Newbie needs some help please!

The_Swerve

di3004 wrote: »

Hi

Depending on how long ago it was, maybe you could get in touch with the HMRC/Inland Revenue and they may hold the details of any employment etc.
Maybe worth giving them a call by giving them your national insurance number.

Good luck.

I get the feeling that its not so much that he cannot remember, its more matching what was on the original application form!!! Employed= more chance of getting the loan etc

Maybe trying to get hold of the app form would be an answer

garymcl

The_Swerve wrote: »

I get the feeling that its not so much that he cannot remember, its more matching what was on the original application form!!! Employed= more chance of getting the loan etc

Maybe trying to get hold of the app form would be an answer

Hiya, yeah, you're right, that's what it was like....long time ago...I might be wrong!!

You say you sent a letter? I've been guided towards doing the questionnaire's.....I'd prefer to do a letter because at least then I can just keep it specific??

If you don't mind me asking, what reason(s) did you use for the missell?

Thanks

The_Swerve

garymcl wrote: »

Hiya, yeah, you're right, that's what it was like....long time ago...I might be wrong!!

You say you sent a letter? I've been guided towards doing the questionnaire's.....I'd prefer to do a letter because at least then I can just keep it specific??

If you don't mind me asking, what reason(s) did you use for the missell?

Thanks

First one...graduate loan from 1998. Bank sent me the loan agreement to sign and I noticed at the bottom of the form it said PPI was included. I remember crossing that out and writing that I didnt want PPI. Bank then rang me to say I couldnt have the loan if I didnt have the PPI. As I had already committed to buying stuff, I had to back down and have the PPI....grounds for complaint was that it was ridiculously blatent that I wouldnt be allowed the loan without the PPI.

The other two I couldnt remember what was said between me and the loan company, but given my total dislike of add on products like PPI, I know for a fact that I wouldnt have taken it out if I had been given the choice...so again, I was under the impression I had to have the PPI.

In all cases, it was a simple letter I sent. The grounds for my complaints were genuinely that I was given no other option but to take the PPI out, and thats all I said.

It turns out that that PPI was the best investment I have ever made, what with the 8% statutory interest. We have just had our first child, so the money has come at just the right time

garymcl

The_Swerve wrote: »

First one...graduate loan from 1998. Bank sent me the loan agreement to sign and I noticed at the bottom of the form it said PPI was included. I remember crossing that out and writing that I didnt want PPI. Bank then rang me to say I couldnt have the loan if I didnt have the PPI. As I had already committed to buying stuff, I had to back down and have the PPI....grounds for complaint was that it was ridiculously blatent that I wouldnt be allowed the loan without the PPI.

The other two I couldnt remember what was said between me and the loan company, but given my total dislike of add on products like PPI, I know for a fact that I wouldnt have taken it out if I had been given the choice...so again, I was under the impression I had to have the PPI.

In all cases, it was a simple letter I sent. The grounds for my complaints were genuinely that I was given no other option but to take the PPI out, and thats all I said.

It turns out that that PPI was the best investment I have ever made, what with the 8% statutory interest. We have just had our first child, so the money has come at just the right time

Firstly congratulations on the birth of your first child, thats a fantastic moment for you all.....well done!!

And secondly, thank you for making me laugh, I love how PPI could have been a great investment, I've never looked at it that way!!

What I was thinking on doing is just do a generic letter to all the lenders quoting my account/agreement numbers and simply say I am lodging an official complaint aginst the lender due to my belief that I was missold PPI as it was not explained to me neither thoroughly nor at all and that I want an investigation into this asap.

At least then they'll have to lodge it as a complaint and look into it...and as you said, don't give anything up at the start, then see what their responses are....what do you think?? Too lightweight??

Cheers

Gary

The_Swerve

garymcl wrote: »

Firstly congratulations on the birth of your first child, thats a fantastic moment for you all.....well done!!

And secondly, thank you for making me laugh, I love how PPI could have been a great investment, I've never looked at it that way!!

What I was thinking on doing is just do a generic letter to all the lenders quoting my account/agreement numbers and simply say I am lodging an official complaint aginst the lender due to my belief that I was missold PPI as it was not explained to me neither thoroughly nor at all and that I want an investigation into this asap.

At least then they'll have to lodge it as a complaint and look into it...and as you said, don't give anything up at the start, then see what their responses are....what do you think?? Too lightweight??

Cheers

Gary

My guess is that vagueness might lead to a bit of to-ing and fro-ing between you and the companies.

I would be thinking about these:

Did you ask for PPI? In some cases the PPI was added without applicants knowledge.
Were you told the insurance was compulsory or if you took out the insurance you would have a better success rate of being approved for the loan?
Were you made aware that PPI is your choice and you can purchase the same cover through a different company to the lender which could be cheaper?

Which one do you think applies best?

Alternatively you could request a copy of the application form you signed (or the agreement) and see whether you put employed or self-employed? If you put self-employed, you are laughing. I suspect (and I think you suspect as well ) you put employed...which does technically mean you might have committed fraud (any legal experts?), at that point I would be staying completely clear of any reference to employement status...but that should be ok if you have a genuine gripe on how it was (mis)sold because of other reasons.

The_Swerve

The_Swerve wrote: »

.but that should be ok if you have a genuine gripe on how it was (mis)sold because of other reasons.

Just to point out I am not saying its ok to commit fraud

garymcl

The_Swerve wrote: »

Just to point out I am not saying its ok to commit fraud

Of course, me too!!! Maybe I didnt explain myself properly

garymcl

The_Swerve wrote: »

My guess is that vagueness might lead to a bit of to-ing and fro-ing between you and the companies.

I would be thinking about these:

Did you ask for PPI? In some cases the PPI was added without applicants knowledge.
Were you told the insurance was compulsory or if you took out the insurance you would have a better success rate of being approved for the loan?
Were you made aware that PPI is your choice and you can purchase the same cover through a different company to the lender which could be cheaper?

Which one do you think applies best?

Alternatively you could request a copy of the application form you signed (or the agreement) and see whether you put employed or self-employed? If you put self-employed, you are laughing. I suspect (and I think you suspect as well ) you put employed...which does technically mean you might have committed fraud (any legal experts?), at that point I would be staying completely clear of any reference to employement status...but that should be ok if you have a genuine gripe on how it was (mis)sold because of other reasons.

I certainly never recall asking fro PPI, I recall being told by one or two of the lenders that taking out PPI would improve my chances of securing the finance (but which one of the 10 I'm looking into god knows!!) and finally, I 100% cannot recall anyone of them lenders telling me PPI was my choice and that I could purchase cover elsewhere...definitely not!!

Most of these finance agreements I'm looking at where done online, such as MBNA, EGG, GE Capital, HFC, Barclaycard etc...only one done at the bank...HSBC 25K loan!

Should I elaborate on all 3 of your suggestions on the letter?

Trawling the internet all I find are the standard template letters, no examples of what you or others have done i.e. write your own letter which is the way I think I got to go!

If elaborating on all 3 wouldnt be right, I think I'll do the 3rd one you mentioned?

Thanks again, I do appreciate this guidance.