PPI Reclaiming discussion Part II

di3004

cot1198 wrote: »

Thanks Di

that gives me hope as my case looks like a simple one compared to yours
I delt direct with nemo, I still get calls from them now asking if I want another loan ha ha ha

cot

Lol, we were having the odd call and leaflets etc through the post up until we won, and of course Nemo have now also blocked mine and hubby's name from the email system because we kept on and on lol......:rotfl: :rotfl: .

Yep ours was arranged on the first one by a broker and then the loan advance Nemo, don't ever want anything to do with them ever again.:D

marshallka

cot1198 wrote: »

do not have the T&C's but do have loan agreement and settlement figure supplied by nemo. Do you think the FOS would pick up on this if it is a mistake or would I need to draw their attention to it?

Just added to the post again. I did not realise your loan was most probably over 25K and an unregulated ageement and rule 78 can still be used here. Sorry for confusing you.

A good read here for challenging it

http://www.practicalconveyancing.co.uk/content/view/10571/1/

di3004

Helloooooooooo there.:D

Have been going through my Lloyds tsb SAR again, there are so many bundles.... , don't know where to start.
Been with Lloyds for about 17 years or more, and they have obviously only given info as far back as 6 years, but loads and loads of it........:eek: .

Trying to get all the loan(s) info together, its all soooo confusing this !!!

cot1198

what is an unregulated agreement

cot1198

thanks for that marshallka

had a look at the link
not sure I understand it or if it applys to my case or not

could it be looked at by the FOS at the same time as the PPI case should it get that far as I'm sure it will or would I need to deal with as an other cliam

Thanks

Cot

marshallka

Just been reading on my Firstplus actual agreement and on the reverse it states that the PPI is paid to the insurer immediately you take the loan out and then on the front there is a 7 day cooling off period and our insurance was joint life cover and single sickness accident and unemployment.

Right, all seems ok but then you should have a cooling off period of at least 30 days with a life cover and also in their t and c's of the actual insurance it states if you cancel there will be rebate that is not in proportion to the policy but rather calculated under rule 78.

So you are only given 7 days to cool off and if you cancelled in 14 days (minimum cooling off period for a ppi policy i think) then you would only get a small proportion back. No wonder they would not let me cancel.

These are more unfair terms of Firstplus. More to add to my complaint to the FOS now I have found it.

There were no cooling off periods for the insurance really...
Unfair or what!!!!!!!!

di3004

marshallka wrote: »

Just been reading on my Firstplus actual agreement and on the reverse it states that the PPI is paid to the insurer immediately you take the loan out and then on the front there is a 7 day cooling off period and our insurance was joint life cover and single sickness accident and unemployment.

Right, all seems ok but then you should have a cooling off period of at least 30 days with a life cover and also in their t and c's of the actual insurance it states if you cancel there will be rebate that is not in proportion to the policy but rather calculated under rule 78.

So you are only given 7 days to cool off and if you cancelled in 14 days (minimum cooling off period for a ppi policy i think) then you would only get a small proportion back. No wonder they would not let me cancel.

These are more unfair terms of Firstplus. More to add to my complaint to the FOS now I have found it.

Unfair or what!!!!!!!!

Yes VERY UNFAIR !!!!!!!!!!:mad:
So like some of mine !!!

marshallka

cot1198 wrote: »

what is an unregulated agreement

ie over 25K...:D

di3004

Found this news about mis selling, dated 11 Sept 2008

http://www.dailymail.co.uk/news/article-1054670/Watchdog-urged-act-mis-selling-payment-protection-insurance.html

marshallka

cot1198 wrote: »

thanks for that marshallka

had a look at the link
not sure I understand it or if it applys to my case or not

could it be looked at by the FOS at the same time as the PPI case should it get that far as I'm sure it will or would I need to deal with as an other cliam

Thanks

Cot

You could state that you feel it unfair that rule 78 was used in your settlement and this breached the OFT (Who called it unfair and oppressive) unfair terms in consumer contracts regs 1999 as an unfair penalty. I don't know if they will ask you to do a seperate complaint or if they will look into the two but state that it was an unfair term perhaps. Worth a try - got to be.