PPI Reclaiming discussion

lorrimag32

Hi

I received a letter this morning from Endeavour Personal Finance (a company i was referred to via norton finance for a secured loan), telling me that my request for refund of my PPI has been declined, as "following a thorough investigation (they only received my letter on Wednesday of this week) this was my final response letter being issued".

They state that I was not mis sold PPI as at the time of me taking out the loan PPI was optional (this is something that I dispute, as at the time, I was off longterm sick (i have wegeners granulomatosis - an auto-immune disorder) and would not have taken out insurance when I knew that it would not cover me, I also remember at the time of taking out the loan querying the PPI because of the wegeners, because I had to phone the insurance company itself, and they are in Dublin, so its not something that I was going to forget.

They are also disputing it because they state that I received a booklet regarding life, accident/sickness and unemployment insurance?????

They are not willing to look at my case unless I have documentary evidence to support my allegations?????

Is there anyone who can help me and advise me what to do next, do I contact the FSO and ask them to look at my case?

Many thanks

Lorraine

jim2

m.colak wrote: »

verbal is never any good you need all communications in written form
Dont you think they shall be reluctant to send me written confirmation of front loading and is it illegal to conduct business this way?

tiggrae

absnasm wrote: »

Thanks, Tiggrae. I think I'll probably do that - copy my originals and send them a copy, asking them why they need one. It smacks of stalling tactics a little, I think. It's with Royal Bank of Scotland.

Hmmm most unusual, RBS are one of the better banks - I wonder if they've lost your documentation, if that's the case they have nothing to rely upon - if I were you I'd write and ask why they want it as they are obliged to keep everything for 6 years + the current year for tax purposes, if they've lost it they can't defend your claim

tiggrae

lorrimag32 wrote: »

Hi

I received a letter this morning from Endeavour Personal Finance (a company i was referred to via norton finance for a secured loan), telling me that my request for refund of my PPI has been declined, as "following a thorough investigation (they only received my letter on Wednesday of this week) this was my final response letter being issued".

They state that I was not mis sold PPI as at the time of me taking out the loan PPI was optional (this is something that I dispute, as at the time, I was off longterm sick (i have wegeners granulomatosis - an auto-immune disorder) and would not have taken out insurance when I knew that it would not cover me, I also remember at the time of taking out the loan querying the PPI because of the wegeners, because I had to phone the insurance company itself, and they are in Dublin, so its not something that I was going to forget.

They are also disputing it because they state that I received a booklet regarding life, accident/sickness and unemployment insurance?????

They are not willing to look at my case unless I have documentary evidence to support my allegations?????

Is there anyone who can help me and advise me what to do next, do I contact the FSO and ask them to look at my case?

Many thanks

Lorraine

Couple of things the following are the failures in good practice report by the FSA on the sale of PPI - see the bit on over reliance upon documentation, therefore, they can't just say you got the documentation !!! AS for going to the FOS, when did you take out the loan - if it's prior to 15th january 2005 I doubt they came under the jurisdiction of the FOS

· There was a risk of inappropriate sales: around half of the firms failed to take reasonable steps to ensure that customers did not buy policies on which they could not claim or which provided only very limited cover;
· There were inadequate controls in place for non-advised sales: about half of the firms selling on a non-advised basis did not have adequate systems to stop their staff giving advice or were providing information that amounted to giving advice;
· Advice on PPI was often likely to be poor: most firms did not have systems in place to assess suitability adequately;
· There was an over-reliance on product documentation given to the customer at the expense of explaining the policy to the customer orally: most firms selling by telephone did not give sufficient information on exclusions;
· The quality and timeliness of product and price disclosure by some firms selling single premium policies was poor;
· The level and structure of inducements and targets for sales staff could encourage mis-selling in some firms; and
· Training and competence of sales staff was not adequate in around half of firms;
· Compliance monitoring was variable and in some cases very poor.

tiggrae

jim2 wrote: »

m.colak wrote: »

verbal is never any good you need all communications in written form
Dont you think they shall be reluctant to send me written confirmation of front loading and is it illegal to conduct business this way?

they are obliged under the data protection act 1989 to provide the information you request - as for being illegal - no, you can put whatever you like in a contract, but under the Unfair Consumer Contract Terms Regulations 1999 if could be classed as unlawful.

tiggrae

rl1234 wrote: »

Hi - can anyone help me please with advice on making a PPI mis-selling claim on a Northern Rock personal loan. After recently re-mortgaging, I have sufficient funds to pay off the loan (which included over £100 a month for PPI, which I tried to cancel twice but was told I would have to take out a new loan). I've received the settlement figure and am due to pay it off within next couple of weeks. Would it be best to pay the loan off, then make a claim? I don't want to delay paying off the loan as I have been on a reduced payment agreement with them for the last couple of months and want to clear it.

Any advice gratefully appreciated!

Thanks

depends how quickly you want to deal with the loan - if quick probably better to pay it off then claim it back - claims can take many months to sort

BigCraigJohn

Right, 14 days(well 17) have now passed since they should of recieved the 2nd latter. I sent it recorded but its not showing delivered, royal mail just keep fobbing me off. Someone told me the post man may of not bothered with a signature and ripped off the recorded label because of the volume of mail to be delivered. Ive got no actual proof but i'd say theres a strong chance they recieved it next day as the location is about 20 miles away. Should I just send another copy or just send a final letter saying youve failed to respond and allow them another 7 days to respond? and then go to the ombudsman?

mac_saver

mac_saver wrote: »

Hi I was wondering if anyone has had any dealings with catalogue companies and the "peace of mind policies" that they push on their customers. My wife took out such a policy on the advice of a salesperson in 1994 even though she told them she was not employed and had an illness that she thought would prohibit such a policy, but after persuasion ticked the box and was sent a leaflet to read. Last year when circumstances with her health caused major financial difficulties and we fell behind with payments we approached them with a view to assist with back payments, we were then told that the policy did not cover her for this even though her illness was the root cause. I wrote to them cancelled the "policy" and asked for a refund in paymnets as the policy sold was worthless and should never of been offered in the first place and today had a first and final reply stating;
1) Policy docs were sent out 13 years ago and we knew what was and not covered and we signed for this freely
2)When changes to the policy were instigated on 4 occasions all holders were notified on thier statements.
3)We have received 158 statements all showing clearly the payments as a seperate entity (never queried this), and as we had never questioned this they "consider that this constitutes acceptance of the policy.
4)There is no requirement for advisors to have any financial training in the selling of such policies.
5)If we are not satisfied with this response contact the FOS but it is unlikely that they will help as they only took juristriction over such matters after the policy was sold.

Any advice??

Sorry to be a pain but I could do with some advice regarding this I dont know what to do, and what my rights are on this one .
The banks were a lot easier!!!!!!!!!

sheirron

Hi I'm new to the forum:rotfl: and i wonder if anyone can give me some advice,,

i have just written my 1st letter reclaiming ppi from first national home finance.
in april 2005 i borrowed 15,000 over 10 years the ppi was a single premium over 5 years added to the loan made up as follows
total repayable
15,000 loan
4,050 ppi
= 19,050 :mad:

ppi premium made up as follows
premium 3,847.50
insurance premium tax 202.50
total premium 4050.00

at present interest rates the total amount payable for this insurance over the term of the loan will be 6,172.23. (this is taking from the actual agreement)

i paid the total loan including this premium on the 12th April 2007 paying off over 17,000.


what i would like to know is what would be a reasonable amount for me to accept as refund (if i actually get one:T ) I have also written to the mortgage group ppi £3888 also paid off at the same time as above loan , i don't hold much hope for this one as i took out the original mortgage in Oct 2004 still its worth a stamp eh!!:D
sorry for the lengthy msg hope someone can help thanks.

joanne34_2

Hi Ive been offered a refund from Firstplus that was taken out in Oct 05 and paid back in Feb 06

Original PPI loan 4384.00
Rebate amount in Feb 06 1491.36
Additonal amount offered in settlement 1757.62

So the total amount offered to me would be 3248.98, they then go on to say this is 78% of the insurance premium as 22% is being held back for the provision of claims and admin costs.

Can you advise if I should accept this and if not how I should go about asking for more??

Many Thanks

Joanne