PPI Reclaiming Discussion part 4

Thebiker

Hello all,

This is my first post, so first of all, Thank you Martin Lewis for this great site and wealth of information.

I have been subscribed to the newsletters for a while now and today I read the part about reclaiming PPI, I was immediately interested and came to read the thread, after reading the thread I started looking into my own case and going through all my old paperwork, of which I keep everything and now am very glad I did.

I had 5 loans between 2003 - 2005 and all had PPI, after looking through my paperwork, it seems that all but one of these were mis-sold to me, because I was either in temporary work or had not been in full time employment for 6 months, so they were invalid rite?.

Statements from certificate of insurance:

You must have been in work for 16 hours or more per week for at least 6 months at the time of your claim.

After temporary work, unless you are in a claim situation as described above.

Here are my loan+PPI dates and state of employment at the time.

1st PPI = 137.38 date of loan 23\04\2003 In temporary agency work
2nd PPI = 355.37 date of loan 28\07\2003 In temporary agency work
3rd PPI = 341.84 date of loan 08\12\2003 In full time work since 09\09\03 till 18\02\05
4th PPI = 1045.22 date of loan 16\04\2004 In full time work since 09\09\03 till 18\02\05
5th PPI = 1378.32 date of loan 29\03\2005 In full time work since 28\02\05 till 07\03\05

Total PPI cost = 3238.13

After the last Loan+PPI I had taken out, I ended up quitting my job due to stress and depression, which has been a long standing issue for many years. After I quit I had a look at the certificate of insurance and realised I wasn't covered, I ended up defaulting on the loan as I couldn't make the payments.

So I would like to know, even though I defaulted on the last loan and all but one were longer than 6 years ago, would I still be in a position to try and make a claim on any or all of these, These were taken out with The Cooperative Bank.

Thanks

di3004

Geoffro wrote: »

Hello, I took out a loan with Natwest back in 2001/2002. I recently read your article about reclaiming PPI if missold so I used your first template and have received an acknowledgement letter and one telling me it may take longer than a month to fully investigate my case. I know I was told over the phone that I had to take out the PPI policy to get the loan but was wondering if word of mouth would be sufficient if I had to go to the FOS. I fully intend to go there anyway regardless but was just wondering as its down to my word against theirs at the end of the day.

Hi and welcome

Keep at them.

Some will request for further time, hopefully you will receive a good result out of this to come, fingers crossed, please leep us posted.

Cheers.:beer:

di3004

Thebiker wrote: »

Hello all,

This is my first post, so first of all, Thank you Martin Lewis for this great site and wealth of information.

I have been subscribed to the newsletters for a while now and today I read the part about reclaiming PPI, I was immediately interested and came to read the thread, after reading the thread I started looking into my own case and going through all my old paperwork, of which I keep everything and now am very glad I did.

I had 5 loans between 2003 - 2005 and all had PPI, after looking through my paperwork, it seems that all but one of these were mis-sold to me, because I was either in temporary work or had not been in full time employment for 6 months, so they were invalid rite?.

Statements from certificate of insurance:

Here are my loan+PPI dates and state of employment at the time.

1st PPI = 137.38 date of loan 23\04\2003 In temporary agency work
2nd PPI = 355.37 date of loan 28\07\2003 In temporary agency work
3rd PPI = 341.84 date of loan 08\12\2003 In full time work since 09\09\03 till 18\02\05
4th PPI = 1045.22 date of loan 16\04\2004 In full time work since 09\09\03 till 18\02\05
5th PPI = 1378.32 date of loan 29\03\2005 In full time work since 28\02\05 till 07\03\05

Total PPI cost = 3238.13

After the last Loan+PPI I had taken out, I ended up quitting my job due to stress and depression, which has been a long standing issue for many years. After I quit I had a look at the certificate of insurance and realised I wasn't covered, I ended up defaulting on the loan as I couldn't make the payments.

So I would like to know, even though I defaulted on the last loan and all but one were longer than 6 years ago, would I still be in a position to try and make a claim on any or all of these, These were taken out with The Cooperative Bank.

Thanks

Hi and welcome

The answer is yes, so go for it.

So for each one complete a FOS questionnaire, shown on link below further down the page "stage one"
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

The questionnaires is instead of template letters, but you can write your own cover letter if you want to to enclose with the questionnaire.

You pursue to whom set up the finance from the start.

In my opinion you have a great case, so well worth reclaiming on the reasons you do have, they have 8 weeks to respond in full and post within the post office for proof of delivery.

The questionnaires are quite new and issued by the financial ombudsman service (FOS), keep copies once completed, in case you need to refer to them later on.

Hope this helps and the very best of luck, please also let us know how you get on, cheers.:)

Thebiker

Thanks for your quick reply.

As far as I can tell the finance was all set up with the cooperative bank, their doesn't seem to be any 3rd party involved, so I would send the completed questioner to them, do I need to send a copy to FOS aswell, or would that be for a later stage?

When you say post it at the post office so I have proof of sending it, do you mean I have to send it recorded delivery, or would they just give me some kind of receipt anyway?

Geoffro

Thanks for your quick reply. In your experience is word of mouth sufficient, as I would assume it would have to be documented somewhere that this is what has been said?

di3004

Thebiker wrote: »

Thanks for your quick reply.

As far as I can tell the finance was all set up with the cooperative bank, their doesn't seem to be any 3rd party involved, so I would send the completed questioner to them, do I need to send a copy to FOS aswell, or would that be for a later stage?

When you say post it at the post office so I have proof of sending it, do you mean I have to send it recorded delivery, or would they just give me some kind of receipt anyway?

Hi there

You therefore pursue to the Co op bank then if no other broker etc were used.

You only need to send this complaint/questionnaire to the bank, but keep a copy in case you end up referring it to the FOS, for instance if the bank does not agree with your decision by the time they give a final decision on your complaint.

Yes recorded delivery is the best option.

Good luck with this.;)

di3004

Geoffro wrote: »

Thanks for your quick reply. In your experience is word of mouth sufficient, as I would assume it would have to be documented somewhere that this is what has been said?

It will normally a case of your word against their, but your complaint must be taken seriously.
You will be okay.

Also if you do require any documentation, there is a Subject Access Request (SAR) you can request if you want to, where they have 40 calender days to comply and send all they hold on your Account(s), there is a cost of £10 for this request by either cheque or postal order payment you enclose with the SAR letter.
https://forums.moneysavingexpert.com/discussion/1475553
So everything discussed, and even transcripts of phone calls should be enclosed with this request.:)

faith1706

di3004 wrote: »

Hello there

Going through the success thread - although its a very long one, most are successful, and I do expect all the above you stated many have been successful and will post up with their own experience for you.

For whatever reasons you have for being mis sold, then complete the Questionnaire (this is no instead of template letters), the financial ombudsman service (FOS) have recently issued these questionnaires and you will come across them further down the page as Stage one of reclaiming.
Complete and keep copies.

They have 8 weeks in full to respond with a decision.

Keep at them if you have to and post within the post office for proof of delivery.

You actually send each questionnaire to whoever set up the finance up for you from the start.
You have quite some reclaiming to do then?;) lol.

Good luck and please keep us posted, cheers.

Di

Thank you so much for the advice will get all letters sent out & questionnaire sent out in the next couple of days (recorded!) so fingers crossed, will keep posted & thanks again

di3004

faith1706 wrote: »

Thank you so much for the advice will get all letters sent out & questionnaire sent out in the next couple of days (recorded!) so fingers crossed, will keep posted & thanks again

Your very welcome, and go for it, we look forward tp hearing the outcome.
Cheers.:D;):j

Thebiker

di3004 wrote: »

Hi there

You therefore pursue to the Co op bank then if no other broker etc were used.

You only need to send this complaint/questionnaire to the bank, but keep a copy in case you end up referring it to the FOS, for instance if the bank does not agree with your decision by the time they give a final decision on your complaint.

Yes recorded delivery is the best option.

Good luck with this.;)

Hello Di,

Thanks again for the response, I have just finished filling out the questioners and no, I haven't been working on it all this time since my last post, I have had a couple of brews in between:laugh:

I need to wait until Friday, when I can get some ink to print them off and as soon as I have they will be in the post, recorded and then I will see where it goes. I will definitely keep you informed and hopefully I will have something to celebrate:beer:

Good luck to everyone else aswell.