PPI Reclaiming successes and failures

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  • dunstonh
    dunstonh Posts: 116,047
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    I'm going to use Resolver for a car loan taken out many years ago where we were advised if we took out PPI, our loan was more likely to be given. How young and naive we were, we've never taken it out since after reading they were a rip off. Recommend Resolver, also sorted out a Scottish Power problem with them and got a large refund

    Remember that car dealers are liable for sale of PPI on car loans. Resolver does not have car dealers in its list. Plus, car dealers only became regulated after January 2005. So, if the loan is before then, they do not have to consider your complaint unless the dealer was an agent of the lender.
    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.
  • I used Resolver to claim for a few loans taken out with Natwest, Lombard Direct and Nationwide and also a Credit Card with Capital One. Unfortunately none of the Banks could find any evidence of PPI sold to me. I can't remember if I paid extra for PPI either. What I find strange is that these companies offering to help with PPI claims ring you and say that you are entitled to £xxx. Where do they get this info from or is it just a made up figure?
  • dunstonh
    dunstonh Posts: 116,047
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    I used Resolver to claim for a few loans taken out with Natwest, Lombard Direct and Nationwide and also a Credit Card with Capital One. Unfortunately none of the Banks could find any evidence of PPI sold to me. I can't remember if I paid extra for PPI either. What I find strange is that these companies offering to help with PPI claims ring you and say that you are entitled to £xxx. Where do they get this info from or is it just a made up figure?

    Quite a few posts in this forum saying that the CMC said they had PPI but it turned out they didnt. The figure they say you are entitled to is completely made up.
    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.
  • Thanks for clearing that up. Just read on Resolver FAQs and they also say its made up.
  • Arfhurdaly
    Arfhurdaly Posts: 194 Forumite
    I submitted a few claims via Resolver.

    However, some creditors have said they need evidence (account numbers/statements/ppi ref no) as they have no record on file. I cant find this information, even though I believe I did pay PPI.

    Is it pointless to escalate this further? Presumably the FOS will just side with the banks, without evidence.

    Has anyone won a claim of this nature, where the bank couldnt find your details, and you had no evidence either?
  • Presumably the FOS will just side with the banks, without evidence.
    Not much they can do, they can't magic up any details for you.
    Has anyone won a claim of this nature, where the bank couldnt find your details, and you had no evidence either?

    It makes sense that you need some form of evidence, otherwise every chancer would be submitting false/ fraudulent claims.

    Do you really have no details stored away?
  • dunstonh
    dunstonh Posts: 116,047
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    However, some creditors have said they need evidence (account numbers/statements/ppi ref no) as they have no record on file. I cant find this information, even though I believe I did pay PPI.

    Your belief is not enough. Evidence is needed. Remember that over half of PPI complaints made do not even have PPI. So, they cant just believe what you say.

    Bottom line is that if they have no evidence you paid PPI and you have no evidence then its game over. If you dont believe them, then you can spend £10 and do a data subject access request.
    Has anyone won a claim of this nature

    One that is based on belief rather than fact?
    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.
  • Arfhurdaly
    Arfhurdaly Posts: 194 Forumite

    Do you really have no details stored away?

    Unfortunately, i lost the statements from a house move. Not much i can do I think. Nevermind.
  • -taff
    -taff Posts: 14,423
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    Arfhurdaly wrote: »
    I submitted a few claims via Resolver.

    However, some creditors have said they need evidence (account numbers/statements/ppi ref no) as they have no record on file. I cant find this information, even though I believe I did pay PPI.

    Is it pointless to escalate this further? Presumably the FOS will just side with the banks, without evidence.

    Has anyone won a claim of this nature, where the bank couldnt find your details, and you had no evidence either?

    Your only other avenue if you don't believe them is to send a SAR and £10 to see what's left.

    The FOS will judge inpartially [ usully more towards the consumer] but if there are no details, there are no details.
    Shampoo? No thanks, I'll have real poo...
  • I took out loans back in 1999 with Natwest Bank, initially to buy my first car, but then consolidated loans over time to cover CC Debt and Overdrafts. Over a few years the Debt amounted to nearly £20,000.
    At every new loan/consolidation Natwest would give me a refund for the previous PPI on the loan, which at the time felt like an incentive to borrow more.
    In the end i defaulted on the loans and ended up dealing with a DCA.
    Last year i approached a PPI reclaim firm, filled out all the forms, and then was informed that they would take 40% of whatever i was awarded, furthermore, any outstanding debt would be taken from the compensation, and i would still owe them 40% of the total, which potentially leave me in debt to the Reclaim company. Knowing I was still paying the DCA, i stopped the process immediately.
    4 weeks ago, started the process again, using the Resolver tool on here, I had no account numbers, and only a rough idea of when the loans were taken out. Within a week i received 6 text messages from RBS (6 different account numbers) informing me that they were looking into my complaint. A further 2 weeks in and I received another six messages informing me that they would write to me informing me of their findings.
    Last week I paid into my bank 6 cheques amounting to £14,013.
    Had i continued with the claims company, i would have nearly half that amount.
    If you are thinking about reclaiming i cannot recommend enough, the advice on this site, whether you use the Resolver tool or write to the bank independently, get it done now while the window of opportunity is still open. My claims were from 18 years ago, so its worth pursuing even if its an old account/debt/credit card etc.
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