PPI Reclaiming discussion Part II

Angel_A_2

tenby wrote: »

I have justed recived a letter about a loan i had some time back over 5 years. the loan was about £15,000. the figures below is what i am reciving from the halifax bank wthin 14 days.

i had a pre existing meddical condition (diabetes) so this would of not covered me at all due to the insurance companies could say it was related to my pre existing cover.

Refund of premiums = £2,503.98
Refund of interest at 9.9% = £652.55
Interest at 8% = £1,167.90
Total = £4,324.43

Thank you martin lewis, you help me get £300 from bank charges just before the court case and i still got some on hold at the moment and you have won this again for me. I bigger amount this time.

you are the robin hood for us all out their telling us what is not right and correcting it and taking our money back from these companies.

i am going to try the credit card companies as well. has i think i should be able to get some money back from them.

i am having problems with my lloyds tsb on my PPI and not letting me reclaim the money back put i can reduice the payments.

so if anyone reading this and is not to sure to do it. DO IT NOW it works.

graham

Its so good to hear good news!!!

Well done Graham, nice words and we all applaud Martins site and his many, many helpers : ) You know who you are
Good Luck Di with the new letter, hope you get through to their dumb !!!!88's this time lol

di3004

heavenlygee wrote: »

Its so good to hear good news!!!

Well done Graham, nice words and we all applaud Martins site and his many, many helpers : ) You know who you are
Good Luck Di with the new letter, hope you get through to their dumb !!!!88's this time lol

lol, thanks so much heavenlygee.:D
With a bit of luck I will hear within 7 days - they should have listened to the letter I sent in July but obviously ignored it and done the usual by sending me and possibly others with their standard fob off letters.
I will post up and let you know as soon as I hear.;) :beer: .

Hope everything goes good for you too hun.;)

Di.
x

di3004

The letter was sent today to Endeavour by first class recorded delivery, here is the ref tracking number:

DV115426398GB.

Considering I have only just received their response today I don't think they expect to hear from me this quick - so here's hoping they will be reading it tomorrow.....:beer: .

di3004

jingle68 wrote: »

I took out a personal loan from Alliance & Leicester in Dec 2001, i applied online, received a phone call stating i MUST take out PPI to get the loan approved.
That is all the info i have, unfortunately i applied just after leaving hospital after a serious car accident (hit by drunk driver), i took out the loan to purchase another car, dont know why i applied because i had 2 broken legs,a fractured skull & a brain injury?? there was no chance of me driving for months.
Because of the head injury, i have no idea or info on the loan details,when it started or finished or its ID.
I have written to A&L twice & have had no reply.
I need to trace this loan because i believe i was mis-sold the PPI because i was forced to take it out to get the loan.
My bank details do not go back far enough for me to find the payments taken.
Please can somebody help me to trace this loan info??

thank you.

Hi there hunni.
So sorry to hear of your experience here, its dreadful all round.

Okay this was in 2001 and they have not or will not provide you with any of your loan information.
This is a bit of a problem really because when you request this information they normally go back as far as 6 years only.

However, it may still be worth you trying to pursue and reclaim this as you believe you were mis sold due to your reasons.
You obviously have good reasons here to fight this and grounds for complaint.
I will try to get some information on A&L then get back to you.

Bear with us hun and we will get back to you as soon as possible, - keep checking on this forum when you can, we will try to help you as much as possible.;)

Di.
x

di3004

Jingle68, I have checked on the FSA register and there are that many groups involving A&L, where one I checked were not regulated by the FSA until 2005, where this would be difficult if further action had to be taken, for example the Financial Ombudsman Service, but if these were under the GISC firm regulators then it should be okay.

With a bit of luck if you try to reclaim this with them you may be lucky and they may even refund you, but its not always that simple.

If you have ANY sort of paperwork at all about these there should be a regulators register number on them, we can then double check if these were then regulated or not for when you had this product, in case I have the wrong firm.

Going by your reasons though hunni, A&L should be ashamed of themselves by telling you that you must have this, I think you should still try and go for it, because even if you mentioned on the letter that further action will be taken if may get them thinking, because I'm sure you have every chance of winning this even if it went to "small claims court".;)

Maybe Tiggrae or Marshallka could also have some further advice here for you.

Di.
x

singlep

tiggrae wrote: »

Write back to them and tell them they haven't read your letter correctly and your complaint is about the unfair rebate which took place on ??? (ie after 14.01.2005) so definately comes under the jurisdiction of the FOS.

I do not understand the view that the date of the unfair rebate rather than the date the PPI was sold is the key date. On what basis and where is this stated? I can find nothing in the FSA Dispute Resolution Handbook or the transitioning rules etc to confirm this? Even though FSA has given guidance on post Jan 05 sales there is little precedent on what is unfair for the purpose of complaints. I am not confident that FOS has jurisdiction here. I would pursue this on Unfair Contract Terms basis as advisers failed to act in customer's best interest, Misrepresentation etc etc.

marshallka

singlep wrote: »

I do not understand the view that the date of the unfair rebate rather than the date the PPI was sold is the key date. On what basis and where is this stated? I can find nothing in the FSA Dispute Resolution Handbook or the transitioning rules etc to confirm this? Even though FSA has given guidance on post Jan 05 sales there is little precedent on what is unfair for the purpose of complaints. I am not confident that FOS has jurisdiction here. I would pursue this on Unfair Contract Terms basis as advisers failed to act in customer's best interest, Misrepresentation etc etc.

Tiggrae has done claims like this for her clients i think. She has always said that unfair rebate is to do with the date that you settled and not the date of the sale.

I am so confused here

Here is a quote from what Tiggrae has always told people

this is what the fsa have to say on unfair early settlement rebates Refunds of Single Premium Payment Protection Insurance

you have to be very clear you're not making a claim for mis selling but for an unfair early settlement under the Unfair Consumer Contract Terms Regulations 1999

Here's tiggraes letter that she drafted for Di some time ago

Originally Posted by tiggrae
try this
Unfair Rebate Settlement/Account policy number –

Dear Sirs

With regard to the above, upon early settlement of my loan in November 2005, I only received a small proportion of rebate against the Payment Protection Insurance, which I believe to be unfair under the Unfair Consumer Contract Terms Regulations 1999, especially considering the loan / PPI was taken over 25 years and settled only one year later

I am also aware the FSA have stated Companies should provide a fair refund upon early settlement.

Also, as only a small proportion was rebated, yet your own Marketing state, ‘if settle early you may be entitled to a refund’ in my opinion I did not receive a refund and believe this statement to be mis-leading and amounts to Negligent Misrepresentation under the 1967 Misrepresentation Act.


In summary, I do not feel I was treated fairly, should you fail to uphold my complaint by which I believe you unlawfully deprived me of approximately £3722.68, if this amount plus 8% Statutory Interest is not forthcoming, upon receive of your final response I will without further notice take my complaint to the Financial Service Ombudsman, on the grounds of an Unfair Settlement Rebate.

I look forward to receiving your response within 14 days of this letter.

Also this from Di case what tiggrae did for Di

Hi I think HFC are part of HSBC so would be regulated in 2001 - as for the early settlement rebate this is what the fsa have to say on early settlement of PPI - I'd go back to Endeavour with a copy of this document say you think the settlement was unfair, if you don't get your money back take your complaint to the FOS for an unfair settlement NOT for mis selling

Refunds of Single Premium Payment Protection Insurance

singlep

Tiggrae may be right but this is new to me. So, if everyone who was missold PPI before jan 05 ceased the policy and requested the rebate they would be able to claim to FOS as at that time all rebates were unfair. So why doesn't everyone do this if their adviser was non GISC? At least you get the premium although not the interest paid.

singlep

Yes and I can now see how this FSA briefing was confusing but it does not alter FOS jurisdiction at jan 05. However the statement should be helpful for court claimants.

marshallka

singlep wrote: »

Yes and I can now see how this FSA briefing was confusing but it does not alter FOS jurisdiction at jan 05. However the statement should be helpful for court claimants.

So Singlep would you say FOS would be able to deal with these unfair rebates or not if they were settled after 2005???? Is it just in court cases it would help???

Would like to hear your views