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  • FIRST POST
    Former MSE Rose
    PPI Reclaiming Discussion Part 5
    • #1
    • 28th Feb 12, 4:40 PM
    PPI Reclaiming Discussion Part 5 28th Feb 12 at 4:40 PM



    Hi all, this thread is for discussing the
    PPI Reclaiming
    article.

    This is Part 5 of the discussion, as the last one was so long (read parts one, two, three and four). To discuss or ask a question about this article, click 'post reply'.

    To read about non FOS claims read this thread.
    Report and read success stories in this thread
    .

    Please remember:

    We're often quite laid back about discussion threads as this is a community after all.

    I'm afraid in the case of the PPI Reclaiming thread we're really going to have to ask you to keep the discussion on topic though, so that people can find the relevant information quickly and easily.

    If you do start making like-minded friends on here and would like to carry on chatting about what you did at the weekend/what you ate for dinner etc, that's fine, but the best way to do that is to go to our local pub the MoneySavers Arms where anything and everything is chatted about, start a thread there, then pop a link in here and suggest you all head over to there to chat.

    Thanks,

    MSE Rose
Page 495
    • dal741
    • By dal741 6th Sep 17, 1:14 PM
    • 1 Posts
    • 0 Thanks
    dal741
    HI, attempting to start my own PPI claim. Over the years have had many loans, credit cards etc but have no specific records of them. I joined the MSE Credit Club as suggested but my credit report only seems to state the current companies I have loans etc with. It does give the number of previous companies in past I have had agreements' with but not the specifics. Am I missing something here in regards to the report, and if not how can I find this information out. Thanks
    • dunstonh
    • By dunstonh 6th Sep 17, 1:21 PM
    • 89,464 Posts
    • 54,934 Thanks
    dunstonh
    HI, attempting to start my own PPI claim. Over the years have had many loans, credit cards etc but have no specific records of them. I joined the MSE Credit Club as suggested but my credit report only seems to state the current companies I have loans etc with. It does give the number of previous companies in past I have had agreements' with but not the specifics. Am I missing something here in regards to the report, and if not how can I find this information out. Thanks
    Originally posted by dal741
    Credit reports only have a running 6 years of detail.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • blue70
    • By blue70 6th Sep 17, 4:42 PM
    • 55 Posts
    • 15 Thanks
    blue70
    Is a Reclaim Possible for this?
    Just after some advice from the collective wisdom of the group

    My mother in law sadly passed away in 2012. She had a fair number of credit cards, store cards, loans etc and would have been a perfect candidate for PPI because she probably would have swallowed all the sales patter. Unfortunately my father in law believes that he has thrown out most if not all of her old financial records.

    In the event that we can't find any paperwork I know that some of her records would be preserved on her credit record (Previous 6 years will obviously cover 2011 when she was still alive) but as she is deceased does it still exist and how can it be accessed?

    If we can discover the actual financial companies that she used them I'm guessing that we can submit a claim on behalf of her estate?

    Probably an unusual request I know but if anyone has any advice or guidance I would be grateful.
    • dunstonh
    • By dunstonh 6th Sep 17, 5:27 PM
    • 89,464 Posts
    • 54,934 Thanks
    dunstonh
    but as she is deceased does it still exist and how can it be accessed?
    The executor of the estate can make a request to their chosen credit file provider. They will usually request evidence that the person has the legal right to request the info.


    If we can discover the actual financial companies that she used them I'm guessing that we can submit a claim on behalf of her estate?
    The credit report will tell you what credit there was in the last 6 years. It wont tell you if there was PPI or not or whether that PPI was missold or not.

    Once you know the companies, then the executor can find out from those companies if it was missold. Then a complaint can be made. However, do be aware that you cant use allegations of what may or may not have been said with a deceased person. The legal representative has no right or basis to make such allegations.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • blue70
    • By blue70 6th Sep 17, 5:33 PM
    • 55 Posts
    • 15 Thanks
    blue70
    Thanks Dunstonh very much appreciated.

    I understand that I can't make assumptions Re what may or may not have been said when PPI was sold however I read an MSE email today about the Plevin stated case which seems to be weighted fairly heavily in favour of anyone who actually purchased PPI? It appears to suggest that there is now an assumption that whether or not it was mis-sold it was 'unfair' because of the level of commission that was being claimed?

    Please correct me if I have misinterpreted that.
    On track to being Mortgage free by 2017
    • Armadillo52
    • By Armadillo52 7th Sep 17, 9:01 AM
    • 1 Posts
    • 0 Thanks
    Armadillo52
    PPI retrospective claims
    Hi,
    This is my first post so please forgive me if I'm in the wrong place.

    I have 9 claims going which I have made through resolver, thanks to MSE site. What I'm not sure of is this: I have had an account with Lloyds for over 35 years and also had an account with Barclays when I was very young as well. I still have an account with Lloyds and I've made a claim using my current bank details, but how do I get them to 'go back into time' and find out if I have a retrospective claim or claims?

    Thanks for any help with this.
    • zx81
    • By zx81 7th Sep 17, 9:21 AM
    • 13,165 Posts
    • 13,480 Thanks
    zx81
    You ask them. They either have the details or they don't.
    • dunstonh
    • By dunstonh 7th Sep 17, 9:29 AM
    • 89,464 Posts
    • 54,934 Thanks
    dunstonh
    I have 9 claims going which I have made through resolver, thanks to MSE site. What I'm not sure of is this: I have had an account with Lloyds for over 35 years and also had an account with Barclays when I was very young as well. I still have an account with Lloyds and I've made a claim using my current bank details, but how do I get them to 'go back into time' and find out if I have a retrospective claim or claims?
    It is unusual for bank accounts to have PPI on them. There were some banks that did it but it was not a widespread action. Are you sure you had PPI on those?

    If you cannot remember then you ask them. Both banks have a PPI line published on their websites. So, just phone them up and ask them if you had PPI. if you did, they will usually take your complaint over the phone too.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • deadrobot
    • By deadrobot 7th Sep 17, 10:28 AM
    • 244 Posts
    • 154 Thanks
    deadrobot
    You're sort of describing two separate things as one there. My own mortgage protection has three elements; life insurance, critical illness insurance and payment protection insurance. I think most mortgage insurance packages take much the same form - or you can take certain elements of those.

    The life and critical illness cover are on one policy - and these pay off the mortgage completely (different types here too - either the amount you originally borrowed, or the amount you still owe) if the named party either dies or suffers one of their qualifying critical illnesses.

    The third part is payment protection (i.e. PPI) and this covers your monthly repayments for a limited period (usually 12 months) if you're poorly and can't work or lose your job - again, with various qualifying criteria. So, as such PPI isn't life insurance - they're different things. If you had life insurance, you couldn't make a complaint, but might be able to with PPI, if that was what you had and it was miss-sold.
    Originally posted by BooJewels
    Thanks so much, you helped explain what I tried to badly! It was the third part, the payment protection. I definitely remember the broker saying it was cover to pay my mortgage in case I lost my job or got ill.

    Sorry for the daft question but would I have paid this to the life insurance company? I don't think I paid it to the mortgage company. And I don't know who the life insurance company was as I don't have any documents. I must have binned them after I cancelled the policy. So is it just tough, or is there any way to find out who I put in a claim to?

    The reason I might be due something is that I worked for the NHS and I believe they wouldn't have paid out if I had gotten ill as I would have been on full pay benefits via my job. A few colleagues at my work have had successful claims as they are NHS workers.

    Thank you for your helpful replies!
    • Moneyineptitude
    • By Moneyineptitude 7th Sep 17, 10:35 AM
    • 19,263 Posts
    • 9,372 Thanks
    Moneyineptitude
    I'm still doubting that you have Mortgage Payment Protection Insurance (MPPI)...
    • deadrobot
    • By deadrobot 7th Sep 17, 11:05 AM
    • 244 Posts
    • 154 Thanks
    deadrobot
    I'm still doubting that you have Mortgage Payment Protection Insurance (MPPI)...
    Originally posted by Moneyineptitude
    Hmm, maybe it was PPI to cover the life insurance. Would that make more sense?
    Sorry, I'm a bit clueless with it all!
    • Moneyineptitude
    • By Moneyineptitude 7th Sep 17, 11:37 AM
    • 19,263 Posts
    • 9,372 Thanks
    Moneyineptitude
    Personally, I think what you had was Life and Critical Illness cover, but if you've lost all documentation pertaining to the alleged policy you won't be able to complain anyhow.

    Life Insurance policies don't have PPI added to them.

    You need to understand that not all insurance is PPI and not all PPI was mis-sold.
    • BooJewels
    • By BooJewels 7th Sep 17, 1:21 PM
    • 28 Posts
    • 9 Thanks
    BooJewels
    It was the third part, the payment protection. I definitely remember the broker saying it was cover to pay my mortgage in case I lost my job or got ill.
    Originally posted by deadrobot
    I don't know if you're still a little confused or maybe we have different understanding of what the words 'pay my mortgage' means.

    PPI is to cover your monthly repayments only - and only when you met certain qualifying criteria and usually only for a fixed period of time - ours is for 12 months and pays 133% of the mortgage repayment each month. So if, for arguments sake, our mortgage repayments are £500 - we'd get £665 paid into our bank account each month, for 12 months - total maximum value of a claim = £7980.

    However, for critical illness or death of my husband (I'm not named on the policy as I didn't qualify for cover) - the entire value of the mortgage sum borrowed at the time the policy commenced would be paid - tens of thousands of pounds - hence it would 'pay our mortgage' completely, not just the monthly repayments.
    • dunstonh
    • By dunstonh 7th Sep 17, 3:00 PM
    • 89,464 Posts
    • 54,934 Thanks
    dunstonh
    The reason I might be due something is that I worked for the NHS and I believe they wouldn't have paid out if I had gotten ill as I would have been on full pay benefits via my job. A few colleagues at my work have had successful claims as they are NHS workers.
    That is a good reason for loan and credit card PPI. However, it is not a good reason for MPPI. Mortgages are long term secured debts with lifestyle changing consequences if it goes unpaid. Protecting it is considered common sense. MPPI pays out in addition to the NHS sick pay. The FOS have been rejecting complaints on that basis. So, it is not a valid reason in this case.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • youth leader
    • By youth leader 7th Sep 17, 11:22 PM
    • 355 Posts
    • 422 Thanks
    youth leader
    A thank you from me.

    HSBC have just offered to pay my late husband and I for PPI we had on a 'home improvement' loan in 1995.
    £216 saved 24 October 2014
    • Rose from Bristol
    • By Rose from Bristol 13th Sep 17, 8:44 PM
    • 1 Posts
    • 0 Thanks
    Rose from Bristol
    How do you know if you have ever had PPI?
    • zx81
    • By zx81 13th Sep 17, 8:46 PM
    • 13,165 Posts
    • 13,480 Thanks
    zx81
    It appears on all your statements.
    • Sw46
    • By Sw46 15th Sep 17, 9:26 AM
    • 1 Posts
    • 0 Thanks
    Sw46
    Wording on claim forms
    So here we are guys restarting on this thread this post will just give you a post or two to latch on to.
    Originally posted by cappo

    Hi

    I have contacted Lloyds who have suggested I may have grounds for a claim & sent me a form to complete. My grounds for complaint is that I was unaware I had the PPI on my loans - is that 'sufficient' for the forms or does anyone have any suggested wording etc that can be used?

    Many thanks!!
    • amersall
    • By amersall 15th Sep 17, 9:36 AM
    • 16,674 Posts
    • 18,717 Thanks
    amersall
    Did you pay the insurance in with the loan monthly payment and do you have any paperwork?.

    • Mandy David
    • By Mandy David 15th Sep 17, 10:32 AM
    • 3 Posts
    • 0 Thanks
    Mandy David
    HI everyone. I got a letter from danske bank the other day saying I mite be eligible for a ppi compensation just had to complete attached form. I took a £5000 loan out in 2009 for 4 years have no idea what ppi I was paying on that loan. In 2011 I left my job and opened my own business that didn't work out so I wasn't in position to pay for good few months. Eventually my loan was sent to debt collection company and I arranged an agreement with them and had the loan eventually paid off. My question is as I have no paperwork do you think I was still paying ppi when paying off through dept col company or i was only paying what owed to the bank? Just wondering how much money I can expect from them. I think my monthly payments were around £150
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