MSE News: 'I got £82,000 PPI back'

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  • sadsod
    sadsod Posts: 4 Newbie
    Yes but to get a pay out you had to wait 6 weeks before applying then fill in a form what was about 21 pages long get Your Dr to fill in another form amounting to 10 pages and by that time you deserved a medal for staying the course. Then trying to speak to them on the phone was a nightmare they were the most uncaring group of people I have ever encounterd… Next to the DSS disability helpline!
  • [Deleted User]
    [Deleted User] Posts: 26,612
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    sadsod wrote: »
    Yes but to get a pay out you had to wait 6 weeks before applying then fill in a form what was about 21 pages long get Your Dr to fill in another form amounting to 10 pages and by that time you deserved a medal for staying the course. Then trying to speak to them on the phone was a nightmare
    While all this is undoubtedly true, unfortunately it's completely irrelevant to a complaint about mis-selling.
  • tracey2412
    tracey2412 Posts: 26 Forumite
    http://www.bbc.co.uk/news/business-18554478

    This has confused me because after the Halifax fobbed me off for weeks when I asked them to tell me how they had calculated the interest (I just cdnt make it add up), I called the FSA consumer helpline (as advised by Halifax) who told me that because my loan had been taken out in 1993 the provider was not legally obliged to even consider my claim because there was no law against it then. There was some voluntary code in 2001 & some regulation in 2005, so they didnt have to consider any claim prior to that date (which date depends on whether they signed up for the voluntary code, Halifax did) & even if they did they only had to pay me interest going back to that date not the loan date.

    So I have banked the cheque they sent me though I now understand that it is deemed that I have accepted the offer. I have written to them again asking for a full calculation but not yet received a reply.

    I'm only talking about £1000 here, so not huge sums but it all helps at the moment!

    Can anyone clarify if FSA are correct here or what Halifax position is? Just trying to work out if its worth pushing for an answer or just be grateful for what I already got! Many thanks, KR.
  • [Deleted User]
    [Deleted User] Posts: 26,612
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    tracey2412 wrote: »
    Can anyone clarify if FSA are correct here or what Halifax position is? Just trying to work out if its worth pushing for an answer or just be grateful for what I already got! Many thanks, KR.
    Without seeing any figures from you, it's impossible to comment about their accuracy.
    However, many people with loans this old (19 years) have been rejected on the basis not that it is pre-regulation but that the Bank no longer have any records.
    So, on reflection, I'd say " just be grateful for what I already got" is your only option since you've already cashed the cheque!
  • I had a claim for mis-sold PPI with Barclays, which was rejected. Was really annoyed as I had been with them since 1996. Rejection was also upheld by the FOS. I reclaimed on the commission on the PPI and was awarded £4100. Apparently more than 50% of the PPI charges were for commission only. It was a nice surprise after initially thinking I would be getting nothing back.
  • [Deleted User]
    [Deleted User] Posts: 26,612
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    Holy thread revival, Batman!:eek:
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