Reclaiming PPI through a company - who's the best?

Mickeyj1107 · 26 September 2011 at 1:32AM

Oh ok thanks. Is there any letter templates that show what should be put in a complaint letter. Or should i just put what i think is right and just openly request the PPI refund.

beckydee28 · 10 November 2011 at 12:04PM

Hi just wondering if anyone could help me??.In the past ive taken out loans from alliance & leicester,santander and nationwide i also had a adams store card(sygma bank),i dont think i took out ppi but was told that sometimes its hidden?,and as for the store card the interest rate on that was through the roof (i have now paid it off,finally),am i entitled to claim anything and how would i find out?...Any help would be appreciated as i havent got a clue

!!

amersall · 10 November 2011 at 1:10PM

beckydee28 wrote: »

Hi just wondering if anyone could help me??.In the past ive taken out loans from alliance & leicester,santander and nationwide i also had a adams store card(sygma bank),i dont think i took out ppi but was told that sometimes its hidden?,and as for the store card the interest rate on that was through the roof (i have now paid it off,finally),am i entitled to claim anything and how would i find out?...Any help would be appreciated as i havent got a clue !!

Look here for reasons for mis sell

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2
If any/all apply to you then put a claim in.
You need the account numbers and send the claims to the banks concerned.
I know Santander do these over the phone.

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&cid=1210607166846&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateA2

If you had ppi on the storecard,this should show as a monthly payment on each statement.

Stevo-007 · 7 January 2012 at 11:03AM

Morning all,

This is my first post on here.

I have just been looking through my mortgage insurance details and noticed i have been paying ppi for just over 6 years. This was me and my wifes first mortgage and ppi wasnt given as an option, we were told it was compulsory. I want to write to my bank to try and claim it back but should i cancel my ppi payments first? Also if i should cancel them first should i mention anything about claiming it back to them on the phone?

Thanks

Steve

magpiecottage · 7 January 2012 at 12:30PM

Stevo-007 wrote: »

I have just been looking through my mortgage insurance details and noticed i have been paying ppi for just over 6 years. This was me and my wifes first mortgage and ppi wasnt given as an option, we were told it was compulsory.

You contradict yourself. First you tell us you have only just noticed then in the next sentence you say you were told it was compulsory over six years ago.

I can't see how they can both be true.

dunstonh · 7 January 2012 at 12:35PM

we were told it was compulsory.

What evidence do you have to support that allegation?

I want to write to my bank to try and claim it back but should i cancel my ppi payments first?

Up to you. If you dont want it then cancel it now.

Also if i should cancel them first should i mention anything about claiming it back to them on the phone?

They may put it through to the complaint dept if you do.

The issue you have is that you havent given any grounds for complaint that will be successful. An unprovable allegation is easy to reject. There has to be a something that can be seen to be wrong. That is unless it is with Halifax who are auto upholding complaints at the moment whether you have grounds or not because of their backlog. If it was via a broker or another bank then dont expect it to be successful unless there is another failing.

BFS11 · 25 January 2012 at 1:17PM

Okay another newbie - be gentle!

- I think many people might be in the same boat but here goes!

I have had many loans and credit cards in the past - usually to transfer balances and pay off debt, so I have shuffled finances around somewhat! Problem is, as the cards/ loans were paid off and then closed, I saw no reason to keep the statements anymore.
My questions are these:-

1), With no way of finding out by looking at statements if I have paid PPI on any loans or credit cards, I guess the only way to find out is to go to the company directly! I have heard however, that some companies have cottoned onto what is happening and will not give out the details (or lie or fob you off) to make you think you dont have a claim (besides - how can I prove otherwise with no paperwork?). Is there anyway I can find out for definate that they are telling the truth? and if I have paid it anywhere along the line (I certainly havent opted for it anywhere!)

2) As someone has already mentioned, without a maths degree or an accountance qualification, is there anyway of knowing roughly how much I would be entitled to if a claim was valid? For instance, I could be offered £1000 which I think is great but in truth im actually entitled to £2000!

3) I looked into using a 20% ppi claims company and was told I needed the start dates of all my loans/credit cards and their AVERAGE MONTHLY BALANCES. Im guessing this is to guage the size of a claim, but if im going to give this a crack myself -is this information I would also need? People on this forum seem set against using ppi handlers but in my case would it be worth letting someone else do the donkey work for me? After all, arent they legal experts? Im just a guy who owes some money!
Thanks for your help! - Nice to see so many getting their money back!

dunstonh · 25 January 2012 at 2:18PM

1), With no way of finding out by looking at statements if I have paid PPI on any loans or credit cards, I guess the only way to find out is to go to the company directly!

correct

I have heard however, that some companies have cottoned onto what is happening and will not give out the details (or lie or fob you off) to make you think you dont have a claim (besides - how can I prove otherwise with no paperwork?). Is there anyway I can find out for definate that they are telling the truth? and if I have paid it anywhere along the line (I certainly havent opted for it anywhere!)

Companies do not lie like that. It is possible they cannot find things on limited information or it may be that they destroy data after time (often after 6 years). However, there has been no evidence of companies telling outright lies.

As someone has already mentioned, without a maths degree or an accountance qualification, is there anyway of knowing roughly how much I would be entitled to if a claim was valid?

You dont need a maths degree. Indeed, an 8 year old could do it. It is a return of premiums paid plus 8% interest.

) I looked into using a 20% ppi claims company and was told I needed the start dates of all my loans/credit cards and their AVERAGE MONTHLY BALANCES. Im guessing this is to guage the size of a claim, but if im going to give this a crack myself -is this information I would also need?

You dont need that information.

People on this forum seem set against using ppi handlers but in my case would it be worth letting someone else do the donkey work for me?

The claims companies use the same free of charge complaints process you use. the same people look at the complaint at the bank. Claims companies ask you for the same information you need to give (or just tell outright lies on your complaint which you are liable for if the firm decides to pursue you for fraud). So, you may as well do it yourself as using a claims company effectively means they are putting a stamp on the envelope for you. That is all. Plus, there are views that claims companies have lower success rates given their heavy use of one-size-fits-all template letters and template letters do generally have a lower success rate than personalised letters.

After all, arent they legal experts?

No they are not. There is no legal qualification required to be claims agent. You yourself could be up and running as a claims companies in a couple of weeks if you wanted. No qualifications, experience or whatever. It is mainly a sales job with cold calling.

BFS11 · 25 January 2012 at 9:27PM

Thanks for the help!
I feel a bit of a nitwit really as I literally have NO paperwork from settled cards and loans - I am able to see the last 4 digits of my account numbers by looking at my credit report and start dates and that is about it! I presume if I phone up the companies, they should be able to fill in the blanks for me so I can write to request credit agreements!

One more question though - I had a Morgan Stanley credit card for a couple of years which I paid off and closed back in 2008. Im having trouble finding contact details for them here in the uk though - it looks as if they have "upped sticks" and dissapeared to new york! Is this right, or does anyone know how I can get in touch with them this side of the water!

Thanks again for the help!

Oddie · 17 February 2012 at 10:35AM

Hi :wave:

New to the forum, so please be gentle.

I've read some of the great advice already given in this thread, as well as on the main site, but am still a little confused (it doesn't take a lot!).

I'm looking into making a claim against my loan supplier.

Over the last few years I have refinanced loans with my bank, do I need to make claims against each different loan agreement, or can I make multiple claims using one PPI Consumer Questionnaire?

I have applied to Experian for my credit history, as I'm unsure of dates etc. Will the data they supply include policy numbers, or will I need to contact my bank for those details?

My Wife has a loan too, would she have to make a separate claim, even though payments for both our loans are taken from a joint bank account?

Thanks in advance for any help you can give me.

Reclaiming PPI through a company - who's the best?

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