freedom finance/paragon ppi claim

luckyc_2

marshallka as ever your advice is gratefully recieved and ive just emailed freedom back declining their offer and repeated my demand for the full amount plus interest by 6pm today or ill take it to the fos.
i dont really know how to work out what i should recieve but i felt that the offer was lower than i expected. after all the loan was 25000 and we had already paid over 5grand over 18months before settling the loan with a payment 0f over 35 grand. so the loan cost over 41000 in 18 months once paid up. so god knows how much of that was interest on the actual loan and how much was for ppi.
but ive got nothing to lose by sending the email and even if i do take it to fos at least i know their decision will be a fair one rather than freedoms last two pay off attempts.
and marshallka there is a beer in it for you whateever the decisions. keep up the good work.lol

luckyc_2

Had no reply from freedom and the deadline has passed. sent an email stating i will now take it to fos and i will also send freedom a letter by recorded delivery stating my intentions so there will be no confusion.
However I have left the back door open and said I would end the matter if they are willing to refund.
Doubt they will now so off to the fos i go.
as ever watch this space!

luckyc_2

was sent email by freedom saying they will not increase their offer after speaking to their senior management.
replied saying i will now take it to ombudsman and wish to make a full and formal complaint to freedom about how i was treated and i wanted the address in which to write to.
freedom replied with the initial rejection letter and added that they felt i was treated fairly.
so now going to FOS:mad:

di3004

luckyc wrote: »

was sent email by freedom saying they will not increase their offer after speaking to their senior management.
replied saying i will now take it to ombudsman and wish to make a full and formal complaint to freedom about how i was treated and i wanted the address in which to write to.
freedom replied with the initial rejection letter and added that they felt i was treated fairly.
so now going to FOS:mad:

Sorry to hear this..........:mad:
Its up to you, maybe then let Freedom know you will be going to the Financial ombudsman service and will be enclosing all evidence you have.

If I remember correctly I have heard that sometimes they can change their minds by knowing you have done this, but continue with the FOS anyway and let them know if you want to, good luck.;)

marshallka

luckyc wrote: »

was sent email by freedom saying they will not increase their offer after speaking to their senior management.
replied saying i will now take it to ombudsman and wish to make a full and formal complaint to freedom about how i was treated and i wanted the address in which to write to.
freedom replied with the initial rejection letter and added that they felt i was treated fairly.
so now going to FOS:mad:

Good luck with it Luckyc. Hope its resolved soon.

magpiecottage

The FSA is still finalising what should happen if it decides a policy is deemed to have been missold but there is a proposal in a discussion paper with guidance overdue!

For a single premium, though, it say they should refund all of the premium, plus the interest you have paid on that premium, plus interest on it all.

If they think you should have had a monthly premium policy instead then they can make an allowance of £6 per month per £100 of cover but they need to demonstrate that you would have been more likely than not to have taken it in order to do this.

And don't bother sending things by Recorded Delivery - proof of posting from the post office (free) is sufficient. FOS will normally deem it to have been received two working days later. That is only one day later than if you use Recorded and it is actually delivered the next day.

luckyc_2

hi all. sorry not updated this for ages but been quite ill with depression.
wrote to fos back in march and they were looking into complaint. they rang to ask for more info which i gave them over the phone.
then had letter from them saying it will take time but if my circumstances change to contact them. as i had depression i informed them that it i would like to see if they could sort it out sooner if possible to help with less stress on me as i am currently off work.
then got a letter from fos in june saying they would prioritise my case due to this. which i was very grateful for.
i also again emailed freedom finance(which has now changed its name to wilmslow finance) to see if they were willing to settle informally. was told they were still not budging and could not increase offer as they had only recieved a small percentage of loan from paragon. which has left me confused as to what they mean.
fos then sent a letter last week apologising for taking more time as they were still needing to examine all evidence.
so still all in the balance as of yet. but if freedom, wilmslow or whatever say they only recieved a small percentage of commision does this mean i would only get the 3,958?
if so what happened with the high amount of money i repaid for a 25grand loan? is that all interst on the loan and not on the ppi?
soooooooooo confused!!

di3004

luckyc wrote: »

hi all. sorry not updated this for ages but been quite ill with depression.
wrote to fos back in march and they were looking into complaint. they rang to ask for more info which i gave them over the phone.
then had letter from them saying it will take time but if my circumstances change to contact them. as i had depression i informed them that it i would like to see if they could sort it out sooner if possible to help with less stress on me as i am currently off work.
then got a letter from fos in june saying they would prioritise my case due to this. which i was very grateful for.
i also again emailed freedom finance(which has now changed its name to wilmslow finance) to see if they were willing to settle informally. was told they were still not budging and could not increase offer as they had only recieved a small percentage of loan from paragon. which has left me confused as to what they mean.
fos then sent a letter last week apologising for taking more time as they were still needing to examine all evidence.
so still all in the balance as of yet. but if freedom, wilmslow or whatever say they only recieved a small percentage of commision does this mean i would only get the 3,958?
if so what happened with the high amount of money i repaid for a 25grand loan? is that all interst on the loan and not on the ppi?
soooooooooo confused!!

Hi there

Sorry to hear of your depression, I remember my hubby when he went through this when the loss of his job when the plant closed down, it was very difficult, so try to look after yourself if you can.

I am confused on that as well to be honest, but, is this loan still running? and do they mean that if successful you would receive all the ppi you have paid to date with interest perhaps?

Sorry if I have mis read, but if you could maybe post up the calculations, from the date loan was taken out, if settled the date, the loan amount and the ppi, the monthly amount and so on, someone will surely take a look at them for you.
I am however hopeless at working out calcs, Robbedofmymoney should be here at some point, so maybe he will take a look at them for you, or someone else, fingers crossed with this, please keep us posted.;)

luckyc_2

di hun all info on loan and repayment on first page of my post. we took loan out in 2005 and paid it off 17 months later in full.
all other repayments etc are in first part of post.
and i have bipolar depression type 2 which has only just been diagnosed but had it forr 20 years the psychologist worked out. its not easy at times and the latest episode been very bad. but medication and therapy helping and hopefully back at work in a couple of months. hope your hubby is keeping himself ok. depression is not easy but there are ways through it. drop a line anytime if you need to chat.x

di3004

luckyc wrote: »

di hun all info on loan and repayment on first page of my post. we took loan out in 2005 and paid it off 17 months later in full.
all other repayments etc are in first part of post.
and i have bipolar depression type 2 which has only just been diagnosed but had it forr 20 years the psychologist worked out. its not easy at times and the latest episode been very bad. but medication and therapy helping and hopefully back at work in a couple of months. hope your hubby is keeping himself ok. depression is not easy but there are ways through it. drop a line anytime if you need to chat.x

Bless you pet, it must be difficult for you, and I assume you have informed the FOS of these details since the diagnosis?

Someone else on here actually wrote to the manager called:
Natalie Ceeney at the FOS, and it helped them have their case dealt with quicker as well.
You could also do this too, I am not too sure of her direct contact details but you could write a letter address it to her with the address of the FOS.

That is lovely of you, thanks honey.
My hubby have returned to work now and things have settled down great now, but of course I will drop you a line some time, thank you.

Keep your chin up, you will get there and thinking of you. XXXX:A