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PPI Reclaiming Discussion part 4
Comments
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Hi guys this is the first time I'm using this site and I need a little help about my ppi. Me and my wife took a loan out in 2007 at first I didn't want to purchase the ppi and said we would look at another insurance company If we thought we needed it. The guy at lloyds tsb then said if you don't purchase the ppi then you wont be able to have the loan.
We were both at the time on full sick pay with benefits but because we really needed the money and no one else give us a loan we had to say ok as we were basically told it was compulsory. The pip including interest is worth £5700. So was wondering if I have grounds for a complant.0 -
weechicken wrote: »Hi All
sorry for long letter but would appreciate if you's could have a look at it before I send, Cap 1 rejected my complaint saying I ticked box and I was eligible for ppi, I know I wouldn't have ticked it cause there was no other paperwork re ppi or anything it was just app form. The letter:
Dear Sir or Madam
Account No.
I am writing with regards to your letter dated 24th May 2011, obviously I am extremely disappointed that you believe the policy was sold appropriately whilst I appreciated that you have advised I can take my complaint further by contacting the Financial Ombudsman Service.
However before doing this I would like to give you the opportunity to reconsider your decision on the basis of the points below:
1. In your letter you refer to Terms and Conditions/Exclusions and Limitations
As already stated in my original complaint I have never received any policy leaflet about PPI and I certainly have never received any policy certificate or full policy document, which is why I never realised what it was nor knew about any 30 day cooling off period.
2. PPI Addition
You have referred to the fact that I apparently “ticked the box” to agree to this policy therefore I knew it was optional and made a conscious decision to purchase the PPI. Further to my original complaint I clearly remember completing the postal application form leaflet in 2000 as it was the first time I had applied for any sort of credit and I can say without any doubt that the only leaflet I had was the application form itself, which is why I know I would have left the box blank because I did not know what it was. However the FSA document PS10/12 Appendix 1 Final Handbook Text paragraph 3.3.5 states that “the firm should not reject a complainant’s account of events solely on the basis of signed documentation relevant to the purchase of the policy" – Your response seems to contradict this guidance as you are basing your decision on the fact I apparently “ticked the box”
3. You also refer to my eligibility criteria for the policy, considering I have never received anything in regards to the policy how would I have known if I was eligible or not.
4. You have also stated in your letter dated 24th May 2011 that enclosed is copy of the application form, PPI overview leaflet and policy document, none of which is included.
In addition to my recent subject access request some information I requested has not been enclosed therefore I require the following information immediately:
1. True copy of original application form, an exact copy of policy summary, certificate, and policy document allegedly sent with the benefits and exclusions, dated when my account was opened in June 2000.
2. True copy of signed Credit Agreement and conditions relating to date I opened account in June 2000.
3. Transcript of telephone calls dated 8th August 2010, 9th August 2010, 29th June 2002, 28th February 2003, 3rd May 2001, 23rd April 2001, 29th March 2001, 15th December 2000, 22nd September 2000, 16th August 2000 and 23rd July 2000.
4. Copy of letter dated 30th January 2007.
5. Meanings of the memo types and descriptions.
6. Also date my first card was activated in 2000, as cards activated at later dates are noted.
7. Full details of Product info (shown on screen print) stating the start and end date of policy, which seems to contradict the start date of the policy in which you stated previously.
I trust this matter will be dealt with urgently and I await your response within 10 days.
Yours sincerely
Hope someone can advise, thanks in advance
Excellent letter!:T:j well done.
Get this posted by recorded delivery and in my opinion it looks like you've covered all that applies to you, so go for it, good luck.The one and only "Dizzy Di"0 -
I'm the exact same! i was under the impression the PPI was needed for me to get the loan but what lloyds TSB did was increase my loan to cover the PPI so instead of the £8000ish loan i wanted i had to get a loan for £10000ish as teh extra £2000ish was to pay for the PPI!
I sent the FOH questionaire off a week ago and awaiting now.
i tried to cancel my PPI tho last week and on my first aggreement with them it said i will pay £222 per month and thats £176 loan and £46 PPI but when i asked to cancel they said it would only reduce to £205??
is this right?? as i thought it should go down to £176 again.
Any advice on this would be greatfull.0 -
I'm the exact same! i was under the impression the PPI was needed for me to get the loan but what lloyds TSB did was increase my loan to cover the PPI so instead of the £8000ish loan i wanted i had to get a loan for £10000ish as teh extra £2000ish was to pay for the PPI!
I sent the FOH questionaire off a week ago and awaiting now.
i tried to cancel my PPI tho last week and on my first aggreement with them it said i will pay £222 per month and thats £176 loan and £46 PPI but when i asked to cancel they said it would only reduce to £205??
is this right?? as i thought it should go down to £176 again.
Any advice on this would be greatfull.
Wait to see if you win mis sell and then the whole ppi comes off the loan and your monthly payment will reduce by the monthly ppi amount.
Plus you get the ppi back that you paid to date with interest and 8%.0 -
Further to my question asking if First Plus are paying all claims I have since spoken to my solicitor who says they are contesting my claim and they have until mid oct. to put their defence and it could go to court early next year apparantley they are paying some and others not but why they don't know as my claim is about 25 grand that's why he thinks0
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Hi wilfymusic
i did my complaint to Barclays on the same day as you so thought i will give them a call as well - they told me the final response would be sent out on Tuesday next week - which no did you use to call them as the people i spoke to wouldnt tell me anything other than the letter was due to be sent. i used 0845 002 1149(took them forever to find the right claim as well).0 -
Please do not cancel the ppi,if you do, the ppi less the small (very) small rebate they give you will still be on the loan,the only money you save is the portion amounting to the rebate.
Wait to see if you win mis sell and then the whole ppi comes off the loan and your monthly payment will reduce by the monthly ppi amount.
Plus you get the ppi back that you paid to date with interest and 8%.
Thanks for that reply Amersall!
I got appointment in my bank tomorrow to talk about my loan so you think i should cancel appointment!
Thing im worried about as the bank has 16 weeks to reply to me and im worried if i dont get my claim accepted i would of paid 16 weeks worth of PPI so i wanted to cancel that now to stop paying it.
but i will wait if it really is best option ?!?!?!
Plus i sent the FOS questionaire about a week ago will they send a letter saying they have received it or anything and should i call them at any point to check they are checking the claim??0 -
phil_coxon wrote: »Further to my question asking if First Plus are paying all claims I have since spoken to my solicitor who says they are contesting my claim and they have until mid oct. to put their defence and it could go to court early next year apparantley they are paying some and others not but why they don't know as my claim is about 25 grand that's why he thinks
Is yours a difficult claim,as in the year or through a broker?,i dont understand why this may go to court.0 -
Thanks for that reply Amersall!
I got appointment in my bank tomorrow to talk about my loan so you think i should cancel appointment!
Thing im worried about as the bank has 16 weeks to reply to me and im worried if i dont get my claim accepted i would of paid 16 weeks worth of PPI so i wanted to cancel that now to stop paying it.
but i will wait if it really is best option ?!?!?!
Plus i sent the FOS questionaire about a week ago will they send a letter saying they have received it or anything and should i call them at any point to check they are checking the claim??
Hi Leon
Its up to you, but personally I would not bother, in case they try talking you out of it.
Deal with it in writing or complete the questionnaire as on their website.;)
Sorry missed the part leon where you have already completed the questionnaire, email them or ring them.The one and only "Dizzy Di"0
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