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Paul Banks

Wording / Reasons assistance with three PPI claims

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Hi all,

I've been reading this forum for a while now and finally decided to register.

 

I'm very impressed with the advice offered here and I'm hoping I can get a little too with some PPI Claims.

 

I'm an Engineer by trade and hopeless at writing letters,

 

I'm hoping somebody could proof read my words before I send them off. Would this be OK?

 

As the title says, I think I have grounds for three separate claims,

 

should I ask for advice using three new posts or should I lump it all in here first?

 

I'm really hoping somebody can assist, both with the wording and also to confirm that I have valid cases.

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Hi Paul and welcome. New joiner have to wet the coffee.

 

It's weekend so might be a bit slow, it's fine to post for proof reading, make sure there is no personal identity posted. We all join in but The Brigadier will do proof reading but he's probably in the pub now.

Edited by Conniff

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as such

there is no need to write any letters

 

hope this is not your real name?

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Thanks guys,

 

As I say, I have potentially three claims. In no particular order, one for a Capital One credit card PPI policy, one for a personal loan with PPI and one for my mortgage which has PPI. I've completed the generic questionnaire for each of the claims filling in all the details but the following are my covering letters which will accompany the claims. I'll repeat the relevant wording in the actual questionnaire.

 

The Capital One credit card applied PPI to my account shortly after I received a phone call trying to sell it to me. I refused but it was still applied. My letter for this is as follows:

 

Dear Sir or Madam,

I am contacting you regarding my Capital One Mastercard account. I would like you to investigate what I believe is a case of mis-sold Payment Protection Insurance.

I enclose a copy of the “payment protection insurance: consumer questionnaire”, onto which I have completed as much detail as I can.

I’ve been checking back over my old credit card statements and have noticed an entry every month for PPI. Thinking back over this period I can remember being called by a Capital One representative and being offered some kind of payment protection scheme. I declined this offer, many times, telling the sales representative that I wasn’t interested. It was shortly after this date that the PPI item started appearing on my monthly statement. A more complete account of the reason for this letter is contained on the enclosed questionnaire.

I would like you to consider the account here and on the questionnaire and advise me if you intend to reimburse me for the insurance payments wrongly added to my Mastercard balance.

Yours sincerely,

My next possible claim is for a loan with PPI taken out with the Bank of Scotland. My draft letter for this one is as follows:

 

Dear Sir or Madam,

I am contacting you regarding my Bank of Scotland Personal Loan. I would like you to investigate what I believe is a case of mis-sold Payment Protection Insurance.

I enclose a copy of the “payment protection insurance: consumer questionnaire”, onto which I have completed as much detail as I can.

When taking out the loan online I was offered two sets of repayment options, one without PPI and one with PPI. I’d not really considered needing PPI since I’m a professionally qualified Engineer and since graduating I’ve been in constant employment (19 years). I have always kept myself fit and in very good health. However, for me this was a huge amount to borrow and a major decision in itself to take the loan. Seeing two repayment options, with not a great deal in terms of cost between them, and seeing words like “protected” and terms like “peace of mind” convinced me that it would be irresponsible to proceed without the PPI option.

So, I’ve been guided down the PPI route. My complaint focuses on the fact that it was never pointed out to me that, although I had “chosen” to have payment protection insurance on the loan, I was never advised that there wasn’t a requirement to take the policy out with the Bank of Scotland. Only now, having researched the subject, have I discovered that it is possible to take out payment protection or income protection with another company. If I had only been shown the monthly repayments for the loan without PPI I would have gone with that option.

I would like you to consider the account here and on the questionnaire and advise me if you intend to reimburse me for the insurance payments.

Yours sincerely,

My third claim would be for my mortgage PPI. Wording as follows:

 

Dear Sir or Madam,

I am contacting you regarding my Direct Line Flexible Mortgage. I would like you to investigate what I believe is a case of mis-sold Mortgage Payment Protection Insurance.

I enclose a copy of the “payment protection insurance: consumer questionnaire”, onto which I have completed as much detail as I can.

When taking out the mortgage I was informed that I had to have payment protection insurance in order to proceed. At the time I found this odd, it’s not something I’d really considered needing since I’m a professionally qualified Engineer and since graduating I’ve been in constant employment (19 years). I have always kept myself fit and in very good health. However, since the insurance was part of the mortgage offer I believed I had no option but to proceed. My complaint focuses on the fact that it was never pointed out to me, that although it was a requirement for me to have payment protection to qualify for the mortgage, I was never advised that there wasn’t a requirement to take the policy out with Direct Line. Only now, having researched the subject, have I discovered that it is possible to take out payment protection or income protection with another company and still satisfy the mortgage criteria.

I would like you to consider the account here and on the questionnaire and advise me if you intend to reimburse me for the insurance payments.

Yours sincerely,

I think the credit card is nailed on since I said I didn't want it but I still got it. But for the other two I'm not sure if it's all a bit flakey. Basically I've been hoodwinked into thinking I need PPI for the loan, and I realise I need some form of PPI for my mortgage. My claims hinge on the fact that I didn't realise ( or it wasn't pointed out to me) I could buy payment protection from other places.

 

 

I'm not really called Paul Banks, it just seemed kind of relevant and he's also the lead singer of a fantastic group!

 

 

I'm really hoping you guys can help.

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good job so far

 

i take it you are usig the fos cq?

 

are you going to do a spreadsheet for each?

 

would be useful

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Thanks DX,

The questionnaire is the one which is referred to by each of the companies I'm chasing.

 

10 pages plus a sheet for additional comments.

 

Red top border with text in a black border.

 

I can't post links just yet, but online it's referred to as "PPI-consumer-questionnaire.doc"

 

I've seen the spreadsheets and could fill them in but not 100% accurately for all three cases.

 

The credit card PPI payments changed every month depending on my balance and the mortgage PPI changed depending on the interest rate.

 

I could fill them out based on average figures but would this be useful or just confusing?

 

I could apply for the £10 detailed information from each of the companies but would my case hinge on me supplying totally accurate information?

 

They will know exactly how much they've had from me since it's all they do,

I've had so much more going on in my life I can't be certain of exact values.

 

PS. Is there a "Donate" button if I'm successful?

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

 

is the FOS CQ

 

as for the spreadsheets [soc]

 

IMHO i WOULD use one.

 

avg on int is ok.

 

our sheets [soc's] are here:

 

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

 

last one for CC's

 

and for any that charge int monthly [give a monthly int figure] too

 

the loans will be the first one

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Excellent advice DX. That's my Sunday taken care of. I'll keep you up to date with progress.

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no bother

 

any help you want just ask

 

btw:

 

i would not repeat anything in your covering letter that is in the FOS CQ..

 

an example of a covering letter is:

 

 

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

 

 

not saying yours is wrong

 

just refrain from repeating yourself

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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i would also not go for a 'scatter gun' approach.

 

keep focused on one specific mis-sale issue in the first instance

 

though your FOS cq will obv outline other issues bar the main focal point

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Thanks DX.

Been tied up with possible career change all last week!

 

Finally got around to rewording my first letter to the CC company.

 

I've also completed a spreadsheet for some of the time PPI was applied to my account.

 

The value only adds up to £150 so I thought I'd attempt this one first before I go for the big value claims.

 

I'd appreciate wording advice from anyone out there, it would be gratefully received. Reworded letter is as follows:

 

Dear Sir or Madam,

I am writing in relation to my Capital One Mastercard account. I would like you to investigate what I believe is a case of mis-sold Payment Protection Insurance.

 

I’ve been checking back over my old credit card statements and have noticed an entry every month for PPI.

 

I don’t believe I have been treated fairly in relation to how this PPI was sold to me.

 

The Payment Protection Insurance Industry together with the Financial Institutions which sold these types of policy

has been punished by the Financial Services Authority for failing to treat customers fairly.

 

I do not believe that the PPI added to my Mastercard account was sold in my best interests.

 

Unless you can prove that the PPI policy was offered in a fair and reasonable manner and that the policy itself was suitable for me when I was sold the insurance,

 

then I demand a full refund of all premiums together with the subsequent interest on these payments.

 

I also expect 8% interest to be added to any credit balance which would have occurred if the PPI had not been applied to the account as this is the statutory amount a court would pay.

 

I enclose a copy of the “payment protection insurance: consumer questionnaire”, onto which I have completed as much detail as I can.

 

I also include a copy of a spreadsheet detailing the PPI payments taken between 21/12/2007 and 21/07/2010.

 

This is not an exhaustive list of PPI payments; some may have been paid both before and after this period.

 

It also details compound interest on the PPI balance together with 8% interest on any credit balance.

 

I look forward to your full and prompt response to this letter.

 

If the matter is not settled within 8 weeks of this letter I shall be contacting the Financial Ombudsman to investigate my complaint further.

 

Yours faithfully,

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Me again.

I've been thinking about this a little more.

 

The banks, credit card and mortgage companies employ specially trained sales personnel.

 

In the past they were used to aggressively sell their products, it was their job.

 

Some of them were very good at this and I for one succumbed to their sales pitch.

 

Everyday we buy stuff we don't need because we are sucked into it by adverts and sales patter.

 

Would this on it's own be a valid reason for demanding a refund?

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IMHO i would only use post 9 text.

 

as for a reason to reclaim

 

if you were in fulltime employment

and your firm had good sickness cover

 

ie 6mts full 6mts half etc

 

then that is the only reason

 

for now

 

you need to put down anywhere.

 

you were pressured by telesales staff into taking it

 

you did not realise you had it.

 

you did not need it.

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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