PPI Reclaiming Discussion part 4

supersaverg

Sent Barclaycard letter stting that I beleive I had been missold PPI as I didnt actually know I had it. I have held the card since I was an unemployed student and 18 yrs of age, now 29 ,but thats secondary to not actually knowing I had been paying this PPI on my balance.

I have today recieved a pretty standard questionnaire about :

What was the reason for my complaint (my original letter explained this)

When I purchased the PPI (I didnt, thats why I am complaining)

Where I purchased the ppi (as above)

Have I made a claim using the PPI (as above, I could have in my life had I known I had it.)

Had a claim been denied (as above)

Is the policy still in force or cancelled, if cancelled please provide the date. (I think you get the point)

If the policy was cancelled some time ago why have you only recently brought it to our attention (Card been cancelled for about 6 months when balance cleared & thanks for Martin I checked past staements)



Thats it. May come in handy for some people?!

All its done is to anger me more as its obviously a delay tactic...and that havent actually read my original letter that explained everything to them.

I will fill it in and will reply to their questions as bluntly as above .

Unless anyone advises against it....?

skintmumofone

ho hum its Wednesday..... PAY DAY..... but when I checked my statement online this morning Welcome have taken the same payment off and not the revised one and can I get through to them..... NOT!:mad::mad:

I thought they would take the lesser one off but no they have taken the whole lot I have been paying.

Also FP - not getting anywhere fast FOS said although they have upheld they need an adjudicator so am waiting again....patiently not!

Am not a very patient person hehe but hey as they say all good things come to those who wait!:rotfl:

LilAli

Hi I'm new here - first post!

I sent off my first letter to Black Horse to reclaim the PPI that I was told I had to take out otherwise they wouldn't be able to put the loan through. I had a letter yesterday basically saying that we had undertaken a demands and needs questionnaire prior to entering the agreement, which they then recommended us to take out life/accident/sickness and critical illness insurance. They enclosed a copy of the questionnaire with the letter. They also stated that we had 10 days to check this out and find alternative arrangements which we of course didn't.

Is this a standard response and should I go onto the second stage or is it not worth it?

Please help...anyone!!

Ta.

janey17

maxdp wrote: »

Hi There.

The refund they are now compensating you for on the first loan would have affected the figures on the second loan when you refinanced it so if they had refunded the whole lot at the time then the amount you would have had to borrow for the second loan would have been smaller. Evertime you refinance and have PPI added it affects the next loan. What the FOS say is that they should take you back to a position as if you have never had PPI. What in fact these companies are doing is that they are not taking into consideration that these are successive loans and not stand alone.

If you are unsure then ask them if they have settled on a successive loan calculation and not a stand alone loan basis.. I understand that the big banks now have software in place that can work this out. Good Luck;)

Thank You Maxdp

No LTSB have not settled on a successive loan calaculation and wont enter into discussion on this. Additionally, they stated in numerous calls that also contractual interest and 8% would be added aswell. Now they are saying that ci is not the case and 8% has already been added. We asked for the calls to be listened to, they said they havent and wont as they have spoken to the refund team and that is all we are receiving from them.

We are considering legal action and have consulted a local solicitor who has vast experience in this field on the calcualtions and a number of breaches made. Its a waiting game, but I'll keep you all updated.

Take Care:A

pinknico

LilAli wrote: »

Hi I'm new here - first post!

I sent off my first letter to Black Horse to reclaim the PPI that I was told I had to take out otherwise they wouldn't be able to put the loan through. I had a letter yesterday basically saying that we had undertaken a demands and needs questionnaire prior to entering the agreement, which they then recommended us to take out life/accident/sickness and critical illness insurance. They enclosed a copy of the questionnaire with the letter. They also stated that we had 10 days to check this out and find alternative arrangements which we of course didn't.

Is this a standard response and should I go onto the second stage or is it not worth it?

Please help...anyone!!

Ta.

Standard response, send second letter saying why you disagree and why you think you were mis sold. Was this a single premium and did it cover the full term of the loan?

LilAli

Thanks Pinknico, appreciate the quick reply. It covers myself and husband, we're currently paying £121 a month in ppi and as far as I'm aware covers the full term of the loan. I've read the questionnaire and it doesn't cover us for redundancy which I thought it did.

I'll send the second response and see what happens, have a feeling they'll refuse that too as they've stated in their letter that if we're not happy then we must provide documentary evidence in support of our claim and if we're still unhappy after that then we have to take it to the Financial Ombudsman.

I didn't think this would be easy and I can certainly see why this puts people off pursuing it further.

pinknico

Good luck LilAli, I am sure you will win this in the end, Was the PPI added to your loan and you are paying it off for the length of your loan?

LilAli

Thanks Pinknico I'll need all the luck I can get!!

The ppi was added to the loan and we're paying it over the term so in total we're paying nearly as much as we're borrowing! Total ripoff!

pinknico

Then I am even surer you will win this, but may take FOS intervention.

di3004

Acknowledgement letter from the FOS came through today's post, in regards of Hamilton/HFC etc.

The usual response.;)