PPI Reclaiming discussion

SmellyOldSock

Hi

I sent a letter reclaiming PPI a couple of weeks ago. Received a reply today basically saying 'you didn't cancel within the 30 days' and 'you had piece of mind knowing you where covered during the time'.

Also it says should I wish the FOS to independently review my complaint I should do it within 6 months of the letter.

Does this mean I miss out the second letter and go straight to the FOS?

best wishes
Charlotte

Triggles

:mad: :mad: Okay. I'm fuming now.

Tesco called us immediately after receiving our letter and the female said "Oh definitely I agree, we missold the PPI and will reimburse you anything you've paid on it." Well, as the balance of the loan was rolled over into a new loan, it's ALL been paid! The full amount plus interest (a total of £1262 plus whatever interest they charged us) has been paid by us.

Today, we got a letter from Tesco saying this:

"Thank you for your patience while I have been investigating your complaint. Please find my proposed resoluation outlined below for your consideration.

Having carefully considered the specific circumstances of your case, I can confirm that Tesco Loans are prepared to refun the insurance premiums you have paid since the inception of the loan. I have arranged to credit your bank account with the sum of £733.12. We cannot unfortunately make the further interest payment you request in your letter. Our refund to you is by way of a goodwill concession despite your signed agreement with us and does not indicate a formal acceptance of the claims in your letter.

I hope that you are happy with the proposed resolution. In anticipation, I have arranged for your complaint to be closed....." (blah blah blah)

:mad: :mad: :mad: SO.... he has ALREADY had the money transferred to our account!!! Without even giving us the opportunity to accept/discuss the "proposed resolution"!! AND he has already closed the complaint!

I suppose this means I now have to send that second template letter, don't I? Saying I am requesting a more favourable outcome??

I just can't believe he just sent the money without a "by your leave" and closed the complaint. :mad:

Laini

SmellyOldSock wrote: »

Hi

I sent a letter reclaiming PPI a couple of weeks ago. Received a reply today basically saying 'you didn't cancel within the 30 days' and 'you had piece of mind knowing you where covered during the time'.

Also it says should I wish the FOS to independently review my complaint I should do it within 6 months of the letter.

Does this mean I miss out the second letter and go straight to the FOS?

best wishes
Charlotte

Hi

Does this letter say its their final response.
if it is
you need to send a copy of it and any other documentation with the completed complaint form to FOS

if it isnt
you will have to wait for that or ask them is it their final response and ask for it in writing if it is.
the FOS will send your form back if you dont send the final response letter in.

hope thishelps

LOL
Laini xxx:j

Triggles

We also want to cancel the PPI on our current Tesco loan. I understand we need to do it in writing, and send it registered mail so we know it's been received. But do we just request a reimbursement of the amount that remains in the loan? The current loan has £2476 for PPI, with an additional £465.80 for interest on "insurance loan." Since 11 payments have been made, and the payments are £49.03 each for "insurance loan repayments", does that mean we subtract 11 payments of £49.03 from the total amount and request that amount back??

doingmybest_3

Triggles wrote: »

:mad: :mad: Okay. I'm fuming now.

Tesco called us immediately after receiving our letter and the female said "Oh definitely I agree, we missold the PPI and will reimburse you anything you've paid on it." Well, as the balance of the loan was rolled over into a new loan, it's ALL been paid! The full amount plus interest (a total of £1262 plus whatever interest they charged us) has been paid by us.

Today, we got a letter from Tesco saying this:

"Thank you for your patience while I have been investigating your complaint. Please find my proposed resoluation outlined below for your consideration.

Having carefully considered the specific circumstances of your case, I can confirm that Tesco Loans are prepared to refun the insurance premiums you have paid since the inception of the loan. I have arranged to credit your bank account with the sum of £733.12. We cannot unfortunately make the further interest payment you request in your letter. Our refund to you is by way of a goodwill concession despite your signed agreement with us and does not indicate a formal acceptance of the claims in your letter.

I hope that you are happy with the proposed resolution. In anticipation, I have arranged for your complaint to be closed....." (blah blah blah)

:mad: :mad: :mad: SO.... he has ALREADY had the money transferred to our account!!! Without even giving us the opportunity to accept/discuss the "proposed resolution"!! AND he has already closed the complaint!

I suppose this means I now have to send that second template letter, don't I? Saying I am requesting a more favourable outcome??

I just can't believe he just sent the money without a "by your leave" and closed the complaint. :mad:

Hi i remember reading way back on here that you can accept this as an interim or part payment and tell them (with the second letter), that your not happy and are still seeking that they pay you what they owe in order to fully resolve your complaint, or something like that. I'm sure if that isn't correct, one of the good folks on here will put us right.

Andy79_2

ANY_CHANCE wrote: »

Hi Andy,

Send your letter off definately,

We paid our loan off with first plus and it had 12,000:shocked: front loaded PPI.
I have sent letters to broker for mis-selling and FP for unfair rebate
Just waiting to hear back now :rolleyes:

Im not sure about you paying the loan off?

Im sure that you should be able to cancel the PPI the lender must offer a loan of a similar rate etc? Can anyone advise ?

Just found this on FSA website
We have now concluded our work on refund terms. The agreement reached with a number of trade associations means that firms should:
treat their customers fairly if they need to reissue the associated loan in order to cancel the PPI;

:beer: AC

Thanks Anychance,
I will send a letter to them asking for a full refund as they mis-sold it to me and front loaded the ppi.Where would i find a template letter for this?
Thanks for the advice,will keep the forum updated to my progress,next step my credit card ppi!

Locke

Clairel29 wrote: »

Hi

Had my response from Capital One.

It says that I was sold PPI and the terms and conditions were not sent out to me.

However when they realised this (after the fine by FSA) then they submitted these to everyone.

They are saying the Capital One are not allowed to advice anyone to take out PPI and that the decision to do this was purely mine.

As it was on my monthly statement, it means that I was aware that I was being charged it and because I had not attempted to cancel it.

Therefore they will not be refunding any payments.

Again is this correct?

Thanks
Claire

From the main PPI page.

At this point, hopefully you will have received a satisfactory settlement offer. However, don't expect it and don't be surprised if it writes back saying something like "we sent you all the documentation." You are asking for cash back, if it can fob you off with an easy answer it will.

That's the advice from the first letter, try sending a follow up letter to see if they will change their mind.

I've wrote to Capital One too but I haven't had a reply yet so I'm interested to hear how others have got/getting on with claiming back from them.

martins_no.1_fan

Hi all !

I have a loan with HSBC which I took out in 2006, just realised due to Martins great advice that the ppi is costing me nearly £40 a month and it's been added to the loan!

I asked to cancel the ppi but was told I couldn't as the 30 day cooling off period has expired. I've been told I have to take out a new loan in order to cancel the ppi but as I'm working less hours now they say I'm not in the position to have a 'personal' loan but will have to take out a 'managed' loan. I've heard a bit about these on Watchdog and apparently they're not good!

What do I need to do?? Take out the new loan and then put my claim in or claim now saying they wouldn't let me cancel the ppi? Can they refuse my claim if I don't renew the loan due to the 30 day cooling off period that was in the contract I signed??

All advice very welcome!!

JIMMY101_2

Hello all,
I started a claim against Natwest for mis selling me the ppi on my loan, Today exactly 8 weeks and one day after i started the claim i recieved another letter from them saying that they are still trying to resolve my case, they need another 28 days. I have had 4 different letters telling me that my claim has been passed to another department. It is now with the custom relations department the same dept that sent me a letter four weeks ago saying they needed more time.

In todays letter they included a leaflet about the FOS saying that the 8 weeks was up and i could go to the ombudsman if i wanted.

Is this a bluff for more time by Natwest knowing the ombudsman decision is final or do things really take this long, the ombudsman leaflet says they sort cases out in 6 to 9 months.

I dont know what to do next as every time i phone them they say they can't discuss cases.

paula7924

Martin’s article into reclaiming says this…..


“How far back can you go?
Decide from this list which is most relevant to your situation:

• If your policy started in the last six years, whether you’re still using it or not: Reclaim and ask your lender for a copy of the paperwork if you no longer have it.
• If your policy started over six years ago and you are either still using it, or it ended within the last six years: Reclaim and ask your lender for a copy of the paperwork if you no longer have it. Your chances of success may be reduced if you have been aware of the mis-selling for some time, you have already complained or your account is very old.
• If your policy ended over six years ago and you have the paperwork: Reclaim, although your chances of success are reduced, as it will depend on what you can remember about the sale.
• If your policy ended over six years ago and you do not have the paperwork: Do not start a reclaim. As lenders only have to keep records for six years, if no one has a record of the contract a reclaim is unlikely to be successful.”

I have now had 2 letters from Barclays (for a Woolowich ppi) saying that as the policy started more than 6 years ago I am ineligible - this doesn’t seem to fit in with the above. Does anyone know what the situation really is?

(My policy started May 1997, ended August 2003)


thanks

Paula