PPI Reclaiming discussion Part II

tiggrae

qube99 wrote: »

Please help I had a loan with Black Horse 5 years ago and I paid PPI on this loan I have written to BLack Horse and they are not playing ball and they are not accepting that I was mis-sold my ppi.

The financial ombunsman service are unable to help as black horse were not covered by them at that time.

Can anyone give me any help PLEASE

kay

arn't Black Horse part of LLoyds, if so you want to make your complaint against LloydsTSB t/a Black Horse as LLoyds will certainly have come under the jurisdiction of the FOS 5 years ago

just been on their website -it says

With the backing of the Lloyds TSB Group, Black Horse has over 50 years experience and is committed to customer satisfaction.

change your complaint and make it against LLoyds TSB Group (t/a Black Horse)

tiggrae

liznewman wrote: »

Took and Egg loan out in 2006. Was told could not have the load without PPI. We have cancelled the PPI last week. The loan has 2 years to run it was taken out over 5 years.

My question is, should the remaining repayments be minus the PPI. Meaning, would the repayments revert back to the amount they would have been without the PPI?

Not sure if I have explained that right?

Edit: Forgot to say, self employed and a pre medical condition. Was told have to take the PPI because of self employment

it should be, but rarely is - basically most loan companies say they have to pay for the insurance element to a 3rd party so they front end load the loan / ppi - which effectively means in the first few years of a loan you think you've been paying the loan & ppi off you've actually only been paying off the PPI - cancelling just means they'll recalculate to take off a small amount remaining on the PPI element. What you need to do is make a complaint for mis selling which if upheld will be repaid back to you and the loan ajusted correctly to where you would have been if you'de never been mis sold the ppi

murphy1212

Laini wrote: »

[FONT=Tahoma, Arial]We have recently received correspondence from the Financial Ombudsman Service [/FONT]
[FONT=Tahoma, Arial]regarding their review of your complaint and your acceptance of their [/FONT]
[FONT=Tahoma, Arial]adjudication.[/FONT]

[FONT=Tahoma, Arial]Their decision includes a recommendation that a full refund of the payment [/FONT]
[FONT=Tahoma, Arial]protection insurance premium plus any interest be refunded to you.[/FONT]

[FONT=Tahoma, Arial]In order to comply with this recommendation, please find enclosed an amount of [/FONT]
[FONT=Tahoma, Arial]£15,388.29 in respect of a full refund of the insurance premium and interest [/FONT]
[FONT=Tahoma, Arial]paid on the premium through the term of your loan. This amount is being [/FONT]
[FONT=Tahoma, Arial]refunded to you in order to put you in the financial position you would be if [/FONT]
[FONT=Tahoma, Arial]the insurance had not been taken, as laid out in the Financial Ombudsman's [/FONT]
[FONT=Tahoma, Arial]recommendation.[/FONT]

[FONT=Tahoma, Arial]When you settled your loan account a rebate of £4,121.10 was included in the [/FONT]
[FONT=Tahoma, Arial]settlement figure. This additional amount represents an additional refund of [/FONT]
[FONT=Tahoma, Arial]£13,021.90 to give a full refund of £17,143.00, and a refund of interest [/FONT]
[FONT=Tahoma, Arial]amounting to £1,774.54. This also includes an amount of £591.85 in respect of [/FONT]
[FONT=Tahoma, Arial]the 8% interest on £14,796.44 from the date your loan was settled to present.[/FONT]

[FONT=Tahoma, Arial]To clarify the details of the redress as set out in Mr Meredith's letter:[/FONT]

[FONT=Tahoma, Arial]a) Settlement figure paid including PPI and rebate £83,759.78[/FONT]
[FONT=Tahoma, Arial]of £4,121.10[/FONT]
[FONT=Tahoma, Arial]Total premiums paid including cost of PPI £8,390.90[/FONT]
[FONT=Tahoma, Arial]Total = £92,150.68[/FONT]

[FONT=Tahoma, Arial]b)Settlement figure assuming no PPI taken £70,614.02[/FONT]
[FONT=Tahoma, Arial]Total premiums paid assuming no PPI taken £6,740.22[/FONT]
[FONT=Tahoma, Arial]Total = £77,354.24[/FONT]

[FONT=Tahoma, Arial]c)Difference between a and b = £14,796.44 [/FONT]
[FONT=Tahoma, Arial]8% interest on £14,796.44 = £591.85[/FONT]
[FONT=Tahoma, Arial]cheque £15,388.29 _party__party__party_[/FONT][/qu

CONGRATULATIONS!!!!!!!!!!!!!!!!:T :T :T :T :T :T

Fully Deserved, enjoy, i got my acceptance letter today to sign from FP for the refund, couldn't have done all this without everyone on here.

Laini, one more thing........................................................

GET THE CHAMPAGNE POPPING:beer: :beer: :beer: :beer:

MWH1

YEOSAL wrote: »

Hi

Just to let you know, we lost in court today. The judge agreed with solicitiors that our claim was time barred as I would have known at the start that the insurance was of no use and I could have gone anywhere else for the loan. Judge said I was intelligent enough to know that I was being had and nothing had changed since I took the loan in November 2000 except that I have seen a tv programme and read some news article.

I would certainly advise caution on going to court if the claim is time barred, especially if you are in the least bit intelligent.

£415 down, but it was worth a shot. There is no justice in the world.

Hi all. Firstly, many congratulations on a hard fought victory and a bumper win for Laini :T . Inspiration, indeed, for the rest of us.

Yeosal, I've read about your news today and really am annoyed for you. The small claims court is supposed to be an informal environment where people without legal expertise can take their complaints for arbiration. Taking solicitors in to court as your representation is discouraged, yet if the defence can sit behind a desk and discuss contract law, that makes it almost impossible to fight your case. The fact that they exchanged documents the day before the case and didn't even get a slap on the wrists is disgusting.

I'm sure this Judge can plod back to his ivory towers and not have to worry about financial struggles caused in part by the manipulative behaviour of these corporations.

Yours absolutely disgusted

Yeosal - you're a star :A Have a big MSE pat on the back for being strong enough to go and fight this the way you have!

MWH1

marshallka

Tiggrae, is this ok for sending to Freedom
I did post it earlier but now deleted as done some changes myself
Let me know asap as i want to email to Freedom and Bespoke

Thank you for your letter of 25th June 2008 in regards to my complaint with yourselves. I note from your letter that you say that you are looking into our complaint at the request of Bespoke Finance. I corresponded with Bespoke Finance and in my correspondence with them I wrote that the “sale of the ppi was made by Freedom Finance (formerly Wilmslow Financial Services).”

I have taken legal advice with regards to this and if you say the loan was processed on behalf of Bespoke Finance (something we knew nothing about until we made a complaint to FIRSTPLUS about the sale of the ppi and the settlement) the off shore broker, the ppi sale was commenced in the uk by the uk firm taking the role of the broker. A processor cannot be a broker and sell insurance. This is unfair contract terms and I will contact the FSA, FOS and OFT with regards to this.

I also note upon researching of this company called Bespoke Finance that as they are based in Gibraltar, people are not protected under uk law in the same way as they would be taking advice from a broker here in the uk. This again is an unfair and misleading contract and I will also make contact with the OFT with regards to this and the lender also.

Upon taking out this loan all that we, as customers knew, was that it was Wilmslow Financial Services that offered the loan(through an advert of lowcostloans.co.uk) and they were in fact the broker of the loan also.(The ppi was added on after the application and I have yet to have actual proof of the seller of this but am lead to believe that this was Bespoke by both yourselves and FIRSTPLUS). Also FIRSTPLUS have sent me details in my SAR request where they actually state “BRKWILM “ and also refer to you Wilmslow and Freedom during conversations on the telephone as the broker. If this matter has to go to the courts then I shall also make a complaint about “negligent misrepresentation” under the misrepresentation act 1967 in that the processor acted as the broker and we were not told that the broker was actually in Gibraltar and called Bespoke Finance.

All that I have requested from you (or whoever is allowed to issue the refund) is the PPI refund and the difference of the settlement being for a loan over 120 months and the one that we had BECAUSE of the ppi over 160 months. I would also like interest added at 8% per annum as a court would award. I don’t think that is much to ask when we were not aware of who we were actually having the loan through.

If I do not hear a more favourable response in this regard within the next 28 days then I shall start proceeding under the “unfair terms in consumer contracts regulations 1999 “as “contrary to the requirement of good faith it caused a significant imbalance in the parties' rights and obligations under the contract, to the detriment of us, the consumers”. This was not” individually negotiated.

Iam now lead to believe that the commission that the broker earned from this sale was more of an interest to him than acting in the best interest of us, the customer. Again we were not informed that the broker would be receiving £850 commission for this and again would of thought long and hard of his interest in this more than acting in the best interest of us. The whole loan was misleading to us and not just the sale of the ppi. We would never have had any dealing with a company that was based in Gibraltar had we have know this at the start. I feel that the processor of the loan failed in fiduciary duty to us and failed to advise us correctly that if we had any legal recourse it would be through Gibraltar.

I have had to put a lot of effort into tracing this company after hearing that Bespoke Finance were the broker of our loan and ppi from yourself and FIRSTPLUS. I have contacted the FSA who have not heard of them and they are not registered here in the uk and the FOS have no recognition of these as well. I would have liked to have been told and given a choice as to whether I wanted to be dealing with a company from Gibraltar at the start of the process and I KNOW had I been given this choice and knowing that laws are different from the uk in lots of aspects, then I would of not gone ahead with the application. The risk element would of stopped me.

I note that the web address that is on my Bespoke letter takes me to a loan company called bespokefinanceloans.co.uk and this web page has no terms and conditions, legal and privacy or address of the actual company. I feel that this again misleads people into who they are dealing with. I will ask the FSA as to whether this is a legal form of advertising finance. The Control of Misleading Advertisements Regulations 1988 ). I don’t know much about that side of things but surely if they are carrying out business here in the uk then someone of the authorities would have them registered with them. I have had confirmation from Gibraltar that they are not at present regulated by the FSC there. Surely a company would be registered somewhere to do financial dealings? I have also found out that they are now owned by a company called FIdecs SMC also based in Gibraltar although this only took place in 2003. I will continue in this matter to try to trace any information on this company in my quest for a court hearing and have yet to contact HMRC to see if they have heard of them and where they are legally trading from. This was a suggestion from some legal advice I have now taken.

Upon looking at your website now I still feel that this is misleading where you say that you “process loans on behalf of Bespoke” but when I called you yesterday you said “you were brokers in your own right”. How would people know if they had their loans brokered through Freedom or Bespoke? I feel consumers should be made more aware that Bespoke Finance is based in Gibraltar and that if they have any legal recalls of any kind then they would have to deal with Gibraltar and not the uk. If people were made aware of this from the beginning then I don’t think that Freedom would make as much profit from their customers as they do in that fewer people would actually take their loans from you.


IF WE FAIL TO HEAR A MORE POSITIVE RESPONSE, I WILL MAKE A FORMAL COMPLAINT TO THE OFFICE OF FAIR TRADING, WHO ISSUE YOU WITH YOUR CONSUMER CREDIT LICENCE TO INVESTIGATE THE DEALINGS BETWEEN FREEDOM FINANCE AND BESPOKE FINANCE.


I look forward to an early response to my complaint and one that is more favourable to us.


Yours sincerely

tiggrae

marshallka wrote: »

Tiggrae, is this ok for sending to Freedom
I did post it earlier but now deleted as done some changes myself
Let me know asap as i want to email to Freedom and Bespoke

Thank you for your letter of 25th June 2008 in regards to my complaint with yourselves. I note from your letter that you say that you are looking into our complaint at the request of Bespoke Finance. I corresponded with Bespoke Finance and in my correspondence with them I wrote that the “sale of the ppi was made by Freedom Finance (formerly Wilmslow Financial Services).”

I have taken legal advice with regards to this and if you say the loan was processed on behalf of Bespoke Finance (something we knew nothing about until we made a complaint to FIRSTPLUS about the sale of the ppi and the settlement) the off shore broker, the ppi sale was commenced in the uk by the uk firm taking the role of the broker. A processor cannot be a broker and sell insurance. This is unfair contract terms and I will contact the FSA, FOS and OFT with regards to this.

I also note upon researching of this company called Bespoke Finance that as they are based in Gibraltar, people are not protected under uk law in the same way as they would be taking advice from a broker here in the uk. This again is an unfair and misleading contract and I will also make contact with the OFT with regards to this and the lender also.

Upon taking out this loan all that we, as customers knew, was that it was Wilmslow Financial Services that offered the loan(through an advert of lowcostloans.co.uk) and they were in fact the broker of the loan also.(The ppi was added on after the application and I have yet to have actual proof of the seller of this but am lead to believe that this was Bespoke by both yourselves and FIRSTPLUS). Also FIRSTPLUS have sent me details in my SAR request where they actually state “BRKWILM “ and also refer to you Wilmslow and Freedom during conversations on the telephone as the broker. If this matter has to go to the courts then I shall also make a complaint about “negligent misrepresentation” under the misrepresentation act 1967 in that the processor acted as the broker and we were not told that the broker was actually in Gibraltar and called Bespoke Finance.

All that I have requested from you (or whoever is allowed to issue the refund) is the PPI refund and the difference of the settlement being for a loan over 120 months and the one that we had BECAUSE of the ppi over 160 months. I would also like interest added at 8% per annum as a court would award. I don’t think that is much to ask when we were not aware of who we were actually having the loan through.

If I do not hear a more favourable response in this regard within the next 28 days then I shall start proceeding under the “unfair terms in consumer contracts regulations 1999 “as “contrary to the requirement of good faith it caused a significant imbalance in the parties' rights and obligations under the contract, to the detriment of us, the consumers”. This was not” individually negotiated.

Iam now lead to believe that the commission that the broker earned from this sale was more of an interest to him than acting in the best interest of us, the customer. Again we were not informed that the broker would be receiving £850 commission for this and again would of thought long and hard of his interest in this more than acting in the best interest of us. The whole loan was misleading to us and not just the sale of the ppi. We would never have had any dealing with a company that was based in Gibraltar had we have know this at the start. I feel that the processor of the loan failed in fiduciary duty to us and failed to advise us correctly that if we had any legal recourse it would be through Gibraltar.

I have had to put a lot of effort into tracing this company after hearing that Bespoke Finance were the broker of our loan and ppi from yourself and FIRSTPLUS. I have contacted the FSA who have not heard of them and they are not registered here in the uk and the FOS have no recognition of these as well. I would have liked to have been told and given a choice as to whether I wanted to be dealing with a company from Gibraltar at the start of the process and I KNOW had I been given this choice and knowing that laws are different from the uk in lots of aspects, then I would of not gone ahead with the application. The risk element would of stopped me.

I note that the web address that is on my Bespoke letter takes me to a loan company called bespokefinanceloans.co.uk and this web page has no terms and conditions, legal and privacy or address of the actual company. I feel that this again misleads people into who they are dealing with. I will ask the FSA as to whether this is a legal form of advertising finance. The Control of Misleading Advertisements Regulations 1988 ). I don’t know much about that side of things but surely if they are carrying out business here in the uk then someone of the authorities would have them registered with them. I have had confirmation from Gibraltar that they are not at present regulated by the FSC there. Surely a company would be registered somewhere to do financial dealings? I have also found out that they are now owned by a company called FIdecs SMC also based in Gibraltar although this only took place in 2003. I will continue in this matter to try to trace any information on this company in my quest for a court hearing and have yet to contact HMRC to see if they have heard of them and where they are legally trading from. This was a suggestion from some legal advice I have now taken.

Upon looking at your website now I still feel that this is misleading where you say that you “process loans on behalf of Bespoke” but when I called you yesterday you said “you were brokers in your own right”. How would people know if they had their loans brokered through Freedom or Bespoke? I feel consumers should be made more aware that Bespoke Finance is based in Gibraltar and that if they have any legal recalls of any kind then they would have to deal with Gibraltar and not the uk. If people were made aware of this from the beginning then I don’t think that Freedom would make as much profit from their customers as they do in that fewer people would actually take their loans from you.


IF WE FAIL TO HEAR A MORE POSITIVE RESPONSE, I WILL MAKE A FORMAL COMPLAINT TO THE OFFICE OF FAIR TRADING, WHO ISSUE YOU WITH YOUR CONSUMER CREDIT LICENCE TO INVESTIGATE THE DEALINGS BETWEEN FREEDOM FINANCE AND BESPOKE FINANCE.


I look forward to an early response to my complaint and one that is more favourable to us.


Yours sincerely

Hi, by all means send it, but I don't think it will change their position, but at least have given it a good go !!!

tiggrae

YEOSAL wrote: »

Thanks for the support, I dont feel as gutted as I thought I would though.

The solicitors provided me with their bundle of documents YESTERDAY and TODAY in the waiting area, she gave me a revised defence and a 6 page document entitled "skeleton arguement" The solicitor and the judge were talking about sections and sub sections etc of the limitation act that do not apply. I knew the section and sub sections on which I relied but this was not enough, and I eeven said that I am not a solicitor and any changes I would like to spend time reading and making notes. I did plead my case, but they went really heavily into Limitation Act and that was their defence. It turns out that is all they needed. The judge did know all about the PPI mis-selling and when summing up he said he hoped that this had now stopped as is now regulated. Yeah right!

I did state to the judge that it was surely unfair to present me with stuff so late on that I had not had time to read. He allowed it all and did not reprimand solicitors, so whatever way you look at it, the big companies win. I imagine that their legal costs would have been quite high, would have been cheaper of them to settle.

I hope no one else has to go through what I had today. When I get chance, I will write up their skeleton arguement so anyone else facing this may get some help from it.

It did not matter when I had discovered it as the main event of signing was the only event that mattered. If I had tried to claim and had this refused, the 6 years would have started from that date.

just remind me - when did you take out the loan / ppi ?

marshallka

tiggrae wrote: »

Hi, by all means send it, but I don't think it will change their position, but at least have given it a good go !!!

Tiggrae, how did you find out about the legal position of the bailiffs in Gib etc. I remember you posting it but cannot find out how, or who, you spoke to in regards to this.

tiggrae

marshallka wrote: »

Tiggrae, how did you find out about the legal position of the bailiffs in Gib etc. I remember you posting it but cannot find out how, or who, you spoke to in regards to this.

I rang and spoke to someone at my local county court to ask whether Gibraltar came under a County Courts jurisdiction, they said yet but then went onto tell me about the problem with getting an order to pay in a county court that the UK bailiffs had no jurisdiction to collect from Gibraltar

sparky0107

Evening,
I'm about to start Halifax credit card PPi reclaim, I applied on line for the card, and cannot remember if the PPI box was already ticked. Has anyone had success reclaiming this way. I have now cancelled PPI as I get paid for upto 2 years from work if I'm ill/accident/hospitalisation, also 2 years pay for death in service.

Also I have been told by GE Money, that they didn't sell me the PPI on a home loan, but loans.co.uk did, and I've read that they were fined fo mis-selling. Loan was taken out in June 2003 & repaid February 2005 PPI was for £1320 & brokers fee of £500.

Thanks in advance again for any help