PPI Reclaiming discussion

tiggrae

daynurse wrote: »

well guys said letter and disc arrived they are in order to resolve my complaint are willing to offer an additional 2,707.02 on top of the 1,133.15 78% pro-rata 22% being held back for provision of claims!! and admin costs how they work that figure out have paid policy for 2 years ppi 7983.00 they continue to say its a gesture of good will no admission of liability blah blah blah they remain satisfied that the policy was not misssold (will study disc later and post) acceptance form states both amounts applied to the loan!!! not a happy bunny the figures remain valid till 28.2.08
if i cant proove they missold what do i do taking them figures off my loan will make no differnce whatsoever to my monthly payments hardly anyway and trying to sort something elsewhere any advice greatly appreciated would like to know how they get that figure to be honest
will post latter once listened to the disc

ask them for a full breakdown of how they've arrived at the figures - when did you take out the loan - if post 15th January 2005 tell them you're more then willing to take your complaint to the FOS - you must have a good case or they wouldn't be offering anything

cocker100

daynurse wrote: »

fingers crossed you get a response tomorrow i phoned earlier and spoke to the same guy as i have before he was really very nice hopefully letter will arrive tomorrow cant decide what to do but i know i want them to pay up direct

Hi,

Got a response as planned. They want another week to prepare their findings!!!:mad: What a joke!!! Emailed my complaints executive back straight away saying that this was not acceptable. Basically told them that the evidence was there on a plate in front of them and as they haven't sent me the orginal telephone conversation, probably because they dont have it, then they would have no defence if the case went to court. Have demanded full premium refunded back on to the loan. All ppi payments made to date with interest applied to each one refunded back in the way of a personnel cheque. All future payments reduced accordingly.
I've given them 72 hours to respond as it is the weekend.

Lets see waht they make of that!!!

daynurse

well have listened to the said disc it has highlighted yes i agreed to the ppi the ppi runs along side the loan thus servicing fthe full facility in plain english paying for it for full term yes told on a couple of occassions optional cover dont have to take out- ok thats fair enough BUT
at the beginning she asked what cover we had in place confirmed life insurance that would cover mortgage and loan asked about my employers sick pay i replied i recieve 6 months full pay and either 3 months half or 3 months full couldnt remember asked if i got payment for death in service
yes - ok she went on to say that the demands and needs indicate theres a shortfall specifically accident, sickness and redundancy. recommend ppi joint cover she told me you get the FULL premium back on the 5th aniv subject to no claims etc i felt backed in to a corner she was going on saying ill send you documents out with ppi and some without then later said i dont want to send loads of documents out to confuse you which should i send? she had gone on about extending the terms to 300 months which would reduce the payments and we would only pay this etc( encouraging us to borrow more money and obviously pay more interest) so i stupidly said ok send them
they say on the tape bound by fsa rules etc now what i cant understand is why would i need accident sickness and redundancy she was told i get 9-12 months pay it would have been more beneficial to cover my husband as 1st policy holder its not discussed in great detail i felt put on the spot but I agreed at the end of the day a second advisor supposedly rang the day the loan went through to see if we were happy that was in the letter but i have n o recording of that conversation TIGGRAE/M.COLAK even MARTIN!!! some serious advice needed would you push for misselling or agree to the rebate
the rebate is because i said it was unfair and have cancelled my policy dont know what to do next must say they are very clever they make everything sound wonderfull think of the money you get back in 5 years she said the full premium has anyone claimed that back out of curiosity??? she advised to pay it back in to the loan by the way so it would reduce the loan.
the letter said it was the final response i presume regarding the rebate they uphold the misselling side:mad: :mad: :mad: :mad:

Olives

Thankyou sooo much for that tiggrae.

It is good to hear that somebody thinks we have a case. And yes you are right we didi need to make a claim. I will go to see CAB on Monady morning.

I have to act quick on this as they have just served us anouther eviction notice for 14th Feb.

Dont quite know how I am going to get out of this one.

cocker100

daynurse wrote: »

well have listened to the said disc it has highlighted yes i agreed to the ppi the ppi runs along side the loan thus servicing fthe full facility in plain english paying for it for full term yes told on a couple of occassions optional cover dont have to take out- ok thats fair enough BUT
at the beginning she asked what cover we had in place confirmed life insurance that would cover mortgage and loan asked about my employers sick pay i replied i recieve 6 months full pay and either 3 months half or 3 months full couldnt remember asked if i got payment for death in service
yes - ok she went on to say that the demands and needs indicate theres a shortfall specifically accident, sickness and redundancy. recommend ppi joint cover she told me you get the FULL premium back on the 5th aniv subject to no claims etc i felt backed in to a corner she was going on saying ill send you documents out with ppi and some without then later said i dont want to send loads of documents out to confuse you which should i send? she had gone on about extending the terms to 300 months which would reduce the payments and we would only pay this etc( encouraging us to borrow more money and obviously pay more interest) so i stupidly said ok send them
they say on the tape bound by fsa rules etc now what i cant understand is why would i need accident sickness and redundancy she was told i get 9-12 months pay it would have been more beneficial to cover my husband as 1st policy holder its not discussed in great detail i felt put on the spot but I agreed at the end of the day a second advisor supposedly rang the day the loan went through to see if we were happy that was in the letter but i have n o recording of that conversation TIGGRAE/M.COLAK even MARTIN!!! some serious advice needed would you push for misselling or agree to the rebate
the rebate is because i said it was unfair and have cancelled my policy dont know what to do next must say they are very clever they make everything sound wonderfull think of the money you get back in 5 years she said the full premium has anyone claimed that back out of curiosity??? she advised to pay it back in to the loan by the way so it would reduce the loan.
the letter said it was the final response i presume regarding the rebate they uphold the misselling side:mad: :mad: :mad: :mad:

Hmmmmm, sounds strikingly similar to my original telephone conversation. Really not sure what is the best advice to give to you, but as they have offered you some sort of rebate, they must think that you have a case! Do they say anything about the total amount payable including all the interest for the ppi? They never mentioned it to me. After listening to it back, are you absolutely sure they pushed you into taking it out and do you think they never disclosed certain information?. If you are, then I would stick to your guns and keep fighting for more. There is something mentioned in one of Martin's template letters about asking them to reconsider the amount of refund "without prejudice" meaning that they cant go back on what they have already offered you.
If I were you, i'd wait to see what tiggrae and m.colak have to say about it before making a decision.

Good luck.:)

daynurse

cocker100 wrote: »

Hmmmmm, sounds strikingly similar to my original telephone conversation. Really not sure what is the best advice to give to you, but as they have offered you some sort of rebate, they must think that you have a case! Do they say anything about the total amount payable including all the interest for the ppi? They never mentioned it to me. After listening to it back, are you absolutely sure they pushed you into taking it out and do you think they never disclosed certain information?. If you are, then I would stick to your guns and keep fighting for more. There is something mentioned in one of Martin's template letters about asking them to reconsider the amount of refund "without prejudice" meaning that they cant go back on what they have already offered you.
If I were you, i'd wait to see what tiggrae and m.colak have to say about it before making a decision.

Good luck.:)

hi they said total amount of loan total amount for ppi no mention of interest its difficult to say if i was pushed i would say they made it sound as if it was the best thing since sliced bread the wording as well ppi servicing the loan
its a hard one i havent seen anyone post the 22% breakdown either the offer was for unfair rebate though not the misselling because i agreed i think they may have a case i really dont know they are crafty............decisions decisions another thing i dont understand is the 78% offer how did they get that figure??????????

Olives

tiggrae wrote: »

To be honest Kensington are probably the most aggressive organisation I've dealt with (and I've dealt with a few !!!) I would recommend people stay clear of them !!! so I can understand how you've felt bullied. Have you thought about consulting a solicitor - you can usually get a free hour at the Citizens Advice Bureau - I'm not sure it's mis selling you should be going for because it sounds like you actually needed the policy and it should have paid out on it - that sounds like Negligence on the part of Kensington as they should have been able to advise you who the PPI policy was held with and contact details of how to apply !!

I have been thinking about this one all afternoon.

That sounds quite a big thing to do.

Does anybody know what this involves as it is obviously very much different to reclaiming. And has anybody actually done this to any other financial organisation.???
This is all very much over my head now but I really do not want to back down

tiggrae

Olives wrote: »

Thankyou sooo much for that tiggrae.

It is good to hear that somebody thinks we have a case. And yes you are right we didi need to make a claim. I will go to see CAB on Monady morning.

I have to act quick on this as they have just served us anouther eviction notice for 14th Feb.

Dont quite know how I am going to get out of this one.

You definately need a solicitor - you need to request a Stay (this is an application through the County Court) to be put on the eviction notice pending outcome of investigations into negligence etc.

Please try not to worry but you do need to take legal advice !!!

cocker100

daynurse wrote: »

hi they said total amount of loan total amount for ppi no mention of interest its difficult to say if i was pushed i would say they made it sound as if it was the best thing since sliced bread the wording as well ppi servicing the loan
its a hard one i havent seen anyone post the 22% breakdown either the offer was for unfair rebate though not the misselling because i agreed i think they may have a case i really dont know they are crafty............decisions decisions another thing i dont understand is the 78% offer how did they get that figure??????????

That 78% figure seems a bit dodgy. It seems to crop up again and again! Just been looking through some previous posts and Vodkafreak was also offered a 78% refund from First Plus. How can they come to the same figure when everyone has different loan amounts? Surely the amount of costs for them to consider would be fairly constant with each case, but say if one person had ppi of £10000, 78% would be £7800, meaning they keep £2200 for fees. Then, if another person has ppi of say £7500, 78% of this would be £5850, meaning First Plus would keep £1650 for fees. These two figures are completely different so where is the sense in that?

It's all very confusing!!!

Olives

tiggrae wrote: »

You definately need a solicitor - you need to request a Stay (this is an application through the County Court) to be put on the eviction notice pending outcome of investigations into negligence etc.

Please try not to worry but you do need to take legal advice !!!

I take it the solicitor will sort the Stay for me. Is that the form n244 that I keep hearing about. ???