PPI Reclaiming discussion Part II

dreamer33

Just received an email from FISA have copied some of it, I did not know that FP where a member of FISA.


Because Freedom Finance have not been members of FISA for over 2 years now and First Plus also withdrew from membership this year, the Association no longer has any remit under the FISA codes, so unfortunately I am unable to assist you any further. You may want to consider taking legal advice.

To me its states because they are not members anymore even though they were in 2004 I can't be helped however because they are now regulated by FSA I may be able to take my complaint to them?

I have sent one anyway just need to wait.

di3004

marshallka wrote: »

I have just had a thought here. I am complaining against the insurer for the term in the policy of the insurance that mentions about the not in proportion bit and rule 78.... now under unfair terms in contracts it says that

Effect of unfair term
8. — (1) An unfair term in a contract concluded with a consumer by a seller or supplier shall not be binding on the consumer.

(2) The contract shall continue to bind the parties if it is capable of continuing in existence without the unfair term.

Now if the contract could not have carried on without that term... as this could not is the claim then against the person that the loan of the PPI is with... ie FIrstplus after all it is Firstplus that the contract is actually with...

I need some clarification on this one...

May have to get in touch with the Ombudsman service again... They have directed me to the insurers here... I think I also need the courts as this contract could not have carried on if that term was removed and that included the contract of the loan...

Yes I would definately check on this, you've already been pushed from pillar to post and do not need this any longer, if you mention what you have here, hopefully they will be able to confirm this to you.
Good luck hun.;)

marshallka

di3004 wrote: »

Here is some info on Cooling periods, although I think this is what it is at present, still maybe useful.;)

http://www.moneyextra.com/dictionary/cooling-off-period-004050.php

After you apply for a loan you are then supposed to left for 7 days to think about it, (called consideration period) then they are allowed to send out the contract for signing.. once signed the money is there for you from the 7th day after that..

We did not have a consideration period as there was physically not enough time.

di3004

dreamer33 wrote: »

Just received an email from FISA have copied some of it, I did not know that FP where a member of FISA.


Because Freedom Finance have not been members of FISA for over 2 years now and First Plus also withdrew from membership this year, the Association no longer has any remit under the FISA codes, so unfortunately I am unable to assist you any further. You may want to consider taking legal advice.

To me its states because they are not members anymore even though they were in 2004 I can't be helped however because they are now regulated by FSA I may be able to take my complaint to them?

This FISA business confuse me, the broker I used and the lender were also members of these, then told me they are unable to help me neither, yet the lender is still active, but not the broker.
Now I would from here hun send your copy of the email you received from FISA to the FOS and see what they say about this.

Just be careful that FISA are not just saying this just because the firm are now regulated by the FSA.;)
In case you get a reply from the FOS to say they were not when you had taken this out, that is the annoying part about it.....
Good luck.

Edited to add something lol, I note you say FSA not the FOS, sorry lol.x

dreamer33

marshallka wrote: »

I have just had a thought here. I am complaining against the insurer for the term in the policy of the insurance that mentions about the not in proportion bit and rule 78.... now under unfair terms in contracts it says that

Effect of unfair term
8. — (1) An unfair term in a contract concluded with a consumer by a seller or supplier shall not be binding on the consumer.

(2) The contract shall continue to bind the parties if it is capable of continuing in existence without the unfair term.

Now if the contract could not have carried on without that term... as this could not is the claim then against the person that the loan of the PPI is with... ie FIrstplus after all it is Firstplus that the contract is actually with...

I need some clarification on this one...

May have to get in touch with the Ombudsman service again... They have directed me to the insurers here... I think I also need the courts as this contract could not have carried on if that term was removed and that included the contract of the loan...

I'm a bit confused here sorry

marshallka

dreamer33 wrote: »

Just received an email from FISA have copied some of it, I did not know that FP where a member of FISA.


Because Freedom Finance have not been members of FISA for over 2 years now and First Plus also withdrew from membership this year, the Association no longer has any remit under the FISA codes, so unfortunately I am unable to assist you any further. You may want to consider taking legal advice.

To me its states because they are not members anymore even though they were in 2004 I can't be helped however because they are now regulated by FSA I may be able to take my complaint to them?

I have sent one anyway just need to wait.

These companies can be members of anything and then when the going gets tough withdraw and then you have no recourse. This is what i was told.

This is so wrong..

di3004

marshallka wrote: »

After you apply for a loan you are then supposed to left for 7 days to think about it, (called consideration period) then they are allowed to send out the contract for signing.. once signed the money is there for you from the 7th day after that..

We did not have a consideration period as there was physically not enough time.

Arh that's what is it then ?;)

Okay, this was about the 23 July they first stated the application, just checked some of the underwriters click paperwork, then the forms came out to sign with a welcome letter, and signed 30th July, monies in account 3 Aug, but here the money did not take 7 days..but sooner.....:rolleyes:

marshallka

dreamer33 wrote: »

I'm a bit confused here sorry

An unfair term is within a contract and the contract is not between yourself and the broker, its between you and the LENDER. That is who signs the contract.

I am claiming my unfair term against the insurer (being whoever it was but have been told to write to Cassidy Davies by Firstplus but waiting for the ombudsman to deal with this and have told to be patient). My unfair term means if I win then the whole contract was not individually negotiated as the contract would not survive without the term...the contract that was signed was the "LOAN CONTRACT" between Firstplus and us.

di3004

marshallka wrote: »

An unfair term is within a contract and the contract is not between yourself and the broker, its between you and the LENDER. That is who signs the contract.

I am claiming my unfair term against the insurer (being whoever it was but have been told to write to Cassidy Davies by Firstplus but waiting for the ombudsman to deal with this and have told to be patient). My unfair term means if I win then the whole contract was not individually negotiated as the contract would not survive without the term...the contract that was signed was the "LOAN CONTRACT" between Firstplus and us.

In my opinion Marshallka hun you do have a strong case here.
I hope they take this seriously and deal with this for you, its also disgusting the way you way treated for one and that is without all the other unfair issues here.

dreamer33

Just found this on FF website:

Consideration Period:
Secured loans up to the value of £25,000 are regulated under the Consumer Credit Act 1974 (CCA), and therefore require 2 consideration periods during the application process.
Also known as a cancellation period, the consideration gives the client the right within 7 days to reconsider a credit agreement or loan offer and refuse in writing the agreement on offer without obligation.
Initially, the client will be sent an advance copy of the loan agreement and during this period the client must not be directly contacted by the lender or broker until after the 7 days have passed. Failure to comply with these regulations will result in the loan application being void and the loan application will need to made again and new documents issued.
However if the client is happy to proceed with their application they can make contact themselves before the consideration period has finished in order to speed up the process.
At the end of the consideration period, the client will then be sent signature copies of the loan agreement and will have a further 7 days during which the person arranging the loan is not allowed to contact the client, although the client may initiate or request contact.