PPI Reclaiming Discussion part 4

73danny

73danny wrote: »

I took out a 5 year loan with Abbey National, just over 2 years ago.. Recently I keep getting hassled by a company who wants to claim my PPI back.... Initially I couldn’t see where I had been missold the policy as I do remember agreeing to and indeed wanting it... As this "No Win", "No Fee" company keeps on hassling me to return the claims pack I no longer believe they are operating in my interest, but only their own, as their Fee is 39%... and the consultant is very pushy... even more so then the Banks ever where... So If I do go for compensation, it will be off my own back… Anyhow, that said... I have read & reread my PPI policy and hey.... WHAT HAVE I DONE... PPI offers protection if I am sick from work, well I get 6 months full sick pay, then statutory.. PPI offers protection if I loose my job... well I get full redundancy and severance package from my employer... PPI offers protection if I die... well my employer protects me with a 40k death in service benefit and also I have a 100k life assurance with, now let me think......... oh, that would be Abbey National... !!.. Now when I applied for the Loan I do remember Abbey asking me some questions, but cannot remember exactly what... That said the loan was for 10k, and I was not prepared to take on such a commitment without protection... now the thing is, I'm sure Abbey said that they don’t offer advice... but did say I was eligible to take out the PPI policy... but in my opinion they should not be able to sell such a policy without highlighting the dam right obvious... like in my case... I am suitably protected without PPI... and as a consequence I now pay £51 a month for something I don't actually need..., to date that is almost £1300 in premiums.. I think the key message from my experience is, that in many cases when someone is forced to borrow a large sum of money, this is normally because they are financially compromised... and as in my case, the prospect of lending such a large sum of money when no light appears to be at the end of the tunnel puts you in a very vulnerable position... hence why I jumped at the chance to protect my repayments... as I could not contemplate worsening my situation if I was to loose my job.. What Abbey should have done, was at least to examine my current protection to ascertain the need... in my opinion whether the courts see this as a missale or not, I strongly think the policy has been sold dishonesty as the success of the PPI sale, especially in my case has been purely through lack of credible advice at time of purchase, and Abbey has abused my inability to understand my own circumstances… Also I think it is right to mention that if I had declined the PPI, I would not have been given a second chance to take the policy, but I guess that is because the PPI is bolted into the overall loan calculation, something else I really didn’t understand… but the one off offer, forces your hand as well.. (Though I cannot recall whether that was said at time of application, certainly says that on the policy…)… No one told me I could seek an alternative policy elsewhere, which not also could be cheaper, but could have a broader level of cover, which could cover all my financial commitments, not just the one Abbey Loan.. Next Steps - I’m thinking of sending Abbey a SUBJECT ACCESS REQUEST, so that I can hopefully get a recording of my application (application was over the phone) and subsequent in house paperwork completed during the application process… If I feel that my interest where no observed during the application, then I will make a 1st step complaint.. Question is; do you think this is the right action to take, do you think I have a case??? Many Thanks for any replies..

Hi All, Today I recevied my SAR request from Santander.... However all they have sent me is a signed copy of the loan agreement and screenshots of repayment history.. There is no transcript of the actual phone conversation when I applied for the loan or any inhouse forms used to determine my eligblitly for PPI... The agrrement does show I have ticked the box saying I wish to purchase PPI, however my signature is against the following statement : "I understand that I am purchasing the product ticked above on credit provided by you and that the terms relating to the credit for the product can be found under the headings 'key financial information ' and 'other financial information' in this agreement".. So where do I go from here; Do I reply and ask for Transcript of phone conversation and any other materials used to asses my application.. or do I go for the kill...! My reason for complaint is that I believe the policy was sold to me without credible advice... i.e. It was not apparent at time of application that I was already suitbaly covered and Santander have abused my inabilty to understand by own circumstances... I know they will claim they openly only sell the policy without advice... but that in it self in my opinion misleading and Santander have gained a sale purely on the fact that I knew no better... So, do you think I am tackling this from the right angle and do you think I have a case.. ? Many Thanks

remy1

di3004 wrote: »

Hi and welcome

If the account is no longer active, then that is actually correct, however some will still hold these and will send them but do not always hold on to these, but with a SAR request they must comply by the Data Protection Act (DPA) and supply what they still hold going back the last 6 years.

More on SAR below, but please be aware, as long as you still have your account number and your reasons to make a reclaim on the PPI, you can continue to make a reclaim on this.


Good luck.;)

Hi Di Thank you so much for your help. I really have no idea what I am doing with this re claiming stuff. We have had 2 loans through Natwest, one in joint names with my now husband, then partner, and one in just his name. If I send the SAR letter that you mentioned will they send me everything I need to recaim on all accounts? Or do I need to send one for each account??? 3 Cheques for £10?? Sorry to be so dense i feel it a little over my head!!

di3004

73danny wrote: »

Hi All, Today I recevied my SAR request from Santander.... However all they have sent me is a signed copy of the loan agreement and screenshots of repayment history.. There is no transcript of the actual phone conversation when I applied for the loan or any inhouse forms used to determine my eligblitly for PPI... The agrrement does show I have ticked the box saying I wish to purchase PPI, however my signature is against the following statement : "I understand that I am purchasing the product ticked above on credit provided by you and that the terms relating to the credit for the product can be found under the headings 'key financial information ' and 'other financial information' in this agreement".. So where do I go from here; Do I reply and ask for Transcript of phone conversation and any other materials used to asses my application.. or do I go for the kill...! My reason for complaint is that I believe the policy was sold to me without credible advice... i.e. It was not apparent at time of application that I was already suitbaly covered and Santander have abused my inabilty to understand by own circumstances... I know they will claim they openly only sell the policy without advice... but that in it self in my opinion misleading and Santander have gained a sale purely on the fact that I knew no better... So, do you think I am tackling this from the right angle and do you think I have a case.. ? Many Thanks

Hi there

If you don't feel they send all the details you should have received, write to them and tell them this, and also ask them to provide you with a written transcript of phone recordings (if they are unable to send the disc recording as such).
You can always contact the Information Commissioners Office (ICO) on this matter in regards of your data if you want to to.
http://www.ico.gov.uk/complaints.aspx

But despite the above, your still able to continue to make a reclaim with your reasons.
You can do this by completing the reclaiming questionnaire, this replaced the reclaiming template letter on this site, send it to whoever set up your policy (Head office).
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

Remember to keep copies of all you send and receive, in case you need to look back at this at some point, they should give a decision by 8 weeks.

Good luck.

di3004

remy1 wrote: »

Hi Di Thank you so much for your help. I really have no idea what I am doing with this re claiming stuff. We have had 2 loans through Natwest, one in joint names with my now husband, then partner, and one in just his name. If I send the SAR letter that you mentioned will they send me everything I need to recaim on all accounts? Or do I need to send one for each account??? 3 Cheques for £10?? Sorry to be so dense i feel it a little over my head!!

Hi there

Your welcome.

What I would do is make sure your hubby signs the SAR as well, and I would then enclose all the account numbers on all the accounts you both had with them on the request.

Maybe though in this case, you could give them a quick ring, just to save time later on, ask them if you should be requesting for SAR's separately.
They should be able to confirm this over the phone.
As it may vary from one bank to another.;)

You only need to enclose £10 cheque/postal order per letter, this should cover everything you taken out with them, (write all account numbers on SAR that applies to you, if you do a separate SAR to your hubby then that would be £10 in each one.
If your able to do this as a joint SAR, then apply all account numbers, and just the £10 cheque/postal order.
Hope this helps X

73danny

Thanks Di, Not sure if my last Post posted... Do you think I should wait for the transcript as I cant remember what I heard or what I said... and I dont want them to wriggle out of the claim.. Many Thanks

remy1

Thank you Thank you Thank you Di. I think your fantastic for helping me and everyone else on here. Its refreshing to see selfless acts these days x:T

di3004

73danny wrote: »

Thanks Di, Not sure if my last Post posted... Do you think I should wait for the transcript as I cant remember what I heard or what I said... and I dont want them to wriggle out of the claim.. Many Thanks

Hiya

Not a problem, and you could wait for the transcript if you want to, if they are unable to supply this, then they should let you know, but that should not stop you making a reclaim.;)

di3004

remy1 wrote: »

Thank you Thank you Thank you Di. I think your fantastic for helping me and everyone else on here. Its refreshing to see selfless acts these days x:T

Bless......:A, your all very welcome X:beer:;)

kenf2210

hi,just recieved a update to my claim from hsbc,they have sent me a letter apologizing that they are not in a position to provide me with a full response yet,they want me to give them till the 11th january to provide me with an answer (aiming that is ) they also said they hope i will give them this time to respond rather than go to the fos,is this just bloody delay tactics or what ??when is the court case before or after this date ?and the cheeky !!!!!!s have said if im not happy then im in my rights to go to the fos & theyve sent me a leaflet with the letter for the ombudsman,any ideas what i should do? wait it out till january 11th or go for fos,i just dont want to wait untill then and they say no :mad:

amersall

kenf2210 wrote: »

hi,just recieved a update to my claim from hsbc,they have sent me a letter apologizing that they are not in a position to provide me with a full response yet,they want me to give them till the 11th january to provide me with an answer (aiming that is ) they also said they hope i will give them this time to respond rather than go to the fos,is this just bloody delay tactics or what ??when is the court case before or after this date ?and the cheeky !!!!!!s have said if im not happy then im in my rights to go to the fos & theyve sent me a leaflet with the letter for the ombudsman,any ideas what i should do? wait it out till january 11th or go for fos,i just dont want to wait untill then and they say no :mad:

Hi there, i know it is annoying when they ask you to wait, but if you go to fos, they will have to wait for a reply from them also!! and they will only tell fos what they have told you. Feel free to go to fos as it past the 8 weeks, but as they havent put you "on hold" because of the judicial review, then i would hang on. the first hearing of the review is the 24th january.