Halifax PPI - Sent cheque but should I cash it

[SteveBD]

Hello

 

I am currently going through the reclaiming of PPI from Halifax..

but I am also considering applying for additional compensation to help me make repayments of the loan,

 

I took out a loan through B O S ( Halifax), but insisted on a sound and secure insurance protection..

Reason being that I had a Stroke a couple of years previous

and wanted to protect myself.. I was also Self Employed!!

 

So as to kept this first step short.

. I went to great lengths to cover myself, and now I have been ill again.

. second minor Stroke the Halifax has told me

" I am not Covered.. As I had a previous Stroke"

 

Can I ask/Demand additional Compensation to cover the problems I am now experiencing

because of the false information given at the time.

 

 

. I think I have a case, I have the Transcripts from a telephone conversation,

 

 

Where I ask if a previous medical Condition will effect the policy and the reply being

" Not if its over 12 months since you had the Problem ( 1st Stroke) It is also states that I quoted "

If I cant have a policy that gives me 100% protection, I don't want ANY loan or credit.

 

So Far I have been ignored by both Halifax Insurance and BoS

 

 

Any advise or information would be invaluable

[ims21]

Hi

 

The norm is that the bank will refund the premiums paid to date plus the bank's interest charged on them plus 8% compensation on them too. If the loan is live then it should be restructured fo rthe part of the loan yet to be repaid to remove the future ppi from it.

 

The only way to get increased compensation would be to sue for it and you would need to be prepared to get into a court room and put your case before a judge.

 

ims

[SteveBD]

Thanks ims

 

I am thinking i might look into taking the problem to court.

but i gather it may be an up hill task, and then who do I sue..

the loan provider BoS or the insurance Halifax who gave incompetent advise.

 

The loan is still live, and I am struggling with the repayments, I have written to BoS to ask for a period of suspension,

so I can recover and get back to working again.. not heard anything back yet.

 

I've got the claim for PPI being processed. and the repayment amount has been reduced to remove the PPI section..

 

Do you think I would be wasting my time thinking Court and causing myself more problems

[ims21]

Hi

 

Well first, the target for court action would be the same part of the business who are refunding your ppi at the moment.

 

Now they will of course offer redress under fos rules and if you accept their offer then any subsequent action may prove difficult as the court could look om it that an offer has been accepted already.

 

I would guess that, given the scenario you describe, you would be seeking damages but my understanding is that monetary damages are difficult to calculate/quantify. I would say that you would have to reject their fos/FSA based offer and look at a claim based on unjust enrichment by the bank by virtue of them having your money and earning profits on it while having deprived you of your money.

 

You would certainly have to put a case together and be prepared to argue and stand your ground in court with, of course, no guarantee of a win.

 

The other thing to think about is how much you are going to get back from the claim which is currently going through. Would the amount you get back assist you in paying the loan for a period of time while you recover?

 

I think it is all a matter of balance...is it worth taking what they are offering and be done with it or do you prolong it in the hope of getting more but with no guarantee at the end of it?

 

ims

[citizenB]

Halifax and BoS are one and the same.. Halifax Bank of Scotland - HBoS

[SteveBD]

Thanks for your advice guys

 

Its good to get a second opinion, I was thinking the same. I would be wasting my time and effort and getting nothing. but to hear it from another source at least makes it feel better. I will argue any offer once its made. asking for a sum as compensation for their ill advice and go from there,

 

I know Halifax and BoS are the same.. but in their previous correspondence to me they played separate roles blaming the other one for mistakes. BUT BoS also threatened that they could raid my Halifax accounts if I did defaulted on a payment, they want it both ways.

 

I really do appreciate your advise

[ims21]

Nothing new with a bank trying to wriggle....we see it all the time.

 

shout if and when you need more help.

 

Regards

 

ims

[SteveBD]

Hi All

Just a quick question..

I sent off my claim for PPI to BOS three weeks ago,

received the normal "Sorry about your complaint letter" about a week ago..

 

 

Today I receive another letter from BoS..

this included an eight page questionnaire,

asking some difficult lengthy questions.

 

 

Just asking if this is a normal procedure..

or.. a deceitful way of making me "Slip up" so they can refuse the claim.

 

I have also made a complaint to them.

That i would NOT have used the loan offer at the time,

if loan could not be covered correctly

 

As I was self employed and had a previous illness/disability (had a Stroke)at the time the insurance cover

would NOT be available to cover repayments, sales agent lied..

 

 

SO I suggested to BOS they offer additional compensation,

as I have been ill again and finding repayments difficult.

 

 

BOS have also made a number of unregistered credit checks over the past 3 weeks..

[ims21]

Hi

 

It is normal procedure to complete a questionnaire. What I would do is ignore their one and get the one from the fos website called "consumer questionnaire".

 

Send it back to them duly completed

 

ims

[SteveBD]

Hi Ims21

 

Thanks for this info. I have downloaded the FOS questionnaire and will send it off ASAP.. it is very different to the one I received

 

Thanks for your help

[ims21]

Hi

 

Good stuff.

 

Also, don't take the bank's word on any redress offer they make to you. You should really calculate it yourself so you can check against any offer they make.

 

Have a read of No.1 in my signature below

 

Regards

 

ims

[SteveBD]

Hi

 

I am wondering if anybody has taken up a case against mis-sold payment protection. BUT not as a refund but in the form of compensation, as the PPI was sold incorrectly..

 

I was sold a small loan from BoS.. and would only accept this loan, if I could have in place a policy to protect me, if I became ill or unable to work.

 

I had suffered a previous Stroke 2002, and was self employed (freelance assessor) I was given guarantees that a policy could be arranged to protect payments. even Though I made it perfectly clear in writing, that I had a Pre Existing Medical Condition and was self employed

 

I took advantage of the Loan and for 18 months I continued to pay both loan and Policy.

 

In 2009, I had a 2nd Minor Stroke.. I could not return to work..I Made a claim,and in short was told the policy did not cover me.I made a complaint,, and stopped repayments..

BoS have listened to my complaints, and have stopped any collection activity, until I can sort this out.

 

Halifax Insurance, Has offered the normal PPI refund,, but will not take any responsibility, for the loan repayments ( they have for 12 months Ignored ALL my letters)

 

This is the basic details, what other action can be taken,, I gave them all the correct information, and they provided cover, now they will not honour the promises they made me, even though its in writing

 

Any Idea's

[ims21]

For mis-sold PPI on a loan you should get back the premiums you paid, plus any interest on that part of the loan plus 8% simple interest running from the date the payments were made to the date of settlement of the claim.

 

Have you got your agreement (or the figures from it) and a record of the repayments you have made?

[dx100uk]

is the guarantee in writing..

 

dx

[SteveBD]

Hi dx100uk

Yes, I have confirmation in an email reply,

I emailed the sales adviser details of my Medical Condition (Stroke) and Self Employment,

 

 

She replied Thanking me for the Information.. and said

" As the Pre- Exsisting medical condition, was NOT within the past 12 month period, it will not effect the application"

 

The conversations where recorded for Training Purposes.. but Halfax Insurance (Ireland) now say they can not locate the file Recording on their system.

 

I have successfully claimed back other PPI refund claims..

But I would like Halfax Insurance (Ireland) to honour their promises,

Or at least take some responsibilty for the claim made..

I am not in a financial position to file a complaint through courts.

 

My Letters to Halifax Insurance have been ignored, even tho sent recorded..

[dx100uk]

if you have it in B&W by email

 

you need to find someone to fwd that on to.

 

dx

[SteveBD]

Hi All

 

I have been in a battle with Halifax Insurance over PPI..

 

I was blatantly miss sold a loan and insurance with Halifax..

18 months after starting the repayments, I had a 2nd Stroke and made a claim.

 

 

Its a long story (as they normal are) but I had my first stroke in 2001,

and was told it would not effect any claim i might make in the future..

I got this in writing from Halifax (Ireland)

 

Made a claim, which was rejected on the grounds "I had a previous related illness/Accident" and previous health issue..

 

They are currently refusing to answer my letters,

but every 6 months I get a letter demanding I repay the loan.

. I will not go through the details of this now,

But I did not accepted their repayment offer for the PPI miselling

 

To Get to the Point

Today I received a letter from Halifax/ St Andrews Insurance PLC with a cheque for £514.73

 

 

in the letter they state

" We no longer require our customers to sign and return an acceptance form to process payment,

to resolve this matter we enclose a cheque for £514.73 in final settlement

 

IF i cash this cheque will it also close my claim against Halifax to honour the claim I made to cover the loan repayments,

and enable them to seek payment of the loan

 

I have refused to make the loan repayments as the loan was insured!!

 

Any Advise or opinions would be gratefully received

[citizenB]

I will try and find someone who can help

[dx100uk]

4 threads merged for history

 

 

please keep to one thread

 

 

dx

[BankFodder]

I'm sorry that I didn't see this thread when you first posted it well over a year ago.

 

Because they were very clear about the existence of your first stroke – and also because very wisely you have managed to record the conversation, you can force them to pay out on the insurance rather than recover the refunds of the premiums.

 

You need to decide which is the more valuable to you. You won't be able to have both.

 

Do not cash the cheque until you have done the calculations. Even now you will have caused some problems by having begun the claim because they will say – they will try to say – that you have waived your rights to the insurance cover. However, I think that with a bit of argument we can overcome that.

 

Please do all the sums and decide whether it is financially better to enforce the insurance cover against them or to accept the refunds.

 

I suspect that it is going to be much better for you to enforce the insurance cover. We will help you.

[dx100uk]

how much is outstanding on the loan

can we also see the agreement please you signed

 

 

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[SteveBD]

Hi and Thanks so much for your quick response.

 

My original loan was for £3k, I did not even apply for it,

I got sold it by an ambitious tele sales operator, par for the course in 2009.

Even I know her facts where incorrect, which is why I asked recorded the info and asked for it in writing.

 

Halifax have offered to reduce the loan to £1,500.00 "To Put Things" right (Quote from a letter dated 3rd Jan 2013) i rejected the offer.

 

I have heard nothing from them since, even though I have written to the same person,

who did not reply, his letter did state " IN FINAL RESPONSE" in the same manner

"Without Prejudice" is written Bold Capitals on the first page.

 

I have had ONE demanding letter from MARLIN 9th Jan 2014 who informed me the debt had been sold to them!!

 

 

I replied enclosing a detailed account of the facts in held.. I've heard nothing from them since.

Every letter I send is recorded.

 

I have just finished a phone call to St Andrew Insurance Customer services I have been informed

 

1. They now do not need my authority to issue a refund..

 

2. They now consider the part of the complaint closed

 

3. My issue/complaint is with Halifax, who sold the loan and PPI incorrectly

 

The adviser has just said I quote

" Best you just cash the cheque and make a payment to Marlin" what I joker..

[BankFodder]

I don't altogether understand all the maths of it.

I understand that you had a loan and that it was protected by a PPI insurance - correct?

They have now refunded you your PPI premiums in a cheque which you have not yet accepted - correct?

If the PPI had been honoured then you would have been able to pay off the entire loan - correct?

 

Please can you set it out for me carefully and chonologically.

 

Also, it will be helpful if you will stick to this thread, not keep on starting others and if you would stay with us until a resolution has been achieved instead of disappearing for several months or more at a time. All of that.

[dx100uk]

so what are marlins after please

 

 

in 2013 it was offered at £1500

 

 

and now?

 

 

the whole loan should be written off

 

 

total mis-sale from day one

 

 

the FOS would eat them for breakfast.

 

 

dx

[SteveBD]

Dear Bankfodder

Thank you for your reply,

 

 

my apologies I did not realise I was starting new threads,

I have not posted for several months as I've not heard from either Halifax Bank, Halifax Insurance,

or any Debt Collection for a year.

 

 

even though I have written to Halifax twice they have not answer,

after read info on CAG I now realise the importance of "IN FINAL RESPONSE" should have read this before

 

I have also been effected by the 2nd stroke, my brain is now like a old computer very very slow to process info

.. so please bear with me..

You are correct in all your statements..

 

Thanks again for your help