PPI Reclaiming discussion Part II

rdm2007

I have a loan with EPF and cancelled my PPI it cost £1300 i am only 2 years into the 6 (although the ppi only covers 5years??) my refund was only £250 is this right?

brunettegirl

Do I need to send my original letter with this one and I assume recorded post is best.

Thanks for your help - much appreciated.

marshallka

brunettegirl wrote: »

Do I need to send my original letter with this one and I assume recorded post is best.

Thanks for your help - much appreciated.

No, just send the new letter with all the references on and i would send it recorded post too.

tiggrae

brunettegirl wrote: »

Black Horse PPI
I sent the first letter and they replied the same day to say get lost you could have cancelled. I was never given documentation about the PPI and I was told without it I couldn't have credit for the car loan. Have done the second letter, but not sure if I need to go into more detail.....

I am writing in response to your letter dated Tuesday 20th May 2008, with regards the insurance sold with my Carloan.

I do not feel your letter has offered a satisfactory justification that my policy was sold fairly, reasonably and within my best interests so I request that you look into my complaint again. The leaflet was not supplied at the time of purchase and I was informed by the salesman that without the Gold PPI I would not be able to take out the car loan. If I do not receive a more favorable response within 14 days I shall be taking my complaint to the Financial Ombudsman.

you might want to add in that you never received the details so how could you cancel (this is in breach of rule 78 of the Consumer Credit Act) and in any case the FSA have stated 'there has been an over reliance upon documentatation' as apposed to the policy being explained.

tiggrae

rdm2007 wrote: »

I have a loan with EPF and cancelled my PPI it cost £1300 i am only 2 years into the 6 (although the ppi only covers 5years??) my refund was only £250 is this right?

the excuse given by policy providers for low rebate figures is that they pay for the policy up front - so what that's their problem !!! I think you've got an excellent reason for mis selling as the policy doesn't cover the full period of supposed cover

brunettegirl

tiggrae wrote: »

you might want to add in that you never received the details so how could you cancel (this is in breach of rule 78 of the Consumer Credit Act) and in any case the FSA have stated 'there has been an over reliance upon documentatation' as apposed to the policy being explained.

Not sure if Im being thick here- do i say i never recieved the details and that its a breach or rules? Or just that i never recieved the details?

Kaia_2

Well , the letter I was expecting has arrived today...
(they had just 2 days left to reply...since the claim was served on them on the 10th May).
Walker Morris are the solicitors acting on their behalf and they have sent an acknowledgement of service and intend to defend all of the claim.(what a surprise...lol!)
I believe that would need to be in by June 7th (28 days from being served)

Also this morning, regarding my SAR request, had a letter from the lender saying they will be sending out the requested information within the statutory timescales.
I sent it on 15th May so they have 40 days from that date ...therefore the deadline for that would be 24th June.

What should I be doing next?... what is the next step....?

marshallka

Kaia wrote: »

Well , the letter I was expecting has arrived today...
(they had just 2 days left to reply...since the claim was served on them on the 10th May).
Walker Morris are the solicitors acting on their behalf and they have sent an acknowledgement of service and intend to defend all of the claim.(what a surprise...lol!)

Also this morning, regarding my SAR request, letter from the lender saying they will be sending out the requested information within the statutory timescales.
I sent it on 15th May so they have 40 days from that date.

What should I be doing next?... what is the next step....?

Does that mean they will let it go to court. The b******s. I really want you to win with them. They are acting like they are above the law all the time. :mad:

marshallka

Kaia wrote: »

Hi homer_j

It is always the case that a broker will receive a fee or commission.
I have been reading bits from the original information pack I had back in 2002, luckily we kept it, hadnt realised until a few weeks ago when we found it all up the attic.
(FREEDOM FINANCE)
Now on the leaflet (2002) it states NO FEES, and on the folder itself it states "We guarantee that you will pay no fees or charges other than those shown on your credit agreement and you will not pay any commission to representatives.
It goes on to say......We fully observe the FISA code of conduct.

There are no charges or fees mentioned on my CCA so does this mean that Freedom Finance sold the loan and PPi to me on behalf of GE Money for nothing, just out of the goodness of their hearts so to speak:rotfl:
Was this some sort of sales gimmick do you think?

Kaia, on my SAR from firstplus there is a printed document off their records that states "Source/commission details"

there is then headings of "advance", "premium" "APR" "PPP" "Adv" "PPP ""rate" "rate" and yeild"
Don't understand it but under the first heading advance comm % there is a details bit with "5.00" on and then amounts "850.00". What do you think this is. Can anyone in the know explain.

and this has source Freedom Finance PLC. I understand they did not bbecome PLC until 2003 and we had our loan in 2000

Kaia_2

marshallka wrote: »

Kaia, on my SAR from firstplus there is a printed document off their records that states "Source/commission details"

there is then headings of "advance", "premium" "APR" "PPP" "Adv" "PPP ""rate" "rate" and yeild"
Don't understand it but under the first heading advance comm % there is a details bit with "5.00" on and then amounts "850.00". What do you think this is. Can anyone in the know explain.

and this has source Freedom Finance PLC

Hi Marshallka
Dont know, but that sounds like a fee or a commission to me???
I knew they would acknowledge at last minute, Marluc said they did the same with him, so was expecting it.
Wasnt in the mood to receive that today of all days, got a funeral this afternoon