Reclaiming PPI Credit Card clarification

deejay_jabba

Hi All, new here - I hope someone can help me. I have decided that the PPI I have on my Virgin credit card was missold and that I am going to try to reclaim it.

Here's some history - I've had the credit card for over six years and initially signed up for the PPI, not realising I didn't have to. I moved house in 2005 and with some of the equity from the previous house I paid off the credit card. I am certain (but have no evidence) that as I had arrange a new Mortgage Payment Protection Insurance that I asked Virgin to cancel the PPI. Since then I have accrued more debt on the card and have realised that I have still been paying PPI on the balance since 2005.

I am now in a position to clear the balance of the card, which stands at around £7k

What I would like to know is:
Do I have grounds for a claim?
If so, do I clear the card first, then try to claim the PPI?
Or do I claim the PPI first - does it make a difference?

di3004

deejay_jabba wrote: »

Hi All, new here - I hope someone can help me. I have decided that the PPI I have on my Virgin credit card was missold and that I am going to try to reclaim it.

Here's some history - I've had the credit card for over six years and initially signed up for the PPI, not realising I didn't have to. I moved house in 2005 and with some of the equity from the previous house I paid off the credit card. I am certain (but have no evidence) that as I had arrange a new Mortgage Payment Protection Insurance that I asked Virgin to cancel the PPI. Since then I have accrued more debt on the card and have realised that I have still been paying PPI on the balance since 2005.

I am now in a position to clear the balance of the card, which stands at around £7k

What I would like to know is:
Do I have grounds for a claim?
If so, do I clear the card first, then try to claim the PPI?
Or do I claim the PPI first - does it make a difference?

Hi there and welcome

It makes no difference at all when to make a reclaim, so go for it whenever you like.

There are many reasons for being mis sold, so along with the reasons you have, its also worth checking the checklist for other reasons that may also apply to you too.

You complete the FOS questionnaire, as found on link below, along with the checklist of mis selling reasons, the questionnaire you will find further down the page as stage one of the reclaiming - keep a copy for yourself as well, send to whoever set up and sold you the ppi, they have 8 weeks in full to respond.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

I would also suggest that you get proof of posting at your post office as well, good luck.;)

deejay_jabba

That's great, thanks. This was my next question: I'm not entirely sure who my PPI is with as it comes directly out of my credit card account. So do I contact Virgin about this or do you think there is another company who provide the PPI? I can't find the name of a different PPI company on the account.

di3004

deejay_jabba wrote: »

That's great, thanks. This was my next question: I'm not entirely sure who my PPI is with as it comes directly out of my credit card account. So do I contact Virgin about this or do you think there is another company who provide the PPI? I can't find the name of a different PPI company on the account.

Your welcome.

Whoever set this up for you is the ones you pursue, so if it was arranged by Virgin you take it up with them.;)
As your payments are all taken from Virgin account as well every month.