PPI Reclaiming discussion Part II

mlucyminx

marshallka wrote: »

I see now that you were replying to my reply here to Kaz. I had not ever heard of this happen before but tiggrae knew a couple. Its so wrong to do this.What are you protecting? If you had it happen to you then i would get a complaint to the OFT just to let them know of this. It should state it in the terms and conditions if they want you to cancel.

I actually stated that in my letter to them. Said that surely as the loan was now paid up I wouldn't have been able to claim against the insurance as there was no longer an outstanding debt so the insurance should have been cancelled and money refunded when the loan was paid up.

They said that basically the policy explained your right to cancel, but, nowhere does it say that if you pay the loan up early you have to contact them to cancel the policy.

These companies need to be issued with real fines. Fines that will hurt their pockets.

They are cashing in on vulnerable people.

I was really in trouble when I took these loans out and they know this is why people go to them. I have learn't a very harsh lesson.

kazc_2

Hi again,
I have managed to find a ppi booklet from nemo this morning as it was bugging me all night - you become obsessed with all of this!! I have found this :
"If your agreement ends before it's natural end date, which is during the first 60 months of your policy, your policy will remain in force for the remainder of the 60 months unless you ask for it to be cancelled.

kazc_2

It also gives you a chart of what you can expect to b refunded:
after 6 repayments 14%
after 12 repayments 13%
after 24 repayments 8%
ater 36 repayments 4%
after 48 repayments 1%

So if we have paid 19 payments we aren't going to be getting much back!
I'm gutted, we were so stupid not to read everything properly !!!

marshallka

kazc wrote: »

It also gives you a chart of what you can expect to b refunded:
after 6 repayments 14%
after 12 repayments 13%
after 24 repayments 8%
ater 36 repayments 4%
after 48 repayments 1%

So if we have paid 19 payments we aren't going to be getting much back!
I'm gutted, we were so stupid not to read everything properly !!!

Kazc, you will get it all back if you claim misselling here. It will take some time but get your letter in and posted. They are rip offs and you should win.

Send your letter recorded delivery and also do a copy. You then give them 8 weeks for a full and final response. If they write back and state that they did nothing wrong then you write again until either 8 weeks are up or you get a final response. Then you go the FOS.

marshallka

mlucyminx wrote: »

I actually stated that in my letter to them. Said that surely as the loan was now paid up I wouldn't have been able to claim against the insurance as there was no longer an outstanding debt so the insurance should have been cancelled and money refunded when the loan was paid up.

They said that basically the policy explained your right to cancel, but, nowhere does it say that if you pay the loan up early you have to contact them to cancel the policy.

These companies need to be issued with real fines. Fines that will hurt their pockets.

They are cashing in on vulnerable people.

I was really in trouble when I took these loans out and they know this is why people go to them. I have learn't a very harsh lesson.

The fines imposed though are not enough. They made millions out of them..

TwinsMum_2

Well I've not been on in ages, after doing well with my ppi reclaims I have reached a tricky customer GE Capital Bank who I had a Mothercare Card with taken out in 2000, I took out the card to purchase a double buggy as I was about to burts with my twins and they were offering discount with the store card. I signed up in the shop and just with a oridnary sales assistant who told me that I would need account cover to cover payments as I was about to give birth and maternity pay didn't last forever, I was not allowed the card without the option. Anyway to cut a long story short they have told me I can't claim back as it was in 2000 and they weren't part of the whatever then, so they said I could go the Finance and leasing Agency. They have sent me a copy of the agreemant with the box ticked but my point is I was told I had to tick the box to get the card so of course I did. Is that prove enough for them that I agreed to the protection, the last letter I received from them stated that she had no way of knowing what went on that day as they do not keep any records but that all her staff were trained to hand out the Store Cards. Help please.:mad:

TwinsMum_2

Well I've not been on in ages, after doing well with my ppi reclaims I have reached a tricky customer GE Capital Bank who I had a Mothercare Card with taken out in 2000, I took out the card to purchase a double buggy as I was about to burts with my twins and they were offering discount with the store card. I signed up in the shop and just with a oridnary sales assistant who told me that I would need account cover to cover payments as I was about to give birth and maternity pay didn't last forever, I was not allowed the card without the option. Anyway to cut a long story short they have told me I can't claim back as it was in 2000 and they weren't part of the whatever then, so they said I could go the Finance and leasing Agency. They have sent me a copy of the agreemant with the box ticked but my point is I was told I had to tick the box to get the card so of course I did. Is that prove enough for them that I agreed to the protection, the last letter I received from them stated that she had no way of knowing what went on that day as they do not keep any records but that all her staff were trained to hand out the Store Cards. Help please.:mad:

marshallka

TwinsMum wrote: »

Well I've not been on in ages, after doing well with my ppi reclaims I have reached a tricky customer GE Capital Bank who I had a Mothercare Card with taken out in 2000, I took out the card to purchase a double buggy as I was about to burts with my twins and they were offering discount with the store card. I signed up in the shop and just with a oridnary sales assistant who told me that I would need account cover to cover payments as I was about to give birth and maternity pay didn't last forever, I was not allowed the card without the option. Anyway to cut a long story short they have told me I can't claim back as it was in 2000 and they weren't part of the whatever then, so they said I could go the Finance and leasing Agency. They have sent me a copy of the agreemant with the box ticked but my point is I was told I had to tick the box to get the card so of course I did. Is that prove enough for them that I agreed to the protection, the last letter I received from them stated that she had no way of knowing what went on that day as they do not keep any records but that all her staff were trained to hand out the Store Cards. Help please.:mad:

Hiya twinsmum, lots more Barclays Firstplus claimers on here now!!!

Back to your question, i would say that cause they have your tick then that does not prove you actually were not missold but I do think they may be right about the FOS and GE Capital as there have been a lot on here just lately on about this company. I would certainly go to the FLA as I do know that someone got their money back through these (catinthehat if i remember right) and also wait for tiggraes opinion too. I would not give up.

marshallka

I have emailed my adjudicator and also left a message on voicemail too about my Co-op complaints. I have not had anything in writing now for over a month and its annoying not knowing where it is up to.

How long does it usually take for a complaint when it is with the adjudicator? I thought it was about 6 weeks in total. Mine has been just over a month now and no update at all only someone from their customer services rang me about my Barclays Firstplus complaint last week and then mentioned that they still had not had anything from the Co-op. I thought they kept in touch with you throughout. Also i have emailed about 5 times and not had one single response to any. These were emailed over the last month. Do they usually reply to them or at least acknowledge them? Mine has not and yet I read on here that people say they have spoken to their adjudicators and they have emailed things in and got updates??

Perhaps i would not keep emailing and calling if they gave me a letter or phone call to let me know. I have had one call and that is it and they never told me anything then only it would be late cause Co-op were not responding. I know i am being impatient but just a little update would be appreciated.

pinknico

TwinsMum wrote: »

Well I've not been on in ages, after doing well with my ppi reclaims I have reached a tricky customer GE Capital Bank who I had a Mothercare Card with taken out in 2000, I took out the card to purchase a double buggy as I was about to burts with my twins and they were offering discount with the store card. I signed up in the shop and just with a oridnary sales assistant who told me that I would need account cover to cover payments as I was about to give birth and maternity pay didn't last forever, I was not allowed the card without the option. Anyway to cut a long story short they have told me I can't claim back as it was in 2000 and they weren't part of the whatever then, so they said I could go the Finance and leasing Agency. They have sent me a copy of the agreemant with the box ticked but my point is I was told I had to tick the box to get the card so of course I did. Is that prove enough for them that I agreed to the protection, the last letter I received from them stated that she had no way of knowing what went on that day as they do not keep any records but that all her staff were trained to hand out the Store Cards. Help please.:mad:

I am exactly in the same position and received the same reply.