CCA, charges & credit agreement

[MrZ]

Hi Ace,

 

Just curious to know how you are getting on with your claim?

[Dibbothe3rd]

This is a multiple agreement (ie.loan + ppi) the ppi should be included in the TOTAL charge for credit....BUT should have seperate details on apr,total cost of ppi and also how much each month for the ppi,this figure can then be added to the monthly repayment... need to see agreement to comment further

 

 

Sorry to hijack a little, but does the multiple agreement with other insurances such as Mech Breakdown and Gap Ins on a HP apply in the same way as as Ace's loan agreement with PPI?

[Ace of Spades]

Ok so it's been sometime since I've been on here. I never did get on with this claim, can't think why now...

 

I've had to have a good read through these threads to remember where I got to with everything. I forgot how good this site was, and how great the people are here at fighting back!

 

OH has since been contacted by FSCS about PPI claim. With regards to the information I posted about the SAR declaring the insurance boxes were NOT ticked on the application form, and that the signature looks different, do I mention this to the FSCS - I was advised when claiming to Welcome to hold back this information.

 

Another question - is it still possible to get charges back now this is being handled by FSCS?

 

Any help appreciated, I'd like to get the claim right first time!

[dx100uk]

i think you will find the contact might be welcome staff?

 

the FSCS took over the welcome stuff when they collapsed 18mts ago.

 

where has the letter come from?

 

dx

[Ace of Spades]

Hi dx, thanks for replying quickly.

 

the letter just appeared one day sometime last year, out of the blue. There is a letter from FSCS and a letter from Welcome, and an application for compensation of PPI.

[dx100uk]

good to see you back......

 

i would suspect that is the welcome staff acting under the FSCS rules

 

ok so are you looking to get this running again.

 

dx

[Ace of Spades]

Yes, I really want to get our debts reduced as much as possible.

 

I really don't know why I didn't do it at the time!

[dx100uk]

so you got all the details?

 

dx

[Ace of Spades]

I think so! I have the amounts as written on the agreement, and dates of payments, but no further documentation was sent in the sar.

 

I have my original spreadsheet to work out the amounts, just need to update it. There is still money owing on this, do I still include 8% interest?

[dx100uk]

charges & PPI will be sep Spreadies

 

PENALTY fees upto 6yrs old can be reclaimed at their int rate

 

foscisheet

 

ppi the staint sheet

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

see below too

 

dx

[Ace of Spades]

thanks, I'll take a look at those, make sure I've got it all tight.

 

I'm going to do the ppi first, one thing at a time!

 

I did already write a letter before, but I'll review and post back with spreadsheet. I had problems posting it last time though...

[dx100uk]

set your default scan page size to A4 less than 300DPI [150 will do]

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

'

BUT......

ENSURE: remove all pers info inc. barcodes etc using paint program

but leave all monetary figures and dates.

*********************************************************

{DO NOT USE A BIRO OR PEN OR USE SEE THRU TAPE OR LABELS]

try www.pdfescape.com TO BLANK STUFF,

*************************************************************

or

DO IT IN MSPAINT.EXE or any photo editing program

goto one of the many free online pdf converter websites ...

http://freejpgtopdf.com/

if you have multiple scans/pics

put them in a word doc FIRST and convert that to PDF

or use www.pdfmerge.com

convert existing PC files to PDF [office has an installable print to PDF option]

..

 

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

or if you have PDF as an installed printer drive use that

or use word and save as pdf

try and logically name your file so people know what it is.

i'e Default notice dd-mm-yyyy

.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

.

dx

[Ace of Spades]

Thank you that's really helpful!

 

Now, should I be filling in their form, or is it ok for me to write my own letter - or do both?

 

Could you clarify something for me though? If the claim is successful, does the PPI get removed from the loan AND the PPI payments refunded? I just need to be clear about what to expect. You know when you look at something for too long and you just can't make sense of it any more!

 

I have attached my spreadsheet for PPI payments as a pdf. I hope it works ok.

 

Loan figures: 1000 loan, 441.54 PPI

Edited February 23, 2013 by Ace of Spades
Added loan figures

[dx100uk]

for the PPI you'll need to fill out the FOS CQ

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

 

and a simple covering letter

 

Dear Sir or Madam,

Re:

 

I am writing in relation to the above payment protection (PPI) policy which i believe was mis-sold to me in

relation to my

I believe you have not treated me fairly for the following reasons;

· The PPI was added without my knowledge..

· You have been punished by the Financial Services Authority for failing to treat customers fairly and I do

not believe that the PPI I bought was sold in my best interest.

Unless you can prove that the policy was fair and reasonable and that I was treated fairly when I was sold the

insurance, I demand a full refund of all premiums, and subsequent interest on these payments, that I have paid

in relation to this policy. I also expect 8% interest to be added to each payment I have made as this is the

statutory amount a court would pay.

I look forward to your full and prompt response to this letter. If this matter is not settled within eight

weeks of this letter I shall be contacting the Financial Ombudsman to investigate my complaint.

This letter is in respect of the above account that was issued by

Yours faithfully

or

The Complaints Department

[Lender’s address]

[Date]

Dear Sir/Madam,

Ref – policy number

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund

of my premiums, plus interest paid.

I took out a £xxx loan/credit card at your [branch name] branch on [date] and also bought a payment protection

policy which would cost me an extra £xxx over the life of the loan. [The name of the salesperson who sold me

the policy is …] The total amount of my premiums plus interest is £ xxxx.

When I took out the loan, I was told that my application would be refused if I did not also buy a PPI policy.

The Financial Services Authority’s advice to consumers is that, while it does not breach FSA guidelines, a

borrower should not be refused a loan if they choose not to buy an insurance policy.

Possible additional paragraphs – include any which apply to you

[i also told your salesperson that I had adequate insurance cover through a separate income protection

policy.]

 

[i said I did not need the PPI as my employer provides a generous illness and redundancy package.]

[You are not allowed to make PPI a condition of taking out the loan unless you include the costs of PPI in the

quoted interest rate, which you did not do.]

[in forcing me to buy this policy, you have also breached paragraph 8.6 of the Banking Code, to which you are

a signatory.]

I do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as I

did not need this insurance and said at the time of taking the loan that I did not want it.

I am requesting a full refund of all my insurance payments, plus interest, which total [£ xxx].

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.

Yours faithfully,

 

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

 

as its done by the FSCS the payment will go off the balance

 

you should get the 8% to your pocket though.

 

as for the charges

 

there is a credit card charges complaint letter in the library adapt that

 

dx

[Ace of Spades]

Thanks again dx, you're a great help.

 

Right think I need to leave this for tonight and I'll have a crack at those letters in the morning.

[Ace of Spades]

Ok here's my letter:

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

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

 

I took out a £1000 loan with you on 31st December 2007 and also bought a payment protection policy which would cost me an extra £441.54 over the life of the loan. The total amount of my premiums plus interest is £642.91.

 

When I took out the loan, it was implied that my application would be refused if I did not also buy a PPI policy. The Financial Services Authority’s advice to consumers is that, while it does not breach FSA guidelines, a borrower should not be refused a loan if they choose not to buy an insurance policy. In forcing me to buy this policy, you have also breached paragraph 8.6 of the Banking Code, to which you are a signatory.

 

I request cancellation of the policies with immediate effect, as well as a refund of all premiums paid to the policies, plus any additional penalties charged to me because of the insurances, under the accepted principle of mutuality and reciprocity. I would also like to claim statutory compensation in view of the fact that I have been deprived of the use of this money (I have enclosed a spreadsheet showing the amounts to be refunded).

 

I am requesting a full refund of all my insurance payments, plus interest, which total £518.39.

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.

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

 

I have filled the form out too. Would you be able to cast an eye over my spreadsheet for me please, to make sure that is all in order. If all is fine I will be sending this off tomorrow

[Ace of Spades]

I sent this off today, so hope it was all ok. I didn't want to leave it again!

 

I sent it by recorded delivery so will keep an eye on when it is received.

[Ace of Spades]

I received a letter back from Welcome, it didn't actually say anything relevant, just that the FCFS were in control and they had sent our questionnaires, that was it (have attached it in case it's of any interest). I left it at that as I presumed this is a standard letter. I'll give them the 8 weeks and then will give them a kick before going to FOS.

 

I have sorted the charges spreadsheet, so would be grateful for some one to take a look at that before I send it off.

 

What is strange, I checked OH's Noddle report this morning, his Welcome balance had changed from £1300 odd to just £100, and this new balance now appears all the way from Feb 2010!! It says it was updated on 29th Feb '13. Last months report showed the £1300 balance for the last couple of years. Bit confused as we've not heard back from them yet, bar the letter mentioned above.

[dx100uk]

where are the statements the charges came from please?

 

dx

[Ace of Spades]

Here you go dx.

 

By the way, I think you and others like you on here are just great - you give up so much time to help people like me, it's really inspiring! So thanks

[dx100uk]

typical welcome statement

 

al absolute rubbish and made up.

 

are you saying you are still paying this...

 

pers i'd write welcome a letter

 

the agreement is invalid and falsified

so thus under the CCA you should get aLL you payments back + 8% int.

 

the bit you related to above about the sig i senough

 

howver

 

add to your charges list...

 

fee assessment [hidden penalty charges int]

 

5/1/9 fee

9/1/9 fee

7/1/9 letter fee

9/4/10 letter

[Ace of Spades]

So what do you suggest, go for the charges then claim for payments after?

 

Could you explain why the agreement is invalid and falsified - if I need to write a letter I'll need to get the details correct!

[dx100uk]

ref post 11

 

dx

[Ace of Spades]

After a burglary, house move & Christmas I was just checking to see where I had got to with everything. I posted previously that Welcome had reduced the amount when I checked the noddle report. Well I've just checked and OH's account has been marked as settled

 

Success!

 

Thank you to everyone at CAG who has helped directly or indirectly - and especially to dx100uk - you're an absolute star!

 

I am so glad I came here and learned to fight back!

[dx100uk]

did you reclaim then or get the money back too?

 

I hope the default has gone too?

 

The Consumer Action Group needs help to cover itsexpenses.

You could help by making a money contribution to http://www.consumeractiongroup.co.uk/paypal.php?go=donate

dx