PPI Reclaiming discussion

jessicad_2

Can anyone help me please?


How does this sound for a step 2 letter:

I am writing in response to your email received on 7th March 2008. With regards the insurance sold with my Cahoot fixed rate loan. Your reference Tracking number: A00004157769-00011775947

I appreciate the very prompt response on this matter, however I do not feel your email 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. I maintain that did not understand that I was accepting a PPI insurance, and certainly was not aware that it was optional or more importantly that the monthly repayments were including an additional fee for this policy.

Upon recognising that there was an additional amount of the loan repayment for this insurance policy, which I neither wanted nor needed, I cancelled it at the earliest opportunity. My records indicate this was 15 months after opening the loan account.

Thank you for your assistance thus far, I await your response, and if I do not receive a more favorable response within 14 days I shall be taking my complaint to the Financial Ombudsman.

?? any advice is appreciated.


Also have received a letter from Tesco responding to my first step letter stating its in the terms and conditions and the loan agreement documentation. However, my argument is that I didn't know it was optional and that I shouldn't have it as I have policy elsewhere. No response from the CC companies yet either

alverde

HI everyone

First time posting so bear with me. I started my reclaim in January and after a couple of letters back and forth received one from Lloyds last week to say that the would not pay out. I was claiming on the basis that I was self employed at the time I took out the loan and my bank manager was fully aware of this as I went into the branch to sort out the loan. This is what they replied:

"A self-employed customer is eligible for the Policy and dependent on his circumstances at point of claim, would be covered for all the benefits under the Policy. This includes the unemployment benefit, the accident and sickness benefit , the critical illness and life cover together with Positive Job Solutions. The definition of "employed" under the Lloyds Tsb policy includes a person who is self-employed."

In the booklet of terms and conditions under what you are NOT covered for it says: " unemployment which is normal or seasonal occurence in your line of work " and as a was a freelance fashion designer I feel that this would refer to me. And as I signed for the loan in my bank manager office he was fully aware that I had not read the whole of Terms and Conditions.

I think I still have a case but I don't know what to do
They said I can write to the Financial Ombudsman but is it worth writing to Lloyds again with what I found in the booklet of terms and conditions?

Any help and advice would be great. Thank you xxxx

m.colak

SUFC wrote: »

m.colak wrote: »

Hi am available now and i think i've covered everyone's questions if i haven't please get back in touch.


Hi, M.Colak. I'm just filling in MCOL forms. DO you know which address i have to put down for Black Horse Finance please? Regards, SUFC

Black Horse Ltd
Holbrock House
116 Cockfosters Road
Barnet
Hertfordshire
EN4 0DY

m.colak

alverde wrote: »

HI everyone

First time posting so bear with me. I started my reclaim in January and after a couple of letters back and forth received one from Lloyds last week to say that the would not pay out. I was claiming on the basis that I was self employed at the time I took out the loan and my bank manager was fully aware of this as I went into the branch to sort out the loan. This is what they replied:

"A self-employed customer is eligible for the Policy and dependent on his circumstances at point of claim, would be covered for all the benefits under the Policy. This includes the unemployment benefit, the accident and sickness benefit , the critical illness and life cover together with Positive Job Solutions. The definition of "employed" under the Lloyds Tsb policy includes a person who is self-employed."

In the booklet of terms and conditions under what you are NOT covered for it says: " unemployment which is normal or seasonal occurence in your line of work " and as a was a freelance fashion designer I feel that this would refer to me. And as I signed for the loan in my bank manager office he was fully aware that I had not read the whole of Terms and Conditions.

I think I still have a case but I don't know what to do
They said I can write to the Financial Ombudsman but is it worth writing to Lloyds again with what I found in the booklet of terms and conditions?

Any help and advice would be great. Thank you xxxx

Hi you must understand that they will try every tact to get you to give up reclaiming as it costs them money whereas a generate up yours letter costs them hardly anything. I would suggest you do as they say raise the complaint but be nice and send them a copy of the complaint sent to the FOS:D explaining that you were going to do exactly as they suggested thank you very much as you hadn't considered doing it before. :rotfl: Remember always be polite as that way they will get stressed before you do.

m.colak

gerturdeanna wrote: »

Wonder if anyone could help please?
After hearing about the PPI reclaiming etc, I thought I'd give it a go.
Sent the first template letter to Egg (Unfortunatley my letter is saved on my old comp which died!!)
Their final decision reply came yesterday.
Basically it says:

What I understood your complaint to be about:
You believe that you were mis-sold PPI cover when you applied for your Egg loan.
What my findings are after investigating it:
I have tried to trace the original phone call during which your loan application was discussed. Unfortunatley, I am afriad that I have been unsuccesful in finding the call on this occasion.
Egg is conscious of its duty as a responsible lender and will always tailor the loan to the circumstances of the applicant. Insurance will be offered if is thought to be of benefit to the applicant. The level of cover offered will be reliant upon the information given at the time of the application by the applicant.
The script that the associates must follow will always require them to ask the applicant how they are employed and what arrangments they have in place to meet commiments in the event of unemployment, sickness or an accident.
The information regarding the cover would have been included in the agreement you recieved and signed.
The agreement does cover the 30-day cooling off period for the PPI at which time you can contact Egg and we will cancel the policy from the account.
I am sorry to inform you that I do not accept your complaint.
Even though we do not accept your complaint, I still need to ensure that you are aware of your rights in relation to a complaint against us.
You now have 6 months from the date of this letter to take your complaint to the Financial Ombudsman Service.
If you want to discuss blah blah blah please contact us etc etc.

The claim is for two products. An egg credit card- paid off and an Egg loan whch is now a charge against the house.

What would you suggest the next step be?

Thanks

Ok split the claim into two as they are sepearte products second of all you have 6 years not 6 months. Thirdly if the date of the product being settled is within 6 years then they are oblidged by the limitations act to hold on to all information pertaining to the raised contract for a minimum of 6 years. If they can't provide this then this a breach of said act. Then state that under the Mis-representation Act 1967 you believe that the products were mis sold (This puts the onus on them to prove they weren't) Funny if they can't provide documentation on the products then they can't dis prove the Mis representation Act so you have them coming and going.

alverde

m.colak wrote: »

Hi you must understand that they will try every tact to get you to give up reclaiming as it costs them money whereas a generate up yours letter costs them hardly anything. I would suggest you do as they say raise the complaint but be nice and send them a copy of the complaint sent to the FOS:D explaining that you were going to do exactly as they suggested thank you very much as you hadn't considered doing it before. :rotfl: Remember always be polite as that way they will get stressed before you do.

Thank you very much for your quick reply! I will do that just didn't know if I still had a case but as you said they do try to put you off.

Thanks again xxxx

nova

Hi All, l am just trying to compose a letter to NW after waiting ages for them to say no to ppi claim, l've picked up some great tips off of the postings but was wondering how l mention the mis-representation act, is there a quote l could use, also they said the policy was sold on a non advised basis, what on earth does that mean? are they saying we sold you this policy for £3500 but have'nt got a clue whether you're covered or not, thats up to you to decide!!!

DuncanChambers

Hi, i had a loan through Virgin for 5 years which i had full PPI cover but i believe this was a single premium policy.
Unfortunately i never missed a payment, never had to claim and i saw it out to the end which means i'm not able to claim for this...but...i remember 2 years ago i had the money to pay the loan off completely but the lady on the telephone when i rang for a outstanding balance said why would i really want to pay the loan off early!? i said because i have the cash and can do so, she said if you pay it all off now it will be the same amount of money as if you let the loan complete itself over the remaining 2 years. I thought for a few seconds and thought what else i could do with the cash and might as well repay the loan over its natural term.
Can i get a claim in for this?

Thanks

Duncan

petermb_2

DuncanChambers wrote: »

Hi, i had a loan through Virgin for 5 years which i had full PPI cover but i believe this was a single premium policy.
Unfortunately i never missed a payment, never had to claim and i saw it out to the end which means i'm not able to claim for this...but...i remember 2 years ago i had the money to pay the loan off completely but the lady on the telephone when i rang for a outstanding balance said why would i really want to pay the loan off early!? i said because i have the cash and can do so, she said if you pay it all off now it will be the same amount of money as if you let the loan complete itself over the remaining 2 years. I thought for a few seconds and thought what else i could do with the cash and might as well repay the loan over its natural term.
Can i get a claim in for this?

Thanks

Duncan

Hi Duncan,

I hate to disagree with you but your comment about not being able to claim is simply not true. The fact that you have now paid the loan off means that the lender, in this case Virgin, will still owe you some money. How much depends on the circumstances surrounding the loan. Invariably the ppi is the least amount that you should be able to claim.

jrobinson4

alverde wrote: »

HI everyone

First time posting so bear with me. I started my reclaim in January and after a couple of letters back and forth received one from Lloyds last week to say that the would not pay out. I was claiming on the basis that I was self employed at the time I took out the loan and my bank manager was fully aware of this as I went into the branch to sort out the loan. This is what they replied:

"A self-employed customer is eligible for the Policy and dependent on his circumstances at point of claim, would be covered for all the benefits under the Policy. This includes the unemployment benefit, the accident and sickness benefit , the critical illness and life cover together with Positive Job Solutions. The definition of "employed" under the Lloyds Tsb policy includes a person who is self-employed."

In the booklet of terms and conditions under what you are NOT covered for it says: " unemployment which is normal or seasonal occurence in your line of work " and as a was a freelance fashion designer I feel that this would refer to me. And as I signed for the loan in my bank manager office he was fully aware that I had not read the whole of Terms and Conditions.

I think I still have a case but I don't know what to do
They said I can write to the Financial Ombudsman but is it worth writing to Lloyds again with what I found in the booklet of terms and conditions?

Any help and advice would be great. Thank you xxxx

Write back using the outline of the second template letter. LTSB refused to refund me at first but following the second letter I got a cheque for £482 last week. Don't give up - that's what they want.
Good luck
Jo