PPI Reclaiming discussion

pmolloy

Shaung159 wrote: »

Hi new to forum so please bear with me!

I have written to three credit cards that I opened 1999-2003: MBNA, Lloyds TSB and Morgan Stanley (now Goldfish). i went through a very nasty divorce a few years ago and used the cards very heavily and in consequence paid considerable interest and PPI. At the time I wasnt even aware i was paying PPI, although in hindsight it is on the statements! Having kept the statements the total amount spent on PPI over the cards is about £2000.

Having read Martin's site I wrote to all three companies claiming general misselling, as I wasn't even aware (until I read the site) that I was even paying PPI. I also had very generous employer benefits at the time and wouldnt have needed PPI.

All three took months to reply but have all now replied denying any misselling and enclosing copies of the original agreements. In all three cases there is a box asking for PPI that they claim I ticked. I can't deny or confirm whether I did or didn't tick this box.

My question is given these copies of the original agreements is it worth proceeding any further with these claims or have I fallen at the first hurdle.

many thanks

I have the same problem, I don't know if I ticked these boxes or not, I know that the cover was not explained fully and no attempt was made by the company involved to ascertain if this cover was neccessary but they have a copy of an agreement where the PPI box has been ticked, I don't see how I can take this any further. Any ideas, anyone?

pmolloy

JIMMY101 wrote: »

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.

Same problem with Natwest, first complained late last year, complaint has been denied twice, I have filed my complaint with the FOS but I still have a complaint open with Natwest as they have never stated that their response is the final response, I call them once a week for an update and the response is the same "they're still investigating your case and you will hear from us soon", this latest 'investigation' has been going since early january and I have received two letters asking for another 28 days, I'm expecting another letter like that this week. You should go ahead and file your complaint with the FOS as soon as possible (its free and easy to do) but also keep calling Natwest and keep asking them for an update on your case. If they say they need another 28 days then make a note in your diary to call them the very moment that 28 days has elapsed. If the loan application was done over the phone then demand a transcript of the call (include a cheque for £10). Basically, keep pestering them. Good luck with it all

gt568

JIMMY101 wrote: »

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.

I successfully claimed nearly £8000 back from natwest, and I got letters after 8 weeks saying I could go to the FOS. I sent the following letter and the matter was resolved pretty sharpish. You (and everybody else on this thread) need to be patient. These things won't get done quickly.

Here is a copy of the letter I sent, adapt as you see fit:

my address

bank address


I am extremely disappointed that since my original letter dated the xx xxxxxx 2007 you have been unable to satisfy my complaints. In order to refresh your memory I shall briefly summarise again why I was mis-sold this policy:

- Your salesperson implied that taking out the policy would assist my credit application.
- Your salesperson was very pushy in selling me the policy and that I felt I could not say no.
- Your salesperson implied that taking out the policy was essential for me to get the associated credit even though I informed them that I felt I did not require the cover.

When I took the loan with your company, I was lead to believe by your company/representative that it was part of the conditions of the loan. I have thought that for the last five years and more. It has only become apparent to me after the recent coverage by the media, and following the recent OFT and FSA investigations regarding the mis-selling of PLI by finance companies. Regarding the loan with the PLI applied, I believe I that I have been gravely mis-led and have been mis-sold this expensive insurance that I did not need or want. At the time of this application I was enduring financial difficulties and being my main bank account of this you were well aware. I am frankly shocked that you have operated my loan account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary.


Your responsibilities:

I would like to draw your attention to the terms of the contract that you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner that complies with UK law.


Firstly, I understand that at the time I entered into the loan contract with you your bank was running an incentive scheme to encourage your employees to sell PPI schemes, as were several other High Street banks. This information was posted on a public website in September last year:


SECRET documents leaked from two major banks show how bosses get their staff to sell big loans and the profitable insurance policies that go with them. Commission tables for the RBOS and NatWest reveal a score system in which bank workers amass disproportionally more points for selling larger loans and for those sold with insurance - sparking fears that inappropriate products are being pushed.

In-branch customer service advisers are able to earn a quarterly bonus of £1,200 if they consistently reach a weekly target of about 2,700 points over three months and if their branch also reaches its three-monthly target. Staff earn 30 points if they sell a customer a personal loan of between £3,000 and £4,999, but they earn 90 points if the loan is sold with payment protection insurance - the controversial cover that is supposed to pay out if a borrower loses their income.

I was not aware of this and even if it is untrue, I consider that there was a clear conflict of interest between your fiduciary responsibilities to me and the direct selling by your employees of PLI schemes, given the very large profit margins they generate.


When I took the loan with your company I was led to believe by your company and representative that it was part of the conditions of the loan. As stated above I have thought that for the last five years and more. It has only become apparent to me after the recent coverage by the media, and following the recent OFT and FSA investigations regarding the mis-selling of PLI by finance companies. Regarding the loan with the PLI applied, I believe I that I have been gravely miss-led by your company at a time when I was facing financial difficulties and have been miss-sold this expensive insurances that I did not need or want. At the time of this application I was in full-time employment with no risk of redundancy, a fully paid salary for 12 months of sickness had a generous life insurance and critical illness insurance policies.


No attempt was made to ascertain if the product provided was fit for purpose, suitable for my needs or if indeed it at all. No inquiry was made as whether I had pre-existing insurance for accident, illness or unemployment. At no time were any rights to cancel explained. I believe you manifestly failed in your fiduciary responsibilities, your duty of care.

Secondly, I understand under the Consumer Credit Acts and following a House of Lords judgment that you are not allowed to make a loan conditional on taking PPI unless you include the costs of PPI as part of the charge for credit and not the credit itself.

You did not do this. You added it to the total for credit and then charged me further interest on the premium on top of the interest for the loan. This is unacceptable.

Finally I believe insurance contracts are contracts uberrimae fidei (contracts of the utmost good faith) which imposes on you a “duty of disclosure of all material facts because one party is in a strong position to know the truth.” Inter alia, I believe that you should have disclosed to me that the type of policy you sold me, a single payment premium, essentially made me borrow more money, rather than simply pay a monthly fee for insurance. I believe you should have made it clear to me that the policy generated large profits for you. You failed to do this. I believe that you have also therefore failed in your duty of disclosure. Your failure to disclose is misrepresentation at common law.

What I require:

Your concealment of the act of mis-selling has prevented me from asserting my right until now. I believe that there are strong grounds for action against you under common law, statute and consumer regulations.


Despite my request you have also failed to inform me of the amount of interest that was applied directly to the PLP element of my loan. I believe this to be a stalling tactic of yours as the amount is so large.


The original premium was £xxxxxx added to the loan amount on the xth Dec 2001. I presume that interest at 8.9% was added to this amount (Unless you can inform me otherwise). Interest £xxxxx Total amount £xxxxxx. The Statutory 8% interest (S69 of the County Court Act) allowed by the Courts will amount to £xxxxxx. Making the total amount payable at the Court Stage £xxxxxx.

My targets to resolve this matter

I previously wrote to you on the xx xxxxxx 2007 to ask you to refund these premiums paid together with interest equal to your APR at the time under the accepted principle of mutuality and reciprocity. You have not responded positively to this request.
I did hope that you would enter into a sincere dialogue with me about this matter and I wrote the previous letter to you on the assumption that you would prefer to do this rather than merely respond with standard letters and leaflets. To this date I have only received your standard letters asking for more time to investigate and a letter to cancel my PLI.


I am now sending you a letter before action giving you a further 14 days in which to reflect. I believe that this time frame is sufficient for a large company such as yours with its dedicated staff and departments. After that, there will be no further communication from me and I shall issue a claim through the courts at the expiry of this second deadline.

Yours sincerely,

pmolloy

gt568 wrote: »

I successfully claimed nearly £8000 back from natwest, and I got letters after 8 weeks saying I could go to the FOS. I sent the following letter and the matter was resolved pretty sharpish. You (and everybody else on this thread) need to be patient. These things won't get done quickly.

Here is a copy of the letter I sent, adapt as you see fit:

my address

bank address


I am extremely disappointed that since my original letter dated the xx xxxxxx 2007 you have been unable to satisfy my complaints. In order to refresh your memory I shall briefly summarise again why I was mis-sold this policy:

- Your salesperson implied that taking out the policy would assist my credit application.
- Your salesperson was very pushy in selling me the policy and that I felt I could not say no.
- Your salesperson implied that taking out the policy was essential for me to get the associated credit even though I informed them that I felt I did not require the cover.

When I took the loan with your company, I was lead to believe by your company/representative that it was part of the conditions of the loan. I have thought that for the last five years and more. It has only become apparent to me after the recent coverage by the media, and following the recent OFT and FSA investigations regarding the mis-selling of PLI by finance companies. Regarding the loan with the PLI applied, I believe I that I have been gravely mis-led and have been mis-sold this expensive insurance that I did not need or want. At the time of this application I was enduring financial difficulties and being my main bank account of this you were well aware. I am frankly shocked that you have operated my loan account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary.


Your responsibilities:

I would like to draw your attention to the terms of the contract that you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner that complies with UK law.


Firstly, I understand that at the time I entered into the loan contract with you your bank was running an incentive scheme to encourage your employees to sell PPI schemes, as were several other High Street banks. This information was posted on a public website in September last year:


SECRET documents leaked from two major banks show how bosses get their staff to sell big loans and the profitable insurance policies that go with them. Commission tables for the RBOS and NatWest reveal a score system in which bank workers amass disproportionally more points for selling larger loans and for those sold with insurance - sparking fears that inappropriate products are being pushed.

In-branch customer service advisers are able to earn a quarterly bonus of £1,200 if they consistently reach a weekly target of about 2,700 points over three months and if their branch also reaches its three-monthly target. Staff earn 30 points if they sell a customer a personal loan of between £3,000 and £4,999, but they earn 90 points if the loan is sold with payment protection insurance - the controversial cover that is supposed to pay out if a borrower loses their income.

I was not aware of this and even if it is untrue, I consider that there was a clear conflict of interest between your fiduciary responsibilities to me and the direct selling by your employees of PLI schemes, given the very large profit margins they generate.


When I took the loan with your company I was led to believe by your company and representative that it was part of the conditions of the loan. As stated above I have thought that for the last five years and more. It has only become apparent to me after the recent coverage by the media, and following the recent OFT and FSA investigations regarding the mis-selling of PLI by finance companies. Regarding the loan with the PLI applied, I believe I that I have been gravely miss-led by your company at a time when I was facing financial difficulties and have been miss-sold this expensive insurances that I did not need or want. At the time of this application I was in full-time employment with no risk of redundancy, a fully paid salary for 12 months of sickness had a generous life insurance and critical illness insurance policies.


No attempt was made to ascertain if the product provided was fit for purpose, suitable for my needs or if indeed it at all. No inquiry was made as whether I had pre-existing insurance for accident, illness or unemployment. At no time were any rights to cancel explained. I believe you manifestly failed in your fiduciary responsibilities, your duty of care.

Secondly, I understand under the Consumer Credit Acts and following a House of Lords judgment that you are not allowed to make a loan conditional on taking PPI unless you include the costs of PPI as part of the charge for credit and not the credit itself.

You did not do this. You added it to the total for credit and then charged me further interest on the premium on top of the interest for the loan. This is unacceptable.

Finally I believe insurance contracts are contracts uberrimae fidei (contracts of the utmost good faith) which imposes on you a “duty of disclosure of all material facts because one party is in a strong position to know the truth.” Inter alia, I believe that you should have disclosed to me that the type of policy you sold me, a single payment premium, essentially made me borrow more money, rather than simply pay a monthly fee for insurance. I believe you should have made it clear to me that the policy generated large profits for you. You failed to do this. I believe that you have also therefore failed in your duty of disclosure. Your failure to disclose is misrepresentation at common law.

What I require:

Your concealment of the act of mis-selling has prevented me from asserting my right until now. I believe that there are strong grounds for action against you under common law, statute and consumer regulations.


Despite my request you have also failed to inform me of the amount of interest that was applied directly to the PLP element of my loan. I believe this to be a stalling tactic of yours as the amount is so large.


The original premium was £xxxxxx added to the loan amount on the xth Dec 2001. I presume that interest at 8.9% was added to this amount (Unless you can inform me otherwise). Interest £xxxxx Total amount £xxxxxx. The Statutory 8% interest (S69 of the County Court Act) allowed by the Courts will amount to £xxxxxx. Making the total amount payable at the Court Stage £xxxxxx.

My targets to resolve this matter

I previously wrote to you on the xx xxxxxx 2007 to ask you to refund these premiums paid together with interest equal to your APR at the time under the accepted principle of mutuality and reciprocity. You have not responded positively to this request.
I did hope that you would enter into a sincere dialogue with me about this matter and I wrote the previous letter to you on the assumption that you would prefer to do this rather than merely respond with standard letters and leaflets. To this date I have only received your standard letters asking for more time to investigate and a letter to cancel my PLI.


I am now sending you a letter before action giving you a further 14 days in which to reflect. I believe that this time frame is sufficient for a large company such as yours with its dedicated staff and departments. After that, there will be no further communication from me and I shall issue a claim through the courts at the expiry of this second deadline.

Yours sincerely,

I sent the exact same letter back in January by recorded delivery and it hasn't made any difference to them, they still treat it as a normal complaint. Not much else I can do except wait.

nephasu

I was sold insurance to protect a loan i had from sainsbury's and after i had an accident they refused to pay me ive finally taken them to court and won.£15000.00 its taken me 2 years but ive done it.

Don't allow these banks to rob you fight.:j

gt568

pmolloy wrote: »

I sent the exact same letter back in January by recorded delivery and it hasn't made any difference to them, they still treat it as a normal complaint. Not much else I can do except wait.

Fill out the court forms and post them to NW as a threat.

pmolloy

gt568 wrote: »

Fill out the court forms and post them to NW as a threat.

I like that idea but I really am not too sure what to write for the particulars of claim.

Locke

I sent 2 letters off at the beginning of the week but didn't send them recorded delivery.

Should I have and how long should I wait for a response before sending the same letters again recorded?

Clairel29

Locke wrote: »

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.

Hi
Thanks for this however, how do I compose the next letter.

Thanks
Claire

reallylost

Hi all
I have just had a reply off the FOS about my PPI claim from Cap 1.
They say they cannot uphold the complaint as I had the PPI for the last 7 years without complaining and that my application form (dated 2001) asked for the PPI.
Is that it then?
I keep seeing people getting theirs back from cap 1 I thought it was going to be the same as them.
Can I do anything else or do I just leave it now?
Any help please.