PPI help!! i am stuck.

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priorsfarm
priorsfarm Posts: 3 Newbie
in Reclaim PPI & other insurance
Hi, I want to do the PPI reclaim myself using the MSE website and reclaim template rather than pay a company. I am a bit confused about how to do this - I have got my credit report with lists of companies that I have credit cards with and I have a mortgage and a loan. I have account numbers for most of them but not all and I do not have any paperwork.
I THINK I need to use the letter templates to ask them for the T & C's? or can I go ahead to the reclaim button. Just a bit unclear.
I'm unaware of any PPI's and at the time the option was obviously not explained.
Could anyone direct me please?

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  • dunstonh
    dunstonh Posts: 116,373 Forumite
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    I THINK I need to use the letter templates to ask them for the T & C's?

    You dont need to ask for T&Cs. That is a myth. Indeed, many T&Cs would be totally useless to you (e.g. mortgages where MPPI would be a standalone product and not appear anywhere on the contract).
    or can I go ahead to the reclaim button.

    Your complaint should be personalised and with reasons why. Template complaints have a lower success rate than personalised complaints.
    I'm unaware of any PPI's and at the time the option was obviously not explained.

    If you dont have PPI then it would not be explained. Do you actually have PPI?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • priorsfarm
    priorsfarm Posts: 3 Newbie
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    Hi, No I am unaware as to if I have any PPI. All I know is I have credit cards, a loan and a mortgage. Some credit cards are old and closed (3) some are open.(6)
  • enjoyyourshoes
    enjoyyourshoes Posts: 1,093 Forumite
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    Ensure you explain in letter that you did not require PPI (had full time job or enoigh £ to pay for the CC )

    Explain that you were not informed of PPI &/or it was not discussed &/or you were pressurised in taking the PPI (often with store cards the staff said it was condition or would not be accepted if no PPI)

    If retailer is drawing heels over valid case find out who the insurer was and go straight to them.

    I did this with Santander/Dot Perkins and they paid up after twice refusing.
    Debt is a symptom, solve the problem.
  • dunstonh
    dunstonh Posts: 116,373 Forumite
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    priorsfarm wrote: »
    Hi, No I am unaware as to if I have any PPI. All I know is I have credit cards, a loan and a mortgage. Some credit cards are old and closed (3) some are open.(6)

    The open ones are easy. You get a statement each month. If you are paying PPI then it appears on the statements.

    The mortgage is easy. The vast majority of MPPI is paid by standalone monthly direct debit. So, are you paying a direct debit for MPPI?

    The closed ones you just ask them if you had PPI.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • priorsfarm
    priorsfarm Posts: 3 Newbie
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    I'm still confused as you are all saying different things. Following the MSE step by step transaction it says you need to check if you've had PPI by asking for the T & C's with a cheque for either £1 or £10.
    What happens next?? I think I'm going to go with ppi reclaim as I'm too confused about what to do..
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    priorsfarm wrote: »
    I'm still confused as you are all saying different things.
    You've had responses from only two people. They are not saying different things.

    You don't need to follow the MSE advice article slavishly and for all of the open finance it will be a simple matter of asking whether there is PPI attached. You can also check your credit card statements and monthly Direct Debits, as "dunstonh" says. You certainly won't need to pay £1 for an Agreement which is not even guaranteed to show PPI as you could have bought it later.

    The post from "enjoyyourshoes" is pre-emptively telling you how to complain if you establish that you did have PPI. He is not telling you anything different.

    So, in the first instance, approach your lenders by telephone or post and ask if you had or have PPI. No need for any confusion.

    Any Complaint Management Company will take a huge proportion of any redress you might win. So don't do it.
  • dunstonh
    dunstonh Posts: 116,373 Forumite
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    Following the MSE step by step transaction it says you need to check if you've had PPI by asking for the T & C's with a cheque for either £1 or £10.

    MSE is wrong. You only have to do that if you don't have any details whatsoever and don't want to phone them up and ask them. Even then it is not a foolproof method as many types of PPI was sold after the agreement. For example, most credit card PPI was sold on the phone after the account was set up. So, that wouldn't appear on the T&C. Most MPPI is standalone and not bundled in the mortgage. So, again, that would not appear on the mortgage T&C.

    With open accounts, you get statements. So, you can see whether you are paying it or not. So, why waste money finding out when you can just look at your statement?
    I think I'm going to go with ppi reclaim as I'm too confused about what to do..

    Don't do that. it is not confusing. Look at your statements on your open accounts. If you see PPI being paid, you have it. If you don't see it then you do not have it. You can ignore the ones that don't have it. You cannot complain about being missold PPI when you are not actually paying it.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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