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As you may be aware, the Financial Ombudsman Service (FOS) have issued Questionnaires to make a reclaim on your mis sold Payment Protection Insurance (PPI), this is also to save time later on.
You complete and send to whoever was responsible for setting up your loan/credit card account, and keep copies in case you need to make a complaint to the FOS later on, for example, you may not be happy with the "final" outcome or the business may have rejected your complaint.
They have 8 weeks to give a decision.
Niddy have posted up some helpful and useful links in regards of making a reclaim, you will find the details here.
http://forums.all-about-debt.co.uk/s...ead.php?t=1041
You will also find a copy of the Questionnaire on the FOS website here.
http://www.financial-ombudsman.org.u...stionnaire.doc
However, if you prefer to write a letter, you can do this instead, but still keep copies of everything you send and receive - you may need to refer back to your case again, and send any copies of documents, letters etc to the FOS when making a complaint, this saves time later on.
If you can keep your letter of reclaiming personal, make it your own, the chances of success are actually known to be higher than that of using templates, this is because the high majority have used them and loan buisinesses are used to received the same letters, even if the reasons differ.
I will post a link to an example template letter, this will give you an idea on what you should include on your letter, and also make sure you disclose your own reasons and to mention the FOS once the 8 weeks are up.
If you did want to use the template letter though, that is still fine, but try to tweak it to your requirements if you can.
Dear Sir/Madam,
Re: [insert your credit reference number and the policy number of your PPI e.g. Personal Loan reference ABCDEFG / Payment Protection Policy No: 123456]
I purchased the above policy from you in [insert month and year] in connection with the [mortgage/loan/credit card/store card/finance agreement] referenced above.
I believe that I was mis-sold this policy for the reason(s) given below, and wish you to investigate my complaint according to your normal complaint procedures.
[insert one or more of the following bullet points – whichever point(s) refer to you. Delete any points which are not relevant to you.]
I was not told that the insurance was optional.
I was led to believe that my application for credit would be rejected if I did not take out the insurance.
The policy exclusions were not explained to me either before or at the time I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me.
I now believe the insurance was unsuitable for me as I was suffering from [insert name of any medical condition you had at the time you took out the policy] at the time I took out the policy and was not made aware of the specific exclusion which relates to pre-existing medical conditions.
I now believe the insurance was unsuitable for me as I was [self employed / unemployed / in temporary employment / on a fixed term contract/retired ] at the time I took out the policy and was not made aware of the specific exclusions relating to unemployment cover.
The policy was unsuitable for me as I was over the maximum age of [insert maximum age].
It was not explained to me that the policy premium would be paid upfront as a single premium and would be added to my debt and attract interest.
The insurance [has expired / will expire] before my loan/credit agreement ends which means I [am paying / will be paying] interest on a policy which is no longer in force. This was not made clear to me at the time the policy was sold to me.
If my complaint is upheld I require a refund of all premiums paid to the policy, plus any additional interest charged to me because of the PPI. I would also like to claim statutory compensation in view of the fact that I have been deprived of the use of this money.
Please now investigate my complaint within the eight weeks allowed to you.
Yours faithfully
[SIGN YOUR NAME]
[TYPE YOUR
.................................................. .................................................. ....
As shown here.
http://www.which.co.uk/campaigns/per...sample-letter/
It is also suggested to post your letters/questionnaires by Signed for Recorded delivery.
You can check the status of delivery via Royal Mail Website - Track & Trace here.
http://www.royalmail.com/portal/rm/p...1&catId=500185
The receipt received by the Royal Mail will enclose the Tracking reference number, you write the number in the Track and Trace search box and this should then confirm delivery and you may even have a receipt to prove that your item have been signed by the business.
You complete and send to whoever was responsible for setting up your loan/credit card account, and keep copies in case you need to make a complaint to the FOS later on, for example, you may not be happy with the "final" outcome or the business may have rejected your complaint.
They have 8 weeks to give a decision.
Niddy have posted up some helpful and useful links in regards of making a reclaim, you will find the details here.
http://forums.all-about-debt.co.uk/s...ead.php?t=1041
You will also find a copy of the Questionnaire on the FOS website here.
http://www.financial-ombudsman.org.u...stionnaire.doc
However, if you prefer to write a letter, you can do this instead, but still keep copies of everything you send and receive - you may need to refer back to your case again, and send any copies of documents, letters etc to the FOS when making a complaint, this saves time later on.
If you can keep your letter of reclaiming personal, make it your own, the chances of success are actually known to be higher than that of using templates, this is because the high majority have used them and loan buisinesses are used to received the same letters, even if the reasons differ.
I will post a link to an example template letter, this will give you an idea on what you should include on your letter, and also make sure you disclose your own reasons and to mention the FOS once the 8 weeks are up.
If you did want to use the template letter though, that is still fine, but try to tweak it to your requirements if you can.
[INSERT TODAY’S DATE]
[INSERT YOUR NAME AND ADDRESS]
[insert name and address of the firm that sold you the insurance and address it to the Complaints Manager][INSERT YOUR NAME AND ADDRESS]
Dear Sir/Madam,
Re: [insert your credit reference number and the policy number of your PPI e.g. Personal Loan reference ABCDEFG / Payment Protection Policy No: 123456]
I purchased the above policy from you in [insert month and year] in connection with the [mortgage/loan/credit card/store card/finance agreement] referenced above.
I believe that I was mis-sold this policy for the reason(s) given below, and wish you to investigate my complaint according to your normal complaint procedures.
[insert one or more of the following bullet points – whichever point(s) refer to you. Delete any points which are not relevant to you.]
I was not told that the insurance was optional.
I was led to believe that my application for credit would be rejected if I did not take out the insurance.
The policy exclusions were not explained to me either before or at the time I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me.
I now believe the insurance was unsuitable for me as I was suffering from [insert name of any medical condition you had at the time you took out the policy] at the time I took out the policy and was not made aware of the specific exclusion which relates to pre-existing medical conditions.
I now believe the insurance was unsuitable for me as I was [self employed / unemployed / in temporary employment / on a fixed term contract/retired ] at the time I took out the policy and was not made aware of the specific exclusions relating to unemployment cover.
The policy was unsuitable for me as I was over the maximum age of [insert maximum age].
It was not explained to me that the policy premium would be paid upfront as a single premium and would be added to my debt and attract interest.
The insurance [has expired / will expire] before my loan/credit agreement ends which means I [am paying / will be paying] interest on a policy which is no longer in force. This was not made clear to me at the time the policy was sold to me.
If my complaint is upheld I require a refund of all premiums paid to the policy, plus any additional interest charged to me because of the PPI. I would also like to claim statutory compensation in view of the fact that I have been deprived of the use of this money.
Please now investigate my complaint within the eight weeks allowed to you.
Yours faithfully
[SIGN YOUR NAME]
[TYPE YOUR
.................................................. .................................................. ....
As shown here.
http://www.which.co.uk/campaigns/per...sample-letter/
It is also suggested to post your letters/questionnaires by Signed for Recorded delivery.
You can check the status of delivery via Royal Mail Website - Track & Trace here.
http://www.royalmail.com/portal/rm/p...1&catId=500185
The receipt received by the Royal Mail will enclose the Tracking reference number, you write the number in the Track and Trace search box and this should then confirm delivery and you may even have a receipt to prove that your item have been signed by the business.
