PPI Reclaiming discussion Part II

Ploddy

Could someone clarify something for me, and if possible put a link to the legislation which covers it.

Copied from this site on the page regarding PPI reclaiming

If your policy ended over six years ago and you do not have the paperwork: Do not start a reclaim. As lenders only have to keep records for six years, if no one has a record of the contract a reclaim is unlikely to be sucessful.

Letter from bank states

...it is your credit history that remains on file for six years from the closure of your loan agreement...

I believe I know who is correct, however I would like to be able to point my bank in the direction of where to get their facts right.

I know that my loan ended less that 6 years ago, so this means they should still have copies of the paperwork, am I correct? :question:

marshallka

Ploddy wrote: »

Could someone clarify something for me, and if possible put a link to the legislation which covers it.

Copied from this site on the page regarding PPI reclaiming

If your policy ended over six years ago and you do not have the paperwork: Do not start a reclaim. As lenders only have to keep records for six years, if no one has a record of the contract a reclaim is unlikely to be sucessful.

Letter from bank states

...it is your credit history that remains on file for six years from the closure of your loan agreement...

I believe I know who is correct, however I would like to be able to point my bank in the direction of where to get their facts right.

I know that my loan ended less that 6 years ago, so this means they should still have copies of the paperwork, am I correct? :question:

My firstplus claim is back to 2000 and we settled in 2003 and they still have records. Its 6 years from when you pay the settlement.

sarahc5388

m.colak wrote: »

Loan Amount: £14000.00 Loan Interest: £2625.28
PPI Amount: £2335.63 PPI Interest: £437.81

First Payment: 03/05/04
Last Payment: 06/12/05

Total Paid to Date: £8082.80 Settled Figure: £10269.69
Amount Remaining: £1046.23
PPI Rebate: £1362.45
Loan Interest Rebate: £1531.41 PPI Interest Rebate: £255.39
Amount Overpaid £2103.02

PPI Reclaim Report
Number of Payments Made: 20
Amount of PPI Paid: £973.18
Amount of PPI Interest Paid: £182.42
8% Interest On PPI: £288.90
Total PPI Reclaim: £1444.50

there is no formula except very long winded calculations unfortunately. I have created something that saves me time and does it all for me now but unfortunately haven't finished it yet.

Have just gone through my statements with a fine tooth - they paid me an insurance refund of £750.72 on the 22 Dec, how does this effect thing. All answers appreciated and keep up the good work:D

murphy1212

marshallka wrote: »

There is a template letter somewhere on here for a SAR. I have just tried to find it for you and can't locate it at the moment. You are certainly in a better position than some on here (myself included) with regards to dates. Don't just ask him for a copy get the full documents to back up your claim. You have to pay £10 for it and then you get everything.

There are lots on here to help you along the way. Just ask.

Good luck

one here

I know this is not a template but this is the sort of thing you send



Dear

Re: Account number:

In the first part under the Data Protection Act 1998:

Under the Data Protection Act 1984 and 1998, and including the right of subject access under these acts, please supply me with a complete list of transactions and charges relating to the above accounts held with you since they were opened.

Additionally where there has been any event in my account history over this period which has required manual intervention by any member of your staff or any other person, I require disclosure of any indication or notes which have either caused or resulted in that manual intervention or other evidence of that manual intervention in relation to my business with you.

If you are unable to supply data relating to manual intervention because there has been no such manual intervention then please be kind as to confirm this in your response to this request.


For the avoidance of any and all doubt, I reiterate:

I hereby request that you supply me with any and all historical data in your possession which, in any way appertains to me, including (but not exhaustively) a copy of the original signed executed agreement; statements of account; duplicate statements and/or print outs of all account transactions; all internal and external correspondence sent or received by you including memo’s, logs, notes, screen prints and transcripts; notes of manual interventions such as telephone attendants' notes, copies of stored telephone conversations, internal and external emails; any other information held on any/all types of media in any relevant filing system (microfiche included).

If you have disclosed any information to a third party (with or without my express permission), will you please include details of this in your reply, along with notes of any legal action passed or pending (to include a true copy of default notices, court orders and the like).

Where any information that you provide includes any charges, for example returned payments, late payment fees, and so forth, would you please advise your breakdown of actual costs (liquidated damages) incurred for each charge, and the Term or Condition on which you rely upon to claim such a charge.





I also require that you forward, within the above mentioned time scale, a true copy of the Terms and Conditions that were in force at the time my account was opened, and any subsequent amendments to those Terms and Conditions.

I enclose the statutory maximum fee of £10.00 to access ALL data held by XXXXX about myself. You should be fully aware of your statutory obligations under the Data Protection Act and that any failure to comply with this request will involve a complaint to the ICO as well as potential legal action.

You have 40 days in which to comply with this request.

This communication has been sent Recorded Delivery so I can ensure compliance on these issues within the legislative timeframes.

Yours Sincerely






Enc:
Postal Order for £10. Specifically for DPA/SAR request – not to be credited to any account.

I decided to contact Firstplus today in response to their previous letter to me.
I spoke to the man who sent out the second letter stating that basically go away but if you want to talk to us before going to the FOS please feel free.
Upon speaking to him and totally disagreeing with his findings i notified him that i was going to request a SAR, upon which he said dont do that as it will cost me £10.00 and he will send me a cd un-cripted for nothing special delivery!!
I asked him how do i know what i am sent has not been doctored to which he replied it would be more than their lifes worth due to regulations and if i went to the FOS they would receive an identical copy to me. Finally he said he has based his original decision on listening to the saleswoman's taped converstion, he said that if i find anything on the cd implying otherwise, phone him back, i have his direct number and he will escalate it to senior management!
I should receive the cd by the end of the week, so will update then

rosemahairy

Clb3718 wrote: »

Hi everyone,

Regarding the PPI, I was 17 when I brought my first car from Fords. I paid some in cash and the last £1000 i took out their credit. I was very preassured into taking this out and as a young person I accepted. I am 23 now and when I look back at the paperwork that was set up for me I was charged at 44% apr. There was also payment protection on this which I ended up paying back nearly £3000 all together. Double what I originally borrowed.

Do I have a chance of claiming for the PPI? Im not making excuses but I was a young person who was made to take out this insurance.

yes you can claim back as far as 6 years. The problem you have is like many of us and its classed as miss selling. You need to get the template letter off the main pages on this site and request a refund with interest paid plus the 8% statutory interest. They will fob you off be prepared for that but stand your ground dont give up. After 8 weeks or a final response, if you are not happy you can complain to the financial ombudsman

Anne.Jade

murphy1212 wrote: »

I decided to contact Firstplus today in response to their previous letter to me.
I spoke to the man who sent out the second letter stating that basically go away but if you want to talk to us before going to the FOS please feel free.
Upon speaking to him and totally disagreeing with his findings i notified him that i was going to request a SAR, upon which he said dont do that as it will cost me £10.00 and he will send me a cd un-cripted for nothing special delivery!!
I asked him how do i know what i am sent has not been doctored to which he replied it would be more than their lifes worth due to regulations and if i went to the FOS they would receive an identical copy to me. Finally he said he has based his original decision on listening to the saleswoman's taped converstion, he said that if i find anything on the cd implying otherwise, phone him back, i have his direct number and he will escalate it to senior management!
I should receive the cd by the end of the week, so will update then

Hi, I got my taped conversations from them without sending a SAR, make sure they send you all the conversations though because I'm convinced they held one back from me. They said it would take about ten days for them to send them but when I queried where the missing one was I got it the next day!

murphy1212

Anne.Jade wrote: »

Hi, I got my taped conversations from them without sending a SAR, make sure they send you all the conversations though because I'm convinced they held one back from me. They said it would take about ten days for them to send them but when I queried where the missing one was I got it the next day!

How did you get on once you received the taped converstaions?

Have you been paid anything?

Anne.Jade

murphy1212 wrote: »

How did you get on once you received the taped converstaions?

Have you been paid anything?

I've just sent them another letter (it's on here a few pages back), so I'll let you know. One thing I did notice from the tapes for both loans was that once I had agreed to the loan repayments, they totally changed the subject to distract me from what they and I had just said. The first girl started to talk about my daughter and be all nicey nicey and the second bloke asked me questions about what I was doing at the weekend. They must be trained to do that so you don't think about what you've just agreed to. Hope they are proud of themselves!

murphy1212

Anne.Jade wrote: »

I've just sent them another letter (it's on here a few pages back), so I'll let you know. One thing I did notice from the tapes for both loans was that once I had agreed to the loan repayments, they totally changed the subject to distract me from what they and I had just said. The first girl started to talk about my daughter and be all nicey nicey and the second bloke asked me questions about what I was doing at the weekend. They must be trained to do that so you don't think about what you've just agreed to. Hope they are proud of themselves!

Have you tried speaking to them after you received and reviewed the cd or have you just wrote the letter?

Im certainly going to speak to the guy ive been dealing with prior to taking the next step, its either going to be a quick resolution (doubtful) or drag on for months!!

sparky0107

Evening everyone,
Just a quick question, when requesting your Customer Credit Agreement is it neccesary to include a cheque for £1.