PPI Reclaiming Discussion part 4

maxdp

ANGIE54 wrote: »

HI wondered if any one could help me out have had two loans hsbc and aa ppi with both paid them both off early . have got no paperwork or acccount numbers is there any way i can get them so i can make a start on a claim

Hi Angie

Yes you can. If you ring them up and ask them for a copy of the original agreement that should be fine that costs 1.00. If they are not willing to do so or cannot find the records etc send a SAR letter you will find at the top on the first page of this thread. Send 10.00 to your lender adapt the letter to fit your requirements try to adapt it to make it a bit more personal. Send recorded delivery and give them 40 days to reply. They should send you all the information you require.

If you have no account nos there are a couple of things you may be able to do. If you have an Experian account you could look it up on there. You could subscribe but after the first month cancel your subscription.

Another thing is if you do internet banking you could look the account numbers up from there.

If this does not work the SAR will try to give them as much info as possibe. e,.g. DOB, address aat time you took the loans out that type of information.

Good luck and let us know when you hear something back and we can then guide you further.

Good Luck:D

di3004

ANGIE54 wrote: »

HI wondered if any one could help me out have had two loans hsbc and aa ppi with both paid them both off early . have got no paperwork or acccount numbers is there any way i can get them so i can make a start on a claim

Hiya hun

If these loans were taken off or settled within the last 6 years, write to their data dept to request copies of your agreements.

I note you said 2 loans from the company, so request for the 2 agreements, if your surname was different at the time as well, make sure they have these details and address as well, it may also be worth you adding your date of birth on the letter.

These normally cost £1 a copy, so for 2 of those requests for both agreements, enclose £2 to cover these in either a postal order or cheque payment, make them aware that the payment is to cover both the agreement requests, and you should expect to receive these by 12 days of request.;)

Post by recorded delivery.

If you require any further help, give us a yell, good luck.

Di
X

sue149

chriiiiiiiis wrote: »

I have had a letter today from the adjudicator to say the case is now with him and he's provided his contact details etc.

Does anyone know how long this stage would normally take?

I assume he already has all the documents he needs from Barclays?

I wouldn't say my case is complex, so can't imagine it to take much longer.

My first communication with the ombudsman was in May last year.

hi had my letter from the adjududicator about a month ago and just had our offer so it did nt take too long

di3004

sue149 wrote: »

hi had my letter from the adjududicator about a month ago and just had our offer so it did nt take too long

Yours was quick Sue, that is great.:T :beer: X

nd20

hi, does anyone know the address to complain to morgan stanley credit card for ppi miss selling? i know they have passed all their accounts onto barclaycard now but i originally took it out with morgan stanley.

thanks

di3004

nd20 wrote: »

hi, does anyone know the address to complain to morgan stanley credit card for ppi miss selling? i know they have passed all their accounts onto barclaycard now but i originally took it out with morgan stanley.

thanks

Hiya hun

This was the only one I could find - it has an email address as well, maybe you could send them an email who should be able to confirm the correct address for you in case this is not the correct one, good luck.;)

Morgan Stanley Bank International Ltd.
25 Cabot Square
London
E14 4QA

Morgan Stanley - Customer Service email - [EMAIL="customerservice@morganstanley.com"]customerservice@morganstanley.com[/EMAIL]

di3004

Some news for you, my mate posted this OTR and thought it would be useful here as well folks: Its quite a long read up here:

http://www.dailymail.co.uk/money/article-1162051/Banks-delaying-tactics-mis-selling-claims-leave-families-unable-pay-mortgage.html

Banks' delaying tactics on mis-selling claims leave families unable to pay their mortgage


By
Last updated at 9:15 PM on 14th March 2009

Families face losing their homes because banks are increasingly obstructing their complaints of being mis-sold loan insurance.


The law has recently been changed to protect new borrowers against mis-selling of payment protection insurance, but this does nothing to help the tens of thousands of complainants still waiting for refunds of premiums.


PPI is a form of cover that is supposed to kick in if borrowers cannot meet loan repayments due to sickness or redundancy.


The policies, extortionately priced and often worthless to borrowers who are self-employed or disqualified because of pre-existing medical conditions, were sometimes secretly added to the loans without borrowers' knowledge or consent.


In an attempt to stall compensation payments, many financial services companies are rejecting cases out of hand, hoping that complainants will either give up their claim or that they will take their case to the Financial Ombudsman Service, ensuring a long delay before a decision is made.


The majority of providers, including the High Street banks, are rejecting mis-selling complaints at an unacceptably high level, according to the Ombudsman. The FOS is so overwhelmed with complaints that cases are taking an average of up to nine months to be settled.



Trapped: XXX and XXXXX XXXXXXX'X arrears are mounting as they wait for a ruling on their PPI claim.


As Financial Mail reported last month, the Ombudsman has complained to the Financial Services Authority about certain firms, including one major lender where 100 per cent of the complaints against it are upheld, suggesting that the bank deliberately rejects every case regardless of merit. With several other lenders, 90 per cent or more of complaints are upheld, according to the Ombudsman.


The FSA appears to have done nothing in response to the Ombudsman's complaints. It has not publicly censured any companies for PPI complaints mis-handling, although the blanket rejection of complaints would be a serious breach of the regulator's requirement that banks treat customers fairly.


For homeowners in hardship, swift refunds are desperately needed. XXX and XXXXX XXXXXXXX, from Stafford, have two PPI mis-selling cases with the Ombudsman against defunct lenders Southern Pacific Personal Loans and Advantage Loans.


The cases have been with the Ombudsman since last July. The premiums for the PPI policies attached to their loans totalled a horrifying-12,000, which was added to their overall £47,000 borrowings and charged as an additional loan.



More...



The couple settled their loans in June 2007 by rolling the debt into their main mortgage. None of the PPI premiums was refunded at the time and, in addition, the couple paid hefty penalties to close the loans down.

The case is complicated by the fact that the loans were sold via a broker who has since gone out of business. The lenders argue they are not to blame.


But now the Haywards have run into serious financial problems-Ann, 32, was made redundant from her job designing store layouts for china manufacturer Wedgwood when it went into administration in January.


While XXX looks for work, she and XXXXX, 37, a self-employed tiler, have had to reduce the monthly repayments on their mortgage. It is a worrying time for the couple who have a 20-month-old daughter, XXX. 'We now have arrears on our mortgage, which is a huge worry,' says XXX.

'Our lender, Kensington, has been understanding so far, but will review the situation in three months.'


Ann adds: 'I'm desperately looking for work, but it is proving difficult. The refund of our PPI premiums would help us enormously and more than cover our mortgage arrears. In the meantime, we face the prospect of losing our home.'


The Ombudsman will fast-track cases where a complainant is in financial hardship or is seriously ill, but its systems are groaning under the mounting PPI caseload.


The XXXXXXXX'X applied to be fasttracked, but their case was first thrown out because the Ombudsman mistakenly thought their complaint referred to the mis-selling of the loans rather than the PPI.

The couple are waiting to see whether the Ombudsman will now allow them to be fast-tracked.


XXXXX XXXXX is managing director of XXXXXXXXXXXX, a claims handler that specialises in PPI cases. He has had more than a dozen clients with hardship issues, but says being fast-tracked by the Ombudsman is not necessarily as good as it sounds.


'It takes approximately ten days for a fast-track application to be considered and even if the Ombudsman agrees to fast-track a case, it still has to be investigated by an adjudicator,' says Bloor.


'So there is still a delay on top of the wait borrowers have already had with their lenders before they rejected the complaint. For homeowners in arrears, every week that passes without a decision is stressful. Their situation is usually deteriorating all the time.'


XXX XXXXXX, FSA director of retail policy, says: 'We are taking a keen interest in this matter. Now is not the time for companies to be cutting back on resources in this area.'

At last, FSA acts over PPI racket

Financial Mail warned of the payment protection insurance racket being operated by banks and other financial services companies as far back as December 2002.

But only now, after a Competition Commission investigation into the £4 billion-a-year PPI market, is the Financial Services Authority preparing to enforce new rules about the way the cover is sold.


The sale of single-premium PPI on unsecured personal loans will be stopped by the end of May.


With a single-premium policy all payments are rolled into one lump sum, usually amounting to thousands of pounds, and added to the loan so the borrower pays interest on the total sum.


And from October next year, no lender or insurer will be able to sell PPI along with a loan or credit card.


Providers will have to wait seven days before approaching the borrower about payment insurance cover, though the customer can ask for cover 24 hours after being sold the loan.

katieb2007

Hi All

Early last year, I started the process of complaint letters to LTSB for a credit card I had as a student, where I believe I was miss sold Payment Protection Cover. I had the final letter from LTSB on 15th August 2008, saying that I have 6months to take the case to the FO. Foolishly, I didn't take the case any further, but would now like to - am I too late to pursue this with the FO? Also, in my last letter to them, I also requested that they cancel the payment protection cover, which they have not (I still have the card but don't generally use it).

My re-newed interest in this was spurred on by a letter from the FO yesterday saying that LTSB are willing to payout for PPI on a graduate loan I had where I was miss sold PPI - exact amount TBC, but I feel quite smug about it! Thanks to all who helped out when I started to reclaim.

Any advice would be gratefully received
Kate

sue149

di3004 wrote: »

Yours was quick Sue, that is great.:T :beer: X

we stated the fight for our cash about sept not got our cash yet but not:rotfl: too long

di3004

katieb2007 wrote: »

Hi All

Early last year, I started the process of complaint letters to LTSB for a credit card I had as a student, where I believe I was miss sold Payment Protection Cover. I had the final letter from LTSB on 15th August 2008, saying that I have 6months to take the case to the FO. Foolishly, I didn't take the case any further, but would now like to - am I too late to pursue this with the FO? Also, in my last letter to them, I also requested that they cancel the payment protection cover, which they have not (I still have the card but don't generally use it).

My re-newed interest in this was spurred on by a letter from the FO yesterday saying that LTSB are willing to payout for PPI on a graduate loan I had where I was miss sold PPI - exact amount TBC, but I feel quite smug about it! Thanks to all who helped out when I started to reclaim.

Any advice would be gratefully received
Kate

Hi Kate

Just to make sure I have this right now, do you mean you were given a Final response which they did not uphold in your favour, where then you could have taken this to the FOS to have this investigated and you did not take this up at the time?


Cheers.