HELP needed re. ppi

[landersd]

Hi i need advice re ppi.

 

I have a credit card with lloyds that i,ve had for 5 or 6 years .

for the first 2 years i had ppi that i didnt even know about, when i discovered it i cancelled it.

 

i now have a balance of 3grand.

 

how do i make a claim..... should i i do a sar first or send the letter requesting a copy of the cca.

 

Regards

 

Digger

[maroondevo52]

Hi, landersd.

 

I'll move this thread to the PPI Forum.

 

Have a look at Alanalana's post in this thread, that should get you started.

 

http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/204609-blackhorse-ppi.html#post2229622

 

 

 

Regards.

 

Scott.

Edited June 20, 2009 by maroondevo52

[alanalana]

hello digger,

 

Hi i need advice re ppi.

 

I have a credit card with lloyds that i,ve had for 5 or 6 years .

for the first 2 years i had ppi that i didnt even know about, when i discovered it i cancelled it.

 

i now have a balance of 3grand.

 

how do i make a claim..... should i i do a Subject Access Request first or send the letter requesting a copy of the cca.

 

Regards

 

Digger

 

SAR is the way to start IMO.

 

Full SAR for ppi

 

Data Protection Act 1998 - Subject Access Request

 

You should specifically request the following documents:

 

A true copy of your Consumer Credit Agreement with the Terms and Conditions that were applicable at the time you took the credit card.

 

Copies of all statements applicable to the credit card.

 

Copies of all correspondence that apply to you as a data subject ie letters, emails, faxes etc.

 

Copies of all recorded telephone calls or transcripts of the recordings.

 

A copy of the needs and wants/ customer duty of care questionnaire... here is an example.

http://wwwa.mbna.co.uk/insurance/files/CP0608_INSU_MB_LP_S.pdf

 

Copies of any notes made by any staff in their dealings with you.

 

Also have a look in these links for further help.

 

PPI - Some Notes for Claimants..

 

links within this one are loads more links here are a couple that may help..

 

For claims before 2005 and the FSA ruling from which campaign

How to tell if you’ve been mis-sold PPI

 

Quick check: were you mis-sold? - How to tell if you’ve been mis-sold PPI

 

THIS LINK IS IMPORTANT TO YOU ON RECLAIMING IT IS FROM 2001 FROM THE FOS

loan payment protection insurance and a quote from this link...

Quote:

When determining whether a policy is suitable, a seller – whether a lender or an agent for the insurer – must obviously take into consideration any information the prospective policyholder volunteers. However, we do not consider the seller’s duty is limited simply to recording what the borrower discloses. It is only by asking questions that the seller can properly determine suitability. These questions cannot cover every aspect of a borrower’s personal position and should not be expected to do so. To paraphrase the ABI Statement, only those matters deemed to be relevant by the insurer should be the subject of questions.

 

The Subject Access Request will cost £10.00 but it should get you all the data on the credit card.

 

Have a look around for cheaper PPI you can google moneysavingexpert and you should find cheaper PPI insurance on the insurance tab at the top of the site.

 

I hope this helps.

 

aa

 

 

PS This is a letter I used when claiming mis-sold PPI please use it just edit to your own particular case.

 

I am now convinced that I was mis-sold these PPI policies for the following 7 reasons:

 

1. Responsibilities When Underwriting a Policy of Insurance: On each occasion, when the details of a loan were discussed Your sales advisors failed to check my personal circumstances at the time of the sale, which they are under obligation to do when underwriting a Policy of Insurance. If they had done so, they would have realised that the PPI policies were useless to me. At no time was any attempt made to ascertain if the product provided was fit for purpose, suitable for my needs or if indeed it was required at all.

 

2. Alternative Insurance Cover: Your sales advisors in each case failed to ask me if I had any alternative arrangements for insurance cover. My employer has a generous illness package which would cover a period of sickness as follows: 6 months full pay followed by 6 months half pay. I would also be entitled to a generous redundancy package and a substantial payment would be made in the event of my death in service (more than suffice to clear the balance of the loan).

 

 

3.Failure to Supply Important Information with Regard to Significant Policy Exclusions: I was most definitely not informed that the PPI policies could contain certain exclusions which could affect me and my ability to claim on the policies if I should need to. Additionally I was never told that Pre Existing Medical Conditions could invalidate my policy and I was never asked if I had any Pre Existing Medical Conditions. Indeed your Loan Customer Duty of Care Checklist and the Loanguard Certificate of Insurance to which the Customer Duty of Care Checklist refers (forwarded under cover of Reference N) contain no reference to any Pre Existing Medical Conditions or includes any questions to me on the subject. I am in fact in receipt of a 40% War Disablement Pension from Her Majesty’s Government (HMG) since 1991. One element of this pension includes back injury which I now know is an exclusion in your PPI Policies. I also believe that I would also be excluded on at least one other existing condition.

 

4. Widespread PPI Mis-Selling: I cancelled the PPI policy on xxxAccountNo xxx on 7 Jan 2007 after becoming aware of the widespread mis-selling of PPI by some financial institutions, following recent media coverage and recent OFT and FSA investigations regarding the mis-selling of PPI. I believe this is borne out by Point 3 above. I am also aware that the question of PPI cover is the subject of an ongoing inquiry by the Competition Commissioner.

 

5. Wholly Inappropriate PPI Selling Bonuses: I understand that some employees are paid higher bonuses if they get prospective creditors to take out PPI with loans. How can the best interests of the customer possibly be met, if there is a clear conflict of interest between your responsibilities to me, and the drive of your employees to sell Payment Protection Insurance whether it is suitable or not in order to receive bonuses?

 

6. PPI Loan Interest payments miscalculated: Since I cancelled the policy, I have actually received a smaller reduction in the PPI loan interest payments than the figure stated on the agreement. The explanatory letter sent to me has, I believe, confirmed that I have paid for single premium PPI policies on each loan taken with your establishment.

 

7. True Nature of Single Premium PPI Not Explained: No explanation was forthcoming from any advisor on any occasion on the full extent of single premium PPI policies or the fact that they would offer little or no refund if the loan was settled early or if the insurance was cancelled. The statements you have forwarded on accounts xxx and xxx, show no element of any refund of PPI or PPI interest when the accounts were settled on refinancing. There was also no explanation that the cost of the PPI premium would be added to the total cost of credit and interest added for the full term of the agreement. I believe this practice is unlawful.

 

I now believe that the single premium PPI policies attached to the loan accounts were both extremely unfair and totally unreasonable and offered me very little, if any protection value whatsoever. I am therefore requesting a full refund of all costs including all single PPI premiums that have been paid, the interest added to these premiums and the payments, that I have paid to date.

 

aa