PPI Reclaiming Discussion part 4

The_Marksman

15pops wrote: »

hi i need help, i have 4 ppi`s 2 with AA (capital bank) 1 with lloyds and 1 mbna cc, i have some paperwork ie - aggreements, polcy, tc`s but after looking at all this and your template letters i`m stuk as what to say for my reason for miss selling as i cant remember what was said or what i wrote on the application`s. my first thought is that as i`m self employed and have been for 15/20 yrs the policy`s are not suitable,although saying that my cc say`s that i have to cease trading to claim (no good if i`m out of work for a couple of months)

I`m not working at the moment so money is very tight , 3 of the ppi`s are active, 1 of the AA was settled (feb 06) in order to aquire the 2nd loan (may 06)
I`m in a dilemma not sure which way to go `HELP`

have a liitle look on this site for reasons you may have been mis sold and which may apply to you but remembering what was said or arranged would be handy as they have records of all that but im sure your reason is right there you were self employed and many ppi are not suitable for self employed so you may have a reason to complian:D

mumofjanda

Hi, I've been looking into re-claiming PPI and have been sorting through paperwork. My OH took a loan with Nationwide in 2002 over 84 months.It was for debt consolidation and he applied for it over the phone. The amount of the loan was £12500 and the PPI was added upfront ,therefore attracting interest as well, making total repayable over £21000 :eek:. We remember being given the monthly repayment figure but not being advised that the PPI was optional. The paperwork does say optional credit insurance however! (no place to tick to remove or sign if we don't want it) At the time we did not realise that we did not need this costly insurance as my husband gets 6 months full pay from work if off sick before going onto half pay. We also have cover that we took out with the advice of a financial advisor who went through our medical backgrounds etc and provides cover from the 6th month stage. My argument here would be that my husband was not asked any questionas as to establish whether the PPI on the loan was necessary or advised that it could be obtained elsewhere for cheaper. When the loan agreement came for his signature he accepted because it was for the amount we asked for at the repayment he was quoted. Do we have an argument for mis-selling do you think? Would love to get something back from the banks who seem to have fleeced us over the years. Just wish I knew then what I know now and hadn't been so stupid!!!:o TIA for any advice.

The_Marksman

mumofjanda wrote: »

Hi, I've been looking into re-claiming PPI and have been sorting through paperwork. My OH took a loan with Nationwide in 2002 over 84 months.It was for debt consolidation and he applied for it over the phone. The amount of the loan was £12500 and the PPI was added upfront ,therefore attracting interest as well, making total repayable over £21000 :eek:. We remember being given the monthly repayment figure but not being advised that the PPI was optional. The paperwork does say optional credit insurance however! (no place to tick to remove or sign if we don't want it) At the time we did not realise that we did not need this costly insurance as my husband gets 6 months full pay from work if off sick before going onto half pay. We also have cover that we took out with the advice of a financial advisor who went through our medical backgrounds etc and provides cover from the 6th month stage. My argument here would be that my husband was not asked any questionas as to establish whether the PPI on the loan was necessary or advised that it could be obtained elsewhere for cheaper. When the loan agreement came for his signature he accepted because it was for the amount we asked for at the repayment he was quoted. Do we have an argument for mis-selling do you think? Would love to get something back from the banks who seem to have fleeced us over the years. Just wish I knew then what I know now and hadn't been so stupid!!!:o TIA for any advice.

Thats a good a reason as many, have a look here and a read and see if anymore apply to your situation

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

fill in the questionnaire in step 3 giving your reason/reasons and get it sent off:D

simple as that;)

mumofjanda

Thats a good a reason as many, have a look here and a read and see if anymore apply to your situation

http://www.moneysavingexpert.com/rec...loan-insurance

fill in the questionnaire in step 3 giving your reason/reasons and get it sent off:D

simple as that;)

Thanks for the reply! I'm on to it now! Nothing ventured,nothing gained I suppose!:)

CJJS

Hi everyone,

My boyfriend took out a loan with AA over the phone a few years ago, it's now been paid back. I need to clarify with him what was discussed on the phone but I know that PPI was added and he didn't know he had it.

Only problem is, is that there was an opt-in box which he signed on the paperwork he was sent in the post to sign, it was above the main signature box. However, he thought this was just one of the places you had to sign to agree to the loan.

What are his chances in claiming this money back?

Thanks for your help.

The_Marksman

CJJS wrote: »

Hi everyone,

My boyfriend took out a loan with AA over the phone a few years ago, it's now been paid back. I need to clarify with him what was discussed on the phone but I know that PPI was added and he didn't know he had it.

Only problem is, is that there was an opt-in box which he signed on the paperwork he was sent in the post to sign, it was above the main signature box. However, he thought this was just one of the places you had to sign to agree to the loan.

What are his chances in claiming this money back?

Thanks for your help.

alot of people have done the same!

its worth a read

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

then fill in the questionnaire and send it off:D

di3004

CJJS wrote: »

Hi everyone,

My boyfriend took out a loan with AA over the phone a few years ago, it's now been paid back. I need to clarify with him what was discussed on the phone but I know that PPI was added and he didn't know he had it.

Only problem is, is that there was an opt-in box which he signed on the paperwork he was sent in the post to sign, it was above the main signature box. However, he thought this was just one of the places you had to sign to agree to the loan.

What are his chances in claiming this money back?

Thanks for your help.

Hi there

He can give it a go with his reasons, I would also be inclined to ask their data dept for the copy of the telephone recordings which may help, if they are unable to supply these by disk maybe they will hold the data in written transcripts.
So ask youy boyfriend to ring or you write on his behalf to request for the copy of the recordings if you want to, if they don't supply these free, they may require you to request for the data by forms of a Subject access request (SAR).

There is a SAR letter template below link if you want to use/and tweak to his requirements, enclose £0 cheque or postal order, they have 40 calendar days to comply.
https://forums.moneysavingexpert.com/discussion/1475553

However, remember a SAR is optional, but may help if you require further info to help on a reclaim (if they still hold them), normally they will hold up to the last 6 years, sometimes even longer.

For more on reclaiming, you can still continue to make a reclaim with his reasons by completing the reclaim questionnaire as on step 3 below.
Complete and send to the ones who sold him the product/loan, head office or complaints dept, allow 8 weeks for a decision, and keep copies of what you send and receive in case you need to refer back to this again at some point.
Good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

beamerguy

Mis-selling or Fraud ????

By putting so much money aside for pending claims, the banks have self admitted they have been mis selling PPI's

Depending how you were mis-sold, will depend on what action you can take against the banks. Most, if not all the mis-selling is actually covered by the Fraud Act 2006

Fraud by false representation

(1)A person is in breach of this section if he—

(a)dishonestly makes a false representation, and

(b)intends, by making the representation—

(i)to make a gain for himself or another, or

(ii)to cause loss to another or to expose another to a risk of loss.

(2)A representation is false if—

(a)it is untrue or misleading, and

(b)the person making it knows that it is, or might be, untrue or misleading.

I am sure you will find in the above sections something that is applicable to your own circumstances

HAVE THE BANKS DAMAGED YOU ?
You were sold a PPI and you accepted in good faith with the knowledge that you were covered and, should you not be able to pay your loan or credit card, payments would be made. The mis-selling for most people meant Fraud by false representation.
The PPI that you accepted formed a contract between you and the lender, not just the PPI, but the loan itself, the two go hand in hand together. Suffice to say that had the lender actually told you the truth, you would never had taken out the loan or credit card.

So, because the PPI claim was refused, you could not afford to pay your loan or credit card.
The banks sent you a so called "final response" letter and then instructed debt collectors to contact you. Despite you claiming that you had a valid claim, the debt collectors harassed you and no doubt in the end placed a bad report on your credit file ??

All because the Banks lied to you in the first place. They seemed at one point to have it all their own way, NOT ANY MORE
If your Bank damaged you as the result of their deception and lies, YOU MUST NOW CLAIM DAMAGES AGAINST THEM.

1: HARASSMENT: Unleashing debt collectors upon you causing harassment and stress. CLAIM FOR DAMAGES
2: ATTEMPTING TO DESTROY YOUR GOOD NAME AND CREDIT FILE. CLAIM FOR DAMAGES

Make it clear to your bank(s) that you are charging them with Fraud under the Fraud Act 2006 which is a criminal offence.

Do not let them fob you off, they will try as this is the "back street trading method" they use. Always send your letter to the CEO, you can get the names from the internet. Mark it for his private and personal attention.
The header of the letter should state, CLAIM FOR COMPENSATION
Then list your claim as outlined above. Send your letter by NEXT DAY DELIVERY so you get a signature.

If you are still receiving letters from debt collectors, just send them a copy of the letter you send to the CEO. Some debt collectors may have purchased the debt from the banks, ask them, they are obliged to tell you. If this is the case, they purchase the rights to the contract so they are liable especially if they have purchased a debt which resulted from fraudulent activities by the seller, that is the banks,

If you want be done with the debt collector, then give them a first and final waring quoting

The Administration of Justice Act 1970 S.40 makes it a Criminal Offence for a creditor or a creditor's agent (often a debt collection agency) to make demands (for money), which are aimed at causing 'alarm, distress or humiliation, because of their frequency or publicity or manner'. Equally, a creditor will be committing an offence if they falsely imply that non-payment of the debt will lead to criminal proceedings; or the creditor pretends to be someone they are not e.g. a court official or bailiff. It is also an offence to send a person a document which looks like it has been sent from a court.

Doubtful you will ever hear from them again as this is also a Criminal Offence

This is like a game of chess. Right now, the banks have made every move possible but you now have the King in your hand and you are about to check mate your bank. For every "fob off" letter you get, send it back to the CEO demanding answers and full compensation.

I am currently doing this with 3 banks

Do the banks want to go to court being charged with Fraud ? It only needs one case where the court is in favour of the consumer and the flood gates will open, well infact they have already. Just remember how disgraceful the banks have been, your objective is to WIN, it is your right to win

CJJS

di3004 wrote: »

Hi there

He can give it a go with his reasons, I would also be inclined to ask their data dept for the copy of the telephone recordings which may help, if they are unable to supply these by disk maybe they will hold the data in written transcripts.
So ask youy boyfriend to ring or you write on his behalf to request for the copy of the recordings if you want to, if they don't supply these free, they may require you to request for the data by forms of a Subject access request (SAR).

There is a SAR letter template below link if you want to use/and tweak to his requirements, enclose £0 cheque or postal order, they have 40 calendar days to comply.

However, remember a SAR is optional, but may help if you require further info to help on a reclaim (if they still hold them), normally they will hold up to the last 6 years, sometimes even longer.

For more on reclaiming, you can still continue to make a reclaim with his reasons by completing the reclaim questionnaire as on step 3 below.
Complete and send to the ones who sold him the product/loan, head office or complaints dept, allow 8 weeks for a decision, and keep copies of what you send and receive in case you need to refer back to this again at some point.
Good luck.

Thanks di3004 and Marksman for encouragement and advice. I think we'll give this a go

beamerguy

If you receive a FINAL REPLY LETTER, simply reject it as unfair practice.