K+co Cat, PPI REclaim - success thro CEO Letter **WON**

[gezwee]

If they're still charging contractual interest on the account you need to reset the end date to today, not a historical date in 2010....... please remember this is your money and you are only recovering the same compounded sums they have charged you in 'error' effective upon missold PPI.

 

You only cease claiming CI at the date the greedy feckers stopped charging it........ and yep, they will end up owing you money

 

Gez

[Glassart]

Hi ims21 & Gez,

 

 

 

Thank you for the quick reply,

 

The £9000 I owe K&Co includes some items that are buy now pay 2012 with interest would we have to pay the full interest if this gets paid off sooner that's if we are lucky to get our PPI back?.

 

 

THIS IS THE REVISED SPREADIE.

 

 

Regards J.T

[gezwee]

Hi ims21 & Gez,

 

 

 

Thank you for the quick reply,

 

The £9000 I owe K&Co includes some items that are buy now pay 2012 with interest would we have to pay the full interest if this gets paid off sooner that's if we are lucky to get our PPI back?.

 

 

THIS IS THE REVISED SPREADIE.

 

 

Regards J.T

 

Hi J.T

 

I think you need to adjust your view of who owes who what........... by your calculations [which appear accurate] you owe them nothing, they, on the other hand owe you over 4k and their indebtedness is increasing daily.

 

Complete the Fos forms for use as templates and start the process of putting them under pressure to restitute your money........... it won't be instant [although they do sometimes roll-over quickly] so be prepared for a few months of argument.

 

Shout when you get stuck on anything

 

Gez

[ims21]

Hi ims21 & Gez,

 

 

 

Thank you for the quick reply,

 

The £9000 I owe K&Co includes some items that are buy now pay 2012 with interest would we have to pay the full interest if this gets paid off sooner that's if we are lucky to get our PPI back?.

 

 

THIS IS THE REVISED SPREADIE.

 

 

Regards J.T

 

That's better.

 

What will happen is that they are likely to use a set-off to reduce the balance on the account by setting the ppi refund against the account. So this claim will significantly reduce the amount you owe.

 

Regards

 

ims

[Glassart]

Hi Gez & ims,

 

 

 

Right! so I send these two files/letters ASAP, I.E. the spreadsheet and the PPI-consumer-questionnaire (2 letters).

 

 

The last letter I got from K&Co was from the Arrears Collection Department, Do I send the two letters to them ?.

 

 

Am I right that they should be sent recorded signed for tracked?.

 

 

Regards J.T

[ims21]

Hi

 

Send a copy of the spreadsheet (you don't need to include the pink 8% list at this time), the questionnaire and a covering letter explaining why you think you were mis-sold and requesting the refund to their head office.

 

Send recorded so that you can see when they receive it.

 

Regards

 

ims

[Glassart]

Hi again,

 

 

 

Regarding the covering letter explaining why I think that I was mis-sold Account cover plus.

 

 

 

Is this ok ?. as I am not sure.

 

 

 

" Dear sir/madam,

I am requesting a full refund of my Account cover plus that was mis-sold to me as the Account cover plus was worthless to me because of my employment position I.E. I have never worked from before the cover started up to the present day".

 

 

 

Regards J.T

[ims21]

Hi

 

I'd make it a bit more formal....take a look at the templates here which will give you an idea as to the wording. Not suggesting you just copy but you'll see what I mean about the feel of the letter and how to express it.

 

http://www.thisismoney.co.uk/money/bills/article-1606652/LETTER-TEMPLATE-Mis-sold-PPI.html

 

ims

[Glassart]

Hi again,

 

Thanks ims,

 

 

 

Also wha'ts the idea behind not including the pink 8% at the moment?.

 

 

 

Regards J.T

[gezwee]

Short and sweet is usually the best course, never include more info than you want to evidence at a later date if you need to sue.

 

Do you have a copy of their terms for PPI to hand you could post on here to clarify that employment status would def preclude any claim?

 

I'm certain it would but best to cross the t's and dot the i's now rather than later

 

Gez

[ims21]

Hi

 

They will add the 8% as standard practice under the FSA/Fos rules. I included it in that version of the spreadsheet just as a reference more than anything else.

 

ims

Edited August 25, 2011 by ims21

[Glassart]

Hi Gez & ims,

 

Thank you both.

 

The 2 copys of their terms for PPI 2pages each - page update 1 and page update 2 was an update 25th sep 2005.

 

Regards J.T

cover conditions page 1.pdf

cover conditions page 2.pdf

cover conditions think updated page 1.pdf

cover conditions think updated page 2.pdf

[Glassart]

Hi again,

 

Regarding the cover letter is this ok:

 

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.

 

When I took out the payment protection insurance policy, I was not employed - so it would have been impossible for me to make a valid insurance claim.

I am requesting a full refund of all my insurance payments, plus interest.

 

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

 

Yours faithfully,

J.T

[gezwee]

Hi JT

 

Terms provide for specific exclusion [part time, less than 16 hours per week]. Before the Fos took up the reigns I did see a couple of quotes from monkey brained creditors that unemployed was not a specific term [merely implied]...... I don't think they bother trying it on any more but its just one to look out for when you get your first stalling response

 

For the cover letter, I'd go back to the one Ims linked to further back up.... its handy to include the 8% paragraph at the end and covers all bases.

 

In addition.......... run a total [including interest to date] of all PPI premiums and calculate on your spreadsheet the daily interest charge going forward. You can add this to your covering letter to remind them that whilst they delay in restituting your money the amount of refund is increasing by £**.** daily.

 

Gez

[Glassart]

Hi Gez,

 

Thank you, is this one better now:

 

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

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

I was not employed at the time I took the insurance – so it would have been impossible for me to make a valid insurance claim - and was not asked about this.

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 - Total £12093.88, 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.

=============

 

Yours faithfully,.

 

 

Regards J.T

 

Or should I put it this way?

(I did not have a job when I was sold the cover so it was clearly of no use to me and it would have been impossible for me to make a valid insurance claim.)

[ims21]

Hi

 

Either will do

 

Regards

 

ims

[Glassart]

Hi ims,

 

Thank you, I just need to check a few dates out regarding the bold text below it should take about a day to check my paper work, but one things for sure I did not work at any point in time before or after I had this PPI. So I must have been miss-sold this PPI. unless they have a get out in there Cover Terms.

 

"2002 I had just moved into the house that I had bought I was not working but was looking for a job but I had a health problem I was living of a few grand I left over from buying my house but my money was running out so I had to signed on, my health problem then later made it impossible for me to work and I went on Incapacity Benefit. "

 

Regards, J.T

 

Hi again all,

 

 

 

Please can you all have a last look over this for me and see if you all still think I was miss-sold PPI.

 

So that I can get the claim going now.

 

 

 

18/JAN/2003 Account Cover Plus Insurance started.

 

 

APR 2002

I moved into a new house and I was living on the money left over from the sale of my old house after buying a new house.

 

 

JAN/2003

Got Great Universal catalogue - now K and Co.

18/JAN/2003 PPI no fee. (Account Cover Plus Insurance)

18/FEB/2003 PPI first payment to PPI. (Account Cover Plus Insurance).

 

 

 

MARCH/ 2003

Signed on Jobseeker's Allowance, first paid by them mid APR 2003 by bank giro.

 

 

MAY/2003

Jobseeker's Allowance claim ceased as Incapacity benefit took over as income support and this claim is continuous.

 

 

26/08/2011 Cancled Account Cover Plus Insurance.

 

 

Thank you all.

 

 

 

Regards J.T

[ims21]

Try not to over-complicate this.

 

You were not working when the ppi was taken and so it would have been useless to you and you could not have received a payout.

 

That is in itself enough.

 

ims

[gezwee]

Ditto

 

Get everything in the post to them recorded delivery and remember to print off proof of delivery

 

9k owing and a 1k overdraft....... me thinks not for too much longer

 

Best of luck

 

Gez

[Glassart]

Thank you Gez, dx, ims for the advice,

 

 

 

I will get it all of to them ASAP and keep you up to date.

 

 

 

1.Cover letter

2. PPI-consumer-questionnaire

3. Spreadsheet.

 

 

Also

 

 

The Financial statement, with my Offer.

 

 

Regards J.T

[ims21]

Sorry?

 

Financial Statement and offer?

 

What's this (or have I missed something?)

 

ims

[Glassart]

Hi ims,

 

Do I not need to send that Financial Statement and payment offer to my K and Co Arrears Collection Department as advised earlier on Page 1 of this thread to keep them of my back?

 

Regards J.T

[ims21]

Oh sorry, I thought you meant you were going to send it with your ppi claim.

 

ims

[maroondevo52]

Thread moved to PPI Forum.

[dx100uk]

i would send nowt to any dca

 

dx