PPI Reclaiming Discussion part 4

di3004

goaliesmum wrote: »

Thanks for the response di3004
Your very welcome.;)

Good idea to request the call log. I do have a copy of the agreement, nope made no claims, didn't know I had it and thankfully not had any need for a claim. Hopefully they will send you these recordings on request, if not you can always request a Subject Access Request (SAR), I will post more details on this below.

The salesperson only mentioned the single repayment amounts over 5 6 or 7 years, I took this to mean for the loan, it was never stated, so much for loan so much for insurance. Yes I see what they have done here, they did not mention the PPI and already included this within the loan......:mad:

I honestly cannot remember agreeing to the insurance, I have always been set against them since BOS insisted I had to have it to qualify for loan, another one to claim. I think you have a good case here.

The statement of needs says

You have told us that:

You are full time employed

Your current employment would provide sufficient income to maintain both your lifestyle and repay your borrowing in the event that you are unable to work through accident or sickness

Your current employment would not provide sufficient income beyond 1-4 wks to maintain both your lifestyle and repay your borrowing in the event that you are unable to work through accident or sickness (not true, have good long term job with good sickness package)

You do not have insurance cover for repayment of your borrowing in the event of unemployment sickness accident

You have told us you have the following additional financial committments:

There is one person who is financially dependent on your income.

In the event of loss of income through unemploment sickness or accident you have told us that you do not want to divert any remaining income or savings to maintain the repayments on your new borrowing in addition to these existing committments (???? not sure what that is about)

You have not consulted a doctor blah blah during last 2 years.

Based on the statements you have made to us in the event of a loss of income you would not be able to repay your new borrowing and maintain your other committments and or/lifestle. It is our recommendation that you take out PPI to meet this need.

In making this recommendation we have not taken into account the details of any existing relevant cover you may already have and therefore in this respect alone the cover we recommend may not be suitable

You have agreed that this product recommendation meets your payment protection requirements and that you wish to apply for it. Your application will now be passed to the insurer ( do not remember this)

+++++

This strikes me as a run through question and answer script that I would not recognise as a them selling me an insurance but seeing if I were suitable for the loan, the sort of thing they go through at the end of your application when you're relieved it's all sorted and not really paying attention


The letter with it states that if if you discussed your insurance requirements over the telephone it is a record of the recommendations you received from us.

Oh well it is what it is I suppose , I genuinely did not know this was being applied because I would have asked for a breakdown of cost at time

I think I will give it a shot based on I wasn't fully informed and should have been given a cost to make a fully informed decision.

Thanks for your time and the useful links will get cracking and let you know how it goes. :beer:

sorry this so long

Despite what they say, they should have given you the option anyway, for one there are stand alone protection, you can take out these to protect the payments of your loan, they just added it without your knowledge, so in my opinion it was mis sold to you, you do have a good case here.

I mentioned just above about an SAR, you can if you want to for more paperwork, request for this, there is though a charge of £10 cheque or postal order payment, and they have 40 days to comply, if you do decide to request for this, then hopefully any breakdowns will be enclosed within this SAR, they should send everything they hold on your accounts you have with them.
There is a template letter for this if you decide to want to request this here:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Please keep us posted though that would be cool, cheers and good luck.:beer:;)

mlucyminx

Hi everyone,

I phoned Financial ombudsman yesterday re my claim against ocean finance.

The adjudicator had ruled in my favour with my claim against ocean but when I phoned up to chase it about a month ago I was told all claims against Ocean had been put on hold as the FOS were in talks with ocean. Anyway yesterday i decided to give my adjudicator a quick ring for an update. He told me they had had a response from ocean but wasnt sure what it was as he didnt have it to hand. I'm assuming its not good news as I figure I would have had payment by now. I asked him about three times if cases were still on hold or not and he just evaded my question by saying "like I said in your case we have had a response and I will get back to you with what they have said" So my question is - Has anyone else got any info on what might be happening with Ocean Finance?

Thanks everyone xx

SootSoot

di3004 wrote: »

Hi there.;)

Acccording to Companies house Zenith Windows are still active.

Name & Registered Office:
ZENITH WINDOWS LIMITED
THE PHOENIX CENTRE, ROAD ONE
WINSFORD INDUSTRIAL ESTATE
WINSFORD
CHESHIRE
CW7 3PZ
Company No. 06406292

Status: Active I would check to make sure its the same company number, but I expect it is.

May I ask where you heard they gone bust.

How far have you gone with these?
Have you actually started the letter to reclaim yet?

Or I take it you have not because you heard they went bust.

I would then otherwise write to them and reclaim on this with your reasons, give them 8 weeks to respond, keep at them until they resolve or until they issue you with the final decision, which should also enclose details of the financial ommbudsman service (FOS), you should be able to take your complaint to them if your not happy with the outcome.

Do not worry about writing the amounts down, but post by recorded delivery, good luck.

For more info check this link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

If you have akready done this, and they have not resolved by 8 weeks then move on to the FOS, good luck.;)

Update:

I received a letter from Zenith Staybright today, probably because Firstplus directed my first letter to them.

They are claiming that as Bowater windows/home improvements have gone into administration and this is who sold me the loan, so therefore

"There is no legal responsibility on the part of Zenith Staybright for any errors or omissions on the part of Bowater or its subsidary companies. Whilst we have some records pertaining to your order with Bowater, it would be impossible for us to make any comment on matters that took place over 4 years ago. We had no part in the order and were not present at the time of the sale.

Under the circumstances we are unable to assist you in any way."

So, where do I go from here? ( I hate bloody double glazing firms!:mad:)

di3004

mlucyminx wrote: »

Hi everyone,

I phoned Financial ombudsman yesterday re my claim against ocean finance.

The adjudicator had ruled in my favour with my claim against ocean but when I phoned up to chase it about a month ago I was told all claims against Ocean had been put on hold as the FOS were in talks with ocean. Anyway yesterday i decided to give my adjudicator a quick ring for an update. He told me they had had a response from ocean but wasnt sure what it was as he didnt have it to hand. I'm assuming its not good news as I figure I would have had payment by now. I asked him about three times if cases were still on hold or not and he just evaded my question by saying "like I said in your case we have had a response and I will get back to you with what they have said" So my question is - Has anyone else got any info on what might be happening with Ocean Finance?

Thanks everyone xx

Hi hun
Thanks for posting on your update, hope you hear soon with some good news.;) Fingers crossed.

Di
xx

di3004

SootSoot wrote: »

Update:

I received a letter from Zenith Staybright today, probably because Firstplus directed my first letter to them.

They are claiming that as Bowater windows/home improvements have gone into administration and this is who sold me the loan, so therefore

"There is no legal responsibility on the part of Zenith Staybright for any errors or omissions on the part of Bowater or its subsidary companies. Whilst we have some records pertaining to your order with Bowater, it would be impossible for us to make any comment on matters that took place over 4 years ago. We had no part in the order and were not present at the time of the sale.

Under the circumstances we are unable to assist you in any way."

So, where do I go from here? ( I hate bloody double glazing firms!:mad:)

Just a thought, ring the Financial compensation scheme (FSCS) to ask if they have them listed with them, if they have you can put in a claim with them instead.
More details and contacts of the FSCS:
http://www.fscs.org.uk/contacts/

Good luck with this, please let us know how you get on.;)

gil8967

Hi all, Help needed!

Just received my SAR from the RBS. We moved our account from the Clydesdale bank to RBS in Feb 2007. We then set up our morgage & Life Insurance with them a few months later. The thing is we did state we did not need the morgage ppi due to the fact that OH employers cover this. (I have received the paper work today confirming this). Then In Aug 2008 we got a futher advance of £9000. on our morgage, but to my shock there is a Morgage Loanguard added on!! I am assuming this is PPI!! ( We have only discovered this today in the paperwork) We took the £9000 loan over the phone and the sales woman spoke to both of us, she never asked us anything about Protection for our payments but did say OH insurance would go up. Which we assumed would be life insurance, as this pays morgage in event of Critical Illness & Death.

Anyway we are really not sure what to do about this. We weren't aware of having any ppi on our morgage. We don't even know for sure if this is ppi, but think it is, and if it is ppi why has she set it up as the bank are already aware of other cover we have got? Same jobs & wages as our application. We don't know if she has set it up for the £9000 or for the full morgage? There is no separate payment, our morgage payment increased by about £96. per month. Can anyone advise me on this?

A Very Confused Gill

di3004

gil8967 wrote: »

Hi all, Help needed!

Just received my SAR from the RBS. We moved our account from the Clydesdale bank to RBS in Feb 2007. We then set up our morgage & Life Insurance with them a few months later. The thing is we did state we did not need the morgage ppi due to the fact that OH employers cover this. (I have received the paper work today confirming this). Then In Aug 2008 we got a futher advance of £9000. on our morgage, but to my shock there is a Morgage Loanguard added on!! I am assuming this is PPI!! ( We have only discovered this today in the paperwork) We took the £9000 loan over the phone and the sales woman spoke to both of us, she never asked us anything about Protection for our payments but did say OH insurance would go up. Which we assumed would be life insurance, as this pays morgage in event of Critical Illness & Death.

Anyway we are really not sure what to do about this. We weren't aware of having any ppi on our morgage. We don't even know for sure if this is ppi, but think it is, and if it is ppi why has she set it up as the bank are already aware of other cover we have got? Same jobs & wages as our application. We don't know if she has set it up for the £9000 or for the full morgage? There is no separate payment, our morgage payment increased by about £96. per month. Can anyone advise me on this?

A Very Confused Gill

Hi Gill
Hope your well.;)

I think this one Dunstonh maybe able to respond to, as a Financial adviser I'm sure Dunstonh will have some useful answers for you on this.

I will leave a message on your behalf, good luck.;)

goaliesmum

Hello, I have drafted a letter to send to BOS, would be grateful if someone can give me an opinion, no offence will be taken over any grammar issues raised , just grateful for the help.

I have had several goes at this and found some bits from other threads but this reflects the case with BOS, will use similar for Barclays.

Thanks in advance :beer:
+++++

I purchased the above policy from you in January 2003 but now believe that I was mis-sold this policy for the following reasons:

This is due to the fact that I was not given the correct information when the policy was sold to me, as

· your salesperson was very pushy in selling me the policy so that I felt I could not say no.

didn't make it clear the policy was optional and implied I should take out the policy to help with the application

looking at the notes I made when I telephoned to apply for the loan your salesperson stated only the repayment of £292.94 over 5 years with no mention that this amount was for the Loan Repayment

and Payment Protection Insurance. I was not given any breakdown of costs and I was not aware that I was discussing the purchase of Payment Protection Insurance during this call. I was not given any figures for the Loan Repayment without Payment Protection or indeed the actual total cost of Payment Protection Insurance nor details of how it would be funded. There was no explanation that the cost of the PPI premium would be added to the total cost of credit and interest added for the full term of the agreement. As I was arranging a loan to consolidate debts I would not have agreed to add a further lump sum to my load if this had been explained to me.


The above Loan was used to consolidate debts and clear an existing loan with yourselves. If Payment Protection Insurance was added to the initial loan then the balance outstanding at the time of refinancing would be adversely affected by this and needs correcting. I would like you to look at the previous loan and if Payment Protection Insurance was added to this then refund the extra amount that was incurred on the final balance of the loan, I also expect the 8% statutory interest to be added to this amount.


Unless you can satisfactorily justify to me that the policy was fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments. As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.
I look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.

++++++

Sorry for spacing, c&p mussed it up, thanks

pinknico

Looks good to me.

dunstonh

We moved our account from the Clydesdale bank to RBS in Feb 2007. We then set up our morgage & Life Insurance with them a few months later. The thing is we did state we did not need the morgage ppi due to the fact that OH employers cover this. (I have received the paper work today confirming this). Then In Aug 2008 we got a futher advance of £9000. on our morgage, but to my shock there is a Morgage Loanguard added on!! I am assuming this is PPI!! ( We have only discovered this today in the paperwork) We took the £9000 loan over the phone and the sales woman spoke to both of us, she never asked us anything about Protection for our payments but did say OH insurance would go up. Which we assumed would be life insurance, as this pays morgage in event of Critical Illness & Death.

The further advance you mention; is that a personal loan, secured loan or a further advance on the mortgage? It sounds like a personal loan as mortgages from the mainstream lenders take PPI and insurances on monthly direct debit from your current account. They are not part of the mortgage. This is one of the reasons you dont see so many complaints on the mortgage PPI side. It could be a secured loan but thats unlikely as £9000 is lower than most minimum secured loan amount.

Anyway we are really not sure what to do about this. We weren't aware of having any ppi on our morgage. We don't even know for sure if this is ppi, but think it is, and if it is ppi why has she set it up as the bank are already aware of other cover we have got? Same jobs & wages as our application. We don't know if she has set it up for the £9000 or for the full morgage? There is no separate payment, our morgage payment increased by about £96. per month. Can anyone advise me on this?

You need to find out what it is to begin with. Then at least you know what the cover offered is. You also need to check what type of loan you have as I dont think its a mortgage. I suspect you havent done a further advance under mortgage rules but a personal loan instead or maybe a secured loan.

http://www.rbs.co.uk/content/personal/loans/other_options/downloads/LoanGuard.pdf

Also, you shouldnt assume that the bank knows what insurances or personal/employer provision you have. There is no reason for a bank to record that information in depth and as cirucmstances change, they couldnt rely on old info if they did. Banks operate on a transactional basis. Not a servicing basis. e.g. if you went to a servicing IFA they would have all your details and would periodically update them and keep a log of events. A bank (or transactional individual) deals with the transaction in hand and then moves on. The record keeping is enough for that transaction only. Also, that pdf shows that they do not retail loanguard under advice. So, the seller does not have to keep a record of your personal details.

If it is a personal loan and this is loan PPI as I suspect it is, then you can complain on the basis as all the other personal loan people are doing.