PPI Reclaiming discussion

mac_saver

nitroxdiver wrote: »

Hi everyone

Wife has an account with this catalogue which she pays evey month. She also pays interest on outstanding balance each month which we accept. The only thing we want to query is she ALSO pays what is called peace of mind plan. Am I correct in thinking that this PPI called by a different name. Pretty sure it is.
Link http://fashionworlduk.drct2u.com/policies?decoration=true&finalTarget=policies_pomp

At no time can she remember being asked about it and she has certainly not signed anything for it. It's not a lot of money taken of the period we have noticed and feel it me have been added as a 3 month free trial/cancel if you do not want policy.

Whats the best way to approach this.

Thanks
Peter

Hi Peter,
Having problems with a couple of catalogues myself, they are indeed PPI's in sheeps clothing and beware trying to claim on them!! Tried to claim on a couple when my wife got real sick and I had to lose pay to take care of her and they basically told us to read the small print, not covered as condition was long term, probably will never get a refund, ditch it if you already havn't is my advice but I am not an expert just someone with a bad experience trying to claim of such a policy!!!! Over the years that you have and use the catalogue the money they take grows depending on your usage normally a % of the purchase price.
good luck.

ROCKIEDOG_2

OK. Battling with HBOS at the mo. Took out a loan with the AA, so I thought, turned out to be HBOS. Have sent 2 letters but they still refuse. I informed their salesperson that I did not need PPI as I had plenty of cover with work. HBOS are claiming there is no record and anyway I would have been sent the policy doc so should have read it. However the cheque was delivered by courier who stands and waits for you to sign the agreement before handing over the cheque making it difficult to even check the address etc on the agreement let alone wade through an insurance policy doc. Has anyone else had trouble with HBOS or had their loan agreements dealt with in this way?

I am sending a third letter re-stating my points and stating that their agent did not explain the optional nature or my cancellation rights and also added the pressurised way in which I had to sign the agreement. Not sure what to do next as both loans are pre 2005. HBOS keep saying I have the right to complain to FOS but I think that's just cos they know the FOS will just shrug their shoulders. It makes me angry to think that the £4k odd kept me in debt for longer than I should have been.

lyns10

tiggrae wrote: »

Hi what exactly did you complain to the FOS about, was it the fact they wouldn't pay on the PPI or was it for mis selling - if it wasn't mis selling then you could go back to make a claim

Hi, cheers for the reply.

I made my complaint to the FOS about both points.

MWH1

Hi guys. I’m looking for some advice from our resident experts, so please feel free to comment. I have put in a claim for being mis-sold PPI and was told that it was essential to get credit. I got the final response from the loan company within one week of sending second letter. As requested, they have given me copies of the loan application and credit agreement.
The 3 year loan and PPI were taken out in 2001 when they say they were adhering to a voluntary code under ABI (Association of British Insurers). They add “The advisor was not required to establish suitability”. Finally, they say because I had two loans before this without PPI I should have been aware it was not a requirement.
When I originally applied for the loan I was turned down. A branch advisor told me to appeal in writing explaining why I wanted to borrow. A few days later, I took a call from the same lady in branch saying my appeal was successful and all I needed to do was go in and sign the forms.
I recall that when I arrived in branch the forms were on the desk waiting to be signed. Tonight, I have noticed something on the two forms they have copied for me. The branch advisor has marked several bits on the forms with a big curly X where I had to sign, including in the box marked ‘Yes, I want PPI. She was even kind enough to put a big line through the ‘No thanks, I don’t want PPI’ box. She has dated the forms and we both signed. This was clearly pre-meditated as I was shown where to sign and not given the option. They knew my credit history was a little shakey and took advantage that I was desperate for the loan.
Until I noticed this earlier, I had considered forgetting about my reclaim. Now I feel like I’m really on to something. Please feel free to pass on your comments. Thanks.

novelli

I had the same thing on one of mine, nice crosses for where i had to sign!!! They are still refusing to pay it vback though, im still fighting for it!!!

kellyanne

gio67 wrote: »

Hi,
I am at the present reply to barclays and more i read their reply and more upset me.I just need a bit of suggestion how to word the letter because they assume that my ppi was requested for me and i could cancel it at any time..not true i try to cancel so many time in these three years and they always reply to me that pass the 5 months i couldn't cancel any more. They also stated in the letter: " our records indicate that you applied for a barclaysloan in march 2005 for 7000 pounds with the Protection Plan Insurance. Our advisor are trained to offer insurance protection to enable you, the customer, to protect your monthly repayment against unforseen circumstances tha may arise during the term of the loan" .

They are incredible because i couldn't have the loan without the PPI and even when i try to cancel they told me i couldn't anymore.
They gave me 8 weeks to answer and after that they will consider the complaint closed, but after my first letter in august the didn't reply till october and i start to receive some random call from customer service asking me if i want to cancel my PPI never happen before...just because in their computer screen they could see there was a compliant in action...

How can i word my response to this letter?
Please help !!!
Many THX

I am in dispute with Barclays too. A Barclayloan took out in 2003 with extortionate PPI. They told me it would assist with my credit application if i took ppi. When i was struggling financially i tried to cancel it but they said it would hardly reduce my payments anyway and the loan would be over a longer term again if i restructured it. Got the usual first fob off and wrote again because i refuse to give up. They will give me a response by February 7th. I have carried on doing my research in the meantime incase they dont play ball, so i am ready either way. I hate the waiting game though! Keep us all posted on how you get on!!

Blodders

kellyanne wrote: »

I am in dispute with Barclays too. A Barclayloan took out in 2003 with extortionate PPI. They told me it would assist with my credit application if i took ppi. When i was struggling financially i tried to cancel it but they said it would hardly reduce my payments anyway and the loan would be over a longer term again if i restructured it. Got the usual first fob off and wrote again because i refuse to give up. They will give me a response by February 7th. I have carried on doing my research in the meantime incase they dont play ball, so i am ready either way. I hate the waiting game though! Keep us all posted on how you get on!!

Don't get any expectations up in regard to having a financial settlement from Barclays at the letter stage unless you have really strong evidence of misselling. You will shortly get a stock reply to your complaint and it will suggest contacting the FOS, so be prepared for this.

tiggrae

ROCKIEDOG wrote: »

OK. Battling with HBOS at the mo. Took out a loan with the AA, so I thought, turned out to be HBOS. Have sent 2 letters but they still refuse. I informed their salesperson that I did not need PPI as I had plenty of cover with work. HBOS are claiming there is no record and anyway I would have been sent the policy doc so should have read it. However the cheque was delivered by courier who stands and waits for you to sign the agreement before handing over the cheque making it difficult to even check the address etc on the agreement let alone wade through an insurance policy doc. Has anyone else had trouble with HBOS or had their loan agreements dealt with in this way?

I am sending a third letter re-stating my points and stating that their agent did not explain the optional nature or my cancellation rights and also added the pressurised way in which I had to sign the agreement. Not sure what to do next as both loans are pre 2005. HBOS keep saying I have the right to complain to FOS but I think that's just cos they know the FOS will just shrug their shoulders. It makes me angry to think that the £4k odd kept me in debt for longer than I should have been.

Hi there you can complain to the FOS as HBOS is a bank and came under the FOS jurisdiction pre 2005 (it's only the independent lenders who were made compulsory on 15th January 2005). Also, look at the following this is what the FSA has had to say on over reliance upon product documentation (4th point) and challenge them on that.

· 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

MWH1 wrote: »

Hi guys. I’m looking for some advice from our resident experts, so please feel free to comment. I have put in a claim for being mis-sold PPI and was told that it was essential to get credit. I got the final response from the loan company within one week of sending second letter. As requested, they have given me copies of the loan application and credit agreement.
The 3 year loan and PPI were taken out in 2001 when they say they were adhering to a voluntary code under ABI (Association of British Insurers). They add “The advisor was not required to establish suitability”. Finally, they say because I had two loans before this without PPI I should have been aware it was not a requirement.
When I originally applied for the loan I was turned down. A branch advisor told me to appeal in writing explaining why I wanted to borrow. A few days later, I took a call from the same lady in branch saying my appeal was successful and all I needed to do was go in and sign the forms.
I recall that when I arrived in branch the forms were on the desk waiting to be signed. Tonight, I have noticed something on the two forms they have copied for me. The branch advisor has marked several bits on the forms with a big curly X where I had to sign, including in the box marked ‘Yes, I want PPI. She was even kind enough to put a big line through the ‘No thanks, I don’t want PPI’ box. She has dated the forms and we both signed. This was clearly pre-meditated as I was shown where to sign and not given the option. They knew my credit history was a little shakey and took advantage that I was desperate for the loan.
Until I noticed this earlier, I had considered forgetting about my reclaim. Now I feel like I’m really on to something. Please feel free to pass on your comments. Thanks.

Hi the FSA in October 2005 reported the following failings in good practice on the sale of PPI (look at the 4th one regarding over reliance upon product documentation)

- challenge them on this, say you'll take your case to court and under CPR18 (Court Procedure Rule) - Request for further information you will request they prove they were fully compliant with all the following - you'll also be specifically requesting the detail record of the training undertaken by the sales representative - good luck

· 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.

RT7

Can someone advise please?

Just had a reply to the 2nd letter we sent to Lloyds TSB.
We took the loan out November 1998.

Our reason for complaint was

This is due to the fact that I was not given the correct information when the policy was sold, as your salesperson was very pushy in selling me the policy so that I felt I could not say no.

They are saying the policy covered 'Unemployment and Accident & Sickness cover' and we would have been sent a welcome pack including a Statement of Cover booklet, a policy schedule and a Direct Debit mandate and if the policy did not suit our needs we could cancel.
In light of the evidence outlined above they say they are unable to accept our complaint that we were not properly advised about the policy.
If we wish to cancel the policy we can by visiting our local branch.

They point out the FOS guidelines section 2.3 Time Limits, DISP 2.3.1 (1) (c)
then go on to say if we are unhappy with the decision we can ask the FOS to independently review our complaint!

Do we have to accept LLoyds decision as we are still paying the PPI and our complaint was about the way the policy was sold not the cover (we also didnt know we could have gone elsewhere).

Any help greatly appreciated.