PPI Reclaiming Discussion part 4

showergirl

Natalie6999 wrote: »

I have just had my final answer from Marks & Spencer which is no.

They have sent me a copy of the application form which states "We strongly recomend you take cover by ticking this box"

On the letter they have said that Marks & Spencer Financial services acted as an unauthorised intermediary for the sale of PPI as they were not a bank or a member of the GISC at the time of the sale.

I have rung FOS who are unable to help me as Marks & Spencer were not regulated by the FSA at the time of sale.

Who can I turn to now?

Did you have a chargecard that was later changed to a M&S credit card

Incipience

Strongly advising taking cover when it is unsuitable is mis-selling, forgetting the fact that they were not regulated. You will just have to change tactics.

Nee Naw, continue with the nice approach for now, and see how that goes. You may be suprised, its better to catch a fly with honey than with vinegar.

Natalie6999

showergirl wrote: »

Did you have a chargecard that was later changed to a M&S credit card

Yes I Did.

nee-naw

Thanks Incip! I'm going to start writing the letter now. Can't thank you enough. You seem so cool, calm and calculating, just what they should fear!!!

showergirl

Natalie6999 wrote: »

Yes I Did.

Can you not go for the ppi from when it was changed to a M & S credit card

Incipience

unsurewhattodo wrote: »

hi

I have had a lloyds tsb platinum visa for 6 years now,yesterday i recieved a letter saying my ppi had changed.I always saw this on my statement but thought it was insurance on purchases made with my card it wasn't till i read the leaflet that i realised what it was.over the past 6 years i reckon i have paid around 5 grand towards this.I don't recall being asked by the bank if i wanted this as i would have said no because i was a stay at homemum at the time this would have been no benefit to me at all,i think it has been automatically added.Had i know i could cancel it i would have done i phoned yesterday and cancelled it straight away.Could i claim this back?

any advice would be greatly appreciated.. thanks....

You could try, but without knowing the finer details its impossible to look at it from a risk management view point.

Every claim comes with a risk or a probability of success. Personally I would say that any policy sold before 2005 was mis-sold, and although harder to get back the chances are higher than those with policies after 2005.

When claiming on Policies, it will either be suprisingly easy of exceptionally difficult, with nothing in between.

Your claim will be based on what you can prove, so in the first instance you have to understand what it is exactly you are claiming for. What are you arguments?

the key points are

• Where you told about the insurance?
• Do you have a pre exisiting condition that would exempt you from claims
• Were you employed more than 16 hours per week

These are just some examples of what you can prove, however you need a copy of the original agreement and policy documentation.

Natalie6999

showergirl wrote: »

Can you not go for the ppi from when it was changed to a M & S credit card

No I have spoken to FOS & they cannot deal with it as when I signed up they were not regulated by FSA.

maxdp

unsurewhattodo wrote: »

hi

I have had a lloyds tsb platinum visa for 6 years now,yesterday i recieved a letter saying my ppi had changed.I always saw this on my statement but thought it was insurance on purchases made with my card it wasn't till i read the leaflet that i realised what it was.over the past 6 years i reckon i have paid around 5 grand towards this.I don't recall being asked by the bank if i wanted this as i would have said no because i was a stay at homemum at the time this would have been no benefit to me at all,i think it has been automatically added.Had i know i could cancel it i would have done i phoned yesterday and cancelled it straight away.Could i claim this back?

any advice would be greatly appreciated.. thanks....

Hi Unsure

Yes send them a letter stating why you felt the PPI was not appropriate to you. If you look at the red Tab on the top of the page claim back 1000.s you will see more information.

Write stating your case from the template letters on the link above. Send the letter recorded delivery. They have 8 weeks to respond. Good luck and if you need any more info then please post again.;)

unsurewhattodo

thanx,
Idont have a copy of the agreement but if i write would they give me one,i don't remember as it's so long ago but because i wasn't working and at the time had no intention of going back to work i woulnd't have agreed to it.I remember going to the bank for a review and being asked if i wanted a credit card and being surprised that i got a platinum with a limit of 10500 and i didn't work!!
I really dont think i was asked if i wanted ppi or if i was then it wasn't explained to me what it was for.
I think i should maybe just try to reclaim it i don't have anything to lose but i may gain.
thanks for your quick respose.

Incipience

nee-naw wrote: »

Thanks Incip! I'm going to start writing the letter now. Can't thank you enough. You seem so cool, calm and calculating, just what they should fear!!!

I have learned that it is almost impossible to argue with these companies as they are are better trained in that sector than I am. However that is not to say that I dont bite when I have to.

You have to approach this with a clinical attitude, and you have to be fair, even if they are not. This will go along way should this result in legal action. The lender will see you as being fair and reasonable, and the Judge will see the same. So when they hit back at you being unfair and unreasonable it will work in your favour.

You can of course go in, all guns ablazing, however be prepared for the long haul.

Most of these companies are use to the Template Letters, from sites like this, and have there own template responses.

Now when they get a letter in your own words, and not quoting all the different laws and regulations, and demands. It throws them off guard.

Be Open to fair offers, and if they make you an offer that you think is unreasonable, then explain why it is unreasonable, and make a counter offer that you would be happy to accept.

By keeping a polite an open dialogue, again this will go a long way with the Judge, should it come to that.

Just outline the facts, and avoid personal opinions, treat this letter as you would writing to an employer.

If they start to become unreasonable, then forget the !!!!!footing about and then make an extreme tactical change, going straight from the Jugular, again throwing them off guard.

You will see some SAR templates about, however there is a more efficient and more threatning way to get this information that not only says, I know what I am talking about but it says, I mean business, once you are at that point drop me a PM and I will produce you a letter to send.

Best Of Luck to you.