PPI Reclaiming discussion Part II

maxdp

marshallka wrote: »

No job yet. I do not drive so have to bus it and want something really to fit around my daughter yet but our mortgage is sooo high and we are already on interest only. I have always considered having to sell up. We made the mistake of putting all our debts on the mortgage and intelligent finance do a big wage to mortgage loan and now we are trapped.

I have just worked out our mortgage is actually over 5 times our net income. This is our problem. I can't make the money stretch that far.

God Marshallka thats huge. I hate worrying about money all day all night:eek: no wonder I have bags under my eyes. Even got to the stage where I would not plant things in the garden in case we had to move. We should be OK to christmas then who knows

maxdp

Cheaptrick wrote: »

LLOYDS TSB

Please can anyone advise me, I have sent off the relevant letters from the templates and have had the following reply from LLoyds TSB:

You took out a loan on 15th July 2003 for £11,000 and you elected to protect your risk by purchasing an insurance contract for a "oneoff" premium of £2344.59 plus interest.

As you have a number of concerns, I will respond to each one individually as outllined below.

You have made me aware that you were self employed at the time you took out this policy.

My Findings

You have stated that you were a self employed customer at the start date of the policy. A self employed customer is eligible for the Policy and dependant on circumstances at point of claim, would be covered for all the benefits under the Policy. This includes the unemployment benefits, the accident and sickness benefits, the total and permanent disability and life cover together with Positive Job Solutions. The definition of "employed" under the Lloyds TSB policy includes a person who is self employed.

In the circumsances in the absence of any further detail from you of how your status as self-employed might have affected your claim and what you allege should have been discussed with you at point of sale. I am afraid I have no alternative other than to reject your complaint.

You have made med aware that the seller did not advise you that the policy was optional.

My Findings

LLoyds TSB did not lead customers to believe that the insurance was compulsory or that the application for credit would be compromised in the absence of cover. Lloyds TSB took steps to ensure the customer was fully aware of the optional nature of cover.

We attach a copy of the Consumer Credit Agreement which you signed and which set out separately:

(i) the fact that there was a cash loan and the loan for the loan protection insurance together with the respective amounts.

(ii) the monthly repayments for the loan and for the loan protection insurance.

A separate box is completed on the Loan Agreement to confirm that you wished to take the optional loan protection and further box confirmed that the premium had been advanced as part of the loan. You were therefore made fully aware of the optional nature of the policy. (I would like to point out at this stage that the boxes were ticked by a computer, I personally did not tick these as I thought that this was standard)

In the absence of any further information from you, I am afraid that I have no alternative other than to reject your complaint.

You made me aware that the seller did not give you full information of what the policy would or would not cover.

My Findings

lloyds TSB training and staff briefings reminded its advisors of the importance of providing the customer of information concerning the policy including the cover and benefits and any significant and unusual reswtrictions or exclusions to its customers. You would have been sent a policy booklet together with yuor loan agreement. Before signing the loan agreement it advises that you shoulod read all the terms and conditions and where relevant the terms and conditions within the policy booklet. The policy document contained a table setting out the benefits and cover within the policy: and the way in which the cover may change dependent on the circumstances or age of the customer, at point of claim.

In the absence of any further information from you, I am afraid I have no alternative but to reject your claim.

You have made me aware that you are concerned that the seller had no financial background and that the policy was not sold in your best interest.

My Findings

Lloyds TSB provide training to all sellers of PPI. Sellers were issued with the General Insurance Standards Council ( GISC ) code which set out guidelines for sale of general insurance together with a handbook for all sellers of General Insurance and a work book to complete. Ongoing briefing documents and guidance where issued in respect of the product. Sellers were also subject to ongoing monitering and supervision. Lloyds TSB sellers clearly had a financial background and were trained to recommend loan protection insurance in the event that it matched a customers requirements. In the absence of any further information, I must therefore reject your complaint.

I am sorry that my decision was not more favourable to your complaint. Should you wish for the Financial Ombudsman to independently review your complaint, you must refer your matte to them within 6 months of the date of this letter. I enclose a copy of the self explanatary leaflet about this service.

I AM AT A LOSS OF HOW TO PROCEED NEXT. HAS ANYONE RECEIVED A SIMILER TYPE OF LETTER WHO CAN ADVISE AND HELP ME!!

Thank you.

Were the insurance people London and Edinburgh if so ask them to provide you with the paperwork that sets out how much commission they were paid and also the copy of the agreement that they sent you with this revealed.

Bog standard letter do not be put off. Challenge everything they say and put it back in their court. They have not put FINAL Response on their letter either so FOS will not look at this until they have.:D

di3004

Hi folks.

Back now.:D

Postie been and received a letter from FOS (Casework Support Department), just a letter dated 30 September 2008 to acknowledge obviously the Endeavour complaint form, (they did not mention Endeavour though), but the other complaints are already being going through the process etc.

30 September 2008

Dear Mr & Mrs XXXXX

Thank you for your correspondence, which has been received safely.

We are currently receiving very high volumes of enquiries and we will provide you with a full response as soon as we can.

If you need to contact us in the meantime, please quote reference number
XXXXXXX/XX/CCCH

Yours sincerely

Casework support Administrator

Tel
Email
......................................................................................................
So the usual first response then.;)
Now just give it a few months longer for the next response.

I'm sure this is the first usual letter...... am I right ?

So many different ones lately its getting all confusing.

marshallka

di3004 wrote: »

Hi folks.

Back now.:D

Postie been and received a letter from FOS (Casework Support Department), just a letter dated 30 September 2008 to acknowledge obviously the Endeavour complaint form, (they did not mention Endeavour though), but the other complaints are already being going through the process etc.

30 September 2008

Dear Mr & Mrs XXXXX

Thank you for your correspondence, which has been received safely.

We are currently receiving very high volumes of enquiries and we will provide you with a full response as soon as we can.

If you need to contact us in the meantime, please quote reference number
XXXXXXX/XX/CCCH

Yours sincerely

Casework support Administrator

Tel
Email
......................................................................................................
So the usual first response then.;)
Now just give it a few months longer for the next response.

I'm sure this is the first usual letter...... am I right ?

So many different ones lately its getting all confusing.

I have just had a phone call from the FOS but only the support team stating that they still have not had any details from Barclays Firstplus or the Co-op and that our comments had been noted about fast track. I said to him that my co-op one was already with an adjudicator and he just said that nothing had been done as they STILL had not had anything from the Co-op. I am getting quite p**sed off at this now.

di3004

marshallka wrote: »

I have just had a phone call from the FOS but only the support team stating that they still have not had any details from Barclays Firstplus or the Co-op and that our comments had been noted about fast track. I said to him that my co-op one was already with an adjudicator and he just said that nothing had been done as they STILL had not had anything from the Co-op. I am getting quite p**sed off at this now.

Bliming eck what are they playing at ?:mad:
Same response every time !!!
I don't blame you for feeling this way - its so agonising not knowing!!!! :mad:

amtrakuk

Hi there, I sent off my letter recorded delivery about 2 weeks ago, how long do I have to wait until I get a reply?

marshallka

amtrakuk wrote: »

Hi there, I sent off my letter recorded delivery about 2 weeks ago, how long do I have to wait until I get a reply?

You have to give them 8 weeks for a full and final response.

di3004

amtrakuk wrote: »

Hi there, I sent off my letter recorded delivery about 2 weeks ago, how long do I have to wait until I get a reply?

It should be anytime hun.
Did you also check this out on track and trace - on the royal mail website, (the date it reached them)?

I'm taking it you meant the FOS, or do you mean the loan company?
Is so its 8 weeks as from your letter just like Marshallka says.
Sorry if I have got this wrong.....:o

marshallka

di3004 wrote: »

It should be anytime hun.
Did you also check this out on track and trace - on the royal mail website, (the date it reached them)?

I'm taking it you meant the FOS, or do you mean the loan company?
Is so its 8 weeks as from your letter just like Marshallka says.
Sorry if I have got this wrong.....:o

Di, it was the loan company...

di3004

marshallka wrote: »

Di, it was the loan company...

Cheers for confirming this hunni......lol:D