PPI Reclaiming discussion

LISAW_2

tiggrae wrote: »

Hi there, no it's not the end - it just means you can't go to the FOS, if your husband believes he's been misrepresentated he can make a claim through the County Courts under the Misprepresentation Act 1967

tiggrae - you also seem very knowledgable. did you have any thoughts on my letter out of interest?

irish_eyes_r_smiling

irish_eyes_r_smiling wrote: »

hi,

i've sent my claim of to the FOS, but after reading alot of posts on this thread i'm worried i've missed out some info in the claim form.

for example; it's a single premium ppi added on top of my loan but i can't find anywere in the terms whether it covers me for the life of the loan??

policy also only pays upto a max of 12 months if i was to claim ( is that standard ) ?? - i thought it would cover me as long as i was unable to work?

should i call/ write to them with this info, i've supplied the doc's i think are relevant (i.e) breakdown of overall cost & the "Wonderful Understanding Your Needs" form which is my ace card hopefully!!!!!!

any suggestions, thanks

anybody have any suggestions onthe above, thanks

petermb_2

Hi
The standard off the shelf policy tends to pay out after 30 days and continue for 12 months. The cover invariably last for no more than five years regardless of the length of the term.

I would write to have this confirmed but I feel sure you will find this is the case.

tiggrae

LISAW wrote: »

tiggrae - you also seem very knowledgable. did you have any thoughts on my letter out of interest?

Hi Lisa, the only changes I'd make it to go more into the legal aspects - such as you believe you were a victim of Negligent Misrepresentation and under the 1967 Misprepresentation Act the onus is on them to prove otherwise and their letter to date fails to do so as.... Also, the partial refund on the first loan - the FSA has ruled partial or no refunds to be unfair Under the Unfair Consumer Contract Terms Regulations 1999 - look back on my previous posts as there is a link to the FSA website, copy that to them as well - just remember everyone it's the law you need to back up your claim !!!

Elsie2_2

tiggrae wrote: »

Try this - just a little tweak here & there !!

In respect to your letter dated 29th November, with regards the insurance sold with my loans. Your reference is *****.
I feel that neither your first nor second letter offered a satisfactory justification that my policy was sold fairly, reasonably and within my best interests. Also as I believe your salesperson Negligently Misrepresented the details of the loan by stating the PPI was compulsory; under the 1967 Misrepresentation Act the onus is upon you to prove otherwise and your responses to date fail to do so.

You have stated the justification for not considering my request is the Statute of Limitations Act 1980; however, the Limitation Act applies only when no contact has been made between the creditor and debtor within a certain time limit. For unsecured loans it is 6 years. If the debtor acknowledges the debt in writing or pays an instalment, then the time limit begins again from the date of payment. This said, as you were receiving monthly payments within the last six years and this falls within the necessary time period, I would ask you to re-consider my request.


Furthermore, I enclose a copy of the original paperwork showing the box for taking the PPLP had already been ticked, thus not giving me the option to opt in, rather having to opt out, something I maintain I was not aware of at the time.


Finally, the FSA are carrying out investigations with regards PPI and have stated they believe refunds should be calculated to take firms reasonably incurred costs into account. These costs will depend on the individual firm, but might include administrative fees, a proportion of commission and the uneven spread of the risk across the length of the policy. I feel that the partial refund I received after having the loans for only one year was unfair, under the Unfair Consumer Contract Terms Regulations 1999. I received only 61.3% of my initial outlay for the PPLP on loan number ********and only 49.6% of the PPLP for loan number ********.If I do not receive a more favourable response within 14 days I shall be commence proceedings within the County Court and given the FSA ruling on UCCTR I have no doubt as to the success of my claim.

Yours faithfully

I've had a reply back from them;

We have previously issued the banks final response relating to your complaint regarding PPI on the 29th Nov, and yet have recd another letter from you dated 30th Nov.

Whist we do not intend to correspond with you further on this matter, your comments are noted. I acknowledge you remain dissatisfied, however, i can confirm there is nothing further of value we can usefully add.

Should you decide to pursue this matter, all correspondence should not be directed to the Financial Ombudsman Service.

I'm guessing by the tone of the letter that they are sure they are in the right, and for that reason, i am considering just letting it drop. Would anyone agree with me or should I keep going and go to the Ombudsman???

tiggrae

Elsie2 wrote: »

I've had a reply back from them;

We have previously issued the banks final response relating to your complaint regarding PPI on the 29th Nov, and yet have recd another letter from you dated 30th Nov.

Whist we do not intend to correspond with you further on this matter, your comments are noted. I acknowledge you remain dissatisfied, however, i can confirm there is nothing further of value we can usefully add.

Should you decide to pursue this matter, all correspondence should not be directed to the Financial Ombudsman Service.

I'm guessing by the tone of the letter that they are sure they are in the right, and for that reason, i am considering just letting it drop. Would anyone agree with me or should I keep going and go to the Ombudsman???

Hi Elsie, was your loan pre-2004, if so you won't be able to take your complaint to the Ombudsman to investigate your complaint as it's outside of the timeframe, but you can go to the County Court and I believe you've a good chance of winning - in fact if you just issued the summons I reckon they'de pay up straight away !!! You could however, complain to the Ombudsman about their refusal to even look again at your complaint - I personallly think that's a REALLY rude letter and if I were you I wouldn't let it drop !!!!

babymarf

Jools5 wrote: »

Hi there, We bought a Sofa 2 years ago from DFS on and interest free deal, 1st year there was nothing to pay and the next 4 years were interest free, I've just double checked and it seems the snuck in a PPI in the deal which I definately didnt agree to as I never have (found out about them a long time ago) I am going to claim that this was missold (as it was, I was never told about it buy the guy in the store who virtually filled out the form for me) but just wondered if anyone had any experience with this sort of PPI rather than one attached to a loan (even though in theory I guess this is just an interest free loan)
thanks

Julie

Hi Julie
Check out my post re DFS
Simon

Elsie2_2

tiggrae wrote: »

Hi Elsie, was your loan pre-2004, if so you won't be able to take your complaint to the Ombudsman to investigate your complaint as it's outside of the timeframe, but you can go to the County Court and I believe you've a good chance of winning - in fact if you just issued the summons I reckon they'de pay up straight away !!! You could however, complain to the Ombudsman about their refusal to even look again at your complaint - I personallly think that's a REALLY rude letter and if I were you I wouldn't let it drop !!!!

It was June 2001 that I took out both of the loans I've asked them to look into. I think i'll speak to the ombudsman on monday and get some advice and see what they say. Thanks Tiggrae.

Knightowl

Ok sorry to say I can't find my original post!

I won't mention which bank yet but this is the scenario...

I was unemployed for 14months due to a back injury created by an industrial accident.
To obtain employment I moved to a different area.

I was still classed as invalidity and suffered from depression (still do if truth be known), I also still have issues from said period.

At the time of asking for 1st loan to help with relocation I was advised the following with regards PPI....."It won't harm your loan application it will enhance it.....and considering your recent experiences its a sound investment" or..words to that effect.

The bank knew of my problems and as such had previously withdrawn my existing overdraft facilities because of them. At no time had I ever hidden this FACT.

The idea of loan with guaranteed protection considering my experiences was not to be sniffed at! Silly confused me went down the same route with a credit card from the same bank.

I have written using the initial template and have received 2 letters in the space of less than a week.

Receiving the letter dated the 3rd two days before the letter dated the 1st !

An investigation is now in place...so they tell me........as they are "concerned"

Debbie2K7

Do i have to send £10 to every company i don't have paperwork for or is that just in case they do charge for the service?
Thanks in advance