PPI Reclaiming Discussion Part 5

yogaflame

Yeah agree moneyineptitude definately a bog standard letter. The main response to my complaint is that the person who sold me the PPI did so from a policy booklet and that its guidelines were followed. I am not sure how he can assume that from 14 years ago. The paragraph goes like this:

"when considering the policy booklet I can conclude that we did supply you with sufficient information to ensure you could make an informed decision as to whether the policy met your personal requirements".

They say that the advisor acted fairly and accordingly through out the sale.

so this looks like my word vs theirs, I do feel that I was not clearly explained to regarding if I required PPI and that it was neccesary but due to it being a long time it is difficult to prove.

Regards
Yoga

[Deleted User]

yogaflame wrote: »

so this looks like my word vs theirs,

Unfortunately, this is the weakest complaint possible because it is impossible to prove.
Sorry.

yogaflame

Indeed a tough predicament, so the question beggars do I use a claims company to see if they can process it? I know it is the last resort, I am not sure going to the FOS will work, I really do not want to walk away from this but feel I am getting to an end position.

Regards
Yoga

[Deleted User]

yogaflame wrote: »

so the question beggars do I use a claims company to see if they can process it?

I'm afraid that you have no right to complain again whether with or without a Claims Company. You can only complain once and the Bank would refuse to entertain further complaints about the same PPI policy.
Did you think a Claims Management Company could somehow improve your chances of success?
How?
It's the same weak complaint!!

Your only remaining course of action is to refer your complaint to FOS. Do be aware it could take a year or more for a very uncertain outcome.

yogaflame

Money, I know it was a desperate call, think I may have to chalk this up to experience. I am going to call up and cancel my PPI when I have finished work today.
Please excuse my ignorance and if you do not want to answer i understand but how do people prove they were mis sold? Would the banks use the same argument that they followed guidelines and that the person who sold it worked in a fair and according manner?

Regards
Yoga

taxi24

appoligies if im posting on the wrong page.Today i found a letter i received from my cc,for ppi insurance.The letter says thank you for taken out ppi on your flexible account plus cc,it offers complete peace of mind by covering most of your flexible accpurchases for 100 days,or 365 days if your purchases are made through any littlewoods catalogue,so what ever you choose to buy ie clothes ,household goods,pp can give you a brand new replacement on most of you purchases,this includes small items that are normally covered on your home insurance,in addition your monthly repayments can be paid,if you cant work due to unforeseen events such as accident,illness or involuntary unemployment,or if you dont work but live with a partner who does they can have the unemployement and disability cover,proctecting your outstanding flexible acc balance up to a maximum of £10,000.Dont forget all these benefits cost just 1.22% of your outstanding flexible aa balance, this will be clearly shown on your statement.Your certificate of insurance is enclosed to explain your new cover in more detail including how it is administered and how to make a claim.My question to you is having this letter sent out to me for ppi,would this be classed as been giving the right information about this ppi insurance,sorry for the long post,would be most obliged for any help,the letter is dated for november 2004

amersall

cappo wrote: »

How's it going sweetheart?

:j:j Hi stevie baby xxxxxxxxxxx doing good, how's you? :D

amersall

Longroadahead wrote: »

Hi - has anyone managed to successfully claim back PPI fromthe Funding Corporation. I took a loan out in 2004 and am sure the PPI was mis-sold. The loan was settled in full in 2007. In between I tried to cancel the PPI but they told me it wouldn't reduce the monthly payment. Amongst other mis-selling practice, I know I wasn't told about the limited cancellation period.

I have sent my first letter asking them to confirm PPI on the account and my intention to issue complaint. Their reply just states that they believe as 6 years have passed since the PPI was sold they believe it is statute barred pursuant to Section 5 of the Limitation Act 1980. I know this is rubbish. However, they also state that they do not believe my loan falls under jurisdiction of the FOS as it pre-dates 2005. I have seen a few other posts referring to this but can see no evidence of anyone following it up with them.

I know the FOS ultimately won't be able to deal with my complaint - any advice on a way forward with TFC would be great.

Thanks

Contact FOS and ask if you can go after the insurer, the reason for mis sell that you use is the fact this was Single Premium PPI and the full cost and unfair rebates of this PPI were not fully explained to you.

amersall

ketty27 wrote: »

hey that sounds, good they said there going to send me an offer letter tho? also what u mean by 8% interest im useless at this

The 8% amount is compensation for the PPI, this is taxable if you are a tax payer, see if the bank take the tax off, if they don't, then you have to inform HMRC, if you are a non taxpayer and the bank take this off then phone HMRC and ask for it back.

amersall

gillybean21 wrote: »

hi, think you have longer but maybe it gets more difficult ! i am also new to this and trying to find a finance company we used to buy a car in 2002!! bought the car from carland, who we think are now carcraft. think the finance company were called' online finance' but dont have any paperwork due to tidying up !!! hey ho onward and upward:mad:

Call FSA and see if they can find this company.
Give FOS a call and ask if you can go for the insurer, the claim is too old to go mis sell to the company as they would not have been regulated in 02, the FSA or FOS should be able help you.