A&L have written to ask if PPI missold...

hannah:-)_2

My sister took out a loan a couple of years ago, and had to take PPI to get the credit. :mad: She's just had a letter through from A&L to say there were various things that should have happened when she took out the policy, and that if any of them didn't happen she should contact them immediately.

Does this mean she has a good chance of getting the premiums refunded or is the situation no different to if she had contacted them instead of the other way round?

Probably sounds like a daft question, but I'm not sure whether them writing out is a good thing. At face value it sounds like it, but this is a bank we're talking about, so we're naturally suspicious. :rotfl:

I'm helping her write her letter and could do with any advice on what to put. I've checked out the templates from Martin, but they all seem a bit heavy handed given that A&L have written offering to look into any concerns. At the mo, we're simply saying yes it was missold because she was told she had to have it. Is there anything else we should be including?

di3004

hannah:-) wrote: »

My sister took out a loan a couple of years ago, and had to take PPI to get the credit. :mad: She's just had a letter through from A&L to say there were various things that should have happened when she took out the policy, and that if any of them didn't happen she should contact them immediately.

Hi Hannah, not sure what they mean by this "various things that should have happened when she took out her policy"?

Does this mean she has a good chance of getting the premiums refunded or is the situation no different to if she had contacted them instead of the other way round?

If your sister was mis sold for any reason, she has a good chance to try to reclaim on the PPI, plus interest.
Is the loan still active or Settled?
It makes no difference anyway - either way.

Probably sounds like a daft question, but I'm not sure whether them writing out is a good thing. At face value it sounds like it, but this is a bank we're talking about, so we're naturally suspicious. :rotfl:

I would definately give it a go anyway.;)

I'm helping her write her letter and could do with any advice on what to put. I've checked out the templates from Martin, but they all seem a bit heavy handed given that A&L have written offering to look into any concerns. At the mo, we're simply saying yes it was missold because she was told she had to have it. Is there anything else we should be including?

So your sister was mis sold the PPI because they inititally told her that without it she would not be accepted for the loan, so this was the reason she taken the policy on, because she assumed she had no choice.

In the template letters of Martin's, you delete what does not occur to your sister and just apply her reasons.;)

Good luck hun and keep posting for help when required.

tanith

A quick related question if I may, my husband tells me he had this letter a month ago and its said something about if he didn't reply in a certain time period they would assume he didn't wish to claim and he wouldn't be able to in the future... being the unsavvy bank person he is he really didn't realise what it was and threw it away.. he just mentioned it the other day after seeing something on tv about it ... now what should we do? as far as he remembers he also understood it was a condition of the loan being granted... any point now trying to contact them again or has his chance to find out if he was missold gone?

hannah:-)_2

Thanks Di3004

Tanith ~ My sister had her letter about a month ago too, and didn't act on it straight away as she thought it wasn't worth the paper it was written on (her words!). She received a reminder letter a few days ago saying she had a fortnight or they would assume all ok. Have persuaded her to contact them as she was never happy that she had to take the PPI. I'm pretty sure they can't stop your husband from complaining even if he didn't act in the time they specified, so probably a good idea to just write in now and see what happens.

di3004

tanith wrote: »

A quick related question if I may, my husband tells me he had this letter a month ago and its said something about if he didn't reply in a certain time period they would assume he didn't wish to claim and he wouldn't be able to in the future... being the unsavvy bank person he is he really didn't realise what it was and threw it away.. he just mentioned it the other day after seeing something on tv about it ... now what should we do? as far as he remembers he also understood it was a condition of the loan being granted... any point now trying to contact them again or has his chance to find out if he was missold gone?

Hi Tanith

Was this a letter out of the blue?

If so and you believe the policy was mis sold you have the option or reclaiming your way, like using the templates and information from this site.

However, if they state that your hubby had the chance to do this but did not do so, make them aware you assumed it was a scam sort of thing and thought nothing of it and its only because you have only recently learnt of the mis selling of this product, via TV and media you realised.

Its worth a go, so for more information check this link below, with templates but write your own reasons for why you believe the policy of PPI was mis sold, they have 8 weeks to respond in full, post by recorded delivery, there are further templates for stage 2 letter if they don't resolve your complaint to your satisfaction, and in their final response they should give details of the Financial ombudsman service (FOS), you can complain to the FOS if in the final decision by the finance company do not resolve in your favour, and your not satisfied with the outcome.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance


Good luck and please post up for help when required.;)