PPI from Loans.co.uk with FOS need help|!

[Scrapper]

Hi all , I'm watchng this with interest . A friend of mine who is self-employed was sold a PPI for his mortgage by Cardiff (via A&L ) ..... and now that he's in trouble due to the recession , they're playing hard to get .... telling him they won't pay unless he winds his business up ....

 

My contention is that, being self-employed he shouldn't have been sold this in the first place .... therefore it is mis-sold .... he's actually waiting a reply from FOS ... so I'll watch to see which way they jump ..... and when .........

 

 

I also have a complaint with FOS re Cadif Pinnacle. They are claiming only to be the underwriter and I should contact Northern Rock. I wasn't self employed though. It doe's state in the T&C's that in order to claim the company has to be shut down. That much I do know as I've read them a few dozen times.

 

Thanks

Scrapper Coco 8-)

[tagal]

Thank you for your responses. So do you think I should carry on fighting. The FOS have said

 

"I have exmained copy of loan agreement and I note that there is a tick in the box 'opted for PPI and it clearly states that PPI is optional. I am therefore statisfied that Loans.CO.UK did not cause breach of the code"

 

"If you disagree with how I have reached my conclusions reply by 29th November telling me your reasons along with any evidence that you have not already provided and that you think is important to the case. As a reminder, you will also have the right to ask an Ombudsman to review the case as the final stage of the process" (3 years to come to this)

 

I don't have long and to be honest have no idea what to say. Help would be greatly received,

 

Tracey

[Scrapper]

Thank you for your responses. So do you think I should carry on fighting.

 

Never give up fighting. It might go to appeal and end up in your favour

 

I had the same thing. I ticked a box but that means sweet FA in the scheme of things.

 

How did you apply for this loan?

 

If it was on the phone then I would go back at them with "Statutory record keeping is 7 years, so LOAN have to have a record by law (UK Data Retention Requirements). No excuses. Even if deleted from their day to day CRM tool, it will be somewhere so make sure FOS ask them to request it again and advise FOS that by them not having it they have broken the law and FOS are basically allowing them to get away with it. I would then ask WHY you have been ruled against when LOAN have failed to supply FOS with an important piece of the puzzle.

Then threaten to report LOAN to Revenue and Customs as they would be interested as it's regulations they have broken.

 

I would then make sure that FOS are fully aware that you will report them as well for failing in their duty of care.

 

That's about all I can help with unless you have more details for me.

 

Thanks

Scrapper Coco 8-)

[tagal]

Thank you for time in replying. Your points are very interesting.

 

I took the loan out in January 2003 (I think this may be some of the problem - to do with before 2005 they needed to go a different route ie. the mortgage code) the only point they could use was 'whether it was a condition of the loan that the insurance is taken out'.

 

So basically if you are saying records need to be kept for 7 years then they only needed to keep them until January 2010. So am too late, although in my defence I did lodge my complaint with the FOS in Feb 2008, which then would of been within the seven years. This is why I can't understand why they waited until now to tell me there were no records, if they had asked for them in 2008 they would of been available.

 

I think I will ring the FOS and tell them this information. How can I find out for definite how long records have to be kept, and do you think this is worth mentioning as the FOS seems to have come to their decision based on the fact that there are no records apart from signed loan agreement (which maybe wrong, we were desperate for loan and would of signed anything).

 

Thanks, Tracey

[Scrapper]

Thank you for time in replying. Your points are very interesting.

 

I took the loan out in January 2003 (I think this may be some of the problem - to do with before 2005 they needed to go a different route ie. the mortgage code) the only point they could use was 'whether it was a condition of the loan that the insurance is taken out'.

 

So basically if you are saying records need to be kept for 7 years then they only needed to keep them until January 2010. So am too late, although in my defence I did lodge my complaint with the FOS in Feb 2008, which then would of been within the seven years. This is why I can't understand why they waited until now to tell me there were no records, if they had asked for them in 2008 they would of been available.

 

I think I will ring the FOS and tell them this information. How can I find out for definite how long records have to be kept, and do you think this is worth mentioning as the FOS seems to have come to their decision based on the fact that there are no records apart from signed loan agreement (which maybe wrong, we were desperate for loan and would of signed anything).

 

Thanks, Tracey

 

Sorry if I confused you. Records have to be kept for 7 years after the account is closed so there is no reason why LOAN shouldn't have them available. I'm pretty sure it's Revenue & Customs. This is why lots of companies have come unstuck with the CCA requests. They basically destroyed all the relevant data believing it would never come back and bite them in the a*se. Of course this has all changed now they are allowed to reconstruct documents etc.

 

Thanks

Scrapper Coco 8-)

[tagal]

Scrapper,

 

I have sent a letter to the FOS today stating I would like complaint passed to the Ombudsman on the grounds Loans.co.uk had penty of time to provide transcripts of the initial phone call, and the FOS should of asked for it earlier. Also if Loans.co.uk say they don't have it then as you say, this is lost evidence for my case. Of course we ticked the box, as we were told the loan would be available if we did.

 

I don't hold any hope for this as am sure they side with the loan companies but I am still going to fight as the FOS conclusion doesn't make sense.

[Scrapper]

Scrapper,

 

I have sent a letter to the FOS today stating I would like complaint passed to the Ombudsman on the grounds Loans.co.uk had penty of time to provide transcripts of the initial phone call, and the FOS should of asked for it earlier. Also if Loans.co.uk say they don't have it then as you say, this is lost evidence for my case. Of course we ticked the box, as we were told the loan would be available if we did.

 

I don't hold any hope for this as am sure they side with the loan companies but I am still going to fight as the FOS conclusion doesn't make sense.

 

Never say never. You could find that the appeal goes in your favour believe me. I thought my case was dead and buried until I put doubt in FOS head and they are reinvestigating before it even gets to the final stage.

 

Sometimes you just have to make them aware of the facts as they are independent and are not always well versed in these matters.

 

If you look around the forum there are plenty of people whi have appealed and WON

 

It's not over yet so chin up

 

Thanks

Scrapper Coco8-)

[tagal]

Thank you Scrapper.

 

I have emailed my letter to the FOS and mailed it also. They have emailed me today to say that they are passing my case to the ombudsman. The more I think about it, the more it stinks. They have basically ruled in their favour because they have no record of the phone call. It doesn't seem fair, I would think that the loan company need to provide evidence. I don't know how much difference it will make being passed from the adjudicator to the ombudsman but at least they will have another look at my case. After all I have been waiting for nearly three years for this outcome, so I have one last try I guess.

 

Will keep you posted if I hear anything,

Thanks again.

[Scrapper]

Afternoon

 

The problem lies with them (LOAN). If you are complaining because you were sold PPI on the pretence of being granted the loan then your complaint is a legitmate one. It is now up to FOS to make sure what you are saying is correct and without that taped recording how can they come to the conclusion that you knew what you were doing? They can't because as we have seen with the adverts all over the TV every 5 seconds of the day PPI was mis-sold in a massive way due to the high commisions and profits earned by individuals and organisations like LOAN. You may well have signed the paperwork but that mean sweet FA if you were signing and agreeing because that's they only way you'd get hold of the money. They haven't lost the recording trust me on that one. If a solicitors letter dropped on their desk and the possibility of legal action persued they'd soon find it. The know full well that FOS have very limited powers so they play the long game in the hope the cards fall in their favour. It's 50/50 all the way and the rely on that factor.

 

If you go back at FOS with a little knowledge then it makes it harder for them to ignore you / fob you off.

 

As you have stated already this has been sitting on his/her desk for 3 years and they make a ruling because LOAN can't find a very VITAL piece of the puzzle. This is what FOS tried with me and A&L but I knew more about A&L corrupt dealings than they did. It wasn't until I pointed it out that they took a step back and started looking again. Doesn't mean I'll win but it makes me feel better knowing the fight isn't over just yet.

 

Would you settle for that attitude if your bank just happened to lose your money but couldn't provide you with any detail about where it had gone? No you wouldn't so don;t accept it from FOS.

 

They are so swamped with complaints I don't think they no what direction to turn. You just happen to be the unlucky one that day. Keep fighting them and don't give up.

 

Scrapper Coco 8-)

Edited November 18, 2010 by Scrapper