Morgan Stanley ppi

[bee]

Hi

Wonder if any one could advise , have written to Morgan Stanley to claim back ppi on credit card , as was self employed , have received reply from barclaycard requesting requesting that i complete the questionnaire from Financial Ombudsman Service. Do i complete this?

In my letter to Morgan Stanley gave information for Credit Card details and as self employed mis sold. I presume Morgan Stanley have forwarded my letter to them. Their letter also says will investigate my complaint but this information is requested to assist in their investigation.

Any thoughts?

[ims21]

Hi

 

Yes complete a questionnaire but download the one from the fos website rather than use the lender's own.

 

ims

[bee]

Hi

Thanks for the very quick response, have done.Is there a reason for using the fos one?

[ims21]

Yes

 

without reading the bank's one fully, you never know whether it deviates from the official one from the fos.

 

Remember...never trust a bank!

 

Easiest just to fill in the official one from the word go.

 

ims

[bee]

Thanks again will keep you posted when i get a reply

 

where do i find your star to click ?

[ims21]

Hi

 

Bottom of any of my posts in the grey bar next to the left of the black triangle

 

ims

[bee]

Hi

Just to update, received letter back saying they are continuing to investigate and will be in touch within 28days. Will keep waiting and see .

bee

[bee]

Hi

Received final response from Barclaycard to say identified my application was by post ( i do not recall completing)' and ... accurately described the scope of the policy, and was sufficient to provide you with all of the information necessary to inform you of the terms and conditions of the policy.'

 

As a result we are not able to uphold your complaint.

 

As self employed i would not have been able to claim and i do not recall reading or completing. Should i send a SAR first and refer to the FOS at the same time or wait for the SAR?

bee

[ims21]

If it were me I'd get the SAR information, prepare a schedule claim (spreadsheet) and challenge the decision.

 

If they still refuse then pass it to fos

 

ims

[bee]

Thanks, will do the SAR , was reading on another thread, said to mention info relating to Morgan Stanley . Do you ammend to ask for copies of application specific to Morgan Stanley? i think it was processed by phone , though a long time ago but do not recall completing an application form.

 

Also though they say final decision and to refer to FOS you can challenge them and they will respond?

 

Bee

[ims21]

Hi

 

If you only want info on this MS card then you can specify that the SAR only needs to relate to this account

 

Also though they say final decision and to refer to fos you can challenge them and they will respond?

 

I'd give it a go...once fos get their mitts on it you will probably be in for a long wait so you might as well attack them again yourself.

 

ims

[bee]

Hi

Yes it's only for MS card , will give it a go as nothing to lose.

thanks for help and quick replies. will keep you posted

bee

[freelance]

Hey Bee,

 

I'm helping a friend with a Morgan Stanley CC PPI complaint - they're self employed as well. They were also turned down by Morgan Stanley. The letter received from them was clearly a template so we've gone back and asked them to re-investigate the complaint as despite giving their final response they haven't actually shown they've actually investigated the complaint at all. If we don't hear back from them in the next week or so we'll be taking it to the FOS. Was hoping to avoid this because of the queue but so be it. I'll let you know what happens.

 

Fingers crossed

[bee]

Thanks Freelance good to know others in the same boat.

 

Wills do the SAR as IMS suggests and see the info they have , i have my statements and interestingly have ammended terms and condirions in the file but not an application. I also cancelled this policy in 2007 as i would have been unable to claim as self employed but didn't know i could claim back untill recently. .

 

Bee

[bee]

Hi

just got a reply back from the SAR saying they were unable to locate an account based on the information provided.

I sent the details, name, account number, previous address . They have returned my request letter and the postal order. Strange as they stated they had identified my application was by post as mentioned before and did not uphold my complaint.

Do you have any advise as to what i do now?

[ims21]

If it were me I'd write back with the original SAR request and tell them that they are in breach of the DPA by not providing your data.

 

Ask them how they could come to a decision on a PPI complaint and refer to the agreement if they claim they have no details of an account.

 

Require them to provide an answer in writing so that you can pass their reasoning to fos.

[bee]

Thanks ,

Will get that done presume i send them back the postal order as well , should i include a copy of their letter not upholding my complaint or just refer to it?

bee

[ims21]

Yes you can include a copy of it.....that won't hurt

[bee]

Thanks for your help will let you know when they reply

[bee]

Hi

looking for some more advise , have received a reply , standard letter thanking for my request under data protection act , stating unable to process with box ticked for account closed for more than six years and details no longer retained.

They have sent back all my letters and copy of original request and postal order.

The account with Morgan stanley was taken over by Goldfish and then barclarcard so i think it is still running though i camncelled the ppi in 2007 as they were charging about £97.00 a month .PPI was therfore not paid when goldfish and later barclaycard but how do i go about asking them to locate this information , bearing in mind they originally said i had ticked the box for PPI when they didn't uphold my complaint?

bee

[bee]

Hi

Have send off to the FOS and waiting , however have received letter from barclaycard stating they have reviewed the complaint and now upheld and made an offer .

They do not say how they have calculated and i am concerned that this may be incorrect as they have twice sent my SAR back ,so have sent off again.

I have written and asked them to provide information for the offer they have just sent back letter saying that info is based on the statements . Surprising as they couldn't find this for the SAR!!

Phoned and they said they didn't have the statements . Have re sent the SAR again but they say it will be returned again.

 

wondered if you have any advise on where to go from here?

 

thanks

bee

[ims21]

Yes...demand that supply you with the detailed breakdown of the offer.

 

If it turns out that they have prepared this offer from statements then the ICO would be interested to hear that they have apparently deliberately withheld information from you as regards the SAR.

[bee]

hi

Thanks will write back and ask for the detailed breakdown, i think i've read in the FOS that they should provide this and provide the balance so will try to find again.

If they can not provide statements does that raise another issue

Another question sorry they have given total of payments (which i doubt as even with an average is less than i believe paid)

Refund of payments - £1234.32

Interest charges on PPI premiums £378.63

8% Simple interest per annum - £1129.06

Total £2742.01

I have found the foscis sheet which i have completed and this comes out with an amazingly higher figure of over £15,000.00 and i'm not sure as this is a huge difference!!!

The interest on the ppi premiums appears to me to be very low given the credit card was charging 1.67% per month with an average balance at the time of approx £4000.00

Would appreciate your thoughts.

bee

[ims21]

The fosCI sheet isn't the ideal one to use for a credit card.

 

The ideal one is fosRunning spreadsheet but you need the statements to be able to complete it.

 

What comes back on a credit card account depends on how the account was run.

[bee]

Hi

Thanks will use the other and work out again. I have statements for over 2 years worth 03/04, but some missing for 01/02. So from reading would use an average. i would then use the running sheet for the statements i have , which would be best for using average payments as wouldn't have balance etc ?