PPI Reclaiming Discussion part 4

amersall

irnbru74 wrote: »

Hi,
Sorry this might appear like a stupid question regarding sending a PPI complaint recorded delivery, what do you do if address is a PO Box?
Thanks

Just send it first class post.
Who are you sending it to?.

amersall

ebayg1rl wrote: »

Afternoon all, is anybody familiar with the FSCS procedure and how long they take to payout?

I took out a car loan in 2002 and it appears that PPI was front-loaded. I tried a complaint to Citroen in 2009 and was told to go away and talk to the dealer. When I tried to contact the dealer it appears they have closed down and gone into liquidation several years ago. So following the Judicial Review (and a stiff drink - for courage) I sent another letter to Citroen in May 2011. I have just had a letter back that says that as my PPI was taken out before Jan 2005 then the dealership wouldn't have been covered by the "Insurance Mediation Directive" so I would have to take the matter up with the dealership, but as the dealership is defunct this isn't do-able. The FOS has also advised that it would be unlikely that the dealership would have been a member of the General Insurance Standards Council and regulated by the FSA so they don't consider that the complaint is something that they could look into. The letter then gives the details of the FSCS.

Help please.

Hi there, due to the year you will have to find out who the insurer was and put a claim into them,the FOS may be able to help you find out who they are.
The FSCS only deal with ppi from jan 24th 2005.

fight_the_power_2

di3004 wrote: »

Hiya

Some details on the HSBC website below, good luck.

http://www.hsbc.co.uk/1/2/personal/payment-protection-insurance

HSBC, Regulated Sales Complaints
120 Redcliff Quay,
Redcliff Street,
Bristol,
BS1 6HU

I would also post by signed for recorded delivery x:)

Thanks Di have sent my letter now for a long wait:)

donda

hi guys does anyone know how long bos take to pay out:p

bhoqoN

donda wrote: »

hi guys does anyone know how long bos take to pay out:p

Hi Donda,

They received my acceptance 2/8/11 :jThey said will pay 28 days later. Hope this helps.

shivering_sheep

Hi All

Anyone else have the same experience as me and tried to get recompense for a mis-sold PPI policy even though I'd claimed on it following redundancy?

Basically I took out a credit card with Lloyds TSB 12 years ago and didn't realise I'd taken PPI as well (yes stupid, I know...) I was self employed at the time, so as we now know, PPI was never going to be of benefit.

However six years on, my work situation changed. I was offered a staff job and took it - only to be made redundant 10 months later. I realised I had PPI and managed to claim on it, but only after going through numerous hoops like having to sign on at the Job Centre and send out forms in triplicate every week... I could not find another staff job so eventually I went back to being self-employed. I carried on paying PPI on the credit card right up til recently.

In total, I've been self employed for 12 years apart from the 10 months in a PAYE job followed by six months being unemployed.

Given that I was self employed when the PPI started, I've made a claim for mis-selling. Lloyds have accept the PPI WAS mis-sold. Only problem is...they want to deduct the payments made to cover my credit card interest during the six months when I was unemployed from the 12 years worth of PPI premiums I've paid. Which seems like a very sneaky way of reducing the amount of money they should be paying me back.

I've argued that the policy was only really 'valid' for 10 months, the period when I was in a staff job, which came came about more by accident than design, anyway. So if they want to offset payouts against premiums surely they should only do so against premiums that were being rightfully charged.ie against 10 months worth of premiums as a PAYE employee, not 12 years, including a decade's worth of being self-employed.

Would appreciate hearing from anyone else who's faced similar. I've complained to the FOS but been told I could have to wait 18 months for an adjudicator to look into it. Cannot afford to get legal advice but cannot help feeling there must be some legal argument I could deploy somehow! The FOS website says even if you've made a claim on a PPI policy you can still complain to them that it's been mis-sold. What it doesn't say is that you'll have a devil of a job getting your just desserts.

PS Lloyds initially did offer me redress of 12 years premiums but slipped in a phrase in the last paragraph saying that any unemployment claim would be 'taken into account' when calculating the final amount due. They did not say HOW exactly it would be taken into account and I assumed it would be deducted pro rata.

They sent several letters trying to pressurise me into signing my 'full and final acceptance' without being able to tell me what the full and final figure would be. I refused, thank goodness, only to find that because of the magic formula they'd come up with, what they were REALLY offering was a fraction of the original carrot they'd dangled in front of me in their initial offer letter. So much for honesty and transparency. Am wondering if my next step should be a letter to the new CEO....

Linda aka Shivering Sheep (cos I've been fleeced...)

smitchy73

shivering_sheep wrote: »

Hi All

Anyone else have the same experience as me and tried to get recompense for a mis-sold PPI policy even though I'd claimed on it following redundancy?

Basically I took out a credit card with Lloyds TSB 12 years ago and didn't realise I'd taken PPI as well (yes stupid, I know...) I was self employed at the time, so as we now know, PPI was never going to be of benefit.

However six years on, my work situation changed. I was offered a staff job and took it - only to be made redundant 10 months later. I realised I had PPI and managed to claim on it, but only after going through numerous hoops like having to sign on at the Job Centre and send out forms in triplicate every week... I could not find another staff job so eventually I went back to being self-employed. I carried on paying PPI on the credit card right up til recently.

In total, I've been self employed for 12 years apart from the 10 months in a PAYE job followed by six months being unemployed.

Given that I was self employed when the PPI started, I've made a claim for mis-selling. Lloyds have accept the PPI WAS mis-sold. Only problem is...they want to deduct the payments made to cover my credit card interest during the six months when I was unemployed from the 12 years worth of PPI premiums I've paid. Which seems like a very sneaky way of reducing the amount of money they should be paying me back.

I've argued that the policy was only really 'valid' for 10 months, the period when I was in a staff job, which came came about more by accident than design, anyway. So if they want to offset payouts against premiums surely they should only do so against premiums that were being rightfully charged.ie against 10 months worth of premiums as a PAYE employee, not 12 years, including a decade's worth of being self-employed.

Would appreciate hearing from anyone else who's faced similar. I've complained to the FOS but been told I could have to wait 18 months for an adjudicator to look into it. Cannot afford to get legal advice but cannot help feeling there must be some legal argument I could deploy somehow! The FOS website says even if you've made a claim on a PPI policy you can still complain to them that it's been mis-sold. What it doesn't say is that you'll have a devil of a job getting your just desserts.

PS Lloyds initially did offer me redress of 12 years premiums but slipped in a phrase in the last paragraph saying that any unemployment claim would be 'taken into account' when calculating the final amount due. They did not say HOW exactly it would be taken into account and I assumed it would be deducted pro rata.

They sent several letters trying to pressurise me into signing my 'full and final acceptance' without being able to tell me what the full and final figure would be. I refused, thank goodness, only to find that because of the magic formula they'd come up with, what they were REALLY offering was a fraction of the original carrot they'd dangled in front of me in their initial offer letter. So much for honesty and transparency. Am wondering if my next step should be a letter to the new CEO....

Linda aka Shivering Sheep (cos I've been fleeced...)

Linda,
This shouldn't affect your complaint of mis-selling, although as they have said any redress you receive will be worked out as normal, and any claim subtracted from the total redress. As this is a credit card, you should be be put back in to the position you would've been in if the PPI wasn't there, which means that you should be getting the ppi payments removed from your credit card, any contractual interest(the rate the card works at (eg19.9%apr), and if this takes your account into credit at anytime you should get the 8% interest on this at that point, each month's ppi payment would normally be different, but you should find that if it's worked out properly is that the contractual interest will be working out at alot more than the premiums paid.
If you go on to the FSA website and look for FS10/12 and I think it is appendix 2 with examples of redress, but if you were to go back to them with examples from the FSA handbook they might think twice, even email the CEO, and if no joy go to FOS and report them to the FSA at the same time for not following the guidelines for redress.
Good luck and keep us posted.

di3004

waddy80 wrote: »

Hi, guys!

First of all hope I'm posting this in the right place but I'm after a bit of advice.

I'm starting my reclaiming journey and have a few q's.

I have a number of CC's / store cards that I had, but the only details I have is those on my credit report. So can I just request my CCA from them for £1 with the letter template? Even though I don't have account numbers?

Also I have got married so have a different name, and also been through 2 addresses. Using the credit report I think I can work out the address last registered for each account, but should I provide all details on the letter to maximise the chances of them finding my account?

Oh and GE capital are santander now, so I go straight to them?

Wish I had kept my statements now!!!!

Hi

How old are these accounts?
Not that it makes any difference, but yes you can write to request for these copies of agreements and enclose £1 cheque or postal order and do so by giving them all the details you have, such as the addresses, maiden name, new name and so on, even you're date of birth, if they're unable to provide these to you, for example if the accounts are no longer active, ask them to send back your payment.

Are any of these local banks?
If so you could try by calling in and asking them to check the files on the computer for you. This way is all free.

The other way is to request a subject access request (SAR) where they have to send data going back to at least the last 6 years, sometimes they will provide data going beyond that, you enclose £10 cheque or postal order for this request.
Although, if you had a few accounts with the same company one SAR is sufficient and it should include all accounts taken out with them, you only then enclose the one off £10, they have 40 calendar days to comply and there is a full SAR letter template below.
https://forums.moneysavingexpert.com/discussion/1475553

Good luck.

di3004

irnbru74 wrote: »

Hi,
Sorry this might appear like a stupid question regarding sending a PPI complaint recorded delivery, what do you do if address is a PO Box?
Thanks

I think when it's posted by recorded delivery, the post office will have details of the remaining address (I think), I recall on still checking the status and the proof of posting on a PO address.;)

di3004

ebayg1rl wrote: »

Afternoon all, is anybody familiar with the FSCS procedure and how long they take to payout?

I took out a car loan in 2002 and it appears that PPI was front-loaded. I tried a complaint to Citroen in 2009 and was told to go away and talk to the dealer. When I tried to contact the dealer it appears they have closed down and gone into liquidation several years ago. So following the Judicial Review (and a stiff drink - for courage) I sent another letter to Citroen in May 2011. I have just had a letter back that says that as my PPI was taken out before Jan 2005 then the dealership wouldn't have been covered by the "Insurance Mediation Directive" so I would have to take the matter up with the dealership, but as the dealership is defunct this isn't do-able. The FOS has also advised that it would be unlikely that the dealership would have been a member of the General Insurance Standards Council and regulated by the FSA so they don't consider that the complaint is something that they could look into. The letter then gives the details of the FSCS.

Help please.

Hi there

Seems like you've been going round in circles, the FSCS are probably quicker than the FOS at the moment, if the company that are no longer active are already in default and are listed with the FSCS you can make a claim through these, they may take a few months, approx 3-6 months, yet again depending if they are already in default or waiting to be going into default with the FSCS.

I understand though that the FSCS will only deal with cases if the company were regulated at the time you taken out the account, so I would check on that one with the FSCS first.

If this fails, then contact the FOS and explain, and they may suggest the underwriter/insurer avenue as they have done with many of us in the same position.

Hope this helps, good luck.:)