@askbankofscot excessive insurance charge for ppi

[marky.b]

just finished (early) a loan with bank of scotland

ive had a couple of loans . 1st 2003 then in 2004 i borrowed a bit more on that loan.then again in 2004, and the last time in 2006

so in 2006 this is what i had

loan amount £20.000 interest £7.830

insurance £10.000 interest on the insurance £4.742

so in total £42.573

paid £506.83 over 84 months

the insurance is half the loan.

worked out at

£175 a month or £44 a month or £2200 a year

is this a bit high for insurance?

ive rung bank of Scotland and told them i want to file a claim for misold ppi

told them i work full time and get sick pay

also the £2200 a year i paid for insurance would of paid at least 7 months payments had i been off sick

had i got the insurance elsewhere. what would i have had to pay

i dont recall being told i had an option to get from another source

[ims21]

So did each of these loans have PPI on them? If so you will have rolled PPI from one loan into the next.

 

Have you got the agreements and record of payments on these loans?

[marky.b]

i got an agreement for the 2006 loan

the other 2 i do not

i was told that these records are older than 6 years so will have to apply to see if they are still available

im guessing the ppi may have started on the 2003 2004 loan, but cant be sure

[ims21]

If the 2006 agreement was for a £20k loan and the insurance shown on the agreement was £10k then that is absurd.

 

If it were me I would SAR the lender to get as much information as you can on these loans.

 

Something doesn't sound right to me.

[marky.b]

im going to try and upload a copy of 2006 agreement

[ims21]

Use this method to upload.....make sure you remove all personal identifiers first.

 

This is by 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 http://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 http://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.

though dont use full bank names or CAG in the title

i'e Default notice dd-mm-yyyy TSB

.

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

[marky.b]

[ATTACH=CONFIG]42529[/ATTACH]

[marky.b]

not right ill try again

[marky.b]

[ATTACH=CONFIG]42530[/ATTACH]

[ims21]

See my post above....need to convert it to PDF

[marky.b]

missed the bit about pdf

[marky.b]

hope this one opens ok

[ims21]

Good grief....you were taken for a ride on that one.

 

Have a read of No.1 in my signature.....it will help you work out what you are due back. There are spreadsheets at the end to do the maths for you.

[marky.b]

rang bos and told them i wanted to put a complaint in

so got to wait till they get back to me

maybe they will send me forms out

[ims21]

You can short circuit them by completing a fos questionnaire yourself and getting it formally lodged with the lender.

 

The forms are available here

 

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

[marky.b]

had a letter today from bos

they quote what i said in telephone call to them

saying i didnt need it and didnt know i had it, and the fact that i was fully employed and get full sick pay

says they are gathering info relevant to the complaint

and may need to contact me to get a complete recollection of what happened and to contact them if i have any further info

what should my next move be

[ims21]

If they telephone to discuss this, don't.

 

Tell them that everything must be in writing.

 

On the phone they will try to catch you out and get ammunition to deny your claim.

 

Have you done anything about the fos forms yet?

[marky.b]

If they telephone to discuss this, don't.

 

Tell them that everything must be in writing.

 

On the phone they will try to catch you out and get ammunition to deny your claim.

 

Have you done anything about the fos forms yet?

 

not done nothing yet

ive just received forms from nationwide for the ppi on my credit card,

they were the same forms i have seen everywere so i guess the ones i need to send to the bos will be the same ones.

 

oh and on the subject of the nationwide claim. the form asks for the insurance policy number. i dont have that

should i just put the credit card account number (ie the card number)

Edited March 21, 2013 by marky.b

[ims21]

If you don't know the policy number just put "Unknown - never provided"

[marky.b]

right going to do the bos forms now. not had a lot of time to do the in the week due to work

i had a call off a foreign guy (twice) yesterday while i was at work, could have been bos

should i print and post the forms or fill the online ones instead

[marky.b]

[ATTACH=CONFIG]42663[/ATTACH]just filling out the forms

i put this for the description

what do you think

 

 

 

 

[ATTACH=CONFIG]42663[/ATTACH]

Edited March 23, 2013 by marky.b
mistake

[ims21]

That looks like it is for the loan(s).

 

If so, you haven't got all of the information for the earlier ones as far as I can see. Did you do the SAR that I mentioned?

 

If not I would get that done as a priority. That way you should have all of the information available to you as regards what happened with rollovers etc prior to putting in your claim.

[marky.b]

that much going on its getting confusing

i wasnt going to go back that far. just for the 2006 loan

are you saying i need to get details from the first 2 before i can continue

im going to upload a letter i got a few days ago from bos regarding the call i made to them last week when i first rang to file a complaint

[marky.b]

ok here is a letter i got a few days ago

this was done before i found this site

[ims21]

Well you can ignore the earlier loans if you wish...up to you.

 

Your reasons contained in the PDF you posted need to be more assertive in my view. You should be telling them what happened and not leaving them any wriggle room.