PPI Reclaiming Discussion part 4

debtfreemission

Hi I am wondering if someone can help me. After a refusal letter from egg in september regarding PPI insurance. I went to the ombudsman. I received a letter stating that they had found in my favour and would I agree to the settlement. I contacted them to inform them that I had not received an offer and was informed that I would have to sign the form to accept and then egg would contact me. Today I received a letter thanking me for agreeing to the settlement figure which I still don't know is this common practice. Any advice would be welcome.

Thanks

aphyde9

tiggrae wrote: »

then you need to add t your claim that the PPI was mis sold as it only covered you for 5 years of a 25 year loan and you'de be paying out more than you could possibly EVER claim back and therefore was not sold in your best financial interests

Would I have to resend a letter giving them eight weeks to reply with this added as another reason, I had no idea it would only cover 5 years or a 25 year loan and as i paid the loan off nine months later and had to pay a large amount onto of the loan to clear or just add points to the stage 2 letter giving them just 14 days. Many Thanks

di3004

debtfreemission wrote: »

Hi I am wondering if someone can help me. After a refusal letter from egg in september regarding PPI insurance. I went to the ombudsman. I received a letter stating that they had found in my favour and would I agree to the settlement. I contacted them to inform them that I had not received an offer and was informed that I would have to sign the form to accept and then egg would contact me. Today I received a letter thanking me for agreeing to the settlement figure which I still don't know is this common practice. Any advice would be welcome.

Thanks

Hi there, normally if the FOS sorts out your complaint and uphold in your favour, they then send out the acceptance form with the findings of their decision, did you receive the letter of the ombudsman's findings?

If you accept...you then sign and send the acceptance form back to the FOS, normally to the adjudicator/ombudsman who dealt with your complaint, they then arrange and send copies of your acceptance with the copy of their decision and findings to the bank, for them to arrange to contact you to pay out.

Hope this helps, good luck.;)

debtfreemission

di3004 wrote: »

Hi there, normally if the FOS sorts out your complaint and uphold in your favour, they then send out the acceptance form with the findings of their decision, did you receive the letter of the ombudsman's findings?

If you accept...you then sign and send the acceptance form back to the FOS, normally to the adjudicator/ombudsman who dealt with your complaint, they then arrange and send copies of your acceptance with the copy of their decision and findings to the bank, for them to arrange to contact you to pay out.

Hope this helps, good luck.;)

Hi, I received a letter stating that they had found in my favour and that if I accepted by signing the letter egg would be in touch with me. I rang them and they said that I would have to wait on the offer from egg so was a bit confused as I thought they would have worked out the payment due.

Thanks for your help

Debtfreemission

di3004

debtfreemission wrote: »

Hi, I received a letter stating that they had found in my favour and that if I accepted by signing the letter egg would be in touch with me. I rang them and they said that I would have to wait on the offer from egg so was a bit confused as I thought they would have worked out the payment due.

Thanks for your help

Debtfreemission

Hi there and your welcome

Yes this is procedure of the FOS so not to worry, however depending on the bank they may take some time to do this, my hubby although different bank is still waiting for his refund and calculations, it was solved with the FOS about Oct-Nov 2009 where he signed the acceptance, then sent on to the bank, the FOS then send a letter to you to let you know they have sent all the particulars to the bank and if you do not hear from them by about 4 weeks of the FOS letter is to contact the bank, if you do not hear anything from them after say chasing them up on an update your entitled to let the FOS know and they normally offer then to chase them up for you for an update.;)

buyahousein2010

Hello All,

I posted this orginally on another thread directly relating to MBNA but as that does not get the traffic of this thread I am re-posting:

Quote:
Originally Posted by buyahousein2010
Hello All,

Rather than start a new thread, I thought I would piggy back on to this one as I am looking for advice on a PPI claim with MBNA. I took out an MBNA Credit Card back in December 2005, via an online application. I have since cleared the card and closed the account but I am looking to reclaim the PPI charges. Incidentally the MBNA credit card was by far the worst financial decision I have ever taken in my life and I would never dream about entering into a credit agreement with MBNA ever again!!!

Anyway, I applied for the card online and recently wrote to MBNA for a copy of my Credit Agreement under the 1974 Consumer Credit Act - I received this copy agreement today and I am confused.

They have sent me a paper copy of what appears to be a "MS Word" document. At the end of this agreement are two boxes, one of which has a tick for accepting the terms and the second box has a tick for purchasing Payment Protection Cover.

I kept soft and hard copies of every Credit Agreement I have ever entered into, which is why I was surprised not to have anything on file for this MBNA card. I have also never purchased Payment Protection Cover on any other loan or cc agreement, which is why I was surprised to find it on here.

I have a couple of questions:
1. Proving PPI was mis-sold from an online application - I have read and understood that this is hard to do unless boxes was pre-ticked. Does anyone know if this were the case for MBNA Online CC applications from 2005?

2. Does anyone have any success stories to share for reclaiming PPI against an online application from MBNA?

Thanks in advance!!!!


To follow on from my original post. On the copy Credit Agreement there is pre-ticked box for Payment Protection Cover - it then reads:
"I understand that I am purchasing the product(s) ticked above on credit provided by you and that the terms relating to this credit for the products can be found at paragraphs 1-16 of this agreement"

I've just read the agreement from cover to cover (twice) and it contains nothing relating to the Payment Protection Cover policy, absolutely nothing.

Does anyone else have experience of this? With this in mind I believe I have a case for mis-selling if the details of the policy were not included with the original credit agreement?

tiggrae

aphyde9 wrote: »

Would I have to resend a letter giving them eight weeks to reply with this added as another reason, I had no idea it would only cover 5 years or a 25 year loan and as i paid the loan off nine months later and had to pay a large amount onto of the loan to clear or just add points to the stage 2 letter giving them just 14 days. Many Thanks

No unfortunatley most people don't
I thought they had decided against your claim - if they have you can write back for them to investigate the new information.

Also, in respect to the unfair rebate you could put in a claim against the policy underwriters - that way you have double the chance of getting your money back

tiggrae

debtfreemission wrote: »

Hi, I received a letter stating that they had found in my favour and that if I accepted by signing the letter egg would be in touch with me. I rang them and they said that I would have to wait on the offer from egg so was a bit confused as I thought they would have worked out the payment due.

Thanks for your help

Debtfreemission

yes that's standard

di3004

buyahousein2010 wrote: »

Hello All,

I posted this orginally on another thread directly relating to MBNA but as that does not get the traffic of this thread I am re-posting:

Quote:
Originally Posted by buyahousein2010
Hello All,

Rather than start a new thread, I thought I would piggy back on to this one as I am looking for advice on a PPI claim with MBNA. I took out an MBNA Credit Card back in December 2005, via an online application. I have since cleared the card and closed the account but I am looking to reclaim the PPI charges. Incidentally the MBNA credit card was by far the worst financial decision I have ever taken in my life and I would never dream about entering into a credit agreement with MBNA ever again!!!

Anyway, I applied for the card online and recently wrote to MBNA for a copy of my Credit Agreement under the 1974 Consumer Credit Act - I received this copy agreement today and I am confused.

They have sent me a paper copy of what appears to be a "MS Word" document. At the end of this agreement are two boxes, one of which has a tick for accepting the terms and the second box has a tick for purchasing Payment Protection Cover.

I kept soft and hard copies of every Credit Agreement I have ever entered into, which is why I was surprised not to have anything on file for this MBNA card. I have also never purchased Payment Protection Cover on any other loan or cc agreement, which is why I was surprised to find it on here.

I have a couple of questions:
1. Proving PPI was mis-sold from an online application - I have read and understood that this is hard to do unless boxes was pre-ticked. Does anyone know if this were the case for MBNA Online CC applications from 2005?

2. Does anyone have any success stories to share for reclaiming PPI against an online application from MBNA?

Thanks in advance!!!!


To follow on from my original post. On the copy Credit Agreement there is pre-ticked box for Payment Protection Cover - it then reads:
"I understand that I am purchasing the product(s) ticked above on credit provided by you and that the terms relating to this credit for the products can be found at paragraphs 1-16 of this agreement"

I've just read the agreement from cover to cover (twice) and it contains nothing relating to the Payment Protection Cover policy, absolutely nothing.

Does anyone else have experience of this? With this in mind I believe I have a case for mis-selling if the details of the policy were not included with the original credit agreement?

Hi there

I am not sure about the Microsoft copy side of the agreement but they should have supplied you with a true copy to what I am aware of.

Sometimes it can be difficult to prove the mis selling on an online application but despite that to what I know of some have still been successful, so depending on what other reasons apply to you as well, and if the application was pre-ticked then you still have a good chance of reclaiming.
I would check the link below, which is Martin's link of useful information, with a checklist of mis selling reasons, template letters and so on, read this through and with your reasons write to them, they have 8 weeks in full to respond. Post by recorded delivery as well, this is your proof of posting.
Do not worry about writing the figures down though if you don't want to, because if successful they should supply them to you with a detailed breakdown, if not then ask for these.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

In regards of charges of PPI, I would treat this differently to the reclaiming of the mis selling of the PPI, so you would require 2 separate letters, so for help on the charges side of it, you would be best to post on the reclaiming credit card charges here:
http://forums.moneysavingexpert.com/forumdisplay.html?f=102

Hope this helps, please keep us posted, good luck.

sharon666

hi di

hope you are well, pm , you today, update from the fos, letter today, 10/2/10, putting our case forward to an investigate team, to ask adjudicator due to our curcumstances, anyone had a letter like this, and if so please post, if it takes along time, now, or is this the start of the finish, i really hope so, i posted here, hope this is correct, di will let me know.
thanks
sharon666:eek: