PPI Claim for July 2003 loan taken out with Argos Loans Help Required

[milocoon]

My wife took out a loan for £7000 with Argos Loans, it had PPI but she was a bit naive and didn.t really understand what she was entering into, I have written to Argos Loans and told them that as she was full time with the local council that she would have had full pay for 6 months and Life Insurance through the pension so did not need PPI. I have scanned the reply and the Loan agreement copy and have them as pdf attachments. Please advise as to what action we can take. Thanks In advance Dizzi ! I have a better scan but website says my 13Mb PDF is too large, on page 3 of the scan the OCR software failed this is the important bit of text

It says "Were lending you £7000 to pay off other loans. Your loan is subject to the terms set out below and on the back of this agreement. You have decided to take out Payment Protection Insurance for which the premium is £1,050.00 "

Milocoon

PS Uploaded a new pdf with an extra page to see all the agreement properly !

Thanks to All who help me !

[di30]

Re: PPI Claim for July 2003 loan taken out with Argos Loans Help Required

Hi
thank you for posting it up, I shall take a look at this now ;-)

[di30]

Re: PPI Claim for July 2003 loan taken out with Argos Loans Help Required

Right ok, is there a separate agreement your wife signed as well?
Because it looks like the amounts of both loan and insurance were already applied on that actual agreement and all they wanted your wife to do was sign at the bottom but not part on the form to question if this product was wanted or not, if you get my drift.

Now, I note they were not FSA regulated when this was taken out, so like myself and others, we have gone the alternative avenue which is the insurer/underwriter of the policy.
They will not at all take the full liability, but they still do have some joint liabilities and responsibility.

I was successful in writing a letter to the insurer/underwriter of the policy, (another business) to whom you are dealing with, but the wording for this letter must be carefully written.

I will be happy to forward you a copy if you wish me to. Please let me know.

It looks like going by the information you attached that this was underwritten by St Andrews. So I think it will be a matter of trying these direct first, as these would have been regulated by the FSA even if Argos finance was not then, and if this fails with the underwriter, you will be able to complain to the Financial ombudsman service (FOS).

[milocoon]

Re: PPI Claim for July 2003 loan taken out with Argos Loans Help Required

Hi Dizzi we would be most grateful for a copy of that letter, do we need to sar Argos Loans / Home Retail Group first or just write direct to St Andrews with our complaint ? We don,t have any other paperwork but you are probably right about the loan and the insurance being already applied. Many thanks for your help.

PS On a credit card note RBS have just offered us as a gesture of good will two fair offers on a Mint Credit Card and a Universa Credit Card taken out in 2003 after we complained in a very quick time including Overpayment Charges (these were higher than the PPI premium) with no questions asked.

Right ok, is there a separate agreement your wife signed as well?
Because it looks like the amounts of both loan and insurance were already applied on that actual agreement and all they wanted your wife to do was sign at the bottom but not part on the form to question if this product was wanted or not, if you get my drift.

Now, I note they were not FSA regulated when this was taken out, so like myself and others, we have gone the alternative avenue which is the insurer/underwriter of the policy.
They will not at all take the full liability, but they still do have some joint liabilities and responsibility.

I was successful in writing a letter to the insurer/underwriter of the policy, (another business) to whom you are dealing with, but the wording for this letter must be carefully written.

I will be happy to forward you a copy if you wish me to. Please let me know.

It looks like going by the information you attached that this was underwritten by St Andrews. So I think it will be a matter of trying these direct first, as these would have been regulated by the FSA even if Argos finance was not then, and if this fails with the underwriter, you will be able to complain to the Financial ombudsman service (FOS).

[di30]

Re: PPI Claim for July 2003 loan taken out with Argos Loans Help Required

I shall forward it on to you now, so sorry for the delay ;-)

Also well done on your success ;-)

You can SAR if you wish to, as it may help, let us know if you wish us to post up the template for you, if you've not come across it yet.

What I would do is write to Home retail group, first and if this fails, then send the letter I send you to St Andrews, as that letter I done is specifically fo the underwriter/insurer.
So you would keep the letter from Home Retail Group, to forward a copy on to St Andrews.
I take it HRG were the main ones you would have to complain to as they had first responsibility to sell? (For Argos)?

So if this is the case, send the complaint form to HRG (You will find a complaint form on the Financial ombudsman service (FOS) website to complain directly to the business (do not get this confused with the FOS complaints form, such as if you need to complain to them) ;-).

I will message you with a letter I sent to my underwriter/insurer to you now shortly, and you can use this to help with your letter to St Andrews if it comes to this.
Hope this helps. And your welcome.

[eacdec]

Re: PPI Claim for July 2003 loan taken out with Argos Loans Help Required

Hello,
Just seen your helpful advice.
I too took out a loan with Argos in December 2003.
I have the original agreement, and would like to explore the posibility of reclaiming the PPI as I was self employed. I asked to have it removed but was told I would have to apply again for a new loan and they could not guarantee the appliocation would be successful.
Would you be willing to send me the same letter so I can start the process please? I would appreciate it.
Many thanks

[di30]

Re: PPI Claim for July 2003 loan taken out with Argos Loans Help Required

Hello,
Just seen your helpful advice.
I too took out a loan with Argos in December 2003.
I have the original agreement, and would like to explore the posibility of reclaiming the PPI as I was self employed. I asked to have it removed but was told I would have to apply again for a new loan and they could not guarantee the appliocation would be successful.
Would you be willing to send me the same letter so I can start the process please? I would appreciate it.
Many thanks

Hi and welcome

On the FOS website there is a range of complaint forms, one is if you need to complain to them later on and in the RED box, you can download one to complete and send to the business your complaining to, always keep a copy, or you can follow the complaints procedures directly on Argos website, its up to you really, but anything you do try keeping a copy of so if it was rejected by the final decision you have your own proof of your complaint sent etc.......

RED BOX on the link below for the complaints form:
http://www.financial-ombudsman.org.u...complaints.htm

Keep us posted and if any prbs lets us know so we can go from there.

Cheers and good luck x:tinysmile_twink_t2:

[eacdec]

Re: PPI Claim for July 2003 loan taken out with Argos Loans Help Required

Hi and welcome

On the FOS website there is a range of complaint forms, one is if you need to complain to them later on and in the RED box, you can download one to complete and send to the business your complaining to, always keep a copy, or you can follow the complaints procedures directly on Argos website, its up to you really, but anything you do try keeping a copy of so if it was rejected by the final decision you have your own proof of your complaint sent etc.......

RED BOX on the link below for the complaints form:
http://www.financial-ombudsman.org.u...complaints.htm

Keep us posted and if any prbs lets us know so we can go from there.

Cheers and good luck x:tinysmile_twink_t2:

Many thanks. Will let you know in time how I get on.

[brandy1966]

Re: PPI Claim for July 2003 loan taken out with Argos Loans Help Required

Right ok, is there a separate agreement your wife signed as well?
Because it looks like the amounts of both loan and insurance were already applied on that actual agreement and all they wanted your wife to do was sign at the bottom but not part on the form to question if this product was wanted or not, if you get my drift.

Now, I note they were not FSA regulated when this was taken out, so like myself and others, we have gone the alternative avenue which is the insurer/underwriter of the policy.
They will not at all take the full liability, but they still do have some joint liabilities and responsibility.

I was successful in writing a letter to the insurer/underwriter of the policy, (another business) to whom you are dealing with, but the wording for this letter must be carefully written.

I will be happy to forward you a copy if you wish me to. Please let me know.

It looks like going by the information you attached that this was underwritten by St Andrews. So I think it will be a matter of trying these direct first, as these would have been regulated by the FSA even if Argos finance was not then, and if this fails with the underwriter, you will be able to complain to the Financial ombudsman service (FOS).

Hi Dizzi we would be most grateful for a copy of that letter, do we need to sar Argos Loans / Home Retail Group first or just write direct to St Andrews with our complaint ?many thanks in advance

[di30]

Re: PPI Claim for July 2003 loan taken out with Argos Loans Help Required

Hi Dizzi we would be most grateful for a copy of that letter, do we need to sar Argos Loans / Home Retail Group first or just write direct to St Andrews with our complaint ?many thanks in advance

Hiya

A SAR can be useful if you havent any information of your accounts etc, if you wish to do this, let me know myself or someone can post up the SAR template letter.
I shall pm you with the underwriter letter now, good luck x :tinysmile_twink_t2:

[Polsie]

Re: PPI Claim for July 2003 loan taken out with Argos Loans Help Required

Hiya

A SAR can be useful if you havent any information of your accounts etc, if you wish to do this, let me know myself or someone can post up the SAR template letter.
I shall pm you with the underwriter letter now, good luck x :tinysmile_twink_t2:

Hi, Sorry to bring up on old topic. I am in the same boat with Argos Loans/St Andrews Group having had no joy with Argos I am looking at writing to St Andrews Group (underwriters) and would be very grateful if you could give me a copy of the example letter to the underwriters.

Regards.

[kareena2b]

My daughter is in the same position-we exhausted Argos complaints, we also wrote to St Andrews with no joy, so D130, if you still use this forum, can I also have a copy of the letter yo refer to in order to approach St Andrews again. Thank you in anticipation