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PPI Reclaiming Discussion part 4
Comments
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Hi there;)
Have the final decision been given from the bank before going the FOS direction?
I would photocopy anything you have in evidence to enclose with the FOS complaints form, to help support your case.
These front loaded policies are very costly indeed.
I would though if you've not done so yet check for any other reasons that may apply, you will find in the link here below in case anything is missed.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Good luck, please keep us posted and yell for help anytime.;)
Thanks for your reply.
we haven't had the final word from Natwest yet but we have had an 8 week letter telling us that they are still investigating, and it has the FOS details on it.
The reasons given for the reclaim are for the salesperson being pushy and them not making it clear that the policy was optional.
I have had experience of this myself when I took out a loan from northern rock. I had a 10 minute argument about why I didn't need and how I'd cope without the PPI.
I didn't give in, I make a point of never insuring anything other than my house and car, the essentials!0 -
Thanks for your reply.
we haven't had the final word from Natwest yet but we have had an 8 week letter telling us that they are still investigating, and it has the FOS details on it.
The reasons given for the reclaim are for the salesperson being pushy and them not making it clear that the policy was optional.
I have had experience of this myself when I took out a loan from northern rock. I had a 10 minute argument about why I didn't need and how I'd cope without the PPI.
I didn't give in, I make a point of never insuring anything other than my house and car, the essentials!
Good for you and the very best of luck, please keep us posted.:);)The one and only "Dizzy Di"0 -
Just got letter today to say we has won our claim against Picture Loans for the £11,700 PPI Premium they put on our loan that only covered us for 5yrs even though the loan was for 25yrs. We have got the premium back and just short of £3k intrerest back so not far short of £15k. Well happy so anyone fighting for Comp dont give up:beer:. Thanks for the letters Martin they were used to kick start this, can't thank you enough. This stupid Homeowner loan has nearly cost us our house and our marriage.
Thanks to everyone who has offered advice to uson this site!!!!:j:T
Brilliant, well done and Congratulations.:beer::T:beer:The one and only "Dizzy Di"0 -
The FOS had said the 18th then 25th January. Today, the VERY nice gentleman at FOS confirmed the number £1573 plus £500 in interest plus £200 for the grief in a cheque. So the 2K (ish) will take a big chunk off the outstanding balance except will only mean Im about £60 per month (Im guessing) better off. The £200 will pay an bill in arrears.
I would have preferred half the big chunk in a cheque so I could get more arrears back in the black. But the FOS said they wouldnt do that. I'd heard the refund only goes into accounts if there are arrears in it - and there never have been but their take is to get the account into the state it would be if Id never had to pay PPI.
I shouldn't moan should I?
Laalaa0 -
The FOS had said the 18th then 25th January. Today, the VERY nice gentleman at FOS confirmed the number £1573 plus £500 in interest plus £200 for the grief in a cheque. So the 2K (ish) will take a big chunk off the outstanding balance except will only mean Im about £60 per month (Im guessing) better off. The £200 will pay an bill in arrears.
I would have preferred half the big chunk in a cheque so I could get more arrears back in the black. But the FOS said they wouldnt do that. I'd heard the refund only goes into accounts if there are arrears in it - and there never have been but their take is to get the account into the state it would be if Id never had to pay PPI.
I shouldn't moan should I?
Laalaa0 -
Thanks.
What extra am I paying? I have a bit left in the cc account to pay off, after the refund of £2078 goes in, but its not much. And Im getting £200 in a cheque for my trouble. That goes to pay a last payment on Council tax which was in arrears . Then it's all gone.
Laalaa0 -
Thanks.
What extra am I paying? I have a bit left in the cc account to pay off, after the refund of £2078 goes in, but its not much. And Im getting £200 in a cheque for my trouble. That goes to pay a last payment on Council tax which was in arrears . Then it's all gone.
Laalaa0 -
I wrote to GE Money the 28th November 2009 to request repayment of the PPI that was sold as a single payment policy on my loan at the time of the loan.
This loan was sold to me via Dial 4 A Loan who told me it would be of benefit to me to take out the insurance as it would guarantee I get the loan.
Ge wrote back to me stating:
"As you are aware, the circumstances of your complaint occured 7 years ago. For such cases, the FSA who regulates our business has issued a ruling that states that complaints older than 6 years do not automatically qualify for investigation.
To investigate your complaint fully and fairly would now, I feel, be extremely difficult due to the length of time that has elapsed and the inaccessibility of certain records and documents we would require to validate all the facts."
However prior to this, on 12th November 2009, I wrote to GE requesting a copy of the origial documents which they duly supplied on 24th November 2009. This shows that the documents were readily available.
I therefore wrote to them again on 25th January 2010 requesting they review the case based upon the ease of access to the documents they believed to be difficult to obtain.
They replied on 30th January 2010 stating:
"Having looked at your case, I can see that we've sent you our final response on 3rd December 2009. Our letter explained that because you're complaining about a sales of your policy, which occurred seven years ago, we can't investigate your complaint."
From their initial response one of the reasons they felt they couldn't review my case was because of the inaccessibility of tthe documents which I have proved is invalid. Therefore the have now stuck to the premise that it is outside of the timeframe set by the FSA.
The loan was taken out in July 2002 via Dial-4-A-Loan. I've now complained to the FLA tonight. Has anyone had any success down this route?0 -
I have recently downloaded letter 1 of Martins ppi claim forms and wrote a letter on behalf of my mother in law. She had 2 loans with m&s money and paid off one by consolidating, however each time took out ppi.
After letter one sent in December 2009, she recieved a letter on 2nd feb advising they have looked at the mis selling of the ppi and have paid back both ppi policys.
Policy 1 with 8% interest on top = £4191.58
policy 2 with 8% interest on top = £5255.91
originally I never thought we would hear back, but now I m looking into my old loans as can't believe this case. To put it in words, I m made up for my mother in law and with martin's letters downloaded for free!!
Don't pay for a service to do this and charge you for it, get downloading and get what is rightfully yours free of charge0 -
Just got letter today to say we has won our claim against Picture Loans for the £11,700 PPI Premium they put on our loan that only covered us for 5yrs even though the loan was for 25yrs. We have got the premium back and just short of £3k intrerest back so not far short of £15k. Well happy so anyone fighting for Comp dont give up:beer:. Thanks for the letters Martin they were used to kick start this, can't thank you enough. This stupid Homeowner loan has nearly cost us our house and our marriage.
Thanks to everyone who has offered advice to uson this site!!!!:j:T
Excellent well done!!!:T:T:T
0
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