Intelligent Finance

Red_peppers

well done to all winners

My husband had a loan with intelligent finance which included ASU cover.

As he is a self employed business owner we thought this was not necessary.
In May / June I sent off a complaint to them and in sept received a letter not upholding the complaint, but not giving reasons why, but if he had anymore info to add let them know and they would re assess.

I wrote back to them and asked for them to look at it again and to give reasons for their decision, re emphasising the self employment.

In October received a letter saying original letter was a final response go to the FOS, still with no reasons given.

So I wrote another letter and sent it to the CEO of Lloyds, asking why did they ask for further info if they were just going to ignore it and stick by their decision.

I have just filled in the FOS paperwork ready to send when a letter arrives from Intelligent Finance in reference to contacting the CEO.

They are adamant that my husband was covered under the insurance and enclosed a copy of the summery.
It states: you are eligible for ASU cover if you are aged between 18 -65, are in full time employment or self-employment and have been for at least 6 months.

They have offered £50 in recognition of the inconvenience for them not giving a clear explanation of the reasons behind their decision.

So should I shred the FOS letters and chalk it up to experience?

Thanks Red

di3004

Hi there

That is odd that they could not give reasons on why to reject.

Was it IF that set up and sold you the account?
I would have assumed it would be down to them - who you complain to.

But personally I would not stand for that, so wonder if your local MP could get answers out of them perhaps.

Myself and others have suggested MP's where they may write and push this quicker and hopefully for a quicker response.
Remember you voted and they should help you back or maybe you intend to vote for them in the near future, maybe worth a shot first and see how that goes, but having no explanation to not being given any reasons on why they rejected the complaint beats me!

Even if they say it would have covered him, your hubby still had his reasons to make a reclaim, good luck.;)

magpiecottage

Red_peppers wrote: »

My husband had a loan with intelligent finance which included ASU cover.

As he is a self employed business owner we thought this was not necessary.

On the contrary. If he had fallen ill and been unable to work how would he have met the repayments.

In May / June I sent off a complaint to them and in sept received a letter not upholding the complaint, but not giving reasons why, but if he had anymore info to add let them know and they would re assess.

It would have been wise to give reasons.

They are adamant that my husband was covered under the insurance and enclosed a copy of the summery.
It states: you are eligible for ASU cover if you are aged between 18 -65, are in full time employment or self-employment and have been for at least 6 months.

That seems to indicate that an unemployment claim would have been possible as well.

They have offered £50 in recognition of the inconvenience for them not giving a clear explanation of the reasons behind their decision.

That would seem to be consistent with what FOS would award in such circumstances.

Red_peppers

Thank you for your help.

In regards to the point of being a self employed business owner, my husband would pay himself for as long as he was off sick. He has a smaller share partner and several staff employed.
So when the question was asked about how could you cover repayments and for how long, the answer was, well the same as they would always be met and for 52 weeks was put on the paperwork.

He owns the books and the premises of the business.

If he would have been covered then fair enough we will draw a line under it.

Thank you