PPI Reclaiming Discussion part 4

di3004

climbintheladderouttadebt wrote: »

Hi, I am just starting to work my way through the 500-odd posts on here but really need an answer to my question asap if poss please?

I took out PPI on 6 Shop Direct accounts in September 2009, not sure if I was self-employed when I filled in the app forms. How can I find out what info I put? Do I need to do a SAR?

Also, in March 2007, I took out a Lloyds TSB Mastercard, from my local branch, who knew I was in receipt of maternity benefits at the time. I was also sold PPI. Was this possibly mis-sold? There are some P's and some O's in various boxes in the cover explanation part but it explains nothing to me!

I've always thought I needed PPI so I'd be accepted for the card/account or the lenders wouldn't touch me without insurance.

Many thanks to any answers received!

Hi there;)

An SAR may be useful if you don't have much details/info, where you should find info in relation to ppi within the SAR, hopefully this will help you.
They have 40 days to comply and you enclose £10 cheque or postal order for this request.
SAR letter template here:
https://forums.moneysavingexpert.com/discussion/1475553

and I would check on the policy booklet details in regards of the maternity benefits, but despite that you do have good reasons to make a reclaim anyway, with what you said, you thought it was all part of the whole thing sort of thing, then obviously they did not explain the policy to you, so give it a go.:)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

climbintheladderouttadebt

southend wrote: »

Hiya, i hope you are coping ok.

Were you told that you had to have the PPI, informed that you could get it elsewhere or asked if you already had any such cover to protect yourself financially and would have they paid up if you lost your job etc? These are the first things i would be asking myself. As far as the self-employed part, i don't know - could you ring your tax office?
If it makes any difference mine was mainly over the phone and fax, i personally would not say i didn't know, if they did not tell you. Get a notepad and write down the bits you can remember, put it down, try to remember was it a happy voice he or she etc. It will come to you. If in doubt keep out of that part of your notepad. Turn to the back page and write down your bugs. I bet you were mis-sold it though, take care

Hi,
I must admit I'm so overwhelmed with things but am coping thanks to MSE!

Thanks for the swift reply. I need to know what I entered on the forms rather than what records are held at the tax office, at least for the moment. As I may have put self-employed, would the scenario of job-loss actually be feesable, if that makes sense? I applied for the accounts with PPI on the internet and have no paperwork relating to the PPI and what cover was offered. Can I apply for copies of the t&cs or whatever?

I do not remember what happened when I took out the credit card with PPI- I was due to have my 1st child within 2 weeks and had literally moved into my flat 2-3 days previously! I do not remember being told I needed the insurance, I definitely do not remember being told I could get it elsewhere, nor being asked whether I had any relevant cover, but I was sold a Lloyds TSB Premier account (or whatever their 'best' account was/is) at the same time. I left the branch with a £500 credit card and bank account with overdraft of £450. I do remember being shocked that I could be given that much credit whilst on benefits!!

It seems, if the Ps mean I was covered, that I was covered for hospitalisation and life claims. Given that I was on benefits, would these have actually benefitted me?

I am SO confused! :think:

southend

I am livid, how dare they treat a very vulnerable woman as you were then. Heavily pregnant, feeling shattered, just moved, not working, lonely etc. I feel for you sweetheart. Don't quote me on it but i was told a long time ago, if you were out of work, or knowingly about to loose your job, then PPI was null and void. You need sound advice. This cannot be ethical, like to know what their banking code of conduct etc is. As far as t&c, you should be able to apply for a copy of the originals. Thinking of you,remember what thats like

climbintheladderouttadebt wrote: »

Hi,
I must admit I'm so overwhelmed with things but am coping thanks to MSE!

Thanks for the swift reply. I need to know what I entered on the forms rather than what records are held at the tax office, at least for the moment. As I may have put self-employed, would the scenario of job-loss actually be feesable, if that makes sense? I applied for the accounts with PPI on the internet and have no paperwork relating to the PPI and what cover was offered. Can I apply for copies of the t&cs or whatever?

I do not remember what happened when I took out the credit card with PPI- I was due to have my 1st child within 2 weeks and had literally moved into my flat 2-3 days previously! I do not remember being told I needed the insurance, I definitely do not remember being told I could get it elsewhere, nor being asked whether I had any relevant cover, but I was sold a Lloyds TSB Premier account (or whatever their 'best' account was/is) at the same time. I left the branch with a £500 credit card and bank account with overdraft of £450. I do remember being shocked that I could be given that much credit whilst on benefits!!

It seems, if the Ps mean I was covered, that I was covered for hospitalisation and life claims. Given that I was on benefits, would these have actually benefitted me?

I am SO confused! :think:

southend

Mis Sold PPI
Abbey,Alliance & Leicester, Bank of Scotland, Barclaycard, Barclays, Beneficial Bank, Blackhorse, Bradford & Bingley,
Brokers, Capital One, Direct Line, Egg, Financial Advisors, First Direct, First National,
First Plus, Freedom Finance, GE Money, Halifax, HFC, HSBC, I Group, Land of Leather, MBNA,Nationwide, NatWest, Northern Rock, Ocean Finance, Picture Loans, Royal Bank of
Scotland, Santander, SPML, Welcome Finance, Yes Loans,Other Lenders.

Lloyds TSB



The Office of Fair Trading, The Financial Services Authority and the Citizens Advice bureau have all reported that the mis selling of Payment Protection Insurance (PPI) has been widespread. "Which Magazine" has estimated that as many as 2 million PPI Policies have been mis sold to borrowers.

A typical example of PPI being mis sold to you when you took out your Loan could have sounded like:
You: "Could I have a Personal Loan for £10,000 over 5 years to buy a new car?"
Bank: "Our interest rate's 7% so that would be £250 a month fully covered, how does that sound?"
You: "That sounds okay, when can I have the money?"

The Bank has used the words "fully covered" to sell you PPI. The actual cost of the Loan is only £200 a month, but the PPI costs an extra £50 a month. Therefore, you will repay an extra £3,000 over five years on top of the £10,000.

If you did want your Loan "fully covered", depending on your circumstances, you could easily buy PPI independantly for only £7 a month, this would cost £420 over five years.

Alternatively, instead of paying £50 a month for the Bank to cover only your Loan payments, you could spend about £23 a month on a independant PPI Policy that would cover all of your: Loan payments, Car Finance, Credit Card payments and Mortgage payments.

Other common ways PPI could have been mis sold to you include:-

• You were not even aware you had PPI

• You were not aware that your PPI significantly increased your repayments

• You thought that your PPI was part of your loan

• You were not given examples of repayments including PPI and without PPI

• You were not given examples of when your PPI did not cover you

• You were not provided with full details of your PPI policy

• You were not told PPI was completely optional

• You were not told PPI could have been bought elsewhere (often cheaper)

• You were not asked questions about your health or medical history

• You were not asked questions about your employer's sick pay scheme

• You were told you had a better chance of getting the loan if you took PPI

• You were self employed or not in full time employment when you took PPI

southend

Hiya, i do sound stupid now.
I have only just found out that that mortgage protection, critical illness, life cover cover are actually PPIs. Now i am worried. Do you know if the same rules apply as they do with credit cards and loans? Is this true? I have not looked through our paperwork yet, i have a lot of it. Bought them at Barclays bank when we took out the mortgage,but they are actually through some other major companies that have regulary misold policies

di3004

climbintheladderouttadebt wrote: »

Hi,
I must admit I'm so overwhelmed with things but am coping thanks to MSE!

Thanks for the swift reply. I need to know what I entered on the forms rather than what records are held at the tax office, at least for the moment. As I may have put self-employed, would the scenario of job-loss actually be feesable, if that makes sense? I applied for the accounts with PPI on the internet and have no paperwork relating to the PPI and what cover was offered. Can I apply for copies of the t&cs or whatever?

I do not remember what happened when I took out the credit card with PPI- I was due to have my 1st child within 2 weeks and had literally moved into my flat 2-3 days previously! I do not remember being told I needed the insurance, I definitely do not remember being told I could get it elsewhere, nor being asked whether I had any relevant cover, but I was sold a Lloyds TSB Premier account (or whatever their 'best' account was/is) at the same time. I left the branch with a £500 credit card and bank account with overdraft of £450. I do remember being shocked that I could be given that much credit whilst on benefits!!

It seems, if the Ps mean I was covered, that I was covered for hospitalisation and life claims. Given that I was on benefits, would these have actually benefitted me?

I am SO confused! :think:

Me again

had to sign off for a bit earlier, had a massive migraine, so will try to help all I can.;)

Right with Lloyds, they are known to add the ppi even without being advised or asked if you require this.
Now I do think you have good reasons anyway to make a reclaim.

Lloyds always come out with "they still cover for life cover/hospitalisation/job solutions basically as a standard fob off response, especially when it comes to credit card ppi.
Now my point is, and the ombudman agreed, when I was only then receiving children's benefits at the time (even though my hubby was working) but this credit card was mine alone and I was not a 2nd card holder, why should I pay full ppi cover for something that is NOT going to fully protect me, as being a homemaker, this would not obviously protect again employment, as there is no employment to start with.

I would request for the policy booklet details, they will provide these free of charge if you do not have hold of these, I was going to suggest as well to check on Lloyds website - as they may also require the policy exemptions and the t&c's on the website.

So I would therefore - explain that your unable to make a successful claim whilst being on benefits for unemployment.

And.....
The policy does NOT fully protect you, and its worthless to you, and you can't see why you should pay out full PPI for a policy your unable to make a claim on.

And remember as well, if you also had a medical condition at the time of taking out the policy, and if you were to make a claim for sickness at any time, again it would not protect you or pay out.

The policy is absolutely worthless to you, and if Lloyds let you down the FOS will not.

So basically, you also need to add - that if the policy was explained to you, then you would have had the opportunity to inform them that you would not be eligible to claim whilst on benefits, so therefore this was automatically added to the finance, and you assumed if you cancelled, you would therefore had to settle the balance in full.

You can also tell them, it should be the adviser's job to have gone through the PPI policy with you, and they had not done this, and it was not sold to you in your best interest.

And of course your now out of pocket, which is why you are now requesting that they refund you ALL you have paid in PPI, plus interest, also 8% interest of what a court would award for being deprived if your money.

Sometimes Lloyds will even change a final decision, it worthwhile keeping on at them, basically you could add that the FSA are punishing banks who reject genuine complaints and you don't feel your complaint have been taken seriously or even considered for that matter.

And state that if you decided to complain to the FOS, they will be liable to pay out further charges, and you will also consider requesting for further redress for distress and inconvenience.

There is also an email contact if your interested here:
[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]

Hope this helps, I remember feeling badly let down by these, but have now got used to dealing with them and learn't what they can be like - they do tend to back down, keep strong.:)

di3004

southend wrote: »

Hiya, i do sound stupid now.
I have only just found out that that mortgage protection, critical illness, life cover cover are actually PPIs. Now i am worried. Do you know if the same rules apply as they do with credit cards and loans? Is this true? I have not looked through our paperwork yet, i have a lot of it. Bought them at Barclays bank when we took out the mortgage,but they are actually through some other major companies that have regulary misold policies

Hi Southend

I would post about this one on a separate thread (on the ppi on here of course lol), but subject it as "Help mortgage ppi"
And hopefully Dunstonh who helps a lot on these matters will help you on this one.;)

I assume the rules are the same, but see what Dunstonh has to say. Good luck.:)

southend

sorry Di, i didn't realise that there was a seperate thread

di3004

southend wrote: »

sorry Di, i didn't realise that there was a seperate thread

Hey that's okay, its just useful in case you want some individual help sort of thing. So not a problem where you really post within this thread really.;)
But this way Dunstonh will not miss your post.

The link below is still that of PPI, but if you click on the link first - have a little look above the threads you will then see in blue little box, "New thread", (as said its still the ppi thread, so no worries);), and you can then add your subject.

Hope this helps honey.:)

http://forums.moneysavingexpert.com/forumdisplay.php?f=169

southend

ta sweetheart, my old mans going to kill me, hope i am wrong