PPI Reclaiming discussion Part II

di3004

Good morning folks.....:D .

Time to start again then........:rolleyes: .

I have posted the Click letter folks, well I got hubby to to this as usual by recorded post.......:D , lol, now I do need to get on with the Endeavour letter about the unfair rebate, well I thought it was considering it was paid off almost 24 years earlier......:rolleyes: .
Yet they used the rule of 78.

Not sure though if I will be luck because even though this was paid off in Oct 2005, not sure if the new calculations were used then only on new loans etc.......:rolleyes: , what do ya think guys and do ya know of any templates I can use for this letter ? Thanks....;) .

Hope your having a better day today Marshallka, you too Laini.;)

marshallka

di3004 wrote: »

Good morning folks.....:D .

Time to start again then........:rolleyes: .

I have posted the Click letter folks, well I got hubby to to this as usual by recorded post.......:D , lol, now I do need to get on with the Endeavour letter about the unfair rebate, well I thought it was considering it was paid off almost 24 years earlier......:rolleyes: .
Yet they used the rule of 78.

Not sure though if I will be luck because even though this was paid off in Oct 2005, not sure if the new calculations were used then only on new loans etc.......:rolleyes: , what do ya think guys and do ya know of any templates I can use for this letter ? Thanks....;) .

Hope your having a better day today Marshallka, you too Laini.;)

Glad to hear you've posted your letters. Get on with your endeavour one too. Once you've done them you can relax for a week or two until you get a response. My daughter is off school now so i won't be able to spend as much time on this week as we are visiting at the weekend but i will pop on and keep you posted.

marshallka

Laini wrote: »

morning
its not a nice day weatherwise
going to crack on with job applications and still looking for a car.
No news yet from FOS on Nemo
hope you hear something today Marshallka

thanks Laini, keep us udated. I will too. xx

di3004

marshallka wrote: »

Glad to hear you've posted your letters. Get on with your endeavour one too. Once you've done them you can relax for a week or two until you get a response. My daughter is off school now so i won't be able to spend as much time on this week as we are visiting at the weekend but i will pop on and keep you posted.

Its my son's last day from school today, no doubt though he will be spending quite a bit of time at a family members farm, I will keep you posted hunni, and I do hope you hear with some very good news hun, everything staying crossed for you.;) You could do with some good luck for a change.;) xxx

di3004

As you know my letter has now gone off to Click, but a few weeks ago because I received some paperwork from Endeavour the lenders that Click arranged there were some added info with logo's of HFC, so I thought If I have no success with Click I would try to pursue through HFC.
This morning I received an email from this company who are campaigning against HFC, will see what happens with a response from the Click group before taking it this direction, anyway here is the email reply I received:


Dear D

Many thanks for your email and many apologies for the delay in responding.

We would like to help you in your claim - however, seeing that the remit of our proposed action is only against HFC Bank we first need to make sure that HFC is the "real" respondent in this matter - which does not really appear to be the case from the information that you have provided to us - seeing that the intended action is based on misselling, HFC would have had to have missold you the product in order to be liable - either directly (which does not appear to be the case) or indirectly (through Click or Endeavour as its agents - which is, however, much more difficult to show).

In the event that we can establish that you do have a claim against HFC Bank, then we believe the best way for you and the other individuals who are in a simliar position as you to succeed in your claims is to join together and bring a class action. This will cost you nothing, but, as you can imagine, it will take us some time to gather everyone's details and to prepare the action.

A XXXX-XXXXXX/ A XXXXXXXX
Solicitors
Clyde & Co LLP
51 Eastcheap
London EC3M 1JP
Switchboard: 020 7623 1244
Fax: 020 7623 5427

marshallka

di3004 wrote: »

As you know my letter has now gone off to Click, but a few weeks ago because I received some paperwork from Endeavour the lenders that Click arranged there were some added info with logo's of HFC, so I thought If I have no success with Click I would try to pursue through HFC.
This morning I received an email from this company who are campaigning against HFC, will see what happens with a response from the Click group before taking it this direction, anyway here is the email reply I received:


Dear D

Many thanks for your email and many apologies for the delay in responding.

We would like to help you in your claim - however, seeing that the remit of our proposed action is only against HFC Bank we first need to make sure that HFC is the "real" respondent in this matter - which does not really appear to be the case from the information that you have provided to us - seeing that the intended action is based on misselling, HFC would have had to have missold you the product in order to be liable - either directly (which does not appear to be the case) or indirectly (through Click or Endeavour as its agents - which is, however, much more difficult to show).

In the event that we can establish that you do have a claim against HFC Bank, then we believe the best way for you and the other individuals who are in a simliar position as you to succeed in your claims is to join together and bring a class action. This will cost you nothing, but, as you can imagine, it will take us some time to gather everyone's details and to prepare the action.

A XXXX-XXXXXX/ A XXXXXXXX
Solicitors
Clyde & Co LLP
51 Eastcheap
London EC3M 1JP
Switchboard: 020 7623 1244
Fax: 020 7623 5427

Di, send them the info from the FSA Register which shows Endeavour is part of HSC. Its keeping your options open. Tiggrae does her claims like this.

di3004

marshallka wrote: »

Di, send them the info from the FSA Register which shows Endeavour is part of HSC. Its keeping your options open. Tiggrae does her claims like this.

Thanks hunni.;)
I'm surprised they don't think of checking the FSA register, meanings they do the same as Tiggrae.:rolleyes:
But yes it's best to keep these options open, definately.;)
Cheers.;) xxx

singlep

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,

The advised/non advised rules did not apply until 14.01.05. May I suggest you replace with "under the law of agency you had a fiduciary duty of care to act in my best interests and by selling me a single premium as opposed to a monthly alternative you failed in that duty".

singlep

di3004 wrote: »

Thanks hunni.;)
I'm surprised they don't think of checking the FSA register, meanings they do the same as Tiggrae.:rolleyes:
But yes it's best to keep these options open, definately.;)
Cheers.;) xxx

Apologies if this info has previously appeared. HFC were fined by FSA for PPI misselling and were instructed to contact their customers. Sadly many customers are frightened or do not know how to complain, so Clyde and Co have set up a "class action" to help. BUT this only applies to PPI sold by HFC itself and not by brokers such as Click.

sunnybubble

hi guys
to explain my situation shortly i had a car loan in march 2004 through a local dealer which (of course) put a ppi on the agreement whithout my consent + iam self employed. i have been trying to get the sum written of the loan but blk horse has refused balming the dealer, so when i wrote to the dealer they blamed me for signing the docs, and basicaly said- tough what are you going to do about it! in the meantime the car was involved in a crash (as the devil never sleeps)and was writen off - i had a pay out and i paid the car off(i only had 8 months left on the agreement anyway) but refusing to pay for the ppi
so i took it to the ombudsman and i just had a repply back from them saying that they can not deal with the claim as black horse have only came under their authority in jan 2005 and my agreement was issued march 2004.
so the car is in storage with the insurance company they want to auction it but they cant because blk hose refuses to weaver the hp of it - i refuse to pay for the ppi i never asked for so i have come to a dead end.

where can one go next? can i file a claim through small claims court?
sure there must be something to stop this escalating any further...
thanks guys

Last edited by sunnybubble : Today at 4:41 PM.
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