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Hi
Was wondering if anyone could give me some advice. I took out a loan with A&L 3 years ago. In March received a letter from them re PPI (didn't know I had one) I rang them and advised them that I didn't know I had one because I was on benefits and a PPI was no use to me. They sent me a form to sign which I did and returned it to them. They then sent me a new credit agreement to sign for the remainder of the loan minus the PPI
I signed that and returned it over a week ago. I rang them today to find out what was happening to the money they owe me. Was told it was with their cheque dept for issue but due to some fault in their system they didn't know when the cheque would be sent out. Seeing I have a current account with A&L I asked could the money not be transferred to there, was told they didn't have the facility to do this and it was agreed by them that all payments would be made by cheque. I think this is a stalling technique how can a bank be unable to transfer money into an account. By the time the cheque arrives I will have to travel 10 miles to my nearest branch to lodge the cheque and god knows how long the cheque will take to clear. If I owed them money god knows how much would be added to it in penalty charges. Does anyone know if I can report this to anyone.
Many Thanks
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My Wins
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Any opinions are without prejudice & without liability. Do not take any legal action on my advice alone. Almost everything I know concerning the law I learned from this site.
Please note, I will not give advice by PM. Please send a link to your thread and I will do my best to answer there.
Hi
Was wondering if anyone could give me some advice. I took out a loan with A&L 3 years ago. In March received a letter from them re PPI (didn't know I had one) I rang them and advised them that I didn't know I had one because I was on benefits and a PPI was no use to me. They sent me a form to sign which I did and returned it to them. They then sent me a new credit agreement to sign for the remainder of the loan minus the PPI
I signed that and returned it over a week ago. I rang them today to find out what was happening to the money they owe me. Was told it was with their cheque dept for issue but due to some fault in their system they didn't know when the cheque would be sent out. (delaying tactic they owe folks a ton of money for mis-selling) Seeing I have a current account with A&L I asked could the money not be transferred to there, was told they didn't have the facility to do this and it was agreed by them that all payments would be made by cheque. I think this is a stalling technique how can a bank be unable to transfer money into an account. ( I would agree) By the time the cheque arrives I will have to travel 10 miles to my nearest branch to lodge the cheque and god knows how long the cheque will take to clear. If I owed them money god knows how much would be added to it in penalty charges. Does anyone know if I can report this to anyone.
Many Thanks
It all depends on the timing. If they have agreed to a refund then that is good but keep tabs on them and if they do not refund within your timeframe bang in a complaint to the fos. Every complaint against a company (after 4 complaints) exacts a fee from the FOS against the company of £500 so it may be worth while reminding them if they do not send the cheque as promised you will bang in a complaint for their failure to settle your complaint and that will cost them.
You may also wish to remind them of a recent fine from the FSA....
you may fall within the dates for mis-selling see this extract from the above link and also check the link fully it may give you the ammunition you need to get a full refund.
"For three years from January 2005 to December 2007 A&L sold approximately 210,000 PPI policies to customers seeking a personal loan at an average price of £1,265, but there was a general failure by advisers to give customers details of the cost of PPI. In addition A&L sought to find reasons to sell PPI without properly considering what customers needed."
It would seem your loan falls within the period of the mis-selling they were fined for by the FSA I would remind them of this and state you will make further complaints to the FSA if your refund is not forthcoming within 7 days.
Be a shame if they had to fork out another £7m
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.
I can't believe there is not more jumping up and down over this on the forum, there must be more than 2 caggers waiting for protracted refund from A+L?
Do you think I should start a specific new thread inviting people to share their payout experiences (or lack thereof)?
Do you think I should start a specific new thread inviting people to share their payout experiences (or lack thereof)?
I would start you own thread it keeps everything in order. At the moment you are in nancyspains thread this makes it difficult to follow and advise two caggers at the same time.
Dedicated thread of your own would be better. Hijacking a thread as it is known as is also against the site rules.
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.
Using CAG Toolbar will generate much needed income - Download Here
Confused by Simple Interest? Confounded by Compound Interest? Read my Interest Tutorial
My Wins
GE Money Won unconditionally May 2007 NatWest Won unconditionally August 2007 BrighthouseWon unconditionally August 2007 GoldfishWon unconditionally April 2008 (including CI on the basis of Sempra) Clydesdale Financial Services (now BPF) Won unconditionally February 2008
Any opinions are without prejudice & without liability. Do not take any legal action on my advice alone. Almost everything I know concerning the law I learned from this site.
Please note, I will not give advice by PM. Please send a link to your thread and I will do my best to answer there.
Received cheque for PPI this morning. Thanks to all for the help:grin:
Great result nancy
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.
A&l Ppi
(didn't know I had one) I rang them and advised them that I didn't know I had one because I was on benefits and a PPI was no use to me. They sent me a form to sign which I did and returned it to them. They then sent me a new credit agreement to sign for the remainder of the loan minus the PPI
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