PPI Reclaiming Discussion Part 5

[Deleted User]

laursie wrote: »

Please advise where I go from here?

Subject Access Request (SAR )letter (cost £10) details and template here

https://forums.moneysavingexpert.com/discussion/1475553

cappo

25OR624 wrote: »

Hi Cappo, well I had a letter back from Loans.co.uk today and sure enough they have refused any compensation, they state that we were well aware of the option to have PPI and duly signed, fact was that there was NO option if we were to have the loan OK'd.

Also they state that they have looked at the circumstances and said we were both PAYE which is not the case I was self employed, and the wife was part time 20 hrs a week.If they had looked at the docs they would have seen that.

However, the main complaint is that we settled the loan after 6 months, and the PPI was over a 5 year term, and yet they have or will not comment on that!!

It seemed to be pretty cut and dried that we had a case, however they have ignored the facts and made up some more to suit themselves.

Unbelievable!!:mad:

Hi, the lenders are pretty unbelievable period, the reasons they are coming out with now to avoid paying out are incredible contact them and threaten to fos this.

cappo

julipatulip wrote: »

Hi, is 3 months a long time to wait for your money after getting your confirmation letter ?

Too long, contact them again and mention that you might be contacting the fsa to report this and it should shift them hopefully.




http://www.fsa.gov.uk/

amersall

dolphingazer wrote: »

:mad::mad: Todays phone call was awful. I spoke to Davinder, he said he couldn't find me on the system. He said he was unable to tell me if my letter had been received but as I had proof it probably had been received.
I explained that because I had proof of delivery I would go directly to fos if he couldn't tell me that my letter of complaint and forms were in the building.
He then said they only deal with first time complaints over the phone, when I said I wanted to log my complaint with him now he said I couldn't as it would be duplicated and would be rejected.
He kept saying to me leave it another week and wait for a response and if after a week I have heard nothing to phone back and make a new complaint and it would be logged straight away.
I told him I was not happy and I really hoped the phone call was being recorded.
He then gave me a phone number to ring to check and see if they could help me.
I got through to Natalie who apologised and said that number was for personal banking only. She gave me yet another number, it just keeps ringing out.:(:(:(

:mad::mad: Give it another week as they said, if you have not heard anything by this time then do the complaint again.

Please don't let this daunt you, you will get there in the end, keep me updated and enjoy your Easter weekend, don't think about this it will all come right in the end
No point giving yourself an ulcer

amersall

acute18 wrote: »

thank you but, i thought the would compensate you for this as well or was i misinformed.

When you win mis sell and you get redress, the reason for upheld does not matter, self employment does not get any extra redress when you have been paid the redress as per FOS guidelines.

amersall

clare25 wrote: »

Hello im hoping this is the right place to ask this question. I have recently wrote to Welcome finance asking for deatils of a loani had with them back in 2004. They have sent the details but i cant see it says anything about PPI insurance. But there is 2 amounts adding into the loan - £200. - medicare?? and £175.00 for lifecare 24??
I never asked for these and dont have a clue what they are! are these my PPI just 'renamed'??
Clare x

These are the "PPI!.
You could try a claim to Welcome, but be aware that due to the year you took this out they may reject your complaint, on the other hand they may not.

The FSCS are only dealing with claims for Welcome that were taken out on or before 14th January 2005.

amersall

25OR624 wrote: »

Hi Cappo, well I had a letter back from Loans.co.uk today and sure enough they have refused any compensation, they state that we were well aware of the option to have PPI and duly signed, fact was that there was NO option if we were to have the loan OK'd.

Also they state that they have looked at the circumstances and said we were both PAYE which is not the case I was self employed, and the wife was part time 20 hrs a week.If they had looked at the docs they would have seen that.

However, the main complaint is that we settled the loan after 6 months, and the PPI was over a 5 year term, and yet they have or will not comment on that!!

It seemed to be pretty cut and dried that we had a case, however they have ignored the facts and made up some more to suit themselves.

Unbelievable!!:mad:

This is good that they looked at this due to the year, write back to them and state you reject the reasons they have used.

Send this to them.


We/i reject the offer that you have made for refund for loan number xxxxxx, this policy was mis sold because of the reasons below and ask you to reconsider the offer or We/i will pass this to the FOS for a second opinion.

We/I believe we were mis sold the PPI on the above account number,and would like recordings,if any to the contrary of my/our reasons for mis sell set out below.

1)We/I were not told that the PPI was in effect another loan that was added to the original loan and was repayable over the loan term with interest.

2) We/I were not told that the PPI only covered 5 years of the loan and were not told this would still be on the loan to term with interest and the cover would end.

3) We/I were told that if we did not make a claim,or go into arrears on the PPI after 5 years we would receive the cashback of ppi but were not told this would not include the interest made on these payments that we paid over the 5 years, or that the PPI would still be on the loan to term end with interest.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:
A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been needed, if the original loan had been sold without the PPI policy.

In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that Loans.co.uk pays them back to us. We/i believe we were not given enough information on this ppi to make an informed decision. Had we/i known the full cost of this ppi we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for my/our circumstances we/I will require you to rearrange the loan as if PPI had never been included.

If number 3 does not apply then take it out, if you were offered another incentive may be a bonus payment ect, then put this in place of number 3.
Any cash incentive you may have been offered with this PPI would still leave this on the loan to term end with interest.

di3004

madmabel wrote: »

I've been told over the phone that my PPI claim on two loans with Lloyds TSB hasn't been upheld and a letter is on the way. Both loans had PPI front loaded and for both loans we were never given two amounts to choose from (ie. payments with PPI included and payments without). We were simply told how much the payments would be and accepted them as basically, we were strapped for cash and wanted the money asap. We've always wanted to keep our outgoings as low as possible so have always spread loans over long terms eg. 5 years. We would never have chosen to pay something, effectively increasing our outgoings unnecessarily, had we known we didn't have to. We both have had the same employer for over 20 years with full sick pay etc.
My question is do we stand a chance with the Financial Ombusman or are we wasting our time?

Hi there

If you don't mind me asking, what were your reasons for being mis sold.

If your not satisfied and feel they have overlooked your complaint, sometimes they will still reconsider a final decision, and you can ask if they will revisit with the further information you provided.

If you complain to the FOS, they will look into both sides, and as for already being protected when you taken these out, I assume you made them aware of that on the complaint?
I would tell them you feel you have genuine reasons to reclaim and in your right to do so, because of the reasons you previously provided them which you feel they have overlooked and not taken into any consideration, and (give any info you may have missed), ask if they can contact/write to you by 14 days as from when they receive your letter, and if you hear nothing or if nothing's changed you will be considering taking it further.

Good luck.

dolphingazer

amersall wrote: »

:mad::mad: Give it another week as they said, if you have not heard anything by this time then do the complaint again.

Please don't let this daunt you, you will get there in the end, keep me updated and enjoy your Easter weekend, don't think about this it will all come right in the end
No point giving yourself an ulcer

Thanks amersall, you are a star:A
I will enjoy my Easter weekend and not worry about anything:D
I'm so glad all of you nice people are here to help us all:):)

di3004

laursie wrote: »

Hi I wonder could anyone help please....
I contacted Egg Plc requesting a copy of the terms and conditions of my account (closed in 2007). I used the letter template of this website. They have replied stating
"As the account you refer to is now closed I have to inform you that Egg are under no obligation to comply with a request for a copy of the executed agreement under the Consumer Credit Act as we no longer have a contractual relationship relating to this account, nor are we seeking to enforce any agreement on the account. The right to be provided with this information from Egg Banking plc ended with the closure of the account. Section 78 (3) (a) of the Consumer Credit Act states that section 78 (1) does not apply where 'no sum is, or will or may become, payable by the debtor." The right to request an executed copy of an agreement is found in Part VI of the Act, which is entitled 'Matters arising during currency of credit or hire agreements'; so where an agreement is no longer current the right to request or be provided iwth a copy of the executed agreement therefore ceases."
(Sorry for so much detail but I wanted to give the full picture!!)
Please advise where I go from here?

Many thanks

Hi there

Do not worry about the agreement and continue to make a reclaim with the reasons you have. If you know you had PPI and have reasons for being mis sold, you can still make a reclaim without the need of the agreement, and if your successful they will send you a breakdown - or you can ask for this.
They will still hold data on this if you settled this in 2007 so they should have something to go by.

Just complete the reclaim questionnaire as on step 3 of reclaiming, send and keep copies for yourself as well.

Good luck.