PPI Reclaiming discussion Part II

marshallka

I have now found the actual letter that we sent to the Co-op which states that we had four loans and were missold on each occasion although this was sent after the first complaint to them of the 15th July. It was actually sent to them on 1st August and they sent our their final response on 6th August. I think they did not bother to read this letter at all. It is now 11+ weeks and they still have not replied so I feel that the FOS should now look into all these others. I am sorry for keep posting here but they sent their final after I had raised the issues of these other loans and it was not my fault that they did not read this.

Thank you for the copies of the loan agreements sent out late but now received. I first requested these agreements by telephone 3 times prior to this and waited about 7 weeks for them to arrive.
I note that we had 4 loans with you and each one had a single premium insurance attached to it. We feel that we were missold these policies on each occasion.
Firstly during the time of the loan agreement 9th July, 1997 Mr A was self employed and would have had trouble making a claim on this policy. During the agreement 17th August, 1999 he was now employed but had only been employed for six months and was not asked about the fact that he could go back to self employment at any time which he had been for 10 years previous to that. I feel that we have paid to the bank over the years a total of £8801.52 (plus interest) in loan insurance which we had no idea were single premium insurance policies and did not know until this day they were paid as a lump sum and interest was being paid on the term of the loan. We were not asked any questions about wanting these policies and what would have been excluded from these policies (ie medical questions) if we tried to make a claim. We did not know that we could buy this insurance elsewhere or add to our existing policy of income protection insurance which was payable as a premium monthly with NO interest and we could reduce/increase and cancel to suit our needs. We feel these policies sold to us, certainly did not meet our needs in any way. We feel these policies induced us as reasonable people to more debt at a time when our debt was a problem and therefore they were sold for the profits of the bank and not the needs of us, the customers.


Does this sound like I have actually complained about all the loans we have had with them.

Anne.Jade

marshallka wrote: »

I have just re read the letter from the adjudicator this morning and it reads

You compliant is about the sale of payment protection insurance on a loan account number ***** which commenced 10th April 2001 and settled 23rd July 2003.

Co-op bank have now told us it would be prepared to pay the following in redress in full and final settlement as a goodweill gesture.

Calculate the amount the customer paid in total in respect of the loan including any fees and penalties as well as interest and repayments and reflecting any premium rebates allowed on cancellation.

Claculate the amount the customers would have paid in total had the original loan been taken out without the additional borrowing to fund the PPI

Pay the customer the difference between the two and 8% statutory interest.

You now need to consider this offer. When doing so, you may wish to bear in mind that you have raised an issue with another loan in 1997. We would not normally expect the bank to have retained documents for that length of time. Further in relation to other loans you will need to have alerted the bank that you wish to complain about them before we are able to consider them. I do not consider it is appropiate to raise them under this reference if the bank has not had the opportunity to deal with this complaint. If you raise the matter and you are not happy with the banks response you can then raise a seperate complaint.

This is another mess up by the FOS here for not responding to emails or letters and having to change adjudicator. Can someone please read this and let me know if you can understand this mess and whether they can also. I was told earlier by my new adjudicator that he thought I had not given the co-op a chance to look into this. I told him I had and that all loans were the same account number and he then said he would be happy to now request a final response from the co-op. (whatever that means)....

Have i made myself clear here do you think. Sorry for this long one


I have now had time to properly read your letter of the 14th October and wish to raise a number of issues.

My original complaint to the co-op was of a loan taken out in 2002 and ended in 2004. After sending the letter to them I then received copies of all the other agreements for the other loans. These related to 1997, 1999, 2001.

I then wrote and added to my complaint to the co-op on the 1st august, 2008 (copy already with you as previous adjudicator read this back to me) that I was not only unhappy with the sale of the loan of 2002 but also stated I wanted to complain about the other loans too. (being 1997, 1999 and also 2001)

I then received a reply from them dated 6th August, that my complaint about the loan of 2002 was not being upheld and that was their final response. I then sent the complaint into you on that date.

I added on the complaint form this was in regards to a loan that was taken out in 2002 and settled in 2004 but in the notes I attached that I had previous to this had 3 more loans (total being 4 in all) and that I had sent another letter to them about these but they had dismissed the first complaint and not bothered to ackowledge the one about the others too. I sent a copy of the letter I had sent to the co-op too.

The adjudicator then called me and asked if i had given the co-op a letter about these other loans and I stated that I had written on the 1st August but they had not bothered to reply to it. He then asked me when i became aware of this misselling and I stated only recently with the media attention. He then told me that he needed to request things from the co-op.

I then emailed and called about 10 then (over a period of 5 weeks) in all and left messages asking if I needed to send in seperate complaints for each of the four loans. I was not replied to and this went on from the 11st September, 2008. I then assumed that all four loans were being investigated for the misselling. Previous adjudicator had said he was satified that I had made the complaint to them about all four.

I rang yesterday and asked why I had not heard anything from my complaint and was told that the adjudicator had not been in again since the time he spoke to me and that this would be allocated to someone else. I again asked if all four loans were being looked into and was told that "yes" if you have mentioned all four.

Today I have received this letter from yourself stating that the co-op have offered as goodwill to repay the loan of 2001. I now looked back at my letters and if this is the case then this loan was not in my first complaint to them. It was actually the 2002 one that I first complained to.The one for 2001, 1999 and 1997 were added in my letter of the 1st August so they have in fact ackowledged the letter to you.

It is now about 11 weeks since I have complained about all four loans and I think that is plenty of time for them to have responded to this by way of a final response and I feel that to give them more time would be unfair. I spoke to you today as you thought that I had not put in a complaint about all four loans to the co-op and I have done already so I ask that all these loans are looked into on this complaint. The total amount that the co-op have taken from us in PPI is about £8K+ with statutory interest and we feel we have been deprived of this money. All the loans were sold to us with the PPI on them and this was NOT an option at the time.

Can you please let me know by return that these are now being looked into at your earliest. If you still feel that these need to be sent in seperate then please let me know as I was told by previous adjudicator that as long as I had complained about all four then they would be looked into on one complaint. (AND I HAVE - THE LETTER IS ALREADY WITH YOU and i have all the documents relating to them - I have today sent all agreements to you too by email earlier)

The reason why this was further complicated was that I only had one agreement from 2002 for the last loan with the Co-op. I requested the other agreements and each time I telephoned someone told me that they had the agreements in front of them and that there was NO PPI applied so I would not be able to complain about something that was not on the agreement. It then took them over 7 weeks to actually send these out to me and I knew that PPI had been applied to each one. I just needed the proof. I was held back on my complaint because of this.

The final response that they gave me was a week after my second letter which stated all four loans and like I say they have not replied since. They dismissed the complaint for the loan of 2002 and did not even bother to "ackowledge" my other complaints. That is not my fault. I did give them chance to.

Please can you confirm receipt of this and that you will now accept that the co-op have had time to look into my complaint of FOUR loans taken out with them each with added PPI single premiums.




Do you think i will have to raise another complaint as the "gesture of goodwill" is for the second lot of loans i complained about....my original one was the 2002 one. SO surely co-op know this is one complete complaint as they have replied to the FOS with this.

Hi Marshallka

Can I send you a PM please?

Anne

marshallka

maxdp wrote: »

Ok well accept them one at a time as they make the offers. There is not saying why they offer them in the order that they do just knock them off one at a time. Tick the box and go on to the next one. In my humble experience with FOS they do not push or sort out they are like counsellors they just mop everyones brow and try to keep the peace. Am still waiting for mine to be sorted but now take a laid back attitude cause I know whatever stress I get in it is not going to make any difference.

I say that but just wait till I get pi...d off again I shall be ranting and raving on here.:eek:

Am not going to PM cause you know what I am going to put in it but do not have concrete evidence at moment to back it up so am not going to advertise.

It actually states that if I accept it it is in full and final settlement of my complaint with the co-op bank???

marshallka

Anne.Jade wrote: »

Hi Marshallka

Can I send you a PM please?

Anne

Fire away please....

jacey45

Can you help? We took out a mortgage payment protection policy with Alliance and Leicester in 1989 and were told by the salesman that we would have more protection with this policy and that we could cancel our existing life assurance policy because the new policy had a life element included.
After my husband died the family were told that the policy had no life element.
Later we tried to ask the financial ombudsman to take up my case but was told that because it was pre 1990 there was nothing they could do.
After reading that the Alliance and Leicester had a massive fine for mis selling PPIs do you think I should take it up again and if so any ideas where I could start.
I had to sell my home because I could not afford the payments and I will shortly have to move into social housing very shortly because I cannot afford to have my home any longer.
It makes me angry because I still have the original policy which would have paid off the whole of the mortgage and it was only because Alliance and Leicester lied about what was included in a policy that I have been put in this position.
My husband paid between £20 & £35 a month every month since 1989 until June 2004 and it was all for nothing.
Please Help

maxdp

marshallka wrote: »

It actually states that if I accept it it is in full and final settlement of my complaint with the co-op bank???

Marshallka that is standard procedure, have not read your post before this but all you are saying is that you are accepting this one to the terms and conditions laid out by the ombudsman. If Co op do not sort out their figures as per the FOS then you can go back to negotiate. This is what I have done. If your agree with workings out of the one complaint as set out in the figures or workings out e.g. to take you back to your position if PPI was not added plus 8% then sign it.

di3004

jacey45 wrote: »

Can you help? We took out a mortgage payment protection policy with Alliance and Leicester in 1989 and were told by the salesman that we would have more protection with this policy and that we could cancel our existing life assurance policy because the new policy had a life element included.
After my husband died the family were told that the policy had no life element.
Later we tried to ask the financial ombudsman to take up my case but was told that because it was pre 1990 there was nothing they could do.
After reading that the Alliance and Leicester had a massive fine for mis selling PPIs do you think I should take it up again and if so any ideas where I could start.
I had to sell my home because I could not afford the payments and I will shortly have to move into social housing very shortly because I cannot afford to have my home any longer.
It makes me angry because I still have the original policy which would have paid off the whole of the mortgage and it was only because Alliance and Leicester lied about what was included in a policy that I have been put in this position.
My husband paid between £20 & £35 a month every month since 1989 until June 2004 and it was all for nothing.
Please Help

Hello there
And I am very sorry to hear of your beloved hubby and then this about the ppi.

I am not certain what to say about this really hun but maybe someone else will have the right guide here for you, however, how long ago was it when you tried to take up this complaint with the FOS ?

And yes A & L were fined just recently for mis selling, but I am aware its from a certain year, 2005 onwards I think. (although like most of these finance firms, they were all mis selling before those dates/years).

But yet it may still be worth finding out more about this, now that this has come to light.;)

I hope someone can give you some guidance here, but there may be other ways around this, hopefully someone will come along who have actually dealt with these issues before.

I wish you all the luck in the world and hope you get through this.;)

Di.
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maxdp

Hi see what you saying put on the form that you only accept account No........ as stated for that one offer. Put it on the form that you have three others that have not been settled. They can accept that or not at least everyone is then clear.

Have to sign off now. Kids homework to whip into shape and rooms to tidy:rolleyes: theirs not mine. Will check in tomorrow.

It will be fine I am sure;)

Anne.Jade

jacey45 wrote: »

Can you help? We took out a mortgage payment protection policy with Alliance and Leicester in 1989 and were told by the salesman that we would have more protection with this policy and that we could cancel our existing life assurance policy because the new policy had a life element included.
After my husband died the family were told that the policy had no life element.
Later we tried to ask the financial ombudsman to take up my case but was told that because it was pre 1990 there was nothing they could do.
After reading that the Alliance and Leicester had a massive fine for mis selling PPIs do you think I should take it up again and if so any ideas where I could start.
I had to sell my home because I could not afford the payments and I will shortly have to move into social housing very shortly because I cannot afford to have my home any longer.
It makes me angry because I still have the original policy which would have paid off the whole of the mortgage and it was only because Alliance and Leicester lied about what was included in a policy that I have been put in this position.
My husband paid between £20 & £35 a month every month since 1989 until June 2004 and it was all for nothing.
Please Help

I don't think mortgage payment protection is the same as PPI for a loan. I think you should try and contact the local Citizens Advice Bureau or go to a solicitors that would give you a free consultation. Ring round local solicitors and explain the position and see what they say. I will look it up more for you tomorrow and post back your options.

di3004

maxdp wrote: »

Hi see what you saying put on the form that you only accept account No........ as stated for that one offer. Put it on the form that you have three others that have not been settled. They can accept that or not at least everyone is then clear.

Have to sign off now. Kids homework to whip into shape and rooms to tidy:rolleyes: theirs not mine. Will check in tomorrow.

It will be fine I am sure;)

Brilliant idea, if Marshallka just writes accepting for loan Acc XXXXXXXX then that is for that one only, as I do think anyway they treat these as complete separate loans.;)
(Marshallka can always add a bit of a note to say other 3 waiting to hear).;)

Have a good night maxdp, catch you tomorrow.

Di.
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