PPI Reclaiming discussion Part II

marshallka

racheldazo wrote: »

PPI reclaiming from M&S Loan 2000

Hi can anyone give any advice? Basically took out a loan in Oct 2000, for £10100.51 and the ppi was £2414.48 with interest it was £3455.76. It was payable over 84 months and i did settle it about 3 months early. Wrote to M&S asking for the ppi back as i believe i was mis-sold it and had a letter back saying that, they wouldnt be refunding any premiums paid as at the time i took out the loan, they were not regulated by the FSA, and in addition was not registered with the GISC. Therefore when the policy was sold M&S Finanicial Services acted in its capacity of an unauthorised intermediary and as such the sale does not fall within my voluntary jurisdiction, so they will not be refunding any premiums. Do i have any leg to stand on by taking it to the FOS?
any advice will be greatly received.
thanks

If the loan was pre 2005 and they were not members of the gisc then the FOS cannot help but there are always the courts.

If you do do a claim through the courts there is always a chance that the limitations act could apply in that its over 6 years old and you may risk losing more money. Its up you how strong you feel.

Tiggrae may be able to advise further on this.

racheldazo

Thanks, the thing is i had cover in place that would of protected me anyway. Any idea on the sort of costs for court? And do you know of anyone that has won?
thanks

marshallka

racheldazo wrote: »

Thanks, the thing is i had cover in place that would of protected me anyway. Any idea on the sort of costs for court? And do you know of anyone that has won?
thanks

Plenty have won and also some have lost but like i say its a risk with the limitations act. There is a piece in pf legalisation that i think can over rule this but Tiggrae is best advising here as she has lots of knoweldge in this area. Its about when you became aware of this misselling. She may be on later. She does come on most days.

di3004

Good morning Marshallka and everyone else.;)

Both me and hubby was chatting last night and he said he now just wants to get on with the Rebate issue with Endeavour because we're almost there sort of thing, think his depression can't handle it right now even though I told him I would be dealing with it.

So I have been getting on with that FOS form, hubby reckons it will all come back to us to go back to the broker again (who are the dissolved Click) who sold it and not the sidelines of these :rolleyes: , he is so mega stressed today...... .

Electrcian been, everything passed for the Swalec cover but unfortunately when checking there are no earthing wires behind the the light and wall sockets, only the kitchen from when we had that fitted, so there's more expense to find.......:rolleyes: .

RWH1981

I have just sent my letter off to the ombudsman, after 3 letters and numerous phonecalls to RBS requesting my previous loan documentation and receiving nothing back after 3 months of trying I have just decided to pursue this via the ombudsman. To be honest I am currently considering leaving the RBS after some really poor service over the last year and this is the last straw. Once this has been sorted I will be moving account.

Anyone else have that much hassle just trying to get their previous loan documentation?

Fingers crossed I get something back from the ombudsman and win my case. I dont know how anyone can see it in the banks favour. I have only had 2 or 3 previous loans with RBS and going by my mums loan agreements with the same bank around the same time I wouldnt have been able to claim if I took if due to an illness I have had since I was 3 years old even though the bank told me it would cover it, I was told the first time it was compulsary, the second time I knew it wasnt compulsary but I was then emotionally blackmailed and the advisor told me you could walk out here get hit with a bus and be killed and your mum would be left to pay your loan off, she then stated that it would be good for my application if I took the protection so I panic'd and took the protection at £65 per month as I needed the loan as I could no longer afford my car payments and needed to refinance.

di3004

RWH1981 wrote: »

I have just sent my letter off to the ombudsman, after 3 letters and numerous phonecalls to RBS requesting my previous loan documentation and receiving nothing back after 3 months of trying I have just decided to pursue this via the ombudsman. To be honest I am currently considering leaving the RBS after some really poor service over the last year and this is the last straw. Once this has been sorted I will be moving account.

Anyone else have that much hassle just trying to get their previous loan documentation?

Fingers crossed I get something back from the ombudsman and win my case. I dont know how anyone can see it in the banks favour. I have only had 2 or 3 previous loans with RBS and going by my mums loan agreements with the same bank around the same time I wouldnt have been able to claim if I took if due to an illness I have had since I was 3 years old even though the bank told me it would cover it, I was told the first time it was compulsary, the second time I knew it wasnt compulsary but I was then emotionally blackmailed and the advisor told me you could walk out here get hit with a bus and be killed and your mum would be left to pay your loan off, she then stated that it would be good for my application if I took the protection so I panic'd and took the protection at £65 per month as I needed the loan as I could no longer afford my car payments and needed to refinance.

Hi there hunni
Please could you remind me the date of this one?

Good luck hun, I hope the FOS sort this one out for you and what I was going to ask, did you actually request for a SAR and pay £10 for this (for documentation)?
Cheers

marshallka

Still no reply from the adjudicator from my emails from Friday. Suppose they will eventually reply. I hope so anyway.
Having the boiler done so back and forth today.

di3004

marshallka wrote: »

Still no reply from the adjudicator from my emails from Friday. Suppose they will eventually reply. I hope so anyway.

If you have not heard by this afternoon, maybe give them another ring.;)

When they were dealing with my Nemo complaint I must admit I emailed them at least a few times a week.....:o due to anxiety.
Its very frustrating I know because all you want is a simple answer.;)

I hope you hear from them with some good news for a change hun.

di3004

marshallka wrote: »

Still no reply from the adjudicator from my emails from Friday. Suppose they will eventually reply. I hope so anyway.
Having the boiler done so back and forth today.

I had mine serviced last Friday lol.:D

RWH1981

di3004 wrote: »

Hi there hunni
Please could you remind me the date of this one?

Good luck hun, I hope the FOS sort this one out for you and what I was going to ask, did you actually request for a SAR and pay £10 for this (for documentation)?
Cheers

How do you mean date? the date I first requested details or the date I sent my letter to the ombudsman?

I dont know what a SAR is, I explained to the bank what I was requesting and they said to write them a letter and hand it into this branch. Which I did. I hadnt heard anything back for weeks phone up to get an update on what was going on. They said they had no details of any letter. They then tell me to hand it into another branch, which I did. Dont hear anything for ages again and phone up they again have no record of any letter. They tell me to had it into one of the branches I got the loan from which I do, same again no reply phone up no record of my letter.