PPI Reclaiming discussion

tracy01_2

hi new to this. Sent a letter to Direct Auto Finance requesting ppi refund. (used Martins template letter) they wrote back to advise me that they were not FSA authorised when we took out our car loan, and therefor in their understanding that this claim falls outside the jurisdiction of the FSA. They also worded their letter is such a way as to suggest that we are lying about the fact we were told by the salesperson that we had to have ppi to secure our loan agreement. Does anyone know what steps we now take, who are Direct Auto finanaces governing bodies? Do we have anyone to go to to help us with this claim. It's a bit of a minefield out there if you don't know where to go.

Jackswan_2

Fully appreciate and understand your response.

Credit cards - payment protection insurance/payment protection cover/cardholder protection plan/credit care insurance - all designed to take
money from us as a stealth tax.

I have only experienced one case of PPI on a loan with the BOS which was
before Martin had this campaign running and was successful but only with the FOS upholding the case in my favour. Even now some four months later I am still 'battling' with the BOS as they should have restructured the loan
without the PPI as laid down by the FSA. It is a daunting task, however, it is
important to deal with the Bank first, FSA second and then the FOS if all else
fails. I missed the FSA when I commenced my claim back in January this year, but, I feel that they are an important cog to involve.

Credit cards seem rather more difficult, well I am finding this to be the case,
I run my own consultancy/marketing business, as such I class myself as self-employed and wouldn't be paid if I was off work. The argument being put forward by CC banks is that I would be covered, and I am having great difficulty in trying to inform them that such cover does not benefit me,
especially when I informed them on my written application form that I was self-employed and would not require protection yet they still added the cover charge.

It's a battle, but, one I intend winning.

enough.is.enough_5

petermb wrote: »

I will handle each issue ion this page so far.

Diana, Welcome have anumber of issues with their documentation and the way they set thier loans up. You should get your ppi back and some.

Michelle you are entitled to the premiums paid plus interest. Accept nothing less.

Steve, Credit Cards are no different to any other loan. The basics are just the same. First of all SARN them. Get all the information you can out of them including agreement and transaction history. So there is absolutely no reason why you will not get back all your payments.

Enough is enough. Quite right too, you are entitled to every penny of your £6015.60. If they are not forthcoming, come back to me as I have a few tricks that will not let them off the hook.

Shop-a-doodle-doo, Dont give up , GE are a doddle if you know which buttons to press and exactly how hard to kick.

Dont give up, any of you, dont be fobbed off. Virtually every single ppi policy written can be successfuly challenged. dont let them bully you. They have been doing that for years but knowledge is power. Dont leave it just at ppi. Make sure you get the loan itslef checked out. You could walk away with far more than just your ppi premiums.

Hi Peter,

Thanks for that. But as i cannot go to the FOS what do i actually do next??

sukrat

not sure if this is the right place - but here's some infor on Nationwide that may help!

Nationwide withdrew PPI on PL's - very quietly. Well here's why....

There branch offices had an internal mystery shop last year - october time. The results were shocking - but ignored due to the FSA actually doing a high level review in Nationwide at the time.

Basically if you bought a PL with PPI in a Nationwide branch - the chances are that they did not follow FSA guidelines - they have no audit trail or records to prove you wrong and surely by withdrawing the product they are accepting guilt.

petermb_2

enough is enough. I have sent you a pm advising how to proceed.

petermb_2

thanks for the information Sukrat.

Willson

Advice pls...1st of all i like d to say HI!...im not very good at this sort of thing and have been 'browsing' allllll morning...just trying to 'post' a question!.

Had a reply from GE money this morning re; my request for ppi refund due to pre-exsiting medical conditions/ not asked by store person about pre-exsiting/ and that the company have already been fined for mis-selling. The store card was opened in Jan 2001, and they have said that this after the FSa regulations came into force, that, my insurnace payments were clearly shown on my statements, and that my insurance was upgraded in aug 2003. so therefore no evidence of mis-selling. However if i send them proof of pre-exsiting condition they will investigagte further, and review decision.

I know this is there way of fobbing me off...but i just want others thoughts on this...should i send proof...do i have to...should i just carry on to the 2nd stage....soooo many questions!! Help...

bhoywonder

Peter, Thanks very much for all your information and I am not the only one here who appreciates it. I have just written to Picture regarding a lump sum PPI, I just dont believe how they can say this offers a value. They have advised they will cancel my policy but only give me less than 10% of the total. or I can wait 5 years and receive 50% back at 3,4 and 5 year stages. Do you have any info re picture. Thanks

Willson

in your large reply earlier on you told steve to SARN them...whats that???

petermb_2

thanks for the kind words.
Picture are no different to any other lender. The majority of lenders have misunderstood major legal issues that will allow you to regain all your premiums plus interest. how did you get to picture? direct or through a broker? I will pm you with assisance