PPI Reclaiming discussion

r6owned

hi all, be greatful for some direction on this...

I took out 2 loans with northern rock in 2005.

They would not give me the loan without taking the PPI, well that is what they said in not so many words. I did this on line and never applied for PPi.
When I got the agreement, I did not sign the "i want Ppi section", sent the forms off and in a week they were back with me, saying that they were not completed properly, IE i had not agreed to the PPi. I also phoned them up and said I did not want the PPI, they said well if you want the loan you have to buy the PPI.

I did not have a choice about what PPI company to use and I did not have any existing PPI or other insurance to secure the loan if I got made redundant or was sick, although my partner works. The loan is in my name, its not shared.

nobody suggested securing the loan against my property...and I did not think to suggest it either.

Do I have a claim for mis-selling?


thanks...Tony

vodkafreak

Of course you can,Tony. I have had unsecured loans in the past & never had ppi on them. PPI is not compulsory so don't let them tell you otherwise!
The only reason i took ppi on my secured loan was the 'cashback incentive' i was being offered after 5 yrs!:rolleyes: plus i was desperate for the loan & thought i would stand a better chance of getting accepted for the loan!( the unsecured loans were for small amounts & purely for luxuries;) & not that important if i didn't get them!)

novelli

can anyone help

I tried claiming charges of over 1000 from monument earlier this year and so far have got nothing, so am taking it to court.
I then tried claiming the PPI payments due to being mis sold. They wrote and told me i agreed to the PPi during the telephone application. I wrote back saying i didnt and that could they therefore supply the recording of the conversation. They have now respnded saying that they cannot find it due to technical problems)!!!
They also stated trhat they dont offer PPI but its optional payment break plan, and is not insurance and not subject to the GISC private code.
Anyway they are saying as a gesture of goodwill they are prepared to refund 127 of these payments to the account, which is the last 12 months of payments.
They then say that i should also note that the debt was sold to Lowell group on 28th december and any queries should be referred to them!!!!!!
Can they sell a debt that is currently the subject of legal action (i have already sent the letter before action for the reclaim of charges) ??? It seems to me that they knew i was taking them to court for charges and also that i was recliming the PPi payments, so they got rid of the debt as quick as possible.


What should i do?????

thanks

petermb_2

Hi Lisa,
The lenders are now using the FSA regulation and time frame as excuses for not providing redress. This is the problem with attempting to claim for mis-selling only. I never claim for mis-selling on its own as the lenders usually get one or more other issues completely wrong so there is usually something else to hit them with. You just have to know what.

eaglegunner

Hi guys,

I would like some advice on my case….. After visiting this website and reading all the stories about mis-selling of PPI, I decided to check out my paperwork on a Barclay loan which I took out in 1999 (Sept 2nd) from my then bank, Barclays. I was fortunate enough to find all the paperwork with regards the Credit Agreement and Barclay loan PPI policy Certificate… and to my horror this is what my Credit Agreement stated:

---

CREDIT AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT 1974

Barclays Bank Plc agrees to provide Mr. ---- ---- ---- with a Barclay loan on the terms and conditions set out below and overleaf

The loan is in two parts:

APR 13.9%

Cash Loan Premium loan (Being the single premium
Amount of loan £7100.00 £1540.06 payment to purchase
Barclay loan Protection)
Total Charge for Credit £2650.00 £ 574.34

Total amount payable £9750.00 £2114.40

Monthly repayment £ 162.50 + £35.24 = £ 197.74

Number of repayments 60 60


Repayments will begin one month after the loan is drawn, or on a later date if the Bank so agrees.
The loan will be unsecured.

For and on behalf of Barclays Bank PLC


Signature of Manager

02/09/1999



As you can see I applied for a cash loan of £7100 to be paid over 5 years and was forced to take PPI in the form of a Premium loan (WITH CREDIT CHARGES) which amounted to £2114.40 against my wishes as I asked for my loan to be given WITHOUT PPI and I was told, it was necessary for me to accept PPI in order for the loan to be granted. I remember this was done over the telephone as I did a lot of telephone banking because both my Personal account (closed by them) and my Business account (still held) were at the same Branch, Finchley central North London.

---

Also, I checked in the Barclay loan PPI – Policy Certificate schedule and noted the following:

Under Section:-
4. CIRCUMSTANCES WHEN YOU CANNOT MAKE A CLAIM
D. We will not pay unemployment benefit for any claim:

• For anytime you are laid off (because of, for example, a temporary work shortage)
• Unless you are receiving jobseekers Allowance.
• If your work is seasonal and unemployment is a normal part of it or if unemployment is a regular feature of your work
• If your unemployment is a result of the end of a fixed term contract

This is a surprise to me because I have been a director in my two man Limited Company (IT Contractor) since April 1997 and both my Personal & Business accounts were at Barclays Bank, Finchley Road and they were aware of this, so there was no way I was going to become unemployed and sign up to a jobseekers allowance AND it is common knowledge that in contracting, unemployment is a feature and the work is sometimes seasonal… so this policy was definitely useless for me, I shouldn’t have been forced to purchase this policy… this is a case of Mis-selling, isn’t it?

I must add though that I had problems with this loan around 2001(during the IT bubble burst) when first my personal account (at Barclays) was closed for being above my overdraft limit which I reduced as I had just started working again which then triggered a whole series of events whereby the direct debit set-up with my account was no longer functioning and I missed payments and in trying to resolve more problems accrued until I was being hit with charges and a demand for the outstanding balance etc.

Anyway, to cut the story I now started making payments to debt collectors when I could until I had a near breakdown, started living in my office for a few years (2+) , went to court (companies house) and finally moved to a flat (2005) to try and begin again. In July 2007 I was contacted by Thames Credit on behalf of Barclays bank with regards the outstanding balance of £1925.75 which I cleared up by November 2007.

Now, having considered all of this I decided to use Martins template letters and ask for a refund of the PPI which I believed was mis-sold as a result of the clauses I pointed out above AND the fact that I was coerced into taking PPI even after I said that I didn’t need it.

On 22nd January 2008 I sent off my first letter with colour copies of my credit agreement AND Barclay loan PPI policy certificate to Barclays (my branch) by registered post. On 30th Jan I got a letter dated 27th which was the bog-standard “we are looking into your concerns and will let you have an answer or update as quickly as possible, but no later than 20th February 2008.” Enclosing a phone number and the usual leaflet on ‘how Barclays works to resolve complaints’.

On Saturday 2nd Feb I received their response letter dated 31st January 2008 which read as follows:

---

31 January 2008

Our ref:xxxxxxxx

Dear Mr xxxxx

Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

You are unhappy with the Payment Protection that you had on a Barclay loan account opened in 1999.

I apologise for any inconvenience caused by this matter.

Having investigated your complaint, I am sorry to advise you that I believe your complaint is outside of our scope for investigation as it dates back more than six years.

It is reasonable to expect customers to raise an issue within a reasonable time, after the event has taken place. By postponing making your complaint, our position has been prejudiced and the level of any investigation could have been compromised. Where a complaint relates to an alleged breach of duty outside the last six years, it is considered time barred under the statute of limitations.

I appreciate this is unlikely to be the response you were hoping for, and should you remain unhappy with our response, you may be eligible to refer the matter to the Financial Ombudsman Service for an independent review.

I am obliged to advise you that your complaint may fall outside the Financial Ombudsman Service’s terms of reference as they cannot normally deal with a complaint if it is brought to them after more than six years. However, this is clearly for the Financial Ombudsman Service to decide and I recommend you forward a copy of this letter to their office for their consideration.

I hope I have answered all your concerns. If you would like to talk about this further please call our office on 0845 609 0806. I will keep your complaint file open for 8 weeks so you have time to consider my response. If I have not heard from you by then, I will regard your complaint as closed.

Our aim is to resolve all complaints internally, although we recognise this may not always be possible. If we are unable to agree a way forward you may be able to ask the Financial Ombudsman Service to review your complaint. We will help you if you would like to do this;
However, I hope we can resolve matters for you before you take this step.

Once again I am sorry for the problems you experienced, thank you for letting us know.

Yours Sincerely

Xxxxx xxxxxxx
Customer Relations Advisor




I am irate at them of course! They didn’t think six years was too long when they got Thames Credit to obtain the balance from me last year!!!

Anyway, I’m planning on firing the 2nd letter to them ASAP…. I just thought I’d post this to see if anyone has any further advice for me when doing so, or am I barking up the wrong tree?

Thanks

P.s: sorry for the long post.

mi33cupc@ke

Hi there I realise this has probably been asked before, but how far back can I claim? Is it 6 years like the bank charges, or can I go back to the start of the loan? Also, as I have already claimed around £2500 of bank charges with them, would they threaten to close my accounts? I'm with HSBC. Many thanks.

cam1969

please bear with me,this is my first post.
i had a secured loan with first plus in 2004 and was advised to take insurance,i then had another loan in 2006 with first plus which paid off the first loan,can i put two separate claims in even though i have no details of the first loan anymore? if so how do i go about it?? sorry if i'm a little vague!

hope you can help

cam1969

mariab8817

Hi.........Having a real battle with Next. Have had an account for 20yrs with ppi which was not authorised by me they have said they cannot produce evidence that I accepted it as it is too long ago! They also mention Limitation Act 1980. Does this mean that you can only claim for the past six years???

I would be sooo grateful for an answer so that I can continue my battle with them.

Thank you

Maria

louietudor

just had my second refusal from Capital 1 to my second letter again with the excuse that i was given leaflets that explained the exclusions and therefore they have not misold blah blah blah this is our final decision (i am self employed was and still is) - ive called them up for all my statement back to 2003 when the card was opened and have prepared a 3rd letter - could all you great people have a look and let me know if it could be better ( ive presumed as the account was opened in 2003 i have to go through the courts not the ombudsman)

quote:

[FONT=&quot]I am writing in response to your letter dated 1 Febuary 2008, with regards the insurance sold with my credit card.Yourreference is RR/PCB/11-6815826. Yourprevious reference was RR/WD/11-6792437 [/FONT]

[FONT=&quot]I do not feel your letter has offered a satisfactory justification that my policy was sold fairly, reasonably and within my best interests so I request that you look into my complaint again and would refer you again to my letter date 22nd January 2008 a copy of which is enclosed. [/FONT]

[FONT=&quot]I have not received the date you sent the explanation of cover by letter nor even a copy of the said letter[/FONT]

[FONT=&quot]You also chosen to ignore the comments by [/FONT][FONT=&quot]The Financial Services Authority dated 4th November 2005, on the sale of PPI[/FONT]

[FONT=&quot]I also would refer you at this point to the [/FONT][FONT=&quot]Misrepresentation Act 1967 in particular Negligent Misrepresentation[/FONT]
[FONT=&quot]
Again I request [/FONT][FONT=&quot]a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made[/FONT][FONT=&quot]. [/FONT][FONT=&quot]O[/FONT][FONT=&quot]therwise I will have no options but to take my claim to the Financial Ombudsman and given the above ruling by the FSA I have no doubt as to its outcome.[/FONT]

[FONT=&quot]Im sorry if this is not the response you were expecting. I have today requested all my statements since 2003 in order for me to ascertain the exact amount I have paid. If I do not receive a more favorable response from you within the 21 days it will take for me to receive these statements I shall be begin pursuing a claim through the courts without any further reference to yourselves[/FONT]



end

cheers all in advance

cocker100

Hi all,

Well, First Plus have replied by email and have now said that they have finally found the tapes that I requested and that they will send me them with a complete response to my complaint as soon as they can be retrieved from their I.T. department!!!:mad: (but before the end of the week) How long is this thing going to drag on??????