PPI Reclaiming discussion Part II

Tron_ess

bodacia wrote: »

Help need. i bought acomputer from pc world paying with my debit card.
salesman told me i had three months free insurance he asked me if i had a credit card i said yes but only for amergencies as it was a secondery card on my daughters account i had no idea he wanted it for this policy agreement i have since written to the firm but not getting any satifaction can any one help regarding this

Bodacia,

These companies think they can get away with anything. I assure you these companies and others are just as much in FSA / FOS sights. [Carphonewharehouse has already been fined by FSA for their failings]

I presume this was done post Jan 2005.
What you need to do is write to DSG International Holdings Limited - Mr Jonathan David Hewitt (He is the person responsible for Insurance Mediation). DSG is the principal company to Capita Business Service Ltd, which is where PC World get their Authority to sell insurance products. Advise them you were sold an insurance product through (name the store and advisor) if possible, which was done in contravention to the FSA Insurance Conduct of Business Rules. Explain that you were missold the product as you were merely advised you have 3 months free insurance .. etc..etc. Explain that you expect a full refund etc.. and that if they fail to reach a satisfactiry resolution within 8 weeks you will escalte the matter to FOS.

As the principals - DSG have a responsibility to ensure the appointed representatives and their staff act in accordance with FSA rules and requirments. In most cases - they have very little knowledge of what goes on on the floor, training (FSA firms are required to have Training and Competency schemes) is minimal at best ... and these they know they're unlikely to prove that their member of staff was sufficiently trained to sell insurance. Give it a shot ... it'll only cost you a postage stamp.

Tron_ess

marshallka wrote: »

I did post this ages ago about the GIB thing. (I noticed it on a web page:eek: ) I too had trouble with a GIB company but thats done and dusted for now. I just hope this is not the case here as we found out that we could take a GIB company through the english courts here but if we won then uk baliffs had no jurisdiction in GIB. No win situation really! But she did say "her " first click was in liquidation?????

International Financial Placements Limited (IFP) is a trading partner of the Click Group and registered in Gibraltar, company registration number (46156) at 932 Europort. IFP holds a Consumer Credit Licence, number 574586, issued by the Office of Fair Trading. IFP is an intermediary of Secured Loans !

They're basically stating IFP sell the Secured Loans (for other lenders) and that Click sell the insurance.
It strikes me though that its likely the same "individual" is selling / advising on both parts, unless the one company transfers to the other. If the same individual is doing both parts then either they work for IFP and are breaching FSA as not regulated to sell/advise on insurance, or they work for Click, and are commiting criminal offence by selling loans without consumer credit license. Hence why I thought it worthwhile getting more info.

If they have set up correctly with appropriate transfers - then you can consider hitting them under "hurstanger" as i'll bet they didn't disclose to Di all the differnt commision payments they were getting from the relevant partners for doing each of "their" parts.

Always worth doing that little more digging...

marshallka

Tron_ess wrote: »

They're basically stating IFP sell the Secured Loans (for other lenders) and that Click sell the insurance.
It strikes me though that its likely the same "individual" is selling / advising on both parts, unless the one company transfers to the other. If the same individual is doing both parts then either they work for IFP and are breaching FSA as not regulated to sell/advise on insurance, or they work for Click, and are commiting criminal offence by selling loans without consumer credit license. Hence why I thought it worthwhile getting more info.

If they have set up correctly with appropriate transfers - then you can consider hitting them under "hurstanger" as i'll bet they didn't disclose to Di all the differnt commision payments they were getting from the relevant partners for doing each of "their" parts.

Always worth doing that little more digging...

Oh, I am having a case of deja vu!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Di, where are you matey...

I wonder why they have connections with GIB. VAT/TAX comes to mind here.:D

Wilson v Hurstanger


A broker negotiating a loan was paid a fee by his consumer clients and a commission from the lender. Although the clients were told about the commission, the broker had breached his fiduciary duty because he did not disclose the actual amount. The lender was held liable to the borrowers as accessory to the broker's breach.

Tron_ess

tiggrae wrote: »

you can make a claim in the court for any time limit - however, if over 6 years the defendant can request the claim be dismissed as it's past the 6 year limit specified by the Limitations Act 1980 - however, under Section 34 of the Limitations Act you can state as you only just became aware of the fact you've been mis represented to, as you have no legal knowledge or background to know you'de been decieved you can request the judge hear the case. The risk is that there is no precident set and it is down to each individual judge as to whether he / she will allow the case to be heard - if not it will be struck out - another risk is costs, the defendant could apply for costs to be awarded to them if the case is struck out.

Also see a lot on here about companies claiming they don't have records over 6 years old.
Important to note that they should be keeping records for 3-6 yrs(depending on what record) AFTER their relationship with the customer has ended. So even if people took their polcies out 7 years ago ... if it only ended 2 years ago, the company should still have the records.

catinthehat1

Tron_ess wrote: »

Also see a lot on here about companies claiming they don't have records over 6 years old.
Important to note that they should be keeping records for 3-6 yrs(depending on what record) AFTER their relationship with the customer has ended. So even if people took their polcies out 7 years ago ... if it only ended 2 years ago, the company should still have the records.

Hi Tron_ess - what if it hasn't ended - do they keep records for the lifetime of the loan etc or only the past 6 years?

Tron_ess

Absolut_Wench wrote: »

Evening all, hope everyone is well. I've been away for a few weeks (holiday and new job) so I've missed hundreds of pages of discussion.

I'm still waiting for the Halifax to get back to me with an explanation of their loan PPI settlement figure (lost back in the dim and distant recesses of this thread, about a month ago).

I've had some good news on charges reclaiming with Capital One and Halifax Visa :j so its not all doom and gloom.

I have a question for you good people. I sent in a SAR for a Barclaycard loan of my Dad's, and got back very little info. So, back we went with another letter, asking for useful info such as "is there PPI on this loan?" (no mention of it anywhere in the paperwork) and "please can I see the actual loan paperwork with a signature on it?"


They've written back to say that the request for additional info is outside the terms of the Data Protection Act, so they won't provide it.

We also had a query about the loan balance, and was told we could not have this information.

Is that correct? Can they withold this sort of information? Any advice gratefully received.

Apart from Joint Loan possibility the information is not something that comes under the exceptions allowed in the Data Protection Act.

When you get back in touch with them, i'd kindly remind them that if they dont have this information then they're also in breach of FSA ICOBS Rules!

Tron_ess

catinthehat1 wrote: »

Hi Tron_ess - what if it hasn't ended - do they keep records for the lifetime of the loan etc or only the past 6 years?

If the Loan is still going then they should keep details of the loan. What they may not have to keep is details of all insurance if that has expired / cancelled etc. This is where it can get messy - especially if your dealing with lenders and brokers.
For most lenders though - the reality is, is if they have your loan / credit agreement records... any accompanying insurance records are likely to still be with it - especially for single premium products as technically you take a "PPI" Loan in order to pay for this. In my experience very few firms legitimetely don't have those records. Its normally that they can't locate them, because until recently many has very poor records management proceedures...so they try their utmost to get out of things and drag things out. If things go to court and they can't reproduce contractual documentation - their chances can be slim. For Credit Agreements - unless they can produce an executed credit agreement - they'd have trouble enforcing it.

catinthehat1

Hi Tron-ess

Sorry to sound stupid but what is an 'executed credit agreement'?

marshallka

Tron_ess wrote: »

If the Loan is still going then they should keep details of the loan. What they may not have to keep is details of all insurance if that has expired / cancelled etc. This is where it can get messy - especially if your dealing with lenders and brokers.
For most lenders though - the reality is, is if they have your loan / credit agreement records... any accompanying insurance records are likely to still be with it - especially for single premium products as technically you take a "PPI" Loan in order to pay for this. In my experience very few firms legitimetely don't have those records. Its normally that they can't locate them, because until recently many has very poor records management proceedures...so they try their utmost to get out of things and drag things out. If things go to court and they can't reproduce contractual documentation - their chances can be slim. For Credit Agreements - unless they can produce an executed credit agreement - they'd have trouble enforcing it.

What is your opinion on this thing of unenforcable agreements???

I Don't mind paying money back i have wanted/needed and that bit does not bother me (except using rule 78 in settlement does:mad: ) but do not like the fact that at time when i was in debt i was induced to more debt that was needless and probably worthless to me and also more than most likely sold to me purely for the profits of the banks etc and certainly not in utmost good faith.

marshallka

catinthehat1 wrote: »

Hi Tron-ess

Sorry to sound stupid but what is an 'executed credit agreement'?

Executed agreement means an agreement signed by all parties (including the lender) involved and is needed in any court cases.