PPI Reclaiming discussion Part II

marshallka

I am ringing the FOS tomorrow. I have not had an update in writing on my Co-op one for over a month. Also nothing on Barclays Firstplus (as they have not sent anything in to the FOS so they said) and also Barclays Firstplus re loan settlement. I think they should at least let us know something in writing. I did have a phone call last thursday to say that co-op was being held up cause co-op had not reposnded to the FOS and also he said that things had been noted about my Barclays Firstplus one but not received anything in writing for well over a month now.

I feel like writing to the FOS and making a complaint and asking for a final response!!!

Don't know who i can take it to though (LOL)

marshallka

Di, have you sent that OFT letter off??

Don't worry about that as they are not accusations as such.

kazc_2

Sorry to bother you again !!
My husband has just phoned Nemo to find out if we have had any form of a rebate as we had nothing in writing. The lady explained that since the loan was settled in August they had not had anything from us to cancel the ppi so had we not looked into this, the policy would run for the duration of the policy (another 3 and a half years!!).
She said they are going to send us a rebate letter out and we both have to sign it .
Is this normal practice? If so what sort of amount should we be looking at as a rebate?
Thanks again for your'e time.
k

Marshallka (sorry i didn't put your name on it)

marshallka

kazc wrote: »

Sorry to bother you again !!
My husband has just phoned Nemo to find out if we have had any form of a rebate as we had nothing in writing. The lady explained that since the loan was settled in August they had not had anything from us to cancel the ppi so had we not looked into this, the policy would run for the duration of the policy (another 3 and a half years!!).
She said they are going to send us a rebate letter out and we both have to sign it .
Is this normal practice? If so what sort of amount should we be looking at as a rebate?
Thanks again for your'e time.
k

Marshallka (sorry i didn't put your name on it)

God, get it cancelled straight away and then see whether they refund you anything in cash as the loan is now settled. They should have cancelled it along with the loan in my eyes. I have never heard of this.

Go for the misselling still though.

tiggrae

kazc wrote: »

Sorry to bother you again !!
My husband has just phoned Nemo to find out if we have had any form of a rebate as we had nothing in writing. The lady explained that since the loan was settled in August they had not had anything from us to cancel the ppi so had we not looked into this, the policy would run for the duration of the policy (another 3 and a half years!!).
She said they are going to send us a rebate letter out and we both have to sign it .
Is this normal practice? If so what sort of amount should we be looking at as a rebate?
Thanks again for your'e time.
k

Marshallka (sorry i didn't put your name on it)

I have seen instances of this happening - it's outrageous really - why don't you go back to nemo and ask as it was a PPI what was it protecting once you didn't have the loan ???? Bearing in mind this would have been a single loan agreement covering both PPI & loan who then in their right mind wouldn't want to cancel the insurance as it would be totally useless to you !!!!

di3004

marshallka wrote: »

Di, have you sent that OFT letter off??

Don't worry about that as they are not accusations as such.

Hiya hun

Will post it tomorrow now, did not get round to it until the last hour or so, in case we had more info, and its the letter you done for me hun thanks.:D .

Cheaptrick

Loan MARKS & SPENCERS

Can anyone help me with the following letter I have received from Marks & Spencers in response to the template letter that I sent from this site regarding the ppi:

Thank you for your recent correspondence and I apologise for the delay in replying. Our enquries took longer than anticipated.

I would like to begin by advising that our records show that you purchased this insurance in 2001 in connection with the above personal loan. We have no record of you having contacted us before now with any questions or concerns about the cover which has been provided.

I would like to assure you that we take our adherence to the General Insurance regualtions very seriously and we would not condone the mis-selling of our products.

All our advisors receive general insurance training and as such have to sit an accredited examination in order to take our customers through the loan application process over the telephone. I am therefore confident that the advisor would have ensured that you were eligible for the policy by asking anumber of questions and the eligibility criteria would also have been detailed in the policy documents that were sent out on acceptance of the loan application. These policy documents also clearly state the cancellations rights.

May I advise that when M & S Financial Services sold this product it did so in its capacity as an unauthorised internediary as it was not a member of the Banking Ombudsman or a member of the GISC. Furthermore, M&S Money were not authorised by the FSA until December 2001.

Therefore the loan was opened before this time and there is no evidence to suggest mis-selling of the policy, we are maintaining our decision that the insurance was correctly sold under how we were governed in July 2001.

If you are unhappy with the way your complaint has been handled or you are dissatisfied with the outcome, you may refer the complaint to the Financial Ombudsman Service, within six months from the date of this letter. Their address is South Quay Plaza, 183 Marsh Wall, London E14 9SR.

I dont know if this has any relevance by in 2004 I requested another loan from M&S and had to pay of the existing loan first I think it still had about a year and half to run

If anyone could help it would be much appreciated or do you think that I should give up now?

tiggrae

Cheaptrick wrote: »

Loan MARKS & SPENCERS

Can anyone help me with the following letter I have received from Marks & Spencers in response to the template letter that I sent from this site regarding the ppi:

Thank you for your recent correspondence and I apologise for the delay in replying. Our enquries took longer than anticipated.

I would like to begin by advising that our records show that you purchased this insurance in 2001 in connection with the above personal loan. We have no record of you having contacted us before now with any questions or concerns about the cover which has been provided.

I would like to assure you that we take our adherence to the General Insurance regualtions very seriously and we would not condone the mis-selling of our products.

All our advisors receive general insurance training and as such have to sit an accredited examination in order to take our customers through the loan application process over the telephone. I am therefore confident that the advisor would have ensured that you were eligible for the policy by asking anumber of questions and the eligibility criteria would also have been detailed in the policy documents that were sent out on acceptance of the loan application. These policy documents also clearly state the cancellations rights.

May I advise that when M & S Financial Services sold this product it did so in its capacity as an unauthorised internediary as it was not a member of the Banking Ombudsman or a member of the GISC. Furthermore, M&S Money were not authorised by the FSA until December 2001.

Therefore the loan was opened before this time and there is no evidence to suggest mis-selling of the policy, we are maintaining our decision that the insurance was correctly sold under how we were governed in July 2001.

If you are unhappy with the way your complaint has been handled or you are dissatisfied with the outcome, you may refer the complaint to the Financial Ombudsman Service, within six months from the date of this letter. Their address is South Quay Plaza, 183 Marsh Wall, London E14 9SR.

I dont know if this has any relevance by in 2004 I requested another loan from M&S and had to pay of the existing loan first I think it still had about a year and half to run

If anyone could help it would be much appreciated or do you think that I should give up now?

was the 2nd loan under the same account number - if so make a complaint to the financial ombudsman about this 2nd loan but mention that you believe the PPI was added on purely as you'de had it incorrectly added on to the first and the FOS may state M&S should repay on both loans

otherwise you can make a claim through the county court

tiggrae

di3004 wrote: »

Hiya hun

Will post it tomorrow now, did not get round to it until the last hour or so, in case we had more info, and its the letter you done for me hun thanks.:D .

do you want to put it up here and see if I can give it a tweak or two

di3004

kazc wrote: »

Sorry to bother you again !!
My husband has just phoned Nemo to find out if we have had any form of a rebate as we had nothing in writing. The lady explained that since the loan was settled in August they had not had anything from us to cancel the ppi so had we not looked into this, the policy would run for the duration of the policy (another 3 and a half years!!).
She said they are going to send us a rebate letter out and we both have to sign it .
Is this normal practice? If so what sort of amount should we be looking at as a rebate?
Thanks again for your'e time.
k

Marshallka (sorry i didn't put your name on it)

Hi hun
Nemo should cancel with your request, when having my loan advance with these they pressured me into keeping this because we had one on the first loan, but when it came to cancelling it was over the cooling period they done it straight away.

Sorry I have not had the chance to read all posts yet this evening , but for example they did only rebate an amount of £1998 from my last loan which my loan and ppi was a huge amount but when this was sorted through the FOS they repaid the lot back, plus interest.;)
I will mention though my repayments did not come down that much but at least it was cancelled and resolved later.

Good luck!