woodya v cooperative bank

[woodya]

hi/

i have recently put in a claim for misold ppi to the cooperative bank covering 5 loans from 2002 on the grounds that i was not aware that the insurance was optional, that could get it elsewhere cheaper, that it would be a positve in the loan being approved , i have had some sucess, the first letter they sent stated that even though they did not think the ppi on my present loan had been missold they would cancel it , give me 500 pound and drop my payments for my present loan i refused and asked them to look at it again, as the complaint was for 5 loans and i was missold the ppi on them also, they replied that under statute they have the right to refuse, any loss more than 3 years ago , the loans i had closed over 3 years ago, so i have given the complaint to the ombudsman, the offer of 500 pounds and reduced payments has been left open , has anybody any thoughts or advice? please

[di0430]

hi/

i have recently put in a claim for misold ppi to the cooperative bank covering 5 loans from 2002 on the grounds that i was not aware that the insurance was optional, that could get it elsewhere cheaper, that it would be a positve in the loan being approved , i have had some sucess, the first letter they sent stated that even though they did not think the ppi on my present loan had been missold they would cancel it , give me 500 pound and drop my payments for my present loan i refused and asked them to look at it again, as the complaint was for 5 loans and i was missold the ppi on them also, they replied that under statute they have the right to refuse, any loss more than 3 years ago , the loans i had closed over 3 years ago, so i have given the complaint to the ombudsman, the offer of 500 pounds and reduced payments has been left open , has anybody any thoughts or advice? please

 

 

Hi there

In my opinion you have done the right thing by refusing the £500.

They are pulling a fast one on you I think.

 

Did you have the final response from them in order to go to the FOS ?

 

Have you the paperwork to these loans still ?

 

If you have not its recommended to SAR them (Send a subject Access request) with a £10 payment postal order or cheque, there is a template on site here for this, they have to provide you with everything they have on you from over the past 6 years.

They should comply within 40 days of receiving the request.

 

By having the SAR they should supply it all, even phone calls, emails, loan accounts, everything, and when you receive this then you will be aware of the money you will need to reclaim on each one.

Well worth £10 I think, mine have helped big time with reclaiming.;-)

 

Good luck and fight for whats yours and with what you have been deprived of.

And remember they have to add an extra 8% of what a court would award to every claim.;-)

 

Just yell back here if you require further help/info.;-)

 

Di.

[alanalana]

Hello woodya,

 

welcome to the PPI forum, becoming a busier forum by the hour:)

 

hi/

i have recently put in a claim for misold ppi to the cooperative bank covering 5 loans from 2002 (FSA made a ruling on PPI selling on 14 Jan 2005) on the grounds that i was not aware that the insurance was optional, that could get it elsewhere cheaper, that it would be a positve in the loan being approved , i have had some sucess, the first letter they sent stated that even though they did not think the ppi on my present loan had been missold they would cancel it , give me 500 pound and drop my payments for my present loan i refused and asked them to look at it again, as the complaint was for 5 loans and i was missold the ppi on them also, they replied that under statute they have the right to refuse, any loss more than 3 years ago , (they cannot however refuse to supply the documentation for those loans they are required to keep all documentation for 6 years after the last transaction on the loan) (You could therefore submit a SAR and ask for all the relevant data as refers to you and all of the loans back 6 years this may provide you with valuable information on the mis-selling aspect) the loans i had closed over 3 years ago, so i have given the complaint to the ombudsman, the offer of 500 pounds and reduced payments has been left open , has anybody any thoughts or advice? please

 

This is from advice to another claimant it may help you.

 

Have you sent a Subject Access Request asking for all the subject data on you and this particular barclays loan or credit card?

 

If not and you do not have the original paperwork then you can submit a S.A.R - (Subject Access Request) with a statutory fee of £10.00 (a postal order is best and keep the receipt you may be able to claim the £10 back) and request all the data applicable to you as a subject and in particular the loan you are contesting.

 

They have a statutory 40 days to respond and if you do not get all the data you ask for (and you must ask for every bit of data in whatever format they hold, paper, tape, microfisch, cd, electronic, telephone call recordings or transcripts, etc) You must be specific and ask for Terms and conditions, Customer duty of care check list (if the sale was and advised sale, i.e you talked to a sales advisor) Policy documentation, statement of account etc, then you can submit a complaint to the Information Commissioners Office or start Court action. The Information Commissioners Office is very busy so many complaints on PPI but no Court costs. Such is the magnitude of PPI mis-selling.

 

Good luck keep posting and you will get the required help.

However this PPI reclaiming is new and still in its early stages but things are coming together and CAG subscribers are real fighters.

 

hope this helps you out

aa

[woodya]

hi/

thanks for the advice when you ask if ihve had the final response letter, i got a refusal from my second letter telling me if i did not agree with their decision i should refer it to the ombudsman . they sent the leaflet also . is this a final response or is there more i should do, i have already refered it to the ombudsman.

 

thanks

[citizenB]

hi/

thanks for the advice when you ask if ihve had the final response letter, i got a refusal from my second letter telling me if i did not agree with their decision i should refer it to the ombudsman . they sent the leaflet also . is this a final response or is there more i should do, i have already refered it to the ombudsman.

 

thanks

 

Sounds pretty final to me, so yes you can assume that is a Final Response Letter.

[woodya]

Sounds pretty final to me, so yes you can assume that is a Final Response Letter.

hi/ the fos have replied , stating that the co op have offered a deal which is to pay me back all the ppi on all the loans which is great, however all the ppi owed would come off my present loan , unsure what to do, can they insist that it comes off the present loan? no figures have been mentioned but i reckon about five thousand is what they owe me . do you think i could split it , half to the loan ,half to be paid direct to me ? any body got any advice

thanks

[pinknico]

From my understanding they can use the amount paid back on the present loan for that loan but the rest you should be able to have sent in a cheque, but if you ring the FOS they should let you know what can or can't happen in this case.

[citizenB]

That is brilliant news. If you have other creditors you could try and make a case for having say some of the refund made to the loan and some to enable you to pay back other creditors.

 

I am really pleased you have succeeded. x I have just noticed that it was a really swift response as well.