PPI Reclaiming Discussion part 4

amersall

Kendrick_Briscoe wrote: »

I have a general(ish) question regarding claiming PPI from a past mortgate.

If I have paid PPI for a mortgate but I obtained the mortgage through a financial advise company, who do I contact to attempt to claim it back from?

Any help will be appreciated!

Hi there, you need to post on this thread.
http://forums.moneysavingexpert.com/forumdisplay.php?f=187

They can help you more.

beamerguy

Newgirl711 wrote: »

Well, I have had a reply from Nationwide to the questions above.

They replied saying 'their representative was only required to make sure we were eligible for cover and to provide us with sufficiently clear information to allow us to make our own decision regarding the suitability. They believe we were provided with adequate information and based on that we chose to purchase the cover'

They go on to say that we were provided with a policy document that detailed the cover benefits and exclusions and if we had changed our mind the cover could have been cancelled at any point. They advise the cover was arranged in accordance with the regulations in force at the time and there is no evidence of mis-selling.

Where do I go from here? Should I take to the Ombudsman? Do I have a valid claim?:(

Well we would expect Nationwide to say that, they don't want to pay you back.

DID their representative actually make certain that you were eligible for cover ? By making certain means he knew of your circumstances, ie, self employed, already covered by your company etc etc.
OR, did he just label it as "if you are unable to pay the loan, you are covered"
Were you given a 30 day cool off period (which has been in force for years)
If you accepted the insurance based on what you were told, have you carefully read the policy to see if you would have been covered as per the advice given by the representative.

Suggest you go back to Nationwide after you have investigated

amersall

monstermuncher wrote: »

I'm getting really frustrated at the moment!

First Plus are saying that because we went through a broker, we need to take the PPI claim up with them, but surely seeing as we paid them for it and not the broker, they can't refund it?

We were definitely told we needed the PPI or it wouldn't be accepted. Why would it be in a broker's interest to tell us that? I remember querying it when it was on the agreement, and that's when I was told it was compulsory. I can't remember if I queried it directly with First Plus, or with the broker.

Any advice?

How did you get to know that FP did loans when you were looking for a loan?.

If it was from an advert,or comparison website

amersall

bfern1985 wrote: »

Hi All

I have become a little stuck with my PPI reclaim. I now know which credit cards have charged me PPI.... But how do I know if this was mis-sold to me? I cant remember ever "opting" for PPI. I have had cards with Barclaycard, MBNA, Egg, Mint and Halifax to name but a few.

What is the next step once I know which lenders Ive paid PPI with?

Thank you so much for your help!

Look here for reasons for mis sell.

http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#step2

If any/all apply to you,then put a claim in,you only need the card number and some do mis sell claims over the phone.

amersall

Can they do this after we accpted? We're now waiting on the ombudsman, which could take up to 2 years apprently!!

Have you not accepted the "new offer" for loan one,and why is this with FOS?.

beamerguy

monstermuncher wrote: »

I'm getting really frustrated at the moment!

First Plus are saying that because we went through a broker, we need to take the PPI claim up with them, but surely seeing as we paid them for it and not the broker, they can't refund it?

We were definitely told we needed the PPI or it wouldn't be accepted. Why would it be in a broker's interest to tell us that? I remember querying it when it was on the agreement, and that's when I was told it was compulsory. I can't remember if I queried it directly with First Plus, or with the broker.

Any advice?

All a broker does is act as an independent agent and they will promote and advise on many companies. If it was the broker who told you the PPI was compulsory, he was wrong and you pose the question the question why would it be in his interests ? SIMPLE -- BIG COMMISSION

The majority of brokers are ethical, but like in any business there is always a bad apple. The FSA licence Financial Advisors (brokers) and such a broker could be heavily fined or struck off if found to be giving false information.

BUT, the broker is the middle man and First Plus are liable to you for payments MADE TO THEM. Unless of course via the broker, you paid another company for the PPI.
You need to find this out first

amersall

meachy73 wrote: »

Hi everyone, just looking for a bit of advice. My partner took out a loan with Black Horse for 36 months for a motorbike back in August 2007 and there was PPI insurance on this. To be honest we cant remember if we were asked about the insurance or not. However, during the course of the loan my partner tried to make a claim as he was off work for 6 weeks due to stress from seeing his best friend killed on his motorbike. They refused to pay. Do you think he has a claim.
Just checked the finance agreement - it states no payment protection plan.
The policy document does not state anything about stress/anxiety be excluded. He was actually signed off with Post Traumatic Stress. Could I also make a claim for the payment of £96 that they should have paid when he tried to claim. Thanks in advance for any replies.

Just checked the finance agreement - it states no payment protection plan.

What do you mean with this?.


Look here for reasons for mis sell
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

With them not paying out for a claim,that is a mis sell,see if you have anymore reasons in the link i gave you.

If you win redress,you get the ppi back that you have paid to date and 8% interest,you do not need the insurance amount you could have claimed,if they give you this,then it is not a mis sell,just go for mis sell.

amersall

bravobeastie wrote: »

Hi, could someone give me some advice please? I took out a loan with Barclays in 1997, defaulted in 2000 due to a difficult pregnancy which the ppi wouldn't cover after I was made redundant. The debt was passed on to (i think) CDS? and I have made regular monthly payments of £5 ever since. Would I qualify for reclaiming ppi?

Thank you in advance for any help/advice

If you have reasons for mis sell,then put a claim in,the one you give in your post is a good one,look here for other reasons too.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

Was the debt sold on or is it a collection agency the bank uses?,if it was sold any redress comes to you,if it is with the bank collections,they will use redress to repay the arrears on the loan.

amersall

Now during that 2005-2011 period i believe there was a fair period when i had transfered the balance on the card to another no interest one.

Is this calculated in the offer?.

Can i challenge them and what could happen?
Is there a way i can find out exactly how much i spent on PPI since 1992?

If you have any statements showing ppi from this period,you can use them,if you dont,then a SAR may help,but it may not give you the info you need.
Someone who has claimed cc ppi will help with this i am sure.
It is up to you to accept or not.

beamerguy

Stephen Hester to get £900,000 bonus

Royal Bank of Scotland Stephen Hester will receive £900,000 as a bonus ????

BEGGARS BELIEF that the man who heads the RBS should have the nerve to accept it when his bank owes us the taxpayer £millions ???

IS STEPHEN HESTER WORTH ALL THAT MONEY ??- NEARLY £1miilion

Of course not, for goodness sake, the man is not even capable of replying to emails and appears to be a puppet trying to head a company that is 81% owned by us.

£900,000 ? probably that is why the RBS are lagging their heels in paying BACK your stolen money (PPI)
HESTER is creaming this off to line his own pockets ? Another Fred Goodwin in the making.

THE TWO GREEDY BANKERS FROM THE RBS