PPI Reclaiming Discussion part 4

cappo

Joannie51 wrote: »

Hi cappo...how long did it take with the fos....and what was their reason for rejecting....just to see if it compares with mine and Eirelav complaints thanks.

took 10 months for the letter to come from the fos with there decision to uphold, the reason was basically exactly the same as yours ,i signed the tick box, they sent me t&c's etc

cappo

A little bit of light reading over your tea



http://www.financialreform.co.uk/payment-protection-insurance/




P.S disregard the push for the cmc's at the end of the link i could'nt delete it.

awhitmore

awhitmore wrote: »

Hi,
I'm looking for a letter that refuses their offer of refund of ppi. The bank have offered me £450 but owe me £2500. Is there a template letter for this please?

bumpetty bump

beamerguy

cappo wrote: »

A little bit of light reading over your tea



http://www.financialreform.co.uk/payment-protection-insurance/

Good reading Cappo.

For anyone who does not think the banks committed fraud, within the article it says

"Banks devised a cleverly constructed insurance product, that was designed not to pay out, due to strict terms and conditions and exclusions, and began to sell it along side loans, mortgages, credit cards and other borrowings. This product was Payment Protection Insurance or PPI, also known as:

THAT IS CALLED FRAUD, KNOWINGLY DEVISING A PLAN TO MAKE MONEY WITH NO INTENTIONS TO PAY OUT

di3004

awhitmore wrote: »

Hi,
I'm looking for a letter that refuses their offer of refund of ppi. The bank have offered me £450 but owe me £2500. Is there a template letter for this please?

Hi there

Do you mean a template letter to refuse the offer?

There is no template letter, but was there a reason on why they offered you the £450?
Was it an offer of goodwill, or have they missed something perhaps?

di3004

Totally_Confused wrote: »

Hi, I have received a letter from Capital one claiming that I "opted for payment protection insurance" on my application. When I phoned them to say that there is no way I would have done this they said it was a tick box. I said to them that this could have been done by anyone and that I have had no paperwork to suggest this has ever properly existed. How can I prove i didn't ask for it or them i did in this case?

Hi

How was it sold to you?

Phone, internet, leaflet?

If online, its already pre-ticked to what I am aware of, so it may have been missed where you could have opted out, if this is the case I would make them aware of that, and tell them it must have been pre-ticked and you must have then assumed it all part of the package.

di3004

cappo wrote: »

This is what we already know



http://www.which.co.uk/news/2011/11/financial-watchdog-must-stand-up-to-the-banks-270273?cmp=emmembers_pref

So true though, not enough is being done!
Good find Steve x:T:T

di3004

Totally_Confused wrote: »

Thanks for all your responses, I really appriciate the help and advice. I will keep pushing this. I haven't had a "final response" from them yet but will see what that says when it comes and then take it further. I am at my wits end with this and as i have said I have never received any insurance paperwork from Capital One to prove this has ever existed.

Hi

Its optional, but have you requested for your paperwork by requesting a Subject Access Request (SAR)?

They should comply to this request and send all data in relation of this account by 40 calendar days, and send data going back to at least the last 6 years, where some hold data from even earlier years.
You enclose the one off £10 payment by cheque or postal order and there is a SAR template letter below.
https://forums.moneysavingexpert.com/discussion/1475553

awhitmore

di3004 wrote: »

Hi there

Do you mean a template letter to refuse the offer?

There is no template letter, but was there a reason on why they offered you the £450?
Was it an offer of goodwill, or have they missed something perhaps?

They've upheld my complaint and thats their final offer. They've not shown what interest rate they've used to calculate the interest associated with the ppi premiums . So I've no idea how they arrive at the figure they quote. They certainly haven't used the 34.9% they were charging me !

g1fted1979

Hi,

I recently requested an upto date statement for the £8,000 60month Persoanl Loan that my partner and i took out in 2008 with Blackhorse to pay for our wedding.

They sent the statement which clearly shows a starting balance of 12,500 which is the loan amount including the interest and having made monthly payments of between £350 and £450 which are currently upto date i was suprised to still see a current balance of £10805.

This promted me to find the loan paperwork and i'm astonished to discover that including interest we are paying an additional £7,108.20 for Payment protection which amounts to more than half of the borrwowed sum. This means all in all we are paying back over £20,000 on £8000????

Can this be right? Can they charge this much? Do we have grounds to claim?

Please help!!:(