PPI Reclaiming Discussion part 4

amersall

debtfreemission wrote: »

Hi, Have been on the site quite a bit and have eventually started trying to reclaim some money the first being egg ppi insurance which is quite a lot of money. I had a copy of one of my loan agreements as it was a top up. This agreement I have a copy of. I wrote to egg asking to reclaim and they told me as it was taken out on line I could not. However the quote was only on line and the rest was done on the phone as was the previous agreements. The other thing I noticed is an error on the agreement in that although I have signed where they asked me to I have not ticked the box for PPI. I am currently waiting on copies of the other loan agreements but am wondering if anyone could give me any advice regarding the above. egg have told me to go to the ombudsman.

Any advice welcome

hi there, you go to fos, i won a claim with nr for ppi that i did on the internet, my ppi box wasnt ticked either, this is to stall you, you have the same rights as anyone claiming mis sell, it does not matter if you did it by satellite from outer space!! my adjudicator told me that nr reply that "i did it online and there is a list of terms and conditions i had read and accepted" was not good enough, you have an excellent case as the ppi box was not ticked. you go for it and good luck

da666shooker

Hi, I sent a letter off last thursday to RBS and HSBC with regards to claiming back my PPI for misselling reasons with RBS and also misselling and failing to cancel on numerous amounts of requests with HSBC. I haven't had anything back from HSBC and don't expect to for a while, however I did get a response from RBS in the post yesterday, they said that they have passed the complaint onto their PPI team who deal with this and they will respond within 5 working days, this seems very quick, considering I have read some posts on here where people have been waiting a very long time....upto the 8 weeks, for responses. Has anyone else had any dealings with RBS and received a similar letter? If so what was the outcome of the second letter from the PPI team? I will keep you updated on my claim. Am also going to do the same with my Credit Card.

amersall

Millions make finance complaints


Individual firms will publish their own complaint details from next year
More than nine million individual complaints were made to firms in the financial services industry in the 2006-2008 period, figures have shown.

Banking and loans accounted for more than half the formal complaints made to financial companies in that period.

The Financial Services Authority (FSA) has published the complaints figures for the first time.

During the second half of 2008, 40% were being settled in the customers' favour.

The figures have been driven by huge numbers of complaints about bank overdraft charges, and the mis-selling of payment protection insurance and mortgage endowments.

"Publishing this information will mean that consumers and firms can now see how many complaints the industry receives and how it deals with them," said FSA director Dan Waters.

Individual companies will start to publish their own complaints data from July 2010.

'Unhappy customers'

The total number of complaints rose from 2,727,000 in 2006 to 3,411,000 in 2007 before dropping back last year to 2,903,000.


Financial firms simply aren't treating consumers well enough

Which?
There would have been more but for the fact that the FSA told regulated firms in the middle of 2007 they they did not have to include new complaints about charges for unauthorised overdrafts levied by banks and building societies.

More than 1.2 million of these complaints have since been "parked" until the issue is settled by the courts.

"It's a poor reflection on the industry that there are so many unhappy customers out there," said Which? personal finance campaigner Phil Jones.

"Financial firms simply aren't treating consumers well enough and things must change if the industry is to rebuild its reputation," he added.

Current accounts

The FSA's figures were dominated by complaints about current accounts, especially by demands for the return of overdraft fees, which reached 3,513,000 over the three-year period.


Put in context, the proportion of reportable complaints is still very small at 3.5 per thousand products held

British Bankers' Association
"The spike in the total number of complaints in the first half of 2007 is the result of a large increase in complaints about overcharging and poor customer service in relation to banking and loans products at that time," said the FSA.

There were 908,000 complaints about the mis-selling of mortgage endowments during the period, although their number tailed off dramatically during the three years.

Complaints about credit cards came a close third at 745,000.

But a surge in complaints about payment protection insurance (PPI) saw the number of complaints about general insurance and "pure protection" policies double, from 62,000 to 127,000, between the first half of 2006 and the second half of 2008.

Unhelpful

In April this year, the Financial Services Ombudsman (FOS), which deals with complaints that firms cannot settle themselves, accused many firms of being deliberately unhelpful.

However, a spokeswoman for the British Bankers' Association welcomed the publication of the data, saying that the vast majority of bank customers had "no problems" with their accounts or bank services.

"Millions of transactions for millions of customers go through the banking system every day," she said.

"Put in context, the proportion of reportable complaints is still very small at 3.5 per thousand products held," she added.

The vast majority of industry complaints were settled within eight weeks with, by the end of last year, just 10% taking longer to deal with.

Last year, the firms most likely to admit making a mistake were building societies, who settled 59% of complaints in their customers' favour.

Simon Morris, of City law firm CMS Cameron McKenna, was more critical of the FSA's publication of the data.

"Presenting crude statistics about complaints that firms receive provides no useful information to help investors make important decisions," he said.

"Instead it creates an alarming and inaccurate impression that firms are not to be trusted. It is irresponsible for the FSA to be undermining consumer confidence in such as insidious manner."
-hi all,this stinks dont you think? some firms are certainly NOT TO BE TRUSTED
i find simon morris reply incredulous, here we have a clear case of two fingers up to the people who are suffering hard ship through ppi etc. lets keep investors happy!! i would like to know about crap financial institutions if i wanted to invest in a company. name and shame i say

di3004

da666shooker wrote: »

Hi, I sent a letter off last thursday to RBS and HSBC with regards to claiming back my PPI for misselling reasons with RBS and also misselling and failing to cancel on numerous amounts of requests with HSBC. I haven't had anything back from HSBC and don't expect to for a while, however I did get a response from RBS in the post yesterday, they said that they have passed the complaint onto their PPI team who deal with this and they will respond within 5 working days, this seems very quick, considering I have read some posts on here where people have been waiting a very long time....upto the 8 weeks, for responses. Has anyone else had any dealings with RBS and received a similar letter? If so what was the outcome of the second letter from the PPI team? I will keep you updated on my claim. Am also going to do the same with my Credit Card.

Hello there,;)

Yes many have had dealings with these.

I think 5 days just may mean that is their own timescales, but your right they still do have 8 weeks max to deal with your complaint.

Hopefully RBS will come back with a good result for you as soon as possible, if not then you should or may be given the opportunity to write back to them again, basically keep on at them otherwise until they issue you with the final response, if they have not resolved in your favour by then, in the final response they should also enclose details of the FOS, you can take your complaint to these if your not happy with the outcome.

Good luck with all of your reclaims, please keep us posted, cheers.;)

laalaa41

I reclaimed PPI on a loan last year - it didnt take long to deal with once Id by-passed the branch who were useless anyway. They agreed with me and offered to put the whole lot against the loan or part to the loan and part back to me. So I slashed the loan and paid off another card too.

L

da666shooker wrote: »

Hi, I sent a letter off last thursday to RBS and HSBC with regards to claiming back my PPI for misselling reasons with RBS and also misselling and failing to cancel on numerous amounts of requests with HSBC. I haven't had anything back from HSBC and don't expect to for a while, however I did get a response from RBS in the post yesterday, they said that they have passed the complaint onto their PPI team who deal with this and they will respond within 5 working days, this seems very quick, considering I have read some posts on here where people have been waiting a very long time....upto the 8 weeks, for responses. Has anyone else had any dealings with RBS and received a similar letter? If so what was the outcome of the second letter from the PPI team? I will keep you updated on my claim. Am also going to do the same with my Credit Card.

desamax

Hi all is it true what Egg told me over the phone, that the FSA now allow them 60 days to settle. In my letter from FSA it states 30 days. Any one else been told this?

di3004

desamax wrote: »

Hi all is it true what Egg told me over the phone, that the FSA now allow them 60 days to settle. In my letter from FSA it states 30 days. Any one else been told this?

Hi there, not too sure on this, but I'm sure someone here who have dealt with them will post up to confirm, good luck.;)

pinknico

desamax wrote: »

Hi all is it true what Egg told me over the phone, that the FSA now allow them 60 days to settle. In my letter from FSA it states 30 days. Any one else been told this?

Some people have been told 90 days, did you win with the ombudsman and what date did you get their letter saying 30 days?

terry876

pinknico wrote: »

Some people have been told 90 days, did you win with the ombudsman and what date did you get their letter saying 30 days?

Hi if you read the letter from the FOS says they have to reply in 30 days not pay, seems Egg can do that when they want.

g-unit_2

marshallka wrote: »

SO when you lost your job did the PPI cover the repayments then??

No, they wouldn't cover me as I was unfairly dismissed, the key word being dismissed.