PPI Reclaiming Discussion part 4

di3004

KC_Skint wrote: »

Thanks Marshallka :T

Problem is, I can't afford to 'stay' out of work for long, as we have a mortgage, a son at university, blah blah blah. I am hoping to be working within a couple of months, but of course cannot guarantee this!

I am assuming that if I go for mis-sell, this means I cannot then claim on the insurance, even if un-successful in the mis-sell claim? Is this right? So confusing!

Also, I guess time is not on my side while I go down the mis-sell route. However, if I am working again within a month or so then it would be better to not have claimed.

Aaarrrgghh!! If I knew someone had successfully claimed in similar circumstances, then I'd go for it.

I'll wait and see what else pops up - this site is SO useful!

Thanks again

Hi,

If you make a successful claim then yes your right, they will not look at it as if being mis sold and again if your not successful in claiming, then you do then have that option of going for the mis selling, good luck.;)

marshallka

KC_Skint wrote: »

Thanks Marshallka :T

Problem is, I can't afford to 'stay' out of work for long, as we have a mortgage, a son at university, blah blah blah. I am hoping to be working within a couple of months, but of course cannot guarantee this!

I am assuming that if I go for mis-sell, this means I cannot then claim on the insurance, even if un-successful in the mis-sell claim? Is this right? So confusing!

Also, I guess time is not on my side while I go down the mis-sell route. However, if I am working again within a month or so then it would be better to not have claimed.

Aaarrrgghh!! If I knew someone had successfully claimed in similar circumstances, then I'd go for it.

I'll wait and see what else pops up - this site is SO useful!

Thanks again

This is the gamble with any insurance really. I would just think about it carefully. I know you say you want to be back in work but you have to think that most of the country that are out of work do too. Then again if you go for the missell how much are you going to get back? How many repayments would that make for you in total. Its all about your own personal circumstances really. I just did not want you to think we all think that 10% was rubbish. I certainly did not think it if they would pay this for definate and it is a hard one for you to decide. Others may throw in their views but I don;t know how much your missell would be for either so that is why I say "think" about all pros and cons. Sorry you are in this dilemma but others may put their views too.


Also Egg do uphold this they mostly pay back to the card anyway and also think about the length of time FOS are taking for complaints too. This can be 18 months now. How desperate are you?? All this needs considering.

Good luck

pinknico

With online applications KC, Please be 100% sure that you DID NOT select the PPI yourself. If you did its game over on the PPI front unless there was something missing in the terms and conditions and you would not have qualified for this.

Also be 100% sure that 10% is what they would pay off your bill per month and how long they would do this for, do you know how much a month you pay towards ppi?

I dont think amersall meant 10% was rubbish in that sense, just compared to what you could get if you had been missold PPI.

You would get back all your payments plus associated interest plus 8% on each payment from the date it was paid.

10 years of PPI does add up.

Portofino_2

With online applications KC, Please be 100% sure that you DID NOT select the PPI yourself. If you did its game over on the PPI front unless there was something missing in the terms and conditions and you would not have qualified for this.

Hi, can I ask a Q re Egg online and others where the PPI box is ticked and you opt out? How can you prove/know this?

Thanks.

laalaa41

I have an Egg Card account (I was one of those who they unceremoniously cancelled for no good reason). It goes back to 2002 and that's when they say I ticked some box or other. I read about "unadvised" insurance. If it never would have applied to you/never would have paid out - then it was miss-sold. Egg are the bad guys because they did a hard sell on their PPI back in the day and we know they were fined squillions for that.

Anyway last year things went horribly wrong (financially) for me so I began to do the "fine tooth comb" thing and read about the miss-selling of PPI. On examination, I finally discovered Id been paying through the nose for this whilst a) temping and b) I have a thyroid condition that by all accounts is a real cop-out for any insurer because it affects every system of the body. So it would never have paid out had I lost my job (whatever I was doing that week ha ha) or got sick.

Because I am now in financial difficulty, my case against Egg PPI has been fast-tracked which only means its going to take a little less time- it appears. But from the noises my adjudicator was making, I think the outcome will be in my favour. In the meantime, Im totally in the dark. I don't know about the outcome, or what Egg are saying. I'm waiting for a fat cheque :rotfl:

L

KC_Skint wrote: »

Thanks so much for your reply Amersall :T

I thought the 10% was quite good!! I'm guessing I'm a little naive

I am concerned that if I have selected a tick box for Payment Protection on the initial application on-line, then isn't it hard for me to claim as being mis-sold? It's that long ago I don't remember it.

Egg have paid out to people, but the report on this site states that it was for cards taken out over the phone, and years after mine.

I don't know what to do

amersall

KC_Skint wrote: »

Thanks so much for your reply Amersall :T

I thought the 10% was quite good!! I'm guessing I'm a little naive

I am concerned that if I have selected a tick box for Payment Protection on the initial application on-line, then isn't it hard for me to claim as being mis-sold? It's that long ago I don't remember it.

Egg have paid out to people, but the report on this site states that it was for cards taken out over the phone, and years after mine.

I don't know what to do

go for it, i won with nortern rock and that was a internet application, they told me i had all the information online when i made the application and it was my choice that i took the ppi, i went to fos they upheld my complaint. because i was a customer and not a financial advisor. it would just be jargon to me, you go for it and good luck

amersall

pinknico wrote: »

With online applications KC, Please be 100% sure that you DID NOT select the PPI yourself. If you did its game over on the PPI front unless there was something missing in the terms and conditions and you would not have qualified for this.

Also be 100% sure that 10% is what they would pay off your bill per month and how long they would do this for, do you know how much a month you pay towards ppi?

I dont think amersall meant 10% was rubbish in that sense, just compared to what you could get if you had been missold PPI.

You would get back all your payments plus associated interest plus 8% on each payment from the date it was paid.

10 years of PPI does add up.

cheers for that pinknico, thats what i meant, i also think the 10% would be taken off the monthly payment, and then i think you have to make the rest up, also if that is not paid for very long kc_skint would be better going the mis sell route, as you rightly say the amount paid back will be a lot more than the crap 10%. i know when times are hard and you need the money anything is better than nothing, but at the end of the day that is what these rip off merchants want, they think they have you by the balls, like the "goodwill gestures" they hope you are that desperate you will take the smallest crumb they offer you, at the end of the day this is our money and we want it back

amersall

nassie wrote: »

I have rang the FOS today and A&L have not replied to the letter that was sent to them by the FOS.

I have been told that they have 21 days to reply which is up on Friday.

My case will then be put in a pile for someone to look at it

hi nassie, hows you? good for you for hanging in there, its your money and you want it back fingers crossed for you xx

marshallka

pinknico wrote: »

With online applications KC, Please be 100% sure that you DID NOT select the PPI yourself. If you did its game over on the PPI front unless there was something missing in the terms and conditions and you would not have qualified for this.

Also be 100% sure that 10% is what they would pay off your bill per month and how long they would do this for, do you know how much a month you pay towards ppi?

I dont think amersall meant 10% was rubbish in that sense, just compared to what you could get if you had been missold PPI.

You would get back all your payments plus associated interest plus 8% on each payment from the date it was paid.

10 years of PPI does add up.

Yes, that is why I say to think about it carefully. I would hate the KC to cancel the PPI and make a reclaim for it and then have it paid back against the balance and still not be able to afford the associated monthly payments. Its a hard one here I think pinknico and not one that anyone of us can decide or sway anyone towards. If the poster was not made redundant then I would say to make the missell complaint for definate. Either way I wish them luck and hope they make the right decision for themselves.

It says on egg card site that they pay the insurance for twelve months payments and 1 tenth of the balance owing so that "could" be £1350 (If the poster is eligible for definate!!) and as we all know, when out of work sometimes it can be for longer than we anticipate. I would still stand by what I say in that KC need to think carefully and weigh up the pros and cons on this one. Its a large balance to make repayments on really.

stellaboy

Anybody have a list of credit card companies who have been fined by the FSA for miss-selling ppi please