PPI - how long for a reply

[Doc2527]

Hi folks

 

Can anyone advise me on how long I should wait for a response to a mis sold PPI claim on a credit card?

 

Many thanks

 

Doc :?

[hellhasnofury]

Hi folks

 

Can anyone advise me on how long I should wait for a response to a mis sold PPI claim on a credit card?

 

Many thanks

 

Doc :?

 

Hello Doc and welcome,

 

How long did you give them in your letter????? and how long have you been waiting. Have they gone over their own timescale for investigation

 

They do not rush to respond to you, so you need to be chasing them up.

 

Did you send everything recorded delivery and are you sure that they received it???????

 

Can you tell us a bit more about your claim and where you are at with it:-D

[Doc2527]

Hi Hellhasnofury

 

Thanks for your welcome and your speedy reply.

 

Unfortunately I didn't put a timescale in my letter to them, requesting a refund of mis sold PPI.

 

I am writing on behalf of my OH.

 

I sent everything to them by recorded delivery on the 9th Sept.

 

I haven't checked that they have received it as yet, I'll check online via the post office website.

 

I had already sent an SAR and received from them printouts of the credit card statements along with PPI charges.

 

I sent a letter off requesting a refund along with the schedule outlining the PPI that was added to the CC bill each month (&More CC £1400).

 

Your help in what I should do next would be welcome?

 

Regards

 

Doc

[Bog]

First check they have actually got it. I know you did not give them a timescale and most companies complaints proceedure response time is 8 weeks, but I always ignore that and give them 14 working days. If feel this is more than enough time for them to investigate (and print out there standard fob off letter ).

 

I try to dictate the time, not let them - not easy but it puts you in control.

[Doc2527]

Hi folks

 

I have checked that they signed and received my letter via the post office tracking service, can anyone advise me to what I should do now? Do I send an LBA off stating that I have given them enough time to respond?

 

any help would be much appreciated.

 

many thanks

 

doc

[Doc2527]

bump!! anyone??

[Paintball]

Hello Doc

 

You have two choices here: 1) send a polite but firm reminder letter, giving them as a large organisation an additional 14 days in which to investigate your complaint and enter into sincere dialogue with you. You are a reasonable person after all 2) send your LBA outlining the case for mis-selling, demonstrating how they have mis-sold PPI and the rules and guidelines the lender has breached in doing so.

 

If you need any more help, just shout ...

[Doc2527]

Hi Paintball

 

Many thanks for your quick reply....can I be cheeky and ask if you would be able to send/give me a form of words that I could use?

 

thanks

 

Doc

[Doc2527]

Hi folks

 

does anyone know if there is such a thing on the site as a LBA PPI Template.

 

I have looked and looked, however I may not be searching properly, but I don't seem to be able to find one?

 

I really want to send an PPI LBA off as soon as possible as i feel that they have been given ample time to at least respond to my letter sent (recorded) on the 9th Sept 08.

 

Any help is much appreciated.

 

Many thanks

 

Doc

[Paintball]

Hi Paintball

 

Many thanks for your quick reply....can I be cheeky and ask if you would be able to send/give me a form of words that I could use?

 

thanks

 

Doc

No probs ...

Hi folks

 

does anyone know if there is such a thing on the site as a LBA PPI Template.

 

I have looked and looked, however I may not be searching properly, but I don't seem to be able to find one?

 

I really want to send an PPI LBA off as soon as possible as i feel that they have been given ample time to at least respond to my letter sent (recorded) on the 9th Sept 08.

 

Any help is much appreciated.

 

Many thanks

 

Doc

 

Hi Doc

 

There is a generic template for bank charges but I'm happy to help you prepare your own LBA for your PPI claim as there is a whole lot of additional information and legislation that you can use to help your claim.

 

To help me with this, could you please post up the gist of your first letter so that I have as much info as possible: loan/card account, date it was taken out, how the PPI was sold to you (face-to-face or telephone), advised or non-advised sale (if you know this), was the salesperson pushy, etc, etc.

[Doc2527]

Hi Paintball

 

Many thanks again for getting back to me and looking at my PPI claim.

The credit card was for my wife, she filled out an application form, so there wasn't any sales advice given regarding the PPI, as far as she can remember it was a tick box.

 

Here is the letter that I had sent off, as yet I haven't received any response, I checked the Royal Mail tracking site and they did sign and receive the letter.

 

Mr Jamie Davies

The Data Protection Representative

Marks & Spencer Money

Kings Meadow

Chester

CH99 9FB

9th September 2008

Dear Sir,

Re: &More Credit Card Account:

 

I purchased a PPI from you, however I now believe that I was mis-sold this policy for the following reasons:

 

This is due to the fact that your member of staff did not ask me about any previous medical conditions and they did not inform me of the effect this could have on the insurance when the policy was sold.

 

This is due to the fact that I do not believe that my policy was sold in my best interests.

 

This is due to the fact that I was not given the correct information when the policy was sold to me,

 

• I was not asked whether I had any other insurance which would cover the loan.
  
• I was not told I could buy a PPI elsewhere to cover the credit card.
  
• I was led to believe that Payment Protection Insurance was compulsory.
  
• It was not explained to me that there were certain exclusions within the policy that could affect me.
  
• The Terms & Conditions of the small print were not fully explained to me.
  

Unless you can satisfactorily justify to me that the PPI was fair and reasonable, I am requesting a full refund of all my PPI payments (£1188.27), as I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made (£267.76 interest @ 8%) which totals £1456.03.

I look forward to a full and prompt response to this letter and for the matter to be concluded or I shall be contacting the Financial Ombudsman to investigate my complaint.

 

Yours faithfully,

 

enclosed. Schedule of Claim for Charges (14/12/03 to 13/03/07)

 

 

Again many thanks an I look forward to your further help:)

 

 

Doc

[Paintball]

Hi Doc ...

 

You don't say when the loan was taken out, but I take it from your first letter that it was in 2003.

 

You could send them the following:

 

 

Date

 

LETTER BEFORE ACTION

 

 

 

Re: Account xxxx

 

 

Dear Mr Davies

 

I write to inform you that I am extremely disappointed in your lack of response to my intitial complaint about mis-selling of Payment Protection Insurance (PPI). I wrote to you on 9 September 2008 and have proof that my letter was received and signed for by an individual within your organisation. I have not even received an acknowldegement of receipt of my letter. I hereby repeat my assertion that I have been mis-sold Payment Protection Insurance (PPI) taken out on the above named account on date.

 

At the time of opening my More Than credit card account, PPI was added to the account as a direct result of a 'high pressured' sale by your salesperson.

 

 

I hereby repeat for your information, the reasons for my complaint about mis-selling, and more importantly, would like to express my disappointment that Marks and Spencer, an extremely well respected organisation, should resort to such poor sales practices. I assert that PPI was mis-sold to me for the following reasons:

• I was not asked whether I had any other insurance which would cover the loan.
  
• I was not told I could buy a PPI elsewhere to cover the credit card.
  
• I was led to believe that Payment Protection Insurance was compulsory.
  
• It was not explained to me that there were certain exclusions within the policy that could affect me.
  
• The Terms & Conditions of the small print were not fully explained to me.
  

Marks and Spencer had an obligation to me the borrower, to provide sufficient and appropriate information to enable me to make an informed decision as to the suitability of the PPI to meet my needs and financial circumstances. I should also have been made aware of alternative options available, or comparative costs of similar PPI products from other suppliers, which information as a well known financial institution, you would most certainly have had access to.

 

The Financial Services Authority (FSA) provides guidelines which Marks and Spencer should adhere to while making both Advised and Non-Advised sales. Where a Non-Advised sale takes place, "The customer must, however, still receive sufficient information on the product to enable them to make an informed decision as to whether it meets their own demands and needs." (FSA)

 

At no point did I receive any such information, either by letter, document or telephone call which followed the above guideline. The documents that I hold, do not contain any of the information that I have outlined above and cannot, therefore, be deemed as meeting the standard of care which you should have provided.

 

I reposed absolute trust in your ability to provide me, your customer, with a reasonable level of care and skill in ensuring that my best interests were met when taking out a finacial product with your organisation. This has not been the case and I am extremely shocked and disappointed.

 

I would further suggest that the Principles of Business which are legally binding upon Marks and Spencer under the Financial Services and Markets Act 2000 and which are contained in the FSA Handbook, have not been followed. Therefore you are in breach of regulations.

 

I would remind you that the FSA takes the mis-selling of PPI extremely seriously and you will be aware that recent investigations by both the FSA and the Competition Commission have found that lenders continue to engage in "poor sales practices" and that "customers were not informed orally of both the monthly and total cost of their PPI". (FSA report 30 September 2008).

 

I request the return of (insert amount here plus interest) within 14 days of receipt of this letter by you. If you do not comply with my request, I will have no option but to refer my complaint to the Financial Ombudsman Service (FOS)/issue court proceedings against you for return of monies. I should remind you that the FOS take the issue of mis-selling of PPI extremely seriously and in many cases, have imposed large fines on financial institutions who are in breach of regulations.

 

I look forward to receiving a positive response from you within the prescribed time limit.

 

 

Yours sincerely

 

 

Your wife's name here

Edited October 9, 2008 by Paintball
oops, typo!

[Paintball]

aaaaagh!!!! That smiley in the penultimate para should be a letter 8 ... can't get it to change for some bizarre annoying reason!!!

[Doc2527]

Hi Paintball

 

Many many thanks for your time and efforts in producing this LBA.

It'll be straight off to them in the morning.

 

thanks

 

Doc:grin:

[Paintball]

You're welcome. I look forward to their response ...

[Doc2527]

Hi Paintball

 

I removed the line "high pressured sales" from the LBA as there wasn't any sales advicegiven around the PPI.

 

Doc

[Paintball]

Hi Paintball

 

I removed the line "high pressured sales" from the LBA as there wasn't any sales advicegiven around the PPI.

 

Doc

 

Probably best to substitute something more appropriate then to indicate the level of disatisfaction you have with the whole PPI sale process ...

 

However, you can still feel that you have been pressured into purchasing a PPI product, even though no alternative information is provided to you of say other insurance options available to you.

[Doc2527]

Hi Paintball

 

I have just received a reply from M&S Money today, saying :-

 

"Thank you for your recent enquiry. In view of the nature of the matters you have raised,enquiries are currently taking place and when these are complete,we will write to you again. I envisage that a full response will be sent to you within the next four working weeks, when I do hope matters will be resolved.

 

I'm formally obliged to advise you of Marks & Spencer Money's complaint handling procedures and I enclose a copy of our "How Can We Help You" leaflet that sets out the relevant details for you.

 

Once again, thank you for taking the time to contacy us, I'm only sorry that it has been necessary for you to do so.

 

Yours sincerely

Eleanor Warleworth

Customer Relations Team"

 

Would you have any further advice, as this sounds like "stalling" tactics to me?

 

If I pass it to the FOS, there surely will be another long delay, as the FOS appear to be "snowed" under with complaints!!

 

I look forward to hearing from you soon with your usual sound advice.

 

Doc:mad:

[Paintball]

Hi Doc

 

Yes it is the standard four week investigation letter. I have received one myself from BISL and will be very reasonable and allow them the four weeks ... and no longer.

 

I have written to tell them that as a large organisation I feel that four weeks is more than ample time to refer back to the FSA regulations and the Banking Code of Practice etc etc, in order to refresh their minds as to whether they have treated me fairly etc etc ...

 

After this time, if I have not received a satisfactory response, they will be receiving a rocket from me ... will M&S be getting one too from you?

 

 

[Doc2527]

Hi paintball

 

i thought that I had given them more than ample time to come back to me , rather than a "yes we'll get back to you in 4 weeks time" them calling the shots....I'm sure that I have given them more than ample time for a refusal and now you're advocating that yes this seems reasonable...I'm sorry but I'm really Fuc*ked off with their "oh we'll get back to you" in 4 weeks time...where is the balls to say that we have the control!!!!!

 

I thought the next step was court action, after all in my previous threads I had been very amiable, awaiting for them....I'm sorry to rant but I'm a bit:evil:( to say the least) !!! ****ed off with waiting when it suits them!!!?:??:?

Maybe in the morning I'll see reason but I thought, somehow I was in control not them!!!

[hellhasnofury]

Hello Doc,

 

Just catching up with your thread and see you are getting great help from painty:grin:

 

Now I do have experience of the lovely M&S and how they must informally obliged to cover up and deceive their customers:lol: I have a sack full of these standard template letters from them.

 

Can I ask if your OH originally started with a store card and then M&S upgraded it to the &more credit card. It would be important to know this please.

[Doc2527]

Hi HHNF

 

Yes Paintball is being very helpful, and I must apologise for being soooo angry, It was not pointed at paintball, please forgive me.

 

My OH took it out as a credit card from the start.

 

many thanks

 

Doc

[hellhasnofury]

Hi HHNF

 

Yes Paintball is being very helpful, and I must apologise for being soooo angry, It was not pointed at paintball, please forgive me.

 

My OH took it out as a credit card from the start.

 

many thanks

 

Doc

 

Hiya Doc,

 

These companies do make us rather angry and frustated, but you will be smiling in the end:-D

 

It is there purpose to drag out complaints, make it difficult and not be at all helpful, in a hope that you will go away:wink:

 

But we won't:-D.

 

The reason that I ask, it that I am currently in legal dispute with the good old M&S regarding a account. This was originally opened as a store card and in 2004 I think, they sent me a lovely new credit card,& more money, which could be used in other stores. naughty naughty. They got absolutely slated by the credit regulators for this.

 

When I sent them a request under section 77/78 they provided me with the application form that I signed in 1999 for the store card. I won't go into too much detail, but this has been in dispute for 18months now and they don't speak to me now and neither do the DCA's they sent after me. Oh well:cool: Just have to argue with someone else for the moment

[Doc2527]

Hi Folks

 

In the letter that Paintball kindly wrote for me It mentions

 

"I request the return of (insert amount here plus interest) within 14 days of receipt of this letter by you. If you do not comply with my request, I will have no option but to refer my complaint to the Financial Ombudsman Service (FOS)/issue court proceedings against you for return of monies. I should remind you that the FOS take the issue of mis-selling of PPI extremely seriously and in many cases, have imposed large fines on financial institutions who are in breach of regulations."

 

Then M&S sent the letter stating that they will reply to my "complaint" within 4 working weeks.

 

I'm slightly confused as to what to do next....do I report them to the FOS/take court proceedings or wait for 4 working weeks for them to reply?

 

Doc:confused:

[Paintball]

Evening Doc

 

I know it's a difficult one; you've stated 14 days and they say four weeks. Of course, they are trying to mess you about and I have had this kind of response on many occasions from other about-to-be-Defendants

 

The only thing I would suggest in this particular case is is to be reasonable, this ALWAYS stands you in good stead with the courts. You will appear to be reasonable in allowing them a little more time and they will look as if they are being unreasonable if they take longer than this and still come up with an unfavourable response. Who do you think will look best in the Judge's eyes if you file a claim in your local court?

 

Sometimes after a LBA the bank/lender will crumble and pay up, sometimes it takes a bit longer.

 

After four weeks, if no favourable response or no response at all, file that N1. No further letter to M&S just have that N1 and your POC already prepared. Put a date in your diary and look forward to it!