PPI Reclaiming Discussion part 4

plshelpme_2

Hi,

I posted a letter to Capital One for a refund of PPI on my account two weeks ago. Today I received a letter from them saying that the PPI was sold to me correctly and in accordance to my request in my application form. They attached a photocopy of my application form in their reply. True, I ticked the portion of "insuring my payments". That was 2004. And I had no full knowledged of what its all about and I guessed ticking that portion was just a normal thing to do way back then.
Until last August when I read all these refunds of bank charges, credit card charges and PPI facts from this website.
My questions are:

1. As I read in this website that Capital One is one of the many companies/banks who has been fined by the FSA for not treating their customers fairly when selling PPI, I used this reason in asking for a refund of my PPI to Capital One. Could I still ask for a refund despite the rejection letter that Capital One has sent me?
2. If yes, what will I do next? Or what letter template will I follow for my next letter?

Pls help me.
Thank you in advance for your help..

bullworker_2

I recently made an enquiry on here ( 1 week ago ) about loans.co.uk and ppi.

I was advised to go down the claim route.

The following day I had a statement from GE Money ( the lender ) with a statement of the years details etc ....what fate ?

The only thing we're worried about here is we're not sure if ppi was taken out now....we don't understand this much. Could they have loaned us the money without insurance because we certainly didn;t have nay elsewhere ?

Yours cautiously

Steve and Sarah

di3004

finatra26 wrote: »

I phoned asking for a true copy of my credit agreement last week (I actually phoned to ask where to send the letter & was told as I held all my accounts with them they were happy to comply over the phone) & decided today just to phone again to confirm this was being processed & was told it could take a while to find it, when I pointed out they only had 12 days there was a bit of panic as I got my credit card in 1988! To cut a long story short I came home tonight to customer service calls from my bank offering to lower the interest on my cc, another to say my true copy would be with me next Friday & another to say as a highly valued customer would I like a 0% balance transfer? Has anyone else experienced this? None of this will stop me reclaiming my PPI. I don't think they have phoned me in about 5 years & 3 calls in one night!

Hello there.

I would just for your records in the future put it into writing, this way you have your proof as well, just in case they try to deny you requesting for this etc.;)
If you want to write to them anyway and say "thank you for our phone conversation on XX/XX/XXXX in regards of my request of my True copy of my agreement (CCA), I look forward to receiving this as from 12 days of our conversation on the telephone.
Mostly for these requests they do normally cost £1 postal order or cheque payment, hopefully they will not come back and stall on this request, and hope you receive this soon, good luck.

I'm sure someone will post up if they have been in the same situation as you with an offer etc shortly.

You can still go for the ppi mis selling, good luck with this as well.;)

di3004

plshelpme wrote: »

Hi,

I posted a letter to Capital One for a refund of PPI on my account two weeks ago. Today I received a letter from them saying that the PPI was sold to me correctly and in accordance to my request in my application form. They attached a photocopy of my application form in their reply. True, I ticked the portion of "insuring my payments". That was 2004. And I had no full knowledged of what its all about and I guessed ticking that portion was just a normal thing to do way back then.
Until last August when I read all these refunds of bank charges, credit card charges and PPI facts from this website.
My questions are:

1. As I read in this website that Capital One is one of the many companies/banks who has been fined by the FSA for not treating their customers fairly when selling PPI, I used this reason in asking for a refund of my PPI to Capital One. Could I still ask for a refund despite the rejection letter that Capital One has sent me?
2. If yes, what will I do next? Or what letter template will I follow for my next letter?

Pls help me.
Thank you in advance for your help..

Hi there

I would write back to them again, until you receive the final decision, if they have not resolved by 8 weeks, I would move on to the Financial ombudsman service (FOS), they should give details of these in the final response.

You will find template letters in stages on this link here below, any problems finding them please let us know good luck and keep at them.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

di3004

bullworker wrote: »

I recently made an enquiry on here ( 1 week ago ) about loans.co.uk and ppi.

I was advised to go down the claim route.

The following day I had a statement from GE Money ( the lender ) with a statement of the years details etc ....what fate ?

The only thing we're worried about here is we're not sure if ppi was taken out now....we don't understand this much. Could they have loaned us the money without insurance because we certainly didn;t have nay elsewhere ?

Yours cautiously

Steve and Sarah

Hi Steve and Sarah

If insurance was taken out then this should be shown on your agreement/statement.
Before you go any further and cannot find any details, give them a quick ring and ask them just to be sure, then take it from there.

They should be able to confirm this to you.;)
If its a statement you have and no agreement, write ot them to send you a true copy of the agreement, by using the account number on the statement you have, enclose a £1 postal order or cheque payment, and tell them you look forward to receiving this by 12 days, post by recorded delivery.

Just a simple short letter for this request.

Hope this helps.

onedayimay

After sending two letters to firstplus about being missold my ppi back in 2006 I have received a final response.

The first reply in August was (3 1/2 pages long) said there accounts manager had done everything right blah blah blah so I sent the 2nd letter template disagreeing & added I wanted the tapes so I could take my complaint to the FOS. So today I have received a response saying as a gesture of goodwill they will cancel my policy & propose to make necessary adjustments to the loan account to put it in the position as if the ppi had not been taken...

A full refund of the insurance premium (£7447) plus interest paid on the premium to date (£2553) & a return of the monthly payments paid to date towards the ppi (£3360).

Am I right in thinking their final response is offerring me everything except the further 8% interest? & if that's the case should I take the money & run or continue & take my complaint to the FOS? ( although I still haven't been sent the tapes like I requested). I am really tempted to accept their offer as this money will come very handy for my wedding fund!

If I do accept, is it only the return of the monthly payments (£3360) I get back? or can I ask for the interest on the premium (£2553) too? The agreement states that the £7447 & £2553 will be deducted from my loan account you see.

Sorry for all the questions but I just want to get things straight before I make my decision.

di3004

onedayimay wrote: »

After sending two letters to firstplus about being missold my ppi back in 2006 I have received a final response.

The first reply in August was (3 1/2 pages long) said there accounts manager had done everything right blah blah blah so I sent the 2nd letter template disagreeing & added I wanted the tapes so I could take my complaint to the FOS. So today I have received a response saying as a gesture of goodwill they will cancel my policy & propose to make necessary adjustments to the loan account to put it in the position as if the ppi had not been taken...

A full refund of the insurance premium (£7447) plus interest paid on the premium to date (£2553) & a return of the monthly payments paid to date towards the ppi (£3360).

Am I right in thinking their final response is offerring me everything except the further 8% interest? & if that's the case should I take the money & run or continue & take my complaint to the FOS? ( although I still haven't been sent the tapes like I requested). I am really tempted to accept their offer as this money will come very handy for my wedding fund!

If I do accept, is it only the return of the monthly payments (£3360) I get back? or can I ask for the interest on the premium (£2553) too? The agreement states that the £7447 & £2553 will be deducted from my loan account you see.

Sorry for all the questions but I just want to get things straight before I make my decision.

Hi there

Well done on this.:beer::T:beer:
I think Marshallka will be able to answer this one for you. Good luck.;)

marshallka

onedayimay wrote: »

After sending two letters to firstplus about being missold my ppi back in 2006 I have received a final response.

The first reply in August was (3 1/2 pages long) said there accounts manager had done everything right blah blah blah so I sent the 2nd letter template disagreeing & added I wanted the tapes so I could take my complaint to the FOS. So today I have received a response saying as a gesture of goodwill they will cancel my policy & propose to make necessary adjustments to the loan account to put it in the position as if the ppi had not been taken...

A full refund of the insurance premium (£7447) plus interest paid on the premium to date (£2553) & a return of the monthly payments paid to date towards the ppi (£3360).

Am I right in thinking their final response is offerring me everything except the further 8% interest? & if that's the case should I take the money & run or continue & take my complaint to the FOS? ( although I still haven't been sent the tapes like I requested). I am really tempted to accept their offer as this money will come very handy for my wedding fund!

If I do accept, is it only the return of the monthly payments (£3360) I get back? or can I ask for the interest on the premium (£2553) too? The agreement states that the £7447 & £2553 will be deducted from my loan account you see.

Sorry for all the questions but I just want to get things straight before I make my decision.

You will be put back into the position as if you never had the PPI BUT you have not actually psysically paid all the PPI yet so they will refund what you have actually paid to date and interest on it and then take the remainder off the loan owing with them. Your loan will then be reduced by the amount that would have been due and your repayments should reflect this also. I would make sure that the loan rate remains the same and also ask for the 8% statutory interest too as you have been deprived of that money to use yourself.

di3004

Cheers Marshallka, I knew you could explain this in more detail than me.:D;)

onedayimay

di3004 wrote: »

Cheers Marshallka, I knew you could explain this in more detail than me.:D;)

Thanks to both of you for the speedy replies! I'm still in shock I even got a response like this from firstplus when I've read so many stories of having to take it further! I might give them a ring tomorrow to discuss the agreement further! Thanks again!