PPI Reclaiming Discussion part 4

amersall

pinknico wrote: »

Wow busy day on here today! Well done amersall, Max and Di for keeping up and helping everyone.xx

Special hello to Toffee Penny, well done on your claim.xx

hi pinknico. how are you today? i am going to get ready for work in a mo, am doing 4-10 today so will not get back on till tom bye for now x

ves

Hi
Does anyoe know whether my husband and I would be able to claim for a business loan we took out as co-directors of a limited business - could that have had PPI added? The business has since folded so all the paperwork is archived - I know we need to dig it all ut and search through but if anyoe knows if this wouldn't apply anyway, it will save us a massive job!!
Thanks v much

di3004

ves wrote: »

Hi
Does anyoe know whether my husband and I would be able to claim for a business loan we took out as co-directors of a limited business - could that have had PPI added? The business has since folded so all the paperwork is archived - I know we need to dig it all ut and search through but if anyoe knows if this wouldn't apply anyway, it will save us a massive job!!
Thanks v much

Hi there

Yes you can try.

If the company have gone out of business, maybe they liquidated or something like that or were taken over, first of all I would check with companies house on the Company search box, which will give details of whom to write to in case you need some paperwork to go by, if you have your account number to help your case that should be fine, you should be able to track this down on any bank statements, when the repayments were taken out by DD, the acount number should be shown next to that.

Companies house search here:
http://wck2.companieshouse.gov.uk/a79396a21fb6ed85ea5d87cb6cb4d7f2/wcframe?name=accessCompanyInfo

Of another way is to contact the Financial compensation scheme (FSCS) ask if they are registered with them, if this is the case you can claim through these.
http://www.fscs.org.uk/

I would ring the FSCS, and if they are registered with these, they should arrange to post out a claim form to you.;)

Good luck and please keep us posted.

di3004

pinknico wrote: »

Wow busy day on here today! Well done amersall, Max and Di for keeping up and helping everyone.xx

Special hello to Toffee Penny, well done on your claim.xx

Hi Pinknico

How are you.:A;)

Hope your well and your eyes.X

Trying to catch up again lol. XXX

Toesdugin

I sent a complaint about ppi to Egg 3 weeks ago and just got a letter from them saying that as I applied online there is no mis-selling involved - they say they told me to read the T&C's and that's that - they also say there's no advisory service with online applications. There are a number of things involved though -
1. I took out the care in 2000 - does that mean the ombudsman can't help?
2. We had only been in the UK for 2 years when I took the card out - I had already purchased cover for Death, Critical, illness and disability when we took out our mortgage. (A good one, from a separate entity) and I didn't understand that since I had that plus good cover from work for sickness etc
3. I'd never applied for a card online ever before and didn't understand that I had taken PPI in the first place
4. They've sent me my "Application" and it shows PPI where they say it should say none if I hadn't agreed to it, but I don't think I asked for it as I don't remember any section on their online form that explained it.

So, does anyone have any advice for me now - this probably adds up to over 5,000 pounds and I'm not happy about losing it all. I'd really appreciate any advice anyone has to offer.

di3004

Toesdugin wrote: »

I sent a complaint about ppi to Egg 3 weeks ago and just got a letter from them saying that as I applied online there is no mis-selling involved - they say they told me to read the T&C's and that's that - they also say there's no advisory service with online applications. There are a number of things involved though -
1. I took out the care in 2000 - does that mean the ombudsman can't help?
2. We had only been in the UK for 2 years when I took the card out - I had already purchased cover for Death, Critical, illness and disability when we took out our mortgage. (A good one, from a separate entity) and I didn't understand that since I had that plus good cover from work for sickness etc
3. I'd never applied for a card online ever before and didn't understand that I had taken PPI in the first place
4. They've sent me my "Application" and it shows PPI where they say it should say none if I hadn't agreed to it, but I don't think I asked for it as I don't remember any section on their online form that explained it.

So, does anyone have any advice for me now - this probably adds up to over 5,000 pounds and I'm not happy about losing it all. I'd really appreciate any advice anyone has to offer.

Hi there

You received the standard fob off response that most receive when buying these policies online, so don't worry about that, if you have good reasons, stick to it and if this was the first response, write back and tell them you want this reconsidered or you will get advice and take this matter further.

Keep on at them until you receive the final response, if eligible they will let you know in the final response about the FOS.

However, if they were not regulated as such by either GISC or FSA who taken over in Jan 2005 normally the FOS are unable to investigate.
I have read on one of the threads today that someone elses case was an oldish case and now that FOS are able to look at ALL PPI complaints, so I have emailed the FOS for more information on this, and will post up when I hear.

Despite that, if this was the final response, I would contact the FOS direct by telephone and ask them, this way you will know one way or another, good luck.
http://www.financial-ombudsman.org.uk/contact/index.html

soontobesensible

rosemahairy wrote: »

Hi Elaine out of interest when was your black horse loan dated? I'm claiming PPI back from black horse for my Mum, so far i had a letter back basically saying, bugga off you weren't miss sold and we are going to hide behind the fact that at the point of sale (2003) they werent FSA regulated. If they are'nt FSA registered the Ombudsman probably can't help. argh!

I have wrote back saying that the FOS aren't the only option i will take them to court to reclaim the money. I am waiting a reply but if it's a final response of no then i will help her go to court. She has a really good case at the point of sale her employment was only about 12hours and she had recently had clinical depression....2biggies on the miss selling checklist but did they check?? Did they heck so shes been charged money for nothing like all the other victims. Keep us posted.........:rolleyes:

Hi rosemahairy,
I to had a loan with black horse finance when they weren't FSA regulated. I am also planning to take them to court (thought about moneyclaims online route) but need to write the usual letters first. Will keep you informed of my progress or lack of and we can compare notes!

rosemahairy

soontobesensible wrote: »

Hi rosemahairy,
I to had a loan with black horse finance when they weren't FSA regulated. I am also planning to take them to court (thought about moneyclaims online route) but need to write the usual letters first. Will keep you informed of my progress or lack of and we can compare notes!

How far have you got? I have gone well beyond the 8weeks normally given. I have sent them another letter telling them in no uncertain terms i will be taking court action to recover the funds if they dont reimburse me. no reply as yet....... not sure whether to just get on with it and hit them with the court action or call first? its a new area for me this

mitooki

Hi,

Sorry if these are stupid questions!

Not sure if I have a case for reclaiming, here's the details:
I took out a loan with Egg by phone of just short of £22k in June 2004 with £5.5k of PPI added on top. The loan fully repaid an existing Egg loan and some other debts. I don't recall exactly what was discussed on the phone but I remember taking away the impression that I'd be much more likely to be accepted if I took out the PPI; I think they went away to work it out before calling me back. I definately wasn't aware that insurance could be taken out from a company other that the lender.

Does this seem like a worthwhile claim?

I read that Egg have been fined for PPI but this was for Egg Card - how does this affect Egg loans?

I don't have the details of the previous paid off loan (or even whether I had PPI on it) - should I include this in my complaint?

Thanks for any help.

beaniebabe

I received information from FSCS today. Don't know what you think of it!:rolleyes:



Thank you for your E mail of 2 June 2009 about your claim for compensation against Picture Financial Services Plc.

As you are aware, the Financial Services Compensation Scheme (FSCS) is only able to consider claims against firms that have been declared “in default”. This is the legal process that allows the FSCS to step into the shoes of the firm and assume responsibility for the review of claims received and, where applicable, the payment of compensation. To date we have not been able to complete the process that would allow us to publicly declare that Picture is “in default”.

We are satisfied from our solvency investigation of the firm that Picture do not have the funds to meet claims received. Therefore, it seems inevitable that the firm will be declared “in default” by the FSCS. At this stage I am afraid that I am not in a position to provide you with a definite timeframe in which the declaration of default will be made. However, I can confirm to you that our publicly stated aim is to complete claims within six months of the date of default or receipt of the completed Application Form, whichever is the later.

The main issue holding up the declaration of default is that Payment Protection Insurance (PPI) is a new area of work for the FSCS. Therefore, before we can commence the review of claims we have to undertake work to set out the criteria for the review of claims, in line with our rules and policies, that is both fair and consistent for all claimants. That work has been time consuming and involved liaison with others in the regulatory sector, referring the matter through senior management and the Legal Department at the FSCS, and recently to Board level, to obtain agreement for the methodology to be used. Work in this area continues and we hope that we will be in a position to finalise our processes for reviewing claims within the next few weeks.

Once we are in a position to declare Picture ”in default” it is our intention to process all claims as quickly as possible and, as part of that process, we will be involving Deloittes, a firm of outsourcers who will assist with the reviews. Each claim is considered on its own merits and the facts presented. Therefore, as well as possibly contacting the claimant for further information, it is likely that we will have to contact third parties, over whom we have no jurisdiction, and ask them to provide relevant information. Although this may lead to delays in the time taken to process individual claims, I would reiterate that we will do all we can to resolve claims promptly.

If you have any further questions, please telephone our helpline on 020 7892 7300, and we will be happy to be of assistance.