PPI Reclaims not covered by the FOS

marshallka

ssbjham wrote: »

Can anyone help me with a letter before action template?
Trying to reclaim ppi from a loan in 2003 sent three letters so far stating that under the llimitations act 1980 its not time barred, had three replies back saying as far as they are concerned it is ? Only option left is a LBA but not sure how to word it !
Any help would be greatly appreciated

Where you are stating section 32 of the limitations act you would have to take this to court really to use it. FOS would look at things similar though. Have you tried with the insurer as we said above as this is maybe your only option if FOS has no jurisdiction over the broker?

cejsmith

I thought you might like to know we managed to get money back from our M&S ppi via Allianz. We had a good case and could evidence that we already had in place income protection plan. I don't know if the figure we recived saw actually correct ( we had the card for 17 years but they only keep the records for 6) , but it was enough to make it worth while.

Allianz where very friendly to deal with ( if abit slow at times), so a good result was gained.

I wish everybody luck with their claims

di3004

cejsmith wrote: »

I thought you might like to know we managed to get money back from our M&S ppi via Allianz. We had a good case and could evidence that we already had in place income protection plan. I don't know if the figure we recived saw actually correct ( we had the card for 17 years but they only keep the records for 6) , but it was enough to make it worth while.

Allianz where very friendly to deal with ( if abit slow at times), so a good result was gained.

I wish everybody luck with their claims

Brilliant, thanks for letting us know and Well done!:T:beer::j

essexal

Just wanted to give you another success story - re above...

I originally submitted this claim as a part of 3 claims (1 rbs, 1 WF, 1 dial4 a loan) to the now defunct ratio, and Welcome originally sent back saying it was time barred, however i always look at my credit file and the dates they quoted were completely inaccurate !

A new company took up my claim and just under 2 weeks ago WF admitted liability and offered me £557 for the original £872 PPI. Bearing in mind i got a £500 refund when i early settled the loan they basically paid me the difference back plus £171 in interest, so after my 25% fee i still got just under £420 ! Put this with the RBS settlement of just under £2,800 and its amazing how much people were being ripped off !

The moral of this story is go to the FOS and get their advice and persevere ! These companies will try anything to get out of paying and also try delaying tactics....also ensure you check your credit file to check dates, for a maximum of £15 (with equifax and experian)you can check everything on there for the last 6 years including your latest credit rating ! its so worth it with the things i have found wrong on there including a default that i had cleared and was still outstanding on my file 2 years after i cleared it !!! (Egg so beware !)

So now i am left with one ppi for dial 4 a loan that was taken over by Welcome Finance (!!), on a £26,000 secured loan where the PPI was just over £4,000 and which i settled in Aug 2004...so far Ratio didnt do anything, the company who has just got me the £550 cheque said it was a waste of time, BUT the FOS took it on, gave me a reference and i sent all the letters and questionnaire's myself around 7 weeks ago. The reason for this is because it was a secured loan and even if companies werent under the juristication of the FSA the broker still had an obligation under the mortgage code to offer the correct insurance and in my case they never offered me a policy i could pay every month rather than an upfront which was alot more expensive (we are talking premiums paid of £43 a month vs what i could have paid with a monthly policy = £18 !!).

I have hassled WF twice and they have confirmed they have all my paperwork and are processing it HOWEVER despite various requests have confirmed nothing in writing, however i have made a record of all telephone calls and will go back to the FOS for advice and call WF again next week requesting a full and final response with immediate effect- after all for a possible £5000 (inc interest) its really worth the hassle....

Guyz and Gurls keep ya heads up on this stuff, i have just heard yesterday of Barclaycard and MBNA paying back £27,000 (yes thats right) on two PPIs on credit cards....think of what that could do for you your family and lifestyle !! Good luck !!

jes58

Hi Everyone
Sorry if I'm being thick but I really don't know who or if I should be complaining to next.
I wrote to First Plus in July with ref to a mis-sold PPI on a secured loan taken out in 2000 over a 15 yr period which I managed to settled early in 2007. I thought it was a long shot as I had made a successful claim on the policy and now through reading the posts on your brilliant site understand that FP was not subscribed to FOS in 2000, the problem I am having is who I should be contacting to pursue the claim or if I should bother at all?
On Friday I got a letter from Capital One which refers to the letter I sent to FP stating a totally different account number to the one I quoted in my letter saying that HFS was at my request acting as a broker and not an adviser to source the loan and PPI, I don't understand as when I took out the loan I phoned FP direct and all my original paperwork is on FP headed paper I don't recall having any dealings with Capital One or HFS.
Anyway, sorry for rambling the letter says that the sale was made on a non advised basis and that they didn't have to give me the full details over the phone it was up to me to read the policy properly and that they have checks in place to ensure their sales people follow the call structure and if they don't they are penalised accordingly so they find it unlikely I was given the wrong information.
It goes on to say that this is the final response on the matter and that I need to be aware that I can't go to the FOS as the PPI was pre 2005.
Is this worth pursuing or should I just accept my mistake of using FP in the first place.
Many thanks in Advance for any replies.

kesker1963

yes think i,m in that boat as my secured loan with first plus was with a broker who have gone into receivership, tried the fsa and the ombudsman and all say i have no case to answer, can anybody give me any advice on what to do next, thanks for any help.

di3004

essexal wrote: »

Just wanted to give you another success story - re above...

I originally submitted this claim as a part of 3 claims (1 rbs, 1 WF, 1 dial4 a loan) to the now defunct ratio, and Welcome originally sent back saying it was time barred, however i always look at my credit file and the dates they quoted were completely inaccurate !

A new company took up my claim and just under 2 weeks ago WF admitted liability and offered me £557 for the original £872 PPI. Bearing in mind i got a £500 refund when i early settled the loan they basically paid me the difference back plus £171 in interest, so after my 25% fee i still got just under £420 ! Put this with the RBS settlement of just under £2,800 and its amazing how much people were being ripped off !

The moral of this story is go to the FOS and get their advice and persevere ! These companies will try anything to get out of paying and also try delaying tactics....also ensure you check your credit file to check dates, for a maximum of £15 (with equifax and experian)you can check everything on there for the last 6 years including your latest credit rating ! its so worth it with the things i have found wrong on there including a default that i had cleared and was still outstanding on my file 2 years after i cleared it !!! (Egg so beware !)

So now i am left with one ppi for dial 4 a loan that was taken over by Welcome Finance (!!), on a £26,000 secured loan where the PPI was just over £4,000 and which i settled in Aug 2004...so far Ratio didnt do anything, the company who has just got me the £550 cheque said it was a waste of time, BUT the FOS took it on, gave me a reference and i sent all the letters and questionnaire's myself around 7 weeks ago. The reason for this is because it was a secured loan and even if companies werent under the juristication of the FSA the broker still had an obligation under the mortgage code to offer the correct insurance and in my case they never offered me a policy i could pay every month rather than an upfront which was alot more expensive (we are talking premiums paid of £43 a month vs what i could have paid with a monthly policy = £18 !!).

I have hassled WF twice and they have confirmed they have all my paperwork and are processing it HOWEVER despite various requests have confirmed nothing in writing, however i have made a record of all telephone calls and will go back to the FOS for advice and call WF again next week requesting a full and final response with immediate effect- after all for a possible £5000 (inc interest) its really worth the hassle....

Guyz and Gurls keep ya heads up on this stuff, i have just heard yesterday of Barclaycard and MBNA paying back £27,000 (yes thats right) on two PPIs on credit cards....think of what that could do for you your family and lifestyle !! Good luck !!

Well done to you.:beer:

di3004

jes58 wrote: »

Hi Everyone
Sorry if I'm being thick but I really don't know who or if I should be complaining to next.
I wrote to First Plus in July with ref to a mis-sold PPI on a secured loan taken out in 2000 over a 15 yr period which I managed to settled early in 2007. I thought it was a long shot as I had made a successful claim on the policy and now through reading the posts on your brilliant site understand that FP was not subscribed to FOS in 2000, the problem I am having is who I should be contacting to pursue the claim or if I should bother at all?
On Friday I got a letter from Capital One which refers to the letter I sent to FP stating a totally different account number to the one I quoted in my letter saying that HFS was at my request acting as a broker and not an adviser to source the loan and PPI, I don't understand as when I took out the loan I phoned FP direct and all my original paperwork is on FP headed paper I don't recall having any dealings with Capital One or HFS.
Anyway, sorry for rambling the letter says that the sale was made on a non advised basis and that they didn't have to give me the full details over the phone it was up to me to read the policy properly and that they have checks in place to ensure their sales people follow the call structure and if they don't they are penalised accordingly so they find it unlikely I was given the wrong information.
It goes on to say that this is the final response on the matter and that I need to be aware that I can't go to the FOS as the PPI was pre 2005.
Is this worth pursuing or should I just accept my mistake of using FP in the first place.
Many thanks in Advance for any replies.

Hi there

contact the FOS anyway and they will advise on your best direction to take this matter.

With most of us being in the same situation as yourself, with them not being regulated FSA/GISC etc at the time of when taking out the loan, the FOS have suggested the underwriter/insurer direction, as they would have been part responsible as well, they approve the finance to make sure your eligible, and the FOS are also trying to make these liable as well.
And they would have been regulated, so the FOS can investigate.

So give them a ring and explain your position, they will advise from here.

You don't always have the details of the underwriter/insurer as they are not always enclosed with the loan documentation, but with one of mine (different company) I wrote to ask for the ppi policy insurance booklet details and they sent them by post, all details of the insurer are enclosed.

Do not give up, give the fos a ring for reassurance on this, good luck, and please keep us posted. Cheers.
http://www.financial-ombudsman.org.uk/contact/index.html

di3004

kesker1963 wrote: »

yes think i,m in that boat as my secured loan with first plus was with a broker who have gone into receivership, tried the fsa and the ombudsman and all say i have no case to answer, can anybody give me any advice on what to do next, thanks for any help.

Hiya

What year did you take out your loan with the broker who have gone bust?
If after 2005 its possible you will be able to make a claim through the financial compensation scheme (FSCS), if this is the case then contact them below to ask if the broker is listed with them, if they are then you can arrange for them to send you a claim form.
http://www.fscs.org.uk/contact-us/

If they are not listed then please read my post above, and contact the FOS, there are ways around this, good luck.;)

kesker1963

hello the secured loan was taken out on the 22nd of december 2004 and the broker was the personal loan express that have gone into liquidation ans all first plus, fos and fis say i have no claim as they were not regulated at that time of the loan.