Section E on PPI questionnaire

clich

Hi

I'm completing the questionnaire template to claim PPI back on a personal loan from Barclays that ran from 1992 to 1995.

I've completed section E with the following wording and wondered what other forum members thought:

first section:

"I arranged the loan at a Barclays branch . I don't remember who I spoke to. I was told that my loan application was more likely to be successful if I also took out the insurance. I was not given full information on what the policy would and would not cover."

second section:

"I am unhappy with this insurance as I believe it was a front loaded policy. PPI was put on the loan and I paid this back to term end.
You have been fined by the FSA for failing to treat your customers fairly when selling Payment Protection Insurance and I do not believe that my policy was sold in my best interests."

Many thanks,
Emma

Stupid_Question

clich wrote: »

Hi

I'm completing the questionnaire template to claim PPI back on a personal loan from Barclays that ran from 1992 to 1995.

I've completed section E with the following wording and wondered what other forum members thought:

first section:

"I arranged the loan at a Barclays branch . I don't remember who I spoke to. I was told that my loan application was more likely to be successful if I also took out the insurance. I was not given full information on what the policy would and would not cover."

second section:

"I am unhappy with this insurance as I believe it was a front loaded policy. PPI was put on the loan and I paid this back to term end.
You have been fined by the FSA for failing to treat your customers fairly when selling Payment Protection Insurance and I do not believe that my policy was sold in my best interests."

Many thanks,
Emma

It's a bit vague, although that's to be expected considering it was over 20 years ago.

Take out the bit about being fined - who keeps telling people to put that in?!?

If there's even any evidence left to show you having, and paying for the policy I'd reject your complaint based on what you've written. there's potential for an auto payout though with it being a short loan term.

dunstonh

I would agree about removing the bit about being fined. It has no relevance to your complaint. You want the complaints handler to be on your side. Putting in useless stuff like that is more likely to harm than help. Also, are you sure Barclays have been fined for PPI mis-sales? I am not sure they have.

Your complaint is weak. So, you may want to see if you have anything stronger to include. It doesn't mean you wont succeed as weak complaints do often result in success. However, you will be more reliant on luck with the reasons you currently have.

Insider101

dunstonh wrote: »

I would agree about removing the bit about being fined. It has no relevance to your complaint. You want the complaints handler to be on your side. Putting in useless stuff like that is more likely to harm than help. Also, are you sure Barclays have been fined for PPI mis-sales? I am not sure they have.

No they haven't. This is just wording from some silly generic Internet template that people keep using when it's not relevant. Most of the bigger sellers haven't actually been fined for PPI sales failings. Capital One was about the biggest. Using wording like this is just going to make the case handler think "what a whopper"!!! Sorry to be blunt but its true!

The bit about it being front loaded would have been stated on the loan agreement, though I'd be surprised if anyone could fish out a copy from that long ago.

clich

Thanks for the replies. I'll remove the "you have been fined..." bit.

I do have a copy of the loan agreement, which shows the insurance as a separate amount added to the loan advance and with interest added for the loan term.

I also have copy bank statements from the period showing that I had savings that could cover roughly 6 months of repayments.

Presumably sending copies of these would strengthen my case?

Thanks,
Emma

clich

Would I be better off using a PPI claims company? Or would this not make any difference on the chances of a successful claim?

Thanks,
Emma

Sarros

Don't use a claims company as they only do exactly what you have done and then can take upto 33% in some cases of any redress you may receive.

-taff

And you're statistically less likely to succeed with a claims company

mermaid85

I agree with not using a claims company. Put in as much specific information as you can remember as this will strengthen your claim.

clich

This is my amended section E, any comments would be gratefully received.

1st section:
I arranged the loan at a Barclays branch. I took out the insurance as I was told that my loan application was more likely to be successful if I also took out the insurance. I was not given full information on what the policy would and would not cover.

2nd section:
It was implied to me that I would not get the loan without adding the insurance policy. I am unhappy with this insurance as I believe it was a front loaded policy. PPI was put on the loan and I paid this back to term end.

Many thanks,
Emma

-taff

Add in the first bit- it was single prmeium PPI and the full costs of this were not explained fully to me.