PPI Reclaiming Discussion Part 5

Benji_58

Moneyineptitude wrote: »

Don't forget this is not a deadline, all it means is that you could (if you wanted) take this to the Ombudsman after eight weeks. Not much point if they've only logged it today.
My own acceptance letter has been lost by HSBC. I've now got to start another four week wait once I send a duplicate
The Bank's reason for losing my letter? I sent it recorded delivery!:mad:

It seems the banks are using any excuse - but this one I am speechless

[Deleted User]

Benji_58 wrote: »

It seems the banks are using any excuse - but this one I am speechless

Yes, see my thread for even more "hilarity"
https://forums.moneysavingexpert.com/discussion/comment/53109521#Comment_53109521

emmelou_2

Hi i made a complaint this morning to Halifax for missold ppi, my reasons being : i did not need it, ask for it had other means of paying back the loan if needed ( husband) and it wasnt explained to me in full. my reason for post is i forgot to mention it was front loaded, does that matter or should i ring them back ? any help appreciated thank you

Snooze_you_lose

I took a loan out with un-intelligent finance in 2003 and again in 2005. I was missold the PPI over the internet and as i'd had previous loans with HSBC, and had also taken PPI out with all of them, automatically assumed that PPI was just required to be lent the money so took PPI out again with IF. I wrote to them initially on 6 April, and had a response letter 4 weeks later from IF saying that they couldn't see how I was missold the PPI when I signed the paperwork and that I also had a 14 day cooling off period. I was very naive 10 years ago and because I was desperate for the loan, I did anything to just have some immediate money and my head wasn't screwed on as well as it should have been. I was struggling with the added PPI on top of my monthly repayments, but never missed any payments. I just feel gutted that i've been rejected in such a 'matter of fact way' and they even said that I could write to the financial ombudsman..... so you know what, I did just that today and posted my letter to them. I have to wait with baited breath now, as this can go on for up to a year... Fingers crossed eh...... If anyone else has any Intelligent Finance rejections, be sure to let me know. Happy claiming everyone. :j

fbfbfb_2

Hi, posted on this site about a week ago regarding mppi, on a mort taken out in 1994, complained to newcastle building soc, and they have declined my complaint. Was thinking it was a lost cause, until my husband went through their reasons for stating it was not missold. They agreed they didn't ask if my husband recieved his wages if he was to be off sick, they said they didn't have to know this....they state the mort application was based on overtime payments, and he would not recieve enhancements on his works sick pay, so we needed mppi. It clearly states on the mort application, it was based on his basic pay. We took out a further advance 2 years later, and on this application, it asks if we both recieve our wages if off sick. I did not, and my husband did, so this time they sold mppi to only HIM. (this makes no sense). They also state after 11 weeks investigating, they assume my husband does not recieve sick pay if off sick, although they admit it clearly tells you he does on the further advance application. They also claim we made a succesful mppi claim in 1998, (have never made a claim) but admit they have no proof of this. My husband asked if you say we had a claim on our mort, then surely we would have claimed for the further advance to be paid. Their answer to this was they would be regarded as the one account. How can this be as it is a diff acc number from the mort, and a separate ppi payment. Every time the complaints manager could not answer a question she would say "you signed for it". At the time of the application, an advisor in newcastle bs filled the application in, ticked what was to be ticked, and we signed some 2 pages later.
Would appreciate advice if anyone thinks we have a valid complaint. Thanks

cappo

emmelou wrote: »

Hi i made a complaint this morning to Halifax for missold ppi, my reasons being : i did not need it, ask for it had other means of paying back the loan if needed ( husband) and it wasnt explained to me in full. my reason for post is i forgot to mention it was front loaded, does that matter or should i ring them back ? any help appreciated thank you

Hi emma being front loaded is one of the biggest reasons for a misell a big no no.

[Deleted User]

emmelou wrote: »

Hi i made a complaint this morning to Halifax for missold ppi, my reasons being : i did not need it, ask for it had other means of paying back the loan if needed ( husband) and it wasnt explained to me in full. my reason for post is i forgot to mention it was front loaded, does that matter or should i ring them back ? any help appreciated thank you

I never mentioned this in my initial complaint to the Bank either. I think the Bank will see that for themselves though. Wait and see what they come back with in a few weeks...

cappo

Snooze_you_lose wrote: »

I took a loan out with un-intelligent finance in 2003 and again in 2005. I was missold the PPI over the internet and as i'd had previous loans with HSBC, and had also taken PPI out with all of them, automatically assumed that PPI was just required to be lent the money so took PPI out again with IF. I wrote to them initially on 6 April, and had a response letter 4 weeks later from IF saying that they couldn't see how I was missold the PPI when I signed the paperwork and that I also had a 14 day cooling off period. I was very naive 10 years ago and because I was desperate for the loan, I did anything to just have some immediate money and my head wasn't screwed on as well as it should have been. I was struggling with the added PPI on top of my monthly repayments, but never missed any payments. I just feel gutted that i've been rejected in such a 'matter of fact way' and they even said that I could write to the financial ombudsman..... so you know what, I did just that today and posted my letter to them. I have to wait with baited breath now, as this can go on for up to a year... Fingers crossed eh...... If anyone else has any Intelligent Finance rejections, be sure to let me know. Happy claiming everyone. :j

Call there bluff which is what it is, the loan would have been front loaded which is one of the biggest reasons for misale, you should'nt have been rejected, saying you can take it to the fos is just another one of there little games, call them up and explain that the loan was front loaded and is misold on that basis alone if they think you know what your talking about they will possibly buckle otherwise fos this you will win. It did'nt matter if you signed or not it's whether they gave you all the info you needed to make an informed decision as to whether it's been misold, not what you did or did'nt do.

jenliv

Hi all,

I've just had an offer from TSB for the repayment of PPI premiums. The letter didn't give a breakdown of the amount and it is a lot less than I've paid in (less than half)over the seven years I've had the cc, the calculation did show an 8% interest payment which also didn't add up ??
£1045.38 plus 8% (which was calculated to £9.43 ???????????????)

I rang the dedicated line and told then that I didn't agree with the amount and asked for a full break down of the amount. The gentleman didn't seem to think there was a problem with this letter and couldn't seem to answer my questions ! He will email a manager and they will look into this and contact me - do these people know what they are doing ?:laugh:

[Deleted User]

jenliv wrote: »

The letter didn't give a breakdown of the amount and it is a lot less than I've paid in (less than half)over the seven years I've had the cc, the calculation did show an 8% interest payment which also didn't add up ??
£1045.38 plus 8% (which was calculated to £9.43 ???????????????)

Obviously, I have no way of knowing what PPI you have paid, but do be aware of a few things to be certain you aren't left with egg on your face over this.

Firstly, PPI on credit cards is only paid when you have an outstanding amount. It's paid as a proportion of that amount so is not a set monthly fee as with a loan PPI policy. Were there months when your card would have had a nil balance, or when the amount outstanding was very small?

Secondly, the 8% simple interest is calculated on a sliding scale.