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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 472
    • grahamm123
    • By grahamm123 20th Mar 17, 3:14 PM
    • 5 Posts
    • 0 Thanks
    grahamm123
    Thanks for your reply. I haven't gone down that route to ask them for a breakdown. The letter from them is for me to accept the amount, or not, as I am thinking of doing. Unfortunately, as this is such a long time ago, I have no record of whether I did cancel very early into the mortgage. I will take your advice and ask the question. Do you have any idea about how the banks came to have much to charge for the PPI on a mortgage please?
    • Moneyineptitude
    • By Moneyineptitude 20th Mar 17, 3:23 PM
    • 18,507 Posts
    • 8,733 Thanks
    Moneyineptitude
    How much they might have charged is irrelevant. You will only ever receive a a refund of the amount you actually paid.

    Ask the question of how much you paid...
    • mrpipps
    • By mrpipps 20th Mar 17, 3:56 PM
    • 3 Posts
    • 1 Thanks
    mrpipps
    ppi given and then taken away again
    hi to everyone,
    i'm new to the site and just want to know if anyone can help me with information.
    i was awarded 10,700 ppi fees by the bank for the period 1998 to 2002 today,but because i went bankrupt in approx 2008 6 years later they've paid it directly to the official receiver.
    my bankruptcy was discharged after 1 year.
    what i cant understand is they owed me ppi for the period 6 years before i went bankrupt and if they had not charged me 10,000 ppi without my knowledge i woud'nt have had to go bankrupt or if i'd have had my 10.000 back sooner i could have used it to pay my loans and avoided bankrupcy?
    does anyone have any advice that could help me get my ppi funds back or know of anything i can do,because i feel i'm being cheated,how can i owe money 6 years before i went bankrupt? regards jeanette
    • Moneyineptitude
    • By Moneyineptitude 20th Mar 17, 4:07 PM
    • 18,507 Posts
    • 8,733 Thanks
    Moneyineptitude
    Bankrupts cannot ever make PPI complaints and receive anything personally. Redress from PPI complaints is treated as a pre-bankruptcy asset and belongs to the Official Receiver who will use it for redistribution to your former creditors.

    This remains the situation how ever long ago you were discharged.

    Sorry.

    Full details here;
    http://forums.moneysavingexpert.com/showthread.php?t=3766585

    Duplicate thread posted here;
    http://forums.moneysavingexpert.com/showthread.php?t=5621055
    Last edited by Moneyineptitude; 20-03-2017 at 5:26 PM.
    • cornishmum
    • By cornishmum 21st Mar 17, 8:18 PM
    • 24 Posts
    • 11 Thanks
    cornishmum
    Hello,
    Success! Got a letter today from Bank of Scotland who are offering me 3155 for a loan that I took out in 1999 to buy a car. The loan was for 7000 (I think!) and was through Capital Bank, but Bank of Scotland have taken on their historical debts/customers. The actual PPI is 970 and over 2000 is interest.


    Very very happy!
    I used the template on the Bank of Scotland website.


    Thanks and good luck all.
    • newbs68
    • By newbs68 22nd Mar 17, 11:46 AM
    • 15 Posts
    • 16 Thanks
    newbs68
    Cornish Mum....well done but just like me be aware IF you happen to claim any tax credits you must declare the interest part because it counts as income.

    My part of my claim amounts to just over 5K which will make me seriously overpaid for this tax credit claim and they will want some money back. Sadly no getting away from it.

    Bittersweet victory.
    • Cragvo
    • By Cragvo 23rd Mar 17, 3:44 PM
    • 1 Posts
    • 0 Thanks
    Cragvo
    Hi called Santander today about poi miss sold on a Alliance and Leicester loan from 2004.... response was that they had no record of loan but then asked me to do a ppi questinare and stated they would contact me in 5 days. Just wondering if anyone has had similar and what you make of this? Cheers.
    • Moneyineptitude
    • By Moneyineptitude 23rd Mar 17, 6:28 PM
    • 18,507 Posts
    • 8,733 Thanks
    Moneyineptitude
    Hi called Santander today about poi miss sold on a Alliance and Leicester loan from 2004.... response was that they had no record of loan but then asked me to do a ppi questinare and stated they would contact me in 5 days. Just wondering if anyone has had similar and what you make of this? Cheers.
    Originally posted by Cragvo
    I wouldn't get your hopes up too much. They will investigate further than frontline staff in a call centre can do, but if there are no records of your finance they will simply reply back to confirm in writing what you've already been told on the 'phone.
    • Sarahj67
    • By Sarahj67 23rd Mar 17, 8:46 PM
    • 2 Posts
    • 0 Thanks
    Sarahj67
    Mbna reject.. time limit and then Plevin v Paragon?
    Hello.. new to forum..hope to find some help

    I was helping my father send off a claim for some ppi he knew he had paid on some loans years ago with Barclays/Lomabard. And I thought while I was using the MSE fab easy tools I would throw in a claim for me re a Virgin card, I recalled that there was an occasion a few years ago when I noted on a card that there was ppi or they had written to me about it and I had cancelled it and complained it was put on there without my knowledge.

    Anyway.. MBNA have written to me and said that I had a credit card account and were looking into my claim.
    I've received a letter today where they are rejecting my claim because of the 6 year rule. They inform me that I opened the CC account in dec 2002 and then purchased ppi in a phonecall to them in Jan 2003! No way.. I have never ever agreed to ppi. I remember a very pushy saleswomen who kept me on the phone once when I was applying for a loan and she was giving me the major hard sell re ppi - saying that if I could imagine I was diagnosed with the big C next month how would my family cope etc, she was hideous, but to be honest I thought that was about an RBS loan, and no, I still didnt agree to ppi.
    Then they are saying the ppi was cancelled by myself in March 2008!! I have absolutely no recollection of this at all!
    I am thinking when they say cancelled it do they mean I closed the credit card? If that is what they mean then yes, that was likely as I dont like to keep cards open for too long (dont know why I just dont)
    Then they are saying they conclude I should have reasonably known I had cause for complaint more than 3 years ago. Well, I genuinely had no idea of the ppi agreement or that it was on that card- if they are talking about the virgin card I thought I noticed it a month, max two months in. I always used to set up a direct debit to pay the minimum repayment and that was it.
    Then they are saying that as part of my complaint they have taken steps to ensure the "policy is cancelled and to please note I am no longer covered by the policy" What does this mean? That the policy was still open?

    Further on they say this is not their final response as I may be entiteld to compensation as my claim may be affected by the Plevin v Paragon court case and they will write to me in a couple of months time to let me know.

    What does this mean? Im so confused sorry for the super long post too :/
    • Moneyineptitude
    • By Moneyineptitude 23rd Mar 17, 9:01 PM
    • 18,507 Posts
    • 8,733 Thanks
    Moneyineptitude
    If you feel that you were unfairly rejected, you have six months refer your complaint to the Ombudsman.

    The Plevin ruling may (or may not) lead to some minor redress based on commission which may (or may not) have been paid. A forum search will yield more information, but don't hold your breath for a major windfall...
    • Sarahj67
    • By Sarahj67 23rd Mar 17, 9:09 PM
    • 2 Posts
    • 0 Thanks
    Sarahj67
    Thank you for replying..

    They are saying that I can refer to FOS now or wait for a few months when they write to me with their final decision?
    I wasn't expecting anything at all (as I thought I had spotted and cancelled a ppi on my virgin card very soon) least of all a big old windfall, but I'm unhappy that they are telling me that there was ppi on the card for a long time when I for sure was not aware of it.

    Should I refer to FOS now or wait, what do you think?
    • thechud
    • By thechud 25th Mar 17, 2:51 PM
    • 2 Posts
    • 1 Thanks
    thechud
    can i still claim ppi ?
    i had a credit card with Barclays 20yrs ago . I didn't know I had ppi on it until about 8 yrs ago so after finding out I cancelled it 8 yrs ago. I still have card but no paperwork as I said previously it was 20 yrs . can I still claim ? any help or advice would be much appreciated
    • amersall
    • By amersall 25th Mar 17, 4:45 PM
    • 16,589 Posts
    • 18,634 Thanks
    amersall
    If the card is still being used and you have reasons for mis sell, contact them.
    You only need the account number from a statement.

    • -taff
    • By -taff 26th Mar 17, 6:35 PM
    • 7,055 Posts
    • 4,472 Thanks
    -taff
    It may be timebarred as you knew about it more than 6 years ago
    • maltodextrin
    • By maltodextrin 27th Mar 17, 11:23 AM
    • 3 Posts
    • 0 Thanks
    maltodextrin
    I've put a claim in to HFC using resolver, and provided all the information required.

    I've had a letter back saying that they can find no record, but could I fill in the attached form and they will look into it. The form appears to ask exactly the same questions that I've already answered on my original submission.

    Can they ask me to do this again? Can I not refer them back to my original application?

    I have the original loan documents, can I send scans as 'proof''?
    • Moneyineptitude
    • By Moneyineptitude 27th Mar 17, 11:58 AM
    • 18,507 Posts
    • 8,733 Thanks
    Moneyineptitude

    Can they ask me to do this again? Can I not refer them back to my original application?
    Originally posted by maltodextrin
    I'd do whatever the Bank request if I were you.

    In addition, by all means send scans of the loan agreement but you'll also need statements showing you actually paid PPI on the loan and didn't cancel it.

    Did you put the account number on your original complaint submission?
    • maltodextrin
    • By maltodextrin 27th Mar 17, 12:43 PM
    • 3 Posts
    • 0 Thanks
    maltodextrin
    Did you put the account number on your original complaint submission?
    Originally posted by Moneyineptitude
    Numbers, dates, names where I had them.

    I'm just concerned that they're stalling to see if I give up. It's a long handwritten form that will give them nothing they don't already have. Seems a bit cheeky.
    • Moneyineptitude
    • By Moneyineptitude 27th Mar 17, 1:33 PM
    • 18,507 Posts
    • 8,733 Thanks
    Moneyineptitude
    I'm just concerned that they're stalling to see if I give up. It's a long handwritten form that will give them nothing they don't already have. Seems a bit cheeky.
    Originally posted by maltodextrin
    They simply want you to use their forms. Why did you use Resolver in the first place? That's just an unnecessary third party involvement which many have also found frustrating.

    They are not "stalling".

    What you have to be concerned about is that they no longer have records of this finance. As I said, you won't just need the original Agreement but also proof that you actually paid the PPI on the loan. For all they know, you could have cancelled the PPI during the cooling off period..
    • 4N4LOG
    • By 4N4LOG 29th Mar 17, 2:02 PM
    • 1 Posts
    • 0 Thanks
    4N4LOG
    Hi


    Im sure my subject has been covered somewhere - but I cannot find it


    25 years ago we bought a house, using a Building Society to fund it. The loan included an ENDOWMENT Policy with joinmt life cover.


    I paid into a good pension scheme with great cover and if I was injured at work or died as a result of working, my pension would be sufficient to pay all our bills and if necessary the entire mortgage upon death.


    The mortgage broker was quite insistent that 'crtical illness cover' was a 'must' in my job, irrespective of my pension contributions - and should be provided by the company providing the Endowment product.


    Being young and naive, we thought it sounded convincing and paid for cover (just me for illness)
    We have no idea how much extra we paid on top of the endowment - we have all of the paperwork relating to this and there is no breakdown of cost!


    It transpires that I was injured at work and had to be medically retired - 12 years ago. My pension did cover my mortgage and everything else, (as my wife works anyway, contributing to the bills etc.)


    I did not claim on the Endowment Policy as my pension carried on paying my monthly salary and continues to do so, so it was forgotten about until recently.


    Therefore, our initial reservations were proven correct and the Endowment Policy with critical ilness cover was redundant and has been continually paid (along with the Endowment Fee) for no reason.
    I remain retired and so it would not have been valid to claim.


    The Endowment matured in January of this year (2017) with the predicted 14,000 shortfall, but we had provision set aside to cover this.


    My questions are:


    Am I entitled to make a claim for being mis sold the product?


    Who do I make the claim against? (the Broker, the Building Society or the Endowment Company)


    We feel we were mis-sold the PPi as it would have been pretty obvious to the Broker and the Endowment Company at the time, that my Pension Scheme is held within high regard as being safe and would pay out in the correct circumstances.


    The broker was used on the advice of my Union (Federation) and the main advisor whom signed us up was a retired employee of the organization I was employed by - so knew the ins and outs in detail of my pension scheme.


    The other issues are that the Endowment Company has changed names and addresses over the years, being taken over.


    The Financial Management company (broker) has ceased trading.


    And we switched mortgage lenders during the term - which was paid off before the 25 year term.


    Do we have a claim? and would this affect any potential claim?


    Apologies if someone has inquired into this subject previously.
    • antrobus
    • By antrobus 29th Mar 17, 2:38 PM
    • 14,651 Posts
    • 20,738 Thanks
    antrobus
    ...
    My questions are:
    Am I entitled to make a claim for being mis sold the product?
    Originally posted by 4N4LOG
    Of course. You can complain about anything.

    ...
    Who do I make the claim against? (the Broker, the Building Society or the Endowment Company)..
    Originally posted by 4N4LOG
    The broker.

    .....We feel we were mis-sold the PPi as it would have been pretty obvious to the Broker and the Endowment Company at the time, that my Pension Scheme is held within high regard as being safe and would pay out in the correct circumstances...
    Originally posted by 4N4LOG
    What PPI? You were sold an endowment policy with (presumably) critical illness cover. That is not PPI.

    An endowment policy is a life assurance contract. Normally a claim only arises if you die. Or are (possibly) diagnosed with a critical illness.
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