PPI Reclaiming Discussion part 4

sc4rl3t

Hi All,
We're not sure if anyone can help, but here goes-
We took out a loan with Welcome Finance in Aug last year- they stated to us that the PPI would be costing £8.00 per month so we took this out. The whole signing up process was very rushed, as my husband works away driving, it was going to be another week before we could get back into the office to finalise and sign for the loan, so the man who was dealing with it post dated the agreement and got us to sign- we have proof that my husband wasn't in the country. Last week we recieved our first statement to find that they had stuck on almost £4000 for the PPI - we were gob smacked to say the least- this was never explained to us and we would never have taken it out if we knew. My query is that in Nov of last year, my husband lost his job and we had to claim through the insurance, they paid 2 months for us- well worth the 4 grand!! - Do we still have the right to cancel and reclaim our money back? Also, under the very dodgy way that this loan was set up, do you think it could be worth looking at whether anything else could be done against the company?
Thanks all!!!

di3004

showergirl wrote: »

Can someone tell me how long A&L have to respond to the letter from the FOS asking for your files.

Nassie asked me but I could not remember

Hi Showergirl.;)

I think once the case have been passed on to the adjudicator, if straight forward the norm is usually 6 weeks, although depending if they agree or not then ask for more time, where normally they do, hopefully nassie will hear soon. XXX

Charliemeg_2

After complaining to L&G after a review of our insurances on our mortgage they have admitted we were missold a PPI in 2006. They have offered us our premiums back (£630.45) to date and told us to write to a company called Adminicle (the company who sold us the policy in 2006 now under another name) to cancel the policy and get our money back but that's all.

The advice I need is that this single premium was taken off us in August 2006 but as yet has not been used and was scheduled to be used in September 2009 - it has been sitting in their bank for 3 years!

I believe we can ask for not only the premiums we have paid, but the interest on the premium and 8% per premium that a court would give. The advice I need is what can we ask for in regards to the full amount of money (£4,560.00) which was paid to them in August 2006 and has been unused by them for 3 years and who do I ask for it. L & G or Adminicle.

This is our first time reclaiming anything and any advice would be greatly appreciated. Thank you

di3004

Charliemeg wrote: »

After complaining to L&G after a review of our insurances on our mortgage they have admitted we were missold a PPI in 2006. They have offered us our premiums back (£630.45) to date and told us to write to a company called Adminicle (the company who sold us the policy in 2006 now under another name) to cancel the policy and get our money back but that's all.

The advice I need is that this single premium was taken off us in August 2006 but as yet has not been used and was scheduled to be used in September 2009 - it has been sitting in their bank for 3 years!

I believe we can ask for not only the premiums we have paid, but the interest on the premium and 8% per premium that a court would give. The advice I need is what can we ask for in regards to the full amount of money (£4,560.00) which was paid to them in August 2006 and has been unused by them for 3 years and who do I ask for it. L & G or Adminicle.

This is our first time reclaiming anything and any advice would be greatly appreciated. Thank you

Hi there and welcome.;)

If they have admitted this was mis sold then yes your right, you are entitled to that of the interest paid on top of the PPI and the 8% interest of what a court would award.
Have you got this in writing to confirm this as such?

I would write back and tell them, enclose that letter that they admitted this was mis sold, and if they do not refund the above, you will be out of pocket due to this.
You contact the ones who arranged and sold you this.

You could go to the Financial ombudsman service (FOS) if they do not do this for you.

Or otherwise for more details/info contact the FOS anyway to see what they say on this, here:
http://www.financial-ombudsman.org.uk/contact/index.html

Good luck and please keep us posted, cheers.;)

dialysis

Hi just phoned deloitte again got american womans answerphone again:mad: so it asked me if I wanted to speak to her assistant which I did who put me through to someone called Tom again an answerphone which told me he would ring me back we will live in hope I am not holding my breath, I think as soon as they hear the words Picture Financial they wont ring back.:mad:

di3004

dialysis wrote: »

Hi just phoned deloitte again got american womans answerphone again:mad: so it asked me if I wanted to speak to her assistant which I did who put me through to someone called Tom again an answerphone which told me he would ring me back we will live in hope I am not holding my breath, I think as soon as they hear the words Picture Financial they wont ring back.:mad:

Hi Di, this is very frustrating isn't it?:mad:
Hope they contact you soon with a positive response. XXXX;)

dialysis

di3004 wrote: »

Hi Di, this is very frustrating isn't it?:mad:
Hope they contact you soon with a positive response. XXXX;)

I know Di that is three messages I have left now so we will see if they contact me will let you know.;)

stereo_mike

Charliemeg wrote: »

After complaining to L&G after a review of our insurances on our mortgage they have admitted we were missold a PPI in 2006. They have offered us our premiums back (£630.45) to date and told us to write to a company called Adminicle (the company who sold us the policy in 2006 now under another name) to cancel the policy and get our money back but that's all.

The advice I need is that this single premium was taken off us in August 2006 but as yet has not been used and was scheduled to be used in September 2009 - it has been sitting in their bank for 3 years!

I believe we can ask for not only the premiums we have paid, but the interest on the premium and 8% per premium that a court would give. The advice I need is what can we ask for in regards to the full amount of money (£4,560.00) which was paid to them in August 2006 and has been unused by them for 3 years and who do I ask for it. L & G or Adminicle.

This is our first time reclaiming anything and any advice would be greatly appreciated. Thank you

This doesn't sound like they have offered you the premium back, but instead they have offered you the interest which you have incurred due to the policy premium being paid in August 2006, and I assume added to a loan?? I assume as your policy has yet to commence (september 2009), they have advised you to go to Adminicle as you can get a full refund of the premium from them as you are still technically within the cooling off period??

di3004

dialysis wrote: »

I know Di that is three messages I have left now so we will see if they contact me will let you know.;)

Pathetic isn't it Di?:mad:, XXXXXX

pinknico

Its nots good enough Dialysis, you shouldnt have to be chasing them with 3 phone calls.