K+co Cat, PPI REclaim - success thro CEO Letter **WON**

[Glassart]

Kandco Catalogue debt advice needed please.

 

Hi please can you advice me,

 

I owe K&Co £9000 (nine thousand)

I fell behind on my payment last month for the first time but have been having a hell of a time finding the money to pay them each month for a very long time,

I have been with K&Co from Nov/Dec 2002.

 

I phoned them and told them I was having problems finding the money and that the latest buy now pay later had caused me to fall behind for the first time

so I asked them for help the lady said that all they could do was to let me pay £320 for 9 month and then they would look at it again after that

or I could give me a loan at 39.9% and she said that would add £5000 to my total making it around £14000

 

I said I would try to pay the £320 a month as I did not know what else I could do and they have sent me a letter to confirm the arrangement dated 17 August 2011.

 

But I have no way to pay anything like that amount and I have used up all my Bank Overdraft of £1000.00.

 

 

 

My Monthly Income

Child Benefit £80.00 MONTH

Contributions from others in the household £100.00 MONTH

My Incapacity Benefit £770.00 MONTH

A. Total Income £950.00 MONTH

 

 

Total Spending

My everyday monthly expenses and Priority bills Total Spending £900.00.

 

 

The only thing of value my wife and I own is our family home that we own out right and we are worried that we will be made to sell it. Can this happen to us?.

 

 

I am thinking of offering K&Co £40 a month and paying off my over draft at £10 a month.

 

 

I am in a mess I know but I have been on Incapacity Benefit for some time, what to do?.

 

 

Your advice would be welcome.

 

 

Regards J.T

[gezwee]

Hi Glassart

 

Welcome to Cag

 

As you've probably realised its a waste of breath speaking to the phone monkeys at K & co.. don't speak to the numptys

 

For the short term complete an I & E from the library..... just gives you a little breathing space whilst they print off the usual "we are unable to accept blah blah blah"

 

Next on your list is a CCA request followed by [or at the same time a SAR], chances are they will not have an enforceable agreement but just on the offchance they do you'll want to be reclaiming any/all charges + interest + any PPI you may have on the account.

 

If you get stuck, shout and I'll point you in the right direction but tbh if you search the site first whilst looking for the templates you'll have a much better idea of what you need to do

 

Gez

[Glassart]

Hi Gez,

 

 

 

Thank you,

 

Can you please tell me if I have this in the right order:

 

 

 

After I get back the "unable to accept blah blah" I send the "CCA request followed by [or at the same time a SAR",

 

 

Also

 

 

I phoned ConsumerNet today regarding PPI, as I thought if I got any money back I could pay it off the debt, and ConsumerNet are sending me a form no win no fee, I hope that was the right thing to do, and in the right order?.

 

 

Also

 

 

Regarding reclaiming any/all charges how and when do I do that?.

 

 

Do you think I will lose my home over this matter?.

 

 

Thank you again for your advice.

 

 

Regards J.T

[gezwee]

Hi J.T

 

Whatever else you do........... do not borrow any more on your overdraft, you'll be digging a hole you won't be able to fill and incurring further costs and aggro with your chosen bank.

 

Do the I & E and your CCA request and your SAR all at the same time, send under seperate cover for each and print off recorded delivery receipt for use if any counter from them at a later date.

 

Not looked at consumernet but would assume they are much the same as others with a percentage for a pretty much guaranteed payout.

 

Do you have an indication of how much in fees/PPI you'll be looking to offset against any alleged debt?

 

Gez

[Glassart]

Hi again,

 

 

 

Gez,

 

 

 

I stated paying PPI in 2002 a few £'S and I canceled it 2010 by that time I was paying around £120 a month so a wild guess £3000.

 

 

Regards J.T

[dx100uk]

K&co ae a none priority debt

 

you are on benefits & at best they should be getting £1PCM and NO MORE

 

you need to take control of YOUR MONEY , not let your creditors do it.

 

i would not pers bother with a CCA

 

its obv you have an A/C with them and there is a clear financial links too.

 

htere is p'haps worth in doing an SAR to get all your statements.

 

that will enable you to:

reclaim the PPI [do this yourself with help from us - DO NOT PAY A NWNF spoofer to do it!]

reclaim any late/over/phone/letter charges - these are unlawful.

 

you are no-where near ever losing your home over this - that is a very very loing way off and would only happen if a judge ever thought you should pay more on benefits to these people.

 

i would recommend you have a look at a few threads in this forum before you do anything yet

 

as for your OD

i would start a new thread in the named bank forum.

 

dx

[gezwee]

J.T

 

I'd guess again, if you have all historical account statements you could be on to a winner if not they'll stall you at 6 years with SAR.

 

A £10.00 PPI premium in August 2002 with an APR of 39.9% with single event annual compound only comes in at £159.00 interest.

 

I'd get all the statements together you can lay your hands on and get started on a PPI reclaim

 

Gez

[Glassart]

Hi Gez & dx,

 

Thanks

 

I think I have every single statement from day one in front of me right now.

 

Regards J.T

[gezwee]

Excellent

 

In that case get yourself a spreadsheet started with all PPI premiums plus any/all fees/charges levied on the account and list by date applied.

 

There are numerous calulators available on the web for compound interest, dx may be able to point you in the right direction for the most suitable algorithm to use for K&co...... there's one here http://www.egalegal.com/compoundWindow.html

 

If/when you get stuck post your spreadsheet on here [less any identifiers] and you'll get all the help you'll need

 

Gez

[Glassart]

Hi Gez,

 

Thank you I will get to work on it tomorrow and will try to post it on here asap.

 

Does it matter that when I first got the catalogue and started PPI, I was not working and was not getting any benefits?.

 

Also

 

That the catalogue was called Great universal up untill resently then changed its name to K&Co.

 

Regards J.T

[gezwee]

Hi JT

 

Its a pretty conclusive yes...... PPI was worthless [assuming you can substantiate employment position if ever pressed for veracity]

 

Trading styles within same group so makes no difference to reclaim

 

Gez

[dx100uk]

you need to do two spreadies

 

one for ppi

and

one for any charges/fees

 

pop off to the fos website: http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

 

and have a read of a few of the customer example pdf's

 

you'll aloso need to download and fill in the customer questionaire and fire that off

with your 2 SOC's

 

use this spready to make both your SOC's just change the int rate up the top to theirs:

[Glassart]

Hi Ges & dx,

 

Thank you both, I am trying to take this all in but I don't know what a SOC is?.

 

Regards J.T

 

Also how do i find a customer questionaire?.

 

Thanks again

[gezwee]

Hi JT

 

Not sure I've ever heard it called SOC before but I'd have to assume dx refers to statement of costs

 

With regard to questionnaire, click on the link dx supplies at post #12 and go to sub heading 'standard documents for PPI complaints', you'll find an editable .doc there

 

Gez

[ims21]

Hi Ges & dx,

 

Thank you both, I am trying to take this all in but I don't know what a SOC is?.

 

Regards J.T

 

 

Hi

 

"Schedule Of Claim" or "Statement Of Claim".....i.e. the spreadsheet

 

Regards

 

ims

[Glassart]

Hi Gez, dx & ims,

 

Thank you all very much for all the advice I will make a start tomorrow and come back here asap to see if I have it all correct.

 

Thank you all.

 

Very best regards J.T

 

Hi again,

 

 

 

A few more questions:

 

 

 

My wife reminded me that after I canceled my account cover plus (PPI) with K&Co as it was making the repayments so high I phoned the insurer to see I had been miss sold the account cover plus insurance, I was on Incapacity Benefit at the time, they told me I had not been miss-sold the insurance as they would have paid up if I had to stay in hospital, so I believed them and did not take it further.

 

 

To rcap:

 

 

 

2002 TO 1010 I was paying account cover plus (PPI) with K&Co.

 

 

 

2002 I had just moved into the house that I had bought I was not working but was looking for a job but I had a health problem I was living of a few grand I left over from buying my house but my money was running out so I had to signed on, my health problem then later made it impossible for me to work and I went on Incapacity Benefit.

 

Taking this all into account does it still look like I was miss sold account cover plus (PPI) and still have a case.

 

 

Regards J.T

[gezwee]

Tbh........ yes

 

Matters not what they 'believe' or 'think'........ carry on with the Fos and your spreadsheets

 

Gez

[Glassart]

Hi Again Gez,

 

Thank you!,

 

 

 

When I have filled in my spreadies and the customer questionaire who do I send them to?.

 

 

 

Came across this customer example below on Money site:

 

 

 

 

Q:

The final letter sent by K&Co stated that.

"Due to the rules and restrictions FOS are required to follow and as your policy was sold before the 5th November 2004, it is our understanding that FOS may not be able to adjudicate on your complaint as we were not a member of a Dispute Resolution Service until this date" ."

A:

"Definitely worth contacting the FOS, even though they will not be able to adjudicate on this company, but they may suggest the actual insurer direction of the catalogue, who would have been regulated.

The FOS have been suggesting this direction to many of us in the same position.

Although it may take some time, but hopefully worthwhile in the end."."

 

 

Regards J.T

[dx100uk]

always to the OC.

 

you dont go anywhere near the fos yet

just use their forms

 

dx

[Glassart]

Hi dx,

 

OC ? is that,

Kandco Catalogue.

 

Regards J.T

[gezwee]

Hi dx,

 

OC ? is that,

Kandco Catalogue.

 

Regards J.T

 

OC = Original Creditor

 

Yep, K&co

 

Gez

[Glassart]

Hi Gez,

 

 

 

Thank you very much.

 

Regards J.T

 

Hi again,

 

 

 

On the PPI-consumer-questionnaire:

 

 

 

Question A4 "POLICY NUMBER"

 

 

So far in looking at all the ten years of paper work I have only two Account CoverPlus papers they say "This is your certificate confirming cover" it says "your reference number is 123/45678910". "Please quote this number in any correspondence with us". "This is to certify that the insurers will indemnify".

 

I am asking Because:

 

Question C1 "WHAT WAS THE ACCOUNT NUMBER FOR THIS".

 

 

"This number will be different to the insurance policy number you filled in on page one".

 

My catalogue account number was 123/45678910 in 2003 when they were called Great Universal, but they changed the account number some years later to 109/87654321 when they renamed to First, they then renamed again to K&Co, and the account number remained the same 109/87654321.

 

Would the 123/45678910 number be the POLICY NUMBER needed for Question A4 or could it be that I have never received a POLICY NUMBER.

 

I can't see why the POLICY NUMBER would be missing if it's not the above (123/45678910). as I have every statement and paper for all the 10 years.

 

 

Hope I am making sense.

 

Regards J.T

[dx100uk]

it matters not what you put

 

as long as it ID 's the agreement or A/C number , related to you.

 

dont think you HAVE to answer every question

those you cannot leave blank or state don't know.

 

dont forget

 

you are not filling that out to justify your claim

 

 

 

just solely for the summing of info in a std format/form they cannot argue with as its the FOS

 

shows you mean business.

 

dx

 

 

dx

[Glassart]

Hi dx,

 

Thank you once again for your help.

 

Regards J.T

 

Hi all,

 

 

 

This is my spreadsheet with all PPI premiums list by date applied. [less any identifiers].

 

 

 

 

Please have a look at it for me as I have no idea what I am doing and let me know if it's ok.

 

I used the bezzyCap1.xls file that dx gave me to download, I change the Interest rate up the top right and left to 29.9% as that's what I believe is K&Co's Interest rate but I am not sure about that (would it have been 29.9% from 2003 to 2010) or would it have changed as this is not clear from the statements as far as I can see so if anyone knows better please do let me know.

 

 

Thank you J.T

[ims21]

Hi all,

 

 

 

This is my spreadsheet with all PPI premiums list by date applied. [less any identifiers].

 

 

 

 

Please have a look at it for me as I have no idea what I am doing and let me know if it's ok.

 

I used the bezzyCap1.xls file that dx gave me to download, I change the Interest rate up the top right and left to 29.9% as that's what I believe is K&Co's Interest rate but I am not sure about that (would it have been 29.9% from 2003 to 2010) or would it have changed as this is not clear from the statements as far as I can see so if anyone knows better please do let me know.

 

 

Thank you J.T

 

Hi

 

Two changes to make.....

 

In the blue section, change the end date of claim to today's date

 

In the pink section change the 29.9 back to 8

 

I assume the amounts you have put in for the charges are correct.

 

Regards

 

ims