yorkshire bank taking p p i...

[boobop]

Hi,

I am currently in the process of reclaiming bank charges when i discoverd its quite possible i have been mis sold PPI on my loan.

So hopfully by explaining my situation on this thread someone could just advise weather this is the case.

 

I taken out my 1st loan with YB back in 2000 originally for £5000 and was told as id only been employed for 1yr and was only 23 i had to have PPI otherwise it could be rejected BIG empasis on the word rejected so as you do you say ok ill have it how much i asked "oh its only £27 per month but your coverd for everything you can imagine should you need it" also if i paid the loan off early id get a % back of what i didnt use.

So in january 2004 i asked the same bank for an extra £3000 on top of this loan i was told "you'll have to take out a fresh loan to pay off this current loan and add the £3000 you want to it" i thought ok ill pay the 1st loan off early so should save some money somewhere down the line and get some PPI back as it was to be paid off 18months early.

I have my loan agreement for that loan here and it says;

PURPOSE 1 ( TOP UP AMOUNT)

£3000 + £765 interest = £3765

PURPOSE 2 (PAYING OFF OLD LOAN)

£3770.74 + £961.54 = £4732.28

SUB TOTAL

£6770.74 + £1726.54 = £8497.28

PURPOSE 3 (P P I )

£1293.76 + £329.91 interest = £1623.67

GRAND TOTAL FOR LOAN;

£8064.50 + £2056.45 interest = £10120.95.

 

I did NOT get ANYTHING back for early repayment! and had to take out ANOTHER PPI aggrement as the old one finished with my last loan payment as ive paid it now its also ended? (confused)

 

But thats not it heres the final insult

I was made redundant a year after the loan so i went to the bank and explained the situation i had proof from my employer etc.. they then gave me a leaflet which i have the original ( certificate of insurance) and told to call them. In the mean time i had to break down the missed payment into 3 added on to the next DD due on the loan, when i called the insurence i was told to sign on the dole and send them proof i was claiming, i said that i was also looking for work they said well theres no point making a claim you'll probly get a job soon allthough i said i would still pursue the claim, i ended up getting a job the fortnight after so could never sign on thus cant claim, then they told me as i had tried to claim i couldnt claim again for 1yr after?? (why) unfortunatly i was ran over by a bus (ouch) once again the bank said sorry you cant claim i was off work for 3months and still had to pay the full loan ammount ( leaving me broke) then when i was able to walk again i went to the bank and said i wanted to cancel the PPI as it was £30 a month for NOTHING no good to me. I was told to take off the PPI i had to get another loan but this time with no PPI ( how can this be possible if i had to have it to get a loan in the first place) so i said is that the only way to take it off YES IT IS!!! so i applied for this add on £1000 new loan with no PPI and got refused so hence i cant get it taken off.

Are the bank taking the PPI or what?

Also the defaulted me for the missed payment giving me a pathetic credit history which having argueed out with them they will not remove.

 

PLEEEEEESE any help or advise on this would be GREATLY appreciated

 

 

Kind regards

 

boo:-o

[hellhasnofury]

Hi,

I am currently in the process of reclaiming bank charges when i discoverd its quite possible i have been mis sold PPI on my loan.

So hopfully by explaining my situation on this thread someone could just advise weather this is the case.

 

I taken out my 1st loan with YB back in 2000 originally for £5000 and was told as id only been employed for 1yr and was only 23 i had to have PPI otherwise it could be rejected BIG empasis on the word rejected so as you do you say ok ill have it how much i asked "oh its only £27 per month but your coverd for everything you can imagine should you need it" also if i paid the loan off early id get a % back of what i didnt use.

So in january 2004 i asked the same bank for an extra £3000 on top of this loan i was told "you'll have to take out a fresh loan to pay off this current loan and add the £3000 you want to it" i thought ok ill pay the 1st loan off early so should save some money somewhere down the line and get some PPI back as it was to be paid off 18months early.

I have my loan agreement for that loan here and it says;

PURPOSE 1 ( TOP UP AMOUNT)

£3000 + £765 interest = £3765

PURPOSE 2 (PAYING OFF OLD LOAN)

£3770.74 + £961.54 = £4732.28

SUB TOTAL

£6770.74 + £1726.54 = £8497.28

PURPOSE 3 (P P I )

£1293.76 + £329.91 interest = £1623.67

GRAND TOTAL FOR LOAN;

£8064.50 + £2056.45 interest = £10120.95.

 

I did NOT get ANYTHING back for early repayment! and had to take out ANOTHER PPI aggrement as the old one finished with my last loan payment as ive paid it now its also ended? (confused)

 

But thats not it heres the final insult

I was made redundant a year after the loan so i went to the bank and explained the situation i had proof from my employer etc.. they then gave me a leaflet which i have the original ( certificate of insurance) and told to call them. In the mean time i had to break down the missed payment into 3 added on to the next DD due on the loan, when i called the insurence i was told to sign on the dole and send them proof i was claiming, i said that i was also looking for work they said well theres no point making a claim you'll probly get a job soon allthough i said i would still pursue the claim, i ended up getting a job the fortnight after so could never sign on thus cant claim, then they told me as i had tried to claim i couldnt claim again for 1yr after?? (why) unfortunatly i was ran over by a bus (ouch) once again the bank said sorry you cant claim i was off work for 3months and still had to pay the full loan ammount ( leaving me broke) then when i was able to walk again i went to the bank and said i wanted to cancel the PPI as it was £30 a month for NOTHING no good to me. I was told to take off the PPI i had to get another loan but this time with no PPI ( how can this be possible if i had to have it to get a loan in the first place) so i said is that the only way to take it off YES IT IS!!! so i applied for this add on £1000 new loan with no PPI and got refused so hence i cant get it taken off.

Are the bank taking the PPI or what?

Also the defaulted me for the missed payment giving me a pathetic credit history which having argueed out with them they will not remove.

 

PLEEEEEESE any help or advise on this would be GREATLY appreciated

 

 

Kind regards

 

boo:-o

 

Hiya Boobop,

 

OMG was a terrible ordeal and yes the ppi was useless. How disgusting:mad: as they.

 

Well I would say that it is a good case for mis-selling, but they will fight it all the way.

 

Start by reading the different threads to see what you are up against, it can be a long hard and frustrating time, but well worth it when you get your money back. I do find that the banks are quicker to give the so called goodwill gesture to you.

 

I would start by sending the Subject Access Request for the full amount of information, including all infor re loans and ppi. You have to be specifc of they will tell you nothing.

 

Good luck and if you need help with letters etc, just ask.

[boobop]

Hey sandbro

Thanks for the response, ive read a few threads so far starting to get a feel for it, just so im clear what exactly should i ask for in the SAR all loan and ppi details or everything they have to do with me and my account?

And do i just change around the SAR template i used for the bank charge?

 

Oh one more thing

Im still paying the ppi do i go to the bank and tell them what ive dicscoverd that i can cancel it or let it run untill my official complaint?

 

Thank you:D

kaye

[hellhasnofury]

Hey sandbro

Thanks for the response, ive read a few threads so far starting to get a feel for it, just so im clear what exactly should i ask for in the S.A.R - (Subject Access Request) all loan and ppi details or everything they have to do with me and my account?

And do i just change around the SAR template i used for the bank charge?

 

Oh one more thing

Im still paying the ppi do i go to the bank and tell them what ive dicscoverd that i can cancel it or let it run untill my official complaint?

 

Thank you:D

kaye

 

Hello boobop,

 

Maybe send this dpa request. It is mire geared to loans etc, but do not forget to specifically ask for the ppi information, I would ask for price of premium. interest applied, total cost and term that it ran for.

 

Your address

 

Their address

 

Date

 

DATA PROTECTION ACT 1998

SUBJECT ACCESS REQUEST

 

Dear Sir/Madam

NameXXXXXXXXXXXXXXXX

Account No/nosxxxxxxxxxxxxxxx

 

 

I understand that you currently hold details of my personal and financial information within your internal record systems with regard to personal loan accounts

Please supply me with a complete list of transaction and charges relating to my history with your organization, INCLUDING Loans and other products. Alternatively a complete set of statements for the accounts or associated accounts is acceptable. I would be grateful if you would provide the following for ALL accounts or associated accounts I have held with your organization:

-Full copies of all contracts, credit agreements which you believe exist or have existed between myself and your organization, including true copies of any documents you hold in support of the same.

- A complete list of all transactions or statements relating to ALL of my Loan Accounts with your organization.

-Copies of all documents which include any of my personal information including copies of any contacts or invoices, emails or computer records containing my personal information, or any records which pertain to this information.

-Full copies or transcripts of any correspondence in postal, email or any other format which you have entered into with any individual, organization or third party which contains my personal or financial, or which pertains to me.

- Where any previous information or records held have been deleted or disposed of, the methods used to do so, including dates, certificates or references confirming details of destruction. Where you are unable to provide such certificates, please provide a declaration, signed by an authorised officer of your company, confirming the dates and methods of destruction of this data.

-Full hard copy print outs of my personal or financial information, held in a digital, magnetic or any other format which is held in any archives, backups or other storage devices / locations.

I enclose a cheque in the sum of £10 to cover your fee.

IF YOU UNABLE TO DEAL WITH THIS REQUEST, YOU SHOULD IMMEDIALTELY FORWARD IT TO THE PERSON WITHIN YOUR ORGANISATION RESPONSIBLE FOR DATA PROCECTION.

I look forward to hearing from you in the first instance of receipt.

Yours faithfully

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

Did you receive the policy and the terms and conditions.

 

As for cancelling the policy, That is your choice. Personally I would, it means that you will be paying less monthly till you reclaim the rest.

 

please read this link for the fsa

 

Consumers to benefit from PPI refunds agreement

 

any help needed just post:D

 

 

 

 

 

 

[boobop]

hey,

Ive allready done a sar for my bank statements should i blank that bit out?

When i cancel the ppi is it just as easy as going into bank and not leaving untill its canceld as the past two times ive tried ive been told you need to do anouther loan? if they say this again ill get it in writing..

 

Thanks for the link

good reading:)

[boobop]

sorry forgot this

ive got credit agrement copy

personal credit application

which has a copy of the signed ppi

no t&c

Leaflet - ppi certificate of insurance from when i trie dto claim in 11/04

[hellhasnofury]

hey,

Ive allready done a S.A.R - (Subject Access Request) for my bank statements should i blank that bit out?

When i cancel the ppi is it just as easy as going into bank and not leaving untill its canceld as the past two times ive tried ive been told you need to do anouther loan? if they say this again ill get it in writing..

 

Thanks for the link

good reading:)

 

Hello Boobop,

 

When you sent the original SAR and you got your bank statements, was that for the last six years. I sent a sar and got back the 6years first. When I sent this one I got statements back to when the account was opened 1993. So I think if you are sending the sar, you might as well get everything they own. I did get a lot of information of my bank statements about ppi.

 

Personally I would do all correspondence by letter now, especially cancelling your ppi. You can be fobbed off in a conversation, unless you record it, but you would have to tell them that you were recording it.

 

In your letter, quote the statement by the FSA for their reference.

 

Good luck

[boobop]

HI

Just an update ive been into YB to cancel the ppi with a written letter expressing the fact that i wish to cancel. aswell as posting the same letter to the haed office.

when i handed the letter in at my local branch i was told again that i cannot cancel it when i asked for that statment inw ritting i was told no we cannot do that, but if id like to complain then heres the complaints address!!! I AM NOT A HAPPY BUNNY will i ever be able to cancel this policy that i cannot even use!!

 

Any suggestions???

 

Im gonna give the fos a call tomorrow alltough il probly get more help here but worth a try.

any advise on what try now would be much needed do i let them back me into a corner and make my mis sold complaint before ive had my sar back i do have the loan aggreement?

help

boo:-?

[hellhasnofury]

HI

Just an update ive been into YB to cancel the ppi with a written letter expressing the fact that i wish to cancel. aswell as posting the same letter to the haed office.

when i handed the letter in at my local branch i was told again that i cannot cancel it when i asked for that statment inw ritting i was told no we cannot do that, but if id like to complain then heres the complaints address!!! I AM NOT A HAPPY BUNNY will i ever be able to cancel this policy that i cannot even use!!

 

Any suggestions???

 

Im gonna give the fos a call tomorrow alltough il probly get more help here but worth a try.

any advise on what try now would be much needed do i let them back me into a corner and make my mis sold complaint before ive had my S.A.R - (Subject Access Request) back i do have the loan aggreement?

help

boo:-?

 

Hello Boobpop,

 

Dealing with branch directly as you have found might not be easy. You probably spoke to the monkey who did not know her a*** from her elbow. I do hope that you got her name and you can mention her in your complaint letter about the sheer lack of customer rights knowledge that they have. At this point complain only about being unable to cancel the ppi. And do not under any circumstances agree to taking out a new loan. They may insist this is the only way to cancel the ppi. Do not sign anything.

 

Do not allow your frustration to push you into doing something that you may regret later. This process can be very frustrating and lengthy, but undoubtly worth it in the end.

 

Right you have sent head office a letter to cancel you ppi, and they must do this. You have also handed one in a local level (monkey tree) How long did you give them to respond back to you. Maybe give them a week and chase it up You have to let them know that you are determined in this. Wait for your S.A.R - (Subject Access Request), to get your amo and then start the process of reclaiming.

 

I would ring the FOS for advice only at this present time. I would also ring the Financial Services Authority for their advise on the blatant lack of knowledge the local branch has regarding the statement produced by the FSA in customers rights in the cancellation of ppi. The above link I pasted.

 

Keep your chin up and don't allow them to make you angrey, just even:-D

 

Keep us posted

[boobop]

Hi Hell

Thanks for the advise brilliant asusuall il tryy and keep a more level headed aproch from now on going to write cancelation complaint now and will sit tight for the sar .

keep you posted

boobop

[boobop]

Quick update,

Well so far still NO cancelation of ppi after writing to the head office and being completly ignored i made an official complaint, which was at least acknowledged. and then it started i ve ended up in the loop!! every four weeks for the past 3 months ive been sent a letter saying we are still looking into your case please bear with us.. needless to say i am not happy i am now letting the omsbudsman have a go. hopfully they will have more luck as i seem to be the only person in the world who cannot cancel there ppi.

Is this the norm??

[hellhasnofury]

Hello,

 

I have heard of some peeps who have had terrible trouble cancelling the ppi, but got there in the end. Have you been chasing this up?? Have you reported them to the FSA and the OFT for starters.

[boobop]

HI

Ive spoken to the omsbudsman who ive sent copies of letters and a full account of events. but havent complained to anywhere eles, not really sure how to and didnt know if it would make any difference after going to FOS.

you see they havent put in writing that they wont cancel it there just investigating it and whilst there doing that they wont do anything eles.

Its pathetic

[boobop]

hello,

 

Well its been a while scince my last post needles to say i havent had much to say. Ive just been collecting my 4weekly letter of were still investagating. I have been on to the fos but there a bit slow at the moment too. Untill friday when i had a reply saying that they were prepaired to refund my ppi only upto the time i first asked for it to be canceld (aug 07 ) and they would re do my loan with out it. ( not bad to say ive only got 4 payments left!!) i could only accept this as a "full and final settlement". Now i can see that there trying to fob me off with the old final settlement thing becouse i had acctually asked to cancel the ppi and refund ALL my ppi payments as it was missold. Now im in a catch 22 i cant accept the canelation which i have asked for becouse this will prevent me reclaiming everything that they owe me in ppi they have also sent a sepperate letter saying that there investingation does not find the policy to have been mis-sold?

 

Im vary unsure of how to continue from here id hate to mess this up and play into there hands any advie would be grately recieved:D :D

 

boobop

[hellhasnofury]

hello,

 

Well its been a while scince my last post needles to say i havent had much to say. Ive just been collecting my 4weekly letter of were still investagating. I have been on to the fos but there a bit slow at the moment too. Untill friday when i had a reply saying that they were prepaired to refund my ppi only upto the time i first asked for it to be canceld (aug 07 ) and they would re do my loan with out it. ( not bad to say ive only got 4 payments left!!) i could only accept this as a "full and final settlement". Now i can see that there trying to fob me off with the old final settlement thing becouse i had acctually asked to cancel the ppi and refund ALL my ppi payments as it was missold. Now im in a catch 22 i cant accept the canelation which i have asked for becouse this will prevent me reclaiming everything that they owe me in ppi they have also sent a sepperate letter saying that there investingation does not find the policy to have been mis-sold?

 

Im vary unsure of how to continue from here id hate to mess this up and play into there hands any advie would be grately recieved:D :D

 

boobop

 

Hello Boobop,

 

I agree with you that they are trying to dangle the carrot and hope that you snatch their hands off.

 

Maybe write back and tell them that your are extremely disappointed with their timescales for your complaint and you do not accept their full and final offer in their response. Inform them that the fos are investigating your complaint.

 

Send all letters you receive from them to the fos.

 

You are nearly there now so don't give up:D