PPI Reclaiming Discussion part 4

Munichjoolz

di3004 wrote: »

Good one joolz.:T

And you never know, you could still be successful first time round, but not to worry otherwise cos we will get there in the end.;)

Fingers crossed and the best of luck, we will look out for your posts.:)

Di
X

Thanks for the much needed support Di - I hope it won't be too long. While I'm on a roll I'm going to do the GE Capital one today as well! I have less information for this one as the date is cut off the bottom of the agreement so I can't say where I was employed at the time and apart from a few statements all other information was lost due to 'transfer failure'.

HOWEVER this one was a store card sold by a sales assistant during a sale in a clothes shop and with a discount incentive on offer if I signed up immediately, so I think this will be pretty straightforward. The places to sign were indicated with a cross and although I did sign in the PPI acceptance box I can't imagine that any advice could have been given as to whether or not this was suitable for me.

Also for this one I asked if the premiums could be stopped in 2001 as a way to bring my payments down as I was in difficulty but I was told by the call centre that it was compulsory - the interest was frozen for some months though. Finally in 2005 I received a leaflet telling me it was now possible to cancel the insurance and so I did. Will this go in my favour or against it? I don't know. x

di3004

Munichjoolz wrote: »

Thanks for the much needed support Di - I hope it won't be too long. While I'm on a roll I'm going to do the GE Capital one today as well! I have less information for this one as the date is cut off the bottom of the agreement so I can't say where I was employed at the time and apart from a few statements all other information was lost due to 'transfer failure'.

HOWEVER this one was a store card sold by a sales assistant during a sale in a clothes shop and with a discount incentive on offer if I signed up immediately, so I think this will be pretty straightforward. The places to sign were indicated with a cross and although I did sign in the PPI acceptance box I can't imagine that any advice could have been given as to whether or not this was suitable for me.

Also for this one I asked if the premiums could be stopped in 2001 as a way to bring my payments down as I was in difficulty but I was told by the call centre that it was compulsory - the interest was frozen for some months though. Finally in 2005 I received a leaflet telling me it was now possible to cancel the insurance and so I did. Will this go in my favour or against it? I don't know. x

Hiya

And your welcome.;)

My son's was straight forward in regards of GE money, when he was 17 he was sold insurance with a store card in Burtons, he was still a student and of course with just being 17 as well he would not have been protected.

I think you will be okay, so I would not worry, it should hopefully go in your favour and not against you.
However, you should have been entitled to cancel at any time, not just when they said.
If they had cancelled when you asked, because this have obviously added to the debt and due to this you have been out of pocket.

You should be okay here.:)

Fingers crossed.

Di
X

dani_79

Hi everyone, am just after a little advice regarding Credit card Insurance tha was taken out with Lloyds tsb. I have written to them making my complaint, they wrote back asking for more time, my reasons for the complain were that I was never informed the insurance was optional t the meeting, I never recall recieving any info re my insurance afer taking out the credit card . I was not advsed that lloyds tsb were not the only company and that I was not obliged to take insurance with them. I recieved a letter back from LLoyds denying anywrong doing and advising me to go to the Ombudsman. I was surprised as I have complained to LLoyds about the misselling of Loan insurance for exactly the same reason and this was upheld. I am now a bit worried as to whether to send a letter to the ombudsman about this? What are the chances of success with credit card insurance? I would like to add I have cancelled the card insurance and did this a few years ago as soon as i realised the optional nature, thanks in anticipation

redgie

Hi all:wave:
I would like to claim back the PPI I was missold on a joint (with my DH) nationwide loan. The PPI only covered myself.

We repaid the loan, and I have since destroyed all of the paperwork as it was no longer needed, so I don't have a record of the loan account number
Can I still pursue a claim without the loan number?

TIA

di3004

dani_79 wrote: »

Hi everyone, am just after a little advice regarding Credit card Insurance tha was taken out with Lloyds tsb. I have written to them making my complaint, they wrote back asking for more time, my reasons for the complain were that I was never informed the insurance was optional t the meeting, I never recall recieving any info re my insurance afer taking out the credit card . I was not advsed that lloyds tsb were not the only company and that I was not obliged to take insurance with them. I recieved a letter back from LLoyds denying anywrong doing and advising me to go to the Ombudsman. I was surprised as I have complained to LLoyds about the misselling of Loan insurance for exactly the same reason and this was upheld. I am now a bit worried as to whether to send a letter to the ombudsman about this? What are the chances of success with credit card insurance? I would like to add I have cancelled the card insurance and did this a few years ago as soon as i realised the optional nature, thanks in anticipation

Hi there

In my opinion lloyds have done this to lots on here, upheld on loan ppi and not the credit card ppi, but do not back down.

Sometimes they have been known to even change a final decision, its up to you but maybe in your case I would write something like...

Dear

Thank you for your letter dated XX/XX/XXXX in regards of my complaint via Credit Card Payment Protection Insurance - Account number XXXXXXXXXX.

I understand that you have now giving me the opportunity to take my complaint to the Financial ombudsman service (FOS), but I am requesting you reconsider this complaint - because I do not believe it have been investigated properly, and possibly overlooked.

This is due to the fact that you previously upheld on a loan PPI account for the same reasons I have for this complaint, and I would like to mention that the FSA are punishing banks for rejecting genuine complaints and for not investigating them properly, so I am giving you the opportunity to reconsider and if you can contact me by 14 days with your decision with hopefully an overturned decision in my favour - due to my reasons that are truly genuine and I stand my ground on these reasons.
Its possible you may have missed my points, but I will appreciate it if you will reconsider, thank you.

If I do not hear by 14 days of you receiving my letter (posted by signed for recorded delivery), I will then take this matter further via the FOS or small claims court.



Yours sincerely



Something like the above will be okay, but otherwise complain to the FOS now if you want to.;)

Hope this helps, good luck.

Di

di3004

redgie wrote: »

Hi all:wave:
I would like to claim back the PPI I was missold on a joint (with my DH) nationwide loan. The PPI only covered myself.

We repaid the loan, and I have since destroyed all of the paperwork as it was no longer needed, so I don't have a record of the loan account number
Can I still pursue a claim without the loan number?

TIA

Hi there

How old is this loan (year)?

What you could do is check any old banking statements for the account number.

For instance if your still with the same bank now where you used to pay for the loan repayments, the account number of that loan would be shown next to the monthly repayments.

If you do online banking then this should allow you to go back I think up to 7 years or so on most.

If you then require the paperwork, you can then request a Subject Access Request (SAR).
They have 40 calendar days to comply and send all the data they still hold on your account.
They mostly go back the last 6 years, some even longer are held.

For the SAR you enclose £10 cheque or postal order.
There is a SAR letter template here:
https://forums.moneysavingexpert.com/discussion/1475553

I would also post by signed/recorded delivery for your proof of posting.

Then more on reclaiming on link here;
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

When your ready though, give us a yell for help if required.

Good luck.:)

Ian4

Morning Di,

I emailed the CEO (Eric Daniels) of Lloyds TSB on Thursday 02 Sept and posted 2 letters this morning in response to the letter I received declining my complaint- I sent a letter to Lloyds Customer Care Dept and one to Eric Daniels. The letter is copied below:


"I am writing in response to your letter dated 27th August 2010, with regards to the Credit Card Payment Protection Insurance Policy. I do not feel your letter has offered a satisfactory justification that my policy was sold fairly, reasonably and within my best interests.

I note from your letter you state that the policy was sold before the Financial Services Authority Insurance Conduct of Business Rules came into effect on 14 January 2005, and that prior to this it was not a specific requirement to discuss existing insurance arrangements. I am sure that you are aware that prior to this rule coming into force Lloyds TSB was an existing member of the General Insurance Standards Council (GISC). The GISC are an independent, non statutory organisation that was officially launched on 3 July 2000 to regulate the sales, advice and service standards of its members. Their main purpose is to make sure that insurance customers are treated fairly. I feel that Lloyds TSB mis-sold me the insurance policy associated with my credit card and in doing so contravened the regulations of the GISC.
I feel that my complaint has been over looked and not fully investigated. I do not believe the insurance policy was sold in my best interests and under the guidance of the GISC and Financial Services Authority (FSA). Had the policy been correctly explained to me I would have declined taking out the insurance, due to the fact of already having sufficient cover in place. The Payment Protection Insurance associated with my credit card has put me out of pocket and I now believe I am being deprived of my money.
I am aware that the FSA are punishing banks for rejecting genuine complaints and not investigating them properly. I therefore ask for you to re-investigate my complaint.

If I do not receive a response by Monday 20 September I will refer the matter to the Financial Ombudsman with the necessary evidence to support my case."

I received a letter this morning from the customer care department, this is below:

"Thank you for your recent correspondence.

In your letter you expressed that you were unhappy with my final decision.

Having reviewed your complaint file again I can confirm that my decision to reject your complaint will stand.
I am sorry that my decision was not more favourable to your complaint. I made the decision based on all of the information available.

If you remain unhappy with my decision you can ask the Financial Ombudsman service to independently review your client's complaint. Details of how to refer your complaint to the Financial Ombudsman service was enclosed in our letter dated 27 August 2010. You must refer the matter to them within six months of the date of that letter. Please refer to the leaflet enclosed with that letter for details about this service."



Any thoughts?

Thanks again for your help.

di3004

Ian4 wrote: »

Morning Di,

I emailed the CEO (Eric Daniels) of Lloyds TSB on Thursday 02 Sept and posted 2 letters this morning in response to the letter I received declining my complaint- I sent a letter to Lloyds Customer Care Dept and one to Eric Daniels. The letter is copied below:


"I am writing in response to your letter dated 27th August 2010, with regards to the Credit Card Payment Protection Insurance Policy. I do not feel your letter has offered a satisfactory justification that my policy was sold fairly, reasonably and within my best interests.

I note from your letter you state that the policy was sold before the Financial Services Authority Insurance Conduct of Business Rules came into effect on 14 January 2005, and that prior to this it was not a specific requirement to discuss existing insurance arrangements. I am sure that you are aware that prior to this rule coming into force Lloyds TSB was an existing member of the General Insurance Standards Council (GISC). The GISC are an independent, non statutory organisation that was officially launched on 3 July 2000 to regulate the sales, advice and service standards of its members. Their main purpose is to make sure that insurance customers are treated fairly. I feel that Lloyds TSB mis-sold me the insurance policy associated with my credit card and in doing so contravened the regulations of the GISC.
I feel that my complaint has been over looked and not fully investigated. I do not believe the insurance policy was sold in my best interests and under the guidance of the GISC and Financial Services Authority (FSA). Had the policy been correctly explained to me I would have declined taking out the insurance, due to the fact of already having sufficient cover in place. The Payment Protection Insurance associated with my credit card has put me out of pocket and I now believe I am being deprived of my money.
I am aware that the FSA are punishing banks for rejecting genuine complaints and not investigating them properly. I therefore ask for you to re-investigate my complaint.

If I do not receive a response by Monday 20 September I will refer the matter to the Financial Ombudsman with the necessary evidence to support my case."

I received a letter this morning from the customer care department, this is below:

"Thank you for your recent correspondence.

In your letter you expressed that you were unhappy with my final decision.

Having reviewed your complaint file again I can confirm that my decision to reject your complaint will stand.
I am sorry that my decision was not more favourable to your complaint. I made the decision based on all of the information available.

If you remain unhappy with my decision you can ask the Financial Ombudsman service to independently review your client's complaint. Details of how to refer your complaint to the Financial Ombudsman service was enclosed in our letter dated 27 August 2010. You must refer the matter to them within six months of the date of that letter. Please refer to the leaflet enclosed with that letter for details about this service."



Any thoughts?

Thanks again for your help.

Hi Ian
That is a fab letter, remember to use recorded signed for delivery as well.

I am sure they are template letters they use, because going by other's who have also made a complaint they all come back with the same letter.

Wonder if contacting the FSA would help at all?
Just a suggestion really.

http://www.fsa.gov.uk/Pages/Doing/Contact/index.shtml

Well as they were also GISC regulated prior to the FSA you are entitled to still complain to the FOS.

I do hope your letter will help now and fingers crossed they will overturn the decision in your favour.
And I do think the date you have given them to get back to you is fair too.

Will keep a check on your posts Ian, if I think of anything else in the meantime I shall let you know.

Fingers crossed.

Di

Ian4

Thanks for the quick response Di.

Is that contacting the FSA in addition to the FOS?

di3004

Ian4 wrote: »

Thanks for the quick response Di.

Is that contacting the FSA in addition to the FOS?

Your welcome Ian

I'm not saying the FSA will do much, but maybe you could tell them your thoughts on your complaint via the bank, and tell them you don't believe your complaint was taken seriously.

As you know they are not happy with the banks for rejecting geunine complaints.
It may just be worth to see if they have any suggestion for you, then of course if you get no joy after on the next decision/response, let them know you have contacted the FSA.

Yes this would be in addition to the FOS.;)