with this anyway.
I would still request for the copy of the recordings though if a phone sale.;):)

DanDaniel

Just a quick addition, someone told me to ask for interest at a higher rate as i have been so poorly treated and documents possibly forged, do you know anything about this or have any advice to interest rates ? Many Thanks

di3004

DanDaniel wrote: »

Just a quick addition, someone told me to ask for interest at a higher rate as i have been so poorly treated and documents possibly forged, do you know anything about this or have any advice to interest rates ? Many Thanks

I am not too sure on this one to be honest, you can of course post up a separate thread on this one if you want to in this category under subject heading "PPI interest issues help", and write what you have done here in the new post, this way someone who may know more of this one will not miss your post and may have some useful advice for you.:)

bankkiller

Hi i had finaly got all my PPI refunded from lloyds TSB after a long battle !! Thanks to this forum ..

Lloyds paid me in two part they paid a sum of money into my current account and a sum of money into my loan account which had around £400.00 balance which was to be paid.

But when they paid the second part into my loan account i looked online and was happy to see it was £700.00 in credit i assumed that my loan had been paid off and that my LOAN Account was in credit..

I then phoned up the bank and told them that i had PPI refunded and that my loan account was showing £700.00 in credit and if they would kindly tranfer that £700.00 back into my current account ..

The guy on the phone said no problem and tranfred the funds into my current account i was very chuffed that my loan was paid off and that i was finally getting out of DEBT.

1 week later i checked online to see that my LOAN account was £700.00 in DEBIT i was shocked and phoned the bank up straight away but no one was willing to help me and they demanded the £700.00 with theathing letters !!

I then wrote a complaint letter stating what had happend and received the following response..

The bank said they were deeply sorry with the !!!! up that the department who transfred the funds as he was not ment to as the bank were gona adjust interest and i would of ended up being only £100.. in credit but as i transfred the funds before the bank made these adjustments i was in Debit of £700.00 and would have to pay back this sum to the bank..

THE QUESTION IS ITS NOT MY FAULT AND THE BANKS HAVE ADMITTED THIS IN THIER LETTER OF RESPONSE BUT THEY ARE STILL ASKING FOR PAYMENT.. DO I HAVE TO PAY THEM BACK AS ITS NOT MY FAULT ????

I AM ON INCOME SUPPORT AND AM DISABLED AND ALLREADY HAVE THE CAB OFFICE DEALING WITH MY DEBT.

markdsmith_2

UPDATE ON MY CASe WITH GE MONEY:

quick reminder:

I sent letters to GE asking for copies of my agreement as I never received the cooling off letter from Cavendish Finance who sold me the loan. To cut a long story short (told earlier in this thread), there were monies added to the loan which GE state is NOT PPI but would not state what the charges were for. Asked for copies of documents, never received anything. Promised an investigation and that they would get back to me by 29th March. Nothing! Sent another 7 day letter, no response. Went to FOS who said they would look into it for me.

Today received a letter stating "In this case we regret to inform you that, having reviewed your loan agreement, we do not have jurisdiction to consider your complaint, as it relates to activity that is not regulated by the Consumer Credit Act 2006".

1st point, I do not have a copy of the loan agreement so how can they have reviewed my loan agreement?

2nd point, the loan was taken out in August 2007 so why is this not covered by the CCA?

3rd Point why has GE Money not answered me?

Help and advice please.

di3004

bankkiller wrote: »

Hi i had finaly got all my PPI refunded from lloyds TSB after a long battle !! Thanks to this forum ..

Lloyds paid me in two part they paid a sum of money into my current account and a sum of money into my loan account which had around £400.00 balance which was to be paid.

But when they paid the second part into my loan account i looked online and was happy to see it was £700.00 in credit i assumed that my loan had been paid off and that my LOAN Account was in credit..

I then phoned up the bank and told them that i had PPI refunded and that my loan account was showing £700.00 in credit and if they would kindly tranfer that £700.00 back into my current account ..

The guy on the phone said no problem and tranfred the funds into my current account i was very chuffed that my loan was paid off and that i was finally getting out of DEBT.

1 week later i checked online to see that my LOAN account was £700.00 in DEBIT i was shocked and phoned the bank up straight away but no one was willing to help me and they demanded the £700.00 with theathing letters !!

I then wrote a complaint letter stating what had happend and received the following response..

The bank said they were deeply sorry with the !!!! up that the department who transfred the funds as he was not ment to as the bank were gona adjust interest and i would of ended up being only £100.. in credit but as i transfred the funds before the bank made these adjustments i was in Debit of £700.00 and would have to pay back this sum to the bank..

THE QUESTION IS ITS NOT MY FAULT AND THE BANKS HAVE ADMITTED THIS IN THIER LETTER OF RESPONSE BUT THEY ARE STILL ASKING FOR PAYMENT.. DO I HAVE TO PAY THEM BACK AS ITS NOT MY FAULT ????

I AM ON INCOME SUPPORT AND AM DISABLED AND ALLREADY HAVE THE CAB OFFICE DEALING WITH MY DEBT.

Hi there

OMG LLOYDS are totally incompetant:mad: .
As I said on other posts, it would not surprise me if they are one of those banks to be investigated further by the FSA, and maybe even fined, basically for the way they deal with complaints.

Give the FOS a call on this one, they should deal with this over the phone for you, explain your situation and of your current health issues etc, and ask if they can write to the bank on your behalf, tell them your not happy with the way your complaint have been handled and you again feel that you have been deprived of your money.

Due to this I would also request they compensate you redress for distress and inconvenience.
http://www.financial-ombudsman.org.uk/contact/index.html

Please do let us know how you get on, I'm sure the FOS will help you here on request.
Tell them your getting very distressed about this and if they would be able to write to them on your behalf.

Good luck.

di3004

markdsmith wrote: »

UPDATE ON MY CASe WITH GE MONEY:

quick reminder:

I sent letters to GE asking for copies of my agreement as I never received the cooling off letter from Cavendish Finance who sold me the loan. To cut a long story short (told earlier in this thread), there were monies added to the loan which GE state is NOT PPI but would not state what the charges were for. Asked for copies of documents, never received anything. Promised an investigation and that they would get back to me by 29th March. Nothing! Sent another 7 day letter, no response. Went to FOS who said they would look into it for me.

Today received a letter stating "In this case we regret to inform you that, having reviewed your loan agreement, we do not have jurisdiction to consider your complaint, as it relates to activity that is not regulated by the Consumer Credit Act 2006".

1st point, I do not have a copy of the loan agreement so how can they have reviewed my loan agreement?

2nd point, the loan was taken out in August 2007 so why is this not covered by the CCA?

3rd Point why has GE Money not answered me?

Help and advice please.

Hi Mark
Sorry to hear this.

This is a strange one and I'm baffled too!

Who is this letter from?
And where the heck did they have the details for them to know this?

I do hope someone will know what answers to give you on this one here but I am baffled.

I am wondering if they have made a stupid mistake here.