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PPI Journey now well under way! Updates!!!
Comments
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Just an update. My brother called the claims co. today and said he would like to cancel with them and they asked 'why'? so he said 'well you're charging me 30% and my sister can do it for a lot less'! lol. So apparently the lady laughed and said 'fair enough - just send in a letter confirming you want out and you won't hear any more from us'.
So whilst on a roll he called lloyds (as per CAG advice) and got all he needed to know from them and they've started the 12 week ball rolling - happy days
Will tell him to prepare for a long wait form them if he gets an offer. He's also calling Chelt & Gloucs as we speak about his mortgage ppi.
Onwards & upwards!
Lisa0 -
Just posting up my rejection letter from crap 1:
Dear xxxx
Thankyou for your letter dated xxxx. I understand you are unhappy with the way that PPI was sold & believe it amy have been mis-sold.
We have completed a comprehensive sales review in line with the current FSA rules and guidance, and considered each of the points you have raised within your letter.
Your complaint:
You beleive that when you purchased PPI, it was sold in a way that was inappropriate. As a result you beleive if you had been fully aware of the product details at the time it was sold, you had been fully aware of the product details at the time it was sold, you would not have purchased PPI.
You have requested a full refund of premiums & interest.
Circumstances:
You applied for your cap 1 credit card by completing an internet application. When completing your application you were given the option to show interest in additional products such as PPI. You expressed an interest at this stage. We then sent a Credit card agg for you to sign and return to us, which you did on xxx 2005. In addition to signing to request your credit card, you selected the box to purchase PPI and also signed to confirm that you understood what you were purchasing. Please be aware that the PPI was not sold over the phone. No converstaion took place with a cap 1 rep when you purchased the policy.
At the time of your application you stated you were 34 years of age, employed as a xxx earning xxxx per annum and you lived in the UK. Therefore you met the eligibility criteria for the policy.
Findings:
On receipt of your complaint letter we completed a full mis-selling review including, but not limited to, your eligibilty for the product, employment status, age and details regarding the info given at the point of sale. After completing this review we have ensured that we have covered all of the points you have raised in your letter, my response to these points is below:
1/ Non-advised sale/suitablity
Cap 1 sold, and continues to sell, credit card PPI on a non-advised basis. This means that we are unable to provide advice about whether you should purchase PPI. As well as being unable to advise you about other alternative policies on the market, or to investigate what other cover you may already have in place, there was no requirement to complete a demands & needs statement. therefore we provided you with information, allowing you to make an informed decision as to whether PPI was appropriate; Cap 1 made no recommendation that the product was appropriate.
2/Cost
Details of the policy cover were available online & linked to your internet application, which provided information ergarding the cost of PPI. In addition to this, PPI premiums have been visible on every monthly statement rec'd from Cap1 where there had been an outstanding balance.
Each statement confirms to you the price that you are paying for your insurance & reflects the true cost of the policy. Therefore you have a regular visual reminsder that you have a PPI policy in force by way of the premiums being debited to your account. To date, there are no notes on your account to suggest that you had any concerns regarding the premiums. As staed in your credit agg, PPI premiums are treated the same as all other purchases made on your credit card acc, attracting interest at the same rate as prevailing on your card.
3/ Terms & cond's
Details of the policy cover were available online & linked to your application form. This summarised the cover, cost & the principle exclusions of the policy as well as explaining the eligibility criteria for the product. We then sent the full policy document, including details of the features, costs, benefits & exclusions. You were given a 30 day cooling off period to assess the suitability of the PPI. During this time you had the option to cancel the policy free of charge if you felt any aspect of the insurance was not suitable for your needs. The policy details would not have been explained over the telephone or in person because no conversation took place with a cap 1 rep when you purchased thje policy.
4/ cancellation rights
You were provided with details of the 30 day cooling off period both before & after you completed your internet application form. You had the option to cancel your PPI at any time if you felt it no longer met your needs, at which point, no further premiums would have been applied.
I have included a copy of the cca, PPI overview document & policy doc for your reference.
Conclusion:
Following a complete investigation into your complaint we are confident that the policy was sold appropriately. During your internet application you clearly indicated that you wanted to purchase the policy &, forn the info you provided us, you were eligible to do so.
As this is the case I will not be looking to refund any of the premiums or associated interest that has been charged to your account.
Financial regs rewquire me to advise you that this is my final response in relation to this matter. However, you now have the option to contact the FOS within 6 months from the date of this letter. Their contact details are enclosed etc etc etc
Sorry for the very long post - so is it curtains for me after this?!
Lisa0 -
Just posting up my rejection letter from crap 1:
Dear xxxx
Thankyou for your letter dated xxxx. I understand you are unhappy with the way that PPI was sold & believe it amy have been mis-sold.
We have completed a comprehensive sales review in line with the current FSA rules and guidance, and considered each of the points you have raised within your letter.
Your complaint:
You beleive that when you purchased PPI, it was sold in a way that was inappropriate. As a result you beleive if you had been fully aware of the product details at the time it was sold, you had been fully aware of the product details at the time it was sold, you would not have purchased PPI.
You have requested a full refund of premiums & interest.
Circumstances:
You applied for your cap 1 credit card by completing an internet application. When completing your application you were given the option to show interest in additional products such as PPI. You expressed an interest at this stage. We then sent a Credit card agg for you to sign and return to us, which you did on xxx 2005. In addition to signing to request your credit card, you selected the box to purchase PPI and also signed to confirm that you understood what you were purchasing. Please be aware that the PPI was not sold over the phone. No converstaion took place with a cap 1 rep when you purchased the policy.
At the time of your application you stated you were 34 years of age, employed as a xxx earning xxxx per annum and you lived in the UK. Therefore you met the eligibility criteria for the policy.
Findings:
On receipt of your complaint letter we completed a full mis-selling review including, but not limited to, your eligibilty for the product, employment status, age and details regarding the info given at the point of sale. After completing this review we have ensured that we have covered all of the points you have raised in your letter, my response to these points is below:
1/ Non-advised sale/suitablity
Cap 1 sold, and continues to sell, credit card PPI on a non-advised basis. This means that we are unable to provide advice about whether you should purchase PPI. As well as being unable to advise you about other alternative policies on the market, or to investigate what other cover you may already have in place, there was no requirement to complete a demands & needs statement. therefore we provided you with information, allowing you to make an informed decision as to whether PPI was appropriate; Cap 1 made no recommendation that the product was appropriate.
2/Cost
Details of the policy cover were available online & linked to your internet application, which provided information ergarding the cost of PPI. In addition to this, PPI premiums have been visible on every monthly statement rec'd from Cap1 where there had been an outstanding balance.
Each statement confirms to you the price that you are paying for your insurance & reflects the true cost of the policy. Therefore you have a regular visual reminsder that you have a PPI policy in force by way of the premiums being debited to your account. To date, there are no notes on your account to suggest that you had any concerns regarding the premiums. As staed in your credit agg, PPI premiums are treated the same as all other purchases made on your credit card acc, attracting interest at the same rate as prevailing on your card.
3/ Terms & cond's
Details of the policy cover were available online & linked to your application form. This summarised the cover, cost & the principle exclusions of the policy as well as explaining the eligibility criteria for the product. We then sent the full policy document, including details of the features, costs, benefits & exclusions. You were given a 30 day cooling off period to assess the suitability of the PPI. During this time you had the option to cancel the policy free of charge if you felt any aspect of the insurance was not suitable for your needs. The policy details would not have been explained over the telephone or in person because no conversation took place with a cap 1 rep when you purchased thje policy.
4/ cancellation rights
You were provided with details of the 30 day cooling off period both before & after you completed your internet application form. You had the option to cancel your PPI at any time if you felt it no longer met your needs, at which point, no further premiums would have been applied.
I have included a copy of the cca, PPI overview document & policy doc for your reference.
Conclusion:
Following a complete investigation into your complaint we are confident that the policy was sold appropriately. During your internet application you clearly indicated that you wanted to purchase the policy &, forn the info you provided us, you were eligible to do so.
As this is the case I will not be looking to refund any of the premiums or associated interest that has been charged to your account.
Financial regs rewquire me to advise you that this is my final response in relation to this matter. However, you now have the option to contact the FOS within 6 months from the date of this letter. Their contact details are enclosed etc etc etc
Sorry for the very long post - so is it curtains for me after this?!
Lisa
I'm struggling to find a different approach with this Lisa, even if the box was pre ticked, they say you signed alongside knowing that you were purchasing it, hopefully Di will be on later, she has much more experience of Credit card PPI complaints and how to deal with a final response, don't give up yet see what Di suggests
Successes
Sainsbury's/BOS £6,400 Paid
MBNA £3,600 Paid0 -
Thane so much for looking in Dilus x0
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Thanx lisaf - yes - your letter was more/less identical to mine. I submitted my complaint to FOS yesterday - I know that I did not have tick the "yes" box and did in fact cancel the PPI as soon as I realised that it was being charged to my account - which was after about 3 months but was never offered a refund. It is only a small claim (about £200) but am not going to give up! I have a similar situation with EGG and am in the process of completing the FOS questionnaire today. Thanks again - I will be keeping an eye out for Di's reply too!! xxx0
-
Just posting up my rejection letter from crap 1:
Dear xxxx
Thankyou for your letter dated xxxx. I understand you are unhappy with the way that PPI was sold & believe it amy have been mis-sold.
We have completed a comprehensive sales review in line with the current FSA rules and guidance, and considered each of the points you have raised within your letter.
Your complaint:
You beleive that when you purchased PPI, it was sold in a way that was inappropriate. As a result you beleive if you had been fully aware of the product details at the time it was sold, you had been fully aware of the product details at the time it was sold, you would not have purchased PPI.
You have requested a full refund of premiums & interest.
Circumstances:
You applied for your cap 1 credit card by completing an internet application. When completing your application you were given the option to show interest in additional products such as PPI. You expressed an interest at this stage. We then sent a Credit card agg for you to sign and return to us, which you did on xxx 2005. In addition to signing to request your credit card, you selected the box to purchase PPI and also signed to confirm that you understood what you were purchasing. Please be aware that the PPI was not sold over the phone. No converstaion took place with a cap 1 rep when you purchased the policy.
At the time of your application you stated you were 34 years of age, employed as a xxx earning xxxx per annum and you lived in the UK. Therefore you met the eligibility criteria for the policy.
Findings:
On receipt of your complaint letter we completed a full mis-selling review including, but not limited to, your eligibilty for the product, employment status, age and details regarding the info given at the point of sale. After completing this review we have ensured that we have covered all of the points you have raised in your letter, my response to these points is below:
1/ Non-advised sale/suitablity
Cap 1 sold, and continues to sell, credit card PPI on a non-advised basis. This means that we are unable to provide advice about whether you should purchase PPI. As well as being unable to advise you about other alternative policies on the market, or to investigate what other cover you may already have in place, there was no requirement to complete a demands & needs statement. therefore we provided you with information, allowing you to make an informed decision as to whether PPI was appropriate; Cap 1 made no recommendation that the product was appropriate.
2/Cost
Details of the policy cover were available online & linked to your internet application, which provided information ergarding the cost of PPI. In addition to this, PPI premiums have been visible on every monthly statement rec'd from Cap1 where there had been an outstanding balance.
Each statement confirms to you the price that you are paying for your insurance & reflects the true cost of the policy. Therefore you have a regular visual reminsder that you have a PPI policy in force by way of the premiums being debited to your account. To date, there are no notes on your account to suggest that you had any concerns regarding the premiums. As staed in your credit agg, PPI premiums are treated the same as all other purchases made on your credit card acc, attracting interest at the same rate as prevailing on your card.
3/ Terms & cond's
Details of the policy cover were available online & linked to your application form. This summarised the cover, cost & the principle exclusions of the policy as well as explaining the eligibility criteria for the product. We then sent the full policy document, including details of the features, costs, benefits & exclusions. You were given a 30 day cooling off period to assess the suitability of the PPI. During this time you had the option to cancel the policy free of charge if you felt any aspect of the insurance was not suitable for your needs. The policy details would not have been explained over the telephone or in person because no conversation took place with a cap 1 rep when you purchased thje policy.
4/ cancellation rights
You were provided with details of the 30 day cooling off period both before & after you completed your internet application form. You had the option to cancel your PPI at any time if you felt it no longer met your needs, at which point, no further premiums would have been applied.
I have included a copy of the cca, PPI overview document & policy doc for your reference.
Conclusion:
Following a complete investigation into your complaint we are confident that the policy was sold appropriately. During your internet application you clearly indicated that you wanted to purchase the policy &, forn the info you provided us, you were eligible to do so.
As this is the case I will not be looking to refund any of the premiums or associated interest that has been charged to your account.
Financial regs rewquire me to advise you that this is my final response in relation to this matter. However, you now have the option to contact the FOS within 6 months from the date of this letter. Their contact details are enclosed etc etc etc
Sorry for the very long post - so is it curtains for me after this?!
Lisa
Bumping for any advice, I'm struggling to give any
Successes
Sainsbury's/BOS £6,400 Paid
MBNA £3,600 Paid0 -
Thanx lisaf - yes - your letter was more/less identical to mine. I submitted my complaint to FOS yesterday - I know that I did not have tick the "yes" box and did in fact cancel the PPI as soon as I realised that it was being charged to my account - which was after about 3 months but was never offered a refund. It is only a small claim (about £200) but am not going to give up! I have a similar situation with EGG and am in the process of completing the FOS questionnaire today. Thanks again - I will be keeping an eye out for Di's reply too!! xxx
Good luck with that Cochyn. Keep me up to date with how you get on xx0 -
Make sure your brother gets it in writing from them that he no longer needs their services,contact the banks he has claims with and tell them they must not deal with this third party,otherwise he will pay the claims co fee.Just an update. My brother called the claims co. today and said he would like to cancel with them and they asked 'why'? so he said 'well you're charging me 30% and my sister can do it for a lot less'! lol. So apparently the lady laughed and said 'fair enough - just send in a letter confirming you want out and you won't hear any more from us'.
So whilst on a roll he called lloyds (as per CAG advice) and got all he needed to know from them and they've started the 12 week ball rolling - happy days
Will tell him to prepare for a long wait form them if he gets an offer. He's also calling Chelt & Gloucs as we speak about his mortgage ppi.
Onwards & upwards!
Lisa0 -
Hi lisaf,you need to take this to FOS now,Cap wont deal with you anymore with this,wait for Di to help you with the wording,you have 6 months to put this to FOS
i am sure Di will be on long before that:rotfl:0 -
Hi Amersall,
thanks for the advice on both - I will make sure he has it all in writing 0
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