PPI Reclaiming Discussion part 4

di3004

mollymoo96 wrote: »

Hi di thanks for this I have only got the account number from then. Do you not think its worth it

Hi hun
I would still give it a go.;)

di3004

simacca wrote: »

Hi,

Just to update on my situation, HFC finally paid me my money 3 days before xmas, £1300 was paid direct & PPI removed for the last 3 months of my loan what a result! Just done the same thing with Egg before xmas and got a letter on Saturday saying they were still looking into my claim......then a further letter today saying they would pay £5170 back into my account within 7 working days....can't believe that neither company has put up a fight....probably one of the best days of my life today, I will be paying off my credit card in full + store card with plenty left for a lovely holiday for my family knowing that by the end of summer that I will be debt free....I can't believe this huge burden will be finally lifted through no one's fault but my own mind you!

I have finally learnt to control my finances & to put hard work in then you will succeed, thanks for all your kind comments and I wish you all well with your claims & from experience know that anyone can turn debt around as I am proof that it can be done......now off to enjoy my life without constant worry!

Macca

Fantastic........:T:T:T

Congratulations and well done.:beer::beer:

di3004

aphyde9 wrote: »

I received a letter back saying that because the loan was taken out before 14th January 2005 that it was known as preregulation and was deemed I had chosen freely to purchase the Insurance. They have told me they do not agree that the policy was missold. Should I continue?

Hi there

Yes do so.

Because many of us have been in this situation, such as the business were not goverened by GISC where the FSA taken over in Jan 2005, the Financial ombudsman service (FOS) do not normally take on these cases, but many of us have now gone the Insurer/underwriter direction where the FOS are trying to make these responsible as well, these would have been governed, so in this case you write to the Insurer/Underwriter the same way you did with the previous one, and give them the usual 8 weeks, if they do not uphold in your favour then move this one on to the FOS.

You should find details of the Insurer/Underwriter on your policy, if not then ask the loan business for the details and address.

Of course if you want to, contact the FOS first and see what these think and take it from there, they may possibly suggest you do this anway, good luck.
http://www.financial-ombudsman.org.uk/contact/index.html

Please keep us posted, good luck.

Blessed_+_highly_favoured

Had an offer from Lloyds TSB of just under over £900 (had originally made a claim for misselling on a 14K loan of 3K PPI). The weird thing is that they enclosed the signed credit agreement and said in their decision letter that they did not uphold my claim, yet offer me this money?? I am confused?! The offer is the difference between something and something else (I've not got the whole letter to hand). Even though they have offered me this, I am considering taking it to the Ombudsman for the full amount, as something does not sit right. They say they have customer notes on the whole thing, that I am keen to look at, but say that this is their "full and final response" and that they consider the matter "closed". I know Lloyds TSB are difficult people? Any thoughts?

di3004

Blessed_+_highly_favoured wrote: »

Had an offer from Lloyds TSB of just under over £900 (had originally made a claim for misselling on a 14K loan of 3K PPI). The weird thing is that they enclosed the signed credit agreement and said in their decision letter that they did not uphold my claim, yet offer me this money?? I am confused?! The offer is the difference between something and something else (I've not got the whole letter to hand). Even though they have offered me this, I am considering taking it to the Ombudsman for the full amount, as something does not sit right. They say they have customer notes on the whole thing, that I am keen to look at, but say that this is their "full and final response" and that they consider the matter "closed". I know Lloyds TSB are difficult people? Any thoughts?

Hi there

So they are not accepting liability of mis selling but giving you the option of an offer.

Obviously if your not happy with the decision, you could always ask them to reconsider, because you believe with your reasons you were mis sold and believe your entitled to all your ppi paid, interest and 8% interest of what a court would award for being deprived of your money, and of course if they do not resolve this your way, you can move this on to the Financial ombudsman service (FOS).

That £3K of PPI is a lot to lose.

Fingers crossed for you.

Blessed_+_highly_favoured

di3004 wrote: »

Hi there

So they are not accepting liability of mis selling but giving you the option of an offer.

Obviously if your not happy with the decision, you could always ask them to reconsider, because you believe with your reasons you were mis sold and believe your entitled to all your ppi paid, interest and 8% interest of what a court would award for being deprived of your money, and of course if they do not resolve this your way, you can move this on to the Financial ombudsman service (FOS).

That £3K of PPI is a lot to lose.

Fingers crossed for you.

So them sending the ticked PPI box and signed agreement for the loan does not mean it was not missold? (from what I believe lump sum added PPI is illegal/missold regardless, am I wrong?). They made it clear that this was their full and final response. This loan was taken out in 2005. I can't remember what was said, even though they have "customer notes". Sorry for the questions, just trying to work things out!

Nathan97_2

marshallka wrote: »

Hi nathan, I would think that it will be done in the normal way and that it will be sent out as a cheque as you have never had any arrears with them. I would wait for the outcome and I sure it will be OK. The times when they redress against another loan mostly is if you have arrears with them.

Hi marshallka, Thanks ever so much for your advice this morning, but I couldnt stop thinking about this matter. I rang the FOS bout12 noon and spoke to a woman who took my reference number of the case. After outlining my concerns, she confired with her collegues and came back with answer that the banks can settle the claim whatever way they want, which includes redressing separate loan accounts that you may have with them. I am new to this site and am still trying to feel my way around it (still not sure if I'm doing things correctly) but I wonder what your collegues on this site think of this statement that the lady from the FOS came out with.

hope to hear from you soon

di3004

Blessed_+_highly_favoured wrote: »

So them sending the ticked PPI box and signed agreement for the loan does not mean it was not missold? (from what I believe lump sum added PPI is illegal/missold regardless, am I wrong?). They made it clear that this was their full and final response. This loan was taken out in 2005. I can't remember what was said, even though they have "customer notes". Sorry for the questions, just trying to work things out!

It makes no difference, the main of us receives these standard responses, just because its signed and ticked etc, this means nothing, because of other reasons alongside with it, not all policies are explained either, and these lump sum polices are a right rip off and frowned upon, this alone is a case.

If that was final then move on to the FOS for them to investigate if your not happy with the decision.
You can do this by ringing them to arrange a form to be posted to you, or you can download/print a complaint form from their site here:
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Please be aware though the FOS can take some time, due to the large volumes of these complaints.

Just a thought but did you request a Subject access Request (SAR), where they have 40 days to send all the info they hold on you?
Its up to you if you want to do this, but there maybe something enclosed within the SAR to help support your case, there is a charge of £10 postal order or cheque payment required for this, and SAR template letter here, if you decide to want to do this:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

If you have already done this then not to worry about the SAR link.;)

Blessed_+_highly_favoured

Cheers for this!! Just one more thing. I think I will let the Ombudsman look into this (I had a little chat with a case worker whilst enquiring about something else but was undecided whether to open this up as a case), but if I do so, would I forfeit the offer made by LTSB (ie my going to the Ombudsman and them being in favour of the bank for example). Would it mean I lose the offer as well? Or would the Ombudsman just tell me to accept their offer?

di3004

Blessed_+_highly_favoured wrote: »

Cheers for this!! Just one more thing. I think I will let the Ombudsman look into this (I had a little chat with a case worker whilst enquiring about something else but was undecided whether to open this up as a case), but if I do so, would I forfeit the offer made by LTSB (ie my going to the Ombudsman and them being in favour of the bank for example). Would it mean I lose the offer as well? Or would the Ombudsman just tell me to accept their offer?

Your most welcome.;)

I have not actually been in this position myself, but I think I have read on here that once you move on to the FOS, then everything will just be dealt with through them as a brand new complaint sort of thing, so where they will look into both sides, then if they uphold in your favour then they will request the bank to pay you full in PPI of what you paid and the interest as stated, but again they may even come up with the same offer unfortunately.

Maybe if you want to, wait for other opinions if you have some time before you make a definate decision.

Fingers crossed either way for you.;)