have I made a mistake with my second letter

tommy44

Hi everybody

As some of you may know, I had a reply, from Black horse week, saying that they did not agree with my complaint etc.

I wrote my 2nd letter saying that I would give them 14 days to respond otherwise I would be taking my complaint to the FOS.

BUT, should I have said in that letter how much I wanted back. The full insurance amount £2.550, plus interest, plus the 8% on top. I omitted to ask for this amount, should I have done. Should I wait and see what they say in their reply.

Also do you think this letter is ok.

[FONT=Arial, sans-serif]Firstly, In your letter you state that although Black Horse Ltd is now subject to the Financial Ombudsman Scheme for General Insurance activity from 14 January 2005, and that as my policy was entered into prior to this date, this will not be a matter for the Financial Ombudsman should I decide to contact them. However, I rang them today to ask if that was the case, and they informed me that they are looking into ALL complaints. I therefore advise you that they have taken my details regarding my complaint, and have informed me that they will contact you, and that I should write to you to tell you this.[/FONT]


[FONT=Arial, sans-serif]With regards to your reason for saying that you do not believe I was mis-sold my policy because I had a 10 days to seek advice, and 30 days to cancel. Here is my response:-[/FONT]


[FONT=Arial, sans-serif]a) When I took out the loan it was not explained to me that I would only be covered for the first 5 years of the loan, however, I would still have to pay for the loan for the full 300 months of the loan. This does not make sense to me, as had this been explained to me fully, I would not have agreed to this, as I do not think it right or fair that I would have to pay Insurance with interest for 25 years, but only get covered for 5. I would have cancelled the policy immediately within the cooling off period or within the 30 days given for cancellation.[/FONT]


[FONT=Arial, sans-serif]I was led to believe, and by looking at my agreement, which states the term of the loan for insurance was for 300 months, therefore with that belief, I was led to understand that I could cancel the policy at any time, regardless of what you are saying was in the agreement, and because of this I signed the agreement with the full trust of the advisor of which I took out the loan. Your advisor did not point out this to me or explain to me that I would only be covered for 5 years but would still have to pay for a further 20 years. Had they, then I would not have agreed to this.[/FONT]
[FONT=Arial, sans-serif]I feel deeply let down by you decision, as I took out my loan in good faith with what I thought was a reputable lender, believing that I was covered for the full term of the loan and only discovering that I wasn't, when I was wanting to cancel because I was trying reduce my monthly out goings.[/FONT]


[FONT=Arial, sans-serif]Does that sound ok.
[/FONT]


[FONT=Arial, sans-serif]Kind regards
[/FONT]

di3004

tommy44 wrote: »

Hi everybody

As some of you may know, I had a reply, from Black horse week, saying that they did not agree with my complaint etc.

I wrote my 2nd letter saying that I would give them 14 days to respond otherwise I would be taking my complaint to the FOS.

BUT, should I have said in that letter how much I wanted back. The full insurance amount £2.550, plus interest, plus the 8% on top. I omitted to ask for this amount, should I have done. Should I wait and see what they say in their reply.

Also do you think this letter is ok.

[FONT=Arial, sans-serif]Firstly, In your letter you state that although Black Horse Ltd is now subject to the Financial Ombudsman Scheme for General Insurance activity from 14 January 2005, and that as my policy was entered into prior to this date, this will not be a matter for the Financial Ombudsman should I decide to contact them. However, I rang them today to ask if that was the case, and they informed me that they are looking into ALL complaints. I therefore advise you that they have taken my details regarding my complaint, and have informed me that they will contact you, and that I should write to you to tell you this.[/FONT]


[FONT=Arial, sans-serif]With regards to your reason for saying that you do not believe I was mis-sold my policy because I had a 10 days to seek advice, and 30 days to cancel. Here is my response:-[/FONT]


[FONT=Arial, sans-serif]a) When I took out the loan it was not explained to me that I would only be covered for the first 5 years of the loan, however, I would still have to pay for the loan for the full 300 months of the loan. This does not make sense to me, as had this been explained to me fully, I would not have agreed to this, as I do not think it right or fair that I would have to pay Insurance with interest for 25 years, but only get covered for 5. I would have cancelled the policy immediately within the cooling off period or within the 30 days given for cancellation.[/FONT]


[FONT=Arial, sans-serif]I was led to believe, and by looking at my agreement, which states the term of the loan for insurance was for 300 months, therefore with that belief, I was led to understand that I could cancel the policy at any time, regardless of what you are saying was in the agreement, and because of this I signed the agreement with the full trust of the advisor of which I took out the loan. Your advisor did not point out this to me or explain to me that I would only be covered for 5 years but would still have to pay for a further 20 years. Had they, then I would not have agreed to this.[/FONT]
[FONT=Arial, sans-serif]I feel deeply let down by you decision, as I took out my loan in good faith with what I thought was a reputable lender, believing that I was covered for the full term of the loan and only discovering that I wasn't, when I was wanting to cancel because I was trying reduce my monthly out goings.[/FONT]


[FONT=Arial, sans-serif]Does that sound ok. [/FONT]



[FONT=Arial, sans-serif]Kind regards[/FONT]

Hi Tommy

Well done to you.:T:T:T

Great letter and this will tell them.

Do not worry about the figures, they must have these and when and if they do give an offer you can compare them then, because if you were given an offer of a lot less you can argue that this is not enough, and of course the FOS will make sure you receive all what your entitled too also.
Good luck and great letter.;)

Di
X

tommy44

Thanks Di

Feel better for having your blessing.

Regards