Thread: Scousers9 ppi thread

New thread for you scouser

Post away

Similar Threads:

• Not sure if this is the right thread....
• Hi everyone - its my first thread!

Re: Full Subject access request for PPI
Hello, Just a quick request for help and to check wether ive done right or not concerning PPI.

Heres the letter I sent to Halifax and I will type the their answering letter in afterwards, sorry for jumping on here If a mod would kindly start another thread with this I would be grateful.

Here's My letter

I purchased the above policy from you in [Febuary2003] in connection with the [loan agreement] referenced above.
I believe that I was mis-sold this policy for the reason(s) given below, and wish you to investigate my complaint according to your normal complaint procedures.
I was not told that the insurance was optional.[/font]
I was led to believe that my application for credit would be rejected if I did not take out the insurance.
The policy exclusions were not explained to me either before or at the time I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me.
I now believe the insurance was unsuitable for me as I was [self employed] at the time I took out the policy and was not made aware of the specific exclusions relating to unemployment cover.
If my complaint is upheld I require a refund of all premiums paid to the policy, plus any additional interest charged to me because of the PPI. I would also like to claim statutory compensation in view of the fact that I have been deprived of the use of this money.
Please now investigate my complaint within the eight weeks allowed to you.
Yours faithfully

And here's their reply.

Halifax Boffins UK.

Dear Scouser9,
Thank you for your recent letter.

I am sorry to hear your concerns regarding the insurance applied to your loan.

We are keen to deal with your concerns as quickly as possible, however our investigation may take some time. The Financial Services Authority allows us up to eight weeks to investigate complaints and it is our intention to deal with your concerns within this timesacale and provide updates when appropiate.
Please find enclosed a copy of our leaflet, which tells you how we will handle your complaint.

Yours
Leanne Clegg

Now when I took this loan out I was working full time, then I had a serious accident at work which made me diasbled for life, the halifax knew this because of doctors and specialist letters, which I supplied as I thought when needed, now I cannot pay this loan at any price and its been handed over to Moorcroft &*&&^ heads who are badgering me,

I thought that the insurance would kick in with payments because i couldnt work.
It has never happened Im 1986 pound in arrears and like I said I cannot pay a dime, I have 2 daughters and they seem to take up every penny and what with living expenses getting worse. I really feel like cutting my throat.

any help or advice would be gratefully received.

sorry for jumping in
regards
mike
__________________
Keep claiming the right

Mikey

Hi Folks just thought I would update my last message with Halifax's answer to my letter post #24
What I need to know how is what di I do next ie I have tried to work out what they owe me and I dont understand the CAGs Spreadsheet for this. So any help would be apprieciated.


Dear Scouser9,

2nd December 2008

I refer to your recent complaint regarding the Payment Protection Insurance (PPI) on your Halifax loan.

First, on behalf of Halifax, please accept my sincere apologises that you have felt the need to complain. All such complaints are taken seriously indeed and to ensure I have understood and therefore addressed your complaint, I will now take the time to summarise your concerns.

You believe you were mis-sold insurance taken out with the above loan agreement for the following reasons:

• You were not told that the insurance was optional
• You were led to believe that your application for credit wouild be rejected if you did not take out the insurance.
• The policty exclusions were not explained to you either before or at the time you took out the insurance. You were therefore unable to make an informed decision as to whether this insurance was appropiate for you
• You now believe the insurance was unsuitable for you as you were self employed at the time you took out the policy and was not not made aware of the specific exclusions relating to unemployment cover.
• You request a refund of all premiums paid to the policy, plus any additional interest charged to you because of the PPI, You would aslo like to claim statutory compensation in view of the fact that you have been deprived of the use of this money.

As part of my investigation into the sale of your PPi, I have considered the information available to me.

Having do so, and in view of the fact that you are a valued customer, I have decided to pay you an amount which will put you back in the position you would have been in had you had not taken the insurance. This is done without admission of liability and in full settlement of your complaint about the PPI on your loan.

Where an account you hold with Halifax is in arrears it is our Policy to offset the amount of redress we are offering against any currently outstanding balamce. By taking this action wea are helping you to ensure that interest and / or charges in relation to your loan are reduced. Therefore, if you are in arrears, the redress will be used to reduce or clear the arrears and any surplus will then be paid to you.

It is anticipated this payment will be made within the next month. If at this time you hold an open account. If you do not hold an open account with Halifax or Bank of Scotland the settlement will be paid to you by cheque.

I trust that this offer has addressed your complaint fully, however you can of course contact me directly on the telephone number at the top of this letter should you wish to discuss any aspect of my review further.

Yours sincerely

Claire Hardy

Customer Relations Manager

Tel 01244 - 695533

Where do I go from here guys and gals

thanks in advance
Mike

Hi Bobby,

They have not mentioned what they are paying back,or when exactly they just mention about four weeks.

I have tried to work out the figures useing the spreadsheet but I dont really understand how that works and in which way to write my next letter of attack, all help would be apprieciated

here are some figures I hope these help

Cash Loan 6,000
Charge for credit 1,860
Total 7,860
Insurance Loan 1,385,52
Total Charge for Insurance Loan 398.28
Total Insurance Payable 1,783,80

Monthly payments for 60 months 160.73
annual percentage 10.9%
monthly interest 0.869%
Total Loan 7,368.52
total charge for loan 2,258,28
total repayable by me = 9,643,80

regards
mike

Originally Posted by scouser9

Hi Bobby,

They have not mentioned what they are paying back,or when exactly they just mention about four weeks.

I have tried to work out the figures useing the spreadsheet but I dont really understand how that works and in which way to write my next letter of attack, all help would be apprieciated

here are some figures I hope these help

Cash Loan 6,000
Charge for credit 1,860
Total 7,860
Insurance Loan 1,385,52
Total Charge for Insurance Loan 398.28
Total Insurance Payable 1,783,80

Monthly payments for 60 months 160.73
annual percentage 10.9%
monthly interest 0.869%
Total Loan 7,368.52
total charge for loan 2,258,28
total repayable by me = 9,643,80

regards
mike

Hello Mike

Here to help if I can, not too bad with the spreadsheets:grin:

What was the date in 2003 when the loan started please.

As soon as you can let me know this I will work out the interest that you are after on top of the £1,783.80 at the statutory 8% and also at the interest rate (contractual) they charged you.

Just looking at their response to your complaint, they are stating that they will reduce the balance outstanding to ??????Moorcrofts. I certainly would be arguing regarding this. This is money that they took from you, causing your indebtness to them. You now wish to control the refund to you, so you can decide what to do with it!!!!!!!!!!!!!!!!!!!!!!! !!!

Is Moorcroft acting under their instructions, or did they sell/assign the debt to them. This is important to know, if Moorcroft are only acting on their behalf, they are paying themselves back this money, that they took in the first place, so where is the fairness in that

If they sold the debt to moorcroft, it would have been for a fraction of the amount, so why should Moorcroft get it either. These are just a few points to consider before you accept the offer etc.

Come back with the date of the loan and the other bits of inf regarding Moorcroft etc and then we can have a look at a nice little letter to them

Hi Hellasnofury,

Firstly let me thank you for your help and your fast response's.

I will try to answer as you have asked the questions.

1. The date was 22/02/2003

2. I received a letter from Moorcroft on 3rd Dec 2008 as follows.

Dear Scouser9,
I write further to your recent correspondence dated 22nd November 2008
in relation to the above account. I am the Supervisor of the department that deals with queries and complaints of the kind that you have raised.

Obviously it is necessary for me to fully investigate the circumstances surrounding your complaint and it will also be necessary for me to discuss the position with our client (Halifax), I have therefore placed your account on hold and I would ask you to accept my assurance that i will revert to you as soon as I possibly can.

Thank you for your assistance

Mrs K Murray
Operational Support Supervisor.


Then 9 days later I recieve this letter from people i dont know at all regarding same account.

IQOR Recovery Services Ltd Preston


Dear Scouser9

Halifax PLC have passed your Debt to IQOR Recovery Services Ltd with instructions to recover your outstanding balance in full, Accepted methods of payment overleaf.

If you do not take action to resolve this matter immediately, we may commence legal action in the county court / sheriff's office. This may result in a judgement being recorded against you.
Any judgement or Decree entered against an individual is recorded on the public register and is likely to affect their credit status and ability to obtain further credit in the future.
We may also instruct a debt collector to visit your home and collect the debt personally if you do not make an acceptable payment proposal.

If you think you cannot pay the debt in full at present then call us immediately between 8.00 am and 9.00pm Monday to Friday ti discuss how you are going to pay this debt.

YOU SHOULD MAKE YOUR PAYMENTS DIRECTLY TO US, AS THIS IS ONLY WAY TO ENSURE THAT OUR ACTION STOPS IMMEDIATELY

This Moorcroft outfit was worrying enough now these fellows have come on board from where and why when I still have a dispute with Halifax is beyond me.

I will appreiciate any letter ot comments that you may think will help me, but firstly I think we have to stop Halifax paying money ???? of dont know how much to them, as it is my money not theres

Thanks I await your response in anticipation

mike

Hi again,

I also received this letter on the 25/11/2008 in regards to same account.

Midas Legal Services
PO BOX 402
George House
John Street
Stockport
SK1 3 EG

Dear Scouser9

Re:- Halifax

LIGATION WARNING

We have been advised that you have failed to reach a repayment agreement with Moorcroft Debt Recovery Ltd cvoncerning the above account and have been asked to prepare a file for review prior to commencement of any legal action.
To prevent further action you must contact Moorcroft Debt Recovery Ltd at the following address.

Moorcroft Debt Recovery Ltd
P.O. Box 17
Moorcroft House
2 Spring Gardens
Stockport
SK1 4AJ

Tel:0161 475 2808

Failure to contact Moorcroft Debt Recovery Ltd by the 02/12/2008 may result in the issue of legal proceedings without further notice.



Now my question is this with all these people sending my letters who has given them permission for my data to be shared, and I am very confused with all these people saying one thing and another who is the biggest threat, what do or who do i get intouch with first, ooooohh my head hurts.
Any suggestions anyone

regards

mike

Hello Mike,

Jeepers it looks like the Halifax has sent the world and his wife after you

Have you sent anybody a request under section 77/78 for a true copy of your original credit agreement. Halifax or Moorcroft or iqur recovery services??????

It looks to me that the halifax have only instucted these bully boys to pursue you for payment, they don't look like they have sold it.

The intended litagation letter is just probably moorcrofts inhouse solicitors attempt to scare you, me thinks.

Will have a look at the figures for you:grin:

Cash Loan 6,000
Charge for credit 1,860
Total 7,860
Insurance Loan 1,385,52
Total Charge for Insurance Loan 398.28
Total Insurance Payable 1,783,80

So they charged £1385.52 and this attracted £398.28 in interest.
Total insurance charged was £1,783.80 (rather expensive on a £6,000 loan)

I worked it out at 8% stat interest from 22/2/2003 to be £834.33 so the total required is £2,618.13

At their rate of 10.9% interest on top is £1,136.77 so the total required is £2,920.57.

Start with the 10.9% and then if needed demand the 8%.

Come back with the ca request if you can please:grin:

Hi, Hellasnofury thanks for the figures what do you mean by the ca request please

mike

Originally Posted by scouser9

Hi, Hellasnofury thanks for the figures what do you mean by the ca request please

mike

Hello Scouser,

Have you sent a legal request under section 77/78 of the consumer credit act 1974 for a true copy of your credit agreement. This legal request costs you £1 and by law they have twelve workings days to provide you with it, the credit agreement, the terms and conditions and a statement of the account (what has been paid and when and how much is outstanding).

It they do not comply with this legal request, the account can be placed into legal dispute, until they provide you with it:grin:.

I would possibily send one to the lovely moorcroft first and that might make them back off for a while longer:grin: If they are pursuing you, they must provide you with the evidence that they legally can. You do have rights you know:grin:

This is the link for the letter, you need letter N, enclose a £1 postal order, print you name and sign with a big line through you signature (so you know if you see it again) send it recorded delivery and keep everything in a file, your can also track the letter via the royal mail website so you kno they received it, you can even obtain a print of a signature.

Creditors and DCAs - Letter Templates & Budget Planner

On another note have you sent the Halifax a SAR for all of the information that they hold about you?????

Hi Hellasnofury,

Yes ive received a full copy of my loan agreement its a true photocopy with my signature and everything on it, I had a copy from Halifax and Moorcroft, and since that they have closed my bank account but not my savings account.
I also have a laid out payment by payment from Moorcroft is that what you mean.
I have a telphone number to the woman dealing with my case and its on my previous posts and she says to get in touch to discuss the account,? what do you think.
Perhaps I give her the figures you have worked out and she pays me (wallah) as if it was that easy.

And Ive another money matter with Carcraft that needs to be worked out on a spreadsheet could you please do that one for me as well hellasnofury please, im useless with figures and spreadsheet.

Thanks in advance

mike

Hi here we go with the Carcraft Robbery or Loan as they put it!!!!

Start date 6/8/2004

CASH PRICE 6,090,00
GAP INSURANCE 150.00
PPI 1,258,00
DOC FEE 100,00
OPTION TO BUY 50,00
CASH DEPOSIT 100.00
TOTAL CREDIT 7,548.00
HIRE PURCHASE 4,528,80
BALANCE TOTAL 12,176,80

APR 28.5
48 MONTHS @ 251.60

I have received my cca request in the form of a full photo copy of my agreement and with my signature.

I pay Marsh Finance of Rochdale my payments.
And I approached them with a Miss Selling PPI claim and they said the following.

Dear Scouser9,

In response to your letter re mis-selling of Payment Protection Insurance,(PPI), the policy was sold by Carcraft who are independent to Marsh Finance and are in no way linked, Marsh Finance Ltd are purely the financing company and not the seller of the policy.
Carcraft is fully approved by the FSA to sell insurance policies. Therefore we are unable to comment re the claims that the policy was mis-sold and not liable for any compensation

So Ive already sent a mis-selling letter off to Carcraft just waiting for reply.

What do you think so far, Ive got the Carcraft telephone number off CAG and will be useing it as soon as I know the figures

Thanks in advance
Mike

Originally Posted by scouser9

Hi Hellasnofury,

Yes ive received a full copy of my loan agreement its a true photocopy with my signature and everything on it, I had a copy from Halifax and Moorcroft, and since that they have closed my bank account but not my savings account.
I also have a laid out payment by payment from Moorcroft is that what you mean.
I have a telphone number to the woman dealing with my case and its on my previous posts and she says to get in touch to discuss the account,? what do you think.
Perhaps I give her the figures you have worked out and she pays me (wallah) as if it was that easy.

And Ive another money matter with Carcraft that needs to be worked out on a spreadsheet could you please do that one for me as well hellasnofury please, im useless with figures and spreadsheet.

Thanks in advance

mike

Hello Scouser,

Are you sure that your loan agreement, does not have any little blips to it.

This is a very interesting thread and relates to Multiple agreements, can you post up your credit agreement, ommiting your personal details for us to have a look, see if we can spot and clinks in it. I do believe their is arguement regarding a loan with PPI applied, comes under restricted (ppi) and unrestricted use (loan)

Multiple agreements falling within section 18 CCA 1974
Have a read and see what you think?????

Originally Posted by scouser9

Hi here we go with the Carcraft Robbery or Loan as they put it!!!!

Start date 6/8/2004

CASH PRICE 6,090,00
GAP INSURANCE 150.00
PPI 1,258,00
DOC FEE 100,00
OPTION TO BUY 50,00
CASH DEPOSIT 100.00
TOTAL CREDIT 7,548.00
HIRE PURCHASE 4,528,80
BALANCE TOTAL 12,176,80

APR 28.5
48 MONTHS @ 251.60

I have received my cca request in the form of a full photo copy of my agreement and with my signature.

I pay Marsh Finance of Rochdale my payments.
And I approached them with a Miss Selling PPI claim and they said the following.

Dear Scouser9,

In response to your letter re mis-selling of Payment Protection Insurance,(PPI), the policy was sold by Carcraft who are independent to Marsh Finance and are in no way linked, Marsh Finance Ltd are purely the financing company and not the seller of the policy.
Carcraft is fully approved by the FSA to sell insurance policies. Therefore we are unable to comment re the claims that the policy was mis-sold and not liable for any compensation

So Ive already sent a mis-selling letter off to Carcraft just waiting for reply.

What do you think so far, Ive got the Carcraft telephone number off CAG and will be useing it as soon as I know the figures

Thanks in advance
Mike

Ok the figures on this one

ppi £1,258
interest £865
Total £2,123

Interest at 28.5% is £2,658 Total to be refunded is £4,781

Interest at 8% is £746 Total to be refunded is £2,869

Again look at the arguement relating to Multiple agreements

By all means phone them, but they can say anything over the phone and not do it. You need a paper trail of letters as evidence to get them

Hi hellasnofury,

Thanks for the excellent work and quick reponse, I dont understand what blips are, I have read the info link you sent and it seems com=nfusing to me but I get the drift about adding PPI after the point.

I will scan and post both of loans in a short while im not to sure how to do it but i will sort it. I will post both meaning Halifax and Carcraft documents

Thanks again

regards
mike

Hi Hellasnofury,

Just a thought how long back can you claim mis-sold PPI, as someone said to me that it would be like bank charges, ie that we can only go back 6 years, do you think this is true.

As I am unsure about claiming one of my claims other than Halifax and Carcraft.

I still cannot post attachments so I cannot post my loan agreements for you to peruse, perhaps I should ask a mod to intervene eh?

Obliged for all your help.

Mike

Thanks Pompey

regards

mike