PPI Reclaiming Discussion part 4

amersall

di3004 wrote: »

Hi there

First of all I would contact the Financial ombudsman service (FOS) to have this confirmed with them direct in regards of the insurer.

However, the FOS are suggesting the insurer direction is all other avenues have been exhausted.

What you then do is write to the lender for the Insurance policy details, ask that they supply by 7-14 days.

Sometimes these insurance policy documents have to be requested for separarately and not included in the loan documents from when you taken them out.

You then write to the insurer the way you had done with the broker and if they come back and say no, the FOS should be able to investigate as these would have been regulated by FSA or prior to these GISC.

The FOS are trying to make the insurer/underwriter repsonsible as well, as they do have part responsibility when this was sold to you, and give the ho ahead on the insurance before the loan is approved.

So give the FOS a ring to have this confirmed and take it from there.;)

Good luck.

cheers di :A:A knew you would come up trumps again :T:T

di3004

amersall wrote: »

cheers di :A:A knew you would come up trumps again :T:T

LOL, not a problem hun.:D:A:beer:XX

di3004

buffbuff wrote: »

Hi, i finaly got my ppi refund yesterday(£800) after a few months of sending my first letter, they put the refund straight into my current acount and and they ajusted my loan amount (£125 taken off the loan) so it was like i didnt have the ppi, my loan went down to about £500 when i checked my balance yesterday.

But today i got up to check my balance and now the loan says i owe them £1300, they gave me a ppi refund of £800 into my current account but put £800 onto my loan !!!!. this cant be right.

does anyone know what there doing ?

Id ring them but there not open on saturday's

Thanks

Hi there

Have you still got the letter from them confirming on how they were refunding this to you?

I would take copies of your statements and enclose them within a letter, and give them 7 days to explain what they have done.

If they don't resolve this, then write to complain by giving them the usual 8 weeks, and if still not resolved, complain to the FOS.

Fingers crossed.

cagneuk

Hi,

I've eventually heard from loans.co.uk, talk about leaving it til the last day.

The letter arrived this morning:

Dear sir,

thank you for your letter regarding the PPI policy applied to your secured loan.

Firsty, I would like to say how sorry I am that you are dissatisfied with the service you have recieved from loans.co.uk. We pride ourselves on the level of service that we provide to our clients and with this in mind, the issues that you have raised are taken extremely seriously.

Having reviews your file and completed our investigations, loans.co.uk have ome to the conclusion that you were mis-sold your ppi policy and as a result we will be upholding your complaint.

To ensure that we make the correct level of payment to settle your complaint, we require additional time to contact the lender and validate the amounts payable to you and/or your account. Please alow us time to do this and be assured that the refund will be made as soon as we are in reciept of the infomation from your lender.

In addition, please contact first national to cancel the ppi if it is still live on your loan.

I will contact you again in due course to confirm the amount to be refunded.

I confirm that thisis our final response on the matter. If you are dissatisfied with this final response, you may refer your complaint to the financial ombudsman service, within six months of the date of this final response letter. Their adress is:.......

I have enclosed a copy of the FOS service booklet for your info.

Yours


SO, does this mean I will get my money back, all or part? and if so does anyone know how long it can take before I need to chase it up if I've not heard.

Thanks in advance and thanks so much for the advice you have already given me to help me get this far.

di3004

cagneuk wrote: »

Hi,

I've eventually heard from loans.co.uk, talk about leaving it til the last day.

The letter arrived this morning:

Dear sir,

thank you for your letter regarding the PPI policy applied to your secured loan.

Firsty, I would like to say how sorry I am that you are dissatisfied with the service you have recieved from loans.co.uk. We pride ourselves on the level of service that we provide to our clients and with this in mind, the issues that you have raised are taken extremely seriously.

Having reviews your file and completed our investigations, loans.co.uk have ome to the conclusion that you were mis-sold your ppi policy and as a result we will be upholding your complaint.

To ensure that we make the correct level of payment to settle your complaint, we require additional time to contact the lender and validate the amounts payable to you and/or your account. Please alow us time to do this and be assured that the refund will be made as soon as we are in reciept of the infomation from your lender.

In addition, please contact first national to cancel the ppi if it is still live on your loan.

I will contact you again in due course to confirm the amount to be refunded.

I confirm that thisis our final response on the matter. If you are dissatisfied with this final response, you may refer your complaint to the financial ombudsman service, within six months of the date of this final response letter. Their adress is:.......

I have enclosed a copy of the FOS service booklet for your info.

Yours


SO, does this mean I will get my money back, all or part? and if so does anyone know how long it can take before I need to chase it up if I've not heard.

Thanks in advance and thanks so much for the advice you have already given me to help me get this far.

Hi there

Well done and Congratulations!:beer:

For them to uphold it means they have agreed with your complaint and you should receive all you paid in PPI, interest, also 8% interest of what a court would award for being deprived of your money - unlike an offer where they do not always offer the extra interest.

You could ring them to ease your mind on this or write a quick letter for them to confirm this, and ask when you should be receiving your refund, some take about a month after.

I would therefore get on to cancelling the PPI with the lender if you have not done so yet in writing, from there then I assume they would get on with paying your refund to you.:beer:

cagneuk

thanks di,

the ppi completion letter was what started my query in the first place.
I took the secured loan in 2004 and it was mis-sold as a single policy within there (ppi was for first 5 years of secured loan). The loan however was paid off in 2005 and as part of that total payment (unknown to me was the remainder of the entire ppi).
I recieved a letter from the insurance company a couple of months ago saying thank you for last 5 years worth of custom, which is what made me think !!!!!!! hence the whole process being started. So I don't need to cancel anything now just sit back and wait.
I'll give them a month the chase it up if not heard.

di3004

cagneuk wrote: »

thanks di,

the ppi completion letter was what started my query in the first place.
I took the secured loan in 2004 and it was mis-sold as a single policy within there (ppi was for first 5 years of secured loan). The loan however was paid off in 2005 and as part of that total payment (unknown to me was the remainder of the entire ppi).
I recieved a letter from the insurance company a couple of months ago saying thank you for last 5 years worth of custom, which is what made me think !!!!!!! hence the whole process being started. So I don't need to cancel anything now just sit back and wait.
I'll give them a month the chase it up if not heard.

Hi and your welcome.

Lovely, should all be straight forward for them to deal with then.:)

BigCraigJohn

Evening all.
Just after a few opinions really regarding an MBNA which i'm about to try and reclaim.
In simple terms when I applied for the card I applied for no ppi as I didnt really want it, the agreement shows no ppi and there is no after agreement. I was called up a few weeks after and had some real pushy woman who wouldnt take no for an answer, she persuaded me that I needed ppi which I didnt really want but you know the way. Was 1 of these where they tell you they have to play the recording at the end which is obviously them getting there own back. What I want to know is, is a verbal agreement enforceable in regards to a ppi sale?, I mean I do know a bit about audio and phone bit rate is low. Weve all been in those positions where you start chatting and realise its the wrong person.
Personally i'd think they need a written agreement but can anyone confirm this?

amersall

BigCraigJohn wrote: »

Evening all.
Just after a few opinions really regarding an MBNA which i'm about to try and reclaim.
In simple terms when I applied for the card I applied for no ppi as I didnt really want it, the agreement shows no ppi and there is no after agreement. I was called up a few weeks after and had some real pushy woman who wouldnt take no for an answer, she persuaded me that I needed ppi which I didnt really want but you know the way. Was 1 of these where they tell you they have to play the recording at the end which is obviously them getting there own back. What I want to know is, is a verbal agreement enforceable in regards to a ppi sale?, I mean I do know a bit about audio and phone bit rate is low. Weve all been in those positions where you start chatting and realise its the wrong person.
Personally i'd think they need a written agreement but can anyone confirm this?

hi there, not sure i understand what you mean, if you have a written agreement with no ppi but the pushy woman put it on and you have been paying ppi,then you have a case for mis sell i would have thought sorry if i have read it wrong

BigCraigJohn

amersall wrote: »

hi there, not sure i understand what you mean, if you have a written agreement with no ppi but the pushy woman put it on and you have been paying ppi,then you have a case for mis sell i would have thought sorry if i have read it wrong

Thats about right.
I think I applied for the card on the phone, didnt want ppi which is shown on the application entry sheet from the sar, says "ppc sale: no".
Then a woman called a few weeks later and "blagged" me to have it. 1 of those calls where you sort of give in and accept to get off the line(was a long time ago, I wouldnt stand for it now)
I was just wondering if there should be a written agreement for the ppi?.
How could they possibly prove it was sold fairly otherwise?

I will try and reclaim anyway as I do remember she was very charming but also pushy, its just something I was curious about which may add a bit of weight in the fact there was never anything signed to say I had agreed to the insurance .