Received my original agreement from a&l, what next??

ryanblackers

Hi all, hope you are well....

Received my original agreement back from alliance & leicester yesterday(from august 2005). Loan amount was for £10,000 and ppi was £2043.61 over 5 years. Looking through the agreement, it has a break down of the loan amount, ppi amount and interest etc. I have signed it twice, once for the loan and once to say i wish to purchase "the accident, sickness, unemployment, life and guaranteed asset protection(gap) policy.
Original policy was done online where i wasn't given the choice as far as i remember, but this was just the fianl form that was sent through for me to sign.

Would i still have a chance to claim it back...

marshallka

ryanblackers wrote: »

Hi all, hope you are well....

Received my original agreement back from alliance & leicester yesterday(from august 2005). Loan amount was for £10,000 and ppi was £2043.61 over 5 years. Looking through the agreement, it has a break down of the loan amount, ppi amount and interest etc. I have signed it twice, once for the loan and once to say i wish to purchase "the accident, sickness, unemployment, life and guaranteed asset protection(gap) policy.
Original policy was done online where i wasn't given the choice as far as i remember, but this was just the fianl form that was sent through for me to sign.

Would i still have a chance to claim it back...

You could still be missold even after signing it if at the time you did not have an option of this insurance. It can make it harder but there is a guide here

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

with lots of reasons for misselling. There may be other things applicable to your complaint. I would give it a go if you definately did not want the insurance and take it from there. Just write to A and L and state your own reasons and then give them 8 weeks for a full and final response. Don't forget to send everything recorded delivery and if you want any more help just shout away.

Good luck

ryanblackers

This is a copy of the letter i am about to send them, do you think its okay?

Alliance & Leicester Personal Finance Ltd
Customer Accounts Dept
PO Box 264
Leicester
LE1 9PP

Dear Sir or Madam,

Account number: xxxxxxxx

I purchased the above loan (along with protection insurance) from you in 13/08/2005 but now believe that I was mis-sold this protection insurance policy for the following reasons:

• When I contacted you about the insurance on my application your salesperson stated that taking out the policy would assist my credit application and was also very pushy about me taking the policy out.

· You have already been fined by the FSA for failing to treat your customers fairly when selling Payment Protection Insurance and I do not believe that my policy was 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,

marshallka

ryanblackers wrote: »

This is a copy of the letter i am about to send them, do you think its okay?

Alliance & Leicester Personal Finance Ltd
Customer Accounts Dept
PO Box 264
Leicester
LE1 9PP

Dear Sir or Madam,

Account number: xxxxxxxx

I purchased the above loan (along with protection insurance) from you in 13/08/2005 but now believe that I was mis-sold this protection insurance policy for the following reasons:

• When I contacted you about the insurance on my application your salesperson stated that taking out the policy would assist my credit application and was also very pushy about me taking the policy out.

· You have already been fined by the FSA for failing to treat your customers fairly when selling Payment Protection Insurance and I do not believe that my policy was 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,

I thought you said originally you were sold this online? I would not think that any salesman was actually involved in that?? After applying then did you actually contact them about the PPI? What can you remember of the phone call as they will perhaps have copies here? Did you ring them to ask why you had the insurance and to cancel it and they pushed it onto you? I am a little confused here? You need to get it right in the first letter as you will only have one bash;). It is hard trying to remember though.

ryanblackers

Yeah just been through a load of old notes(took me ages to find) I did ring them after my application came through to ask about the 'ppi'...and come to think of it i do remember now. I rang them to check if i needed the ppi at all and they said that i probably wouldn't get the loan otherwise..

marshallka

ryanblackers wrote: »

Yeah just been through a load of old notes(took me ages to find) I did ring them after my application came through to ask about the 'ppi'...and come to think of it i do remember now. I rang them to check if i needed the ppi at all and they said that i probably wouldn't get the loan otherwise..

There you go. Get your letter off and try and state that also in the letter above outling that you made the application online and there was no choice as to the PPI and then when you queried it with them they pushed you into it by saying that there was little chance of having the loan without the PPI.

Send it by recorded delivery and good luck.

ryanblackers

Alright people,

Had a letter arrive this morning from A&L. A nice first offer of £2114.47, happy days...just gotta sign to say i accept and should have the cheque in next few days. Also they have taken ppi off my monthly payments which brings them down from 230 to 190 a month..only got 10 months left on my loan. So not too sure weather or not to pay it off with the money....

Thank you all for your help and advice..:T

di3004

ryanblackers wrote: »

Alright people,

Had a letter arrive this morning from A&L. A nice first offer of £2114.47, happy days...just gotta sign to say i accept and should have the cheque in next few days. Also they have taken ppi off my monthly payments which brings them down from 230 to 190 a month..only got 10 months left on my loan. So not too sure weather or not to pay it off with the money....

Thank you all for your help and advice..:T

Fantastic news this Ryan :j:j

Well done and Congratulations.
:beer::T:beer:

marshallka

ryanblackers wrote: »

Alright people,

Had a letter arrive this morning from A&L. A nice first offer of £2114.47, happy days...just gotta sign to say i accept and should have the cheque in next few days. Also they have taken ppi off my monthly payments which brings them down from 230 to 190 a month..only got 10 months left on my loan. So not too sure weather or not to pay it off with the money....

Thank you all for your help and advice..:T

That is great news. So pleased for you.

Well done:T

ryanblackers

Just an update, received my cheque of £2114.00 monday and banked yesterday...thanks again.