Hi Mike!

I thought I should advise you that there is no point in copying correspondence to the Ombudsman at this stage. The office will just write back and say that they haven't the remit to consider the matter until you have reached deadlock with the financial institution concerned.

Just keep it to written form, and try and push as hard as you can to get it sorted. Get an email address if you can, and harass the person dealing by email (which is quicker than Royal Mail but can still be printed off and kept).

Once you have the deadlock (if indeed that is how it goes; you might be lucky) then you need to copy it all to the Ombudsman.

Sorry to take the wind out your sails a little bit but I know that they are really strict about their terms of reference.

HTH

Cat

Morning All,


Thank you for the quick replies - very much appreciated.

For now, I'll send a formal complaint to my Bank, CC'ing the Ombudsman outlining the events so far.
I have read about the mis-selling of PPI to self-employed people, so for this at least I have a few case studies to work from.

Once again thank you, and I'll keep you informed.


Regards,


Mike

Your best bet is to make your complaint more formal and conduct it fully in writing - evidencing every step of the way. If you do have any further telephone conversations then please make sure you note down the time and date of the call, who you spoke to and what was said. Don't speak to them without pen and pare beside yuo, but best not to speak to them at all - do it all in writing.

You need to follow the bank's complaints procedure right through to its bitter end. This will come about in one of two ways; either they will resolve the matter to your satisfaction, or they will send you what is called a deadlock letter - a letter that states that they have exhausted their procedures and will not consider the matter any further.

Once you receive a deadlock letter you will be able to refer the matter to the banking Ombudsman. You should receive the appropriate leaflet with you deadlock letter. Basically, you will need to write to his office enclosing all the correspondence between yourself and the Bank, and ask them to investigate.

From what you ahve said, I would guess that you were missold PPI. There is no rule, at least, not during my banking career there wasn't - that states an unemployed person cannot have a loan, but it would, I admit, be very unusual.

I'll be interested to hear how you get on. Please do keep us informed as to how you get, especially if you do take it as far as the Ombudsman.

Good luck.

Cat

Hi mtawn,
As the Bank gave you the the loan in the first place, knowing your circumstances, then surely its there error, you were honest with them, there always seems, to be a problem with the loan Insurance, and they find some loop hole, where they get away with not paying out.Its absolutetly appalling, if your unemployed then, they are not supposed to give you insurance, on your loan. The Financial Ombudsman is very good, I do recommend them, they do a thorough Investigation, and will put things right, as they regulate the Banks, they will not pull the wool over this organisation eyes.

Dear mtawn

I don't think the FSA will be any use to you unless you know your situation falls within its remit.

Have you read the detailed terms and conditions pertaining to your situation?

The CAB will provide you with 30 mins of legal advice.

Regards

Fedora

Good Afternoon,

Can someone tell me if I have a leg to stand on over the following situation?? :
(I’ve included all facts, so apologies if it’s a little long-winded.)

In May 2005 I took out a personal loan with PPI whilst I was working full time in a permanent position.

In Aug 2005 I left my job to become an IT Contractor (classed as `self employed`/ `sub-contractor` with a limited umbrella company.)
In Dec 2005 my contract finished.
In Jan 2006 I phoned my bank for an extension on my overdraft due to my un-employment status (and lack of cash.) They advised me to renew my Personal Loan as it would make greater financial sense in both the short term and long term.

I renewed my personal loan with PPI. They knew I was out of work, that I was a contractor and I was looking for another Contracting role.

In Dec 2006 my latest contract finished.
In Feb 2007 I phoned my bank to make a claim on my PPI.

They responded by telling me I am unable to claim due to my Employment Status, and that my insurance is infact invalid, as I’m classed as self-employed.

As such, I put a complaint in advising that they need to do one of two things:
Reimburse in full for all the payments I have made, and exclude all future payments from my personal loan.
Or, activate my account and allow me to make a claim.

I have since received a phone call from my bank querying my complaint and gathering further information. Before I could get to my ramble about being mis-sold PPI, she ended the call wishing to investigate why I was sold the loan whilst I was un-employed.

Is there anything I can do my end to maximise this situation?
I feel my bank will offer me very limited response and shall try to avoid any ownership.

As I was un-employed at the time of renewal, does this make the loan invalid?
As they were fully aware of my employment status, what can I do to resolve the matter re: PPI?
[i have submitted a complain to the FSA, awaiting a response.)

I look forward to any responses (relating to the above)


Regards,

Mike