PPI Reclaiming discussion

Scottrobson

Thanks Amanda, i will send a letter off asking for confirmation around these so called up grades of insurance by telephone, they failed in their letter back to me to give me datails of how much insurance i actually paid, so i will write off asking for that too. I will put this to them that, again if i dont have a satisfactory response within the 8 weeks of the 1st letter i will take it to the FOS even without these details and report them for not providing details within the specified time scale.

Thanks for your comments.

sarish_reddy

***need Some Help Pls How To Send A response to this which i received from Ltsb***
Hiya As I Have Send A Letter To Lloyds Tsb To Claim Back My Loan Ppi Last Week . As I Just Received My First Letter On Sat From Lloyds Tsb Saying :-
1) I Have Reviewed The Document That Have Been Provided By Lloyds Branch That Sold Your Loan Protection Insurance .the Forms That You Have Signed Confirm That You Were Advised Of The Loan Protection Insurance

2)upon Taking Out Your Loan Agreement You Signed A Document That Highlighted The Cost Of Your Loan Agreement And Also The Details Of Your Protection Cover .this Doc Was Your Personal Loan Agreement

3) I Realise That There Is A Lot Of Paperwork To Read When Taking Of Loan.however I Do Belive There Is A Certain Amount Of Resp On Your Behalf To Read Any Docum When Signing Legally Binding Contracts
4)i Appreciate That You May Be Disappointed With My Resp But I Do Hope I Have Adeqyately Explained The Reason Behind My Decision

gt568

sarish_reddy wrote: »

***need Some Help Pls How To Send A response to this which i received from Ltsb***
Hiya As I Have Send A Letter To Lloyds Tsb To Claim Back My Loan Ppi Last Week . As I Just Received My First Letter On Sat From Lloyds Tsb Saying :-
1) I Have Reviewed The Document That Have Been Provided By Lloyds Branch That Sold Your Loan Protection Insurance .the Forms That You Have Signed Confirm That You Were Advised Of The Loan Protection Insurance

2)upon Taking Out Your Loan Agreement You Signed A Document That Highlighted The Cost Of Your Loan Agreement And Also The Details Of Your Protection Cover .this Doc Was Your Personal Loan Agreement

3) I Realise That There Is A Lot Of Paperwork To Read When Taking Of Loan.however I Do Belive There Is A Certain Amount Of Resp On Your Behalf To Read Any Docum When Signing Legally Binding Contracts
4)i Appreciate That You May Be Disappointed With My Resp But I Do Hope I Have Adeqyately Explained The Reason Behind My Decision

On what grounds was your policy mis-sold.

hulahoopsrule

Hello,

Just worked (working) out how to post new threads
I sent off 5 claims for ppi ....

GE Money (Topshop store card) roughly £300
Welcome Finance £2500+ (on a £2,250 loan paid off early!!)
HSBC Mastercard £200ish
Citi Cards £200ish
Barclaycard £200ish

So far only GE Money have replied back to me basically saying you signed it your problem. (I claimed under the clause that they had already been fined)

They also said the FSA fine was only relevant to policies sold AFTER 14th Jan 2005, so I have replied back today saying "although ICOB was not in force before 14th Jan '05 I believe that the sale of insurance to me was negligent because the sales adviser failed to give me reasonably competent advice".

Its worth a try will let you know what they say to that, but not holding my breath.

Let you all know if I here anything from the others - I really wanna win over Welcome Finance they were pure evil to deal with, will post a separate reply on here (if this first one goes through ok)

Good luck everyone xx

hulahoopsrule

Further to my previous post I just want to wish everyone good luck in their fight especially those against welcome.

I took a loan out with them (yes I realise in hindsight i was v stupid)

At first I borrowed £1,500 over 24 months
they charged ....
£205 healthcare (?) another form of ppi which they said was compulsory with me being "high risk"
£399.68 ppi (says optional on form but was told compuslory for credit with me being "high risk")
£75 acceptance fee (due to me being "high risk")
oh and a lovely rate of 57.1% apr TOTAL = £3,257.52!!!:mad:

Surely the penalty already for being "high risk" reflects in the outrageous apr I was charged?!!!

Unfortunately 9-10 months into it I needed a top up loan of £790.00 (I swopped jobs from weekly to monthly pay):o

They gladly sat me down and worked out the following for me...

(over 30 months)

£1,459.99 (amount used to settle existing loan)
£790.00 (new cash amount)
£200.00 (ANOTHER lump of healthcare ppi
£645.39 ppi
£75 acceptance fee

This time round with me being a good payer they were able to offer me a "special reduced rate" of 45.7% apr TOTAL = £4,852.50!!!

(Overall amount I actually borrowed £2,290.00)

I paid back the loan in full 10 months early and they kindly knocked off £407.64 off the total loan.

Would be interested and quite frankly overjoyed to hear of any success stories/replies from Welcome Finance, and of course will keep you posted on how I get on.

x

Bluerover

If you have claimed miselling due to a pre exsisting medical condition. Can I ask have you been required to send any medical records or conformation from a Doctor? or had to give permission to the company looking at your medical records?

And what is a "classed" as a pre exsisting medical condition please. Is there a list somewhere?

blondiebee_2

Well, just sent off my letter to HSBC claiming £1295 for a PPI that was put onto a loan I had 4 years ago. I was told it 'would be better for the credit application' !

HSBC are gonna hate me! They paid me £3688 for my reclaimed bank charges in July

sarish_reddy

gt568 wrote: »

On what grounds was your policy mis-sold.

my policy was mis sold on the following grounds

• your salesperson stated that taking out the policy would assist my credit application.

• your salesperson was very pushy in selling me the policy so that I felt I could not say no.

• your salesperson stated that taking out the policy was essential for me to get the associated credit your salesperson did not give me full information on what the policy would and would not cover

• i am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

• having recently looked at the paperwork for my loan I now realise that I have been payed for insurance that I did not know I had taken out so could not have been explained to me.

gt568

sarish_reddy wrote: »

my policy was mis sold on the following grounds

• your salesperson stated that taking out the policy would assist my credit application.

• your salesperson was very pushy in selling me the policy so that I felt I could not say no.

• your salesperson stated that taking out the policy was essential for me to get the associated credit your salesperson did not give me full information on what the policy would and would not cover

• i am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

• having recently looked at the paperwork for my loan I now realise that I have been payed for insurance that I did not know I had taken out so could not have been explained to me.

Send letter 2 back stating that they have not addressed your concerns properly about being told you HAD to have PPI, ect.

m.colak

Many of the letters that the bank are sneding you bank are of a similar template and actually the wording neither changes just your address and the date. My advice is check the top of the letter usually above the date. If this holds a additional reference code like most of them then you should also be able to state that your complaint hasn't been dealt with as you recognise the letter as a template and you require a full response to your concerns with a actual signature at the bottom not a digital. Then it becomes personal. Remember that if you speak on the phone get the person's name and if they have a policy of not providing their surname then speak to their manager as 9 times out of ten they have to provide their's. One last point is start giving reference numbers of your own out to the bank as in TEL1 this means that they have to put a note on the file and not casually lose all trace of you phone conversation. Hope this helps everyone.

Matt

Just keep swimming:D