PPI will not pay out and Egg will not agree a mis-sell.

i8egg

:mad:

Hi this is complex sorry, I took out an egg cc online in 2001 and I have been paying PPI each month. Recently a Limited company I was a directror off is clsoing down (I am still registered as a Director, and companies house site shows that an application to close has been made). I applied to the PPI company and filled out all the info they wanted including getting the job centre to stamp a form as I am on job seekers. The PPI company has refused to pay out saying I am still a director of a company and the company has not closed.

Basically I feel that the policy is not fit for purpose i.e. does not cover my circumstances. I wrote to egg using a template letter from here for misselling and they have sent back saying that I read the T&C's and that I had to tick yes to purchase PPI (I do not agree that I did tick yes as I have no PPI on any other product I have and never have done). 2001 is a long time ago and I cannot remeber everything I did, but likewise how can they!

I cant pay my monthly credit card bill and I cant get the insurance company to fork out! what a waste of money.

Any ideas from anyone? any similar examples, experainces and outcomes would be appreciated.

dunstonh

Basically I feel that the policy is not fit for purpose i.e. does not cover my circumstances.

What you feel doesnt really matter though. Its the facts that matter.

I wrote to egg using a template letter from here for misselling and they have sent back saying that I read the T&C's and that I had to tick yes to purchase PPI (I do not agree that I did tick yes as I have no PPI on any other product I have and never have done). 2001 is a long time ago and I cannot remeber everything I did, but likewise how can they!

The longer you pay it, the harder it is to justify why you didnt cancel it earlier or raise the issue earlier. You also purchased online meaning you made the application direct to them and no-one sold it to you. So, it cant be a mis-sale. Also, making a claim but being rejected then putting in a complaint about mis-sale smells fishy. So, you can understand them refusing it.

Why are the insurance company refusing to pay? If you have the documentation to show the business is closing and the job centre are happy to do their bit then there shouldnt be a problem. If the insurance company still refuse at this point your complaint should be aimed at them not paying out and nothing to do with mis-buying in the first place.

marshallka

dunstonh wrote: »

You also purchased online meaning you made the application direct to them and no-one sold it to you. So, it cant be a mis-sale.

Not meaning to be objective to this particular case but I thought that sales online could have pre ticked boxes and they were frowned upon by the OFT and FSA.

i8egg

Thanks for the previous 2 posts. The miss-sell bit comes because it was done on-line and no alternative was offered. I am not sure if box was pre-checked as it was 2001, but I bet it was even if they say it was not. Also, I have never seen any documents they said were sent to my house and I would have thought even if on-line a signature on such documents would have been needed.

Some of the so called screen shot informaiton they have sent me looks poor aswell i.e I asked for and was given a 4k limit on the screen shot, although it was 10k they gave me. My outgoings i.e. mortgage etc all show as zero even though it show I have another 6 cards!. I also declared my job as being a contractor, would this not have raised questions about employment status!

About the PPI company, they have been given an official stamped letter from the job centre that they asked for and yet say I am not unemployed. In the eys of the law and the government I am unemployed but not to them. I think I am now going to give them 7 days before taking to the FSA as a formal complaint.

di3004

i8egg wrote: »

Thanks for the previous 2 posts. The miss-sell bit comes because it was done on-line and no alternative was offered. I am not sure if box was pre-checked as it was 2001, but I bet it was even if they say it was not. Also, I have never seen any documents they said were sent to my house and I would have thought even if on-line a signature on such documents would have been needed.

Some of the so called screen shot informaiton they have sent me looks poor aswell i.e I asked for and was given a 4k limit on the screen shot, although it was 10k they gave me. My outgoings i.e. mortgage etc all show as zero even though it show I have another 6 cards!. I also declared my job as being a contractor, would this not have raised questions about employment status!

About the PPI company, they have been given an official stamped letter from the job centre that they asked for and yet say I am not unemployed. In the eys of the law and the government I am unemployed but not to them. I think I am now going to give them 7 days before taking to the FSA as a formal complaint.

Hi there

You do have your own reasons for this, so go for it and I see what you mean, good luck with this.;)

i8egg

Thanks for the support. Do you mean go for Egg on miss-sell or the PPI company?

dunstonh

mis-sale applies to products sold to you (by someone). When you buy online or direct its known as direct offer or execution only. They cant be mis-sold because no-one else was involved. You get less consumer protection in these cases. However, you can still have some protection if the information given is incorrect or not presented correctly (AXA sun life got caught out about 5 years ago as a high profile case).

I think I am now going to give them 7 days before taking to the FSA as a formal complaint.

The FSA doesnt handle consumer complaints. They will just send your letter or info to the company to deal with. You need to complain to Egg straight away. Make sure you mark it as a formal complaint (so it doesnt get treated by the usual service line).

petermb_2

Mis-selling is only one of a number of issues surrounding the mis-selling of PPI.
There are other issues that are far more rebust and less hit and miss.

i8egg

Thanks all. I have complained to Egg and they sent me back a letter stating that yes it was sold on-line, I apparently read terms & conditions as part of a the process, I opted in to PPI. They sent me a document that had been 'transposed; from the information I had entered and it had filed of informaiton shown. However, various informaiton I feel had not been transposed correctly. 1) where it should have showd other outgoings each month i.e. mortgage, other cards etc it said zero. This gave me a spending income each month of 6k!, even though in another field it said I had 6 card (correct). Also, it clearly stated that I was a "contractor", therefore why did the underwrter not pick up on the fact that PPI would not work for me? Also the bank address for my DD seemed to be incorrect i.e. not an address I knew.

Egg also state that as part of the process I would have had this informaiton sent ot my home address and responded. I never saw anything and I have asked for a copy of this informaiton and any signatures.

I have now written to egg again highlighting all of the above. I have also said that I need audited prrof that I opted in to the PPI as I think at this time a lot of companies were setting it as a default on their systems. Also, I have pointed out that 'transposition' of informaiton by computer systems can go wrong. I have also highlighted that I am eggs customer and not the PPI's company and would expect them to fight my corner and not wash their hands of me. I would get shot if I had done this with a customer, I would have ended up in small claims court and also have trtading standards all over me!

I will wait for a letter back from them. If I get nowhere I will then ask for every piece of information, emails & correspondendace they have had with me under the data protection act.

I have also written to the PPI company and told them that in the eyes of UK law and the government I am unemployed and they have had the prrof of this from the DHSS and that companies house take forever to strike of a company but the status says it is pending. I will see what they say.

What I would say about all of this is....they are all fast enough to take £30-£70 per month since 2001 from me but now its time to pay!