PPI Reclaiming Discussion part 4

tiggrae

Tommy144 wrote: »

Hi, I have only just found this site today, where have i been all this time!, and just wondered if anyone can help please. I think I might have valid claim on a personal loan that I took out in Feb 2008. My husband is self employed and I am employed. He is the first customer on the Personal Loan Protector which I am led to believe is making the insurance not valid? I am going to read all the info on the main pages but as I have just come across this forum, I thought I would ask here as well. The loan was for £25,000 over 84 months with Nat West.

Thanks

as Di says you need to check the policy, however, if your husband doesn't pay NI it's likely that he won't be covered by the policy

andy2005

hi marshallka,thanks for advice the tsb didnt advice me i could go elsewhere for insurance as to be honest i like most that need the loan would agree to sign most things to get it . i am in a postion to repay the loan now and then went and snapped my achilles tendon and the funny is while lying here with my leg in plaster i had a call from the tsb asking me come and review my account loan etc !! i said i would get back to them in couple of days . i am still not sure what to do to pay loan back or claim insurance ??

tiggrae

andy2005 wrote: »

hi marshallka,thanks for advice the tsb didnt advice me i could go elsewhere for insurance as to be honest i like most that need the loan would agree to sign most things to get it . i am in a postion to repay the loan now and then went and snapped my achilles tendon and the funny is while lying here with my leg in plaster i had a call from the tsb asking me come and review my account loan etc !! i said i would get back to them in couple of days . i am still not sure what to do to pay loan back or claim insurance ??

hi andy see my reply a couple of posts above - but be aware if you make a claim you won't be able to make a claim for mis selling - but to me the cost of the policy is way higher then you could get back in a year so wasn't sold in your best financial interests

Broadstone

Hi,

I need some advise and help. Under the DPA, I requested Barclays to advise me of PPI charges applied to mortgages that I have held with them over the last 10 years. The 40 day deadline passed several days ago and, as I did not hear anything from them, I have escalated to the Information Commissioner. I advised Barclays accordingly.

I am now in limbo. I know that the Information Commissionaire is inundated with work and won't be able to investigate my complaint for several months. Barclays do not appear to be doing anything to address my query. Please note that I know that I have been mis-sold PPI and and I'm sure Barclays do as well.

My query is what else can I do in order to get this fast-tracked and enable me to escalate accordingly. Please advise if anyone can help......

di3004

Broadstone wrote: »

Hi,

I need some advise and help. Under the DPA, I requested Barclays to advise me of PPI charges applied to mortgages that I have held with them over the last 10 years. The 40 day deadline passed several days ago and, as I did not hear anything from them, I have escalated to the Information Commissioner. I advised Barclays accordingly.

I am now in limbo. I know that the Information Commissionaire is inundated with work and won't be able to investigate my complaint for several months. Barclays do not appear to be doing anything to address my query. Please note that I know that I have been mis-sold PPI and and I'm sure Barclays do as well.

My query is what else can I do in order to get this fast-tracked and enable me to escalate accordingly. Please advise if anyone can help......

Hi there
Have you thought about contacting the financial ombudsman service (FOS) at all?

marshallka

andy2005 wrote: »

hi marshallka,thanks for advice the tsb didnt advice me i could go elsewhere for insurance as to be honest i like most that need the loan would agree to sign most things to get it . i am in a postion to repay the loan now and then went and snapped my achilles tendon and the funny is while lying here with my leg in plaster i had a call from the tsb asking me come and review my account loan etc !! i said i would get back to them in couple of days . i am still not sure what to do to pay loan back or claim insurance ??

You poor thing.....:sad:

Its not really for anyone to make this decision for you though but we can perhaps throw in some pros and cons.

If you make a claim on this then it will be "harder" although not entirely a no go from the new proposals that the FSA are bringing out for you to claim misselling (FROM HOW I READ THIS ANYWAY?????). I think they are asking firms to look into complaints even when someone has claimed on the policy IF they actually would have bought a policy BUT not the one that the firm "made compulsory" to their loan. If say you were not given a choice of buying elsewhere but would have wanted to cover yourself then you can say that you badly advised and from what I can see in the new proposals they would probably have to work out how much "extra" you have paid to buying a standalone policy and take one from the other for the redress.

I would like someone else to confirm this though as this is my opinion taken from the new proposals here.

If you click the link here and in section 3.11 you will see their new guidance on how to treat complaints. This all comes into force in Jan 2010 so they should already know about these proposals and should adapt themselves for the future now.


http://www.fsa.gov.uk/pubs/cp/cp09_23.pdf


Please note this is only my opinion here and i would not want you to listen to wrong advice but have a read yourself and see what you think. These new proposals are due to come into force in Jan 2010 so not yet but it would be an argument for some like yourself if they had claimed (although I know as yet you have not).

I hope others post their view for you too. I see tiggrae has left a post for you also.

Good luck and hope the tendon heals fast...

Just an extract so people don't think I am cracking up here


Claims and their impact on redress
3.11 Where the firm finds that the consumer would not have bought any PPI policy, but
the firm has previously paid out on one or more claims on the policy, the firm may
deduct the value of those claims from the redress it pays the consumer.
3.12 Where, however, the firm finds that the consumer would have bought an alternative
regular premium policy, such paid claims should not be deducted from the redress,
as they are merely claims on the policy the consumer would have had.
3.13 More generally, where a complaint raises (explicitly or implicitly) potential issues
around exclusions or eligibility and their disclosure, then irrespective of whether the
main focus of the complaint is on the original sale or a subsequently rejected claim,
the firm should consider whether the same potential deficiency affected both the sale
and the rejection of any subsequent claim, and fairly redress the consumer accordingly.
This should include now paying the claim where appropriate. Where the basic redress
due to the complainant is the full return of premiums, but there is also a claim to be
paid, the firm should pay the larger of the premiums or the claim(s).

Broadstone

Hi,

I haven't escalated to the FOS because I have no factual evidence to base my assumptions on and also because I know they are inundated with work as is the Information Commissioner; so I don't think this action will fast-track a resolution. I am probably going to assume that Barclays non-response as an admission of guilt and write them another letter. Fingers crossed...it may result in some action.

marshallka

Broadstone wrote: »

Hi,

I haven't escalated to the FOS because I have no factual evidence to base my assumptions on and also because I know they are inundated with work as is the Information Commissioner; so I don't think this action will fast-track a resolution. I am probably going to assume that Barclays non-response as an admission of guilt and write them another letter. Fingers crossed...it may result in some action.

Good luck and let us know how you go on.;)

tiggrae

Broadstone wrote: »

Hi,

I need some advise and help. Under the DPA, I requested Barclays to advise me of PPI charges applied to mortgages that I have held with them over the last 10 years. The 40 day deadline passed several days ago and, as I did not hear anything from them, I have escalated to the Information Commissioner. I advised Barclays accordingly.

I am now in limbo. I know that the Information Commissionaire is inundated with work and won't be able to investigate my complaint for several months. Barclays do not appear to be doing anything to address my query. Please note that I know that I have been mis-sold PPI and and I'm sure Barclays do as well.

My query is what else can I do in order to get this fast-tracked and enable me to escalate accordingly. Please advise if anyone can help......

what do you think barclays can provide that you don't already know, just start your complaint for mis selling - you don't need any information other than account no.s or address you were living at (and of course why you believe the PPI was mis sold) - to be honest waiting for a SAR can be just a complete waste of time

jobibjo

I have just started to try and claim back the PPI on a loan I repaid in full last January, I have writen to Halifax to ask for a copy of the loan agreement using the template letter but they have replied saying they do not have to send me a copy of the agreement as the loan has already been repaid, What is the next step to get a copy of the agreement? I have checked through the house and no longer have one, is there anyway of getting a copy?
Thanks