PPI Reclaiming Discussion part 4

di3004

wacky6 wrote: »

Hi does anyone know the answer to this, my credit card was with Alliance and leciester which was taken over by MBNA. I have PPI on this card so do I write to MBNA (if so does anyone know the address or A&L of which I have the address?
Also how helpfull have this companies been in paying back PPI?

Hello there

I would still write ot the ones who set up your policy, it will or should still be sent to the complaints dept.

ALLIANCE & LEICESTER PLC
CARLTON PARK
NARBOROUGH
LEICESTER
LE19 0AL


Alison Riley
Customer Services Manager
Alliance & Leicester PLC
BOOTLE
Merseyside
GIR OAA

Hopefully someone will confirm which one for you.

Ask for any help if required, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

di3004

Ian4 wrote: »

Hi Di3004,
Hi Ian

In reference to my earlier post, I received the response today from Lloyds, I'll type out the letter below:

"Thank you for contacting me about your concern regarding you Credit Card Payment Protection Insurance Policy". I have carried out a detailed review of your complaint so that I can issue a final decision letter in which a full explanation is provided.
It is important for me to inform you, that my decision has been made on behalf of Lloyds TSB Bank PLC.
The usual letter then.

You have stated that you would like us to refund all of the Payment Protection Insurance premiums charged to your account because you feel you were mis-sold this insurance. If we have misunderstood your complaint please let us know.

Your Concern:
You have stated you were mis told the Payment Protection Insurance Policy was necessary for cover for illness but you were not asked questions regarding your exisiting employer benefits and cover.

My Findings:
The Payment Protection Insurance cover was sold before the Financial Services Authortiy Insurance Conduct of Business Rules started to apply on 14 January 2005. Until then it was not a specific requirement to discuss exisiting insurance arrangements. The prevailing process covering Lloyds TSB at the time the PPC was sold, required our advisors to probe customers financial circumstances, ascertaining how they would cope financially in the event of accident/sickness/unemployment/death to cover their commitments.
If you had received benefits from other sources such as employer benefits, income protection or any other forms of income, it would not have affected your ability to make a claim under this policy. I also believe it is reasonable to assume that had you held any such similar benefits then you would have raised this with us at the time.
They were members of GISC prior to the FSA taken over. (General Standards insurance council), so the FOS are still able to investigate these complaints, but they are trying to say this was then on a non advised basis.
In my opinion, advised or non advised, they should have still checked with you to see if you wanted to take this out or not, not just automatically add it to your finance.


Your Concern:
You have stated you were not aware the Payment Protection Insurance policy was optional.

My Findings:
Lloyds TSB as a matter of practice does not make the purchase of insurance compulsory in order to receive a credit card. Your application for a credit card would not be compromised by the absence of cover.
Lloyds TSB through its processes, practices and documents took steps to ensure you were fully aware of the optional nature of the cover.
In addition to the information provided in the branch, the payment protection cover policy document which you would have received in the post subsequent to your purchase:
1. Made it clear that the policy was optional.
2. Set out the benefits available under the policy and how they would change during the period of cover.
3. Listed all significant or unusual exclusions or limitations of the policy.
4. Set out your rights to cancel the policy within the cooling off period (with refund of premium paid).
5. Gave information on how to cancel the policy at any point after the cooling off period (no refund of premium paid to date).
I'm sure this is a template letter they use, they all look the same, it makes me think if they did actually take time to investigate your complaint, as you are aware the FSA are punishing banks for rejecting genuine complaints and for not investigating them properly, did you let them know you were aware of this?

We have issued our final response, but please be aware that as we have not received your completed FOS questionnaire, this has been based in the information you have provided to date. Should you wish to escalate this complaint to the FOS, they may require you to complete their FOS questionnaire.
If you have already asked them to look at you case again, then I would now move on to the FOS, but otherwise tell them the above, tell them you don't believe it was sold in your best interest, and of the FSA etc, and ask them to re-look into your complaint (also send them the questionnaire (FOS) and state if you hear nothing by 14 days, you will then move on to the FOS with your evidence to support your case.
Otherwise complete the FOS questionnaire anyway, and the FOS complaints form and complain to the FOS.
Remember to enclose copies of any correspondence you have.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

The FOS questionnaire, you will find on the above link, further down the page as stage one, keep copies for yourself too.

And the FOS complaints form on the FOS site here:

http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Decision:
Having reviewed your details, I have found no evidence to show that you were ineligible for the cover, or that it was unsuitable for you, based on your cirumstances. I do not, therefore, feel that there are any grounds to refund the premiums you have paid.

I am sorry that my decision was not more favourable to your complaint. I have made this decision based on all the information available. Should you have further evidence to support your case that you believe should be considered please contact me to discuss this further. If the new evidence available could influence my decision then your case may be reviewed again.
Looks like they will consider looking at your case again, so anything you have to add, also the questionnaire,send them in.

You should be aware that this is our final response and as such your complaint will now be closed. However should you wish for the FOS to independently review your complaint, you must refer the matter to them within six months of the date of this letter, after which date your right to refer the complaint to FOS will have expired."


Any thoughts?

Thanks again for your help

Ian

Ian, Lloyds are sometimes known to change the final decision, so you could do this by giving them say 14 days, then if you hear nothing, then move on to the FOS.

You could tell them you believe your complaint have been overlooked, because if you had known about the policy being optional, you would not have opted to take it on, due to the fact of already being covered by your employer, tell them it have put you out of pocket and you now believe you have been deprived of your money.

Hope they turn the decision round for you, but if not then do complain to the FOS.

Good luck, please keep us posted. Cheers.

Di

di3004

CherryPie wrote: »

Afternoon!

Can anyone tell me what address do I send correspondance to for MBNA. It's a long story but it's to do with a claim and they're trying to tell me I'm not covered. So I'd like a copy of my original application and PPI policy.

I've got the letters ready to go but not sure where to send them.

Thanks in advance

:beer:

Hi CherryPie

The only address I could find was the one on the address thread, but hopefully someone who have dealt with them will clarify on this for you, good luck with this.

MBNA Head Office:
M B N A Europe Bank Ltd,
Stansfield House,
Chester Business Park,
Chester,
Cheshire,
CH4 9QQ


:beer:

Di
X

BigDave01

Received my loan agreement back of Hfc bank today and the ppi box is pre-ticked on yes. Also feel I didn't need this ppi as get covered by 12 months work sickness full pay and a good redundancy package. My monthly PPI was 16% on £143.73 making a total of £166.73 per repayment 84 in total, I paid this off after 44 repayments. About to start a reclaim, can anyone help me out with how much I should be looking to reclaim.

Thanks in advance

Caroline1964

I received my refund after using the free template guides on Martin Lewis's gmtv page.. £3,700 refunded.. Now want to know if I can get the bank to reduce the credit card bill it was sold on and claim compensation?:money:

Caroline1964

BigDave01 wrote: »

Received my loan agreement back of Hfc bank today and the ppi box is pre-ticked on yes. Also feel I didn't need this ppi as get covered by 12 months work sickness full pay and a good redundancy package. My monthly PPI was 16% on £143.73 making a total of £166.73 per repayment 84 in total, I paid this off after 44 repayments. About to start a reclaim, can anyone help me out with how much I should be looking to reclaim.

Thanks in advance

Hi, That's what happened to me, I asked the bank for statements going back to the day when I took out my agreement (get the template of Martin Lewis's website) a bit drawn out but when you receive individual statements it will notify you on the paper when your ppi was charged each month.. I just added them all up and actually calculated lower than what the bank paid out! follow the templates, they are great!! hope that helped?:money:

amersall

robbedofmymoney wrote: »

you lot are terrible,
if i found room in my suitcase the wife would struggle to carry it!!:rotfl:
only joking,

the case will be full of golf clubs :beer:

tut tut tut Shame on you Have a good holiday

di3004

BigDave01 wrote: »

Received my loan agreement back of Hfc bank today and the ppi box is pre-ticked on yes. Also feel I didn't need this ppi as get covered by 12 months work sickness full pay and a good redundancy package. My monthly PPI was 16% on £143.73 making a total of £166.73 per repayment 84 in total, I paid this off after 44 repayments. About to start a reclaim, can anyone help me out with how much I should be looking to reclaim.

Thanks in advance

Hi BigDave

I'm sure someone will be along to check them through for you at some point soon.
Otherwise there is a thread posted below that was posted today on how to work out these calcs - if you would like to have a go.;)
https://forums.moneysavingexpert.com/discussion/2697331

To make a reclaim, you complete the FOS questionnaire, this is in replacement of the first template letter on this site, the financial ombudsman service recently issued these for the purpose for us to complete and to send to whoever is responsible for setting up and selling the policy.
Remember to keep copies for yourself as well in case you need to refer to it later on.
You will find the questionnaire on the link below further down the page as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

They have 8 weeks in full to respond, they may ask for more time and give you a timescale of when you should hear of a decision.
Also try to post by recorded delivery as this is your proof of posting.

If you want to do a letter, you can do so, but best in your own writing, or you may want to write a cover letter to enclose with the FOS questionnaire, its up to you.

Good luck, please keep us posted.;)

Flamingo80

Flamingo80 wrote: »

Nothing yet :whistle:

I'll give 'em the benefit of the doubt until the end of the week, what should I do then? Follow-up letter?

I take back the afore-mentioned complaint!! lol

Letter arrived today. They say they agree the information provided to me was not adequate for me to make an informed decision about PPI and are paying me £2497 plus 8% interest. :T

So chuffed!! all for the cost of one recorded delivery letter. If anyone is reading this thread and considering reclaiming ~ do it, do it, do it!!

Thanks everyone for your advice and help, keep up the good work!! :T

di3004

Flamingo80 wrote: »

I take back the afore-mentioned complaint!! lol

Letter arrived today. They say they agree the information provided to me was not adequate for me to make an informed decision about PPI and are paying me £2497 plus 8% interest. :T

So chuffed!! all for the cost of one recorded delivery letter. If anyone is reading this thread and considering reclaiming ~ do it, do it, do it!!

Thanks everyone for your advice and help, keep up the good work!! :T

Wow, that's a turn up for the books, well done and Congratulations!
:T:beer::j