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I sent off a template letter from this forum asking for the PPI back as I think I was Missold it.
I recieved this letter this morning. Any ideas on how I should respond?
I Note that you now believe 20 months after the conclusion of the policy for the following reasons. You state that it was suggested that the finance application would not be looked at favourably for the following if the insurance was not included and thast you would be reliant on the insurance which was not true to you.
Dealing with your points in turn.
With Regard to the application not being looked at favourably if the insurance was not included, we do not and have not in the past ever taken into account whether or not insurance cover is included when making a decision.
I enclose a copy of the Demands and needs document which detailed the recommendation made by the dealer together with your decision. This was then signed by yourself to confirm that after a discussion with the dealer you decided too take cover for Life Crit Illness Unemploy and GAP. I have reviewed the information on your application for finance and can see you stated that you were employed as a PA fof 7 months and a customer care manager for 1 year and 6 months. As such, the level of insurance recommended and purchased appears appropriate.
We therefore do not accept that you were mis-sold this policy.
If you are dissatisfied with the response you may refer the matter to the Financial Ombudsman Service and I enclose their Leaflet.
Any Ideas?
Or SHould I Give Up!
Please help. Its quite a lot of money and would really help me out...!
Was this for a car? I recently has a battle over PPI and got the same reply as you did.
Same type of story with the needs and demands that I had signed. I wrote back and got ahold of a decision maker and pushed back twice as hard and they have now settled. No need for the fos etc to get involved but I was willing to take it all the way.
Dont give in. Check out my case and Paint ball will be onto it im sure. She is a whizz at PPI and will give you some solid advice.
Was this for a car? I recently has a battle over PPI and got the same reply as you did.
Same type of story with the needs and demands that I had signed. I wrote back and got ahold of a decision maker and pushed back twice as hard and they have now settled. No need for the fos etc to get involved but I was willing to take it all the way.
Dont give in. Check out my case and Paint ball will be onto it im sure. She is a whizz at PPI and will give you some solid advice.
Hi Stewie!!
Thanks for the response.
Yeah it was for a car. Ill check out your case and get some tips!!
Firstly the blacked out areas are still visible, perhaps you should withdraw the doc's with your name on it and resubmit.
Our two cases are so alike.
The insurance supplier is St Andrews, Mine to was St Andrews; this is the actual supplier of the insurance and not the seller. I went through the same process of contacting them but more for getting information on the terms and conditions.
Firstly I contacted RBS who did the finance and then was pushed back to the actual car dealer. RBS didn’t have anything to do with the sales cycle. But they were very helpful in giving me a Breakdown of the payments made to PPI over the period.
I also supplied a breakdown of all payments made toward the PPI in the term with the 8% statutory interest, to the dealer. So they knew what they were looking at. I noticed you didn’t include a total you are claiming for.
My original claim was a template letter from another site; this did NOT help my cause as it was very vague and general. My second attempt was very specific and to the point. They will try and distract you with needs and demands statements etc. This is a smoke screen in my opinion. I took the whole lot, critical illness, breakdown, GAP the works. They seen me coming and sold me the lot.
They have not stated in communication the final response so I would consider the issue still open for negotiation. Set yourself a figure in mind and don’t settle for anything less. The whole process is a negotiation.
Have a look at my threads and feel free to copy some of the details on it and make them your own. Certain things they cannot be sure of are the conversations between you and the dealer, they will insist the dealer is competent and knows the process. I disagree with this as most dealers are hungry for a quick sale and high commissions on PPI. I used that a bit in my communications.
I will check in a bit later and add my thoughts; you have supplied a lot of detail.
I will wait to see if the Wizz Paintball has anything to say!!
You two should do a double act!"!!!
I think, unofficially, we are as a sort of Morecambe and Wise act lol
Originally Posted by 082stewie
Hi again,
Firstly the blacked out areas are still visible, perhaps you should withdraw the doc's with your name on it and resubmit. Absolute confidentiality is paramount because we have a lot of 'Guests 'who log on to this forum (DCA and bank staff, etc) ...
Our two cases are so alike.
The insurance supplier is St Andrews, Mine to was St Andrews; this is the actual supplier of the insurance and not the seller. I went through the same process of contacting them but more for getting information on the terms and conditions.
Firstly I contacted RBS who did the finance and then was pushed back to the actual car dealer. RBS didn’t have anything to do with the sales cycle. But they were very helpful in giving me a Breakdown of the payments made to PPI over the period.
I also supplied a breakdown of all payments made toward the PPI in the term with the 8% statutory interest, to the dealer. So they knew what they were looking at. I noticed you didn’t include a total you are claiming for.
My original claim was a template letter from another site; this did NOT help my cause as it was veryvague and general. My second attempt was very specific and to the point. They will try and distract you with needs and demands statements etc. This is a smoke screen in my opinion. I took the whole lot, critical illness, breakdown, GAP the works. They seen me coming and sold me the lot. Agree ... the template letters and help you'll get on here is much more effective
They have not stated in communication the final response so I would consider the issue still open for negotiation. Set yourself a figure in mind and don’t settle for anything less. The whole process is a negotiation.
Have a look at my threads and feel free to copy some of the details on it and make them your own. Certain things they cannot be sure of are the conversations between you and the dealer, they will insist the dealer is competent and knows the process. I disagree with this as most dealers are hungry for a quick sale and high commissions on PPI. I used that a bit in my communications.
I will check in a bit later and add my thoughts; you have supplied a lot of detail.
Stewie
As Stewie's claim is so similar to you own Levi, have a good read of his thread and how he proceeded to win very quickly ... if you need any help, I'm happy to jump in and there are lots of others on here who are very supportive and knowledgeable.
'Fortune favours the brave.'
Any advice given is purely on the basis of my own views and opinions and offered in good faith.
I think, unofficially, we are as a sort of Morecambe and Wise act lol
As Stewie's claim is so similar to you own Levi, have a good read of his thread and how he proceeded to win very quickly ... if you need any help, I'm happy to jump in and there are lots of others on here who are very supportive and knowledgeable.
Thanks for that Paintball.
Im a bit confused and am not sure where to go from here.
SHould I send an SAR to the car Finance company or St Andrews??
The loan was paid off early and im not sure if they took all the money for the PPI or stopped it then?
Can someone please check over this letter please and see if it is okay and correct! Excuse my bad Grammar and spelling!!!
Thank you for your letter dated 10th November 2008.[/font]
Thank you for taking the time to investigate my claim and the prompt reply to my concerns.
Please note my original complaint was a standard template letter from a consumer website, I have since revised my complaint after seeking legal council. I would like too add certain points and establish my case. In addition I will be forwarding a copy of this complaint to ......... and if no resolve has been reached within 14 days, I will proceed to the financial Ombudsman for consideration and mediation.
You have not for filled your obligation according to FSA guidelines and rules in fair treatment of customers. Below are other points I would like to make.
I was not asked whether I had any other insurance which would cover the loan
2. I was not told I could buy PPI elsewhere to cover the loan
3. I was led to believe that Payment Protection Insurance was compulsory due to the fact that I had only been employed for 7 months and previous to that 1 year and 6 months. [/font]
[FONT='Arial','sans-serif'][/font]
[FONT='Arial','sans-serif']4. I was not explained that there were certain exclusions within the policy that could affect me. [/font]
[FONT='Arial','sans-serif'][/font]
[FONT='Arial','sans-serif']5. I was pressured into buying the PPI due to the fact I needed a car and you stated that getting PPI would help my application and I couldn’t risk not getting the car.[/font]
[FONT='Arial','sans-serif'][/font]
[FONT='Arial','sans-serif']6. The Terms & Conditions of the small print were not fully explained to me.[/font]
[FONT='Arial','sans-serif']In your response you stated that you have never taken into account whether or not insurance cover would be included when making a decision.[/font]
[FONT='Arial','sans-serif']This is not true and I was told by your salesman that it was due to the fact that I had only been in employment for 7 months and previous to that 1 year and 6 months. If I had not taken the Payment Protection I would not have been looked on favourably.I signed for the Car and PPI on the 12th April 2006. The whole process of going through the PPI and signing the documents only took about 15 minutes. Is this enough time to explain the process of the finance, GAP insurance, PPI insurance, Breakdown Cover, credit checks and leaving a deposit. This date was gathered from my own records.Please bear in mind my previous statement that the original complaint was a template and I would like to defend my case as I am fully entitled to. I have no doubt my claim would be viewed with interest as I am sure you are aware the motor industry has been fined in excess of £175 000 recently of miss selling PPI recently. [/font]
No mention of comparative prices was made available to me on any insurance.[/font][FONT='Arial','sans-serif'][/font]
[FONT='Arial','sans-serif']I now contend that I was mis-sold this policy. I claim back all the premiums and interest I have paid in connection with the payment protection insurance policy plus statutory interest at 8% (or whatever rate the courts might order) from the first payment that I made until the date of your settlement of this claim.[/font]
Thank you for attaching the information regarding the Financial Ombudsman and the financial services authority. I would like to give you the opportunity to respond to my claim within 14 days of receipt of this letter before I take further action.[/font]
I avoided the whole SAR route as this would be a process of up to 40 days to receive the information.
Do you know how much you have contributed toward the PPI since you purchased the car? You will need this information. The best way is to call your finance provider and ask ever so nicely to fax it to you; I did this and was sent the same day. It helps to give a breakdown of the monthly costs and easier for you to add your 8% interest.
Sending a SAR to the actual insurer will not help much in my opinion as they are just the insurer, not the sales person.
Request the information directly from your financial provider; I say this because your case and argument stands with the seller being the dealership. BMW financial services will have a bank behind it.
Your letter is fine but I would touch it up a bit, note the dealership doesn’t actually have to let you know there are cheaper insurance options out there. It’s suggested but not insisted on and I feel you may push that a bit.
Did you take additional insurance with the car like GAP and Breakdown Cover? If you did, it helped me a little in explaining I didn’t understand the whole process.
I avoided the whole S.A.R - (Subject access request) route as this would be a process of up to 40 days to receive the information.
Do you know how much you have contributed toward the PPI since you purchased the car? You will need this information. The best way is to call your finance provider and ask ever so nicely to fax it to you; I did this and was sent the same day. It helps to give a breakdown of the monthly costs and easier for you to add your 8% interest.
Sending a SAR to the actual insurer will not help much in my opinion as they are just the insurer, not the sales person.
Request the information directly from your financial provider; I say this because your case and argument stands with the seller being the dealership. BMW financial services will have a bank behind it.
Your letter is fine but I would touch it up a bit, note the dealership doesn’t actually have to let you know there are cheaper insurance options out there. It’s suggested but not insisted on and I feel you may push that a bit.
Did you take additional insurance with the car like GAP and Breakdown Cover? If you did, it helped me a little in explaining I didn’t understand the whole process.
Hi Stewie,
Thanks for the response. Not sure about how much I have paid. I ended the agreement a year early so do they stop the payments then or add it on too my settlement figure? Sorry i am a bit niave.
I have asked for this information and they are getting back to me.
I had Life, Crit, illness, Unemploy and GAP on the policy.
The best thing would be to call the finance company and ask for a break down of payments you made toward the PPI only. They will give you all the monthly contributions and you can go ahead and calculate, make sure you have cancelled the PPI to. Mine carried on after I finished the payments (cheeky sods)
The courts are awarding something like 80% of all cases of PPI mis-selling to the customer, so thats great news and its within the best interests of the dealership to settle the case and move on.
But its very important you know what you are claiming, hence why I harp on about the payments and Breakdown of what you are actually claiming, the lump sum.
It really bugs me the amount of PPI claims the banks refer back to the fos when they are snowed under with claims at the moment that banks and other financial organizations could easily sort out.
No wonder this country is going bust with the amount of money banks waste in not sorting these claims.
It really bugs me the amount of PPI claims the banks refer back to the fos when they are snowed under with claims at the moment that banks and other financial organizations could easily sort out.
No wonder this country is going bust with the amount of money banks waste in not sorting these claims.
Regards
Leon
I understand the frustration but the banks do this to slow down the process of paying back big money if there are a multitude of claims in for a load of dosh the fee to the bank from the FOS is £450 per claim if a claim takes 6 to 9 months or longer they are still creaming in the interest and there is no guarantee all complaints will be upheld. They also know now the FOS are totally snowed under with claims. The FOS Adjudicator come up with a revised offer for me nearly 4 weeks ago any sign of cheque yet, NO CHANCE. Delays from the start to the end.
Keep up the fight.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
PPI Rejection!
back as I think I was Missold it.
Reply With Quote
Originally Posted by 082stewie
Re: PPI Rejection!
