PPI Reclaiming Discussion part 4

marshallka

showergirl wrote: »

Marshallka,

Did Natalie6999 not have the same problem with her M&S agreement.
Like you have said give the FOS a ring and see what they say

I would always say to ring them first as I would not want anyone sending a complaint into FOS and there to be jurisdiction issues after waiting months. I know natalie has been told this but others have not.

MSE Wendy said she had spoken to FOS and nothing had changed re what they can and cannot look into yet. I know there is talk of wider implications but nothing has been announced I as I know to yet. I actually rang myself and asked after reading on here that FOS are now looking into ALL ppi complaints (considering is different as considering is something they have always done but often they consider and say "no can do") and was told that they have to go by what regulations say. I will give them another ring myself and ask. Let you know later what they say.

di3004

amersall wrote: »

hi max, yes i am fine x luv your sig!!!!!

Hi amersall,

Hope your well as well.;)


Max's sig is cool isn't it? lol.:D

jenbo

Can anyone help please ?


I sent the 1st initial letter asking for a copy of my agreement for my New Look Card which i think was GE Capital, they have sent a reply asking to enclose £10 ! Is this the normal amount, I thought it was only a charge of £2 ??

cot1198

marshallka wrote: »

What date was your loan and who with?

1st loan june 2005 GE Money arranged by Ocean Finance and mortgages
2nd loan july 2006 Nemo Finance arranged by Ocean Finance and mortgages

money from 2nd loan used to pay off 1st loan
paid off 2nd loan july 2007

I don't think I had value for money from either policies

weeang_2

di3004 wrote: »

Hi weeang

I take it this was the final response from RBS?

If so and they have suggested the FOS, then I would then move this on to the FOS, you have a higher chance of the FOS resolving this for you.
You can download a complaints form on the FOS website, or ring them to arrange for them to post this out to you, and remember as well to enclose copies of correspondence from RBS with the complaints form.
I would go for it.;)
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

There are many that go this direction after, if the business your complaining about does not resolve in your favour, it generally goes in your favour with the FOS, good luck. X

Hi Di
They said on the letter that they would be grateful if I would provide them with an opportunity to consider my reasons prior to referral to the FOS.

marshallka

cot1198 wrote: »

1st loan june 2005 GE Money arranged by Ocean Finance and mortgages
2nd loan july 2006 Nemo Finance arranged by Ocean Finance and mortgages

money from 2nd loan used to pay off 1st loan
paid off 2nd loan july 2007

I don't think I had value for money from either policies

Hi, these are within dates of the regulation of insurance anyway so no worries there. They were taken out after the FSA took over being January 14th, 2005.

Can I add, if this does go to the FOS then make sure you let them know that the 2nd loan was to pay for the 1st as there is a formula that FOS uses for this I understand.

cot1198

marshallka wrote: »

Hi, these are within dates of the regulation of insurance anyway so no worries there. They were taken out after the FSA took over being January 14th, 2005.

Can I add, if this does go to the FOS then make sure you let them know that the 2nd loan was to pay for the 1st as there is a formula that FOS uses for this I understand.

Thanks for that

both have been with the FOS for nine months and are, I understand being looked at under the same ref number and I have made the FOS aware that the second loan was used to pay off the first.

Do you know what is involved with this formula and why they have a different one in this sort of complaint?

di3004

weeang wrote: »

Hi Di
They said on the letter that they would be grateful if I would provide them with an opportunity to consider my reasons prior to referral to the FOS.

Hi weeang

Cool, I would write back then and tell them you stand by your reasons for why you believe you were mis sold, and if there is anything else you can think of write that as well.;)

marshallka

cot1198 wrote: »

Thanks for that

both have been with the FOS for nine months and are, I understand being looked at under the same ref number and I have made the FOS aware that the second loan was used to pay off the first.

Do you know what is involved with this formula and why they have a different one in this sort of complaint?

Maxdp's post here may help.

http://forums.moneysavingexpert.com/showthread.html?t=1596473

I'm sorry I do not know how this is done.

the_truth_is_out_there_4

Hi there everyone, I'm an IFA, seen a client, Black Horse Loan of £35,000 over 10 years.....PPI sold as a block policy to cover the £35,000 loan and ASU to cover the monthly repayments......Cost ????



£19800 plus interest at 9.4% giving an additional cost of £10,517..in total £30,400 over the 10 years

I've done quick calculations, that same cover could be provided on a monthly basis for £7,024 in total over the 10 years...that's a damn sight less than £30,000

Watch out Black Horse cos here I come !!!!!