Sainsburys Bank PPI Claim

irnbru74

dilus wrote: »

Hi irnbru74,
I am totally new to this process, only registered this evening, I have read your rant and I think you should still pursue your claim on the grounds that how can you be expected to read all of the paperwork in the 15 minutes the courier is with you, that puts you under pressure to sign right away. In my case I wasn't even aware that I was being signed up to PPI, let alone bronze, silver or gold cover. In my opinion it should have been stated from the initial online application that PPI will be added to you loan and exactly how much that will cost you, there is no way I would have accepted taking out a £10,000 loan knowing that a further £4,000 will be added to it for PPI, that to say the least is excessive. At the time I was and still am in a very secure job (30 years) and would never have knowingly agreed to PPI cover. We can all say with hind sight I wish I had read that better but 15 minutes is not long!

Hi there,
I applied for loan via telephone, really got the hard sell, I remember saying I didn't want it, but was pressured into it! I was young and stupid!! Have you complained about it being a single premium policy, I haven't - thinking maybe I should have and never mentioned courier!!
I put claim in before becoming an MSE addict, wish I could start again!
Good luck with claim!!

pipz_2

Hi all, just wanted to add that I took out a sainsburys loan think it was 2005, loan was 2500 pounds. In June, after using a reclaim company (I know!) I got a cheque for nearly 1000 pounds due to the ruling made. About a month later I then got another cheque for nearly 500 pounds due to interest etc as they had calculated they owed me extra! I originally decided to try and claim thinking I might be lucky and get 200 back so I was very happy! Now waiting on 2 welcome claims! Also mine wad done via Internet and a courier delivered it. I think royal bank of Scotland were ones that paid the money back. Am now going to see if there are any claims due for the credit card that sainsburys issued me at the same time! Good luck everyone

dilus

irnbru74 wrote: »

Hi there,
I applied for loan via telephone, really got the hard sell, I remember saying I didn't want it, but was pressured into it! I was young and stupid!! Have you complained about it being a single premium policy, I haven't - thinking maybe I should have and never mentioned courier!!
I put claim in before becoming an MSE addict, wish I could start again!
Good luck with claim!!

I wasn't asked at any time if I wanted PPI and yes mine was a single premium policy so I will mention that too in my claim that is to be posted tomorrow, thanks for that irnbru74

dilus

pipz wrote: »

Am now going to see if there are any claims due for the credit card that sainsburys issued me at the same time! Good luck everyone

I too was issued with a credit card that I never asked for and never used, I remember cutting it up and throwing it in the bin

dilus

All documents compiled with the thanks to Martin's template, being sent recorded delivery tomorrow, keeping copies of all correspondence myself and a log of dates etc, nothing ventured, nothing gained.

dilus

One week on and heard nothing, not surprised I am expecting to wait the full 8 weeks before I get a response. Just read tonight that the top 16 companies have repaid £215 m in the first 6 months of the year and they have collectively put to one side £7.4 bn to cover payouts. Of the claims that are handled by the Financial Ombudsman 55% are upheld in the complainants favour.

I have just read my original paperwork 4 times to find a mention of "Right to cancel" All of the paperwork that I was expected to sign in the presence of the courier stated
"Once you have signed you will have for a short time the right to cancel. Exact details of how and when you can do this will be sent to you by post by us"
This was worded as if you would be cancelling the whole loan, not just any PPI added to it!!!
I was indeed given 30 days but didn't find this out until after I had signed and returned the documents and banked the cheque. It was then and still is, even now, very difficult to understand that I could just cancel the PPI, that I didn't realise I was paying in the first place.
The way in which the PPI was added to the initial loan, without verbally telling me that it would be, in my opinion is very underhand, they were relying on "joe public" not understanding what they were reading and hoping that it would slip through unnoticed.
Even when you buy a washing machine you are usually asked if you require an extended warranty!!!!!!!

dilus

Received a letter from Bank of Scotland, confirming my complaint and it states that they will deal with it as soon as possible. The new guidelines give them 16 weeks to respond to complaints received before 31st August 11 and that I can refer it to the Financial Ombudsman after that 16 weeks if I am not happy with their decision. Well that's progress I wasn't expecting a letter quite so soon, just wait to hear now, fingers crossed.

dilus

Two things to do with my Sainsburys Loan paperwork that could have a massive influence on the outcome are :-
If you took out a loan with them around 2004 the original paperwork (Credit Agreement) states in:-

Part 2
You apply for the following insurance cover:-
Sainsbury's Creditcare Silver
"If you have applied for credit insurance" (big word being "IF") in my case, I didn't it was added automatically, also my name and DOB was typed in at source rather than it being blank for me to sign

Part 3
You apply for the following additional insurance cover
"You agree to pay the ********* premium of £********* which will be added to and payable at the same time as the first instalment". These figures were BLANK !!!! making me think I wasn't paying for insurance

Something to bear in mind when stating your case, I overlooked mentioning Part 2 but made them aware of Part 3
Just goes to show how careful you had to be when signing these documents in 15 minutes!!!!!!!!!!

dilus

Have sent another letter today, direct to The Head of PPI at Bank Of Scotland making them aware that at the time of taking out the loan I was entitled to 6 months full pay and 6 months half pay through work, from what I have read on this site this can have a big influence on the outcome and decision as it equals what any PPI would have covered, so in effect cancels out PPI. Knowing I had this in place at the time of applying and indeed throughout the term of the loan "why would I need PPI".
Check your contracts of employment and see what you were entitled to regards sick pay and make sure they are aware of it. I failed to do this on my initial claim form but hopefully sending this letter will strengthen my case. The initial claim has only been with them for two weeks so hopefully this will get added to it before they get to work on it.

dilus

Still heard nothing further, expected to be honest as they have until just before Christmas to decide. Will keep you posted if any thing further happens. Sent original complaint in 25/08/11, received acknowledgement 01/09/11 Leaving it to run it's coarse and not hassling them by phone