PPI Reclaiming Discussion part 4

marshallka

asmiffy9 wrote: »

Hi,
A big thanks to the both of you, I will take on board what you have said and have a go at claiming. Even if I don't get a result I am going to cancel the policy, as I have just managed to dig it out from that safe place that I always put things in, until I need them and read everything through from being to end and found that under the carer cover, they will not pay carer cover to my husband, if my sickness or condition existed prior to the start date. The salesperson knew that it would be my condition at the time, if it got worse, would be the reason why my husband would have to become my carer, fortunately for me , it has got that bad yet and hopefully it won't.
Anyway will keep you informed


Cheers Ann

Hi Ann,

Just a little more info on non advised sales

The firm did not explain whether it was selling on an advised or non advised basis.

Where seeking to sell on a non-advised basis, the firm:
•
failed to make it clear it was only providing information on the policy; or
•
gave advice to the customer regarding the policy (e.g. expressed an opinion on the merits of the policy).


I know your policy was most probably definately non advised as you have said that you actually relayed all info to your hubby but may help again when making the complaint.

di3004

Cheers for posting that Marshallka.;)

SPITAKIMUS14_2

Hi all

Firstly thanks to this forum and all its members for giving me the imformation to do this ..:T
i have used the template letters and received the not able to make a decision about misold ppi on an egg loan on phoning they said i would be recieving a refund in 2 to 3 weeks and it was being calculated .
Now the loan states that £9000 was the insurance part . The loan rate was 6.9 % for 84 months theres 2 years left and the current balace outstanding is £12000.

Now am i right in thinking that £9000 should automatically come off the outstanding balance ??
and the insurance part of the payments would have been £130.79 a month for the last 60 months a grand total of £7847.40 can i claim this back .

Finally is interest added to the payments ive made and if so at what sort of rate.

Dont mean to sound greedy but i really feel the banks have had it (and continue to ) there own way too long..

di3004

SPITAKIMUS14 wrote: »

Hi all

Firstly thanks to this forum and all its members for giving me the imformation to do this ..:T
i have used the template letters and received the not able to make a decision about misold ppi on an egg loan on phoning they said i would be recieving a refund in 2 to 3 weeks and it was being calculated .
Now the loan states that £9000 was the insurance part . The loan rate was 6.9 % for 84 months theres 2 years left and the current balace outstanding is £12000.

Now am i right in thinking that £9000 should automatically come off the outstanding balance ??
and the insurance part of the payments would have been £130.79 a month for the last 60 months a grand total of £7847.40 can i claim this back .

Finally is interest added to the payments ive made and if so at what sort of rate.

Dont mean to sound greedy but i really feel the banks have had it (and continue to ) there own way too long..

Wow well done to you.
:beer::T:beer:
They differ from one bank to another but hopefully someone can confirm on this for you shortly.;)

di3004

Right when we received everything back from the Solicitor on request, they had since received more documents from Endeavour which also included the paperwork from Click, so some docs that we did not receive when we requested the SAR well over a year ago.

I re-opened the pack tonight and see that there were many banks involved here.
HFC Bank Limited (copies of the underwriters Customers Services Speak Form.
Beneficial Finance
Household bank
Sterling Endeavour
Endeavour
Click1
Clickfinance limited
1 Click loan ltd

The company number for Click Finance limited is that of:
04239176.
So the company that dissolved in 2006.

They are all FISA.

On the transcripts it seems that there are paperwork from HFC as well.

And so on.

Also comments of our complaints over the last year.

.............................................................................................
Also in the paperwork a copy of the PPI policy, and for Customer care, requests or complaints it states

Complaints concerning this policy should be sent to

Customer Services Department
Hamilton Insurance
PO Box 4718
Birmingham
B1 3RF.

If your not satisfied with the handling or your complaint have not been resolved within 8 weeks please write to "our chief executive at Hamilton Insurance, North St, Winkfield, Windsor, Berkshire, SL4 4TD".

After writing to the Chief Executive, and remain dissatisfied or your complaint have not been resolved within 8 weeks, you can approach the Financial Ombudsman Service..............

This is signed then from the Managing Director and Chief Executive Officer
"in respect of the Unemployment Insurance and in respect of Disability insurance where the initial term is less than 5 years where you pay disability premium.

Signed on behalf of Hamilton Life Assurance Company Limited
In respect of Life Insurance and in respect of Disability Insurance where the initial term is 5 years.

Hamilton company number: 1656838

It then states that they are authorised and regulated by the FSA, incorporated with limited liability and members of the Association of British insurers and the FOS.
Endeavour personal finance and the insurers are connected as they are both members of the same group of companies.

di3004

Don't think the FOS seen the paperwork of the actual PPI policy with those details of how to complain, just hope they get back to me now and say to go ahead with it.

Afterall they do state in regards of the ppi (on the policy) is to complain to them (Hamilton).

DrRusty

DrRusty wrote: »

Ok so i have just received a letter from FOS saying that MBNA will settle on a goodwill basis, while standing by thier orignal defence. Its taken a while so good news at last !!! :T

However, FOS has provided details relating to how the payment should be calcualted and it seems more complicated than adding up the premiums paid and returning them to me with interest. (n.b. the account was closed sometime ago).

As such I am being asked to accept this offer without know quite how much I am being offerred?

The FOS details that

A) reconstruct the account by removing any premiums in repesct of the PPI and any interest or charges in respect of those premiums.

If that produces a credit balance for any period credit interest on that balance for that period at 8% simple per year

C) pay the customer the difference between the revised closing balance and the orignal closing balance.

D) pay the customer interest on that difference at 8% simple per year from the date of closure to the date of the payment

E) send the customer details of how the revised balance, the difference and the interest were calculated.


This does seem very complicated and I wonder if in reality it just means the added up how much in PPI premiums were paid and add interest?

Any help advise welcome as i need to send the form back asap.

Well although I posted this in June - todate MBNA have not actually paid out... Been emailing the Ombudsman, but even they aren't getting a response from MBNA. :mad:

I feel that any "goodwill" in which MBNA offered to settle is now pretty thin and three months later is just totally unfair. I have told the ombudsman that MBNA have until the end of the month or I will refer it all back to the ombudsman, which will mean even further delays.

marshallka

DrRusty wrote: »

Well although I posted this in June - todate MBNA have not actually paid out... Been emailing the Ombudsman, but even they aren't getting a response from MBNA. :mad:

I feel that any "goodwill" in which MBNA offered to settle is now pretty thin and three months later is just totally unfair. I have told the ombudsman that MBNA have until the end of the month or I will refer it all back to the ombudsman, which will mean even further delays.

You are being redressed for the full amount by the looks of things. (I did post a post and deleted as I thought the gesture was a lesser amount) so I would just get the FOS to intervene again if nothing happens shortly.

Good luck

goaliesmum

Good morning, nothing major, just an update.

Letter sent special delivery 24 Sept, reply received today dated 29 Sept

Briefly
Just an acknowledgemnt of my concerns regarding insurance applied to loan. Keen to deal with as quickly as poss, investigation may take some time, their intention to deal with within the 8wk timescale and provide updates when appropriate.

From BOS Customer Relations Dunfermline, tel numbers if anyone needs them.

No reply from Barclays who received letter at same time.

1 week down 7 to go

di3004

goaliesmum wrote: »

Good morning, nothing major, just an update.

Letter sent special delivery 24 Sept, reply received today dated 29 Sept

Briefly
Just an acknowledgemnt of my concerns regarding insurance applied to loan. Keen to deal with as quickly as poss, investigation may take some time, their intention to deal with within the 8wk timescale and provide updates when appropriate.

From BOS Customer Relations Dunfermline, tel numbers if anyone needs them.

No reply from Barclays who received letter at same time.

1 week down 7 to go

Hi there

Thanks for your update.;)

Wishing you a good outcome from this, good luck.