FSCS - Compensation

pinknico

Thanks honey2, hope they can appeal and win their claim.

di3004

Yes me too.
Good luck.;)

These policies are now banned though ain't they?
They should take into account that these are very costly, and surely if we were all made aware of the costs and on how they worked, none of us would have been ripped off as we would not have opted to accept it, if given the opportunity, that is one complaint alone without anything else in other reasons....

beaniebabe

honey2 wrote: »

Hi,

I have spoken to my friend, it is a member of their family who has received this letter. Apparently their main argument for their policy being miss sold was that they were adamant they were not asked about pre-existing conditions and they were not told about the policy being for 5 years.
Apparently the recorded calls show that they were told by the person from Picture at point of selling that pre-exisitng conditions would not be covered, however they were not told that the policy was for only 5 years and not for the entire term of the loan. They have received a trans script of the calls from about 3 or 4 years ago. Apparently as part of the claims process as much info as possible is looked at even all the recorded telephone conversations if they are available are listened to.
They are going to ask for their claim to be relooked at because they were not told about the policy only lasting 5 years.

I am always sceptical with info when it is friends of friends giving it to you - you are always not 100% sure that you are getting the true story as it goes from one person to the next. It is very true that people get embarrassed and don't alway give the full story.

Hope I have not upset anyone today but thought it was best to share what I had been told I am remaining up beat and positive that everyone's claim will be ok.

Honey2

Thanks honey for this and don't worry you haven't offended me;) Like many of us we need to hear the negatives as well as the positives :DX

honey2_2

I believe it was below 100, mine was below 10 - My partner has just come in, just confirmed that when talking to the FSA way back in Jan 08 which was when we realised there was a problem, they advised that when any person makes a claim against a company for miss selling ect, full investigations are carried out and all available information be it data held on computer, telephone recordings etc, if they are still available will be requested from the finance company or bank and will be used in order to look into claims.

:rolleyes::rolleyes::rolleyes::rolleyes:

marshallka

I don't think you will have any probs here as all complaints are from when regulations were in place anyway and there was a lot to comply with since 2005

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/rules-codes.html#1

beaniebabe

My reasons for miss selling were:
The policy covered my OH and not both of us as we were led to beleive,
My OH was only temporary employed.
We both had pre existing medical conditions. We backed this up with a letter from GP.
We were not informed that the policy only covered the first 5 years only.
We were informed this ppi was select to picture and the best deal on the market.
We were informed we would not get a better /cheaper deal.
We were not informed that if we missed any repayments we would lose the bonus pay out after the first 3 years.
The representative never spoke with OH and dealt with me only!!

I hope they pay us out cos I am sure my claim would embarass them in court!!!

di3004

beaniebabe wrote: »

My reasons for miss selling were:
The policy covered my OH and not both of us as we were led to beleive,
My OH was only temporary employed.
We both had pre existing medical conditions. We backed this up with a letter from GP.
We were not informed that the policy only covered the first 5 years only.
We were informed this ppi was select to picture and the best deal on the market.
We were informed we would not get a better /cheaper deal.
We were not informed that if we missed any repayments we would lose the bonus pay out after the first 3 years.
The representative never spoke with OH and dealt with me only!!

I hope they pay us out cos I am sure my claim would embarass them in court!!!

Beaniebabe, you have more than enough genuine reasons and a very strong case, you will be fine.;)

beaniebabe

Oh and whilst my OH has been off work ill and we made enquiries to claim we were informed that we couldn't due to him being on a temporary contract at the time we took out the loan.

beaniebabe

di3004 wrote: »

Beaniebabe, you have more than enough genuine reasons and a very strong case, you will be fine.;)

I hope so Di.;)

di3004

beaniebabe wrote: »

Oh and whilst my OH has been off work ill and we made enquiries to claim we were informed that we couldn't due to him being on a temporary contract at the time we took out the loan.

Well there we go.........answer to this is..........mis sold.;)