Is my letter too flakey to take further?

naitch1980

FAO: Customer Services Manager
Egg Loans


Dear Sir or Madam,

Re: Account number: XXXXXXXX

I purchased the above policy from you in June 2003 but now believe that I was mis-sold this policy for the following reasons:

This is due to the fact that I contacted you on several occasions in 2004, while I was undergoing considerable financial hardship, I called and attempted to cancel the policy and you informed me that I could only cancel the policy if I took out a new credit agreement. As the FSA has now stated ‘no refund’ terms are considered unfair I would like my original cancellation request to be honored. Since I can not confirm the exact dates – I assume that you keep records of when your clients have contacted you and you may be able to enlighten me as to when I called – I am happy to take the date as January 2005.

It is also due to the fact that I was not given the correct information when the policy was sold to me, as

• firstly your salesperson implied that taking out the policy would assist my credit application.
• your salesperson then implied that taking out the policy was essential for me to get the associated credit
• i am concerned the sales assistant that sold me the policy had no financial background and the policy was not sold in my best interests. .

Unless you can satisfactorily justify to me that the policy was fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money. I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.

I look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.

Yours faithfully,

di3004

naitch1980 wrote: »

FAO: Customer Services Manager
Egg Loans


Dear Sir or Madam,

Re: Account number: XXXXXXXX

I purchased the above policy from you in June 2003 but now believe that I was mis-sold this policy for the following reasons:

This is due to the fact that I contacted you on several occasions in 2004, while I was undergoing considerable financial hardship, I called and attempted to cancel the policyand you informed me that I could only cancel the policy if I took out a new credit agreement. As the FSA has now stated ‘no refund’ terms are considered unfair I would like my original cancellation request to be honored. Since I can not confirm the exact dates – I assume that you keep records of when your clients have contacted you and you may be able to enlighten me as to when I called – I am happy to take the date as January 2005.


It is also due to the fact that I was not given the correct information when the policy was sold to me, as

• firstly your salesperson implied that taking out the policy would assist my credit application.
• your salesperson then implied that taking out the policy was essential for me to get the associated credit
• i am concerned the sales assistant that sold me the policy had no financial background and the policy was not sold in my best interests. .

Unless you can satisfactorily justify to me that the policy was fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money. I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.

I look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.

Yours faithfully,

Hello there

I just read your letter and its very good, just as long as you feel you have covered everything on your case to support your complaint, also remember as well to post by recorded delivery, as this is your proof of posting, good luck and again great letter, well done and fingers crossed.:T;)

Di

naitch1980

Thanks very much Di

I'm concerned that there's not enough evidence you see, but all of it's true.

di3004

naitch1980 wrote: »

Thanks very much Di

I'm concerned that there's not enough evidence you see, but all of it's true.

Hi hun

You should be okay, keep fighting this and if they do not resolve this, I'm sure the FOS will, so keep this good work up, and keep us posted, also ask for help if required, good luck.;)

naitch1980

Just to update you, after being adamant they wouldn't pay up because I'd applied for the loan online (I did apply online, but I had to phone up to process the loan), I decided to go to the ombudsman, but having mislaid the letters, I had to write to them for copies. I was confident that I was entitled to the PPI refund due to the unfair "no refunds" terms I mentioned in my original letter.

Anyway, when they sent the copies back, the letter was as follows:

"Dear Mr naitch1980

Thank you for your letter dated 18 November 2009 regarding your complaint.

After reviewing your complaint, I have arranged for the full Payment Protection premium and the associated interest to be refunded. This will be sent to the bank details that we hold for your loan Direct Debit.

The full refund amount will be comfirmed to you once the refund has been processed.

I have also enclosed copies of all written correspondence relating to your complaint.

if there is anything in this letter tha you wish to discuss etc

Yours sincerely

Mr Egg"

To which I have replied:

"Dear Mr Egg

Thank you for your recent letter dated 25 November 2009

This news is most welcome, I gratefully accept the offer of refunding the full amount of Payment Protection Insurance charged along with associated interest as full settlement of my complaint.

Thank you very much for your time & help.

Yours sincerely,

naitch1980"

I just wanted to know what anyone thinks about this on several notes.

Firstly, I am paranoid that they're going to write back to me and claim they've made a mistake.

Secondly, by associated interest, are they talking about the proportion of the interest on the loan relating to the PPI or the statutory interest or both?


This would be a really timely boost for me, so I hope they do weigh me in, but I am convinced it isn't going to happen.

tilley441

how long should i wait before i send the next letter after sending this one?

naitch1980 wrote: »

FAO: Customer Services Manager
Egg Loans


Dear Sir or Madam,

Re: Account number: XXXXXXXX
I purchased the above policy from you in June 2003 but now believe that I was mis-sold this policy for the following reasons:

This is due to the fact that I contacted you on several occasions in 2004, while I was undergoing considerable financial hardship, I called and attempted to cancel the policyand you informed me that I could only cancel the policy if I took out a new credit agreement. As the FSA has now stated ‘no refund’ terms are considered unfair I would like my original cancellation request to be honored. Since I can not confirm the exact dates – I assume that you keep records of when your clients have contacted you and you may be able to enlighten me as to when I called – I am happy to take the date as January 2005.

It is also due to the fact that I was not given the correct information when the policy was sold to me, as

• firstly your salesperson implied that taking out the policy would assist my credit application.
• your salesperson then implied that taking out the policy was essential for me to get the associated credit
• i am concerned the sales assistant that sold me the policy had no financial background and the policy was not sold in my best interests. .

Unless you can satisfactorily justify to me that the policy was fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money. I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.

I look forward to a full and prompt response to this letter and for the matter to be concluded within eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.

Yours faithfully,

pinknico

naitch1980 wrote: »

Just to update you, after being adamant they wouldn't pay up because I'd applied for the loan online (I did apply online, but I had to phone up to process the loan), I decided to go to the ombudsman, but having mislaid the letters, I had to write to them for copies. I was confident that I was entitled to the PPI refund due to the unfair "no refunds" terms I mentioned in my original letter.

Anyway, when they sent the copies back, the letter was as follows:

"Dear Mr naitch1980

Thank you for your letter dated 18 November 2009 regarding your complaint.

After reviewing your complaint, I have arranged for the full Payment Protection premium and the associated interest to be refunded. This will be sent to the bank details that we hold for your loan Direct Debit.

The full refund amount will be comfirmed to you once the refund has been processed.

I have also enclosed copies of all written correspondence relating to your complaint.

if there is anything in this letter tha you wish to discuss etc

Yours sincerely

Mr Egg"

To which I have replied:

"Dear Mr Egg

Thank you for your recent letter dated 25 November 2009

This news is most welcome, I gratefully accept the offer of refunding the full amount of Payment Protection Insurance charged along with associated interest as full settlement of my complaint.

Thank you very much for your time & help.

Yours sincerely,

naitch1980"

I just wanted to know what anyone thinks about this on several notes.

Firstly, I am paranoid that they're going to write back to me and claim they've made a mistake.

Secondly, by associated interest, are they talking about the proportion of the interest on the loan relating to the PPI or the statutory interest or both?


This would be a really timely boost for me, so I hope they do weigh me in, but I am convinced it isn't going to happen.

Don't worry Egg will pay up and with the interest on the PPI part of the loan, can't remember if they also do the 8%.

pinknico

tilley441 wrote: »

how long should i wait before i send the next letter after sending this one?

Did you send it recorded and have Egg said they have received it?

If it was sent recorded do you have proof of delivery? it is then an 8 week wait from that date before taking to the FOS.

If not sent recorded and Egg have not replied you may need to resend recorded.

naitch1980

tilley441 wrote: »

how long should i wait before i send the next letter after sending this one?

I just waited until they replied before I sent the next letter.

pinkniko: No, I didn't send the acceptance letters by recorded delivery, however, i emailed them scanned copies yesterday to make sure they received my response yesterday, rather than when the post arrived today.

Incidentally they haven't replied to my email in order to acknowledge it's been received.

pinknico

Its ok naitch I was replying to tilley441 about recorded. letters

naitch1980

pinknico wrote: »

Its ok naitch I was replying to tilley441 about recorded. letters

My apologies, I'm so self obsessed now I'm worth a couple more than just a bag of revels & a paper clip!

Money really does change you!