If this okay for a complaint letter

sammyjo_3

I roughly used the template that someone had posted.

COMPLAINT

Dear Sir or Madam,

I took out the above loan for £20,000 on 14th April 2005. When I took the loan out I signed up for Payment Protection Insurance after being assured it was suitable for me as a temporary worker.

I went into Barclays on 16th October 2006 to ask to cancel it due to financial difficulties at the moment. I was informed that this was not possible but I could apply for another loan without PPI which would then pay off the existing loan. As I thought this was the only option I agreed to it to only then be informed on 18th October 2006 (when we went back into the bank) that the rate would be 19.9%, 9% more than what is being paid now. After being told this I decided to check my paperwork and see where it stated I could not cancel my PPI. I was begrudged to find that it does not actually state this but what it actually stated under your ‘Money Back Guarantee if you change your mind’ was ‘after 30 days, if you terminate, any refund of premium will reduce throughout the term of the loan’ that to me is a completely different statement to being told that you have to apply for another loan. It was then put to me (by a neutral party) to check that the PPI actually covered me as a temporary worker.

I returned to the bank on 20th October 2006 to question both these queries and was told that with regards to the ‘Money Back Guarantee if you change your mind’ clause, feedback could be given regarding the wording. Concerning my query on actually being covered, after a lengthy discussion between a Personal Advisor and the Manager I was informed that I was not covered for sickness as a temporary worker.

As a temporary worker PPI was obviously very important to me as I would not receive sick pay so therefore needed the assurance that my loan would be paid if the inevitable happened. As this is not the case I consider that I have been mis-sold this expensive insurance, which I do not need and which is absolutely no use to me whatsoever. I would like to ask for a full refund of the whole premium.

I would appreciate a reply to this letter within fourteen days. If you reject this complaint, I would be grateful if you could explain whether you provide an internal appeals process. If you do not, please supply me with a final response letter, so that I can take up the matter with the Financial Ombudsman Service.