PPI Reclaiming discussion

desamax

NannyB wrote: »

Hi,
I had the same reply on tuesday, i am now considering sending the second letter to Egg and then I think to the ombudsman.
I said the same to them i was not aware it was a single premium policy and the salesperson implied I had to have the insurance in order to get the loan.
They took 7 weeks to send me their reply.
Best of luck to you whichever route you take.

2nd letter it is then good luck to you too. Got my reply within 4 weeks tho

laidler2101

Hi If First Plus Did Not Tell You That The Cover Was Only For For Five Years And Made The Part Where You Get Your Money Back After Five Years If You Don't Make A Claim. And If They Did Not Run Through The Insurance As An Insurance Like Asking Medical Questions And Treating It Like An Insurance And Not A Like Loan. But Anything Is Worth A 42p Stamp And I'm Sure It Will Cost Them More.

Jdil

Hi, Tiggrae
Could you cast an opinionated eye over what I'd constructed for these guys @ Tesco Finance. I've tried to include as much as possible to let them realise I'm serious.

. In reply to your letter dated 12th Dec 2007 ref: £$%&*£. I would like to further clarify my position on this issue. I previously wrote to you on the 11th Dec 2007 about my concerns on being mis-sold my PPI which came along side my loan dated 29th Jun 2005.

The final decision to opt for PPI obviously falls to the customer. The discord here is over the manner and tactic adopted by the sales personnel involved over the phone. I believe is in breach of normal protocol and Negligent under The Misrepresentation Act 1967. In order to finalise this issue it would be advisable if I could be furnished with the actual recorded phone conversation at the time so as to prove any which way concisely. In absence of this I believe breach will stand.

On the other issue of documentation you provided on completion of the contract in 2005. I only acknowledged receipt of the loan agreement showing amount borrowed, terms and of mode of repayment with the amount of PPI applied. I can categorically state I never received any separate PPI documentation at the time in 2005. It was not until last month November 2007 while making inquiries into my alarming PPI premium as compared to what prevails in the market that I was hurriedly sent the PPI summary booklet for the first time.

I would seek this opportunity to draw your attention to the revised premium £399.75 your office thought appropriate to levy. I find it quite unnerving that even after cancellation the premium is still an issue. I presume with the cancellation the repayment would revert back to original of £373.11 which I have no dispute with. Although I am of the knowledge that the FSA allows for reasonable incurred cost to you to be recouped but that I believe only applies if mis-sale is unproven. Until that is proven I do not see why an extra £1518:48 (57mthsX £26:64) be added to my liability for the remaining duration of my repayments. Any deviation from this would seem a breach in code of practice out lined form the FSA under Unfair Terms in Consumer Contracts Regulation 1999.

With the foregone I expect an urgent review of the case and a prompt reply in due course. And as before hope this would be resolved without arbitration from the governing Ombudsman.

Yours faithfully

...what do you think serious enough.?

tiggrae

Jdil wrote: »

Hi, Tiggrae
Could you cast an opinionated eye over what I'd constructed for these guys @ Tesco Finance. I've tried to include as much as possible to let them realise I'm serious.

. In reply to your letter dated 12th Dec 2007 ref: £$%&*£. I would like to further clarify my position on this issue. I previously wrote to you on the 11th Dec 2007 about my concerns on being mis-sold my PPI which came along side my loan dated 29th Jun 2005.

The final decision to opt for PPI obviously falls to the customer. The discord here is over the manner and tactic adopted by the sales personnel involved over the phone. I believe is in breach of normal protocol and Negligent under The Misrepresentation Act 1967. In order to finalise this issue it would be advisable if I could be furnished with the actual recorded phone conversation at the time so as to prove any which way concisely. In absence of this I believe breach will stand.

On the other issue of documentation you provided on completion of the contract in 2005. I only acknowledged receipt of the loan agreement showing amount borrowed, terms and of mode of repayment with the amount of PPI applied. I can categorically state I never received any separate PPI documentation at the time in 2005. It was not until last month November 2007 while making inquiries into my alarming PPI premium as compared to what prevails in the market that I was hurriedly sent the PPI summary booklet for the first time.

I would seek this opportunity to draw your attention to the revised premium £399.75 your office thought appropriate to levy. I find it quite unnerving that even after cancellation the premium is still an issue. I presume with the cancellation the repayment would revert back to original of £373.11 which I have no dispute with. Although I am of the knowledge that the FSA allows for reasonable incurred cost to you to be recouped but that I believe only applies if mis-sale is unproven. Until that is proven I do not see why an extra £1518:48 (57mthsX £26:64) be added to my liability for the remaining duration of my repayments. Any deviation from this would seem a breach in code of practice out lined form the FSA under Unfair Terms in Consumer Contracts Regulation 1999.

With the foregone I expect an urgent review of the case and a prompt reply in due course. And as before hope this would be resolved without arbitration from the governing Ombudsman.

Yours faithfully

...what do you think serious enough.?

Just tweaked the last couple of paragrapsh


Whilst acknowledging the FSA allows for 'reasonable incurred cost to you to be recouped' I would therefore, request you justify why my premiums have NOT reverted as stated above, as I do not see why an extra £1518:48 (57mthsX £26:64) be added to my liability for the remaining duration of my repayments. Any deviation from this is appear unlawful under the Unfair Consumer Contracts Terms Regulation 1999 as outlined in the attached FSA ruling.

Given the above, I expect an urgent review of my claim and a prompt response in due course. As previously stated I would this matter be resolved without arbitration from the Financial Ombudsman.

Jdil

Just tweaked the last couple of paragrapsh


Whilst acknowledging the FSA allows for 'reasonable incurred cost to you to be recouped' I would therefore, request you justify why my premiums have NOT reverted as stated above, as I do not see why an extra £1518:48 (57mthsX £26:64) be added to my liability for the remaining duration of my repayments. Any deviation from this is appear unlawful under the Unfair Consumer Contracts Terms Regulation 1999 as outlined in the attached FSA ruling.

Given the above, I expect an urgent review of my claim and a prompt response in due course. As previously stated I would this matter be resolved without arbitration from the Financial Ombudsman.

..couldn't be better. Would dispatch pronto and keep you posted. Cherrio for now
.

m.r.davies

i've just been offered £600 from HSBC

However, they've said they wont give me the 8% interest that i asked for

is this worth chasing? are they likely to cave in?

amanda_d_29

get this

when we took two loans extra without our mortgage we asked for our ppi to be changed to cover the total sum, which is with legal and general, northern rock went and did this amended the policy, so we covered for the whole amt.

thing is just queried a charge out of the bank, for pinnacle insurance i called as no idea what for, and they said northern rock had covered the loans..

so called them and hoping now for a refund as paying to legal and general, and pinnacle (which i had no clue) been paying since march 06, however we have not had any paperwork or signed to agree to pinnacle only agreed to legal and general who we always done business with through northern rock...

any one agree, that its a win win situation, cause how the hell can they send my details to two companies for cover!!! they offer both and we said legal and general, i think its wrong they passed details to pinnacle without my authority , is that a breach of data protection?????

looking forward to £300 making its way to me!!! though they gotta listen to calls, but i know im right

saranev

Could you tell me if there is copy of this document on this site? Ive looked on the FSA site and there is so much to read ,im very confused as to which one i need.
Thankyou for your help mate
saranev

gigsy

Hi all, Just completed my second letter just wondered what people thought and if I should change it in any way. Suggestions welcomed.

Although you have offered me “an enhanced rebate” - as a good will gesture- to the sum of £4437.86 in addition to the £1515.65 to be applied to the loan account on cancellation of the policy, I do not think this amount is enough to cover a refund of the premiums, subsequent interest that I have paid on these premiums and the 8% statutory interest that a court would award, but if you were to increase your offer the following:

1. £13,469.50 the cost of the PPI paid back into the loan
2. The interest that has been accumulated while the PPI has been attached
3. The over payments that have been made to the loan due to the PPI been added to the loan,
4. Recalculate the loan to lower the monthly payments to reflect what they should be if you hadn’t added the PPI to it.
5. And all the payments that I have made to date to be taken of the loan amount borrowed.

Once you have done this I would accept and consider the matter closed. If I have not heard from you within 14 days to say if you can do this, I shall be taking my complaint to the Financial Ombudsman.

Yours faithfully,

saranev

Hiya tiggrae.
Am i bit thick and i cant find your link, i have been on the FSA site and am more confused than before as im not really sure what i'm reading! Any help appreciated
Thanks