PPI Reclaiming discussion

T4FF

Hi there,

I've been reading through the article again and have finally persuaded myself to look into this. I have a query that I can't seem to find answers for in the article and I had a quick scour of this discussion but it's taking a while (180 odd pages!!) hopefully someone can assist.....


Between 2001 and the present, I've had plenty of credit. Going through my credit file, I've counted up 7 loans spread between 5 loan companies and probably had 5-6 credit cards.

My question relates to the fact I have no idea (aside from the one bank account which did have overdraft cover and I do have the paperwork for thanks to reclaiming bank charges on it ) whether or not any of the finance I took out had insurance. Unfortunately, I have very little paperwork from old agreements, so I am doing this blind.

Now from what I've read in the article, Martin suggests that I should contact each creditor requesting a copy of the initial agreement using his template letter, but does this not constitute a subject access request? Therefore, would I not be required to pay £10 to each company I request this info from?

The predicament I'm in is that if this is the case, it could cost me upwards of £100 to find out I might not have had insurance!?!?!? So I'm wondering what I should do? Will these companies ask for money off me?

I should also point out that all of the agreements mentioned above have been settled at one point or another.


Thanks in advance.

nova

Hi petermb, what was is that made you a former broker etc? was is the way in which you had to sell loans or a comination of things. l hope you dont mind me asking it's just interesting to have an inside view!

juliedawn_2

sian-c wrote: »

have had, what now appears to be, a standardised offer from first plus regarding my ppi. an enhanced (!!!) rebate of 78% of the insurance premium. They are offering 4,125 in addition to 1,229 that will be applied to loan acc on cancellation of the policy. They have worded the acceptance meaning that they will take the whole amount off the loan account rather than a cheque to me and hubby.
Has anyone held out for the full amount of the ppi to be given back/took off the loan (in my case it is over 14,000) as why should we still be paying for something that is useless and we are unable to claim off. also how are people doing with getting their monthly payment reduced by ppi amount?

am really unsure as to hold out and take to fos for full amount rebated or settle now??
sian

we had the original rebate taken off the loan and the rest they are sending cheque.We are still paying for the ppi we haven't got plus a new PPI policy we are taking out when this is cancelled.Its unfair but they won't budge on that.Never mind I'll probably get a new secured loan to get rid of first plus.

MWH1

ClaireT wrote: »

My husband and I took out a loan with Halifax in Sept 05 for £16,200 over 8 years to consolidate some debts that we had. In order for us to get this loan Halifax stated that we had to take out the PPI cover (totaling £6,702!). Unaware that this was not an option and the fact that I was despirate to sort my debts out at the time I agreed and got the loan. Having heard about this website and the fact that what Halifax had done was not correct I sent them the first letter. My response after 4 weeks was "During my investigation I have been unable to find any evidence on file to suggest that the adviser stated that taking out the policy was essential for you to get the associated credit"

What a response of course they wouldn't write on the file that they told me I had to have PPI to get my loan!

They have put at the bottom of the letter if I remain unhappy I could go to the Financial Ombudsman.

Do you think I should go back to Halifax again or go straigth to the Financial Ombudsman?

Isn't it just my word against Halifax?

I feel that they are calling me a liar.

Any advice would be greatful.

Thanks

Hi Claire. Welcome to the world of dealing with Halifax! I particularly liked your response about them saying no evidence of mis-selling!

Press on with your reclaim, either by sending the second template letter or by referring your case to the Ombudsman. I have what I believe is a strong case against Halifax and have sent them 4 letters without success. My case has since been passed to the Financial Ombudsman Service for arbitration. Halifax are the kind of organisation which will make you push all the way to get something back (my opinion). How did you apply for the loan?

Please keep in mind, they have to prove that the insurance wasn't mis-sold so the pressure isn't on you.

digsby202

This is my first post on this thread, so I hope I make sense !

I had a Sainsbury's credit for about 4 years which I paid off and cancelled in March 2007. I was assured I would receive no statements, as I always get annoyed when statements arrive with nil balances ( not very often !)

In October 2007 I received a letter from them demanding insurance for this card from March 2007 until the date of the letter. I rang Sainsbury's and was passed from dept. to dept. was eventually told it was up to me to cancel the insurance seperately and the telephone number I was given to do this was totally wrong ! Yet another letter arrived ( insurance due was £12.00)
this one very threatening.I rang them and eventually cancelled the insurance.

I tried to explain, how on earth did I know anything was due when I did not receive staements!
Like many people I was not aware I had agreed to insurance. I rang them twice some 3 months ago requesting evidence I had agreed to insurance, none turned up.

Four weeks ago I sent a copy of Martin's template, adding my grievance about how I was treated.
Do you think I stand a chance of re-claiming? I know it won't be much but I was very upset when I received these letters. Last week they said they were still looking into it.

Any advice would be appreciated.

Thankyou D x

ClaireT_2

Thanks for your reply. I got the loan over the phone, then they sent a courier with the paperwork to sign and collect. Having looked at the loan agreement again today, there is a box to tick to say I wish to purchase PPI. As I haven't got a copy of the signed one I don't know whether or not I ticked that box. Would they give me a copy? I will probably send Halifax another letter and see what happens!

ianbal

I have a difficult dilema !!
I have, and have had several income protection policies. All were sold as stand alone policies. Most were issues flagged at bank financial revues, which I stupidly used to think were about making sure i was running my finances wisely, rather than opportunities to sell me insurance.....
Here's my dilema. I'm self employed, but a sole proprietor with employees. I've always had employees, and my bank have always been aware of this.
Now, if I was unable too work for a period of time over thirty days, in theory i would be eligable for payments. However, if my employees were still able too work on existing contracts, they would in effect still be providing me with an income.
Would an income policy pay out in this instance, or are these policies useless for someone in my position ? If so, would that constitute a form of mis-selling ?

Regards

Ian

LISAW_2

I have posted it here instead cos i know a few of you have been following this case with interest!

Guess what.... how long have i been waiting to write this!!!!!

Just had a call back from the head of complaints and he has overturned the decision and is gonna refund my policies!!!!

Not sure of exact figures as yet, but anything is better than the sod off they first offered me!!

Its gonna be £3400 hopefully plus the interest as it was top loaded and the interest @ 8 % from 1998!!!

If anyone can give me a rough idea that would be great...

Guys, I have argued and tried every trick in the book with this, and finally, the good man at LTSB ( and he was lovely ) has agreed as a matter of good will. My faith is a little restored...

Yahoo.... if wales win the rugby tomorrow it will be the best weekend of my life so far!!!

Thanks everyone for you support, I wouldnt have kept going with out


:beer: :beer: :beer: :beer: :beer:

LISAW_2

What does "plus interest accrued"

Is this as it was top loaded or the 8% I would have recieved? ( or both, or is that being greedy?? )

Can anyone help?

Sorry to be excited....

nova

LISAW wrote: »

What does "plus interest accrued"

Is this as it was top loaded or the 8% I would have recieved? ( or both, or is that being greedy?? )

Can anyone help?

Sorry to be excited....

Thats fantastic news, well done you, you have to wish me luck now coz nationwide said a big fat no 3 times so have written a really stern letter mentioning all those "acts"!! and given them 7 days or court, l hope l've done the right thing! l think they probably rely on us chickening out:T