PPI Reclaiming Discussion part 4

di3004

Flamingo80 wrote: »

Hi guys, looking for a little bit of advice here.

5 years ago I took out a personal loan of £15000 to consolidate my now husband's debts, he had been left in a terrible financial state by an ex and it was the only way to reduce his interest payments.

I was sold PPI which, having looked back over paperwork, was £2800 originally and £3500 total repayable. I honestly cannot remember what was said about the PPI but they obviously mentioned it or I wouldn't have known. What worries me is that on the paperwork it says...

"As you will have received information, but no advice or recommendation from us about LoanCare Cover, if this cover does not meet your requirements, please contact us immediately."

Does this mean I can't claim? I cannot remember how it was put to me but I'm pretty sure I would have said no if I realised it was £3000 extra!

The loan was with Nationwide. I would love any advice you guys can give me.

Hi and welcome

You can still make a reclaim due to the reasons you have, so not to worry.

For more information, check the link below and follow the guidelines of reclaiming, complete the FOS questionnaire, keep a copy, this is instead of template letters, the questionnaires cover all grounds of reclaiming the PPI.
They have 8 weeks in full to respond.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Flamingo80

Also...

I need to check dates but at the time I took out the loan I was working as a supply teacher, so wouldn't have been eligible for sickness pay as I wasn't on a regular contract, does that count as mis-selling?

di3004

Flamingo80 wrote: »

Also...

I need to check dates but at the time I took out the loan I was working as a supply teacher, so wouldn't have been eligible for sickness pay as I wasn't on a regular contract, does that count as mis-selling?

Hi

I would check out the policy booklet details as they can vary the bank should supply these to you on request.

But you do have a good point if you was not full time, it maybe that it would not protect you if you were working for less that 16 hours per week etc, on the other hand with it being a contract and not regular again, good point.

You could contact the bank for dates.;)

Flamingo80

No, just checked, I was was working on a maternity cover so had a temporary contract for about 9 months.

Thanks Di, do I send the questionnaire to Nationwide head office?

di3004

Flamingo80 wrote: »

No, just checked, I was was working on a maternity cover so had a temporary contract for about 9 months.

Thanks Di, do I send the questionnaire to Nationwide head office?

You do seem to have a good case here.:T

Yes write to them and post by recorded delivery, if they have a separate complaints dept they will forward this on to that section.;)

Flamingo80

di3004 wrote: »

You do seem to have a good case here.:T

Do you think? Even though they say they wouldn't have persuaded me to take it out?

Just checked my payslips, I have them from that time as I'm a bit of a hoarder!! The policy document says I must have worked 16 hours a week for 6 months before start of loan. I started my contract in May and loan started in August - 4 months! Typically, I don't have any slips from before the May but I'm sure i was only on day-to-day supply.

di3004

Flamingo80 wrote: »

Do you think? Even though they say they wouldn't have persuaded me to take it out?

Just checked my payslips, I have them from that time as I'm a bit of a hoarder!! The policy document says I must have worked 16 hours a week for 6 months before start of loan. I started my contract in May and loan started in August - 4 months! Typically, I don't have any slips from before the May but I'm sure i was only on day-to-day supply.

They will try anything to fob off, but you must keep at them and never back down.

As you were not in a full time job, then the policy was therefore worthless to you.
Realistically they should uphold your complaint without any problems, you do have good reasons to go by.

discojam

di3004 wrote: »

Hi there

Whoever set this up for you in the beginning is the ones you pursue.

There is now a FOS Questionnaire, the financial ombudsman service (FOS) have recently issued these to complete to send to whom you are complaining to instead of template letters, although a letter is still fine, the questionnaire you will find further down the page on link below as Stage One.
Or you can contact the FOS to send you one, remember after completion to keep copies.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

In regards of the account number - the CCA number is fine.;)

Good luck and please keep us posted.:)

Hiya di,

Thanks for that, sorry meant to say I'll be sending the questionnaire - I've filled it out now and can take it to the post office, just not sure really how much of a case I've got. As the loan was taken out in 2003 and even though Im pretty sure they said I had to have the PPI to get the loan I've got no proof of it and cant rememeber the name of the person I spoke with, is it still worth trying? Just seems like my answers to the questions are a bit pants really!

di3004

discojam wrote: »

Hiya di,

Thanks for that, sorry meant to say I'll be sending the questionnaire - I've filled it out now and can take it to the post office, just not sure really how much of a case I've got. As the loan was taken out in 2003 and even though Im pretty sure they said I had to have the PPI to get the loan I've got no proof of it and cant rememeber the name of the person I spoke with, is it still worth trying? Just seems like my answers to the questions are a bit pants really!

Well done.
And yes its very much worth trying, many on here have been successful in reclaiming for ppi even from earlier years, settled or active accounts.

If you feel as if you want to give them further information, and does not give you the opportunity on the questionnaire, you can of course write a cover letter to enclose with the questionnaire - if you want to, but keep at them, you do have a good case here, and please keep us posted, good luck.:)

amersall

hi everyone. take a look at this and have your say
http://news.bbc.co.uk/1/hi/talking_point/8674876.stm