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Beneficial Finance - PPI and Personal Accident Plan **WON**


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Afternoon, firstly thanks for this wonderful site. Its given me the confidence to ask some serious questions of the lenders I have dealt with and has made me determined to try and claim back some of the money I feel I was 'conned' out of.

 

A few years ago I was very naive when it came to money and lending. Without really thinking I entered into a loan agreement with Beneficial Finance who really took me for a ride. The interest they charged was absolutely criminal, but on top of that the PPI and a personal accident plan were added which came to £893.88.

 

I have a Personal Loan Agreement which shows Life and ASU. Life being £180, ASU being £407 and with interest of £305.89. There are two boxes which should be ticked but instead the Life box has an 's' in it and the ASU a 'y'. When i took out the loan this was explained to me as being part and parcel of the loan and something I had to enter into. I did not to my recollection tick any boxes and I fully believe this was pressed upon me without my understanding. It is only really with the Media coverage that I have understood that this may now be deemed illegal and I may be able to recover these fees?

 

Can anyone advise if I would have a case and what my best course of action should be in the first instance? I have drafted up, using templates, a letter to them requesting a full repayment, is this wise as a starter?

 

Thanks again for your time

 

Saferidges

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Hello saferidges,

 

 

Afternoon, firstly thanks for this wonderful site. Its given me the confidence to ask some serious questions of the lenders I have dealt with and has made me determined to try and claim back some of the money I feel I was 'conned' out of.

 

A few years ago I was very naive when it came to money and lending. Without really thinking I entered into a loan agreement with Beneficial Finance who really took me for a ride. The interest they charged was absolutely criminal, but on top of that the PPI and a personal accident plan were added which came to £893.88.

 

I have a Personal Loan Agreement which shows Life and ASU. Life being £180, ASU being £407 and with interest of £305.89. There are two boxes which should be ticked but instead the Life box has an 's' in it and the ASU a 'y'. When i took out the loan this was explained to me as being part and parcel of the loan and something I had to enter into. I did not to my recollection tick any boxes and I fully believe this was pressed upon me without my understanding. It is only really with the Media coverage that I have understood that this may now be deemed illegal and I may be able to recover these fees?

 

Can anyone advise if I would have a case and what my best course of action should be in the first instance? I have drafted up, using templates, a letter to them requesting a full repayment, is this wise as a starter?

 

Thanks again for your time

 

Saferidges

 

If you are happy you have all the data you need and a valid reason to submit a claim for mis-selling then you should go for it.

 

I would advise you firstly to read through the stickies at the top of the forum there is a lot of information there which could be of benefit and help you along the way.

 

Better prepared before action.

 

PPI - Some Notes for Claimants..

 

Full SAR for ppi

 

and this one with tons of info some relevant to claiming and some general interest....

 

links

 

Do not be daunted by the amount of links pick out those you think will help link in and save those that could be of use to your favourites.

 

aa

  • Haha 1

I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

------------------------------------------------

Bank charge successes:

Halifax - Full settlement incl interest.

HSBC - Settlement, goodwill no admission of liability about 75% of claim.

RBS - Settlement, goodwill no admission of liability about 70% of claim.

2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did :mad:

PPI Successes

PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.

2 claims settled in full with LV without FOS involvement.

2 claims settled in full with HSBC without FOS involvement

 

PPI Claims ongoing with:

Cap one Now with the FOS

Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.

LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc

 

1 Complaint not upheld by FOS they said it was ICO issue. Complaint upheld by ICO. See this..

Post 290 from

***RBS PPI Claim Long fight but, WON***

 

Please do not PM me for advice as it may be sometime before I can respond.

 

Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.

 

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  • 2 weeks later...

Got a letter from HFC on Saturday informing me that they will be paying me the full premium with interest paid. In addition to this they offered the 8% on top of this which I would be due should this have gone to court. Have to say I am extremely surprised at how quickly this has been resolved, but I'm delighted at the outcome. Its taken under a week for it to get to this stage which i thought was unheard of.

 

Thanks again for your advice and guidance. Using the templates from the site has, I think, benefitted me greatly. Once i get the money i'll be making a donation.

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Be my pleasure to re-title your thread with a **WON**

 

watch this space :D

I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

------------------------------------------------

Bank charge successes:

Halifax - Full settlement incl interest.

HSBC - Settlement, goodwill no admission of liability about 75% of claim.

RBS - Settlement, goodwill no admission of liability about 70% of claim.

2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did :mad:

PPI Successes

PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.

2 claims settled in full with LV without FOS involvement.

2 claims settled in full with HSBC without FOS involvement

 

PPI Claims ongoing with:

Cap one Now with the FOS

Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.

LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc

 

1 Complaint not upheld by FOS they said it was ICO issue. Complaint upheld by ICO. See this..

Post 290 from

***RBS PPI Claim Long fight but, WON***

 

Please do not PM me for advice as it may be sometime before I can respond.

 

Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.

 

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urm.well done

 

so hfc are coughing up again.

 

i think i'll write them a letter just to bump my topped up loan which goes back to the 1990's that they said is statute barred.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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I have a complaint with the FOS regarding my ppi with beneficial, is it worth my while writing to them to see if they will back down or do i need to wait for the FOS now the complaints with them? To be fair it's been with them 15 months now and i'm getting a little fed up of waiting..

Saferiges, do you have a template of the letter you sent to them?

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Hi, i used the following as the text for my letter

 

#################################################

 

I purchased Payment Protection and Personal Accident Cover on the above policy from you in November 2004 but now believe that I was mis-sold this policy for the following reasons;

 

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

·Your salesperson implied that taking out the policy would assist my credit application.

·Your salesperson was very pushy in selling me the policy so that I felt I could not say no.

·Your salesperson did not tell me that the policy was optional and I have since realised that I have alternative insurance cover.

·Your salesperson did not give me full information on what the policy would and would not cover

·I am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

 

Additionally, due to the fact that you have been fined by the FSA for failing to treat your customers fairly when selling Payment Protection Insurance and I do not believe that my policy was sold in my best interests.

 

Unless you can satisfactorily justify to me that the policy was fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. 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 the premium paid.

 

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

 

Yours faithfully,

 

 

###############################################################

 

 

Hope this helps

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