PPI Reclaiming Discussion part 4

Natalie6999

showergirl wrote: »

hi Guy,s

Sorry to bother you again. But if Tesco come back saying the will make an offer as a good will gesture will this be for the full amount plus the 8% interest. My ppi was £1861.20 all told and then there should be 8% on top of that.

I have read on the Legal Beagles site that RBS are only offering £750 back as a goodwill gesture. Its under the heading Banks fob off ppi claiments

Any advice would be welcome

On the letter from Fos it states that you will be put back into the same position that you would have been if you had not taken out the PPI plus 8% interest per year.

rosemahairy

Im starting on my mothers finances now. She has 4k of ppi with swift cover. The loan is over 20years but the ppi cover only lasts 3!!!! Anyone have dealing with Swift in terms of ppi, unenforceable agreements etc? Any info on them appreciated
Thanks
Rosie

di3004

rosemahairy wrote: »

Im starting on my mothers finances now. She has 4k of ppi with swift cover. The loan is over 20years but the ppi cover only lasts 3!!!! Anyone have dealing with Swift in terms of ppi, unenforceable agreements etc? Any info on them appreciated
Thanks
Rosie

Hi Rosie

Good luck with your mum's PPI.
If you check the success thread as well, there may be some posts about them, I am not too sure to be honest, but either than that, post over at that thread as well.

For your other query "unenforceable agreement" there should be more info on the loans thread I believe where posters can give their opinions on this for you, good luck.;)

DREAMER

Turboman,
The loan is for £6850.00 and the PPI is £395.79 both at 7.9% over 48 months.Total payable is £8436.00. In there letter of the 20 th they say they have arranged for the ppi to be removed from the loan and that a new agreement will be sent out to me for signing and that the new agreement will have monthly payments of £166.15.this represents the monthly payments i would have made had the ppi not been included. In my phone call to A&L they said that my ppi was only for life cover .
many thanks for your posting Turboman.

Sock_Monkey_2

Hello there, I posted a while back to do with trying to make a LLoydsTSB reclaim on my OH's loan. We sent off our first letter in January and have since received the inevitable letter back rejecting our complaint.

I am in the process of composing our second letter to them, however I wanted to ask advice from everyone here as I will be modifying the template letter to respond to them.

The first point is that my OH had tried to cancel his policy last year - the letter they sent back states that they have no record of him contacting the bank. I am assuming they only look at their telephone records as he actually made an appointment with a branch and had a face to face meeting with someone for an hour or so specifically to discuss the loan ppi.
At this meeting he explained that he did not have access to the loan paperwork as his ex wife took it when they split and so was relying solely on their information. He was told he could not cancel his PPI without re-financing his entire loan. He was however given the option of re-payment holidays which he has since taken advantage of as he was in extreme financial difficulties throughout last year.

In their response to our mis-selling letter Lloyds have denied having any information to do with him contacting the bank, they have also said he can cancel the policy at any time. So not only was he mis-sold in the first place, his bank records are missing vital information and he was also provided with completely incorrect information. Because of this he has had to extend his loan through repayment holidays and has been in financial difficulties throughout the year which could have been eased considerably if he had cancelled the policy at the time. We are still maintaining that the policy was mis-sold initially, but are planning on adding more information about the meeting with the bank including a copy of the card he was given at the time and a copy of a personal email he sent mentioning the appointment as proof.

In their response letter LTSB also included a copy of the paperwork my OH signed. All well and good, we had seen that before, however this time it included extra pages at the end of which there is a section for the sales advisor to sign stating that the advisor

“recommended the product(s) included in this document as being suitable for you on the basis of the information supplied by you in relation to your demands and needs, existing relevant insurances and personal circumstances.”

As this has not been signed by their representative we feel that they have not provided proof that the policy was not mis-sold and the fact that it has not been signed suggests the advisor did not wish to be bound by the terms. Is this something we should be bringing up in our response? I feel it is important but do not have the knowledge to know if it would be a wise move to mention it.


Sorry to be long winded but whenever I try and explain anything about this anywhere, it seems to take forever. Thank you in advance for any information.

di3004

Sock_Monkey wrote: »

Hello there, I posted a while back to do with trying to make a LLoydsTSB reclaim on my OH's loan. We sent off our first letter in January and have since received the inevitable letter back rejecting our complaint.

I am in the process of composing our second letter to them, however I wanted to ask advice from everyone here as I will be modifying the template letter to respond to them.

The first point is that my OH had tried to cancel his policy last year - the letter they sent back states that they have no record of him contacting the bank. I am assuming they only look at their telephone records as he actually made an appointment with a branch and had a face to face meeting with someone for an hour or so specifically to discuss the loan ppi.
At this meeting he explained that he did not have access to the loan paperwork as his ex wife took it when they split and so was relying solely on their information. He was told he could not cancel his PPI without re-financing his entire loan. He was however given the option of re-payment holidays which he has since taken advantage of as he was in extreme financial difficulties throughout last year.

In their response to our mis-selling letter Lloyds have denied having any information to do with him contacting the bank, they have also said he can cancel the policy at any time. So not only was he mis-sold in the first place, his bank records are missing vital information and he was also provided with completely incorrect information. Because of this he has had to extend his loan through repayment holidays and has been in financial difficulties throughout the year which could have been eased considerably if he had cancelled the policy at the time. We are still maintaining that the policy was mis-sold initially, but are planning on adding more information about the meeting with the bank including a copy of the card he was given at the time and a copy of a personal email he sent mentioning the appointment as proof.

In their response letter LTSB also included a copy of the paperwork my OH signed. All well and good, we had seen that before, however this time it included extra pages at the end of which there is a section for the sales advisor to sign stating that the advisor

“recommended the product(s) included in this document as being suitable for you on the basis of the information supplied by you in relation to your demands and needs, existing relevant insurances and personal circumstances.”

As this has not been signed by their representative we feel that they have not provided proof that the policy was not mis-sold and the fact that it has not been signed suggests the advisor did not wish to be bound by the terms. Is this something we should be bringing up in our response? I feel it is important but do not have the knowledge to know if it would be a wise move to mention it.


Sorry to be long winded but whenever I try and explain anything about this anywhere, it seems to take forever. Thank you in advance for any information.

Hi there

This is just typical of LLoyds, if you get the chance to read the posts on the discussion thread or even the other separate threads there are many who have complaints against these, including myself where mine is in the process now of just waiting for an outcome of this with the FOS.

They have basically sent back a standard fob off response letter.

They do generally give you the opportunity to write back to them as you know in order for them to investigate the complaint.

Whatever they have pointed out in trying to back themselves, is just try to give a fuller explanation on the response they have given for every one of them they have fobbed you off with.

Have you the agreement for this still?

If not you can request a copy of the agreement, if this was taken out over the last 6 years, they should be able to supply you with this within 12 days of request, although there is a small charge of £1 postal order or cheque payment for this.

Or the other option would be is to request a Subject Access Request(SAR) where they have 40 days to comply, there is a charge of £10 cheque or postal order payment for this, and they should send everything they have on you (O/H) going back as far as 6 years, this may be of some help to back your complaint.

There is a SAR letter template for this on the thread with details - remember to post by recorded delivery.

Going back to the 2nd letter, keep is strong and tell them if they do not resolve this you will not hesitate but take this further, with the financial ombudsman service to investigate.


Hope this is of some help, but please post again for any further help if required, anytime.;)

Good luck. X

di3004

Some interesting PPI news here:::::::::::::::
Banks fobbing off PPI mis-selling complaints with 'goodwill' payments


http://www.guardian.co.uk/money/2009/feb/22/ppi-banks-mis-selling

DREAMER

very interesting, to read di, thank you for bringing it to our attention.

di3004

DREAMER wrote: »

very interesting, to read di, thank you for bringing it to our attention.

Hi hun,
Not a problem, seen it on another site so thought it would be useful here as well lol.;) X

chicqa

Hi All,
If anyone could help with a letter I received last week from HFC regarding my PPI claim.
Now, I must explain that the loan I originally took out with them was paid off early (re-written) against the account I claimed against..
I am concerned this has now been transferred to the new loan account and also as I know I have completely different information regarding the original loan. Can anyone tell me if I can claim the rebate back from early settlement as they were never given to me they may have been applied to the new account?
The offer made to me was approx £1,000 with some rather confusing figures at the bottom of the letter- I will give example:-

• Total Cash for price of Life £****+
• Total Cash for price of ASU £****+
• Total Interest Applied for life of Life £****+
• Total Interest Applied for life of ASU £****+
• Cash Rebate for Life £**** -
• Cash Rebate for ASU £**** -
• Interest Rebate for Life £**** -
• Interest Rebate for ASU £**** -
• 8% Credit Interest £****+

Now by my calculations based on the paperwork they gave me at the time of taking the loan I am actually owed approx £2500 (PPI) but then I was also charged approx £5,000 in interest charges? Am I able to claim this back also?
Need to know how to go back to them as I had drafted a letter:

Thank you for your letter dated February 2009.
In the letter you have offered a 'full refund of Insurance policy plus interest charged', may point your attention to your reference regarding my early settlement. In this paragraph you state that an early settlement figure was calculated which included rebates of insurance premiums. Please send me all correspondence and documents relating to my acceptance of the cash rebates detailed on your letter as I have never received any cash rebates, so these too are owed.
To my calculations, the sum offered is considerably lower to what was actually charged to me when I initially took out the policy. Life & ASU detailed in your letter are incorrect against the information sent to me by HFC previously. It is based on the information provided to me by your company regarding my loan I have calculated that HFC bank owe me the sum of £2,500(PPI ) +£5,000 (interest applied with loan) + 8% statutory interest that a court would award.
The total I therefore require to be paid to resolve this issue is £7500.
I am prepared to accept the amount offered as part settlement in respect to this matter.

I hope that we can amicably come to an agreement on this matter but due to your default of the request made in respect to The Consumer Credit Act 1974, I will rigorously argue against any defense you may bring if this matter proceeds further.
If you agree to refund the outstanding detailed herewith then I will draw this matter to a close.
If you do not respond, or you do not respond positively, within 7 days, I shall be taking my complaint to the Financial Ombudsman.

Please consider this a before action letter.




Any help & Advice would be really helpful as I have to respond within 10days.

Thanks

---

Hi there

Great letter there hun.

They have not given you much time to think about this have they?

Yet they want all the time in the world if the shoe was on the other foot.

I would copy and post this on the ppi reclaiming discussion thread above the page, hopefully Turbo will be along to take a look at this, good luck and to my knowledge "yes" you can claim in regards of the first one, Turbo should be able to work this out for you as well, so with a bit of luck he will post in later, he generally goes onto the reclaiming thread.;)