Alliance & Leicester - PPI letter

[steve76]

hi

 

posted this under my thread titled rockwell dept collecters earlier asking for advice

 

received letter from alliance & leicester this morning quoting :-

 

a) the FSA has identified problems with our payment protection insurance (PPI) sales process for unsecured loans recommended on an advised basis through our telephone sales channel between 14 january 2005 and 31 december 2007

 

b) you need to review your policies and your situation .if you think you are affected by the issues covered in this letter . contact us immediately

 

c) depending on your circumstances you could be entitled to a refund

 

d) any PPI currently in place on which a refund is paid would be cancelled and the protection you have on that policy lost

 

 

the letter goes on asking to contact the hotline or in writing , before june 30th

 

is this a reaction to me sending the subject request letters to both them and rockwell dept collection as seems strange to receive this out of the blue ??

 

any help with a letter etc would be much appreciated , thanks as always for your valuable help

[nancyspain]

Hi Steve I too got one of these letters. I didn't know I had a PPI I rang them up and told them I didn't need one. They sent me out a form to sign followed by a new agreement to sign. Basically what they did was close the first loan then openned a new one. I then got my cheque a few weeks later for the overpayment of the PPI. I don't think anything you have done resulted in this letter. From what I know they have written to quite a lot of people.

Hope this helps.

Nancy:)

[pmhcfc]

Hi Steve I too got one of these letters. I didn't know I had a PPI I rang them up and told them I didn't need one. They sent me out a form to sign followed by a new agreement to sign.

Nancy:)

 

Um...A new agreement to sign?? Is this just a clever trick of paying out a few quid to people for 'mis-sold' PPI (even if it wasn't) but at the same time, getting a new agreement signed because the old one was unenforceable?

[angry cat]

A&L have been fined by the FSA:

 

FSA Register

 

AC

[Emma Royd]

I had one of these about a month ago. I've been in turmoil knowing what to do about it

 

. I rang A & L last May and told them I was redundant and that I had to cancel direct debit on my loan due to going on benefits. Filed ppi claim and to this day i've not heard a word No harrassment, no ppi payments, nothing. I've ignored the letter because I don't want to rock the boat x

[abbacus]

I got over £3,000 back from A+L in mis-sold PPI on a secured loan which I had repaid, after getting the FOS involved - despite A+L having previously denied any mis-selling took place. When the loan was taken out over the telephone A+L implied I wouldn't get the loan unless I took out PPI. (And I didn't know any better at the time).They later denied this was the case but would not/could not produce the tape or transcript of my telephone application which I asked for in my SAR. It now transpires mis-selling was rife, hence the FSA fine and the letters to other customers who may have been affected.

[pmhcfc]

It now transpires mis-selling was rife, hence the FSA fine and the letters to other customers who may have been affected.

 

Oh I don't doubt that - but by setting up a new agreement, it also

makes it fail safe for A & L in resepct of an old agreement being

unenforcable. Don't think I'm being synical, I just wouldn't put it

past any loan company to do this....after all, it's been done before.

[angry cat]

Obviously, it depends on how much is still outstanding on the account.

But, I would suggest that all concerned should make a SAR to ascertain how much is owing;

PPI premiums plus interest and any charges levied.

Subtract that amount from the oustanding balance, it may well be that the refund will wipe out the amount of the loan.

 

If that is the case, then it should be possible to clear the loan without the need of entering into a new agreement.

 

You just have to do the maths.

 

AC

[angry cat]

Remember, that any new agreements that are signed, will be with Santander and not A&L!

 

AC

[steve76]

received a letter from A & L saying receipt of my ppi letter and will look into it

 

not holding my breath though , still awaiting response from them regarding the loan ( rockwell dept collectors keep ringing me but never answer)

[steve76]

hi all

 

received a letter today from A&L saying they accept my claim and offerfing £745 in total BUT as ive defaulted on my loan they will be taking it off the balance owing them

 

are they allowed to do this as it is money ive already given them over the years ? can i ask them to pay me that sum direct to me ?????

 

please advise

[steve76]

hi

 

this is on behalf of my 65yr old father

i told him to write letter to lloyds tsb claiming mis-sold ppi on his loan, which he did

 

today he received a response , the letter clearly sates that he didnt require extra insurance as he had enough cover with from other sources to pay the loan , it even says that their advisors have said this during the application..however , above my fathers signature a tiny box has been ticked requesting insurance on the said loan , my father is adament he wouldnt have ticked this box after supposidly being told in no way did he need this as he as other insurances etc to cover it

 

is it possible that lloyds tsb ticked this box to include it ?

 

im not sure what to advise him to do next as to respond to this letter

 

any advice will be much appreciated as always

 

thanks

[steve76]

does he have any grounds to send another letter ??