PPI Reclaiming discussion

LISAW_2

daynurse wrote: »

:mad:

i knew i i didnt have them details either surely it should have been provided on onset of the contract/agreement thats why they have quoted me less than 20% im still hopping mad

LTSB told me if it was more than half way, they would offer nothing as its negligable.... to them maybe!! a few hundred quid goes a long way with me!

daynurse

LISAW wrote: »

LTSB told me if it was more than half way, they would offer nothing as its negligable.... to them maybe!! a few hundred quid goes a long way with me!

what a nerve i cant believe how they have all got away with it!!!!!!!!!!!

LISAW_2

daynurse wrote: »

what a nerve i cant believe how they have all got away with it!!!!!!!!!!!

Cos they are rich with no morals. I guess hence the rich part!!

Im at my wits end... i know its all part of the merry dance but my feet hurt now

daynurse

LISAW wrote: »

Cos they are rich with no morals. I guess hence the rich part!!

Im at my wits end... i know its all part of the merry dance but my feet hurt now

i know how you feel i feel totally taken advantage of and the interest they are making is extortionate i want to do something about it like now!!!!! they wind me up i wont give up though

tiggrae

daynurse wrote: »

:mad:

i knew i i didnt have them details either surely it should have been provided on onset of the contract/agreement thats why they have quoted me less than 20% im still hopping mad

the FSA have instructed all insurance providers to change the terms of their contracts

tiggrae

LISAW wrote: »

1) The Ombudsman cannot consider a complaint (except as described in (2)) if the complainant refers it to the Financial Ombudsman Service:
(a) less than eight weeks after receipt of the complaint by the firm , licensee1 or VJ participant, unless the firm, licensee1 or VJ participant has already sent the complainant its final response; or
(b) more than six months after the date on which the firm, licensee1 or VJ participant sends the complainant its final response advising him that he may refer his complaint to the Financial Ombudsman Service; or2
(c) more than six years after the event complained of or (if later) more than three years from the date on which he became aware (or ought reasonably to have become aware) that he had cause for complaint, unless he has referred the complaint to the firm , licensee1 or VJ participant or to the Ombudsman within that period and has a written acknowledgement or some other record of the complaint having been received (but see DISP 2.3.5 R - DISP 2.3.6 R).3

(2) The Ombudsman can consider complaints outside the time limits in (1)(b) or (c) or in DISP 2.3.6 R4 when, in his view, the failure to comply with the time limits was as a result of exceptional circumstances or where he is required to do so by the Ombudsman Transitional Order (see DISP 2.3.2 G) or where the firm, licensee1 or VJ participant has not objected to the Ombudsman considering the complaint.5

so you've only just become aware of the complaint through the media interest and you've made it within 3 years of becoming aware + I suspect the 6 years written within these rules is related to the Statute of Limitations rule

daynurse

tiggrae wrote: »

the FSA have instructed all insurance providers to change the terms of their contracts

were they not obliged to tell you this in 2006?

tiggrae

daynurse wrote: »

were they not obliged to tell you this in 2006?

this is what the FSA said - it's the bits I've highlighted which are important, it's a form of self regulation !!!

We have looked at terms relating to the amount of the refund to be provided, and the clarity of these terms. Because of the differing types of firms and commercial practices within the PPI industry, we do not intend to propose a single refund method for all firms to use. We 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. Firms may find it useful to carry out a review of their refund terms to ensure they are fair under the Regulations.
Firms should consider whether they must draw the refund term to the customer's attention as a significant limitation of the policy as required in the policy summary.

flisscat

Hi all,

I require some advice from you good people out there.
Claiming back PPI on a £25000 loan from Northern rock. Paid off the loan early 2007 and settlement figure's were as follows.
Total amount currently outstanding £37369.26
Less amount of insurance rebate £6659.54
Less amount of interest rebate £6727.81

Settlement figure to repay £23981.91 (duly paid 2007)

Does anyone agree with me that Northern rock are due me £4891.00 + 8%?

Thanks to anyone who replies.

Hi again should have given loan figures at the start

loan £25000
PPI £11550
Credit amount £36550
Total charge £11669.60
Tot payable £48219.60

Kaia_2

Letter back today from Freedom Finance....

I refer to your recent letter dated 23 January 2008 in which you dispute our findings. You requested that we re-investigate your complaint or you would be left no alternative than to refer to the FOS.
As stated in our final response of 15th January 2008, at the time of conducting business with you Freedom Finance was not authorised by the FSA and operated on purely optional basis.
No advice was ever given with regards to the sale of this policy as such Freedom Finance conducted themselves in a wholly appropriate manner.
This confirms that the PPI was sold on an unadvised basis prior to insurance being regulated, therefore the complaint does not lie within the jurisdiction of the FOS.
Therefore, I must reiterate that we are unable to uphold your complaint.
Yours sincerely.....


I feel silly now ...I threatened FOS in first letter, and was told they were not covered by them but in second letter I wrote something about Misrepresentation Act and threatened FOS again when I should have said FLA or something, I feel like an idiot now.
What does FLA do? Does it act in same way as FSA, just that its a different body....will it work out what claim will be etc...?
I am so confused. Or should I just have threatened court and not mention FLA?
Maybe I am too eager to get my teeth into this and need to slow down and work out what I need to do and have a plan of action?

Basically this is story so far....
Suddenly we realise through media and mainly Martin:money: that we have been mis sold PPi on a secured loan. Taken out with Freedom Finance July 2002 (so 6 yrs is up this year) Loan is for approx 18k and the PPI is what they call front loaded i believe, it seems the policy lasted for 5 yrs so has recently finished.(dont understand any of that part of it) although a joint loan , only hubby covered i think?
Loan , once again... I think? ends in 2018, so 10 years left.

When I heard about all this PPI stuff I just sent letter 1 off straight away, I havent actually done the data protection thing (£10) and requested all our details and statements etc....I think I may have jumped in all guns blazing without thinking steps to take.
Do I Need to do this FIRST?...get the credit agreement and all statments etc....
and what about next letter, do you suggest requsting all our details and saying in the same letter we are preparing a case for court?
Any suggestions would be great...
If we need to take to court who works out what we are claiming?