PPI Reclaiming Discussion part 4

rachaels_2

Yes, i-smart wanted 25% of what we would have paid in PPI premiums had the policy not been cancelled. Our offer letter, from Alliance and Leicester, stated that the ppi would be cancelled if we accepted the offer. So i suppose we cancelled it.

di3004

megpie18 wrote: »

Hi there, I read in my email that the FOS was taking upto 2 years to process PPI mis-selling claims.

OK - some background - I took a loan out with EPF in June 2007 - this was brokered by Norton. When my parents financial advisor had a look at my loan agreement he realised I had PPI. I didn't even know what PPI was. He informed me that it was insurance and as I have certain medical conditions it means that I wouldn't be covered if I needed to claim.

The insurance has been taken up front of the loan payments. I started my process on 17/11/2008 with a claims company who expect 20% +VAT for 'working on my behalf' to claim the money back.

In June 2009 my claim was referred to the FOS by the claims company as Norton were refusing my claim - and ignoring follow up requests.

My claim has been through 3 different levels of Adjudicators who have all upheld my claim. Since May 2010, my claim has been referred to an Ombudsman - it is still waiting to be reviewed by an Ombusdsman. The Ombudsman team cannot inform me of a timescale of when my claim will be allocated to an Ombudsman.

I am experiencing financial problems and the worry of this is now impinging on my health.

Basically, can I 'sack' the claims company - as all they post on my 'claims tracker' is the same statement - the FOS have written to explain this case is taking longer than usual to process - when as I said - its still not been assigned to an Ombudsman.

Sorry for rambling.

Hi and welcome

I too had a loan with EPF, but it was brokered/arranged by a click finance.

Good luck on your reclaiming.

I am really not sure what happens if you've had a claims comany dealing with this for you, but if in hardship and your case is with the FOS, you could let them know about your difficulties/hardship and request for fast track (if you've not done so yet).;)

stereo_mike

Mrsrobinson wrote: »

These are the terms and conditions:

3.6 subject to clause 3.7 below, if this Agreement is terminated by the Client for any reason, pay Combined Solution (GB) Ltd either £500 plus VAT (cancellation fee) or, if the Claim has already been submitted by Combined Solutions (GB) Ltd and Combined Solutions (GB) Ltd proceeds with the Claim and the Claim is successful, the Fee or the cancellation fee, whichever is the greater;

3.7 if the Client terminates this agreement and Combine Solutions (GB) Ltd proceeds with the Claim, if the Claim is unsuccessful and no Compensation is payable to the Client, the Client will not be liable to pay the said sum of £500 plus VAT referred to in clause 3.6 above or any monies whatsoever in respect of the claim; and

Basically the above 2 sections are what they will charge you on. As you've said they don't know who to pursure the claim against, so they won't bother pursuing it, especially when they can charge you £500 + Vat for basically doing nothing.

The only thing I can suggest is that you ask them to proove that the £500 + Vat constitutes reasonable costs that they have incurred for acting for you. If they can't progress your complaint to the claims management regulator.

Mrsrobinson_2

Thanks Mike... I suspected that was the case.

I spoke with Creditflex yesterday who apparently took over part Loanmakers (who were apparently the original broker and have ceased trading). I spoke to one of the directors who informed me that any requests they received regarding PPI reclaim for Loanmakers were sent directly to BDO Stoy who are the administrators.

I guess I will have to wait and see what the 'cancellation department' have to say.

kai12372

Hi all,just had word from my adjudicator at the financial ombudsman service that they have agreed to fast track my ppi complaint due to financial reasons,does anyone know how long this will take?

di3004

kai12372 wrote: »

Hi all,just had word from my adjudicator at the financial ombudsman service that they have agreed to fast track my ppi complaint due to financial reasons,does anyone know how long this will take?

Hiya

Its difficult to predict really, but if they agree to this, they do try to push it a little quicker, yet this can still take some time, but contact them on a monthly basis for updates, good luck, and hope your not waiting about too long.;)

megpie18

Hi - I am having difficulties financially, and I have spoke to the FOS, I have sent evidence to them which they say they haven't received. I am going to resend it, hopefully it will reach them.

Megpie18

kai12372

di3004 wrote: »

Hiya

Its difficult to predict really, but if they agree to this, they do try to push it a little quicker, yet this can still take some time, but contact them on a monthly basis for updates, good luck, and hope your not waiting about too long.;)

Thanks for that di3004,hope its sooner rather than later!

Stuart_Mo

Hi there MSEs - OK this is a long story, goes back over 2 years now but the v. short version is that the Ombudsman has told us we were missold too... However due to circumstances he thinks we might actually be better off keeping the PPI and claiming on it as it turns out that although we were told we couldn't claim we actually could.

So we have two ways forward, however the FOS won't recommend the best way all that they can do is tell us of the two different ways to procede not which is best for us. For that we need to speak to the people who we took out the loan with and get them to give us a calculation as to which way we would be better off. However after agreeing to a request from the FOS to cease and desist for 4 weeks and hold off any court proceedings and repeated lengthy requests for these figures we've heard nothing. We have asked their debt collection agency, the loan comapny directly and their liason team with the 3rd party bank that they actually administer the loan through and sent recorded delivery letters requesting these figures several times we have heard nothing.

The loan company refuse to talk to us directly because it is with the FOS, their debt collection agents refuse to talk as "it's a matter for our client" the bank with whom the loan is arranged (it's a white labelled product that the company we took it out through sell on behalf of a bank) agree with us, see the problems but as it's a matter of PPI cannot help us. THe insurance company with whom the PPI would be claimed can't help us unless we are actually making a claim. The FOS can't help as it is down to the loan comapny to provide the firgures and the FOS has no juristiction to force them to give over these figures. All in all we're stuck.

So I wrote last week, recorded, guaranteed next day saying that unless we had not heard in 7 days we would assume that the loan was cancelled and our liability was zero and we've not heard of course. Then 3 days after that deadline we get a pro-forma "If you think you have a compalint this is how to go about it" letter with a leaflet, not I have a stack of such letters and leaflets so I guess it's almost an automated process. I know that the letter I sent was fasicious, I'm guessing I can't now ignore any requests for money due to the terms I imposed, but where do I go from here? I've been writing letters, or calling, emailing etc. on average two or three times a week, for the past 3 months. Prior to this I have been chasing, writing calling, emailing. ANd yet here we are 2 years later and still nothing.

How do I reach a conclusion, is their a statute of limitations on chasing for loans, if so where do I find out about this? Anyone have any advice, experience or pointers we'd be happy to hear them. Stressed? Yes, it's affected my health actually and thinking about it and writing this is actually making my heart thump. Apologies for typos but I have just about had enough of all this TBH.
Any advice would be very greatfully received. (National Debtline, CAB etc. have all been exhausted and all have said "We've never heard it get so bad before" or words to that effect).

di3004

Hi Stuart.

In my opinion it is best to have protection - if your eligible to make a claim on it that it of course.

So you do what you feel is best for you, have you alternative protection for this loan maybe? if so then you do not require 2 of them.

I was thinking if you post on a separate thread below, I feel dunstonh would be able to advise you best on this matter, so if you've not done so yet, copy and paste your post on to a new separate thread below, you could subject it "Dunstonh help required please", he will not miss this one then and is good at giving advice on this actual matter.

All the best with this.;)