PPI Reclaiming discussion Part II

tiggrae

tiggrae wrote: »

I'd take out the bit about 'I purchased from you' you're claiming for mis selling either put you were 'sold' or mis sold the policy.

it's not so much is the reason good enough, if you believe the policy was mis sold and that's what happened then yes it is - you can't add things in if they didn't happen

marshallka

tiggrae wrote: »

I would suggest you consult a solicitor, you can usually get a free hour's worth of advice if they think they're going to get work from you - but you need to be VERY clear what you're asking - ie Freedom processing invalid information in respect to earnings to get you a loan you clearly couldn't afford - was this fraudulent and does it override the Statute of Limitations - (also if they are only the processors, can they be held accountable or is it bespoke as the self proclaimed brokers that need to be charged with fraudulent behaviour) otherwise your claim could be struck out just like Yeosal for being statute barred.

I want to know why Firstplus hold these details and where from as they CERTAINLY were not from us. We gave correct details. Also if this was false information then it needs looking into. ICO say it could be an admin mistake but who knows and yes, i will probably never prove it. I am hoping that they will see these documents and realise i have a case and pay up the ppi and difference between the settlement of 160 months and 120 months. I don't want anything that anyone else is not asking for. But if they want a fight about it then i will fight and i WILL be very clear as i will ask for legal help and let them word it for the court from evidence i hold. If i am barking up the wrong tree then why have they got this wage address???? I don't want the whole loan voided/unenforced etc but i want what is FAIR. They are not being proper, right or fair.

chrismoney1800

tiggrae wrote: »

it's not so much is the reason good enough, if you believe the policy was mis sold and that's what happened then yes it is - you can't add things in if they didn't happen

Thank you... oh no I was mis-sold. Just I ment like are they worded correctly.

I just have no hope really! I will never get any money back, people wanting to give me money. Bleh! That will never happen!

Thanks tiggrae.

Blodders

tiggrae wrote: »

If you've been unlawfully deprived of monies, the monies should be paid back to you in the amount + interest of what you've paid and the remainder of the ppi payments removed from the loan- Re-read what the FOS said in their letter to you, did you stipulate on your complaint form to them how you wanted them to put things right - what exactly did you sign for on the FOS acceptance form

Thanks Tiggrae.

The FOS don't make themselves crystal clear on this issue and i didn't specify how i wanted monies repaid on the original FOS complaints form.

This is what the FOS wrote:

Having carefully considered the merits of your complaint, we contacted the business explaining that in out view the complaint should be upheld. We recommend that the business should pay redress with the intention of putting you closely as is practical in the position you would have been in had the PPI policy not been sold. In order to do this we recommend that the business should:

1. re-arrange your loan by writing off all amounts outstanding in respect of the borrowing for the PPI premium, including any interests and charges, so that in future the number and level of outstanding repayments against the loan are the same as would now have applied had you taken the loan sum without the PPI cover;

2. calculate the amount you paid up to the time of settlement in respect of the additional borrowing for the PPI premium, including interest charged, add interest on each of the additional payments made for this at the rate of 8% per anum simple from the date of each payment was made to the date of cancellation is paid less any premium refund actually paid to you on cancellation of the policy;

3. pay you the amount calculated in 2. along with a note showing how the amount concerned was calculated.

I am pleased to confirm that the business has accepted our view on your case and accordingly, it has offered to calculate redress in line with the method set out above.

I trust you will be prepared to to accept the offer made by the business........

The settlement form was very simple, it asked me to confirm my acceptance of the offer by Barclays in full and final settlement of my complaint. Unfortunately at the time of signing in mid June it wasn't clear as ro how redress would be paid.

georgiajam

Got letter from FOS today re Bank of Scotland PPI they have not admitted to mis-selling but are prepared to reimburse me PPI plus 8% interest. FOS have asked me to sign a form and send it back but it does not have an amount or breakdown of payment. So what am I signing? If I sign does this mean I have to take an offer I think may be unfair? Very confused!

Blodders

I had the same dilemma Georgia. In the end i chose to sign not knowing what the exact offer was, but trusted the formula worked out by the FOS and which is posted above your post.

jackrussells62

4 weeks ago, i wrote to HSBC to tell them i felt i was miss sold ppi, bellow is my resons why

This is due to the fact that I was not given the correct information when the policy was sold to me, as

• your salesperson was very pushy in selling me the policy so that I felt I could not say no.
• your salesperson did not give me full information on what the policy would and would not cover
• on the later insurance, I was assured the policy was right for me because I had a similar policy on the previous loan

I recieved a letter back today with copies of my agreement stateing that because i had put my initials and signatures in the boxes, i agreed to the conditions and accepted the policy. The terms and conditions are very long and in small print and would have taken me a very long time to read them, and i would of had to read them several times over to take it all in. i therefor put my trust in the sales person and signed in the boxes that he told me too. There are also ticks in boxes that im sure he did on my behalf.can i have some opinions on wheather i have lost this case or if i should persue it further.

tiggrae

Blodders wrote: »

Thanks Tiggrae.

The FOS don't make themselves crystal clear on this issue and i didn't specify how i wanted monies repaid on the original FOS complaints form.

This is what the FOS wrote:

Having carefully considered the merits of your complaint, we contacted the business explaining that in out view the complaint should be upheld. We recommend that the business should pay redress with the intention of putting you closely as is practical in the position you would have been in had the PPI policy not been sold. In order to do this we recommend that the business should:

1. re-arrange your loan by writing off all amounts outstanding in respect of the borrowing for the PPI premium, including any interests and charges, so that in future the number and level of outstanding repayments against the loan are the same as would now have applied had you taken the loan sum without the PPI cover;

2. calculate the amount you paid up to the time of settlement in respect of the additional borrowing for the PPI premium, including interest charged, add interest on each of the additional payments made for this at the rate of 8% per anum simple from the date of each payment was made to the date of cancellation is paid less any premium refund actually paid to you on cancellation of the policy;

3. pay you the amount calculated in 2. along with a note showing how the amount concerned was calculated.

I am pleased to confirm that the business has accepted our view on your case and accordingly, it has offered to calculate redress in line with the method set out above.

I trust you will be prepared to to accept the offer made by the business........

The settlement form was very simple, it asked me to confirm my acceptance of the offer by Barclays in full and final settlement of my complaint. Unfortunately at the time of signing in mid June it wasn't clear as ro how redress would be paid.

I think it's fairly clear in point 3 when it says 'pay YOU the amount calculated in 2 - inequivical - go back and tell Barclays they're in breach of the agreement you signed with the FOS - email your adjudicator and tell him / her you signed on the understanding the money would be paid back to you - it's NOT for Barclays to decide !!!!

tiggrae

georgiajam wrote: »

Got letter from FOS today re Bank of Scotland PPI they have not admitted to mis-selling but are prepared to reimburse me PPI plus 8% interest. FOS have asked me to sign a form and send it back but it does not have an amount or breakdown of payment. So what am I signing? If I sign does this mean I have to take an offer I think may be unfair? Very confused!

hi doesn't it say HBOS have to provide a calculation of exactly how much is being paid back when they pay the money back - it should do - it's a fairly standard letter they use !!!

tiggrae

jackrussells62 wrote: »

4 weeks ago, i wrote to HSBC to tell them i felt i was miss sold ppi, bellow is my resons why

This is due to the fact that I was not given the correct information when the policy was sold to me, as

• your salesperson was very pushy in selling me the policy so that I felt I could not say no.
• your salesperson did not give me full information on what the policy would and would not cover
• on the later insurance, I was assured the policy was right for me because I had a similar policy on the previous loan

I recieved a letter back today with copies of my agreement stateing that because i had put my initials and signatures in the boxes, i agreed to the conditions and accepted the policy. The terms and conditions are very long and in small print and would have taken me a very long time to read them, and i would of had to read them several times over to take it all in. i therefor put my trust in the sales person and signed in the boxes that he told me too. There are also ticks in boxes that im sure he did on my behalf.can i have some opinions on wheather i have lost this case or if i should persue it further.

as it's HSBC take your claim to the FOS, tell them there are boxes ticked which you know you didn't tick !!! Send a copy of the complaint form to HSBC as 'a courtesy'