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Found 16 results

  1. Hello all, I successfully claimed my PPI back from FirstPlus and am now looking in to the possibility that the entire loan was missold. I recently wrote to them outlining my issues, which were: • The mortgage was not suitable for me. • The adviser did not properly establish my attitude to risk. • I was not advised that there were other options, such as a DMP, that I could have pursued. •Your adviser did not give me examples of the cost of a Capital and Repayment mortgage compared to the lower costs of an Interest Only mortgage. •When remortgaging to consolidate my debts I was not advised that it would be cheaper for me to put all of my loans, credit cards and finance onto my existing mortgage rather than remortgaging. •I was not advised that by remortgaging I was exchanging my short term debts for a long term debt by adding it to my mortgage. It was not explained to me that although I would be lowering my monthly outgoings initially, I may well be lengthening the term of my debt and vastly increasing the amount of interest that I would be paying. Loan was originally for £51K over 25 years. I then received a phonecall from FirstPLus asking to reiterate my concerns, only to be told that based on my concerns and as my loan had be through a broker I needed to contact them (Compass), if they were still trading?!, to resolve my issue. When I successfully reclaimed all my PPI, which was brokered at the same time as the loan, I went straight to Firstplus who dealt with it directly. This all sounds a bit smoke and mirrors to me, so would appreciate any advice/info you could give. Cheers
  2. Talktalk phoned my father and told him his broadband contract needed renewing but told him that he was getting a free TV package as well. He got the reciver but he couldnt get it working so ignored it. However, they have charged him £172 for the "free" package and probably an increased monthly telephone/broadband charge as well. he has no paperwork to say what went on so i have obtained power of attorney to deal with them over this matter. Problem is, how do I get them to understand the authority i have so they desist from contacting my elderly parents and take me seriously. An email addy for the CEO would be a good start and then he can tell me where I send the legal papers and wont be able to avoid theconsquences of his own policies on forced selling of dud services.
  3. Hello all, I opened a restaurant in April and in March I arranged to have 2 phone lines and broadband with BT. In April I switched my energy supply to BES energy as their rates were about half of what British Gas wanted. Shortly after this I got a call from BES telecom and this is where it all went wrong. They wanted me to switch both of my lines and my broadband to them as they were cheaper. I told them that I was in contract with BT and if I moved I would receive a bill with cancellation charges which would remove the whole point of me moving as I wouldn't save any money. I was assured by the salesperson that as the contract with BT was so young I would not get any cancellation charges. I asked him to repeat this and he assured me it was the case, saying if he was wrong I could just stay at BT and there would be no harm done. Imagine my surprise when I then received a letter from BT with cancellation charges of around £700! I called BT and explained the situation for them to tell me that the only way I could not pay the charges with BT was for me to keep BT as my supplier. BT told me that one of my lines had moved to BES but nothing else had. BT would now move that line back to BT. I called BES and told them I was no longer moving to them and they tried to talk me out of it but I just told them and put down the phone as they wouldn't stop going on. Move on a few weeks and I'm still getting reminders from BT about not paying the £700 bill. I called them and explained the situation and they told me it was their mistake and that the charges would be dropped. This same scenario has happened 7 times with BT. My line gets restricted, I call them to complain and explain the situation, they say they will get the charges cleared off and reinstate my line, then it happens again approx 10 days later. Last week it happened again so I called BT and spent 90 minutes on the phone with them. They told me that the reason the charges weren't being removed from my account is because the line they were supposed to get back from BES was still with BES and therefore I had cancelled it! I explained that they were supposed to move the line back and they admitted they had forgotten. Looking at my bank account I now see that I have been paying BES £23.99 per month for this line. I told BT to move it back once and for all and they told me it would happen within 14 days. Now here is where it gets interesting. I just received a call from BES who told me that there had been an application to remove one of my lines back to BT. I said yes that is correct. He then informed me that there would be a £600 cancellation charge for this which would need paying within 14 days. I explained the whole situation and that I only moved as I was assured by their salesperson that I wouldn't receive any cancellation charges from BT. He then asked me what proof I have of his salesperson saying this. Of course I don't have proof. He then went on to tell me that their '3rd party sales people' were not regulated and that no matter what was said, I had to pay the £600. I told him that I was mis-sold and he said 'prove it'. I said 'so basically your sales people can say whatever they like to get someone to sign up and they can lie to people and you allow this?' He just kept repeating 'its up to them what they say' So, I believe I have been mis-sold and I'm in a bit of a predicament. Not only has all of this been a major hassle and cost me hours on the phone, it looks like it might end up costing me £600 too. I'm a new business and we are struggling, I can't afford to pay this bill. Any help would be greatly appreciated.
  4. Has anyone had recent dealings with a company called Big Green Book? I paid for a directory listing last year on the basis that the fee would be repaid if I had no appropriate enquiries - the only 'enquiry' I received was a really strange phone call from someone at BGB saying he was phoning on behalf of a company who wanted to bring me their business. When I asked for the name of the company or a contact there, he became rather vague. I asked for an email to clarify the situation but, of course, it never materialised. And when I tried to contact BGB to find out what was going on no-one replied to me. A year on and needless to say they are not repaying my money and as no paperwork has ever materialised there is not much chance of seeing it again. What I am doing is reporting it to Action Fraud. A couple of colleagues in the same field (counselling) have come forward with similar stories. I would be interested to hear from anyone else who has had dealings with this company.
  5. Have you been trapped into -paying for Experian's ID theft insurance? Well you should claim the money back We have been trying to get some one to take notice of this story for over a year. Finally BBC Radio 4 MoneyBox ran the story a few weeks ago and today, Ruth Lythe of the Daily Mail had her article about this misselling published. http://www.bbc.co.uk/programmes/b03xzs1l Experian declined to comment on the Moneybox programme. I understand that there were strenuous efforts by Experian to prevent both the BBC broadcast and the the Daily Mail piece from going out. Go figure. Clearly in respect of Experian's Credit Expert bundled insurance package, there is no enquiry as to whether the product is wanted - or whether it is appropriate. For instance -many people have an equivalent insurance as part of their credit card bundle or maybe their house contents insurance - so buying the forced id insurance product, Experian customers may effectively be buying duplicate insurance. So what happens if you ID is stolen and you have to invoke the insurance? Which policy do you choose? This is bound to become a problem because it is a fundamental principle of insurance policies that they will not make duplicate pay outs for a single loss. So immediately you have the opportunity for each insurer to deny the loss on the basis that you have duplicate insurance and that it should be the other company which pays. The Experian id theft product has all the hallmarks of misselling - but goes one further because most insurances - PPI etc are required to make it clear that their insurance product is optional. Experian does not even do that. There seems to be no opportunity on their website to opt out of the insurance. It is only when you call them to cancel that they then offer you the favour of opting out if they think that they are going to lose your custom altogether. Finally - it seems to me in any event that the insurance represents very poor value for money - but you should go to the Experian/Credit Expert website and judge for yourselves. http://www.creditexpert.co.uk/ If you have been caught by Credit Expert - claim your money back. Complain to the FOS if there is any monkey business. If your money is offered back under conditions of confidentiality - you should consider refusing and continuing to the FOS instead.
  6. I recently phoned to cancel my contract with Sky as I had reached the end of the contract and had started sharing my neighbours wifi for £10 a month. I spoke to a guy in the retentions department at Sky who offered me a deal of £12.70 a month which I thought was brilliant and I accepted as it was only £2.70 more than sharing wifi with my neighbour plus it included a phone line and up until now I'd been happy with Sky. I asked the guy on the phone quite clearly "is this all I need to pay sky a month?" and he replied yes. I also asked him if it would stay that price for the full 12 months of the contract. He said it would remain the same. Sky are charging me twice as much as this sales agent offered and Sky are refusing to listen to the conversation made with this sales agent. I had an email from them today to say they had phoned me and were going to put me through to another department to talk about some offers to reduce my bill. I don't think this is good enough. I no longer trust anything they say on the phone and I certainly don't want to be phoned at dinnertime to be passed from department to department. I just want them to honour the contract I entered into. Does anyone have any advice? as I don't think I should accept anything less than what I originally signed up for. Feel like I've been duped! Thanks in advance for any advice offered :O)
  7. I am just wondering whether kind folks on here think I have a case. First I am registered disabled and have been for many years. Back in 2003 I was quite poorly and in March 2003 had just begun taking medication which had some horrendous side effects. I banked at Woolwich at that time already part of Barclays. We were very tight financially and due to my medication was not in a good place mentally. One day I went into Woolwich to withdraw money. The cashier said would you like a Barclaycard. Not really with it I accepted and the form was filled in there and then. One of the worst decisions of my life. Within 5 days I was given this card with a £3k limit. No checks had been made that I was disabled and in receipt of benefits. We used the money to live on as we had two teenage kids at this time. They progressively upped the limit to £7k without asking us over two years and we used the money to live on and then of course eventually couldn't make the repayments We came to an arrangement with Barclaycard who then sold the debt to Cabot in 2011 which is now down to £4950. What I wanted to know should I apply to Barclaycard for mis-selling of a credit card and complain? If they refuse to address the issue take it to the Ombudsman. I have already taken Cabot and it was decided that they have bought the debt in accordance with the rules and my application was deemed to be the credit agreement. Any replies will be helpful
  8. I am a member at David Lloyd Brighton from July 2013 and I have one year contract term with them, this means I cannot cancel before the term without no paying the annual fee. My membership is Vantage that allows to go in all the UK clubs and use all the facilities everywhere. In Brighton do not to have tennis facilities, but they confirmed I could book tennis court anywhere for free as the Brighton club had this possible option for vantage members. I was not really sure if the sale manager was lying to me then I asked him to confirm in writing in the contract that my membership was “Tennis vantage membership” and he signed beside it to confirm this was correct. Then One month after I had to relocate for work in Berkshire I was using facilities in Heston where they have tennis. I started to use the facilities here until November where the IT booking system was upgraded allowing the booking through the web and is then I could not book anymore courts as they took away the option for guests to book courts in the club. I called my own club which confirmed that I could book court but the issue remained as technically I could not do that. My question is this one. Can I terminate the contract? Can ask damages for it? Do they need to refund the annual fee? I pay monthly 92£ and I am obliged by contract to pay for the full year if I cancel, is there anything I can do to have my rights back to book courts in any David Lloyd clubs as was confirmed in my contract by the sale manager in Brighton? I have attached copy of the contract and signature of the sale manager beside the sentence I have added.
  9. Millions of payday loan customers could be entitled to refunds or compensation... here's how to check if you are you one of them Millions of payday loan customers may be entitled to refunds and compensation amid allegations of high pressure selling and harassmen Read more: http://www.thisismoney.co.uk/money/cardsloans/article-2384761/Millions-payday-loan-customers-entitled-refunds-compensation--heres-check-make-complaint.html#ixzz2b7xehba1 I remember Mike Dailly saying something similar in 2012. Just found it in a corner of the CAG,dusted it down and here it is. http://www.consumeractiongroup.co.uk...d-payday-loans
  10. Claims management company Money Boomerang will finally launch a TV advertising campaign focusing on mortgage misselling later this month - but it will specifically target brokers rather than mortgages arranged direct. The CMC first announced it was expanding its focus from payment protection insurance to mortgages in October last year. It subsequently revealed in January that it was pushing back the launch of its campaign until February but it has now confirmed that on 15 April its adverts will be televised across Freeview and digital channels. In addition, the firm only accepts claims where the applicant has been sold a mortgage by either a broker or an independent financial adviser. It says the campaign is designed to determine the amount of potential business in a new market. The firm’s website gives examples of what may be deemed misselling. These include customers who were sold a sub-prime or self-certified deal when it was unnecessary; “the broker came back every few years to arrange a new mortgage (churning)”, according to the firm’s website; the mortgage was swapped from capital repayment to interest-only with no repayment vehicle or means of repaying the capital at the end of the term; or refinance for debt consolidation “without appropriate advice”. Money Boomerang director and head of mortgages Ian Barlow says: “The message is quite straightforward but we don’t know how the public is going to respond. This is the first step towards finding out what the appetite is like from the general public.” Association of Mortgage Inter-mediaries chairman Pat Bunton says: “We are obviously concerned this is starting to emerge and it adds unnecessary costs to intermediary firms. While we would never decry a consumer’s rights to make a complaint about a valid misselling issue, that is completely different to a claims management firm trawling and making a complaint where there is no issue.” In the two months that Money Boomerang has been accepting such claims, Barlow says applications have been close to 100 a month. But Goldsmith Williams partner Eddie Goldsmith, who also runs claims firm PPI Return, says most brokers will be able to show why they picked a particular product for a client. He says: “CMCs are going to have a hard, uphill struggle to substantiate these cases. There is a lot of hype about this and it looks like the aim might be to encourage networks and brokers to settle when they do not really have to.” Link: http://www.mortgagestrategy.co.uk/latest-news/mortgage-misselling-tv-ad-to-target-brokers/1069079.article
  11. HSBC has reported a £13.7bn pre-tax profit for 2012 as the bank was hit by further misselling provisions of £1.5bn and its £1.2bn fine from US regulators last year The bank saw profits fall 5.5 per cent last year, down from £14.4bn in 2011. The bank has set aside an extra £1.5bn in 2012 to cover compensation payments for the misselling of financial products, including £1.1bn to cover costs related to the misselling of payment protection insurance and £397m to cover costs relating to the misselling of interest-rate swaps. In total, HSBC has set aside £1.6bn to settle PPI-related claims. HSBC also had to pay a £1.2bn fine from US regulators last year to settle a money-laundering inquiry. Total group revenue fell 5.6 per cent from £72.8bn to £68.3bn. The group’s core tier 1 capital ratio increased from 10.1 per cent in 2011 to 12.3 per cent in 2012. HSBC’s European division made a £2.3bn loss in 2012, due to a £2.7bn write down in its own debt. The previous year it made a £3bn profit. In the UK, the bank lent £16.4bn to mortgage customers in 2012, up 24 per cent on the £13.2bn lent in 2011 and £4bn more than its original commitment of £15bn of new mortgage lending in 2012. The bank approved £19bn in total in 2012. The bank had a 12 per cent share of the UK mortgage market as at the end of 2012, up from 10 per cent a year earlier. Group chief executive Stuart Gulliver says: “Although reported pre-tax profit fell by 6 per cent to US$20.6bn [£13.7bn] in 2012, underlying profit, which includes the impact of fines and penalties and UK customer redress provisions totalling US$4.3bn, grew by 18 per cent. This was primarily due to revenue growth, notably in global banking and markets and commercial banking, and lower loan impairment charges in North America. We regard this as a good performance.” Link: http://www.mortgagestrategy.co.uk/latest-news/hsbc-posts-137bn-profit-but-sets-aside-extra-15bn-for-misselling/1067038.article
  12. Conservative MP Mark Garnier has blasted the FSA for “massive failings” in dealing with senior executives at banks involved in misselling scandals. Garnier, who is a member of the Parliamentary Commission on Banking Standards, is part of a panel looking into misselling and is arguing for tougher sanctions for senior staff. He says: “The question I want to dig into is whether the senior people at an organisation can put up what amounts to a responsibility firewall around themselves. If you hire the three monkeys to hear no evil, see no evil, speak no evil, then it is fine. “It is a massive failing by the regulator to say that if a senior employee did not know what was going on then they are not responsible. My view is that if they are setting the tone from the top and it is the wrong tone then they have a responsibility. The argument that it was on their watch but they were not watching simply does not cut any ice.” More: http://www.mortgagestrategy.co.uk/insurance/tory-mp-slams-fsa-for-failing-to-tackle-misselling/1064387.article
  13. i had a personal loan from these people for 300, the total to repay was 578 in their contract it stated there was a fee of 100, i told them that i did not want the loan if there were fees and was told that it was not a fee I would not be charged a 100 and that it was included in the total int repayable, if i paid early the total repaid would be a lot less i went to pay all of it 4 months early and was told i still owed a 100 fee/adm;in charge which was an interest charge previously. i was charged interest on 400 not 300 as stated at time of application, as a consequence i have been oveer charged 95, i rang head office and cash cons agree with me that telling people the charge 100 is interest and not a fee is potentially misselling but they were not going to refund me the over charge and i would have to take legal action against them, they have also stated that they are nt responsible for their agents actions even though they are lying to sell loans, can i do anything about this?
  14. hi all, just a note to highlight how loyds inherently missold ppi. edited, for future editing
  15. Previously Ofgem could only order fines be paid to the Treasury. http://www.bbc.co.uk/news/uk-19690632
  16. The FSA has issued new rules to ensure that customers are not missold a packaged bank account. The Financial Services Authority (FSA) is clamping down on how packaged bank accounts are sold to prevent customers from “throwing money down the drain”. Packaged accounts, where customers pay a monthly fee for their account in return for freebies and perks, are big money spinners for banks. Extras thrown in alongside a current account typically include travel insurance, breakdown cover, mobile phone insurance and discounts on overdraft fees. But fees for such perks can cost up to £300 year and the FSA is concerned that many of the extras offered are unsuitable for customers. The regulator has now published new rules that will force banks and building societies to check whether customers are eligible to claim on insurance cover before selling them a packaged bank account and alert them if some are not. Sheila Nicoll, FSA director of policy, said: “These products are often referred to as upgraded accounts but if you end up paying for an element you can’t claim on, it’s money down the drain. We are closely monitoring the promotion of packaged bank accounts and the new rules will make sure customers know what they’re buying and that they can rely on the product or have the limitations explained before buying.” Link: http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/9431831/Financial-Services-Authority-acts-to-prevent-banks-misselling-packaged-current-accounts.html
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