loanmakers ppi

[deedee222]

i have recently wrote to loanmakers claiming that me and my partner was mis-sold ppi on our secured loan,it all started back in october last year when i looked through our paperwork regarding a loan we had in february 06.we paid it off after 12 months.the loan was over 20 years but the ppi cover was only for 3. i found that i had signed the needs and demands statement to say that i did not wish to purchase ppi on this loan but my partner had signed to say he wishes to purchase it even though he had told them that he works for the local goverment and has very good sickness, redundancy and death benefits which loanmakers were made aware of at the time of the loan application.anyhow delving more into all our paperwork we discovered a policy schedule in my name only(wierd cos loanmakers had my signature stating i didnt want it)when i confronted loanmakers on this they explained that my partner was also covered but he would have had a seperate policy(we had never recieved such a copy)to which they then sent us the both policies..both were exactly the same apart from our names. anyway they said they would look into why i had a policy and would be in contact soon.after a while i got a letter from them saying that they believe we was not mis-sold the ppi blah blah blah but they was going to uphold my complaint that we should have had just one policy and as a result of their findings they apolgised for their poor service and said they would restructure our loan and take my name off the ppi cover and give us the difference back (oh by the way this loan was paid off back in february so if they had done a detailed investigation into our claim like they said they had.they would have known all this) i wrote back to them to tell them this and he said he would look into it again. i then got another letter back last week to say they would send me the difference in cover from 2 policies to just one, and as a gesture of goodwill they would not charge us for the time we were both covered (wot a cheek) i have now took it to the ombudsman to see what he makes of it.....

[hedgey06]

Hi there deedee and welcome to CAG

 

It sounds as though your claim is in full swing at the moment, but if you need any additional support/advice, just post back on this thread and hopefully somebody will be able to advise you further.

 

Best of luck with your claim

[deedee222]

hiya

thanks..................yeh i just got a reply off ombudsman yesterday to say they will deal with it but said they have a backlog so it may take a while,but i got all the time in the world,i know i was missold the ppi so why should i take a fraction of what they actually owe me. the full policy cost 5.500.and they admit to poor service but only want to give me £2k,......i dont think so.i will post as soon as i hear anythink.

[MATHERJ]

hiya

thanks..................yeh i just got a reply off ombudsman yesterday to say they will deal with it but said they have a backlog so it may take a while,but i got all the time in the world,i know i was missold the ppi so why should i take a fraction of what they actually owe me. the full policy cost 5.500.and they admit to poor service but only want to give me £2k,......i dont think so.i will post as soon as i hear anythink.

 

Hello - Good Luck with your claim!

 

I am just starting a claim against loanmakers for PPI for mis-selling me a policy as they put me under a lot of pressure over the phone to take PPI as Id recently just been out of work & so needed the loanmakers loan to pay off the arrears Id built up.

 

Anyway, my question is - when they were looking into your claim, did they ask you to complete a really long survey about your circumstances when you took the PPI?

 

They've sent me one, I'm just really wary of filling it in as I've a feeling they are going to try use it to catch me out on any differences between what I told them on the phone & on this survey. I don't know whether to complete it or not, as I don't want to give them any excuse not to pay.

 

So if you could please let me know if you also went through this process I would appreciate it. If anyone else has any advice on this as well I'd love to hear from you.

[deedee222]

hiya mather

no i didnt get one of those(dont know why) but i have heard that a few people have had them and other members on the forum were advising them to send it back blank, with a note saying that they should already have this information which they would have gone through to ensure that they were selling you something that would be of use to you. sorry cant help anymore but i also think that they should already know all your circumstances when you took the loan out .......good luck anyway

[hellhasnofury]

hiya mather

no i didnt get one of those(dont know why) but i have heard that a few people have had them and other members on the forum were advising them to send it back blank, with a note saying that they should already have this information which they would have gone through to ensure that they were selling you something that would be of use to you. sorry cant help anymore but i also think that they should already know all your circumstances when you took the loan out .......good luck anyway

 

I agree deedee, do not fill in anything they send you. Unless it is to sign to say you agree to a full refund of money owed plus interest:grin:

 

As stated they will have to provide evidence that they had already provided a service/checklist to show that the insurance they sold you was sold fit for purpos.

 

Do not do it:wink:

[deedee222]

hi

just to keep u updated got a letter from ombudsman on friday to say they still have no information for me but will write back to me within the next 4 weeks, so i rang them and asked were was it all up to the lady told me that they had recieved my file from loanmakers last week and have got all the information they need from both parties, so its just a matter of someone taking a closer look at it all then they will be in contact with me..so hopefully i should hear something soon

[deedee222]

just another update,i got another letter from ombudsman to say they still hav'nt looked into it and they will be in touch within the next 4 weeks....

[deedee222]

hi. does anyone know how long it takes for the f.o.s to deal with complaints. i have had several letters from them,most of them saying we will be in touch in the next 4 weeks with an update, the latest one states that they have a very large volume of cases and they are still not in a position to allocate my complaint to one of their adjudicators,and they will let me know when my complaint is ready to be assessed. i sent my complaint off to them at the end of jan 08 and got first reply off them a couple of days late deedee

[deedee222]

hi just to update. i hadnt heard anything from fos for quite a while so i phoned this morning,the lady told me that at the minute they are dealing with the complaints that came in the last week of january 08 and mine was the first week in feb 08 so she said i should hear from them within the next couple of weeks my complaint has been with them for 8 months now and still awaiting to be passed to an adjudicator, with any luck i will not wait much longer

[comando09]

Hi i am also claiming back PPI from Loanmakers the problem i have is it was sold to me before they were regulated by the FSA. They replied to my letter by saying i signed for the PPI so tough luck i should have known what i was signing. I have sent them a second letter threatening to take them to court if they do not refund my PPI, but they just sent a similar reply to the first letter.It was front loaded and only covered the first 5 years of the loan and was only for me when the loan was in joint names and i paid it off early and did not get a refund, so i think i have a good case for a refund. I am unsure about how it will go if i take them to court, does anybody has a success story where they have won in court in a case like this as i need reassuring that i will not be wasting my time and money.

I would expect them to issue a defence a take it all the way to the court hearing and then not show up just to mess me about but i need some advice as what to do if i have to appear in court. Any help would be most appreciated. Thanks.

Edited October 9, 2008 by comando09
spelling mistake

[alanalana]

Hello deedee,

 

hi. does anyone know how long it takes for the f.o.s to deal with complaints. i have had several letters from them,most of them saying we will be in touch in the next 4 weeks with an update, the latest one states that they have a very large volume of cases and they are still not in a position to allocate my complaint to one of their adjudicators,and they will let me know when my complaint is ready to be assessed. i sent my complaint off to them at the end of jan 08 and got first reply off them a couple of days late deedee

 

6 to 9 Months and most likely longer.

 

Have a look at post 254 from my own link here to see the delay problems.....alanalana PPI claim against RBS (looking for some help) please

 

It takes a long while but IMO worth it it cost nothing, no Court procedures if you are not sure of them but the downfall is the time it takes. You always have Court action as a last option if you go down the FOS route first.

 

aa

[deedee222]

hiya they told me the same thing when i rang them at the begining of july... that they had all the details and information they needed from me and from loanmakers but were awaiting an adjudicater to look at it. i gonna ring again tommorow to chase them up but i bet i get the same response that its still waiting to be passed to an adjudicater

[alanalana]

hello deedee,

 

I am afraid it is a game of being patient although I am near to writing back to the ICO as I sent my first complaint in March, which was acknowledged in May several telephone calls to them since and the complaint has not yet been passed to a case officer and when that happens they still have to go through all of my correspondence then write to the bank who then have 28 days to respond so seven months so far and probable a few more and this is just to get the information I requested in my SAR back in January.

 

Things I am afraid are falling apart in the regulatory system even the FOS are massively swamped with complaints.

 

aa

[deedee222]

hi just an update

after my case been waiting to be passed on to an adjudicator for 13 months with the fos i have recieved a letter this morning from them telling me that loanmakers went into administration on the 3rd february, and they will be in touch within 4 weeks to let me know the outcome.....

[alanalana]

Hello deedee,

 

hi just an update

after my case been waiting to be passed on to an adjudicator for 13 months with the fos i have recieved a letter this morning from them telling me that loanmakers went into administration on the 3rd february, and they will be in touch within 4 weeks to let me know the outcome.....

 

This will undoubtedly become more of an issue as the credit crunch bites even deeper more companies going into administration so where do we stand?

 

I am sure the FOS will be able to give guidance and even though the FOS seems to be frowned upon on by the CAG site (as per the recent links to everything fos, they have now put in advice to go the Court route) they the FOS have produced results for a lot of people who did or do not have the fees for presentation at Court, or in fact who would have had to face Court in Scotland where the laws are totally different and the limits on claiming are lower than in in England. IE RBS now owned (most of it) by the tax payer.

 

The FOS route is free and although it takes time, if your complaint is not upheld you still have the option of Court proceedings.

 

They are busy but they will get there in the end without a multitude of form filling and Court fees, timings, hearings, evidence etc.

 

The FOS will take a complaint form with copies of all correspondence and take it from there.

 

Hope this helps

 

aa

 

 

 

[alanalana]

Hello site team,

 

I would like to ask why all the references to FOS now are linked to a message saying don't bother etc etc.

 

Is there a problem with caggers using FOS to obtain a result on PPI mis-selling? or any other issue, other than going down the Court route?

 

I got IMO a good result, so why would caggers be given a general message not to bother with the FOS? I thought the aim of the game was to defeat the banks etc by whatever means! Court, FOS or whatever.

 

The FOS costs nothing the Courts you have to pay for:confused:

 

any advice as to why this has happened would be welcome.

 

aa

 

Incidentally I did get the statutory 8% added on top of my payments and interest on the payments.

Edited March 5, 2009 by alanalana
text added

[MARTIN3030]

Sadly Alanalana,its the experiences of many.

Just as it says-they are awash with caseloads which they cannot proceed.Its not likely to get any better either as funding is due to be less.

The banks have in many respects manipulated the situation causing even more frustration.

Anyone who has a case ongoing will tell the same story.

A few lucky ones have had a result-but are far overshadowed by the 1000s who remain in the dark.

The FOS templated letters are now akin to those that the banks themselves have always had a habit of sending.

 

At the end of the day its up to the individual to decide on which route to take.

Aside from the blanket stays which remain in force for current accounts,its not unfair to say that the Court route is the preferred and quickest option.

As we know an N1 is something that the Banks have much more difficulty to manipulate.