Can I reclaim ppi please help

Jimmy812

Hi I'm new to this so bare with me pls. Can anyone tell me if I can claim my ppi back. I first took out a loan in 1999 and with no credit rating only being 18 I had to have my father as a guarantor incase I couldn't repay the loan for any reason they said they would go to him for the payments but they also sold us the ppi why would I need this if my father was a guarantor? In 2002 I topped up my loan still using my father as a guarantor and still paying ppi. I again topped up my loan in 2005 this time taking my father off the loan and continued to pay off the loan and ppi until may 2011. At the time of taking out the loan I was employed and became self-employed in 2007 and my father was self-employed and became employed in 2008. Any help on this matter and what road to go down next would be gratly appreciated. I also have a credit card on which I pAy ppi is this useless scince I've been self-employed? Can I claim this back. again any helP is welcomed thanks

dunstonh

but they also sold us the ppi why would I need this if my father was a guarantor?

Nothing wrong with that. Indeed, it is quite normal and acceptable for insurance to be taken out if you have a guarantor. That way the guarantor is only called upon as a matter of lost resort.

I also have a credit card on which I pAy ppi is this useless scince I've been self-employed?

Have you confirmed that or are you just assuming it? Some PPI does cover the self employed.

gemspan1

Hi Jimmy

If you were sold PPI when you were working and were paid when you were off work sick then you have been mis-sold PPI

If no fact-finding was carried out to see if PPI was a suitable product for you - then you have been mis-sold PPI.

I would also agree with you if you had a guarantor then there is no real "need" for PPI unless you wanted to be extra careful and make sure your father didn't have to pay your loan.

Have a look at the facts surrounding the mis-selling of PPI on the Financial Ombudsman Service website and you will get a better idea if you have been mis-sold.

Concerning your credit card question. If you have all the statements relating to this account then you will be able to see if PPI has been charged. If you don't then I would send the CC provider a SAR (Subject Access Request) for all the details they have on you as an account holder.

I am sure there will be a template somewhere here on the site which will give you the information you require. Send it to the Data Controller at your Credit Card Company's head office.

I hope this helps. Years ago PPI was just added to loans without the real need for it. If you were in full-time employment and you get paid for being off sick then they probably wouldnt have paid out anyway. It's a scam that's being going on for years, putting extra money into the greed bank's coffers.

Good luck
Gemspan

dunstonh

If you were sold PPI when you were working and were paid when you were off work sick then you have been mis-sold PPI

It depends on the timescale of the sick pay. If it was 6 months full, 6 months half then yes it would be. If it was 1 month in total then no it wouldnt be.

If no fact-finding was carried out to see if PPI was a suitable product for you - then you have been mis-sold PPI.

Factfinding is not required on non advice cases. Most loan and credit card were not sold under an advice process (you could argue that had the banks done this then the PPI issue would never have arose)

I would also agree with you if you had a guarantor then there is no real "need" for PPI unless you wanted to be extra careful and make sure your father didn't have to pay your loan.

What you want and what you need are two different things. The general rule of thumb with financial protection need is a very simple question. "Is anybody worse off in the event of....?". In this case, the answer is yes. The father would be worse off. So, a financial need exists.

Jimmy812

Thanks for the reply will check that with the ppi on the cc

gemspan1

Dear Dunstonh

If the person receives sick pay while off work then he has been mis-sold PPI. The PPI should also have been explained clearly in respect of pre-existing conditions. You have actually admitted that this wasn't done and hence the reason for all the PPI claims......MIS-SELLING - and that is why people are being encouraged to claim back PPI from organisations that did not carry out the full fact-finding exercise and who, if that had been carried out, would not have benefitted from PPI.

Those are reasons for mis-selling as identified by the FOS....not just me!

A "guarantor" is just that.....guarantees payment.....a bit like a PPI insurance. If they needed to guarantee their payments with PPI then why not just sell PPI? Why do they need a guarantor too?

Jimmy, on reading around the site today I have come across certain posts that appear to be hijacked by people who are trying to come up with all sorts of reasons for not claiming PPI.

If you have a look at the successes and failures you will get an idea of the type of successful claims that are being finalised.....and many of them include just the type of thing you are talking about here. Do not despair. You have nothing to lose - apart from money for stamps.

I would try and establish whether your CC has had PPI added too by sending a SAR.

You must remember that people will try to stop you claiming your mis-sold PPI because it may be in their interests for you not to claim. Also remember that it was the banks' greed that got us into the mess we are in today... I would never trust anybody who acts on behalf of Banks again....because nobody is truly "independent".

If people can't help and give proper advice then the best thing to do is just ignore them.

Good Luck Jimmy.

Gemspan

gemspan1

Jimmy, FYI I have been a member of this site for many years but lost my log-in details when I moved house and hence I had to re-register.

dunstonh

If the person receives sick pay while off work then he has been mis-sold PPI.

That is not correct. Or it is at least far too simplistic. Firms have differing periods of sick pay. A firm that pays only 1 month sick pay would not be classed as a mis-sale if PPI was taken out. It is only where there is significant overlap that it would be a mis-sale.

Those are reasons for mis-selling as identified by the FOS....not just me!

Please provide your evidence then as the FOS certainly do not back up what you are saying about sick pay.

A "guarantor" is just that.....guarantees payment.....a bit like a PPI insurance. If they needed to guarantee their payments with PPI then why not just sell PPI? Why do they need a guarantor too?

You are ignoring the fact that guarantor would be financially worse off. A key point as it clearly indicates a financial need.

If people can't help and give proper advice then the best thing to do is just ignore them.

In which case, gemspan1 should be added to your ignore list as the information is inaccurate.

Jimmy812

Thanks gemspan1 all your info is very helpful as I didn't have a clue where to start like u say I've nothing to lose ill keep u imformed on here how I get on thanks again.

dunstonh

Jimmy812 wrote: »

Thanks gemspan1 all your info is very helpful as I didn't have a clue where to start like u say I've nothing to lose ill keep u imformed on here how I get on thanks again.

Are you real or are you just a second login for gemspan1 and are pretending to be someone different?

gemspan1 is giving wrong information. You can choose to thank him if you wish but its your own loss if you do.

Jimmy812

Yes I am real dunstonh and not a second login for gemspan1. I have checked with cc company and my ppi doesnt cover me if I'm self-employed so think this has been mis-sold also with regards the loans all have had ppi on them and at the time I took out the loans was entitled to full sick pay from my employer this company has now shut down so also believe this could have been mis-sold to me aswell.