PPI Reclaiming Discussion part 4

di3004

skintmumofone wrote: »

Thanks you guys my friend asked me to do it thought she was putting us all down for the 5k turns out its the 10k so will be stiff as a board come the monday morning lol. First time I have ever done anything like it so I suppose I will be feeling good that I am doing something for a good charity.

There are 19 of us and about 10 mums from the nursery doing it so have been walking, practising on my wii doing the hula hoop, ski-ing skateboarding on the ea active sports and playing tennis and baseball and its a great workout believe me - also have a dance mat hehe so havent had a shot of that yet keeping that for the bbq nite when everyone of my guests will be pie eyed and I will be sober as a judsh hehe :beer::rotfl:
Got another letter from the FOS saying they were dealing with my complaint god knows which one as I have so many with them? Welscum have been on the phone too but they phone at like 3 in the afternoon? I am at work god they never learn!

lol, well it sounds like you've had a fun time, cool and good for you all :beer::D.

Good luck with your complaint(s) then, hope you win them all.;)

Money_Lawyer

Hikui wrote: »

Hi again folks

I posted last week about progress on my claim - RBS had been in touch to ask for more information just as the 8 weeks was about to run out. I sent the information off to them on Thursday or Friday and was surprised to get their response this morning!

The letter basically pointed out that I had no case etc etc, which I was expecting; what I wasn't expecting was a 'goodwill gesture' of £750. So, do I take the safe money now OR press on with the next stage? I think i'm leaning towards the latter at the moment but wondered what you guys would make of it

If I were the RBS, i too would send you that letter and hope you would go away. When we sue banks, to get a rough idea of what is due for the client.... have a look at the PPI amount. For example, let us say £5000 is the amount of the PPI (put the interest to one side for now). approx 50% of this amount will be a secret commission. With the remaining amount (£2500), a small portion will pay for the bono fide policy (maybe 20%) and the remaining amount will be a FURTHER kickback to the loan company....... nice. This is not an exact formula, but it is not too far from the truth.

Have a look at your loan document, check the PPI. YOu have a number of options if you have a case and normally most people do. For example.... return of PPI, secret commissions return of interest etc.

Drop me a line if you need a bit more help.:p

jaymeme

hiya, 1st ever post, so sorry in advance if this is wrong

I wrote to natwest using the temp letter from this site (thank you), after 8 weeks I recieved a letter offering £758.03 as a goodwill gesture, I want to take the offer, I sent a letter asking for a cheque as the account with natwest is with a recovery dept which we are paying off monthy, natwest advise that this is no longer a current account as I can use it only to make payments, in the letter with the goodwill gesture they say it is there policy to make the payment electronic to the live current account, I called them & asked for a copy of the policy, I'm told they dont have one for me to read its an internal one, so ask for a copy of that, it turns out they dont have a policy at all, I then asked for a cheque again as they dont have a policy to pay the money into the natwest account, the man on the phone then told me we were going around in circles & that natwest will not pay me my money unless it goes to the natwest account & then told me to go to the ombudsman:mad: I have another claim with them that they are still loooking into, can anyone help please

di3004

jaymeme wrote: »

hiya, 1st ever post, so sorry in advance if this is wrong

I wrote to natwest using the temp letter from this site (thank you), after 8 weeks I recieved a letter offering £758.03 as a goodwill gesture, I want to take the offer, I sent a letter asking for a cheque as the account with natwest is with a recovery dept which we are paying off monthy, natwest advise that this is no longer a current account as I can use it only to make payments, in the letter with the goodwill gesture they say it is there policy to make the payment electronic to the live current account, I called them & asked for a copy of the policy, I'm told they dont have one for me to read its an internal one, so ask for a copy of that, it turns out they dont have a policy at all, I then asked for a cheque again as they dont have a policy to pay the money into the natwest account, the man on the phone then told me we were going around in circles & that natwest will not pay me my money unless it goes to the natwest account & then told me to go to the ombudsman:mad: I have another claim with them that they are still loooking into, can anyone help please

Hi there

Personally I would go to the FOS about this, with all the messing around your having here.
But its entirely up to you, or give the FOS a ring first and see what they think.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Good luck hun, please let us know what they say, cheers X

stereo_mike

I thought I would let you know how the FOS are currently dealing with comlpaints, following a meeting I have had.

The FOS's view on single premium policies is to basically uphold every complaint, although they have to look like they give the company that sold the policy the chance to defend the sale. Even if the company can defend the sale, the FOS will find something to uphold it on, especially if it goes to an Ombudsman.

On the back of the figues the FOS have published they have stated that they upheld 89% of PPI complaints. You will note that the FOS have not split this between single premium and monthly, this is basically due to the fact the FOS would have to admit they are upholding 99.999999% of single premium policies. Basically the 11% of PPI complaint the FOS are not upholding are monthly premium policies, as these are deemed more suitable for a client.

You will note that the FOS's stance on PPI complaints has changed as the previous year they only upheld 50%.

Company's that sold single premium PPI policies (now banned) are between a rock and a hard place, as if the complaint goes to the FOS it will be upheld, and if the company tries to defend the complaint, and it goes all the way to the Ombudsman the complaint will then be upheld and the Ombudsman will order the company to pay further D&I due to delaying the client receiving the premium and interest (This amount is currently £200).

Company's cannot contest a decision once an Ombudsman has reached a decision, although they can at Adjudicator stage.

The FOS are also taking on average 12 months to investigate a complaint.

To conclude if you think you have been mis-sold a single premium PPI policy, and the FOS can look at it, you have a 99.999% chance of getting your money back, you just need to be patient harassing them day and night will just get your case put to the bottom of their ever increasing case loads. At the end of the day the redress payment will include interest up to the date the matter is concluded. In addition if the company then drags its feet, and does not pay out within 30 days, go back to the FOS, and they will make the company pay extra interest.

I thought I would put this as a lot of people are moaning about how long there case is taking, and are worrying if they should take there case to the FOS. My advice if you were sold a single premium policy, and the company that sold it to you doesn't offer a full refund plus interest then take it to the FOS without a shadow of a doubt (It will also cost the firm another £500 for the FOS to look at it)

di3004

Thanks so much for posting this Stereo_ Mike, much appreciated by all.
Cheers.;)

dialysis

Hi As you all know I am currently waiting for the FSCS to put Picture in default, like many, I am also having my house repossessed by the now compnay Picture home laons. After taking legal advise I have stopped paying my mortgage and am now being threatened with repossesion from them also, it never rains it pours. I spoke to them this morning and although they are sympathetic there is nothing they can do. Anyway we are resigned to the fact that we have lost so have sought other accomodation. My mortgage company suggested getting in touch with the FSCS to tell them my situation this I have already done, but she also mentioned the financial hardship scheme and advised us to get in touch with the FSCS about this. Does anyone have any info about this, what it is and how do we claim it. Thanks Dialysis

moo_cow

hi all, does anyone know if there is an email address for lloyds tsb insurance, tredegar park, newport.

di3004

moo_cow wrote: »

hi all, does anyone know if there is an email address for lloyds tsb insurance, tredegar park, newport.

Hi there

Not sure about a direct email, but you can ask Internet banking to send your email to the correct department, but ask them also to confirm they have done this as well.
[EMAIL="Internet.Banking@lloydstsb.com"]Internet.Banking@lloydstsb.com[/EMAIL]


Even though I take it you have the address but its here anyway:

Lloyds PPI
Customer Care
Lloyds TSB Insurance
Tredegar Park
Newport
South Wales
NP10 8SB
Tel 0845 3005599
Fax 01633 468835


Good luck.;)

di3004

dialysis wrote: »

Hi As you all know I am currently waiting for the FSCS to put Picture in default, like many, I am also having my house repossessed by the now compnay Picture home laons. After taking legal advise I have stopped paying my mortgage and am now being threatened with repossesion from them also, it never rains it pours. I spoke to them this morning and although they are sympathetic there is nothing they can do. Anyway we are resigned to the fact that we have lost so have sought other accomodation. My mortgage company suggested getting in touch with the FSCS to tell them my situation this I have already done, but she also mentioned the financial hardship scheme and advised us to get in touch with the FSCS about this. Does anyone have any info about this, what it is and how do we claim it. Thanks Dialysis

Hi Dialysis hun

Bless you.....going through all this.

I am not sure in regards of financial hardship within the FSCS, I would contact them if you can and tell them what you have been told, good luck hunni, keeping everything crossed for you.:A
Di
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