PPI Reclaiming discussion Part II

marshallka

http://www.which.co.uk/advice/cancelling-your-ppi-policy/index.jsp

How to cancel

If you’re really sure you don’t need the insurance, it’s easy to cancel it. Everyone has a legal right to cancel a policy within either 14 or 30 days of the start date (depending on the terms), but you can still cancel the policy even if you have kept it beyond this period.


We never had the legal 14 to 30 days then. We were each given 7 on the agreement. And i mean right to cancel for a full refund - legally.

marshallka

di3004 wrote: »

Ta.;)
Please remind me of when yours were taken out hun, sorry I have forgot again due to all these complaints and dates lol.....:o
I have absolutely nothing added about Cancelling the ppi either, I have been checking and checking but nothing.

Taken 2000 and settled 2003.

di3004

marshallka wrote: »

http://www.which.co.uk/advice/cancelling-your-ppi-policy/index.jsp

How to cancel

If you’re really sure you don’t need the insurance, it’s easy to cancel it. Everyone has a legal right to cancel a policy within either 14 or 30 days of the start date (depending on the terms), but you can still cancel the policy even if you have kept it beyond this period.


We never had the legal 14 to 30 days then. We were each given 7 on the agreement. And i mean right to cancel for a full refund - legally.

Wonder why I cannot find anything that mentions about cancelling on mine? .

marshallka

Here :j

Many consumers don't know it but, by law, they have the right to cancel any PPI policy within the first 14 days of accepting it (or 30 days if life cover is included). In this case, a full refund of the cost of the PPI must be made - but expect some small administration charges to be deducted first.


http://money.uk.msn.com/guides/asktheexperts/creditcardsandloans.aspx?cp-documentid=6264357

di3004

marshallka wrote: »

Taken 2000 and settled 2003.

So just 2 years after taking this out then ?

Mine 15 months they sent the settlement figure and cleared this in 16 months !!

marshallka

http://www.moneymadeclear.fsa.gov.uk/news/product/unfair_contracts/ppi/ppi_information.html



Challenging unfair terms in financial contracts

We can challenge firms that use unfair terms in their standardised customer contracts. Standardised customer contracts are contracts that haven’t been individually negotiated between the firm and you, the customer.


What might be an unfair term?

An unfair term may, for example:

• allow the firm to change the terms of the contract, without telling you why or without giving you notice as soon as possible so you can leave the contract immediately;
• bind you to hidden terms;
• exclude or limit your legal rights unfairly; or
• charge you a disproportionately large sum if you don’t fulfil any of your obligations under the contract.

marshallka

di3004 wrote: »

So just 2 years after taking this out then ?

Mine 15 months they sent the settlement figure and cleared this in 16 months !!

3 years Di. We asked to cancel and they said no that we would have to refinance. Obvioulsy it was because of the fact that we would have had to pay it in full anyway as these are the worst offenders...Troness said about firstplus doing the rebate and using rule 78 on 25% of the rebate or something. I am beginning to understand a little now.

di3004

marshallka wrote: »

3 years Di. We asked to cancel and they said no that we would have to refinance. Obvioulsy it was because of the fact that we would have had to pay it in full anyway as these are the worst offenders...Troness said about firstplus doing the rebate and using rule 78 on 25% of the rebate or something. I am beginning to understand a little now.

blimey that is so wrong, you had the right to cancel anytime......:mad:
that firm must be the worst out of the worse......:rolleyes:

(have not seen Tron_ess here for a little while) ??

di3004

marshallka wrote: »

http://www.moneymadeclear.fsa.gov.uk/news/product/unfair_contracts/ppi/ppi_information.html



Challenging unfair terms in financial contracts

We can challenge firms that use unfair terms in their standardised customer contracts. Standardised customer contracts are contracts that haven’t been individually negotiated between the firm and you, the customer.


What might be an unfair term?

An unfair term may, for example:

• allow the firm to change the terms of the contract, without telling you why or without giving you notice as soon as possible so you can leave the contract immediately;
• bind you to hidden terms;
• exclude or limit your legal rights unfairly; or
• charge you a disproportionately large sum if you don’t fulfil any of your obligations under the contract.

like this here
http://www.moneymadeclear.fsa.gov.uk/about_the_fsa/unfair_contracts/unfair_contract_terms.html

marshallka

di3004 wrote: »

blimey that is so wrong, you had the right to cancel anytime......:mad:
that firm must be the worst out of the worse......:rolleyes:

(have not seen Tron_ess here for a little while) ??

But both you and me (and lots of others too) had no right to cancel as as soon as we signed the agreement we were bound to it from after 7 days and there were no cancellation rights from then. If we cancelled after the 7 days then we would only receive a rebate and not the full cost. No 14 to 30 days to cancel, only 7...

Unfair term to have this on the same agreement which therefore

exclude or limit your legal rights unfairly

and then

charge you a disproportionately large sum if you don’t fulfil any of your obligations under the contract.