Scottish Life Endowment policy not wanting to pay

[honeybee13]

Hello again. That's extremely disappointing about the FSA. I assume you've been through the Ombudsman service as well. I'm sorry I don't have the expertise to help you, but I wish you all the best with this.

 

HB

[makeitbetter]

Hello is there any point going past the adjudicator as it is the same place and this woman did not do her work and this will be stretched on and on through anyone else there. If I could say we would be repossessed next year so hurry up then I may have tried this approach but I ma depending on the lazy woman to accelerate it to the ombudsman

[dirkuberpower]

Why was the FSA (Financial Services Authority) dealing with it?

[honeybee13]

I'm really sorry, I don't know. But I hope someone will. If you don't hear in a day or two, bump your post.

 

HB x

[makeitbetter]

ok thanks for that

[BankFodder]

Yes, I don't understand either. Was it the FSA? or was it the FOS?

[makeitbetter]

Sorry it is the FOS. There is an update, we went to apeal and provided more evidence which pointed out that, the 'waiver should have covered the three months and they had mislaid an earlier payment. Everything had rested on this cash payment we had made in order to keep it in order even though they had not fixed it yet. Phone call made telling us to pay cash into Bank of Scotland, this was done and phone calls made to confirm it was received as it was their bank and cash helped it to go through at a faster pace. I so wish we had taped things as they had said 'we can see your payments and it is up to date but we dont know what is going wrong' The FSA dropped the previous argument and still backed them by saying that the company had now found the cash payment but it was still our fault as they had no record of us telephoning them and the money had gone elsewhere. this is despite the fact that it had been paid we had taken names and dates and times when calls were made. As this was yet another payment which had gone 'adrift' even though they had at the time confirmed it had been received. My argument is soley that they had been receiving the money, we had made calls the bank payments had been agreed and the waiver they had attached to account had been attached to three months which had already been paid and they had made it look as if the following three months had not been paid showing an arrears.

 

I dont think they have a leg to stand on but the FOS has said because they dont have record of calls it is not their fault but ours. So we now know that the FOS ask us for more proof, we come up with it and they just seem to work with the company to supply what to me seems flimsy excuses, when we have provided substantial proof that the money went to the company and they knew about it as were always having to phone and go mad as it happened 3 times!! so can we now go to court with these people as we went to appeal. what do we have to do and we could do with advise as we are now not covered for death and we are due to be paid out this year.

[makeitbetter]

Ombudsman and royal/scottish life

We had put a complaint in to the FOS about how we have been treated by Scottish life/Royal.

 

We had been making payment through

direct debit

and they have been drawing them. We are due to get our money next year and suddenly they are saying you are in arrears and sending cheques back, then apologise as money had gone somewhere else in the company instead of to our account.

 

Happened three times, each time we have had to chase up the third time they said it was our fault that it had gone astray in the company. The second time they said that we were short, discussions were had and money paid by into account whilst it was getting sorted, as we could not afford to get behind.

 

We think that they did not expect us to have kept all info. We appealed and they came out with 'it is our fault computer didn't record properly as we had not paid'.

 

Argument by both bank and now

Ombudsman

is that they had offered some 3 months credit to account as compensation in 2nd instance and we had taken too long to accept. But we had paid extra money in to ensure that we were not behind and this had been done in conjunction with themselves and in cash into their own bank (Bank of Scotland) They had confirmed they had received it, this is the way they had suggested until it got sorted out.

 

The waiver was then allocated to 3 months we had already paid making it look as though we had missed three months. (we later asked for payment details from the company and from the bank)

 

We thought nothing of it as we knew that our payments and the 3 months waiver (compensation money) they had offered had been attached as they had accepted our signing and acceptance (letter said reinstating) and account started again made payments and it went ok, again months later get cheque covering about 4 months payments (had been paying it monthly direct debit) but they had closed account once again saying money had not been paid, but what had happened is that money went somewhere else within the company again. Had said money was getting attached to the wrong account, which resulted in our account looking unpaid.

 

Then went to FOS with complaint as we need reinstating as money due next year.

 

I put everything very clearly in order with details of all payments backed up with letters where they had originally said sorry admitting computer problems,

letters after bank details of payments which showed all payments had been made and copy of the extra payment (copy of cash receipt) to bring back in line the first time.

 

I receive a letter from FOS which had 5 lines about our points and then 2 and a half pages pointing out that because we didnt accept the 3 months compensation quick enough it caused them the problems.

This is even though we had made the extra payment in discussions with company who then said everything was now fine the acceptance came later which was accepted in a letter. How it goes when reinstated for the first 2 months money goes in okay then goes adrift.

 

FOS said that they accepted what the company had said and did not uphold our case

even though everything was there and it was plain to see that due to inefficiencies of the company somethings had gone wrong with allocating payments to our account from the direct debits taken.

 

We feel so let down, as I know I had everything to back all up what we had said and I know that Scottish life/royal didnt have a leg to stand on.

I phoned the FOS person and she said if there is anything wrong with what she has said we should write her before the 15th Nov.

 

 

UPDATE

We appealed to FOS and sent additional info and thought we would at last get a fair 'shake' but no, even though the company at last say that had received the cash payment (which they previously didnt) The FOS now say that the company received the money but it went into a big pot and it is our fault and they have no record of our calls. Shows how important it is to photocopy everything you have or get.

 

We now wish to claim for all the money we will be due this year plus compensation as time is running out. Can someone assist us in this? Can someone also shed light on why the money may have gone astray as when it happened the second time we were set to call the police in. How can someone say I can see it on the screen and it shows your account is up to date then say the money has gone elswhere? So can anyone give us advise on going to court THANK YOU

 

 

We are worried

 

Edited February 22, 2011 by makeitbetter

[makeitbetter]

We put in a complaint to FOS regarding breach of contract by Scottish life who did not want to pay the dividends bonuses etc on our account due this year.

 

We paid by direct debit through the bank, they received money. kept writing saying closing account through arrears, then when challenged said found money but it was attached to another account. Happened 3 times as sent back cheque for full amount which they say they never had adn closed account 3 times as paid up.

 

The last time said all our fault as in arrears. Got cheque back again for arrears amount which they 'found' in their account, but it is our fault because we did not sign a compensation for 3 payments (sent to wrong address) but we had paid the 3 months up front whilst sorted out. Final letter said it is our fault computer messed up and closing our endowment.

 

Went to Fos adj backed them saying we messed up their system and company said could not ind any money paid for the 3 months. Luckily had copy of cheque. On appeal then said received but our fault as went into pot of company and did not know they had it. even though they advised us which bank to put it in (paid 3 months into their account cash) and what to write on it.

 

We were fed up and stressed as due this year. We have lately gone to solicitors for advise and they say that the contract has been breached by the company and these type of companies will try and wriggle out of paying if they can and rely on people not have copies of things like cheques and letters.

 

Sent letter back now to company asking for payment or going to sue for breach of contract. Also asked for FOS to forward to ombudsman as only adj dealt with appeal.

 

Has anyone got an endowment policy with Scottish life /royal and missed one or two payments and did it still remain with you and not get allocated somewhere else and your account closed. W:?:e need someone to just add weight to argument

 

thanks

[sir_gilmour]

makeitbetter welcome to The Consumer Action Group community.

 

You haven't received any replies to your problem yet so you might be better off posting your story again directly in the sub-forum which deals with your kind of situation. You will get lots of support there.

 

Also, spend some time looking round the forum. Once you understand the layout, you will be able to get best use from this Consumer Community. It is a big forumm and may take some time. But it will be worth doing.

Good luck.

[rebel11]

Thread moved to the correct forum.

[makeitbetter]

We took out a mortgage in 1986 for 23 years. the bank has changed the years as time has gone on from 2009 to 2011, 2012 and 10 months, 2013 and 10 months.

 

Everything has been calculated using 2009 and we were continually charged higher and higher monthly payments. The endowment finished in 2011 and so they say now did the mortgage and I made a lump sum to pay off the arrears they say we owed in 2011. All these years they have been adding charges and raising the payments. They sent us something saying they would be adding on £3000 for something (looking for letter now)

 

All the paperwork has different years on and we fell into arrears due to these high payments (borrowed 28995 endowment) and 20,000 in 2003. We have been charged to pay £615 each month. We have regularly written and informed them that they had made mistakes but they are not having it.

 

solicitors took us to court in 2007 and also stated that it was 23 years and was due to finish in 2009 and they have also signed it to say so indicating that they had access to They are saying it wasnt 23 years and have skimmed over the different years and seem to have sent us some papers with what they think are the same years but when you look closely some of years are different. Nothing is right

 

I think that when recalculating each year to determine our next years payments they calculate, I don't know what they calculate in looking at the remaining years

 

We are looking at the recalculations and the bank charges, may do bank charges as separate claim. So if someone can give me some kind of draft which wont confuse as I think confusion assists in knocking people back

 

thanks

[makeitbetter]

Advise how to phrase complaint to ombudsman

We took out a mortgage in 1986 for 23 years. the bank has changed the years as time has gone on from 2009 to 2011, 2012 and 10 months, 2013 and 10 months.

 

Everything has been calculated using 2009 and we were continually charged higher and higher monthly payments. The endowment finished in 2011 and so they say now did the mortgage and I made a lump sum to pay off the arrears they say we owed in 2011. All these years they have been adding charges and raising the payments. They sent us something saying they would be adding on £3000 for something (looking for letter now)

 

All the paperwork has different years on and we fell into arrears due to these high payments (borrowed 28995 endowment) and 20,000 in 2003. We have been charged to pay £615 each month. We have regularly written and informed them that they had made mistakes but they are not having it.

 

solicitors took us to court in 2007 and also stated that it was 23 years and was due to finish in 2009 and they have also signed it to say so indicating that they had access to They are saying it wasnt 23 years and have skimmed over the different years and seem to have sent us some papers with what they think are the same years but when you look closely some of years are different. Nothing is right

 

I think that when recalculating each year to determine our next years payments they calculate, I don't know what they calculate in looking at the remaining years

 

We are looking at the recalculations and the bank charges, may do bank charges as separate claim. So if someone can give me some kind of draft which wont confuse as I think confusion assists in knocking people back

 

thanks

 

No one responding though

[MSAR]

The common answers are to request a copy of the original agreement, and use the Data Protection Act to get a copy of all statements in order to calculate payments and charges. Use recorded delivery to make sure they can't deny never having received your request.

 

Once you have all the financial details, you can use a free spreadsheet program like OpenOffice to calculate the total amounts paid, as well as create tables that show how the interest rates and minimum payments varied and accumulated over the years. There are spreadsheet templates on this site that can help. You can easily create your own spreadsheets as well.

 

Then you can send them a request for a refund, and if they refuse, send a complaint to the Financial Ombudsman.