PPI Reclaiming discussion Part II

m.colak

marshallka wrote: »

i have now drafted my letter to firstplus and note that in the oft guidance it states that a cap should have been used which firstplus say they have done. How much realistically do you think they overcharged. All my details are in my previous post.

Hi what do you think constitutes a cap if your charges were £1050 and i capped it at £1000 am i doing you any favours???. Honestly ask for the breakdown and quote about the Rule 78 relating to the OFT paper and see what the response is.

m.colak

Janebo12 wrote: »

I have just received a reply from Halifax declined my complaint.

I took out the loan with PPI on 2nd December 2005, whilst I was on maternity leave, however I told the salesperson that I was due to go on a career break, but she went ahead with it all anyway. My career break was due to start on 15th December 2005.

Halifax's letter says "You have also stated that you were on an unpaid career break when you took the policy out. According to our records at the time of the sale 2nd December 2005, your occupation was that of civil servant. Whilst I have read your letter regarding your career break, it is important to note that at the time of sale you were in work which satisfies part of the eligible criteria for the personal loan repayments cover. In addition to this, whilst I note that you embarked on a career break, this did not exclude you from certain elements of the cover..."

Halifax have not said that this is their final response, but say if I am unhappy to go to the financial ombudsman.

What I would like to know is that if they knew that I was going on a career break, should they have still sold me the policy? According to them I was not excluded from certain elements on the cover which would have been death etc which would have been covered on my life insurance policy which incidentally I held with them at that time?

Would it be worth pursuing this further or am I just flogging a dead horse?

Thanks in advance for any advice.

No your not what i would do is copy your insurance documents and PPi documents send them back and state that your PPI was mis sold due to the fact that you already had the insurance elements previously highlighted. To that extent its is mis sold as the Halifax obviously didn't clarify if you had covering insurance already because if they had checked their records they would have seen you already had a policy with them (Pretty stupid of them really).

marshallka

m.colak wrote: »

Hi what do you think constitutes a cap if your charges were £1050 and i capped it at £1000 am i doing you any favours???. Honestly ask for the breakdown and quote about the Rule 78 relating to the OFT paper and see what the response is.

Thanks again for that. I have just got to wait until this evening for my husbands signature and the letter will be sent. I have also now rang Freedom Finance who have given me an account number with themselves that we had when we took this loan out. I told them that Firstplus are not acknowledging anything to do with the ppi and they have asked that i send copies of all the correspondence i have with regards to this and they will look at the matter. I told them that Firstplus have told me to write to "Gibraltar" and a firm called Bespoke Finance and she said it was ok to write to them and they had all the details. I wonder what Freedom Finances response will be to this. I have put in my letter that all the complaint is ongoing that was originally sent to Firstplus and it is to be dealt with by whomever sold the policy. Just have to play the waiting game now. (I have also sent a SAR to Firtplus although parting with another £10 has got my goat, the postage stamp is enough) Do i need to ask Freedom for a SAR too.


thanks m.colak

m.colak

Laini wrote: »

not sure I think m colak can answer that more confidently
but I think it is a yes.
i am going after mis sold and unfair rebate cos we had already settled the loan.
so i havent had to cancel.
sorry its vague but dont want to give wrong info

Laini xxx:rolleyes:

Three main points on this. One is if you cancel you no longer have the protection of the insurance policy should the worst happen. Two if you did cancel then they would have to rebate you some if not all of the PPI (Depends if it is a single premium policy/front loaded or not (That means that you paid the insurance and interest off first before you even started paying the loan ps you need to check)). Obviously if the rebate is disproportional then you reclaim this also as well as the mis sold PPI. Three do you need the insurance?.

Really what i'm saying is that it won't hinder your case by doing so as it then looks like you've acted as if you were mis sold (ie why should i pay for something i neither wanted or needed or wouldn't of covered me).

m.colak

marshallka wrote: »

Thanks again for that. I have just got to wait until this evening for my husbands signature and the letter will be sent. I have also now rang Freedom Finance who have given me an account number with themselves that we had when we took this loan out. I told them that Firstplus are not acknowledging anything to do with the ppi and they have asked that i send copies of all the correspondence i have with regards to this and they will look at the matter. I told them that Firstplus have told me to write to "Gibraltar" and a firm called Bespoke Finance and she said it was ok to write to them and they had all the details. I wonder what Freedom Finances response will be to this. I have put in my letter that all the complaint is ongoing that was originally sent to Firstplus and it is to be dealt with by whomever sold the policy. Just have to play the waiting game now. (I have also sent a SAR to Firtplus although parting with another £10 has got my goat, the postage stamp is enough) Do i need to ask Freedom for a SAR too.


thanks m.colak

No you don't need to ask freedom for a SAR also. However i would ask when Firstplus became a member of the GISC (This is so you can go after them under the fact that the person whom sold you the loan insurance was a registered intermediary or broker;)).

Janebo12

m.colak wrote: »

No your not what i would do is copy your insurance documents and PPi documents send them back and state that your PPI was mis sold due to the fact that you already had the insurance elements previously highlighted. To that extent its is mis sold as the Halifax obviously didn't clarify if you had covering insurance already because if they had checked their records they would have seen you already had a policy with them (Pretty stupid of them really).

Thanks for that, I will give it a try.

Unfortunately, I no longer have the documents as I changed over my mortgage and life cover after getting annoyed with the Halifax a couple of years ago.

I will get on to them though.

m.colak

Janebo12 wrote: »

Thanks for that, I will give it a try.

Unfortunately, I no longer have the documents as I changed over my mortgage and life cover after getting annoyed with the Halifax a couple of years ago.

I will get on to them though.

SAR with mortgage agreement number:D

Laini

kittycatsam wrote: »

Hi M.Colak
I'm assuming from your post that Petermb will be reffering to the fact that your contract could be irredeemably unenforceable due to technicalities in the way it was written out and being pre April 2006 changes to CCA. I aren't really au fait with this myself as it's a bit confusing but after going to a seminar about this I have some paper examples of contracts which are unenforceable due to various reasons. If you want me to I'll post these to you for a look see and compare them to your contract.
Sam

Just a query
our first plus loan agreement didnt have a separate box to tick for the PPI so signing the agreement meant you agreed to the ppi.
can they do this or did they need to put a separate tick box for PPI on the loan agreement -as they say it is optional when you write to them.

thanks in advance

Laini xx:j:j

kinikki

Laini wrote: »

Just a query
our first plus loan agreement didnt have a separate box to tick for the PPI so signing the agreement meant you agreed to the ppi.
can they do this or did they need to put a separate tick box for PPI on the loan agreement -as they say it is optional when you write to them.

thanks in advance

Laini xx:j:j

Hi laini,

I would say they should have had a box on your agreement that you should tick if you wanted PPI. In saying that after initially agreeing to PPI during
phone conversation due to big sales pitch of cashback offer our agreement
was sent out with the PPI element pre ticked effectively removing the option
for us to change our mind about PPI and removing the optional element of the loan.
Sorry don,t no the legal aspect of agreement without seperate PPI box on form.Believe after Jan 05 you would have had 2 seperate forms to sign
1 for loan
1 for PPI
Goodluck Kinikki

Janebo12

m.colak wrote: »

SAR with mortgage agreement number:D

Have just checked through my paperwork and found my mortgage roll number in the deeds for my house!!!

A letter is winging it's way back to them as we speak...

Thanks for all your help m colak :T