PPI Reclaiming Discussion Part 5

[Deleted User]

Mosioa wrote: »

Should he go straight to this course of action or go back to Cap One and tell them of his intentions?

Informing the lender that a FOS referral is intended will not change their minds. In addition, the bank don't have to have "evidence" that the PPI was added during a 'phone call-the complainant is the one who needs to have evidence of any allegations they make.

Mosioa wrote: »

His claim is on the basis that they intimated it would help his app if he had it

This is a particularly weak hearsay complaint for which you can provide no proof.
In these circumstances, FOS will now take up to a year to likely side with the Bank. Cap One has the lowest complaint success rate at FOS.

Mosioa wrote: »

They sent a copy of his application form which shows he did not tick the box on the application form for PPI and said their records show there was a phonecall a few days later at which point the PPI was put in place.

This basically puts paid to the complaint that the finance was offered on condition that PPI was taken out. The finance would already have been authorised by the time this 'phone call took place. It doesn't matter that the Bank instigated the sale during a subsequent call-this is legitimate selling.

Mosioa

Thanks for the info

Hes wasnt aware that he was approved at time of phonecall (he posted app then got a phonecall about it where he said he was told that having PPI would help his app)

I was hoping that they recorded calls as hes not in the habit of recording them (from an complainant evidence point of view)

[Deleted User]

Mosioa wrote: »

I was hoping that they recorded calls as hes not in the habit of recording them (from an complainant evidence point of view)

As I said, it is the complainant that must provide the evidence.
The Bank have found none and you stand to gain nothing by writing back to them threatening FOS.
FOS accept the sales script used by Cap One at the time as sufficient evidence and the script obviously would have prohibited offering approval on condition the PPI was taken out.


You can go to FOS, but your complaint is a weak one and your chance of success is therefore very limited.

Mosioa

Ah well for the price of a stamp and a bit of optimism we can send it anyway.

Costs more to do the lottery and the odds have got to be better

Thanks for the advice Money, I'll tell him it's a VERY VERY long shot x

dunstonh

Mosioa wrote: »

Ah well for the price of a stamp and a bit of optimism we can send it anyway.

Costs more to do the lottery and the odds have got to be better

Thanks for the advice Money, I'll tell him it's a VERY VERY long shot x

By all means do that but dont be confident. FOS only overturn 11% of Cap One complaints. You could end up in that 11% but the odds are that you won't. Your complaint isnt strong from what I read (its not a provable/factual complaint but an unprovable allegation). So, don't go spending any money on the basis of winning.

CheshireCat56

My wife and I are both currently employed,but her job is now becoming a bit uncertain due to pending redundancies. We contacted our bank today to see what payment we would receive if she was made redundant, only to be told that the mortgage payment protection is only in my name and therefore she will get nothing. We started the agreement in 1999 evidently (according to the bank today) and all this time we were under the impression that we were both covered. Unfortunately I can not find the original agreement but I know that I bought the insurance over the phone and agreed cover of £500 per month, which costs us just under £30/month. The mortgage is in both our names, so my wife is equally liable to make our monthly payments. Do you guys think I have a legitimate claim against the bank? Unfortunately I have no original paperwork to prove my position.

[Deleted User]

CheshireCat56 wrote: »

we were under the impression that we were both covered.

Being "under the impression" that the insurance covered more than it actually does is not a mis-sale. It would have been a simple matter to have read the terms of your cover before signing or at any time since 1999. You can ask the bank for written terms, but this will prove nothing but what the Bank has just told you was the case since inception.
From what you say, you have no complaint.
Sorry.

dunstonh

CheshireCat56 wrote: »

My wife and I are both currently employed,but her job is now becoming a bit uncertain due to pending redundancies. We contacted our bank today to see what payment we would receive if she was made redundant, only to be told that the mortgage payment protection is only in my name and therefore she will get nothing. We started the agreement in 1999 evidently (according to the bank today) and all this time we were under the impression that we were both covered. Unfortunately I can not find the original agreement but I know that I bought the insurance over the phone and agreed cover of £500 per month, which costs us just under £30/month. The mortgage is in both our names, so my wife is equally liable to make our monthly payments. Do you guys think I have a legitimate claim against the bank? Unfortunately I have no original paperwork to prove my position.

Do you have anything on file to suggest you were both covered? MPPI is typically 100%/0% 50/50 or 0%/100% (you can do other levels but it has to balance). The only way you would both be covered 100% would be to take out a policy each.

[Deleted User]

dunstonh wrote: »

Do you have anything on file to suggest you were both covered?

The OP says quite categorically that he has no documentation to suggest both he and his wife were covered;
"I have no original paperwork to prove my position".

dunstonh wrote: »

The only way you would both be covered 100% would be to take out a policy each.

I agree.
No complaint is possible on being "under the impression". However,as you suggest, it might be different if the OP had any evidence suggesting that both he and his wife were covered.

Ju&Mel

In 2007/2008 my husband had a couple of loans that were quickly paid off and accounts closed.
We no longer have the paperwork. How do we find out if we are entitled to PPI refund?