Did I 'Choose' to include PPI?

di3004

Portofino wrote: »

Hi,

I too am after MBNA so pls keep us posted. I sent my first letter yesterday.

Fingers crossed!:j

Fingers crossed for you as well.;):beer:

tempsc

Will try and keep this thread as up to date as possible with my progress. Likewise Portofino, perhaps you could too. Having just sent in my SAR letter I see they have 40 days to respond. Is this how long it normally takes with most lenders/cc companies? If so, it may be a while before my next update...but bear with me. To be continued.............:D

di3004

tempsc wrote: »

Will try and keep this thread as up to date as possible with my progress. Likewise Portofino, perhaps you could too. Having just sent in my SAR letter I see they have 40 days to respond. Is this how long it normally takes with most lenders/cc companies? If so, it may be a while before my next update...but bear with me. To be continued.............:D

Hello there ,

They are entitled to 40 days, but you can still receive your SAR docs anytime really, so good luck and hope you receive them soon.;)

tempsc

Hi All.

Well, as promised, here I am keeping you all up to speed with my progress. Today I received a thick envelope by Special delivery from MBNA. It's a fairly comprehensive file on me with a surprising amount of information that they have garnered from various sources I suppose about me. In any case, the interesting part of the contents revolve around the following figures;

The PPI (but also called Payment protection cover, posted credit insurance fees, credit insurance plan coverage) amount to a total of a little more than £4K! A few late payment fees also appear and they total £100 when they charged £25 and £220 whilst charging £12. (Embarrassing I know but that's the way it has been recently :-().

Another item included in the pack was my initial card application form, from the mid 90's. On the form, the box asking ...."PPI. I would like to protect my payments and confirm that I meet the eligibility criteria summarised on the enclosed leaflet" is ticked.

So, my friends...'Where do I go from here?' I'm a groan (grown!) man but need my hand holding through this process so I get it right.

Look forward to any replies from previous posters and especially di3004. (Hope you are well!)

Tks
tempsc

di3004

tempsc wrote: »

Hi All.

Well, as promised, here I am keeping you all up to speed with my progress. Today I received a thick envelope by Special delivery from MBNA. It's a fairly comprehensive file on me with a surprising amount of information that they have garnered from various sources I suppose about me. In any case, the interesting part of the contents revolve around the following figures;

The PPI (but also called Payment protection cover, posted credit insurance fees, credit insurance plan coverage) amount to a total of a little more than £4K! A few late payment fees also appear and they total £100 when they charged £25 and £220 whilst charging £12. (Embarrassing I know but that's the way it has been recently :-().

Another item included in the pack was my initial card application form, from the mid 90's. On the form, the box asking ...."PPI. I would like to protect my payments and confirm that I meet the eligibility criteria summarised on the enclosed leaflet" is ticked.

So, my friends...'Where do I go from here?' I'm a groan (grown!) man but need my hand holding through this process so I get it right.

Look forward to any replies from previous posters and especially di3004. (Hope you are well!)

Tks
tempsc

Hi hun
Hope your well.;)

So you received your SAR package then, which is not actually giving a lot away only that you ticked the box for PPI etc.

Right to start I would not worry about that, this is standard and mainly its them that tick these boxes for you.

There is a checklist of reasons for mis selling, I would check them out, for example, you may not have been eligible for it anyway, such as maybe a pre existing med condition, or your employer may have protected you, and so on there are many reasons.

Now for one these Single policies are a rip off anyway and are frowned upon, so if you were sold one of these where they added the ppi to the loan, you have a case already.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Check this out and if you think any of this occurs to you then get writing to reclaim, there are also reclaim letter templates, you can use them or as a guide, give them 8 weeks to respond.

If they do not resolve in your favour, by the final decision, then move on to the Financial ombudsman service (FOS), they should give details of the FOS in the final decision.

However, sometimes the bank may give you an opportunity to write back to them.

Post by recorded delivery and do not worry about writing in any amounts at this time.

Keep us posted and do ask for help anytime.

And do not worry you are doing fine.:D

Good luck.

Di

tempsc

Di. Great thanks.:p

Thanks for the reply. I guess I should have said that there was a whole raft of other, mainly confusing, entries on the documents they sent me. These included brief notes that were attached to my acct I guess. They included short resumes of conversations I had had with them and also, where they had increased the rates due to missed payments etc.

Now - the next stage.......

In light of your information, I see that you don't recommend writing with specific figures. Do I leave it to them to calculate the total I have spent on the PPI? What is the likelihood of them calculating the figure I have after reviewing the documents they sent me? Do they ever make a 'settlement offer' to fob me off? With regards to the suitability of the PPI insurance, do they argue that it would have been up to me to see if the prduct was suitable? IE: I didn't have any pre-existing conditions and my employer probably didn't have policies in place to assist me if needed. Question is - can they demand medical records or employer policies?

If this goes to the FOS, do I have to pay for the FOS to get involved and how long do they take to adjudicate?

Finally, which of the template latters do I use next? There's so many of them I'm not certain where I'm up to! Oh, by the way, should I also reclaim the 'unfair' £25 late payment charges? I seem to recall that the figure was reduced to £12 for this very reason.

Tks
tempsc

di3004

tempsc wrote: »

Di. Great thanks.:p
Your welcome.

Thanks for the reply. I guess I should have said that there was a whole raft of other, mainly confusing, entries on the documents they sent me. These included brief notes that were attached to my acct I guess. They included short resumes of conversations I had had with them and also, where they had increased the rates due to missed payments etc.

Now - the next stage.......:D

In light of your information, I see that you don't recommend writing with specific figures. Do I leave it to them to calculate the total I have spent on the PPI? What is the likelihood of them calculating the figure I have after reviewing the documents they sent me? Do they ever make a 'settlement offer' to fob me off? With regards to the suitability of the PPI insurance, do they argue that it would have been up to me to see if the prduct was suitable? IE: I didn't have any pre-existing conditions and my employer probably didn't have policies in place to assist me if needed. Question is - can they demand medical records or employer policies?
That is fine, they should provide you on request with a detailed breakdown. So no need to write the amounts.
They can argue, so basically like most of ours, it will be your word against these, but if they did not resolve, you can always move on to the FOS.
Sometimes they can request for further information, but if you cannot provide it, just let them know, or give them details of your employer, they still have 8 weeks to investigate, and if you don't hear nothing at all from them, again move on to the FOS.

If this goes to the FOS, do I have to pay for the FOS to get involved and how long do they take to adjudicate?
The FOS is a totally free service, you are basically in a queing system, this can take some time, but as soon as your case has been moved to the adjudicator, the norm is that of approx 6 weeks, however, then it can depend on both the FOS and the bank with a decision, they may require further time, which the fos/adjudicator generally does give.
The timescale can vary, depending if the case becomes complexed or not.

Finally, which of the template latters do I use next? There's so many of them I'm not certain where I'm up to! Oh, by the way, should I also reclaim the 'unfair' £25 late payment charges? I seem to recall that the figure was reduced to £12 for this very reason.


Tks
tempsc

You wil find templates on the link here below in stages, you can use them if you want to or as a guide, also check the reasons of Martin's of the mis selling list and if any of them occur to you also write them in your letter as well.

They have 8 weeks to respond in full, they may write back and ask for further information in order for them to reconsider, but otherwise wait for the final decision which also encloses the details of the FOS.

Post as well by recorded delivery as this would be your proof of posting.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck with this and please keep us posted and ask for help anytime.;)

Di

di3004

Oops forgot to post in my above post, in regards of reclaiming charges etc for example maybe late payment charges, I would keep this separately, you will find help for this matter on this link here below:
http://forums.moneysavingexpert.com/forumdisplay.html?f=102

Best to keep this one separate from the PPI reclaiming, so you know where you are.;)

tempsc

Right. As promised to others who have been following this thread, I'm now just about at the stage of wiriting the second letter to MBNA regarding the request for a refund of the PPI/PPC charges that have been accrued on my acct with them. With grateful thanks to Di, (I do REALLY appreciate her help), I've been reviewing the letter templates and setting up my application for refund letter.

I have immediately deleted various sections of the letter that don't apply such as references to loan agreements etc and have been left with a fairly decent letter which will hopefully be sent today.

In reviewing the letter (and original template) a couple of queries do spring to mind, namely;

#1. Has the MBNA ever been fined for mis-selling? (I may need to further delete a section of my letter on the basis of this info.)

#2. I think I may have called MBNA when completing the original application for advice on a couple of matters. It was following their suggestion that the PPI was 'a good idea' as I had a young family to consider etc.

#3. Finally, my employers would have covered me with any financial hardships that may have occurred due to sickness and to my family in death at work/business travel etc.

Should I include all pertinent references in my letter as reasons for mis selling or just concentrate on one or two?

Thanks to all.
tempsc

di3004

tempsc wrote: »

Right. As promised to others who have been following this thread, I'm now just about at the stage of wiriting the second letter to MBNA regarding the request for a refund of the PPI/PPC charges that have been accrued on my acct with them. With grateful thanks to Di, (I do REALLY appreciate her help), I've been reviewing the letter templates and setting up my application for refund letter.
Your welcome.;)

I have immediately deleted various sections of the letter that don't apply such as references to loan agreements etc and have been left with a fairly decent letter which will hopefully be sent today.
Well done.

In reviewing the letter (and original template) a couple of queries do spring to mind, namely;

#1. Has the MBNA ever been fined for mis-selling? (I may need to further delete a section of my letter on the basis of this info.)
To my knowledge MBNA have not been fined for mis selling, but that does not matter, you have your reasons for your complaint.
I would also check this link out here below, it provides a list of banks who were fined, and in case any of them occurs to you as well.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

#2. I think I may have called MBNA when completing the original application for advice on a couple of matters. It was following their suggestion that the PPI was 'a good idea' as I had a young family to consider etc.
This is just typical of these banks.

#3. Finally, my employers would have covered me with any financial hardships that may have occurred due to sickness and to my family in death at work/business travel etc.
I would give details of this on the letter, and just give the name of the business you worked for, so that they don't use that as a stalling tactic to ask for this information later on.

Should I include all pertinent references in my letter as reasons for mis selling or just concentrate on one or two?

Thanks to all.
tempsc

I would include that occurs to you, to make sure you covered everything, again for no possible come backs......like asking you to provide this information later on.

Also just to clarify as well, do not worry about writing in the amounts, they have all your details on data, and you can always ask for a full detailed breakdown again, which they should provide to you on request.

Good luck with this, and please keep us posted, and also remember to use recorded delivery.;)

Catch you later.

Di
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