Thread: PPI - Final Response - What Next?

Looking for the expert’s guidance here please?

My OH took out a personal loan with NR during 2006, at the time of the telephone application PPI was mentioned, my partner stated PPI was not required as they are paid from work, and also as they have an ongoing medical condition they didn’t believe PPI would be covered, the agent stated the loan application was approved complete all the ticked boxes and return the loan application form.

The loan application came through, and although there is a separate box for PPI, my OH just signed it.

Having read the numerous threads on here, in December 2008 wrote to NR stating believed PPI mis-sold due to ongoing medical condition at the time PPI was applied to the loan, and as no loss of income due to sickness PPI was not appropriate.

NR replied enclosing PPI questionnaire, returned questionnaire uncompleted stating as no claim has been made on the policy, all details are held on NR database.

Received final response letter stating although the call was not recorded at the time of loan application, they believe the policy was not mis-sold, also the PPI box was ticked and signed by the applicant, they go on to say the applicant had the opportunity not to sign the ticked PPI box, and all PPI options would have been discussed at the time the of the loan application, they finish by saying, the applicant had 30 days from the loan application to cancel any unwanted PPI (well we didn’t know about CAG then)

The letter states, this is our full & final response, should you be unhappy with this, you have the option to refer your complaint to the fos.

Any suggestions / advice please?

No replies, hummmm :cry: :cry:

Hi Von,

Hope you are well.

I do notice that some posts are very quiet with anyone responding.

Hopefully someone will respond in good time.

Womble

Hi Womble

I'm well thanks, how are you?

Thanks for the acknowledgement, I'm hoping someone can point me in the right direction what to do next, someone in the know may pop by.

Received final response letter stating although the call was not recorded at the time of loan application, they believe the policy was not mis-sold, also the PPI box was ticked and signed by the applicant, they go on to say the applicant had the opportunity not to sign the ticked PPI box, and all PPI options would have been discussed at the time the of the loan application,well this is for them to prove they finish by saying, the applicant had 30 days from the loan application to cancel any unwanted PPI (well we didn’t know about CAG then) Well i guess at the time you where not awear that most if not all ppi policies where a money making machine that has been grossly oversold to the detriment of the consumer

Regards

Pompeyfaith

Oh why not go to the ppi in the press forum at the bottom and print off and include a few press releases

Or the other option is to just had your claim over to the fos to investigate but be warned they have a backlog and the FOS is very likely to take 9/12 mths to come to a conclusion but i would go that way instead of the court route because the judges decision is final plus if you do not get a favorable response from fos you can then go via court.

Regards

Pompeyfaith

Originally Posted by pompeyfaith

Oh why not go to the PPI in the press forum at the bottom and print off and include a few press releases

Gee that's a good idea pompey, should I send thm the press releases/

Hi GL

Thanks for replying

Originally Posted by Goldlady

Hi, is this loan still ongoing?

Yes, although were on a dmp

Originally Posted by Goldlady

If it was 'front loaded' onto the loan then they have even less legs to stand on.

What's front loaded?

I'm going to take both pompey and your advice, is there a template letter strong enough to get my point over?

Here you go have a look though these and yes print and send a few with your letter.

http://www.consumeractiongroup.co.uk/forum/ppi-media/

Regards

Pompeyfaith

Originally Posted by Goldlady

Added to the initial loan balance so that interest was charged on it from day one

GL

I'm look at the CCA it has figures made up on it, it looks like it maybe front loaded

Originally Posted by Von Greenbach

GL

I'm look at the CCA it has figures made up on it, it looks like it maybe front loaded

This may confirm if it's front loaded

Originally Posted by pompeyfaith

Here you go have a look though these and yes print and send a few with your letter.

http://www.consumeractiongroup.co.uk/forum/ppi-media/

Regards

Pompeyfaith

pompey thanks I'll get on it tomorrow

is indeed frontloaded as the loanprotect was added to the loan

Originally Posted by pompeyfaith

is indeed frontloaded as the loanprotect was added to the loan

Humm thanks for the confirmation pompey, GL said it was good for me and bad for them how does that work then?

Because there has been a lot of publicity about front loaded single premium policies in the press which all points in the consumers favour.

The FSA,fos,CC have all been regulating against it also.

In fact the FOS has been upholding 80% of claims they have been dealing with and that is now rising.

That's good to hear pompey, you mentioned last night to right back and disagree with there fianl response, I'm useless at thistype of thing, I'll have a look at some threads on here to see if I can draft some type of letter together.

You're a star pompey.

Can I ask this, if in the end the complaint is upheld and any PPI is refunded does that mean the loan is questionable?

What I mean is I believe the loan was granted ONLY because PPI was taken out.

Originally Posted by Goldlady

Have you sent them a Subject access request?

No GL because they said it was there final response.