PPI Reclaiming Discussion part 4

amersall

hi there, keep at this one, let the fos know everything you have posted here, you should have the remaining ppi taken off your loan, the loan reset at the same term and apr without the ppi on that will lower your monthly payment,and you should get back the ppi with interest you have paid to date, go for it and good luck

amersall

DanDaniel wrote: »

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:

hi there, keep at this one, let the fos know everything you have posted here, you should have the remaining ppi taken off your loan, the loan reset at the same term and apr without the ppi on that will lower your monthly payment,and you should get back the ppi with interest you have paid to date, go for it and good luck

amersall

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.

if i were you i would ring the bank tell them you are on benefits and you can give them what ever you can a week, if they wont accept that ring fos, explain what has happened and they may be able to help you with this one.good luck

amersall

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 there, have you bank statements to show when the first payment was made? if you have this and can prove the year you took this out then you should get back in touch with them and if still no joy tell them you are going to fos and ask them to send you the agreement you asked for (and did not get) see what they say,if they say the same give fos a ring and ask there advice, as i said if you can prove through bank statements to the fos that this was 2007 then i think you have a good case, it amazes me the stalling tactics these companys use, they think you will now give up, please dont give up. this is your money and you want it back

amersall

this is disgusting!!!! afetr all this time and still people are getting fobbed off left right and centre, here we go again!! my message to all is "DO NOT GIVE UP" where theres a will theres a way, show them you mean business!! it is your money they "stole" from you GET IT BACK

antzd

antzd wrote: »

Hi guys,

Having read the main area on PPI's I wonder if anyone could advise me if i 'should' put in a claim.

I'll try to make it short !

Had a loan with PPI in 1998 ( £2000) , then another loan with the same company in 2000 (£5000) , this second loan paid off what was left on the first loan.

I was a self employed at the time and this is stated on the loan agreement for both, which i have.

I was at the time the loan was taken, and still am, a gardener/landscape gardener.

I still have the T & C's of the PPI policy and having looked again at them i think i may have been mis-sold the policy.

The points that concern me in the text are ;

UNEMPLOYED OR UNEMPLOYMENT :

TEMPORARY CESSATION OF TRADING OR PERIODS OF UNEMPLOYMENT DUE TO SHORTAGE OF WORK ARE NOT COVERED.

EVIDENCE OF CESSATATION MUST BE PROVIDED.

Being in my line of work this can and does happen at time's, so was the policy worthless?

EXCEPTIONS :

UNEMPLOYMENT WHICH REGULARLY OR NORMALLY OCCURS IN YOUR OCUPATION, OR WHICH ARISES AS A RESULT OF THE TERMINATION OF A FIXED-TERM, TEMPORARY OR SEASONAL CONTRACT,

Again, this has happened before with seasonal contracts and you can lose a contract at any time due to the client changing contractor or terminating your conract for other reasons.

This was some time ago, but could i make a claim ? i still have the paperwork and PPI document.

The loan was from Marks and Spencer, underwritten by Cornhill insurance, which one should i write to ?

Any advice would be great.

Ant.

Hi Again,

It's been a while but I finally got the 'reply' From M & S and need some help of what to do next ?

I will shorten the points of the letter, but basicly they are saying NO becuase ;

'When the policy was applied to the account during 2001 M&S Financial Services acted as an unregulated intermediary for the sale of the PPI as we were not a bank or a member of the GISC at the time of this sale. On this basis we reject your complaint taht this policy was mis-sold and willl not be offering a refund'

I belive it was Cornhill Insurance that were the underwriters of the PPI, do I go to them, or back to M&S ??

The other loan, they say was to long ago for them to locate any application to confirm if insurance was added, but i did send them a copy of the signed agreement with all the details of the PPI on it, did they lose it ? I bet they will come up with the same reason for not making a refund anyway though.

Any advice would be a great help, thanks in advance.

di3004

antzd wrote: »

Hi Again,

It's been a while but I finally got the 'reply' From M & S and need some help of what to do next ?

I will shorten the points of the letter, but basicly they are saying NO becuase ;

'When the policy was applied to the account during 2001 M&S Financial Services acted as an unregulated intermediary for the sale of the PPI as we were not a bank or a member of the GISC at the time of this sale. On this basis we reject your complaint taht this policy was mis-sold and willl not be offering a refund'

I belive it was Cornhill Insurance that were the underwriters of the PPI, do I go to them, or back to M&S ??

The other loan, they say was to long ago for them to locate any application to confirm if insurance was added, but i did send them a copy of the signed agreement with all the details of the PPI on it, did they lose it ? I bet they will come up with the same reason for not making a refund anyway though.

Any advice would be a great help, thanks in advance.

Hi there

Sorry to hear this, but its not the end of that yet.

Even though they were not members GISC prior to the FSA, lots of us have been caught in this trap, but the actual insurer of the lender would have been members, so where the FOS are unable to adjudicate complaints if they were not regulated, they have been suggesting to people to go the insurer direction instead.

So in your case, give the FOS a ring anyway, explain your situation, then if they do not mention anything about the insurer/underwriter mention it to them, tell them you hear that many are going this direction instead as another avenue to take to try to get your money back.

I have been in the same position as you and so have lots of others on here.

Anyway, for the insurer/underwriter details, you write to them the same way as you did with the broker etc, and if they say not then go to the FOS, as they will be able to investigate against the insurer.

The FOS are also trying to make the insurer responsible, due to the fact that when you are sold the finance, the insurer/underwriters check the details and must make sure your eligible before selling you the policy.

If you do not have the Insurer policy details, then write to the lender and they will or should provide them to you on request.

Do give the FOS a ring though if you can, I'm sure they will be able to advise.
Good luck.;)
http://www.financial-ombudsman.org.uk/contact/index.html

Please let us know how you get on, cheers.

Oh sorry, missed that bit, how long ago was the other loan taken out?

If longer than 6 years, they may not hold the details, again this will also depend on how long ago this was settled, if settled within the last few years they should hold something.

However, is you have the account number, just go for it, you never know they may even send you details of your loan with a response letter.

amersall

antzd wrote: »

Hi Again,

It's been a while but I finally got the 'reply' From M & S and need some help of what to do next ?

I will shorten the points of the letter, but basicly they are saying NO becuase ;

'When the policy was applied to the account during 2001 M&S Financial Services acted as an unregulated intermediary for the sale of the PPI as we were not a bank or a member of the GISC at the time of this sale. On this basis we reject your complaint taht this policy was mis-sold and willl not be offering a refund'

I belive it was Cornhill Insurance that were the underwriters of the PPI, do I go to them, or back to M&S ??

The other loan, they say was to long ago for them to locate any application to confirm if insurance was added, but i did send them a copy of the signed agreement with all the details of the PPI on it, did they lose it ? I bet they will come up with the same reason for not making a refund anyway though.

Any advice would be a great help, thanks in advance.

hi there, with regards to loan refused mis sell, i believe you go after the insurer, di knows about this and i am sure she will give you more info, as for the loan you sent the agreement in for i would not let this drop, if you get a no back ring fos and ask for their help with this one, i won a loan from the 90s so dont give up, in your favour you have the agreement so good luck, hope this helps

amersall

di3004 wrote: »

Hi there

Sorry to hear this, but its not the end of that yet.

Even though they were not members GISC prior to the FSA, lots of us have been caught in this trap, but the actual insurer of the lender would have been members, so where the FOS are unable to adjudicate complaints if they were not regulated, they have been suggesting to people to go the insurer direction instead.

So in your case, give the FOS a ring anyway, explain your situation, then if they do not mention anything about the insurer/underwriter mention it to them, tell them you hear that many are going this direction instead as another avenue to take to try to get your money back.

I have been in the same position as you and so have lots of others on here.

Anyway, for the insurer/underwriter details, you write to them the same way as you did with the broker etc, and if they say not then go to the FOS, as they will be able to investigate against the insurer.

The FOS are also trying to make the insurer responsible, due to the fact that when you are sold the finance, the insurer/underwriters check the details and must make sure your eligible before selling you the policy.

If you do not have the Insurer policy details, then write to the lender and they will or should provide them to you on request.

Do give the FOS a ring though if you can, I'm sure they will be able to advise.
Good luck.;)
http://www.financial-ombudsman.org.uk/contact/index.html

Please let us know how you get on, cheers.

hi di:Aknew you would come up trumps:D yet again, bless you:cool:

di3004

amersall wrote: »

hi di:Aknew you would come up trumps:D yet again, bless you:cool:

LOL, you too.........cheers.:A