PPI Reclaiming Discussion part 4

di3004

gazza975526570 wrote: »

Thank you. Ive tried to read the stickies etc but there is so much information. From your experience with such limited recollection of events is there any point going ahead through this process? Im imagining that i need to be able to recall the events and the fact im not sure on a basic point appears to me to be fruitless?

Not a problem.;)

Well I always say if you don't try you will never know.

I was successful with a Credit Card PPI reclaim earlier this year, and this was taken out in 2001, yet when I requested the SAR info I was lucky to have received information even going back to the late 90's.

It is entirely up to you, but if you do request a SAR, useful info may come back, and if even if you do not actually receive phone recordings disks, there may be written phone transcripts within the SAR, but like I said it is up to you.

Meeely3

I hope someone is online...

Please can you read my letter to First Plus, using the templates from here and adding a bit myself. Please feel free to pull it to pieces!

First Plus PLC
Customer Services Team
Barclays Insurance Dublin
PO Box 586
Shannon
Co. Clare
IRELAND

Dear Sir or Madam,

Account number: xxxxxx

I purchased the above Payment Protection policy from you in December 2005 but now believe that I was mis-sold this policy for the following reasons:

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.
• I am concerned the sales assistant that sold me the policy had no financial background and the policy was not sold in my best interests.
• I was not told that the total cost of the cover was paid in full at the start of the Policy and the amount would be added to my loan. It was therefore a shock when 4 years after taking out the loan I find that I still owe £6000 (approx), more than I borrowed due to the interest I am paying on the £9700 (approx) Payment Protection amount.

I am enclosing a copy of the Payment Protection Plan that I received when taking out the Policy – it does NOT state that the total amount of the Policy would be added to my loan.

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, that I have paid to date. 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.

Yours faithfully,





Mrs Emily H Langley

Meeely3

had another stab at it:

Dear Sir or Madam,

Account number: xxxxxx

I purchased the above Payment Protection policy from you in December 2005 but now believe that I was mis-sold this policy for the following reasons:

• your salesperson was very pushy in selling me the policy so that I felt I could not say no.
• I am concerned the sales assistant that sold me the policy had no financial background and the policy was not sold in my best interests.
• During the phone call to apply for this loan, I was not told that the total cost of the Payment Protection was paid in full at the start of the Policy and the amount would be added to my loan. It was therefore a shock when 4 years after taking out the loan I find that I still owe £6000 (approx), more than I borrowed due to the interest I am paying on the £9700 (approx) Payment Protection amount.
• I was told that if I did not claim within 5 years, I would get the full amount of Policy back, but since I was not told that I would be borrowing the money in the first place it was not clear I would be paying the interest on the total policy amount for the entire term of my loan (20 years).

I am enclosing a copy of the Payment Protection Plan that I received when taking out the Policy – it does NOT state that the total amount of the Policy would be added to my loan.

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, that I have paid to date. 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.

Yours faithfully,





Mrs Emily H Langley

di3004

Meeely3 wrote: »

had another stab at it:

Dear Sir or Madam,

Account number: xxxxxx

I purchased the above Payment Protection policy from you in December 2005but now believe that I was mis-sold this policy for the following reasons:

• your salesperson was very pushy in selling me the policy so that I felt I could not say no.
• I am concerned the sales assistant that sold me the policy had no financial background and the policy was not sold in my best interests.
• During the phone call to apply for this loan, I was not told that the total cost of the Payment Protection was paid in full at the start of the Policy and the amount would be added to my loan. It was therefore a shock when 4 years after taking out the loan I find that I still owe £6000 (approx), more than I borrowed due to the interest I am paying on the £9700 (approx) Payment Protection amount.
• I was told that if I did not claim within 5 years, I would get the full amount of Policy back, but since I was not told that I would be borrowing the money in the first place it was not clear I would be paying the interest on the total policy amount for the entire term of my loan (20 years).

I am enclosing a copy of the Payment Protection Plan that I received when taking out the Policy – it does NOT state that the total amount of the Policy would be added to my loan.

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, that I have paid to date. 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.

Yours faithfully,





Mrs Emily H Langley

First letter great.......:T:T this 2nd letter better :T:T:beer:, well done.

Remember to post it as well by recorded delivery, for your proof of posting, good one and wishing you luck, please also keep us posted on this and if you require any help in due course, hopefully you will receive a good result on just one letter, fingers crossed.;)

Di

[Deleted User]

Hello Di, Marshalka et al.

Can I quickly pick your brains on something?

You may remember I've been having a bit of a tussle with Barclays over how they've structured my PPI refund and how I believe they have acted against FSA guidelines by failing to apply my refund to the loan balance?

Well, I've had some good news in that I've come into a small amount of money which is enough to pay my loan off - but I want your advice as to whether - counter-intuitively - this is actually the best thing to do.

Currently I've got a complaint open with Barclays that seems to be going nowhere, and the FOS is also aware of the complaint. I'm a bit worried about paying off the remaining balance of £5k as the whole crux of my complaint is that I believe the balance should really only be £3k today because of their errors.

What I don't want to do is pay off £5k and then have to go through another complaint to reclaim the £2k I will have 'overpaid', but at the same time it doesn't make sense to wait until the complaint's been resolved as that could take over a year by FOS timelines, so I'll have wasted money on interest.

What do you think I should do in this situation? I read elsewhere that banks don't have to respond to SARs and the like for settled accounts, so am I best holding off paying my loan off until the complaint is resolved - in which case, how can I speed the process up. I'm ready to pay off the loan today.

Or should I just pay off the £5k and then keep the complaint open by modify it to try and reclaim the excess £2k I believe I shouldn't have paid.

My concern is that it will be more difficult claiming back £2k that I've already paid Barclays, but easier to reduce a balance that I have yet to pay off (e.g. I might have issues getting the £2k back once I've paid it out)

What do you think?

marshallka

Deleted_User wrote: »

Hello Di, Marshalka et al.

Can I quickly pick your brains on something?

You may remember I've been having a bit of a tussle with Barclays over how they've structured my PPI refund and how I believe they have acted against FSA guidelines by failing to apply my refund to the loan balance?

Well, I've had some good news in that I've come into a small amount of money which is enough to pay my loan off - but I want your advice as to whether - counter-intuitively - this is actually the best thing to do.

Currently I've got a complaint open with Barclays that seems to be going nowhere, and the FOS is also aware of the complaint. I'm a bit worried about paying off the remaining balance of £5k as the whole crux of my complaint is that I believe the balance should really only be £3k today because of their errors.

What I don't want to do is pay off £5k and then have to go through another complaint to reclaim the £2k I will have 'overpaid', but at the same time it doesn't make sense to wait until the complaint's been resolved as that could take over a year by FOS timelines, so I'll have wasted money on interest.

What do you think I should do in this situation? I read elsewhere that banks don't have to respond to SARs and the like for settled accounts, so am I best holding off paying my loan off until the complaint is resolved - in which case, how can I speed the process up. I'm ready to pay off the loan today.

Or should I just pay off the £5k and then keep the complaint open by modify it to try and reclaim the excess £2k I believe I shouldn't have paid.

My concern is that it will be more difficult claiming back £2k that I've already paid Barclays, but easier to reduce a balance that I have yet to pay off (e.g. I might have issues getting the £2k back once I've paid it out)

What do you think?

Hi, its a hard one here as if you pay off the £3K then the other £2K is gathering interest until this is sorted (although if you win you will get 8% statutory interest on any amount you get).

As regards the sar request then even if an account is closed they usually supply details of a SAR as per the data protection act. I read somewhere whereby some firms will not comply and say its their right etc but I have had SAR requests and lots of others have where the account is settled. A CCA agreement request under section 77/78 is different and they do not have to supply one when an account is settled.

Another thing you need to find out is if you have any penalties on the account for paying off a lump sum. Some do charge for this I think.

Its really up to you how you do this but the one thing I would say is do not default on the account because its in dispute as this will have a detrimental affect on your credit rating.

If FOS are dealing with your complaint about the extra 2K then they will get it back to you if you win anyway plus interest to date.

Good luck

Albagubrath1314

Well i got a rather strange reply from the RBS this morning!

Dear Mr Albagubrath1314,

Payment Protection Insurance policy with the Royal Bank of Scotland.
Thank you for letting us know about the concerns you have with your Payment Protection Insurance policy. I am sorry to learn that you are unhappy and canb assure you that your comments are being taken very seriously.
Unfortunately, as we have not been able to locate any records for you on our systems we are unable to progress this matter further at the moment.
If your complaint does relate to a policy with us please provide us with full information with which to identify you on our systems, including any recent change of name or address, date of birth, any policy/account details you hold or any other relevent information.
Once these details have been confirmed we will be happy to fully investigate your complaint.

What information do they need??? I Put my name, address and account number on the letter (template used from this site) outlined my areas of concern with the Loanguard i was sold and have been with the RBS for 14 years!!! What am i to do now?
Thing is as well, the Personal Loan Duty of Care Checklist which i copied and attached for them that was supposed to be filled out at the time and was blank has the date and an RBS code/number at the bottom. Is this simply a fob off? Im really confused?

marshallka

Albagubrath1314 wrote: »

Well i got a rather strange reply from the RBS this morning!

Dear Mr Albagubrath1314,

Payment Protection Insurance policy with the Royal Bank of Scotland.
Thank you for letting us know about the concerns you have with your Payment Protection Insurance policy. I am sorry to learn that you are unhappy and canb assure you that your comments are being taken very seriously.
Unfortunately, as we have not been able to locate any records for you on our systems we are unable to progress this matter further at the moment.
If your complaint does relate to a policy with us please provide us with full information with which to identify you on our systems, including any recent change of name or address, date of birth, any policy/account details you hold or any other relevent information.
Once these details have been confirmed we will be happy to fully investigate your complaint.

What information do they need??? I Put my name, address and account number on the letter (template used from this site) outlined my areas of concern with the Loanguard i was sold and have been with the RBS for 14 years!!! What am i to do now?
Thing is as well, the Personal Loan Duty of Care Checklist which i copied and attached for them that was supposed to be filled out at the time and was blank has the date and an RBS code/number at the bottom. Is this simply a fob off? Im really confused?

Could you send them a copy of the agreement or anything relating to the PPI with them?

Albagubrath1314

marshallka wrote: »

Could you send them a copy of the agreement or anything relating to the PPI with them?

Yes i have all the paperwork here os could photocopy it all and send it back to them so they would have every single detail. Here is a copy of the letter i sent them which i cant see anything wrong with?

Dear Sir or Madam,

Account number:

I purchased the above policy from you in 26/10/07 but now believe that I was mis-sold this policy for the following reasons:



I was not given the correct information when the policy was sold to me, as:

• your salesperson did not tell me that the policy was optional. The loan was broken down as £139.40 per month over 60 months. Had I been told that the insurance was £30.53 per month of this figure, that it was completely optional and I did not have to commit from taking insurance from the RBS but could do so from another party I would have opted out of taking the insurance but this was never told to me or explained to me. Add to this that I have with my paperwork a Personal Loan Duty Of Care Checklist that the member of staff did not go through with me to state, show and reassure me we had covered all areas of the loan/insurance clearly. The form is blank and has not been signed by a either a member or staff nor myself as you can see from the photocopy I have enclosed. Had all points been covered properly on this list and explained properly again I would not have taken the insurance and opted out but this was never presented to me correctly.

• i am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests. This is highlighted by the above mentioned incomplete paperwork as part of my loan agreement.

• I was unaware that as part of the loan I would have Royalties Gold which would cost me extra. Once I was only aware of this I went into the bank to raise my concern and was told that I could only drop down to Royalties Silver as part of my loan agreement which I was completely unaware of.

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, that I have paid to date. 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.

Yours faithfully,

pinknico

Albagubrath1314 wrote: »

Well i got a rather strange reply from the RBS this morning!

Dear Mr Albagubrath1314,

Payment Protection Insurance policy with the Royal Bank of Scotland.
Thank you for letting us know about the concerns you have with your Payment Protection Insurance policy. I am sorry to learn that you are unhappy and canb assure you that your comments are being taken very seriously.
Unfortunately, as we have not been able to locate any records for you on our systems we are unable to progress this matter further at the moment.
If your complaint does relate to a policy with us please provide us with full information with which to identify you on our systems, including any recent change of name or address, date of birth, any policy/account details you hold or any other relevent information.
Once these details have been confirmed we will be happy to fully investigate your complaint.

What information do they need??? I Put my name, address and account number on the letter (template used from this site) outlined my areas of concern with the Loanguard i was sold and have been with the RBS for 14 years!!! What am i to do now?
Thing is as well, the Personal Loan Duty of Care Checklist which i copied and attached for them that was supposed to be filled out at the time and was blank has the date and an RBS code/number at the bottom. Is this simply a fob off? Im really confused?

Is there a phone number on the letter if so call them and see what they have to say about the information provided.

If there isnt contact the FOS and give them all the details and they will contact them for you.