first letter advice please

stevee24

Hi folks, new here,

Firstly i would just like to say thanks to everyone for all the info i've found here already..

I've had a few loans over the years with different places and im now starting to try to reclaim PPi payed on all of them. I've sent off my first letter, to AA Finance (sctually Bank of Scotland) and had the standard 'we are looking into it' reply. So far so good...

Im just starting to worry now that i didnt spend enough time on that first letter, could anyone please advise if it looks ok? :

Dear Sir or Madam,
Account number: XXXXXXXXXXXX

I purchased the above policy from you on the 18th October 2004 but now believe that I was mis-sold this policy for the following reasons :
　
This is due to the fact that I was not given the correct information when the policy was sold to me, as
 your salesperson did not tell me that the policy was optional.
 your salesperson did not give me full information on what the policy would and would not cover.
 i am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.
 having recently looked at the paperwork for my loan I now realise that I have been paying for insurance that I did not know I had taken out so could not have been explained to me.
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,
　
　
　
me

Maybe im just being paranoid as i now realise that i payed much more than i thought (about £4500 over 2 loans).

Thanks for any help,

Steve

di3004

stevee24 wrote: »

Hi folks, new here,

Firstly i would just like to say thanks to everyone for all the info i've found here already..

I've had a few loans over the years with different places and im now starting to try to reclaim PPi payed on all of them. I've sent off my first letter, to AA Finance (sctually Bank of Scotland) and had the standard 'we are looking into it' reply. So far so good...

Im just starting to worry now that i didnt spend enough time on that first letter, could anyone please advise if it looks ok? :

Dear Sir or Madam,
Account number: XXXXXXXXXXXX

I purchased the above policy from you on the 18th October 2004 but now believe that I was mis-sold this policy for the following reasons :
　
This is due to the fact that I was not given the correct information when the policy was sold to me, as
 your salesperson did not tell me that the policy was optional.
 your salesperson did not give me full information on what the policy would and would not cover.
 i am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.
 having recently looked at the paperwork for my loan I now realise that I have been paying for insurance that I did not know I had taken out so could not have been explained to me.
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,
　
　
　
me

Maybe im just being paranoid as i now realise that i payed much more than i thought (about £4500 over 2 loans).

Thanks for any help,

Steve

Hi Steve and welcome;)

Its a great letter, so just as long as you have covered everything that applies to you.
Your doing good.
Post as well by recorded delivery, this is your proof of posting.

Please keep us posted and if you need help at any time, just yell, good luck.;):beer:

stevee24

thanks Di, you've put my mind at rest a bit, looking forward to their reply now, will keep you posted...

Steve

di3004

stevee24 wrote: »

thanks Di, you've put my mind at rest a bit, looking forward to their reply now, will keep you posted...

Steve

Your very welcome Steve, just post up for help whenever required, you will get there, good luck and look forward to hearing the outcome.;)