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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 478
    • Lilbobz
    • By Lilbobz 22nd May 17, 10:15 PM
    • 1 Posts
    • 0 Thanks
    Lilbobz
    HSBC have upheld my complaint for credit card PPI. I had the card until 2012 but they are only refunding the PPI up to 2006. They said that's when the PPI stopped.

    I find that odd, because if they wrote to me in 2006 to tell me the PPI was stopping then surely they could argue now that I knew about it at that time (my complaint is based around not knowing I had it)?

    I phoned them and they have told me that the PPI was stopped for all cards in 2006, not just mine. But in their letter to me they enclosed a page showing the PPI premium rates which goes right up to the present date.

    I'd be surprised if the PPI wasn't still going in 2012. Is it possible they are just trying to lowball me with their offer in the hope I'll accept?

    Thanks for any help/advice.
    • Moneyineptitude
    • By Moneyineptitude 22nd May 17, 10:54 PM
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    Moneyineptitude
    I'd be surprised if the PPI wasn't still going in 2012
    Originally posted by Lilbobz
    HSBC no longer retailed PPI in 2012, stopping some years earlier, I'm afraid.

    Why would they lie to you when even a simple Google search will provide such detail?

    https://www.hsbc.co.uk/1/2/contact-and-support/feedback-and-complaints/payment-protection-insurance
    "HSBC stopped selling Payment Protection Insurance in its branches in December 2007 and throughout the rest of its business during 2008"
    by HSBC
    • dunstonh
    • By dunstonh 22nd May 17, 11:24 PM
    • 88,375 Posts
    • 53,591 Thanks
    dunstonh
    I find that odd, because if they wrote to me in 2006 to tell me the PPI was stopping then surely they could argue now that I knew about it at that time (my complaint is based around not knowing I had it)?
    PPI has a specific time bar requirement. So, they cant use that as a trigger
    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.
    • Moneyineptitude
    • By Moneyineptitude 22nd May 17, 11:35 PM
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    • 9,035 Thanks
    Moneyineptitude
    my complaint is based around not knowing I had it
    Originally posted by Lilbobz
    Almost 11 years after you were last charged for it, it's hardly surprising you had forgotten you had it.

    Sounds like the Bank have upheld your complaint for entirely different reasons than those you gave. If the redress is not a large amount, the Bank may even have decided to uphold your complaint without investigation to avoid any FOS fee.
    • Montysaurusrex
    • By Montysaurusrex 30th May 17, 3:59 PM
    • 2 Posts
    • 0 Thanks
    Montysaurusrex
    Hi, I think I have a Mortgage PPI claim against the Woolwich. It's from 20 years ago though and I don't think the Best Woolwich is in existence any more. any ideas anyone?
    • Montysaurusrex
    • By Montysaurusrex 30th May 17, 4:02 PM
    • 2 Posts
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    Montysaurusrex
    Ignore the "Best"!
    • dunstonh
    • By dunstonh 30th May 17, 4:08 PM
    • 88,375 Posts
    • 53,591 Thanks
    dunstonh
    Hi, I think I have a Mortgage PPI claim against the Woolwich. It's from 20 years ago though and I don't think the Best Woolwich is in existence any more. any ideas anyone?
    Originally posted by Montysaurusrex
    Was it bought via the Woolwich or a broker? (many woolwich mortgages were broker arranged).

    Most MPPI complaints fail. It is not like loan and credit card PPI. MPPI is still sold today and is just one of two types of PPI that is. Things like 12 months sick pay dont work with MPPI as you see the FOS reject complaints on that basis. So, why do you think yours was missold?
    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.
    • sallymander
    • By sallymander 5th Jun 17, 9:16 PM
    • 266 Posts
    • 907 Thanks
    sallymander
    Hi all,

    Just wanted to post that last week I filled out the resolver form and was only able to filll out limited details, as the policy was sold to me 16 yrs ago and i hadnt got the paperwork anymore but a week later i was repaid £1,704 so if you're unsure just give it a go.
    Official DFW Nerd Club No. 1150 - Long Haul Supporters Club No 186 - Debt free 26.5.17
    Proud to have dealt with my debts
    • Geoff71
    • By Geoff71 7th Jun 17, 3:05 PM
    • 1 Posts
    • 0 Thanks
    Geoff71
    i had to make just one claim for ppi , can I still make a claim for reclaiming ?
    • dunstonh
    • By dunstonh 7th Jun 17, 3:11 PM
    • 88,375 Posts
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    dunstonh
    i had to make just one claim for ppi , can I still make a claim for reclaiming ?
    Originally posted by Geoff71
    You can still complain. However, your reasons for complaint are much reduced. You can't say you didnt know about it. You cant say you were not eligible and you cant say you didnt need it.

    If your complaint is successful, the amount paid out under the claim is deducted from the redress.
    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.
    • Holembar
    • By Holembar 7th Jun 17, 11:50 PM
    • 4 Posts
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    Holembar
    Am desperate for information on whether there was a time mortgage brokers were not indipendant and worked for or were payed by the banks. Took a mortgage 20 years ago. Was sold ppi given the number for a broker by the bank, met the broker at the bank. Now the bank are claiming the broker sold me the ppi. However I am sure at the time all banks were selling ppi and making to sound as if without it you could not get the mortgage. Any ideas?
    • Moneyineptitude
    • By Moneyineptitude 8th Jun 17, 12:47 AM
    • 18,888 Posts
    • 9,035 Thanks
    Moneyineptitude
    If you were sold mortgage PPI by a broker, it is to the broker that you must direct your PPI complaint. If the broker is no longer trading your complaint is at an end. In addition, brokers were not regulated until 2005.

    You cannot complain that "all banks were selling ppi and making to sound as if without it you could not get the mortgage" as that is a broad generalisation which simply is not true
    • dunstonh
    • By dunstonh 8th Jun 17, 7:03 PM
    • 88,375 Posts
    • 53,591 Thanks
    dunstonh
    Am desperate for information on whether there was a time mortgage brokers were not indipendant and worked for or were payed by the banks.
    Yes there was. I used to be one. Indeed, on a number of occasions, I would have the client meeting in the branch of the society/bank that I was recommending despite not being a direct employee of that bank but of another bank.

    However I am sure at the time all banks were selling ppi and making to sound as if without it you could not get the mortgage. Any ideas?
    In the 90s, there were many deals that required a purchase of MPPI to get the deal. Where that is the case, it was not mis-sold.
    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.
    • Holembar
    • By Holembar 8th Jun 17, 8:55 PM
    • 4 Posts
    • 0 Thanks
    Holembar
    It's not as simple as that, my claim has been going on for 3 years, the ppi was definitely not compulsory as when I figured out I had it I cancelled it, and tried to claim. RBS sent me a letter saying they did not feel they had Missold it as I Signed for it and gave me so long to, appeal, but RBS made a string of clerical errors and were sending the letters to the completely wrong address, when I later chased up the claim I was told I had missed the deadline for appeal, so I took it further because I knew I had not received the communication, this was when the clerical errors were discovered by the third party, then RBS so ok I may not have knew what I was getting (as I did cancel it) and they had made mistakes with my address - using no less than 3 Wrong addresses in their communication. When told to pay they came again and said it was a broker and not theirs reaponsibilty. However I went to RBS for the mortgage, they arranged a meeting with the 'broker' it was even on RBS headed paper when I received the appontment, it was at their office And hand on heart I had no idea I was dealing with a broker, being a first time buyer and new to the mortgage gane how could I? Would this man been have commissioned by the bank and not me? If so surely then if they are the ones who sold me the mortgage and they were all signed for at the same time, aren't they the ones who sold me the PPI ?
    • Moneyineptitude
    • By Moneyineptitude 8th Jun 17, 9:15 PM
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    • 9,035 Thanks
    Moneyineptitude
    I I went to RBS for the mortgage, they arranged a meeting with the 'broker' it was even on RBS headed paper when I received the appontment, it was at their office And hand on heart I had no idea I was dealing with a broker,
    Originally posted by Holembar
    It doesn't matter whether you realised it was a broker.

    Any complaint goes to the broker who sold you the insurance, not the bank which hosted the meeting.

    The Bank's failure to send you correspondence at the correct address is completely irrelevant to this.

    So it really is as simple as that.

    Three years is a long time to be arguing this because you'll never win.
    • dunstonh
    • By dunstonh 8th Jun 17, 9:30 PM
    • 88,375 Posts
    • 53,591 Thanks
    dunstonh
    However I went to RBS for the mortgage, they arranged a meeting with the 'broker' it was even on RBS headed paper when I received the appontment, it was at their office And hand on heart I had no idea I was dealing with a broker, being a first time buyer and new to the mortgage gane how could I?

    Different bank but the same situation I dealt in as mentioned earlier. It used to be very common. Brokers/IFAs used to use the societies branches all the time. It faded out over time when the banks brought in their own products and salesforces. I think the last one I did that way was about 1997.

    Would this man been have commissioned by the bank and not me?
    No
    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.
    • duffs54
    • By duffs54 10th Jun 17, 10:51 AM
    • 125 Posts
    • 59 Thanks
    duffs54
    Managed loan with Midland bank
    Having had a couple of successfull PPI claims I am wondering about this little nutmeg.

    My partner had a rather large tax bill, we were unable to pay it and asked our bank for help, in the days where you rang your branch and were able to speak to your fav person.

    The amount of the loan was roughly 5ishk, the bank came up with a solution and called it a managed loan, payments £150 a month.

    It wasn't till it was paid off and we got the final statement, only £100 was coming off the debt the other £50 was well insurance or something I can't really remember now.

    Do you think we have a valid claim to this please, we are talking about the 90's I think

    Cheers
    • -taff
    • By -taff 10th Jun 17, 11:56 AM
    • 7,228 Posts
    • 4,631 Thanks
    -taff
    Do you have any records? Have you asked the bank if they have or sent a SAR?
    • Moneyineptitude
    • By Moneyineptitude 10th Jun 17, 12:57 PM
    • 18,888 Posts
    • 9,035 Thanks
    Moneyineptitude
    It wasn't till it was paid off and we got the final statement, only £100 was coming off the debt the other £50 was well insurance or something I can't really remember now.
    Originally posted by duffs54
    A managed loan is one that is generally imposed by the bank as a means to 'help' people sort out problems such as overdrawn accounts etc. It normally has a much higher interest rate than an ordinary bank loan and has other strings attached such as no overdraft facility or access to other forms of credit.

    It sounds like what you think was "insurance" was more likely interest and charges, although there might have been a PPI element.

    On what basis would you complain and expect to be refunded?
    • jodytoady
    • By jodytoady 10th Jun 17, 1:02 PM
    • 1 Posts
    • 0 Thanks
    jodytoady
    Welcome Finance PPI Mess! Please Help!
    Hello

    I'm in a bit of a bother about my PPI claim with welcome finance. I was miss-sold the PPI policy back in 2007. The FCSA took over the claims for PPI and they wrote to me back in 2014 telling me that all PPI claims for welcome finance will be dealt with by the FCSA. This is how I found out that I even had a claim. The paper work I had to fill in had an agreement in it stating that I can not use any third party claims companies, during or forever after making my claim for PPI other than the FCSA. It all seems a bit dodgy to me.

    I had to go through the process of a DRO back in 2011. I never paid back the full amount to welcome finance but because I wasn't aware that I even had a claim for miss-sold PPI until 2014 and my moratorium period of my DRO was over. Basically all my debts were written off and because of the terms of a DRO, I found out that I would receive the refund. ( Lucky me )

    I was made redundant back in 2007 about 3 months after taking the loan out. I remember phoning the insurance company and trying to make a claim and they told me that I wasn't able to make a claim because I had not been with the same employer for 6 months or more. I later realized that I just had to be in constant employment and moving to a new job is consistent employment. They didn't offer to send me a claim form. The women on the phone just dismissed what I was saying and I was under so much stress at the time after losing my job and being in crippling debt I didn't question anything. I had never tried to make an insurance claim before and didn't know how the process went.

    It wasn't until I was looking through the policy booklet back in 2014 when trying to claim miss-sold PPI that I realized that I actually could of made a claim all those years ago. when I tried to claim back my PPI i mentioned this and the FCSA told me that they would not refund me because I could of claimed on the insurance to cover my loan payments but never did. (I hope I'm making sense) They also told me that there is no record of me ever trying to make a claim on my insurance. They said not even a phone call was made. I'm furious about this and really feel that I've been done over good and proper and don't know what to do next. I guess I should take my case to the ombudsman. I feel that if the PPI had been covering my loan repayments when I had a legitimate claim, I would never of had to use the DRO option.

    DESPITE ALL OF THIS.......THE FACT REMAINS..... I WAS STILL MISS-SOLD PPI. I was told I was more likely to get the loan if I had the insurance.

    Please can anybody tell me if the fact that I could of made a claim on my insurance ( despite them deceiving me ) should effect my claim for PPI refund Also what can I do about Welcome finance lying to me not dealing with my claim on the insurance all those years ago? I believe after trying to contact my old employers to make a claim on my PPI 7 years too late,They went into liquidation back 2009. ( I was advised to make claim in this way by the FCSA, Makes me wonder if the FCSA were even involved in this whole process, or if the FCSA are a bunch of crooks themselves. )
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