Saffy's PPI thread

Ok I'm jumping on the PPI claim back train. Firstly we have a few store cards through GE Money that can be started, I have done the relevant spready's and am going to send the following letter (I've adjusted it accordingly) can someone please check/alter it so I can get started please.

Ref: xxxxxxxxxxxxxxxxxxxxxx Dorothy Perkins Store Card

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

I took out a credit/store card during early 2003. Your salesperson did not check my personal circumstances at the time of sale, which they are under obligation to do. If they had done, they would have realised that a PPI policy was useless to me.

I am requesting a full refund of all my insurance payments, plus interest, which total £597.45.

If I do not receive a favourable response from you I will pursue this claim through the County Court.

[stevokenevo]

Re: Saffy's PPI thread

i reckon it would be an idea to state why you believe the policy is/was unsuitable for you, i.e self employed.

There are also loads of different reasons, like the store person didnt inform you that you could buy the policy elsewere cheaper etc

[stevokenevo]

Re: Saffy's PPI thread

ok here is a snippet from my letter

I took out a loan with your company and also bought a payment protection policy.
When I took out the loan, I was a company director, working in my family business, which I believe would render me self employed and as such the PPI was invalid.

In addition to this, I was not asked whether I had any other insurance which would cover the loan.
I was not informed I could purchase PPI elsewhere to cover the loan.
I was led to believe PPI was a standard component of the loan at my extra cost.
It was not explained that there were certain exclusions within the policy which could affect me, therefore rendering the policy useless.
I increased my loan and I believe the PPI was increased automatically.
The terms and conditions of the small print were not fully explained to me. If they had been I believe I would have opted not to take the PPI.

I believe I have been mis-sold the policy on the above grounds, and as such, require the refund of all premiums paid plus any insurance paid on the premiums.

The section in red i reckon you can help yourself to and add as much of this as you like, as these are all valid reasons why it could be mis-sold (from what ive been led to believe ;-)

The first paragraph, i believe is valid, as last year i was knocked back for a loan due to the fact the lender believed as a company director i was self employed, despite the fact i provided them with a letter to certify i am a salaried employee of a ltd company.

[Sapphire]

Re: Saffy's PPI thread

Ref: xxxxxxxxxxxxxxxxxxxxxx Dorothy Perkins Store Card

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

I took out a credit/store card during early 2003. Your salesperson did not check my personal circumstances at the time of sale, which they are under obligation to do. If they had done, they would have realised that a PPI policy was useless to me. At that time I was a Company Director, working in my family business, which I believe would render me self employed and as such the PPI was invalid.
Also at no time did your salesperson explain the terms and conditions of the smallprint to me. If they had been I believe I would have opted not to take the PPI.

I am requesting a full refund of all my insurance payments, plus interest, which total £597.45.

If I do not receive a favourable response from you I will pursue this claim through the County Court.

How does that look ?

[stevokenevo]

Re: Saffy's PPI thread

looks good to me, but, i would def seek a second opinion, so hold off and see what the experts reckon ;-)

[Amy]

Re: Saffy's PPI thread

Sapph, at the risk of making a rod for my own back here I think you should be much more positive with the wording. "I believe" should be replaced unless you are offering an opinion and are not sure.

You need to say why being self employed constitutes being mis-sold PPI and a breakdown of the figures would probably be in order too.

[Sapphire]

Re: Saffy's PPI thread

Oh Amy hun you know that you are the bestest of letter writers and are both beautiful and a complete genius as well (is that enough sucking up?).

Can you re-write for me please then. Love you xxxxxxxxxxxxxxxxx

[Xena]

Re: Saffy's PPI thread

Saffy use this and tweak according to your situation.

tweak this letter to your own situ.

[Your address]
The Complaints Department
[Lender’s address]
[Date]

Dear Sir/Madam,

Ref: [Your PPI policy number]

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

I took out a £xxx loan/credit card at your […. Branch] on [date] and also bought a payment protection policy which would cost me an extra £xxx over the life of the loan. [The name of the salesperson who sold me the policy is ...] The total amount of my premiums plus interest is £ xxxx.

I am [self-employed/work as a contractor/unemployed/retired] and therefore will not be eligible for any payments from the PPI if I find myself unable to meet my debt repayments.

Possible additional paragraphs – include the one which applies


[Your salesperson knew this at the time of sale but did not point out to me that this would make the insurance policy useless to me.]


or

[Your salesperson did not check my personal circumstances at the time of sale, which they are under obligation to do. If they had done, they would have realised that a PPI policy was useless to me.]


Insurers are under an obligation to ensure that the policy they are selling is appropriate to that customer and clearly, as my employment situation means I am unable to claim on the policy, you have not fulfilled this requirement.

I am requesting a full refund of all my insurance payments, plus interest, which total [£ xxx].

If I do not receive a favourable response from you I will pursue this claim through the County Court.

Yours sincerely

[Sapphire]

Re: Saffy's PPI thread

Thanks Xena hun, I guess that although I am a Company Director and that I am employed by our own company and pay PAYE, I am in a way classified as self employed so I will run with that.
Thats what was confusing me, letters are being done and will be away later.

[Xena]

Re: Saffy's PPI thread

But were you and Les self employed at the time you took out the cards?

You haven't had this business long.

[Guest]

Re: Saffy's PPI thread

Rules between lenders differ, but it is generally accepted that if you own 25% or more shares in the company that employs you the fact that you are paid via PAYE is immaterial. You will be considered self employed.

[Sapphire]

Re: Saffy's PPI thread

Thanks for that Cet not only have you put my mind at rest re this PPI stuff, you have also settled an argument in this house, as I argued that we are in effect self employed and himself has insisted that we are employed.

Great guns he's paying for the meal tonight, cheers hun.

[Xena]

Re: Saffy's PPI thread

Have you done your letters now then????

[Sapphire]

Re: Saffy's PPI thread

Yes they are all done hun and being posted in the morning FIRST CLASS is that Ok with you? Can I have a cuppa now please Aunty Xena?

[Xena]

Re: Saffy's PPI thread

Yes they are all done hun and being posted in the morning FIRST CLASS is that Ok with you? Can I have a cuppa now please Aunty Xena?

Cuppa!!!! No way!!!! Pint of G&T yes - then I will let you off.