PPI Reclaiming discussion Part II

marshallka

tiggrae wrote: »

THE SUPPLIER AS THE CREDIT GRANTOR'S AGENT.

1.7 Frequently, the supplier is the only person a customer has any contact with during negotiations. He provides information about the credit terms as well as about the goods, land, or services being financed
by the credit. In this case (if it is a regulated agreement), under section 56 of the Act the supplier is taken to act on the credit grantor's behalf - as his agent - as well as his own. In effect, this makes the credit grantor responsible for the negotiations as if he had conducted them himself. This is an addition to any responsibility he may have under section 75.

HOW EQUAL LIABILITY WORKS
1.8 Although section 75 is concerned with breach of contract or misrepresentation by a supplier (on goods, land or services financed by credit), it does not itself provide grounds for a claim against that supplier
by a customer. (Such action must be taken under other law, such as the Sale of Goods Act or the Misrepresentation Act.) But if the customer has a claim against the supplier, under section 75 he has a like claim against the credit grantor. He can choose whether to sue the supplier, the credit grantor, or both, for the full amount of the claim. In most cases, it is sensible to claim from the supplier first if he is still in business.

this is the relevant section - I think this could be used as an arguement to get the FOS to look at the complaint against First Plus as the Credit Grantor rather then the Supplier (freedom finance or bespoke) if you win then FP have the option of regaining their money from Freedom or bespoke

My complaint with the FOS is about Firstplus and not Freedom Finance. Its about unfair rebate but i have mentioned the ppi bit too. Have to wait and see. I have now (in the middle of ) drafted a letter to FIrstplus about this again and i will post it later for you to all see before i get it sent. thanks for this everyone, i don't feel so alone now:D

tiggrae

marshallka wrote: »

My complaint with the FOS is about Firstplus and not Freedom Finance. Its about unfair rebate but i have mentioned the ppi bit too. Have to wait and see. I have now (in the middle of ) drafted a letter to FIrstplus about this again and i will post it later for you to all see before i get it sent. thanks for this everyone, i don't feel so alone now:D

Hi Marshallka, this is what I've just drafted from one of my claims for mis selling against first plus - sold through Freedom / Bespoke


The Claimants took out 3 loans with the Defendant (the Credit Grantor*) (A/c no.s xy & z), upon applying for the facility the Defendants Supplier / Agent did make the following Misrepresentations to the Claimant regarding details of the loan facility thereby, inducing them as reasonable people, into a Contact for the purchase of separate Payment Protection Insurance Policies, under the Misrepresentation Act 1967 this constitutues Negligent Misrepresenatation:

· The loan agreement with First Plus, arranged through Freedom Finance, had a Payment Protection Insurance Policy included automatically on the agreement, the claimants neither requested nor wanted such a policy. We did question this at the time but were informed it was compulsory on this type of Loan Facility.

(*Under section 56 of the Consumer Credit Act 1974 (‘CCA 1974’), the supplier is taken to act on the credit grantor's behalf - as his agent - as well as his own. In effect, this makes the credit grantor responsible for the negotiations as if he had conducted them himself – therefore, as this is an Action brought under the Misrepresentation Act 1967, under Section 75 of the CCA 1974, we the Claimants name the Credit Grantor as Defendant. )

marshallka

Oops. My letter has gone onto 4 pages so cannot post it here but at least i have had my say. I will post below
With reference to your letter about the mis sold Firstplus PPI policy I now write to say that under section 75 of the CCA 1974 you are equally responsible as the broker of the misrepresentation of the sale of my policy.
I have corresponded with Freedom Finance who have in turn sent my complaint to a company called “Bespoke Finance” whom I have never heard of. This company has then given me a final response saying that they did not have to be regulated and I feel cheated by this whole thing. I have certainly never had no dealings with this company who are based in Gibraltar. I may have had dealings with Freedom Finance but upon looking at proper documented evidence I note that the first name of any financial advisor from receiving my SAR mentioned a company called “lowcostloans.co.uk”. I have tried to find out anything about this company and it apparently is linked to Freedom Finance.
http://www.lowcostloans.co.uk/bankhall/_popups/legal_information.asp
I do not know why I have been directed to a company called Bespoke Finance and feel again mislead by yourselves as there is, and was no mention of this at the time I took out my loan.
I took out a loan and the ppi was added as a condition with no option and I have listened to all calls you have sent to me and I actually state in a telephone call that I received no documents of the rule 78 or the ppi. I was not explained anything about this policy and certainly would not have taken out a policy for 5 years on a 13 year plus year loan knowing this was front loaded and also that I would being paying interest on this for the full term. I was not asked for any medical details with regards to the ppi. I was mis sold the ppi and want to make a claim as I was not sold this in utmost good faith. I have also sent a complaint off to the FOS regarding the unfair rebate and there are quite a lot of discrepancies that I have found upon receiving my SAR , that was sent out in 3 separate parts when I asked in the beginning for “all documents to be sent together”. I have also stated that the whole set up of the loan was very misleading as I applied (proof of which is on the application with the SAR) for a loan of £17,000 with no ppi and over 10 years with repayments of £280 per month. This was dated on the 18th December, 1999 (and remember this was all done through the post) and my actual agreement was dated 6th January,2000. (Taking into account the Christmas holidays) My actual agreement was for a loan over 160 months (not being 10 years) and had a ppi amount added. (The repayments still being £281 per month). I find no evidence that this was myself that asked for this to be added and even on the application there was some “I/me” questions about receiving information with regard to ppi and they were left un-ticked or crossed as I DID NOT ask for this and so did not read any documents. (so how can I have had time to read the documents before actually entering into the agreement?). The tick on the box for ppi on the application is not ours and is completely different and done by whoever filled in the words “mortgage business”. We were not given any documents at this time and we have not filled out the details below in the application to say we have. I remember querying this at the time of the loan and was told it a condition. I/we left the box for the ppi on the application blank. It stated ppi for “one” or “both” (note no option for “not required”) and then someone ticked the box for both.
Someone sold me this policy at either “Firstplus” or “Freedom Finance” and neither want to take the responsibly and I am therefore taking this matter to court if the FOS cannot help and feel strongly about the whole matter. I complained about this numerous times during the loan long before anyone had started the ppi reclaims and it was only then that this came to my attention and was bought to the front of my mind. We have suffered dearly since this loan and are still finding it difficult to get on top of our finances. We did not know about the early settlement rule 78 either as no documents were sent as with the ppi. I trust this will be dealt with by whoever is able to deal with these matters and that we can come to a full and final conclusion. You allowed Freedom Finance to do this deal and are therefore responsible for their actions equally. (Section 75 CCA 1974) The ppi part on the loan agreement is typed in by yourselves and not filled in by me. We did not want this adding to our loan but it was sold alongside (a Firstplus policy) and therefore we were misinformed about the whole loan. Also the way in which it is added onto the agreement included in the loan total is not right and I have asked that the FOS investigate this too. I only wanted a fair rebate on the loan and the ppi refunded. I feel you have failed to investigate my complaint in a proper manner. You did not even know an address for Bespoke Finance, a company which you allow to sell your loans and had to forward this to me in writing. I feel totally mislead and misrepresented. I wanted a loan for £17,000 over 10 years with repayments of £280 and that is the position I will be asking to be put back into. (THAT IS WHAT I APPLIED FOR). This would mean a refund of all ppi paid and then a fair settlement as if i had taken my loan out as agreed and made the 38 repayments on a loan of £17,000 over 10 years . This is the position I would have been in had I have got my original loan of £17000 over 10 years with no ppi. Please note I have sent a complaint in to the FOS about you using the rule 78 to calculate my settlement as in the “OFT Non Status Lending document of 1997”, use of the rule 78 in the non status lending market (as we were as we could not of got this loan otherwise on the high street and Firstplus were sub-prime lenders – if we could of got this loan elsewhere we would not of secured it to our home. Firstplus advertised at the time that they would loan up to 125% of the value of your property) was deemed unfair and oppressive as it produced a settlement figure excessive relative to the amount borrowed and repayments made. I think this was unfair terms in contract regulations and have advised the FOS of this. My claim uses the rule 78 and I would like to say that I still have to have guidance on this from the FOS as to whether you were fair to use it, if this is upheld by the FOS then my claim will result in a new calculation amount using a fairer method of settlement.
Unless you can provide documented evidence of me asking for this ppi and that my loan be taken out over 160 and not the 10 years I originally asked for then this matter will be dealt with by either the FOS or the courts. I know I signed an agreement but the whole way it was dealt with was not professional in that I applied for something completely different and in a matter of 14 working days I received a document for signing with the same repayments as I applied for but over 160 months instead of 120 months because of this ppi. I was mislead that I could still pay my affordable amount of £280 but I had to have it over a longer length of time because of this ppi. We took this loan out in good faith and were misrepresented on this matter.
Upon applying for the facility the seller (whoever it may be) did make the following misrepresentations to us regarding details of the loan facility thereby inducing us as reasonable people into a contract for the purchase of separate ppi. Under the misrepresentation act 1967 this constitutes negligent misrepresentation.
We neither requested nor wanted this policy and it was included automatically on the agreement. Nothing was explained about this policy at the time and had it been then we would of not taken this out as it did not meet our needs.
Under section 56 of the Consumer Credit Act 1974 (‘CCA 1974’), the supplier is taken to act on the credit grantor's behalf - as his agent - as well as his own. In effect, this makes the credit grantor responsible for the negotiations as if he had conducted them himself – therefore, as this is an Action brought under the Misrepresentation Act 1967, under Section 75 of the CCA 1974.
I now give you 28 days for a response and payment, if not I will take the matter to court myself if the FOS do not help in this situation. A copy of this letter has been sent to the FOS in support of my complaint.

jac227

does anyone know if welcome finance did ppi.
i took my loan for 10,000 in 2004 but paid it all back in 2006.

and it was a joint loan with my ex husband i paid it of when i took the house over that it was secured on so not sure what to do
can anyone help. not good at these things thanks....

sarahc5388

jac227 wrote: »

does anyone know if welcome finance did ppi.
i took my loan for 10,000 in 2004 but paid it all back in 2006.

and it was a joint loan with my ex husband i paid it of when i took the house over that it was secured on so not sure what to do
can anyone help. not good at these things thanks....

do you have all the paperwork regarding the loan? it should state on there whether you had PPI. if you don't have any paperwork you need to obtain it all using a SAR (subject access request), send your request off with a cheque for £10 and they have to give you all the records for the account, hope this helps, It takes time but read through as many of these posts as you can - you will learn so much (as i did) and everyone on here is really helpful - as we all want the same thing.

alleybabes

M colak i have received a letter telling me hfc want to put the judgement by default aside, they told me they will contact me with a date for the hearing and it will be in my home district, i have a copy of my agreement with them and they are saying i signed for the insurance which im not denying my argument is i felt pressured into it and led to believe i wouldnt get the loan as it was 5 years ago and we had a bad credit record , it is basically my word against theirs isnt it though? how can i prove anything?

jadest

Hi sorry to sound a bit thick but, I know some people can try to claim there PPI back through the FOS unless before a certain date. What is that date? And if you desperately need the money back quicker that going through FOS is court quicker and can you go through court insteed of FOS if you so choose? ANd finaly how I would start putting a case together to go to court. I know I would have to fill in the On-line claim but what would I put in it to help me with my claim? I know that all sounds confusing but I it will go that far as 2 of the companies are adament they will not give me a penny back. One said I ticked box on internet form and was told it was optional and they have tape to prove it. I have asked for SAR and tape but to be honest it is doubtfull that I will get anything

tiggrae

jadest wrote: »

Hi sorry to sound a bit thick but, I know some people can try to claim there PPI back through the FOS unless before a certain date. What is that date? And if you desperately need the money back quicker that going through FOS is court quicker and can you go through court insteed of FOS if you so choose? ANd finaly how I would start putting a case together to go to court. I know I would have to fill in the On-line claim but what would I put in it to help me with my claim? I know that all sounds confusing but I it will go that far as 2 of the companies are adament they will not give me a penny back. One said I ticked box on internet form and was told it was optional and they have tape to prove it. I have asked for SAR and tape but to be honest it is doubtfull that I will get anything

it really does depend who the loans were with as to the date they came under the FOS jurisdiction, who are they with I do know a lot of them - court would be quicker but you have to get your particulars of claim absolutely right in respect to the legal arguements - so although slower the FOS is simpler

tiggrae

alleybabes wrote: »

M colak i have received a letter telling me hfc want to put the judgement by default aside, they told me they will contact me with a date for the hearing and it will be in my home district, i have a copy of my agreement with them and they are saying i signed for the insurance which im not denying my argument is i felt pressured into it and led to believe i wouldnt get the loan as it was 5 years ago and we had a bad credit record , it is basically my word against theirs isnt it though? how can i prove anything?

Are you claiming Negligent Misrepresentation under the Misrepresentation Act 1967 ?

marshallka

tiggrae, can you look at my letter and let me know if anything is wrong. I bet there is lots. I have also added what you quoted and the acts it applies to. I have put it on the page before. Quite long but this is my last try before the courts if the FOS will not help.