Ford Credit Europe Bank PPI

[bigphil61]

Hi All,

 

I found a letter from FCE Bank showing the agreement number. registration number, overall monthly payment and the date of agreement of 22/07/97. The letter states that my PPI paperwork was included, unfortunatly I was unable to find the policy, just this letter.

 

I then sent a SAR to FCE and they have returned my cheque with a letter stating:

 

Under Data Protection laws we retain account information for six years from the closure date of the account and therefore no longer have the information that you have requested.

 

I have managed to work out that PPI for this car loan was approximately £88.70 per month over 5 years.

 

I do not have a legiable copy of the agreement, hence the SAR, just the letter.

 

Is it worth while sending them a PPI claim based on what I have or do I need more evidence to support my claim?

 

BP

[ims21]

If you have some evidence of the PPI within the figures you have found then put in a claim.

 

What figures have you been able to work from?

[Conniff]

They will have records going back to the day they started, DPA doesn't say you have to destroy everything, only personal details no longer required. So they might not know who your granny is, but they will still know that a Mr BigPhil61 had a loan with them.

[bigphil61]

FCEAgreementEscLett.pdf

 

Hi,

 

Thanks for your quick reponses!

I have attached the letter above, with all personal info removed.

 

To be honest Ims I'm not sure how I worked it out,

I think I based my PPI calculations on the interest rate charged on one of the two agreements,

I was able to just make out PPI ticked on the other agreement!

 

Long story to be honest, first car was petrol, realised after a month I needed a diesel due to my milage at the time so swapped car, hence two agreements!

 

BP

[bigphil61]

Hi All,

 

Just dug up the last agreement, now attached!

 

BP

FCE-ESCAgreement.pdf

[bigphil61]

Hi All,

 

I've just rechecked the agreement again and it looks much clearer in PDF format (I now know I should have done this in the first place, applogies to all). It appears (after zooming in) that the agreement was for 18 months, I still can't make out the overall loan amount but in the PPI section of the agreement am I right in concluding that the PPI added to the loan was £173.69 per month?

 

BP

[ims21]

£173.69 is the total payment each month.

 

The loan part is £149.74 and the ppi part is £23.95

[Conniff]

Are you certain this ppi was mis sold, the declaration is quite clear and there is a spot for you to sign, did you sign it? so why do you think it mis sold ?

[bigphil61]

Hi Ims,

 

18 x 173.69 = £3126.42 but this figure does not appear anywhere on the agreement. I can just make out from the agreement that the overall figure A + B is £8242.xx? The monthly payment figure appears to be £426.24 just below the overall figure and this lines up with the attached letter that states the overall monthly payments will be £426.24?

 

Further down the agreement it states ' one third of the total amount payable under this agreement, that is £2747.51' which x 3 = £8242.53.

 

 

So I'm really confused as to what the actual payment for PPI would have been, like you I thought the PPI would have been £23.95 but the figures just don't add up!

 

BP

[ims21]

Trouble is that even zooming in I can't make out most of the figures

[bigphil61]

Hi Conniff,

 

As stated above its a long story, on the first day of a new job my car (which I had bought specifically to get me to this new job, from my next door neighbour) engine blew up, I managed to get my money back from him, eventually! I called into the job, expalined my situation and told them I would be in the following day.

 

Being stuck for getting to work, as one does I went to the local showroom and asked if they could help me!

 

We are talking of a round trip of just over 120 miles per day, with no direct bus or train, so I felt a good car was needed!

 

Whilst in the showroom after explaining my situation, I was given full details of the new car and how it worked, I was even taken for a long test drive around the city!

 

After being in the showroom/car for over 4 hours I was ready to sign anything as all I wanted was a chance to start my new job the following day!

 

I was not given the option to purchase PPI from elsewhere! It was never explained to me that I would pay interest on it. I had several ways of making payments including savings, family and friends. Also my new job would have given me six months full and six months half pay, if sick from day 1, I had life cover and would get redundancy! Hence I did not need it or want it and I feel that at the time they took advantage of my situation to insist that without PPI I would not get the car loan!

 

BP

[bigphil61]

Hi Ims,

 

I'm having the same problem, but the figures for one third of the total amount payable are fairly clear. If I send in the claim of PPI = £173.69 x 18 months would they not just correct my calculations if they are wrong?

 

BP

[ims21]

I'd put in a claim for sure.

 

See what they come back with.

 

It's just nice to be aware of what any offer might amount to but it's not essential. Maybe if they make an offer, their calculations may make things a bit clearer.

Edited June 24, 2012 by ims21
spelling

[bigphil61]

Thanks Ims,

 

I will update once I get a response!

 

BP

[Conniff]

Hi Conniff,

 

As stated above its a long story, on the first day of a new job my car (which I had bought specifically to get me to this new job, from my next door neighbour) engine blew up, I managed to get my money back from him, eventually! I called into the job, expalined my situation and told them I would be in the following day.

 

Being stuck for getting to work, as one does I went to the local showroom and asked if they could help me!

 

We are talking of a round trip of just over 120 miles per day, with no direct bus or train, so I felt a good car was needed!

 

Whilst in the showroom after explaining my situation, I was given full details of the new car and how it worked, I was even taken for a long test drive around the city!

 

After being in the showroom/car for over 4 hours I was ready to sign anything as all I wanted was a chance to start my new job the following day!

 

I was not given the option to purchase PPI from elsewhere! It was never explained to me that I would pay interest on it.I had several ways of making payments including savings, family and friends. Also my new job would have given me six months full and six months half pay, if sick from day 1, I had life cover and would get redundancy! Hence I did not need it or want it and I feel that at the time they took advantage of my situation to insist that without PPI I would not get the car loan!

 

BP

 

That's what I was hopeing you would come back with. Good luck, you're in good hands.

 

P.S. I can't read it either.

 

As for the SAR, you can always tag on the end of your letter to them - 'for a tenner, I will sent you a copy'

[bigphil61]

Hi Conniff, Comment added...lol

[bigphil61]

Hi All, I have had a response from FCE, they state that all data was deleted 6 years after the account was closed in line with the DPA and therefore they are unable to confirm or otherwise my alleged mis-sold PPI claim, they then state that I can take the matter up with FOS and I have six months from the date of the letter! What information will FOS require in order for me to continue with my claim, do I just fill in the FOS claim form and send it in? BP

[bigphil61]

Hi All, I'm still stuck on the above, the agreement is from 1998 will FOS look at my complaint? BP

[bigphil61]

Anyone?

[ims21]

Just send fos all of the docs and correspondence you have had with the lender, including the fos questionnaire which you should have sent to the lender already.

[bigphil61]

Hi Ims21, Thank you for your response and I will pass to FOS.BP

[bigphil61]

Hi Ims,

 

Just to let you know I managed to get a readable copy of the agreement (very long story) where now all the details can be clearly seen! I now feel much more confident in passing my complaint over to FOS. Many thanks for your advice throughout and be assured that I will be making a donation to CAG as soon as I have the monies in the bank!

 

BP