PPI Reclaiming discussion

Josparoonie

Hi there

Firstly, apologies if I am in the wrong thread or anything, as I am still a newbie to this site!

I have been trying to reclaim PPI from HFC (Beneficial Finance), CitiFinancial and London Scottish Bank.

So far - London Scottish never received my first letter back in November and are asking me for copies of all relevant paperwork... sent a copy of everything I have today to them so will keep you informed.

Citifinancial - Sent 2nd template letter to them back in December - No response received - Have chased again.

HFC (Beneficial Finance) - Received final response saying that basically I signed the papers accepting the PPI so no chance! I am now inthe process of completing the form to complain to the ombudsman and just wondered if you could let me know what you think of this wee bit.

"When I first applied for a personal loan with Beneficial Finance, I was having problems with my personal finance and had asked for a consolidation loan to assist me.The application for a loan was accepted and all the papers signed. I now feel I have been misold the PPI policy with the loan for the following reasons listed below:-

1. At the time of the application for the loan (September 2006) I was and am still employed by the NHS. They have a no redundancy policy, so if for any reason you are no longer able to do your job, or your place of work has changed office and location for whatever reason, you always have the re deployment option, so you are never made redundant. Therefore the Unemployment benefit of the PPI was not applicable to me.
2. I felt pressured to agree to the PPI cover in order for me to obtain the loan that I had applied for. Beneficial Finance have a policy that once you have completed the application with a sales person, a manager then comes into the office to check all that you have completed in the application form, this again then puts you under pressure to sign and agree to everything even if you do not understand what you have signed or agreed to.
   
   
3. In addition, I have found out that HFC have recently been fined by the FSA for failing to treat customers fairly when selling Payment Protection Insurance and I do not believe that my policy was sold in my best interests

Does this sound ok to use as the reason why I am complaining? Any help would be appreciated.

Thanks

Joanne

ANY_CHANCE

Snuffy wrote: »

Hi,

Not sure on right page, but I have had a credit card for years. I was given this by my bank when I was very young and "green" about things and so just used it, paid it off etc. Anyway, back in 2000 I was made redundant and so when I phoned the credit card company to let them know I couldn't really pay the bills and if I could pay at a lower rate until I found work again they then informed me I had insurance and could claim, so I did. After that I just forgot about it and carried on paying the insurance in with my credit card bill, and I still am, (although I have tried to find info on this site about companies which may be cheaper, but am still looking!) would I be able to claim anything back as for the first 10 years or so of having this card I didn't know I had insurance etc. Do you think that because I have claimed on it I wouldn't be entitled to anything?

Sorry this seems a bit dim but I could really do with a bit of guideance on this. Have been coming to this site for a while and it has helped me no end, and saved me a lot of money, but some things just aren't that easy to do if you're not too sure.

Any help appreciated.:D

Thanks

Snuffy.x.

Im not sure that you would be able to claim if you have claimed from the insureance already. On MSE PPI Reclaiming guide it says when not to reclaim is if you have had a payout from your insurance - you can not then say it has been mis-sold

Check out any other cards or loans youve had though
x

ANY_CHANCE

Hi Joanne it looks ok to, me perhaps one of our experts could comment for us?
I struggle with writing the letters and whether to include things like:

contracts of good faith ... the lender being in a stronger position to know the truth failing in duty of disclosure - misreprisentation...
FSA commenting on selling of PPI - firms over relying on documents
Giving poor advice on PPI
Not having systems in place for checking suitability of the insurance
Poor price disclosure
Unfair consumer contract terms and regulations 1999

or just to stick to the templates

fishy81

Hi All,
New to this, but in desperate need of help!

fishy81 wrote: »

A close relative took out a £4000 loan with Abbey National in March 2004.
She was sold PPI of £941.00 on top of this. She did not know it was not complulsory.
She got into debt. She changed banks to Natwest, who said to take out a loan with them to pay off Abbey. Yet when she rang Abbey once the Natwest funds had come through, they said she was not allowed to pay it off in full. She has only just admitted this to me and I have checked paperwork which says you can pay it off early in full.
As such, she has ended up with 2 loans. She is in trouble with Abbey. As such, Abbey defaulted the account and she now has to pay a debt collecting agency a certain amount a month. (I think £75) and is still paying off the Natwest one.
She has since got into further debt and lots of trouble.

I have 3 questions, which can anyone help with?

1) Can she still make a PPI claim even though she is now in 'trouble' with them?
2) Shouldn't the PPI have covered her for maternity leave/out of work as a result? I have checked small print and can see no reason why not.
3) Does she have any kind of case about the failure to be able to pay off her loan? If so, how do we go about this? Her word against theirs?

Can anyone help???!!!

Thank you for your time

ANY_CHANCE

Hi hope everyone is well,

Just found out today a loan with the Halifax has a single premium insureance of 2,479 making the total debt 12,479

I have written the following

I purchased the above policy from you in March 2003 but now believe that I was mis-sold this policy for the following reasons:

I was led to believe by your salesperson that I had to have the insurance to enable me to take out the loan. I was not told this was optional and that I could have taken one out elsewhere. I believe details of the insurance and as to its suitability were not discussed with me.

The insurance sold to me was a single premium insurance I did not fully understand at the time what this meant. I believe that as insurance contracts are contracts of the utmost good faith where there is a duty of disclosure because one party is in a strong position to know the truth. I believe that the single premium payment made me borrow more, rather than just pay a monthly fee for insurance. I believe that you should have made it clear to me that the policy generated large amounts of money for you. You did not do this and therefore I believe you have failed in your duty of disclosure. Your failure to disclose is misrepresentation at common law.

The consumer credit act 1999 states an over reliance on the part of the company on written information to explain rather than ensuring your needs were met and is therefore negligence in line with the 1967 misrepresentation act.

I would not have taken out this cover if I had had not been mis-sold and certainly would not have taken out single premium insurance.
I feel that the mis-selling of this product forced me into further debt by borrowing more money than was necessary. As a result of this it has been a contributing factor leading to financial difficulty

What do you think ? Have i used correct arguements?

ANY_CHANCE

Hello fishy81,
Im sorry to hear your relative is having a difficult time,
Im fairly new here and definately no expert but i just have a few thoughts:

Yes she should still be able to claim PPI if she believes she was mis-sold the policy (hope so anyway because that is what i am doing)

Im not sure about it covering for maternity leave. i would't have thought so mine doesnt, otherwise everyone would take one out before having their children!

dont know about the third question. I know the PPI s sold to us have definately plunged us into huge debt:eek: . I just think it is another arguement to go along with the mis-seling

andrewcaplen

Hi,
Can lenders listen in to phone calls between you and the bank to verify who you say you are with passwords?

Regards

Andrew

ANY_CHANCE

Sorry Andrew can you explain further im not sure what you are asking

fishy81

ANY_CHANCE wrote: »

Hello fishy81,
Im sorry to hear your relative is having a difficult time,
Im fairly new here and definately no expert but i just have a few thoughts:

Yes she should still be able to claim PPI if she believes she was mis-sold the policy (hope so anyway because that is what i am doing)

Im not sure about it covering for maternity leave. i would't have thought so mine doesnt, otherwise everyone would take one out before having their children!

dont know about the third question. I know the PPI s sold to us have definately plunged us into huge debt:eek: . I just think it is another arguement to go along with the mis-seling

Hi Any Chance,
Thank you for your reply. I'm just drafting a letter now and I'm going to include a passage about the not letting her repay the loan.

I've also just emailed financial ombudsman about my 3rd Quesiton, Hopefully they can tell me if she can take it further.

If anyone else is in same situations, then financial ombudman is a free service and all I did was Google them.

Thanks:beer:

fishy81

andrewcaplen wrote: »

Hi,
Can lenders listen in to phone calls between you and the bank to verify who you say you are with passwords?

Regards

Andrew

Hi Andrew
I'm not sure about a 3rd party being in on the line. I know Clarkson (Top Gear/Sun Paper) had a load of bother with lenders and banks etc as they rang him up, expected him to give them a password to prove who he was, before they would talk to him about his account! He told them he wanted them to give him a password to prove that it was genuinely his bank on the other end of the phone.

They refused, as did many other companies, but I believe Sky or someone agreed.

Surely a good idea though, as anyone could ring, pretend to be bank, and get info off you?!

Plus, I remember reading in papers a while ago about Government listening in on everyone's phone calls and I know this includes to debt collectors, loans etc. Dodgy.

Don't think you're ever free of Big Brother!:rotfl: