ASU Problem - Mis sold

brroonie_11

Hi there and thanks in advance for your input and expertise, 

around 8 years ago i took out an ASU which was roughly £33 for £600 worth of cover, fast forward and i was made redundant a year later, to which i claimed successfully, i was paid this for roughly 1 year £6000 - £7000, not sure exactly, fast forward to 2016 when i received a letter from the bank that i may have been mis sold the policy, so they spoke to me on the phone, asking questions as they do, i was totally truthful in what i said, to then i recieved a letter again sayin that i had indeed been mis sold the policy due to the sickness part that my workplace had full pay for sickness in place, this was said on the letter why i had been mis sold this, also in the letter they told me that i had won around £6000 due to this, but since i had claimed the policy for more than this then i would not be getting any payment as these offset themselves, which to be honest i was raging but it was what it was, it also mentioned for me to contact them to cancel the policy, if i didnt then they would keep it live, to which i decided to keep the policy, around 3 months later the payment somehow lowered to around £24, unsure why but everything seemed the same in terms of the policy, fast forward to this week i have received a letter again from the bank stating that they failed to cancel my ASU and how would i like to proceed?

Having recently periodically checked my case to check they have made the right decisions they identified that they failed to cancel my ASU despite me instructing them to do so when i accepted their offer of redress, as a result it is still live and they are sorry for the error,

to put this right i need to decide what to do that i can keep the policy or i can have it canceled and all payments refunded from when i told them to cancel (which i did not do) and receive 8% interest as well


this all seems a but too fishy for me, it seems they are trying to get me to admit i said i would cancel the policy, which never once did! Is it a case of they may have messed up the first time by not actually paying me the £6000? And trying to fob me off with whatever amount it it £1500 or something? 

Thanks again

Paul

dunstonh

this all seems a but too fishy for me, it seems they are trying to get me to admit i said i would cancel the policy,

No they are not.  You are reading far too much into it.   They have seen you are still paying despite a complaint being made previously.    

Is it a case of they may have messed up the first time by not actually paying me the £6000? 

The two things are not linked.   They quite correctly deducted the claim payout from the redress as they are meant to.    Indeed, a lot of cases where there have been successful claims and the redress would be zero get an automatic uphold decision whether it was missold or not.   

What has happened here is that they haven't realised you wanted to keep it.

 And trying to fob me off with whatever amount it it £1500 or something? 

No.    

[Deleted User]

brroonie_11 said:

also in the letter they told me that i had won around £6000 due to this, but since i had claimed the policy for more than this then i would not be getting any payment as these offset themselves, which to be honest i was raging but it was what it was, 

Why would that cause you to be 'raging'?

That would mean you expected to be refunded your payments but also paid out for the policy for which you were refunded.

You know that couldn't be right.

brroonie_11

Deleted_User said:

brroonie_11 said:

also in the letter they told me that i had won around £6000 due to this, but since i had claimed the policy for more than this then i would not be getting any payment as these offset themselves, which to be honest i was raging but it was what it was, 

Why would that cause you to be 'raging'?

That would mean you expected to be refunded your payments but also paid out for the policy for which you were refunded.

You know that couldn't be right.

Anything constructive?

thanks for your input

brroonie_11

dunstonh said:

this all seems a but too fishy for me, it seems they are trying to get me to admit i said i would cancel the policy,

No they are not.  You are reading far too much into it.   They have seen you are still paying despite a complaint being made previously.    

Is it a case of they may have messed up the first time by not actually paying me the £6000? 

The two things are not linked.   They quite correctly deducted the claim payout from the redress as they are meant to.    Indeed, a lot of cases where there have been successful claims and the redress would be zero get an automatic uphold decision whether it was missold or not.   

What has happened here is that they haven't realised you wanted to keep it.

 And trying to fob me off with whatever amount it it £1500 or something? 

No.    

Thank you, seems sensible i just dont know exactly how these things work, hense my post, wasnt sure about the mis selling because of they said i was mis sold due to the sickness part, but i claimed under the unemployment part

thank you

[Deleted User]

brroonie_11 said:

Deleted_User said:

brroonie_11 said:

also in the letter they told me that i had won around £6000 due to this, but since i had claimed the policy for more than this then i would not be getting any payment as these offset themselves, which to be honest i was raging but it was what it was, 

Why would that cause you to be 'raging'?

That would mean you expected to be refunded your payments but also paid out for the policy for which you were refunded.

You know that couldn't be right.

Anything constructive?

thanks for your input

Not a problem. Hopefully you have a better understanding now..

brroonie_11

Not a problem. Hopefully you have a better understanding now..

I do through Dunstonh comments yes 🙌 

[Deleted User]

brroonie_11 said:

Not a problem. Hopefully you have a better understanding now..

I do 

You're very welcome. We're here to help.

brroonie_11

Deleted_User said:

brroonie_11 said:

Not a problem. Hopefully you have a better understanding now..

I do 

You're very welcome. We're here to help.

Some people are

normanna

You just need to decide whether you want to keep the policy or not.  it is straightforward.  You will not get another refund due to any mis-selling as that has already been covered.