I would have wanted to have the Bank discuss the situation and certainly not loose all the money I had paid into the policies ,(approx total amount contributed was £19,500).
Why were they cancelled? Were the premiums all paid?
Why now if they were cancelled in 2008?
All premiums were paid for 3 years with great diffculty on my part. The Bank cancelled them and left me with no mortgage protection cover.
I have discussed this over the years, many times, with different officials of the bank , and to-day received a hamper with a note of apology. Does that say anything?
It tells me that they aresquirming a bit.
Are you telling me that allthe premiums were completely up to date and for no reason whatsoever, and theywill not give a reason, they have simply cancel the policies?
I still need to know what hashappened between 2008 and now.
Have you been writing to thebank or trying to deal with this over the telephone?
Does the letter say more thanwe are sorry?
I am struggling for backgroundinformation here
I do have a letter which I sent to one of the officials of the bank - is there any way we could speak over the telephone. My number is XXXXX 734300.
Thank you for your help.
We are not allowed to have contact outside the site, sorry.
Can you send me the letter?
Yes I'll send you a copy - please would you let me have an address.
me and Uk law
It can take 24hrs to arrive
I don't have a scanner - how can I get the correspondence to you?
. The site is hosted in San Francisco and I live inCheshire
If you just let me have the background details as to whythey cancel the if you give me the background detail surrounding thecancellation, and what is being said in brief, I can give you an answer
To be perfectly honest I cannot remember all the details back to 2008 but did realise that £500 was not coming out of my account monthly. Whatever my bank manager said I did and trusted him to my detriment. Finance has never been a strong point of mine. A good dental surgeon I am but not a business man!!
Very useful, having a friend who is a dentist. One of myfriends was a dentist so he did my teeth and I did his legal work. I knew allabout buckles occlusals and distals and palatials. (Have I got that right.Still?). He has had to retire sadly through ill-health.
Assuming that the bank for some reason known only to themsimply stop paying the direct debit, when there was money in there to pay it,and you queried it, and the bank manager passage you on the head beatificallyand said it will be okay, don't worry, and it wasn't okay and you should haveworried than I think you have a claim.
I assume you have signed nothing accepting anything.
You are going to need to get together all the dates andinformation, bank statements, letters, et cetera et cetera the whole lotsurrounding the details of what happened and when. You then need to write tothe bank's complaints department expressing your disappointment and holdingthem liable.
Tell them that unless they resolve this to yoursatisfaction, you will have no alternative but to refer the matter to theFinancial Ombudsman. To be frank, after all this time, I would simply refer itto the financial ombudsman at the same time as you write to the complaintsdepartment. Technically, you are supposed to wait until you have exhausted thebank's own internal complaints procedure, but to be frank, I can see no pointin messing around any longer.
Your loss equates to whatever benefits you would have gotunder the policy. The bank have the ability to reinstate the benefits or payyou compensation or do whatever they think.
I was in life-insurance before I joined the legalprofession. Some years ago, one of the major high street banks did a similarthing that happened to you to a life-insurance client. In that case, they tookthe money from the client's bank, but didn't pay it to the insurance company.It was hanging around in the ether somewhere. The insurance company was underno liability whatsoever because they had received no premiums and had,understandably, cancelled the policy.
Unfortunately for the bank, three months after the policyhad been cancelled with the bank still taking the premiums out, thepolicyholder died. It cost the bank £50,000.
Do make sure when you write to the Financial Ombudsmanthat you will lay out what has happened in detail and enclose anycorrespondence. The Ombudsman will also request the file from the bank.
I can tell you that the ombudsman will find in yourfavour if there is any element of doubt, but it is likely to take at least 12months to resolve.
can I help further?
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Firstly all the names you mentioned were correct ...well done.
You have really given me a job now to get all the information together, however I will do my best.
I am now 75 work only one day a week and the compensation would be extremely welcome and useful.
Look forward to hearing from you soon.
The most important thing is to put all the informationtogether in a structured format which I am sure you, is a clever, intelligentperson will be able to do.
Doublespaced the document and number, each paragraph
I would also have a timeline chronology of what happenedwhen.
Attach the above to a one-page letter and send that asyour complaint. Much easier to follow
Can I help further?
Thank you ........I will make contact in the next few days.