PPI Reclaiming discussion Part II

maxdp

di3004 wrote: »

Wow thanks hun, will take a look now then.:D

The one we have with Lloyds now are both for Buildings and Contents together.;)

Hi Di

Had house and contents with Lloyds last year went onto think Supermarket .com or one of those and halved the cost by splitting the house and content so they are both with different firms.

di3004

tiggrae wrote: »

yes, if it's mis selling then it's £10k - £3k rebate = £7k

if you were going for unfair rebate only and not mis selling it would by the amount you'd paid (say £2k) so that would be £10k - £2k - £3k = £5k

Just coming back to this then again, so in my case although I would have to double check the amount they did rebate me ( this was not in cash amount though) but reduced this by removing the ppi when settling to move on for the loan advance. For mis selling this though would I have to try to reclaim the interest in the amount that was paid in too?

I think a fair bit was reduced in the rebate but as this was to what I believe mis sold, to put it back right shouldn't they do this as if we did not have this from the start?
So wheras they would have only have had the loan to calculate on settlement and not that of ppi too ?

I just want to make sure I am doing the right thing before I write down what I have to reclaim for.;)

Thanks.
x

marshallka

di3004 wrote: »

Just received an email back from the FOS about requesting "fast tracking":

Dear Mrs XXXXX

Thank you for your e mail.

Taking into account your comments below, I have passed your case file to a manager to see if your case can be fast tracked. Please forward to [EMAIL="casework.support@financial-ombudsman.org.uk"]casework.support@financial-ombudsman.org.uk[/EMAIL] the other complaints that Mr (hubby) has lodged with us and we will arrange for them to be passed to a manager to see if they can be fast tracked. Also please attach to your e mail a copy of your comments below.

We will be in contact with you as soon as we can.

Kind Regards

Have you had to send them documents etc??

The_Manager

Hi

I took out a mortgage with Northern Rock in summer 2000. This was arranged for me by a 3rd party intermediary who stated that if I didn't take out a PaySafe PPI policy, then I wouldn't be able to get the mortgage. This I believe is a clear case of mis-selling as the policy was not compulsory.

Since October 2007, I have been pursuing a reclaim action against Northern Rock, Cardif Pinnacle and the 3rd party intermediary over this. I have paid £15.45 ish a month into this policy every month since taking out the mortgage and have NO paperwork or statements to show for it. The money goes to Cardif Pinnacle.

I have actioned this with the FOS who have recently replied stating that they can do nothing since the policy was taken out before October 2000.

The facts remain that I continue to pay into Cardif Pinnacle every month for a service that I have no contact with, reports for, evidence of or need for. The 3rd party is I believe now retired but is still alive. All 3 of the parties involved deny that it is their responsibility, although Northern Rock state that it was the 3rd party who introduced the policy. He denies having heard of Cardif Pinnacle.

Having now fallen at the FOS hurdle, what should I do next?

Thanks in advance.

di3004

marshallka wrote: »

Have you had to send them documents etc??

They did not mention this but it looks as if they will get in touch about this where they may then request the evidence for this, think this is what happened the last time.;)

marshallka

The_Manager wrote: »

Hi

I took out a mortgage with Northern Rock in summer 2000. This was arranged for me by a 3rd party intermediary who stated that if I didn't take out a PaySafe PPI policy, then I wouldn't be able to get the mortgage. This I believe is a clear case of mis-selling as the policy was not compulsory.

Since October 2007, I have been pursuing a reclaim action against Northern Rock, Cardif Pinnacle and the 3rd party intermediary over this. I have paid £15.45 ish a month into this policy every month since taking out the mortgage and have NO paperwork or statements to show for it. The money goes to Cardif Pinnacle.

I have actioned this with the FOS who have recently replied stating that they can do nothing since the policy was taken out before October 2000.

The facts remain that I continue to pay into Cardif Pinnacle every month for a service that I have no contact with, reports for, evidence of or need for. The 3rd party is I believe now retired but is still alive. All 3 of the parties involved deny that it is their responsibility, although Northern Rock state that it was the 3rd party who introduced the policy. He denies having heard of Cardif Pinnacle.

Having now fallen at the FOS hurdle, what should I do next?

Thanks in advance.

You can request a subject access request from them. I would as this gives you all the data information that they hold of you and they have to provide it to you within 40 days. This costs to you £10 but its worth it to find out who is lying here. Someone sold it to you??

Also, has no-one of these companies said about cancelling the policy? If you are still paying for this now but you don't know anything about it.

There are always the courts here to make a claim??

Also is this a stand alone policy as you say its a certain amount a month or was it a single premium policy??

Suject access request template below


Dear

Re: Account number:

In the first part under the Data Protection Act 1998:

Under the Data Protection Act 1984 and 1998, and including the right of subject access under these acts, please supply me with a complete list of transactions and charges relating to the above accounts held with you since they were opened.

Additionally where there has been any event in my account history over this period which has required manual intervention by any member of your staff or any other person, I require disclosure of any indication or notes which have either caused or resulted in that manual intervention or other evidence of that manual intervention in relation to my business with you.

If you are unable to supply data relating to manual intervention because there has been no such manual intervention then please be kind as to confirm this in your response to this request.


For the avoidance of any and all doubt, I reiterate:

I hereby request that you supply me with any and all historical data in your possession which, in any way appertains to me, including (but not exhaustively) a copy of the original signed executed agreement; statements of account; duplicate statements and/or print outs of all account transactions; all internal and external correspondence sent or received by you including memo’s, logs, notes, screen prints and transcripts; notes of manual interventions such as telephone attendants' notes, copies of stored telephone conversations, internal and external emails; any other information held on any/all types of media in any relevant filing system (microfiche included).

If you have disclosed any information to a third party (with or without my express permission), will you please include details of this in your reply, along with notes of any legal action passed or pending (to include a true copy of default notices, court orders and the like).

Where any information that you provide includes any charges, for example returned payments, late payment fees, and so forth, would you please advise your breakdown of actual costs (liquidated damages) incurred for each charge, and the Term or Condition on which you rely upon to claim such a charge.





I also require that you forward, within the above mentioned time scale, a true copy of the Terms and Conditions that were in force at the time my account was opened, and any subsequent amendments to those Terms and Conditions.

I enclose the statutory maximum fee of £10.00 to access ALL data held by XXXXX about myself. You should be fully aware of your statutory obligations under the Data Protection Act and that any failure to comply with this request will involve a complaint to the ICO as well as potential legal action.

You have 40 days in which to comply with this request.

This communication has been sent Recorded Delivery so I can ensure compliance on these issues within the legislative timeframes.

Yours Sincerely








(thanks Laini again and again)

di3004

Here are the breakdown of the first loan when settling this yet I do have other paperwork which shows different so will add this hear anyway.


The value of the original agreement settled by new loan outstanding balance (on the day the further advance settles it) plus any interest that has accrued on the account since the last montly instalment was paid.

In your individual case:
Balance = £51022.52 + Accrued Interest @ £181.16 = £51203.68

When the Payment Protection Policy is taken, the TOTAL outstanding balance of the account is the loan amount + the payment protection premium.

In your individual case:
Loan amount @ £43,000 + Payment Protection Premium @ £8492.50 = £51,492.50.

However, upon settling of the original agreement we give a rebate for the above mentioned protection (ie: for the remainder of the 60 month term that has not been needed).

In your individual case:
Payment Protection insurance Premium = £8492.50

Number of months cover ran for (ie: length of time the original agreement ran) = 9 months
Rebate applied to account (for 51 months of unused cover) = £7644.43

(Therefore the 9 months of cover cost £848.07)

The above rebate (£7644.43) was then applied to the earlier figure (ie: the balance of the account + accrued interest), and the result was the amount that was used to settle the original agreement.

In your individual case:
Balance + Accrued Interest: £51203 - £7644.43 (the rebate of the payment protection).

Figure used to settle the original Nemo agreement = £43559.25.
..................................................................................................

I have been working this out too::::

The loan for this was Nov 2005, and the new loan advance was July 2006.

Now does that mean 8 months of cover ran for and not that of 9 they have stated as shown above, because as you know the first payment does not come out until the following month after taking out the policy.

marshallka

di3004 wrote: »

They did not mention this but it looks as if they will get in touch about this where they may then request the evidence for this, think this is what happened the last time.;)

At least its moving for you.:D

di3004

marshallka wrote: »

At least its moving for you.:D

Thanks.:D
I have a way to go yet with all these claims but its making sure I get them right first lol.:D
I just don't want any comebacks.:rolleyes:

The_Manager

marshallka wrote: »

You can request a subject access request from them. I would as this gives you all the data information that they hold of you and they have to provide it to you within 40 days. This costs to you £10 but its worth it to find out who is lying here. Someone sold it to you??

Also, has no-one of these companies said about cancelling the policy? If you are still paying for this now but you don't know anything about it.

There are always the courts here to make a claim??

Also is this a stand alone policy as you say its a certain amount a month or was it a single premium policy??

Who should ask for the subject access request from?

Cardif Pinnacle have on several occasions asked me if I want to cancel, and I have always said no, on the grounds that for the continuation of this complaint, I don't want to let down my side of the agreement. Maybe this is pointless??

It's a fixed price per month - 8 years at £15 per month = approx £1500