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  • FIRST POST
    • Former MSE Wendy
    • By Former MSE Wendy 9th Aug 07, 5:07 PM
    • 868Posts
    • 1,782Thanks
    Former MSE Wendy
    PPI Reclaiming discussion
    • #1
    • 9th Aug 07, 5:07 PM
    PPI Reclaiming discussion 9th Aug 07 at 5:07 PM

    Please note this thread is now closed as it got so long it was difficult to open.
    It's continued in article discussion part II

    This thread is specifically for discussing the content of the
    PPI Reclaiming article.

    To discuss or ask a question about this article: click post reply

    Report and read success stories in this thread


    NOTE FROM MARTIN:

    Hi Folks

    Many of you are asking "can I reclaim questions" below. Let me give a generic answer.

    At the article is new for the site this means that unlike Bank Charges reclaiming they're aren't many experienced reclaimers on hand to help yet (hopefully that'll change soon when people who have been through the process come back to help others).

    Go through the article in detail for the main categories of misselling. Yet in a nutshell if you have an inappropriate PPI product and weren't told it was inappropriate; or if you have a PPI policy without being told; then it's likely you have a mis-selling case.

    How to know if you've a misselling case?

    Well hopefully the article explains it; but if you're not sure, and you think you're hard done by, send your provider the template letter. It's as simple as that, just go for it. There's no cost for doing this. If 'reclaiming' is a scary concept, just think of it as a 'complaint letter asking for your money back'.

    Therefore ask yourself the question, "have i been treated reasonably and given reasonable information?" If you think you have - don't try. If you don't think you've been treated reasonably, then start the reclaim.

    Best of luck

    Martin
    Last edited by Former MSE Wendy; 16-04-2008 at 12:39 PM.
Page 1
  • ajpoolshark
    • #2
    • 14th Aug 07, 8:28 PM
    • #2
    • 14th Aug 07, 8:28 PM
    A quick question to the forum, I took out a personal loan with first direct for £12000 back in 2000 whilst serving in the military. I was sold a payment protection policy with unemployment/redundancy cover. As I was serving in the military at that time, knowing that regardless of whether I was 'off work' or not I would still be payed my monthly salary, do I have a case for reclaiming P.P.I?
  • bangragal
    • #3
    • 14th Aug 07, 10:41 PM
    • #3
    • 14th Aug 07, 10:41 PM
    Great article - I had an issue when I took out an Egg card last year - my first statement showed approx a £30 charge for insurance which I didn't want - I think you had to actually untick a box which reading the article means I should be able to reclaim it back?

    I did query it at the time as I wasn't happy but no luck- I know it's not a lot but it just annoyed me as it wasn't obvious at all.

    Is it worth querying it again do you think?
    • fuzzgun19
    • By fuzzgun19 14th Aug 07, 10:53 PM
    • 6,729 Posts
    • 54,383 Thanks
    fuzzgun19
    • #4
    • 14th Aug 07, 10:53 PM
    Can I reclaim??
    • #4
    • 14th Aug 07, 10:53 PM
    Can anyone advise people on this thread regarding if we have a claim(s)?

    I took out a Marks & Spencer personal loan in 2000, and was working at the time.
    I have the original 'Loan schedule', and it states an insurance amount of £12.43 per month (total £596.64 inc insurance premium tax).

    a) Can I make a claim for a loan that was taken out 7 years ago?

    b) Can I claim even if the loan is now paid off in full?

    c) Can I claim even if for most of the repayment period, I was paying it under a financial difficulties agreement with them?

    I am thinking if I have a claim, I would go down the route of " Were you told insurance was compulsory", even though I can not remember if I was told that I must buy a policy from the same provider as the loan or credit card to be accepted for the product...(will this matter that I can't remember?)

    Could anyone help with these questions?
    I Hate Jobsworths!!!
  • sj1147
    • #5
    • 14th Aug 07, 11:22 PM
    Old loans, That i have no details of
    • #5
    • 14th Aug 07, 11:22 PM
    Hi can anyone help

    Over the last few years i have had many loans , Now all paid off. I did not keep details of the policies, I do know the company names. How can i track down the policies and see if i had PPi
    • jaxkesa
    • By jaxkesa 15th Aug 07, 1:59 AM
    • 217 Posts
    • 61 Thanks
    jaxkesa
    • #6
    • 15th Aug 07, 1:59 AM
    • #6
    • 15th Aug 07, 1:59 AM
    Hi

    I am looking into a possible claim from Egg for the Credit Card Repayment Protector they applied to my Egg Card when I signed up. It was about 6 years ago now but I'm quite sure I didn't choose to accept it and I would have had to opt-out, and indeed did after about 5 years of having the card although they didn't seem to want me to

    I have all my statements from the bank charges claim I did a few months back and have just totted up the PPI and it comes to £480! Can I make a claim for this even though I'm not un/self employed etc.?

    Thanks
  • Reidnet
    • #7
    • 15th Aug 07, 2:42 AM
    Hi
    • #7
    • 15th Aug 07, 2:42 AM
    Hi can anyone help

    Over the last few years i have had many loans , Now all paid off. I did not keep details of the policies, I do know the company names. How can i track down the policies and see if i had PPi
    Originally posted by sj1147
    If you know the name of the Lenders Involved you can submit a Subject Access Request under the Data Protection Act to obtain all the Information that you will require.

    Good Luck
    Ian
  • sj1147
    • #8
    • 15th Aug 07, 7:55 AM
    Time limit
    • #8
    • 15th Aug 07, 7:55 AM
    Hi

    Thanks

    Is there a time limit on backdating claims.
  • shelleywa
    • #9
    • 15th Aug 07, 8:42 AM
    How long is the Insurance cover?
    • #9
    • 15th Aug 07, 8:42 AM
    Hi people,

    I took a loan out over a 10 year period with Northern Rock in August 2005, including a Bronze Loanprotect loan, supplied by Pinnacle Insurance Plc. I read this on this site, after reading Martin's newsletter:

    Is the insurance term too short?
    Long term loans are usually sold with a single premium policy lasting for a maximum of five years, no matter how long the loan is for. If you’ve now checked your policy and found that it does not cover the full term of your loan, but thought that it did, the salesperson should have pointed this out. If not go to the how to reclaim section.



    Now I'm a bit confused! In Pinnacle's T&C's it states:

    Contract Duration
    Cover is provided for the scheduled duration of your unsecured Personal Loan. Your contract will cease if you die, when you reach 65 or at the date of the original scheduled final repayment of your loan.



    Does this mean Pinnacle Insurance will cover me for the 10 years or Just for 5?! It was sold to me as a lump sum with the loan(I'm under the impression that this makes it a single premium policy?), covering 10 years' worth of cover. Does anyone know where I stand with this? Am I eligible for a refund now, when I pay my loan off early(in approximately 1 or 2 years from now) or not at all?

    Thanks for your help!

    Shelley
    • Boggles1234
    • By Boggles1234 15th Aug 07, 8:47 AM
    • 98 Posts
    • 37 Thanks
    Boggles1234
    I had a loan from Masterloan in June 2003 which was repaid in March 2005 when I changed my loan with them which involved paying off the full amount and taking out a fresh loan for a different amount.

    I believe this would be eligible for a claim as I repaid the full amount of insurance at the time.

    I also intend to claim back on the second loan as when i applied i was rejected when i tried to purchase (over the phone) without PPI. The lady handling it (can't remmber her name, just her Irish accent!) then informed me that she could try putting it through with insurance in order to see if that made a difference which it did.

    My concern is that if i try to reclaim, how likely are Barclays to cancel the loan and demand I pay it off in full immediately which isn't possible for me to do?
  • carbonel
    Hi All,
    I have a loan from Nat West bank. Last year I cancelled the PPI following advice from a family member. I asked for a refund but was refused. Can I still go back and ask for a refund again now?
  • financial_filly
    Great article - isn't it amazing what these companies can do relying on people lack of knowledge, sadly me included.

    I do have a question and apologises in advance as it is a silly question. I took out several store cards years and years ago (all with GE Money) and have only just looked at the statements properly and i have noticed that there is "Account cover @ 150 pence per £100 bal" on it..does this mean that I am paying an insurance as this was never mentioned to me over the years and as I am not working(havent been for 5 years) am I right in thinking this policy is no longer of any use to me and therefore should cancel it straight away and do i have a case for reclaiming ?

    I currently have a mothercare and bhs store card although just paid them off this month. Although in the past i have had most stores store card and never even realised that they were adding an account cover, nothing was said when they filled the forms in at the sales desk and they went out of their way to get you to sign up to a store card.

    Can anyone advise?
    thanks in advance
    Brendan's new dance partner...please
  • ginnygee
    I had an Egg loan which I took out over the telephone. I was given no option but to take their ppi even though I was self employed. I can't remember when I took the loan out but it was some years ago and I actually paid off the loan earlier this year. I believe I still have all the paperwork at home (hopefully). If so, as I was given no option but to take on their PPI, which was approximately £50 per month, could I still make a claim even though I have paid the loan off?

    Any information would be appreciated.
  • poshwelshbird
    GE Capital - I want revenge
    Hi

    I had a Debenhams account (GE Capital) which I took out when I was a student but this was in 1995-6. I think I did have PPI but account was closed & paid off over 3 years ago. Would I still haved a claim against them as I was not employed at the time & therefore did not have a risk of unemployment! Is it too long ago to get the information/ make a claim?

    What is the lengthof time - as I think I do have others I possibly could claim again?
    :confused:

    (I would also like any excuse to get something back from GE Capital! They are evil!)
    • fuzzgun19
    • By fuzzgun19 15th Aug 07, 10:22 AM
    • 6,729 Posts
    • 54,383 Thanks
    fuzzgun19
    I'm not sure we are going to get many answers about if we have a claim on here, so I am just going to send my letter and see what happens...

    I have drafted this letter -

    Marks & Spencer Money
    Kings Meadow
    Chester
    CH99 9FB

    Dear Sir or Madam,

    Re: Account number: ********
    I purchased the above policy from you in
    November 2000 but now believe that I was mis-sold this policy for the following reason:

    This is due to the fact that I was not given the correct information when the policy was sold to me, as
    ·Your salesperson stated/implied that taking out the policy would assist my credit application.
    ·Your salesperson was very pushy in selling me the policy so that I felt I could not say no.
    ·Your salesperson did not tell me that the policy was optional and I have since realised that I had alternative insurance cover.
    ·Your salesperson stated/implied that taking out the policy was essential for me to get the associated credit.
    ·Your salesperson did not give me full information on what the policy would and would not cover; for example that the loan only covered the first five years of my loan term.
    ·I am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

    Unless you can satisfactorily justify to me that the policy was fair and reasonable I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date totaling £596.64. As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.

    I look forward to a full and prompt response to this letter and for the matter to be concluded with eight weeks or I shall be contacting the Financial Ombudsman to investigate my complaint.

    Yours faithfully,
    I Hate Jobsworths!!!
    • MSE Martin
    • By MSE Martin 15th Aug 07, 10:30 AM
    • 8,108 Posts
    • 42,239 Thanks
    MSE Martin
    QUICK NOTE FROM MARTIN TO ANSWER THE "SHOULD I RECLAIM QUESTIONS"


    Hi Folks

    Many of you are asking "can i reclaim questions' above. Let me give a generic answer.

    This is a brand new reclaim for the site - we've spent months compiliing it and its based on the top info - and opinion - yet as yet its still a little untested - so we're building info. It also means as yet there aren't many experienced reclaimers to answer questions (hopefully that'll change rapidly).

    In the article I go through the main categories of what misselling is; in a nutshell if you have an inappropriate PPI product and weren't told it was inappropriate; or if you have a PPI policy without being told; then it's likely you have a misselling case.

    There is no harm writing the company one of the template letters if you thin you have a misselling claim - or then following up and going to the Ombudsman; of course there's a chance they'll say no; but with the heat on PPI providers if you've been missold thats unlikely.

    Therefore ask yourself the question, "have i been treated reasonably and given reasonable information" if you think you have - don't try. If you don't thin you've been treated reasonably, then start the reclaim.
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.

    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.

    Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
  • wendyhampo
    PPI claims
    :confused: I have a loan with first plus with PPI but the loan was organised through Loans .co. uk who do I send a claim to Loans.col.uk or First Plus. anyone know?
    • fuzzgun19
    • By fuzzgun19 15th Aug 07, 11:07 AM
    • 6,729 Posts
    • 54,383 Thanks
    fuzzgun19
    Many of you are asking "can i reclaim questions' above. Let me give a generic answer.

    This is a brand new reclaim for the site - we've spent months compiliing it and its based on the top info - and opinion - yet as yet its still a little untested - so we're building info. It also means as yet there aren't many experienced reclaimers to answer questions (hopefully that'll change rapidly).
    Originally posted by MSE Martin
    Thanks Martin!

    This is what I suspected, so I'm just going to give it a try with my letter and will report any findings.
    I Hate Jobsworths!!!
  • zena2105
    my only question , like most others, is how far back can you claim is it inly 6 years like the bank charges??
    Reclaimed thanks to this site: £2596.71
  • Reallyconfused
    Hi,

    Regretfully and much to our embarrassment, we took out a 10yr loan with GE Money (First National) in 1998 following a cold call by a salesman. The policy automatically included a lump sum PPI which we didn't know was optional and didn't need. To add insult in only covered a few years of the policy.

    So far I have written 2 letters to GE Money without success and made contact with the ombudsman who was unable to help (due to the policy being over 6years old)

    I was referred to the Finance and Leasing Association who wrote to GE Money on my behalf but GE Money still refuse to refund the PPI.

    My only option now is to take the matter to court but I too would like to know if my claim would be valid given that the loan (which we are still paying)was taken out in 1998/9

    has anyone done this in the past?...are there any "particulars of claim" for the moneyclaim forms?
    Last edited by Reallyconfused; 15-08-2007 at 12:28 PM.
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