PPI Reclaiming successes and failures

boycey01

di3004 wrote: »

Hiya

Well done on your success.:beer:

I would email/write or ring to make sure on this, tell them you've heard absolutely nothing in regards of the 2nd loan, so do not know where you are with this, tell them you understand it was upheld, but you've no figures and received nothing in regards of the interest.

Copy the emails (if you email) to the CEO for a quicker response, put down "urgent" in the subject line.

But otherwise see what the other folks thinks as well, I would be nagging and nagging at them lol.;)

Thanks again Di :A
I will get an email sent off this afternoon. Do you think I should also mention about the Halifax calculations (as it is the same CEO after all!) and attach a copy of the letter i've sent them?

di3004

boycey01 wrote: »

Thanks again Di :A
I will get an email sent off this afternoon. Do you think I should also mention about the Halifax calculations (as it is the same CEO after all!) and attach a copy of the letter i've sent them?

Your welcome hon.:A

And yes, defo mention about the Halifax Calcs as well, I would.:D;)

I would keep re-sending the email if you've not heard within a reasonable time. x;)

themass

Thanks Niggly, Di and Amersall, some great points, i will look through it all soon and put a letter together for Norton and see what they say, i do however think they will stick to their guns and take it all the way.
Steve.

amersall

Third they have said they will take £4200 off the outstanding loan but it will still be the same loan. If this is the case can they wipe of the arrears they are showing on my credit file.

This means that it is the same loan term and apr,you should ask them what the loan balance is now and your payment with the monthly ppi payment off, you also need this in writing to make doubly sure the ppi has been removed.They should put your loan on your credit file as up to date but i would ask them if they can remove the arrears that were showing, not sure if they can do this but worth a try.

amersall

I would be questioning what the 'Rebate Refund' is.

This could be that when the ppi was cancelled on the card they refunded the part month of the ppi from cancellation?.

amersall

themass wrote: »

Thanks Niggly, Di and Amersall, some great points, i will look through it all soon and put a letter together for Norton and see what they say, i do however think they will stick to their guns and take it all the way.
Steve.

They will take it all the way........to a lose :D:D
Trust us,this is a win,and stop being so defeatist :p:p
It doesnt become you :rotfl::rotfl:

Also,did norton say this was the final response,or have they said
"any queries contact us"?.
This is important as if this is the final response,dont send this letter to them,they will not aknowledge you,send the letter to FOS, if they say you can contact them then send the letter to them.

When you have done your letter please post here and we will tweak it :D

amersall

HERE GOES MASS.
To whom it may concern
for FOS)

We believe we were mis sold ppi on the above loan account with Norton Finance,please find enclosed copies of the response from Norton regarding this...

The reasons we were mis sold are given below.

1) We were told to look on this as a savings plan and that we could get the cashback overtime.

2) we were not told that this ppi would,after the cashback still be on the loan to term end with interest.

3) The first life named on the policy document is the only person fully covered by the ppi. The second borrower although joint liable for the loan is only covered for death. life insurance cover is irrelevent in this case because its so cheaply obtained elsewhere.

4)70 % commission will have been taken on this policy by Norton. A fact that has not been disclosed anywhere on the loan/point of sale agreements. This is called secret commission. We believe they have therefore been influenced by the high commission they could get in arranging a policy.

We believe we were not given enough information on this ppi to make an informed decision. Had we known the full cost of this ppi we would not have taken it.

How can they offer us a policy when they dont know the levels of cover elsewhere and offer a policy that meets our specific needs.
Our loan agreement does not have the the actual interest we will pay on the ppi loan in total to term end.
Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for our circumstances we will require you to reset the loan as if PPI had never been applied.


(For Norton) with reference to your letter dated x y z regarding mis sell of ppi on the above loan account number.

We disagree with your findings regarding this mis sell and would like to refer you to the FOS website, where we draw your attention to case studys and ombudsmans decisions with particular reference to case study b.

We know we were mis sold the above ppi for the reasons stated below and the ombudsmans decision re case b.

PUT HERE THE REASONS SAME AS FOR FOS LETTER THEN......

.......We would like you to send us the written transcipt of the sale where we accepted this ppi after having been told the full cost and consequences of this insurance

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for our circumstances we will require you to reset the loan as if PPI had never been applied.

Di and Niggly does this look ok? anyone want to add or take away?x.

themass

They stated i could contact the FOS within 6 months of this letter, no leaflet or anything,,, Amersall you are star...
ps,,, the loan was paid off.

amersall

themass wrote: »

They stated i could contact the FOS within 6 months of this letter, no leaflet or anything,,, Amersall you are star...
ps,,, the loan was paid off.

Yes i realised and edited the post :rotfl:
Does it give you a number for Norton if you want to discuss this at all?.
If not then straight to FOS.

Niggly_2

amersall wrote: »

HERE GOES MASS.
To whom it may concern
for FOS)

We believe we were mis sold ppi on the above loan account with Norton Finance,please find enclosed copies of the response from Norton regarding this...

The reasons we were mis sold are given below.

1) We were told to look on this as a savings plan and that we could get the cashback overtime.

2) we were not told that this ppi would,after the cashback still be on the loan to term end with interest.

3) The first life named on the policy document is the only person fully covered by the ppi. The second borrower although joint liable for the loan is only covered for death. life insurance cover is irrelevent in this case because its so cheaply obtained elsewhere.

4)70 % commission will have been taken on this policy by Norton. A fact that has not been disclosed anywhere on the loan/point of sale agreements. This is called secret commission. We believe they have therefore been influenced by the high commission they could get in arranging a policy.

We believe we were not given enough information on this ppi to make an informed decision. Had we known the full cost of this ppi we would not have taken it.

How can they offer us a policy when they dont know the levels of cover elsewhere and offer a policy that meets our specific needs.
Our loan agreement does not have the the actual interest we will pay on the ppi loan in total to term end.
Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for our circumstances we will require you to reset the loan as if PPI had never been applied.


(For Norton) with reference to your letter dated x y z regarding mis sell of ppi on the above loan account number.

We disagree with your findings regarding this mis sell and would like to refer you to the FOS website, where we draw your attention to case studys and ombudsmans decisions with particular reference to case study b.

We know we were mis sold the above ppi for the reasons stated below and the ombudsmans decision re case b.

PUT HERE THE REASONS SAME AS FOR FOS LETTER THEN......

.......We would like you to send us the written transcipt of the sale where we accepted this ppi after having been told the full cost and consequences of this insurance

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for our circumstances we will require you to reset the loan as if PPI had never been applied.

Di and Niggly does this look ok? anyone want to add or take away?x.

Refer to case study B under the FOS website. Norton are just playing for time as are all the intermediaries that took 70% commission on the ppi. Thats why so many companies are filing for administration they can not afford to put customers back where they should be. You will win its just a case of fighting through to the end.

N