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RE: LBA to Halifax

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  • RE: LBA to Halifax

    Hi all.
    I am putting together a LBA to the halifax regarding miss selling of Credit card PPI. The information came back as requested in the SAR and looking into The credit card was taken out in February 2003 and from that date credit card protection was taken out. On investigation a agreement was not signed for the credit card until June 2007. So as my partner suspected the card was just sent with no credit agreement attached to it until 2007. The question is that the intrest charged on a credit card is far in acsess of the 8% and the PPI element is added to the outstanding balance. Would it be unreasonable to ask for the intresat paid on the PPI element to be refunded in full as if i win and they pay back PPI to date plus the 8% my partner in theory will be still well out of pocket. Any advice would be great.
    Thanks.
    Tags: None

  • #2
    Re: LBA to Halifax

    Can someone have a look and see what they think aqny feedback would be great.
    Thanks.
    [FONT='Times New Roman','serif']I Have been looking at my agreement with you reference the above and have noted that I purchased the payment protection insurance from you.[/FONT]
    [FONT='Times New Roman','serif']I am now in receipt of my SAR and upon looking at information provided I am now of the belief that I was mis-sold PPI due to.[/FONT]
    · [FONT='Times New Roman','serif']My visa card application was signed and dated 15/06/2007 despite the visa card account starting February 2003 Thus payment protection was added without my knowledge between 02/2003 to 06/2007.[/FONT]
    · [FONT='Times New Roman','serif']As from 06/2007.[/FONT]
    · [FONT='Times New Roman','serif']I was not asked whether I already had any existing insurance or employer cover/benefit that would cover the repayments.[/FONT]
    · [FONT='Times New Roman','serif']It was never explained that there are exclusions within the policy clauses that could seriously affect any potential claim I made on the insurance.[/FONT]
    · [FONT='Times New Roman','serif']At the time of purchasing the PPI I was not made aware of any exclusion which related to pre exiting or on-going medical conditions.[/FONT]
    · [FONT='Times New Roman','serif']The PPI policy exclusions were never explained, so I was unable to make an informed decision as to whether the insurance was required or not.[/FONT]
    · [FONT='Times New Roman','serif']I was never informed that the insurance was optional.[/FONT]
    · [FONT='Times New Roman','serif']It was certainly not in my interest to purchase this particular policy.[/FONT]
    · [FONT='Times New Roman','serif']I was not informed that I could purchase the PPI elsewhere.[/FONT]
    · [FONT='Times New Roman','serif']It was never explained that by adding the PPI monthly repayment to the outstanding balance that it would incur a huge amount of interest over the repayment period.[/FONT]
    [FONT='Times New Roman','serif'][/FONT]
    [FONT='Times New Roman','serif']What I expect from you is justification that the policy was suitable for me based on my circumstances and an explanation as to how your suitability criteria works. If you cannot justify this to my satisfaction I request a full refund of all PPI premiums paid to date as well as interest on these payments as I believe I have been deprived of this money. I also expect an interest element to be added to each sum at a suitable rate and using a suitable calculation method as a compensatory gesture.[/FONT]
    [FONT='Times New Roman','serif']I expect a swift response to this letter within 14 days, containing either your full justification or notice that you will be refunding these payments.[/FONT]
    [FONT='Times New Roman','serif']If I do not receive a satisfactory response I will issue another letter notifying you of my intention to take further action if the matter is not resolved within a further 14 days. After this time limit has passed I will be either contacting the Financial Ombudsman to investigate my complaint or issuing court proceeding.[/FONT]
    [FONT='Times New Roman','serif'][/FONT]
    [FONT='Times New Roman','serif']Yours Faithfully[/FONT]

    Comment


    • #3
      Re: LBA to Halifax

      Hiya

      First of all good luck on your reclaiming and you seem to be well prepared.

      As long as you feel you've covered all areas on where you were mis sold, then your ready to go ahead.

      When you say letter before action, do you mean you have already wrote to them about the ppi in relation to reclaiming, so in other words your chasing them up because you've not heard anything?

      Or, the letter above is the first letter your sending to make the reclaim on the ppi?

      If so they have 8 weeks to investigate and to come to a decision, if you've previously pursued them and you've heard nothing in that time, then you can follow it up.

      So if this is the first letter, change the 14 days to 8 weeks.

      In regards of calculations, you could post the figures up and the guys, Turbo and Bill would be happy to check them for you.

      All the best on your reclaiming.

      Comment


      • #4
        Re: LBA to Halifax

        This is the first letter to them. I sent this tonight to them. Think a little premeture as i have give them 14 days and not the eight weeks. OOOOOOOOOP,s any advice would be apprecated. Should i re-draft and send again saying please ignor 1st copy.
        Total amount paid in payment protection so far since February 2003 till present day £4,900.
        Many Thanks .
        Steve.

        Comment


        • #5
          Re: LBA to Halifax

          Originally posted by S Mac View Post
          This is the first letter to them. I sent this tonight to them. Think a little premeture as i have give them 14 days and not the eight weeks. OOOOOOOOOP,s any advice would be apprecated. Should i re-draft and send again saying please ignor 1st copy.
          Total amount paid in payment protection so far since February 2003 till present day £4,900.
          Many Thanks .
          Steve.

          Hi Steve

          That will be ok, don't worry, they may just get back and make you aware they have 8 weeks, so no worries.
          You could still get a decision before 8 weeks.

          I will leave the guys a message on the calcs for you. X

          Comment


          • #6
            Re: LBA to Halifax

            Originally posted by S Mac View Post
            Hi all.
            I am putting together a LBA to the halifax regarding miss selling of Credit card PPI. The information came back as requested in the SAR and looking into The credit card was taken out in February 2003 and from that date credit card protection was taken out. On investigation a agreement was not signed for the credit card until June 2007. So as my partner suspected the card was just sent with no credit agreement attached to it until 2007. The question is that the intrest charged on a credit card is far in acsess of the 8% and the PPI element is added to the outstanding balance. Would it be unreasonable to ask for the intresat paid on the PPI element to be refunded in full as if i win and they pay back PPI to date plus the 8% my partner in theory will be still well out of pocket. Any advice would be great.
            Thanks.

            Excellent question---we will come back to you (thro Bill-lol)

            Comment


            • #7
              Re: LBA to Halifax

              Thanks Di will let it run it,s cause and see what happens thanks for the advice.
              Steve.

              Comment


              • #8
                Re: LBA to Halifax

                Hi Steve,

                You seem to have a pretty good grasp of the principles. Yep, indeedy - you should be able to reclaim the interest charged on the PPI portion of the balance - and a further 8% on top of that. If I may, I would suggest you have a read of some of the other PPI reclaim threads to get an idea of the 'methodology' of PPI reclaims.

                You will then need to put the figures into a spreadsheet, to get some idea of what you are hoping to reclaim.

                Next step is to see what the lender's response is, and we take it from there. But read up some of the PPI threads, so you know the 'form.'

                When the time comes, Turbo and I will be happy to help with the figures.

                Comment


                • #9
                  Re: LBA to Halifax

                  Thank you so much Turbo and Bill, your both diamonds.
                  Hopefully Marshallka will be back soon as well x

                  Comment

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