PPI Reclaiming discussion Part II

dreamer33

di3004 wrote: »

Yes this would be unregulated.

When did you take this one out hun ?

2004 found this also:

Can I reclaim on unregulated PPI?


2 May 2007


In 2001 we bought new windows for our house. The windows cost £10,000 and we paid on a credit agreement. At the time we were sold a payment protection insurance policy.
CAMPAIGN: This is Money has been campaigning against rip-off payment protection insurance.
WANT TO KNOW MORE?

• EXPERTS: I can't stop my credit card cover
• EXPERTS: Why pay PPI ambulance chaser?
• CAMPAIGNS: The PPI rip-off

OTHER STORIES

• Can I get insurance for a US holiday home?
• Have we wasted money on PPI?
• A no-claims bonus for a named driver
• Is there a price on my head?
• Do we need to insure outdoor water pipe?

I am self-employed and realise I will never be able to claim on this policy. I have asked for a refund and was told that I will only be able to get about £300 back when the total premiums are £1,400.

I have written to the Financial Ombudsman Service but they said that they cannot look at my case because GE Capital, the company that the credit agreement was made with, are not covered by FSA regulation.
Is this right? GM, Herts.

Ed Monk, insurance expert for This is Money, replied: The response you got from the FOS is correct. The sale of your PPI was not regulated, even if the company that sold you the agreement was.
Regulation of general insurance sales only began in January 2005. Before this date sales were not regulated and therefore, because the policy was sold to you in 2001, you have no recourse to the Ombudsman.
The GE Capital credit agreement was regulated but the PPI sale was not. It is a shame in your case because the PPI you bought has all the characteristics that regulators are now trying to stamp out. The premiums were added onto the loan amount so that you were paying interest on them and you are self-employed so would never be able to claim. These are issues with how the product is sold.
But there might be one last avenue for you to pursue in getting your money back. I suggest you complain again to the Ombudsman but this time make clear that it is the policy itself that you are complaining about, not the sale. The policy is from an insurer called Pinnacle and they are a regulated company, and were regulated in 2001.
In your complaint, make clear that you cannot possible make use of the insurance policy because you are self-employed. Say that you regard the inability to cancel the insurance and get a reasonable refund to be unfair under the Unfair Terms in Consumer Contracts Regulations. There are no guarantees but the Ombudsman should at least hear your case. Good luck.

think this is what marshallka was saying about complaining to the insurer.

di3004

dreamer33 wrote: »

2004 found this also:

Can I reclaim on unregulated PPI?


2 May 2007


In 2001 we bought new windows for our house. The windows cost £10,000 and we paid on a credit agreement. At the time we were sold a payment protection insurance policy.
CAMPAIGN: This is Money has been campaigning against rip-off payment protection insurance.
WANT TO KNOW MORE?

• EXPERTS: I can't stop my credit card cover
• EXPERTS: Why pay PPI ambulance chaser?
• CAMPAIGNS: The PPI rip-off

OTHER STORIES

• Can I get insurance for a US holiday home?
• Have we wasted money on PPI?
• A no-claims bonus for a named driver
• Is there a price on my head?
• Do we need to insure outdoor water pipe?

I am self-employed and realise I will never be able to claim on this policy. I have asked for a refund and was told that I will only be able to get about £300 back when the total premiums are £1,400.

I have written to the Financial Ombudsman Service but they said that they cannot look at my case because GE Capital, the company that the credit agreement was made with, are not covered by FSA regulation.
Is this right? GM, Herts.

Ed Monk, insurance expert for This is Money, replied: The response you got from the FOS is correct. The sale of your PPI was not regulated, even if the company that sold you the agreement was.
Regulation of general insurance sales only began in January 2005. Before this date sales were not regulated and therefore, because the policy was sold to you in 2001, you have no recourse to the Ombudsman.
The GE Capital credit agreement was regulated but the PPI sale was not. It is a shame in your case because the PPI you bought has all the characteristics that regulators are now trying to stamp out. The premiums were added onto the loan amount so that you were paying interest on them and you are self-employed so would never be able to claim. These are issues with how the product is sold.
But there might be one last avenue for you to pursue in getting your money back. I suggest you complain again to the Ombudsman but this time make clear that it is the policy itself that you are complaining about, not the sale. The policy is from an insurer called Pinnacle and they are a regulated company, and were regulated in 2001.
In your complaint, make clear that you cannot possible make use of the insurance policy because you are self-employed. Say that you regard the inability to cancel the insurance and get a reasonable refund to be unfair under the Unfair Terms in Consumer Contracts Regulations. There are no guarantees but the Ombudsman should at least hear your case. Good luck.

think this is what marshallka was saying about complaining to the insurer.

I think this regulated and unregulated stuff can confuse some, some take it if the agreement states regulated that this can be automatically looked at by the FOS, and unregulated not, but this is not the case, for instance my Endeavour one was a "regulated agreement" as the amount was that of under £25K, however the FOS are unable to look at this for mis selling etc because they were not under jurisdiction (not covered by either GISC or FSA) when we had taken this out in July 2004.

My Nemo loan was looked at, that was an "unregulated agreement", and they were covered by the FSA.

I can see why people get confused though......

dreamer33

off out now be back later bye bye

di3004

dreamer33 wrote: »

off out now be back later bye bye

Cheers hun and catch you later, have a good day.:j . x

di3004

Looking back at my Lloyds TSB docs, the adjudicator has a copy of these regarding the ppi on the credit card, I have been looking into this further, now where it states "Homemaker", they had ticked
"Asset payment protection" as YES, where the small print states for the peace and mind of knowing you can meet your minimum credit card payments, even if you can't work due to accident, Sickness or unemployment, you can take out Asset payment protection ????? That is ticked by them !!!

I am now wondering if this are the issues raised by the adjudicator to Lloyds, because how the heck will this cover me for those reasons if an homemaker ???
Think this may help I do not know ???:rolleyes:

marshallka

dreamer33 wrote: »

2004 found this also:

Can I reclaim on unregulated PPI?


2 May 2007


In 2001 we bought new windows for our house. The windows cost £10,000 and we paid on a credit agreement. At the time we were sold a payment protection insurance policy.
CAMPAIGN: This is Money has been campaigning against rip-off payment protection insurance.
WANT TO KNOW MORE?

• EXPERTS: I can't stop my credit card cover
• EXPERTS: Why pay PPI ambulance chaser?
• CAMPAIGNS: The PPI rip-off

OTHER STORIES

• Can I get insurance for a US holiday home?
• Have we wasted money on PPI?
• A no-claims bonus for a named driver
• Is there a price on my head?
• Do we need to insure outdoor water pipe?

I am self-employed and realise I will never be able to claim on this policy. I have asked for a refund and was told that I will only be able to get about £300 back when the total premiums are £1,400.

I have written to the Financial Ombudsman Service but they said that they cannot look at my case because GE Capital, the company that the credit agreement was made with, are not covered by FSA regulation.
Is this right? GM, Herts.

Ed Monk, insurance expert for This is Money, replied: The response you got from the FOS is correct. The sale of your PPI was not regulated, even if the company that sold you the agreement was.
Regulation of general insurance sales only began in January 2005. Before this date sales were not regulated and therefore, because the policy was sold to you in 2001, you have no recourse to the Ombudsman.
The GE Capital credit agreement was regulated but the PPI sale was not. It is a shame in your case because the PPI you bought has all the characteristics that regulators are now trying to stamp out. The premiums were added onto the loan amount so that you were paying interest on them and you are self-employed so would never be able to claim. These are issues with how the product is sold.
But there might be one last avenue for you to pursue in getting your money back. I suggest you complain again to the Ombudsman but this time make clear that it is the policy itself that you are complaining about, not the sale. The policy is from an insurer called Pinnacle and they are a regulated company, and were regulated in 2001.
In your complaint, make clear that you cannot possible make use of the insurance policy because you are self-employed. Say that you regard the inability to cancel the insurance and get a reasonable refund to be unfair under the Unfair Terms in Consumer Contracts Regulations. There are no guarantees but the Ombudsman should at least hear your case. Good luck.

think this is what marshallka was saying about complaining to the insurer.

Yeah it was...

Its not anywhere near back what you would get for your misselling but at least its something and you can use the ombudsman.

I am doing exactly this and don't know if they take into consideration the interest on the policy either. If they do then I will be looking at what I want back from them in the unfair rebate...

I also read on the ombudsman site yesterday and posted that the "insurer" was responsible for the person selling the insurance so maybe you could make a complaint for the SALE of the insurance to the insurer here and bypass your Freedom Finance altogether. It may be worth a shot but you need to get moving and don't waste time again.

Who was your insurer... What does it say on your policy..

TomM_3

Originally Posted by TomM
Dear all,

Whilst in the process for reclaiming credit card charges for an Egg Credit Card I held from 2004 until 2006 (Egg loan to repay balance on the card) I noticed on my statements that I had been charged for PPI. I sent the intial letter to Egg requesting my PPI to be refunded. I have got the standard return letter from them, i.e. we sent you the terms and conditions within 14 days of you signing up for it etc etc. They have also supplied me a screen print of an account overview, this simply states that I have PPI, nowhere does it say that I requested it?!

Presently it would appear that it is a case of my word against Egg's, I'm unsure as to whether a SAR would hold the required information to prove that the box was pre-ticked or not!

I applied for the card online, however I cannot be 100% certain whether or not the box for selecting PPI was pre-ticked or whether I selected it myself.......

I don't remember taking out this policy, I was young (21) and financially naive......

Does any MSE user have any experience or success with regards to reclaiming PPI from Egg or any other provider with similar circumstances?

I HAVE had success in reclaiming £550 from PPI on an Egg loan that I had, this was taken out as a result of racking up £2400 on the credit card.......

Please help!! Many thanks!
I am just about to claim for the same thing and a SAR has not produced any evidence I requested it.
How did you win the loan PPI?


I was initially offered the loan over the telephone and was informed that the likelihood was that unless I took out PPI, I would likely to be refused the loan. As this was over the telephone, Egg didn't have the original call. Therefore as a gesture of goodwill I was refunded the PPI against the remainder of my loan balance.

Unless they have evidence to suggest otherwise, it would appear a fairly straightforward process to reclaim PPI on accounts created/amended by telephone as opposed to online.

One worthy note is that my initial rejection from Egg (Credit Card PPI) stated that I was sent out t+c's and had a 14 day cooling off period. I presume this would have been the same for an online application, so unsure how this adds weight to Egg's argument.

di3004

TomM wrote: »

Originally Posted by TomM
Dear all,

Whilst in the process for reclaiming credit card charges for an Egg Credit Card I held from 2004 until 2006 (Egg loan to repay balance on the card) I noticed on my statements that I had been charged for PPI. I sent the intial letter to Egg requesting my PPI to be refunded. I have got the standard return letter from them, i.e. we sent you the terms and conditions within 14 days of you signing up for it etc etc. They have also supplied me a screen print of an account overview, this simply states that I have PPI, nowhere does it say that I requested it?!

Presently it would appear that it is a case of my word against Egg's, I'm unsure as to whether a SAR would hold the required information to prove that the box was pre-ticked or not!

I applied for the card online, however I cannot be 100% certain whether or not the box for selecting PPI was pre-ticked or whether I selected it myself.......

I don't remember taking out this policy, I was young (21) and financially naive......

Does any MSE user have any experience or success with regards to reclaiming PPI from Egg or any other provider with similar circumstances?

I HAVE had success in reclaiming £550 from PPI on an Egg loan that I had, this was taken out as a result of racking up £2400 on the credit card.......

Please help!! Many thanks!
I am just about to claim for the same thing and a SAR has not produced any evidence I requested it.
How did you win the loan PPI?


I was initially offered the loan over the telephone and was informed that the likelihood was that unless I took out PPI, I would likely to be refused the loan. As this was over the telephone, Egg didn't have the original call. Therefore as a gesture of goodwill I was refunded the PPI against the remainder of my loan balance.

Unless they have evidence to suggest otherwise, it would appear a fairly straightforward process to reclaim PPI on accounts created/amended by telephone as opposed to online.

One worthy note is that my initial rejection from Egg (Credit Card PPI) stated that I was sent out t+c's and had a 14 day cooling off period. I presume this would have been the same for an online application, so unsure how this adds weight to Egg's argument.

Hi Tom

Are you going to continue with the SAR?

If so I was talking to another long term member on these forums last night and it was mentioned that these firms have these automated scanners that would scan your sig, and to be careful in case they do this to add to agreements, if you do decide to SAR, change your normal sig a little if you can, as long as your name is printed then that should be okay, but I did not realise this until the I read the post.

Good luck, and I hope your case will soon be resolved.;)

By rights, if you had ppi it should be added within the SAR paperwork, if this is not disclosed they have not then complied with it as they should.
If that is the case I would get in touch with the ICO. (Information commissioners office).

TomM_3

Hi Di,

Not started the SAR request yet, I've replied in writing stating I'm not happy with their response and if they do not look into my complaint further I will go to the FOS. I presume when you mean SIG scanning, this would scan for actual signature which they may 'cut and paste' onto agreements?

I think any success with this case is likely to be whether or not a PPI box was pre-ticked or not. I doubt as to whether I'd be able to claim financial ignorance/naivity on my behalf as a case for being mis-sold.

The crux of my situation was signified when I requested my statements and noticed it on there, I had NO idea I had taken out this policy!!

di3004

TomM wrote: »

Hi Di,

Not started the SAR request yet, I've replied in writing stating I'm not happy with their response and if they do not look into my complaint further I will go to the FOS. I presume when you mean SIG scanning, this would scan for actual signature which they may 'cut and paste' onto agreements?

I think any success with this case is likely to be whether or not a PPI box was pre-ticked or not. I doubt as to whether I'd be able to claim financial ignorance/naivity on my behalf as a case for being mis-sold.

The crux of my situation was signified when I requested my statements and noticed it on there, I had NO idea I had taken out this policy!!

Good luck, with a bit of luck they will deal with this and resolve it for you, fingers crossed.:beer:

Regarding sigs bit, the other member mentioned about this and said it could actually copy the signature added, it was the first time I had heard of this but its always best to be on guard, just in case.;)

I am sure the member who wrote this will not mind me adding this here, as it will warn and help others too, this was the comment:

"with modern scanners its easy to scan in your signature and print out an 'signed agreement' so either don't sign at all or sign it differently to normal so you know its a con..."