PPI Reclaiming Discussion Part 5

amersall

i_am_a_stupid_bloody_moo wrote: »

Hi I took out a £10k loan online with Egg in 2003 the loan was paid up in 2008. In 2009 I wrote to Egg to complain about being missold the PPI on it(used template letter from this website). I got a reply several days later and they stated:
"after carrying out a review of your account our records indicated that you purchased your insurance through the Egg website on 20 April 2003. We do not provide an advisory service, as part of our online sales process. However, prior to submitting your online application, you were asked to read the terms and conditions governing this policy and you were required that you were required to specifically confirm that you agreed to them. In addition a paper copy of these terms and conditions were sent to your account address prior to the purchase of the policy being completed. Our records are therefore unable to highlight whether you provided incorrect information..

Upon receiving this letter I was dispondant and filed it away believing I had failed and didnt persue it through the FSO. Can I try again with Egg or have i blown my chances? I cant be sure whether the insurance was already ticked on the applcation and I was supposed to unclick.

Can someone please advise me.

Do you still have the rejection letter from Egg and was this the final response?, if it was the final response then you have missed your chance to take this further.

Do you know if this loan PPI was paid back each month with the loan payment or did you make this PPI payment separately?.

amersall

Fairy123 wrote: »

Hi can somebody please help me I took out a morgage in 1997with Bradford and bingley. I paid the morgage off in 2006. Firstly can I claim ppi from them because of the dates I had the morgage.
And secondly can somebody please give me details of who I write to because bradford and bingly are closed now and plus I went through a broker who I can't remember name of. Does the fact that paid the morgage off early make a difference?
So can you claim ppi on morgages? Sorry for sounding like a thicko....

Post your question here

http://forums.moneysavingexpert.com/forumdisplay.php?f=187

They can help you more regarding MPPI.

magpiecottage

Fairy123 wrote: »

can somebody please give me details of who I write to because bradford and bingly are closed now and plus I went through a broker who I can't remember name of.

If you purchased the policy through a broker then it is the broker you must complain to.

However, you have given no reasons to suppose it was missold to you. How would you have avoided losing your home because you could not keep up the repayments if you had lost your job or fallen ill?

In addition, there was no regulation of PPI sales in 1997 so you will not be able to rely on FOS and even if you have evidence that you think would persuade a court you would need to start proceedings within fifteen years of the advice or they could timebar it. 1997 was fifteen years ago and you cannot even remember who sold it, let alone how to contact them and make a case against them.

So I do not see that you have a case.

magpiecottage

i_am_a_stupid_bloody_moo wrote: »

Hi I took out a £10k loan online with Egg in 2003 the loan was paid up in 2008. In 2009 I wrote to Egg to complain about being missold the PPI on it(used template letter from this website). I got a reply several days later and they stated:
"after carrying out a review of your account our records indicated that you purchased your insurance through the Egg website on 20 April 2003. We do not provide an advisory service, as part of our online sales process. However, prior to submitting your online application, you were asked to read the terms and conditions governing this policy and you were required that you were required to specifically confirm that you agreed to them. In addition a paper copy of these terms and conditions were sent to your account address prior to the purchase of the policy being completed. Our records are therefore unable to highlight whether you provided incorrect information..

Upon receiving this letter I was dispondant and filed it away believing I had failed and didnt persue it through the FSO. Can I try again with Egg or have i blown my chances? I cant be sure whether the insurance was already ticked on the applcation and I was supposed to unclick.

Can someone please advise me.

Almost certainly Egg will have given you six months to complain to FOS. If that was given to you in 2009 it will long since have expired and if you go to FOS now Egg can simply object to it considering your complaint.

If you go to court the the 2009 complaint will be used as evidence that you knew you had grounds for complaint more than three years ago and it is more than six years since you took the policy out so it can rely on Section 1A of the Limitation Act 1980 and timebar you.

bmc85

Moneyineptitude wrote: »

You both need need to send a Subject Access Request (SAR) letter to your respective lenders. It costs £10.



Sinfullou, you need to dispense with the Claims Management Company if it's still possible:(

I'm going to phone the companies first to see if I can get any info from them, would I just say I believe I may have been miss sold PPI and I want to enquire if they still have my details on record?

I have also found out that Welcome Finance are in default and the FSCS are dealing with any compensation for loans from 15th Jan 2005 onwards. I honestly cannot remember if my loan was before then or not. What would happen if it were before that date?

online_article wrote:

FSCS declares Welcome Financial Services Limited in default
2nd March 2011

Customers of Welcome Financial Services Limited (WFSL) may be entitled to receive compensation from the Financial Services Compensation Scheme (FSCS) in relation to advice on or the arranging of payment protection insurance (PPI) by the firm on or after 14 January 2005. The FSCS does not cover claims for compensation in relation to PPI business conducted prior to that date.

The FSCS has declared WFSL in default. This is because the firm is unable, or likely to be unable, to pay claims against it in relation to PPI. WFSL sold a substantial number of PPI policies to its customers, and a declaration of default opens the way for those customers, and any others who might have valid claims against the firm that are protected by the FSCS, to make a claim.

The FSCS will now be responsible for PPI claims against WFSL. To assist in its handling of claims, the FSCS has arranged to use WFSL’s claims handling resources. However, the FSCS will remain responsible for all decisions on claims, which will be made in accordance with FSCS rules, and will closely oversee and monitor all steps in the handling of claims. This arrangement will enable claims to be processed more quickly and efficiently.

How to make a claim for compensation
The FSCS will be making arrangements to contact all policyholders who were sold PPI by WFSL on or after 14 January 2005, and will work as quickly as possible to process any claims received.

If you do not want to wait for an application form to be sent to you, you should contact WFSL’s customer services team on 0845 373 0386 or write to them at Welcome Finance, P O Box 10950, Sandringham House, Harlow, CM20 9JF. Alternatively, you can contact the FSCS customer services team on 0800 678 1100 or 0207 741 4100 to ask for an application form to be sent to you to make a claim for compensation.

If you have previously submitted a complaint to WFSL relating to a PPI policy that was sold to you on or after 14 January 2005, and you are awaiting a response, you do not need to do anything more. We will send you an application form.

How long will claims take to process?
WFSL will work as quickly as possible to process claims for the FSCS. We will keep claimants informed of the progress of claims.

Emmroyd

Hi - I regularly read the forums on MSE and have found them really useful over the years, inparticular I would like to THANK MSE for the advice on PPI claims which have so far resulted in myself and my husband both receiving over £350 each recently from Cahoot for loans dating back to 2003.

I have submitted a claim for my Argos card, I took out the card in 2001 and didn't realise there was PPI on it until seeing it on a statement in 2009, I immediately contacted them to get this stopped which took 4 phone calls and ended up with the escalations department :mad: before it was resolved. I filled out the questionnaire a few weeks ago, I received a response within 28 days to say they were looking in to it and would respond within the next 28 days, I then received a letter on 17 April to say they do not believe I was mis-sold the 'coversafe insurance' and that the account was set up 'before the FSA's Insurance Conduct of Business rules were introduced'...does anyone know what this means and should it make a difference to my claim, it didn't seem to matter in my claim with Cahoot? I intend to respond to this asking that the outcome be reconsidered but wondered if anyone had had any similar experiences with Argos or any advice?

I am also intending to make a claim to Friends Provident for Income Protection we were sold when first taking out our mortgage, I am fairly confident we were mis-sold this as were sold 2 policies with different companies for the same thing, however not sure if I my claim will be successful as the policy was cancelled at the end of 2006 / start of 2007.

Thanks :-)

babie_gurl

Hi everyone i am looking into reclaming my loan ppi i have some questions ..... i took a lone with rbs out in 2005 they somewhat told me that i needed the loan guard to get the loan .
the bank then sent me the pwork to sign with the loan guard included do you think i have a case ?? i still have the note that was attached saying if you wish to go ahead please sign but i wasnt given any terms and conditions on the loan guard infact it says all terms and conditions will be given when i have signed for the loan ??
also im slightly confused to what number i need to give them i have an application refrence number /credit agreement ref no would this be what i should quote ??
sorry if i seam dim but i get really scared doing things like this maybe i should just get a companie to do it for me ?
kind regards
bg

Tessyt

Problem I have though is I reclaiming PPI on behalf of my OH & he doesn't recall if he had PPI or not so I was hoping to get the t&cs to prove this before sending off the checklist.
Is there any other way to find out if he had PPI other than the t&cs?
With Barclaycard PPI not apparent from the credit agreement/t&cs should I go back to them & ask again?
Thanks
Tess

amersall

babie_gurl wrote: »

Hi everyone i am looking into reclaming my loan ppi i have some questions ..... i took a lone with rbs out in 2005 they somewhat told me that i needed the loan guard to get the loan .
the bank then sent me the pwork to sign with the loan guard included do you think i have a case ?? i still have the note that was attached saying if you wish to go ahead please sign but i wasnt given any terms and conditions on the loan guard infact it says all terms and conditions will be given when i have signed for the loan ??
also im slightly confused to what number i need to give them i have an application refrence number /credit agreement ref no would this be what i should quote ??
sorry if i seam dim but i get really scared doing things like this maybe i should just get a companie to do it for me ?
kind regards
bg

It is the Reference/credit agreement number that you give with the reasons for mis sell.
A company will only get the loan details from you and post them to the bank, for this they will charge a % plus VAT.

Did you pay the PPI as one monthly payment in with the loan?, if you did then this is Single Premium PPI and is the most upheld of all PPI reclaims, this PPI was put on at the start of the loan and you pay this over the term with interest, use this as a reason for mis sell if this was how you paid the PPI.

You can do this over the phone
Call 08457 24 24 24
Or put the complaint in writing to the Manager at a local branch of RBS
How easy is that? and all it cost you was the price of a stamp.

onemoment_2

Hi, I am trying to work out if an offer of compensation for the mis-selling of ppi is correct

The details :-
endowment mortgage of 36500 taken out in 1989
ppi added without me knowing until I found out 8 years later

I cancelled it when i found out as it was not or would ever be suitable for my circumstances

lender has made an offer (used the forms on here, many thanks)

What would be a fair offer of compensation

thanks in advance
Mark