PPI Reclaiming Discussion Part 5

2-cats

amersall wrote: »

Ask them "what evidence" they refer too and ask for a copy, if you could have repaid the card in any eventuality, had life insurance or savings then dispute this.







Just because they gave you "a booklet and a summary of the policy" does not mean that everything was explained to you and they should not use this as an excuse.
Get back in touch and see what they say, if you get no joy then send it to FOS, they should not use sending you a booklet with the terms of the insurance as reason for not upholding your complaint, make sure you tell FOS this as well.

Thank you for your quick reply.

Is they a template to use as a guide when I reply to the halifax by letter as i am not the best at writing a letter. I coukd just wright and say what you have suggested or shall I just ring them up?

To pick up on your point regarding 'could I have repaid' I had no way of repaying as I had no life insurance or any savings at the time. Should I state this when I reply?

Thanks Ian.

amersall

Omollmeg wrote: »

My partner took out a few loans with Lombard which finish this month which is great, however unknowingly he had PPI on all of them. I sent all the appropriate letters and today recieved a large pack back from them to say they will not uphold the complaint and have sent us all p/work signed by my partner agreeing to there terms. He was under considerable pressure at the time and vaguely remebers them saying he wouldn't get the loans without the cover so my quetion really is should I persue this and go to the ombudsmen?
Thanks all :think:

If you made the loan and PPI payment in one monthly payment then this was Single Premium PPI, this reason is not a guaranteed win and if you had a good sick package, life insurance and/or savings that you could have repaid the loan in any event then use those reasons too.

These were probably consolidation loans and when one was repaid out of funds for the next loan, there would have been a rebate for the PPI but the remaining PPI would have been paid back in settlement that came out of the second loan
( and so on along the chain), you then pay interest again on this portion of the previous PPI.

Single Premium is in fact a loan on the loan to term end with interest, the full cost of this PPI would not have been explained to you fully at the point of sale to make an informed decision, as the loans were consolidations then use the reason I give above for the consolidation and reject the rejection and ask them to look at this again, if they still reject then send it to FOS, there is a long waiting time but hang in there.

-taff

2-cats wrote: »

To pick up on your point regarding 'could I have repaid' I had no way of repaying as I had no life insurance or any savings at the time.

You've just shot your complaint in the foot then.

You've just proved your need for the PPI.

[Deleted User]

2-cats wrote: »

To pick up on your point regarding 'could I have repaid' I had no way of repaying as I had no life insurance or any savings at the time. Should I state this when I reply?

If you couldn't have paid then you can't use this reason in response to the rejection. Don't mention this at all in your reply as it will simply weaken your case still further.

amersall

2-cats wrote: »

Thank you for your quick reply.

Is they a template to use as a guide when I reply to the halifax by letter as i am not the best at writing a letter. I coukd just wright and say what you have suggested or shall I just ring them up?

To pick up on your point regarding 'could I have repaid' I had no way of repaying as I had no life insurance or any savings at the time. Should I state this when I reply?

Thanks Ian.

If you had no savings or life insurance then there would have been a need for this insurance as the bank have said. I don't know how you can get round this fact unless you could have repaid this by other means.

2-cats

-taff wrote: »

You've just shot your complaint in the foot then.

You've just proved your need for the PPI.

I did have a life insurance policy with my endowment mortgage at the time of takeing out ppi. Would this class as cover?

amersall

2-cats wrote: »

I did have a life insurance policy with my endowment mortgage at the time of takeing out ppi. Would this class as cover?

If the cover only repaid the Endowment Mortgage and there was nothing left, then no it wouldn't I am afraid.

Omollmeg

Thanks for your response, these were all separate loans with all separte PPI's which all started and finished around the same time and a single payment was taken from the account each month which included PPI. The monthly statements from Lombard however itemised a separate amount from the loan amount which my husband assumed was the interest...so if i understand this correctly we had Single Payment PPI and not consolidation loans?? Thanks for your time :-)

-taff

single premium, not single payment

albreda

What if the sale was so long ago that you can't recall what was said at the time?