PPI Reclaiming discussion Part II

rosemahairy

Anne.Jade wrote: »

Hi all

Just got a letter from FP in response to my last one to them:-

"I am currently reviewing the information supplied to enable me to provide a full and final response to your complaint. I will contact you again, at the latest by 24 June 2008.

A full response has taken a little longer than expected and at this stage you do have the option to ask the Financial Ombudsman Service to review your complaint if you so wish. I have enclosed their leaflet which explains how you can refer to them, although I very much hope to be able to resolve your complaint without the need for you to do this."

What do you think, should I wait or go to the FOS now?

I would get the complaint in with the FOS now they taking 6-9 months to resolve complaints they told me on Friday. You can always withdraw it should they resolve it satisfactorily. All the ombudsman will do between now and 24th June is acknowledge your letter. I have been in q 2-3 months i think and had 1 letter in first month acknowledging my complaint and then a letter every 4 weeks updating the progress which is im in a q to be allocated an adjudicator. You can ring them at any time with your reference and withdraw the complaint so get in the queue its huge lol

kpwll

Hi marshallka,
Yes I did tell them the dates, he went and checked with a supervisor and I have been given a reference number and the forms will be sent out for me to sign and return with copies of all correspondence to and from LTSB.
One interesting thing that was told to me, by the FOS, is that even if they can't look into your case, they will take a complaint against the supplier. Therefore I think it would be worth everyone giving the FOS a call, even if they can't help, the complaints will mount against all the 'Evil Ones' (lol).
Hope that helps and good luck to everyone. x

Regards, Karen.

Anne.Jade

rosemahairy wrote: »

I would get the complaint in with the FOS now they taking 6-9 months to resolve complaints they told me on Friday. You can always withdraw it should they resolve it satisfactorily. All the ombudsman will do between now and 24th June is acknowledge your letter. I have been in q 2-3 months i think and had 1 letter in first month acknowledging my complaint and then a letter every 4 weeks updating the progress which is im in a q to be allocated an adjudicator. You can ring them at any time with your reference and withdraw the complaint so get in the queue its huge lol

Thanks, I will do that on Monday then, I doubt FP will resolve it satisfactorily anyway, I think they are just stalling till they give me the final no.

Ploddy

Ploddy wrote: »

From previous posts you will see I am reclaiming my PPI from Natwest, they have done some very amusing little tricks that I have dealt with. However I have come across another today, which made me wonder if anyone else has experienced.

My monthly installments go out of my Natwest current account on or near the 01st of every month. However I have just noticed that at the beginning of May the took the payment out on 01st as usual, and then returned it on 06th May.

I have got a letter today which states they are going to charge me £38 for having "insufficient funds" to pay the installment.

Hmmm....

So I've looked at my account online and found that the funds were available and sufficient between the dates of 30th April and 12th May. :rolleyes:

Are they really clutching at straws so much that they are now using tactics which I can easily defunct by logging on to my account and checking?

I am looking forward to this going to court!!

Got a letter back today from Natwest, basically saying that it was an oversight on their part and they have remedied it. Nowhere in the letter though did it say sorry or anything to the like...:mad:

money2008

I have sent my letter to barclays and added the following points

• your salesperson stated / implied that taking out the policy would assist my credit application
• your salesperson did not tell me that the policy was optional

I also phoned barclays to cancel my PPI and was informed in order to do that I would have to take out another loan and there is no guarantee the rate would be the same.
I did not include that in my letter

Shall I write to barclays again or should l wait to see their reply?

Thanks

marcus79_2

WOHOOOOO
but still unsure.

Reclaiming: ppi from 3 loans
Provider: HSBC
How much get back: £4,578.08p

sent the first letter of which got a letter back 3 weeks later saying they are looking into the matter, phoned them up after the 40 day periode saying I was on verge of sending 2nd letter but they explainned on phone there is a long backlog of ppi claims and to just wait a week or 2.

Got back from a real crap day at work to find letter from hsbc saying' in order to find this matter has not disadvantaged you in anyway we propose to offer you a total amount of 4,578.08'

so im very pleased, but im slightly concerned also, coz obviously they refunding what we paid so far to date, but if they put the total ppi on top of the loan doe's this mean they have to recalculate the loan also which should bring the cost of my original loan down also?

homer_j_3

How much was the original PPI?

They should recalculate the loan on the original debt without the PPI and then deduct all the repayments by which you have overpaid off that amount.

Ploddy

homer_j wrote: »

http://www.fsa.gov.uk/pages/Doing/small_firms/advisers/FAQ/handbook.shtml#record

Record keeping section

I've had a look at this and it states
In many cases the requirement is to retain client records for six years

It is the bit "In many cases" that I am concerned about. If HFC are stating they do not need to keep copies of my documents for 6 years, I would like to say to them Yes you do! and then quote the relevant passage from the FSA handbook.

However having waded through the various sections of the handbook it seems to either state 5 years or relevant period without confirming what the relevant period is

I really want to get this PPI back, I was told that I wouldn't get the loan without the PPI and when I had a period of sickness I tried to claim on it and was told I couldn't. When I wanted to cancel the PPI because it was useless I found myself (following a lengthy wait in their reception) being talked out of it by HFC.

Does anyone know what section of the FSA handbook refers to keeping loan agreement paperwork for 6 years, or where it states what the relevant period is.

I have checked on the HMRC website and on notice 700/21 it reads they need to keep copies of business paperwork for at least 6 years, so I have got them on this angle, would like the double whammy though.

Cheers

Ploddy

m.colak

marshallka wrote: »

A legal question here for anyone that can answer.

Can the rule of 78 be used on an insurance product?

Rule 78 is used in the calculating of the total amount repayable for early settlement and therefore as such is worked out on the whole figure including a rebate from any insurance premiums. It was out ruled in 1997 by OFT (for unregulated companies) and 2001 the FSA told other companies that they should cease using it.

m.colak

Ploddy wrote: »

I've had a look at this and it states
In many cases the requirement is to retain client records for six years

It is the bit "In many cases" that I am concerned about. If HFC are stating they do not need to keep copies of my documents for 6 years, I would like to say to them Yes you do! and then quote the relevant passage from the FSA handbook.

However having waded through the various sections of the handbook it seems to either state 5 years or relevant period without confirming what the relevant period is

I really want to get this PPI back, I was told that I wouldn't get the loan without the PPI and when I had a period of sickness I tried to claim on it and was told I couldn't. When I wanted to cancel the PPI because it was useless I found myself (following a lengthy wait in their reception) being talked out of it by HFC.

Does anyone know what section of the FSA handbook refers to keeping loan agreement paperwork for 6 years, or where it states what the relevant period is.

I have checked on the HMRC website and on notice 700/21 it reads they need to keep copies of business paperwork for at least 6 years, so I have got them on this angle, would like the double whammy though.

Cheers

Ploddy

Its under the statuate of limitations (in the same ruling as being able to claim back up to 6 years).