PPI Reclaiming discussion Part II

di3004

I'm almost there folks........:D , just ending it, although there are some things maybe I should not write in, maybe one of you could let me know.
Will be posting as soon as.....:D :beer: .

di3004

Here goes, I will warn you though my grammer is not good......:o , have left personal details out but if you think anything needs tweaking or adding then please just say and please add, cheers, I know it will need it lol, thanks folks.

Our addy goes here.

15 July 2008

Mr Steven R Teague/Mr Raymond Flannery
Compliance Dept/Click House
Woolmead House West, Bear Lane
Farnham, Surrey
GU9 7LG

Policy Account No:

Dear Sirs,

I purchased a Loan and Single Protection Insurance Product from Click Finance Limited in July 2004.

I have been advised to contact you as you were active members of the previous Click Company Group and continue to be active Members/Directors of this present Click group.

I am pursuing a Mis-sold Insurance policy from you due to the fact of the previous Click Financial Group dissolving in 2006; this has already been confirmed to me by the Compliance Manager, Mr Ted Colegate recently, also by the liquidators.
The company registration number was: 04239176.
As you are still active and continue to be a part of this group which has many trading names, I hold you liable and believe I have a right to complain to you to pursue my claim from you.

I am requesting for you to uphold my complaint and refund the Payment Protection Insurance, and Interest what have been paid in this product and 8% of what a court would award.

I am now going to explain my reasons for why I believe I was Mis-sold this product, and believe there were rules to follow before and after January 2005 of when FSA regulation came into force.

In July 2004, I was sold both a Loan and Single Payment Protection Insurance, but the product was not explained to me.

I was not told the Insurance was optional.
The adviser should have explained the cover was optional.

The adviser should have made me aware of any significant policy exclusions, and checked whether these exclusions applied to me, I was not told or asked of any medical conditions which I have and did have when sold this product, this is a back condition. Your adviser made contact with my employer as seen on paperwork I had received recently but was also made aware by the employer that just before this sale of this Cover that I had undertaken over 66 sick days, your adviser should have thought to ask if there was a medical condition in case the policy did not cover me, but I was not asked.

The adviser should have made it clear how much the policy would cost and should have informed me that the Insurance would be paid for by a Single up-front premium, this was not explained.

As it was a Single protection cover the adviser should have made it clear that the cost of the insurance would be added to the Loan and that I would be paying interest on the premium, this was not explained.

As the insurance expired before my loan agreement, the adviser should have made it clear to me, because mine was a Single cover that I would continue to pay interest on the premium after it expires. I was not informed of anything by my adviser during the sale of the product.
My loan was for 25 years but the Insurance policy was only for 5 of those years, this was not explained to me.

Despite there being selling rules after January 2005, the above rules are covered in all sales undertaken before and after.

My loan amount was as stated on regulated agreement: dated 30/07/2004

a) Loan Amount £21,000.
b) Loan (and cash price)for Optional Single Premium PPI: £2835.00
c) Total Loan amount A+B: £23835.00
Single Accident/Sickness & Unemployment.

Total amount to settle on 30th November 2005 £23646.04 with added legal sealing fee of £120 included. This was then settled for that month where Endeavour Personal Finance undertaken these calculations, I did not actually receive a refund of settling the both Loan and PPI early, but a rebate of half of the amount was deducted of the PPI itself, to leave that above settlement figure. Which I also believe this was very unfair considering settling this almost 24 years earlier.

I feel I have been deprived of my money, and if this was explained to me, then I would have obviously have not chosen to take this costly option and would have taken out a cheaper stand alone option of what would have covered me.

I received some information through a Subject Access Request from the lenders who forwarded me copies of the Underwriters calculations, the total amount actually paid into these products was a costly amount of £26565.18, this states in section Total amounts received.
Comparing this amount to the agreement which is way over the amount shown on the actual agreement itself which is extortionate. The protection cover plays a big part in this and works out the amount of £2919.14 extra was paid on top of the full agreement amount as shown above, because please be aware this settlement was that of £23646.04 including the rebate.
I would like to explain this:
Total Settlement was that of:
£23,646.04, but if £26565.18 as this was paid in total for the Loan & PPI, and work this out by deducting the bottom away from the top figure then you will have in total = 02919.14. So that was the amount paid extra on top of the agreement total of £23835.00. Amount on Agreement of both Loan & PPI £23835.00 + £2919.14 this gives the amount of £26,754.14.
Bear in mind that £374.71 of added interest of settlement was included and that of a Legal sealing Fee £120 also included.

I would appreciate it if you would seriously take this into consideration and uphold my complaint, advised, non-advised, rules are rules and selling these products should be in the interest of the customers, and I am aware by these Insurance policies being sold there is extra commission paid for the brokers for achieving this by a sale.
I also have the paperwork here which I was not aware of before receiving this through the SAR (Subject Access Request) Information the amount of what the broker was paid, for this sale, this was not disclosed to me on the sale of my products.
The amount shown is that of £1,680 where I also see marked 8%.

As you are active and still active as a Click Group, and going by a previous investigation undertaken by the Compliance Manager Mr Ted Colegate, who informed us the company/brokers who dealt with this had dissolved, he obviously had information on us on Database and/or Microfiche to have had been able to investigate.

I have checked on both the FSA register and Companies House, even though the previous company has dissolved, your company still runs under the same group, where the same brokers/members and Directors have continued to be active under a Click Financial Group.

However, it is my intention to inform the FSA and the OFT (Office of Fair Trading) so they may retain the information on their ‘Fitness & Propriety File’.
This can be very confusing and misleading for existing and previous customers.

I’m sure you understand my concern and hope you will consider my complaint, and take the responsibility of this matter into your hands, or I will be forced to take further action which can be avoided if you resolve this complaint within 4 weeks as from the day you receive this letter.
I look forward to your response, which should be received to me by 4 weeks deadline.


Yours faithfully,

marshallka

di3004 wrote: »

Here goes, I will warn you though my grammer is not good......:o , have left personal details out but if you think anything needs tweaking or adding then please just say and please add, cheers, I know it will need it lol, thanks folks.

Our addy goes here.

15 July 2008

Mr Steven R Teague/Mr Raymond Flannery
Compliance Dept/Click House
Woolmead House West, Bear Lane
Farnham, Surrey
GU9 7LG

Policy Account No:

Dear Sirs,

I purchased a Loan and Single Protection Insurance Product from Click Finance Limited in July 2004.

I have been advised to contact you as you were active members of the previous Click Company Group and continue to be active Members/Directors of this present Click group.

I am pursuing a Mis-sold Insurance policy from you due to the fact of the previous Click Financial Group dissolving in 2006; this has already been confirmed to me by the Compliance Manager, Mr Ted Colegate recently, also by the liquidators.
The company registration number was: 04239176.
As you are still active and continue to be a part of this group which has many trading names, I hold you liable and believe I have a right to complain to you to pursue my claim from you.

I am requesting for you to uphold my complaint and refund the Payment Protection Insurance, and Interest what have been paid in this product and 8% of what a court would award.

I am now going to explain my reasons for why I believe I was Mis-sold this product, and believe there were rules to follow before and after January 2005 of when FSA regulation came into force.

In July 2004, I was sold both a Loan and Single Payment Protection Insurance, but the product was not explained to me.

I was not told the Insurance was optional.
The adviser should have explained the cover was optional.

The adviser should have made me aware of any significant policy exclusions, and checked whether these exclusions applied to me, I was not told or asked of any medical conditions which I have and did have when sold this product, this is a back condition. Your adviser made contact with my employer as seen on paperwork I had received recently but was also made aware by the employer that just before this sale of this Cover that I had undertaken over 66 sick days, your adviser should have thought to ask if there was a medical condition in case the policy did not cover me, but I was not asked.

The adviser should have made it clear how much the policy would cost and should have informed me that the Insurance would be paid for by a Single up-front premium, this was not explained.

As it was a Single protection cover the adviser should have made it clear that the cost of the insurance would be added to the Loan and that I would be paying interest on the premium, this was not explained.

As the insurance expired before my loan agreement, the adviser should have made it clear to me, because mine was a Single cover that I would continue to pay interest on the premium after it expires. I was not informed of anything by my adviser during the sale of the product.
My loan was for 25 years but the Insurance policy was only for 5 of those years, this was not explained to me.

Despite there being selling rules after January 2005, the above rules are covered in all sales undertaken before and after.

My loan amount was as stated on regulated agreement: dated 30/07/2004

a) Loan Amount £21,000.
b) Loan (and cash price)for Optional Single Premium PPI: £2835.00
c) Total Loan amount A+B: £23835.00
Single Accident/Sickness & Unemployment.

Total amount to settle on 30th November 2005 £23646.04 with added legal sealing fee of £120 included. This was then settled for that month where Endeavour Personal Finance undertaken these calculations, I did not actually receive a refund of settling the both Loan and PPI early, but a rebate of half of the amount was deducted of the PPI itself, to leave that above settlement figure. Which I also believe this was very unfair considering settling this almost 24 years earlier.

I feel I have been deprived of my money, and if this was explained to me, then I would have obviously have not chosen to take this costly option and would have taken out a cheaper stand alone option of what would have covered me.

I received some information through a Subject Access Request from the lenders who forwarded me copies of the Underwriters calculations, the total amount actually paid into these products was a costly amount of £26565.18, this states in section Total amounts received.
Comparing this amount to the agreement which is way over the amount shown on the actual agreement itself which is extortionate. The protection cover plays a big part in this and works out the amount of £2919.14 extra was paid on top of the full agreement amount as shown above, because please be aware this settlement was that of £23646.04 including the rebate.
I would like to explain this:
Total Settlement was that of:
£23,646.04, but if £26565.18 as this was paid in total for the Loan & PPI, and work this out by deducting the bottom away from the top figure then you will have in total = 02919.14. So that was the amount paid extra on top of the agreement total of £23835.00. Amount on Agreement of both Loan & PPI £23835.00 + £2919.14 this gives the amount of £26,754.14.
Bear in mind that £374.71 of added interest of settlement was included and that of a Legal sealing Fee £120 also included.

I would appreciate it if you would seriously take this into consideration and uphold my complaint, advised, non-advised, rules are rules and selling these products should be in the interest of the customers, and I am aware by these Insurance policies being sold there is extra commission paid for the brokers for achieving this by a sale.
I also have the paperwork here which I was not aware of before receiving this through the SAR (Subject Access Request) Information the amount of what the broker was paid, for this sale, this was not disclosed to me on the sale of my products.
The amount shown is that of £1,680 where I also see marked 8%.

As you are active and still active as a Click Group, and going by a previous investigation undertaken by the Compliance Manager Mr Ted Colegate, who informed us the company/brokers who dealt with this had dissolved, he obviously had information on us on Database and/or Microfiche to have had been able to investigate.

I have checked on both the FSA register and Companies House, even though the previous company has dissolved, your company still runs under the same group, where the same brokers/members and Directors have continued to be active under a Click Financial Group.

However, it is my intention to inform the FSA and the OFT (Office of Fair Trading) so they may retain the information on their ‘Fitness & Propriety File’.
This can be very confusing and misleading for existing and previous customers.

I’m sure you understand my concern and hope you will consider my complaint, and take the responsibility of this matter into your hands, or I will be forced to take further action which can be avoided if you resolve this complaint within 4 weeks as from the day you receive this letter.
I look forward to your response, which should be received to me by 4 weeks deadline.


Yours faithfully,

Sounds good to me Di, let tiggrae take a look if she is online today. She has not been about for a day or two. (in fact no-one is around - i bet everyone is taking holidays)

I bet you feel better just writing it.:D

di3004

marshallka wrote: »

Sounds good to me Di, let tiggrae take a look if she is online today. She has not been about for a day or two. (in fact no-one is around - i bet everyone is taking holidays)

I bet you feel better just writing it.:D

Thx hunni.:D Not to worry, and yes hun, I do feel loads better lol.:D

marshallka

Just again been looking at the application form for my loan and where it states ppi it just asks one or joint, the one for both have been ticked by them. There is not a box for "not required". God it makes me so mad:mad:

di3004

marshallka wrote: »

Just again been looking at the application form for my loan and where it states ppi it just asks one or joint, the one for both have been ticked by them. There is not a box for "not required". God it makes me so mad:mad:

Blimey that is sooo wrong !:mad:
Have you any other copies of this, or did you request any SAR info hun ?
I know its all SAR's isn't it ?........:rolleyes: , but if wasn't for mine I don't think I would have known half.......:eek: .

That's a bit like when I was first sold my Credit card in Lloyds bank, they ticked the single ppi for me, even though I was a homemaker, I was not asked so like everyone else thought this was all part of the whole agreement ! I do have this one in with the FOS right now, I settled with these in 2003 in full, then when winning my first case with Nemo I remembered about other credit with added PPI with other finance companies......:eek:
Mad isn't it ?........:rolleyes: .

marshallka

Just taking a look through our experian now for any more loans. I think our loans were all so far back the limitations would apply. We ended up putting everything onto a mortgage with intelligent finance and now we cannot afford it so pay interest only. They loan far more than any other mortgage company but i must admit i regret it now. We had no choice then.

di3004

marshallka wrote: »

Just taking a look through our experian now for any more loans. I think our loans were all so far back the limitations would apply. We ended up putting everything onto a mortgage with intelligent finance and now we cannot afford it so pay interest only. They loan far more than any other mortgage company but i must admit i regret it now. We had no choice then.

Good you have Experian.;) Very useful.
I know what you mean hunni, our mortgage is now almost £800 a month and that's without insurances, :eek: , I remember when it was as low as £200 a month, then we remortaged to pay off loans, then it esculates doesn't it? , not easy I know, and we regret this too.
A good lotto win will be nice, but not that lucky, okay won a tenner last week but the big one would make a nice change wouldn't it ?;)
We all wish this.......:rolleyes: , if only......:D

marshallka

Just found a cop-op loan that we had in 19th December, 2002 and settled in 2004. It was for £8100 and repayable over 84 months with repayments of £168 per month. I requested this agreement from them about 8 weeks ago and they have not sent it so just called them. I asked if there was ppi on it (i know there was at that price - it works out at 19% apr otherwise and i know that we would not of had a loan at 19% ) and she said "it does not look like there was". I then said can you actually catergorically say there was not. She then said she would ask the manager if i could have a copy of the agreement. I then said that it was my right and that i would have to write to them. (which i will do). She told me that i would get a copy as soon as the manager said so and not to write. I will write today though as its been 8 weeks and still no agreement and 3 calls to them.

di3004

marshallka wrote: »

Just found a cop-op loan that we had in 19th December, 2002 and settled in 2004. It was for £8100 and repayable over 84 months with repayments of £168 per month. I requested this agreement from them about 8 weeks ago and they have not sent it so just called them. I asked if there was ppi on it (i know there was at that price - it works out at 19% apr otherwise and i know that we would not of had a loan at 19% ) and she said "it does not look like there was". I then said can you actually catergorically say there was not. She then said she would ask the manager if i could have a copy of the agreement. I then said that it was my right and that i would have to write to them. (which i will do). She told me that i would get a copy as soon as the manager said so and not to write. I will write today though as its been 8 weeks and still no agreement and 3 calls to them.

Hope you receive this hun, its been a long time hasn't it ?
Isn't there a letter template to request this ? without charge of course.;)
Its okay for her to say it didn't look like there was PPI added, she should see the evidence right in front of her.....:mad: .
I think these companies know what we're getting at now, like when requesting for some information they like to know why we want the info, Endeavour did with me :mad: , so I wrote back and told the compliance guy, because it is my rights if I request for this and especially if a payment of mine is involved.....:D and said if I want it then I should receive it without questions being asked.....;)
Yep write back to them hun, insist you need this.;)
Good luck !!