Getting Fobbed Off I think - Help Pleas

[BJ's Dad]

Hi
Hope somebody can give me a bit of help
Took a loan out with HFC in July 03 (Household Bank then and Beneficial Bank before that)
Was told that because I was renting property I had to take out their PPI
This was a loan they'd invited me in for to consolidate other commitments
Through this site I cancelled the PPI in January and sent a letter requesting the refund of monies already paid stating that I was mis sold due to being told I had to take the PPI out to qualify for the loan
Received a letter back on 14th Feb stating that at 'present time were unable to resolve issues raised and hoped that the complaint could be resolved shortly'
Still paying loan amount off minus the PPI amount and getting an abundance of telephone calls/letters asking for the full amount.
Received a further letter on saturday stating ' at present time unable to resolve complaint as investigation yet to be concluded and at such time a full response will be sent in writing' ' apologies for the delay and am obliged to refer complaint to FOS but hope this won't be necessary'.
Amount claiming for is over £4k - approx £1,500 left on loan (excluding PPI)
What should I do
Thanks
BJ's Dad

[Happyolddog]

Re: Getting Fobbed Off I think - Help Pleas

Hi BJ's Dad,

Make your complaint to the FOS and write back to the lender letting them know your complaint has gone off, see what happens from then.

Making a complaint to the FOS.
http://www.financial-ombudsman.org.u...complaints.htm

Good Luck,
Hod...Liam.

[enaid]

Re: Getting Fobbed Off I think - Help Pleas

The sale of payment protection insurance wasn't regulated by the Financial Services Authority until 14 January 2005.


Before January 2005 PPI sales still had rules to follow

Codes of practice

However, advisers selling PPI still had rules to follow. Most firms or advisers selling PPI would be covered by a code of practice imposed by one of three trade bodies: the Association of British Insurers (ABI), the General Insurance Standards Council (GISC) or the Finance and Leasing Association (FLA).
All three codes of practice required advisers to provide information at the time the insurance was taken out, to help you decide if the policy was suitable for you.
Essentially, advisers and firms were required to cover the same points as they do according to the current rules.
No extra requirements for advice

The main difference between sales before and after regulation is that all sales before regulation were 'non-advised', as the 'advised' regime didn’t come in until regulation was introduced.
So, even if your policy was sold to you before 14 January 2005, if the adviser didn’t cover the points under 'all sales' on the PPI – the rules page, then you may have been mis-sold and should make a complaint.
Do not be put off if the firms replies to say that they disagree and that they are assured the sale was within the rules. We have known cases of firms swearing that sales conversations were recorded that prove a sale was valid, only to back down when challenged to produce the evidence.
If you are not offered a fair refund from your first letter, write again – citing your grievances again – with a demand that the matter be resolved within 14 days.
If this is not successful, take your complaint to the Financial Ombudsman Service. You will need to repeat your reasons for complaining on a complaint form

[BJ's Dad]

Re: Getting Fobbed Off I think - Help Pleas

Many thanks to you both

[Amethyst]

Re: Getting Fobbed Off I think - Help Pleas

I think you need a copy of your credit agreement. If they have made the PPI a part of the loan (cost of credit) on the agreement they are pretty much stuffed. It certainly sounds as though it was missold, and I would agree with happy to go to FOS, but also request the original signed agreement under the CCA 1974.

[BJ's Dad]

Re: Getting Fobbed Off I think - Help Pleas

Hi Ame
I'm a bit confused with the content of your reply
I have an unsigned copy of the loan agreement and in it the details are split as follows
Amount of Loan xxxx
Add xxxx (APR 25.1%)
Total Amount xxxx

PPI
Life xxxx
ASU xxx
Sub Total xxx
Add xxxx (APR 25.1%)
Total xxxx

Monthly Payments both above Totals / 60 repayments

Does this mean they've included as part of loan or not?

[Amethyst]

Re: Getting Fobbed Off I think - Help Pleas

lol I like confusing people.

Thanks for that, can you put the figures in the above post (dont have to be exact pence just basic ones)

[BJ's Dad]

Re: Getting Fobbed Off I think - Help Pleas

Hi Ame
Filled in amounts and pm'd you
Thanks
BJ'D

[Amethyst]

Re: Getting Fobbed Off I think - Help Pleas

Thanks hun, am having a look with tools

[Amethyst]

Re: Getting Fobbed Off I think - Help Pleas

Hi babe, from the parts you have given me it looks like everything is in order. They have seperated PPI from the amount of credit. Although they have 'loaned' you the PPI amount and charged interest on it.

Have you requested an original copy of the CCA from HFC ? I really think you should request that under section 77 of the consumer credit act. There is a letter in the library to help. Also a copy of the T&C's of the PPI cover.

[BJ's Dad]

Re: Getting Fobbed Off I think - Help Pleas

Thanks Ame
Understand that it has been split loan/ppi but i said that didn't want it in first place
was told only way to get loan was to buy the ppi - thought that was wrong and worth claiming against

[Amethyst]

Re: Getting Fobbed Off I think - Help Pleas

Yes it is definately.

[enaid]

Re: Getting Fobbed Off I think - Help Pleas

Hi,
Here is some info on how to complain to the FOS, I do believe if they take on your case and you lose or they can't help you, then you can take the court route. If you go the court route and lose you can not then go to the FOS
http://www.financial-ombudsman.org.uk/publications/factsheets/payment-protection-insurance.pdf


Hope this helps Enaid x

[BJ's Dad]

Re: Getting Fobbed Off I think - Help Pleas

Thanks Enaid
You've just answered the question I sent to Ame
Will do the FOS route tomorrow because HFC's time has come and gone lol

[enaid]

Re: Getting Fobbed Off I think - Help Pleas

Great stuff, I wish you the very best of luck. Just bear in mind these people don't rush and they are very busy (lol not that we are not mind)
Am sure too it was HFC's that got find for mis selling, but I could be wrong Enaid x