PPI Reclaims not covered by the FOS

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  • smitchy73
    smitchy73 Posts: 2,558
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    2nd letter away to First Response asking them to reconsider and giving further points and reminding them of the first point altogether in that I was advised by the car salesman that by taking the PPI, due to my financial history I would virtually guarantee getting the loan as this would ensure they got paid should I get sick, or laid off, or have an accident, and working for the government, we get full sick pay, very very rarely get laid off and lastly if I died in an accident have very nice cover to settle the account!! But of course they are still adamant that their staff receive no incentive for selling the policies.
    I have also asked for a breakdown of my total amounts payable, amounts paid, and what rebates I received within my final payments after I sought an early repayment figure as well as a figure I could get to for a Voluntary Termination.
    Let's see what happens.
    Thanks to all the competition posters.
  • petermb wrote: »
    dont give up Katie. You will win.
    Peter

    Its all very well telling Katie she'll win eventually but how? I am in exactly the same situation with Black Horse as Katie. If their own regulatory body backs them and they are not answerable to the FOS for loans from this period how can their hand be forced? Is their any grounds for taking them to court for missold PPI.

    Are you able to advise of what the appropriate next step should be?
  • gt568
    gt568 Posts: 2,493
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    kevinelly wrote: »
    Peter

    Its all very well telling Katie she'll win eventually but how? I am in exactly the same situation with Black Horse as Katie. If their own regulatory body backs them and they are not answerable to the FOS for loans from this period how can their hand be forced? Is their any grounds for taking them to court for missold PPI.

    Are you able to advise of what the appropriate next step should be?

    If I was you I would threaten them with a claim through the courts. See post number 1389 for my letter in the PPI reclaiming discussion thread.
    {Signature removed by Forum Team}
  • Thanks for that. I have read your letter and this seems to refer your own bank that would be covered by the FOS. Would the same arguments apply in court to PPI sold by a loan company that is not regulated by the FOS?
  • givenup
    givenup Posts: 29 Forumite
    kevinelly wrote: »
    Thanks for that. I have read your letter and this seems to refer your own bank that would be covered by the FOS. Would the same arguments apply in court to PPI sold by a loan company that is not regulated by the FOS?

    I am in the same postion as yourself with Black Horse. I had a first response advising that it was not sold incorrectly blah blah blah and they would not be refunding.
    I took mine out in June 2002 so I wrote back advising I would go to the press and name the member of staff who sold me the PPI. I gave them 21 days to make me an offer and 28 days later I am still waiting!
    I will now proceed to naming and shaming the member of staff and send a letter to various financial papers and send them a copy as well.
    I dont expect to win but they had £1345.00 from me and I want pewopel to know how exdactly Black Horse made me have the PPI as I was told NO PPI, NO LOAN:mad:
  • gt568
    gt568 Posts: 2,493
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    kevinelly wrote: »
    Thanks for that. I have read your letter and this seems to refer your own bank that would be covered by the FOS. Would the same arguments apply in court to PPI sold by a loan company that is not regulated by the FOS?

    I couldn't go to the FOS with my bank because it was too long ago, so I can't see what difference it would make to your case.
    {Signature removed by Forum Team}
  • Can someone just confirm what the start date is for the FOS having responsibilty for regulating this area? The Hellifax have came back to me and said that I was well within the timescale for using the FOS, although I seem to recall hearing a date of 2004 or 05 which is only when the FOS got invovled in this. Would welcome anyone's confirmation.
    Almost debt-free, but certainly even with the Banks!
  • smitchy73
    smitchy73 Posts: 2,558
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    I had decided in my 2nd letter to the finance company only to ask for details of the breakdown of what I had paid and for what, including my final payments which inlcuded taking my payments up to half for the car finance(for which I was terminating by returning to them) and had also been advised I had to pay for the Insurances in full before the credit agreement could be finalised.

    I have now had the breakdown still don't think it is right and any rebate I would say is only down to interest due on it, not a rebate on the actual insurance, I am therefore tomorrow going to write back again asking them to look again, they also failed to mention that they were members of the FLA they only mentioned that they weren't covered by the FSA.

    I'll keep you all posted as I learn of it, although I have to say they have been fairly quick in responding so far.

    PS Happy New Year:beer:
    Thanks to all the competition posters.
  • smitchy73
    smitchy73 Posts: 2,558
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    Has anyone had any luck with the FLa in regards to any queries sent to them, just not seen anything on here about success's??
    Thanks to all the competition posters.
  • MiniLaura
    MiniLaura Posts: 482
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    For all the information given regarding PPI on this site, I cannot find anything to answer my specific situation.

    I took out loan when in pernament job. Was made redundant and then unemployed for 6 months. Claimed on the PPI when unemployed.

    Now in a fixed term contract which means insurance is invalid - says so in terms and conditions.

    I cancelled the loan and took out new one with no insurance to pay off previous loan. BUT

    I have paid the entire insurance of the loan ( 5 years, cancelled after 1 yr) and feel i should be entitled to some of the insurance back as a percentage of time used? INsurance was added on in lump sum.

    Now really would like some advice on how to go about this? Branch ahs been most unhelpful and letter to insurance company didnt work. Where/Who do I write talk to about this? Its HBOS and loan unsecured.

    I feel this is an intereresting case study and may be other people in similar positions unable to be helped by general advice and guides covering the most "normal" situations.
    :j Debt-Free-Wannabe! :j
    Declutter/Ebay/Savings
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