We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
FSCS - Compensation
Comments
-
My reasons for mis selling were for the loan taken out in May 06(interest rate 7.9% )were:
5 year policy. paid over 25. No figures for total amount to pay on PPI or Loan. Single premium. Sold as a saving plan.Nothing explained.
Top up knew what I was getting but didnt think I should have a whole new policy just for a top up, especially as still had to pay off a chunk of the first
policy that was cancelled. Hospital cover was on my demands and needs but you have to be 65 to qualify with this policy! Genuinly did not know I could get a policy anywhere else cheaper and monthly.
Should never have been given this top up. I wasn't working by this point so how they could justify upping the loan on just husbands wage is beyond me.They never spoke to my husband or did any checks I am sure!
Things I would add in appeal only just found out in original policy I was not covered for accident , sickness etc and I was employed as well. They never spoke to my husband EVER!
My husband already had life insurance in place but was never asked this and still felt had to take policy.
Feel I will not win my claim as we dont have any pre existing conditions and this seems a common factor on the people who were successful and person who were not.
The reasons you have given are the same as ours other than the new policy you had take out. That is something else in your favour as surely that cannot be right!!
I don't think the pre existing cons is anything for you to worry about. Even if you did have these, accoring to the policy you would not be covered anyway as it only covered the first named. So I cannot see how they can decline your claim on these grounds.
From what I can gather, Honey2's friend only put this one down and if what they say about the phone call is correct, that's why she has lost.She will , as we have all said go to appeal stating the other mis sell reasons.
They couldn't have made it up about the recording!!!!
Try not to worry too much(easy to say) i'm sure you have enough reasons on your mis sell
The one I did stress upon was the full cost of the PPI not being shown on the paperwork and also having some Insurance already in place.
I am still very nervous even though we have received the email requesting more info, doesn't mean we have won the claim!!!!!!!dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
pinknico
have you reas the link marshallka posted last night re - reasons for mis sell. It is really good. If you haven't read it have a look.dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
Just thinking again about Honey2's friend's claim. she spoke about the box on the loan document which clearly states about pre-existing conditions and also cover is for 5 years only. I think she feels this is also the reason she was declined.
But remember we have put one of our main reasons as the single premium policy, and paying for the duration of the loan, I just cannot understand if she used this as a reason, how her claim could possibly have been declined.
I don't mean this to be disrespectful, but as she is so distressed, maybe at the moment she cannot remember all that was said- it has been such a long time. dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
Just read through the posts quickly and see that no-one has heard anything today. I would still say to hang on and not panic (easier said than done I know) and hope you ALL hear by next week.
Its my daughters birthday tomorrow so will try and pop on later on but been banned from the puter till then...0 -
PPI element 19.97% so 19.97 of your repayments went to the PPI beingThis is my loan figures -
AMOUNT OF LOAN £42,000.00
PICTURE PPI £10,479.00
TOTAL CREDIT £52,479.00
SET UP FEE £00.000.00
MONTHLY INTEREST RATE 0.716%
APR 8.9% VARIABLE
REPAYMENT £436.70
REPAYMENT TERM 276 MTHS
so far paid 16157.90 - the settlement figure was for £60,200.12:eek:
Honey 2 x
£87.20 a month. Total PPI if the loan went to term is £24067.20.0 -
thought you were not allowed near the puter today:Dyou can't resist can you;)marshallka wrote: »PPI element 19.97% so 19.97 of your repayments went to the PPI being
£87.20 a month. Total PPI if the loan went to term is £24067.20.dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
-
Hi Pinknico
Apparently so, they are adamant that the advisor said nothing. I have not seen their claim form - My friend and I have had a look through their docs over the last day or so. They are just so distressed about this whole situation.
There is a booklet and letter that was sent to them prior to finalising the loan. It states any pre-existing conditions prior to taking out the loan will not be covered by the PPI. The accompanying letter pre dates the signing of the loan papers!!!!
They said the other item they put on their form was that the PPI was not for the full term but only for 5 years.
To be honest I think, they could have found it useful at the time of making a claim to the FSCS to get some more advise in completing the form. I think they were embarrassed to tell anyone even family!
Anyhoo this booklet actually does say the term of PPI however it does not say the 1st named applicant is the only person covered. I defo think they can ask for this claim to be re-loooked at.
Honey 2 xx
Honey2
In the box you are talking about it does say "joint life cover and single Acc,illness and redundancy/business failure cover for the first named borrower.!!!!dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
this might sound a silly question, as this was her main reason for claim, but does your friend have pre existing medical conditions, that can be backed up with medical evidence. you never saidYep my loan form does not have this box on it either - I think they have been refused because it clearly says on the form please read and sign if you agree, it was all there in black and white detailing what the PPI was, who and what it covered and how long for.
They are going back to the FSCS stating they were never asked about pre exisitng conditions, it was Mrs who always spoke to Picture they never spoke to the OH and it was the OH who was covered.
Honey2 x dialysis,mammamia,honey.beaniebabe,saltyfish,funky,Gumbi,Lian,doogle,oldwulf,pinknico,Halpin,alyson,Barloo,jadone,demir,netabc,chickpee,dannyboy,tomgaskel,Lozza001,sandzb,di,marshallka,pengi,lynnie,busbyh,moggy,Kim66,honestbob,tobione,itdonk,arrongborne,thunders,newtonchang,mbones,showergirl, coffeetower,hayston,sappy,dolallytap,AuntieDeedee0 -
Do we know what reference number Honeys friend was? Only very low numbers (under 10) on here so far have received confirmation of a cheque.DS1 12/10/04
DS2 13/07/06
DD1 06/12/070
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards