On a DMP and a PPI-chaser? Support thread!

sickasachip13

Hi :wave:,

I thought it might be good to have somewhere to share knowledge and experiences of being on a DMP while also pursuing a PPI claim. We do have the DMP Mutual Support Thread, which is ace, but we don't want to clog it up with DMP-PPI chat and confuse people

So, I've been thinking about chasing up a few accounts in relation to PPI, not for me, but for Mr SAAC who, I'm pretty sure did have PPI misold on at least one account of his.

Right now, I am starting right at the beginning and sending off for copies of the 'original agreement from the lender, which you've a legal right to do for just £1, under something called the Consumer Credit Act'.

I'll be following the step-by-step guide from MSE:

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step1

Anyone else in? :whistle:

SAAC

camuk81

Good plan. Stuck a link in the DMP thread for you

BlushingRose

Yep, I was thinking about putting in a claim for PPI from Mr BR's primary CC as when we were struggling to pay, he'd though that was one of the things it covered - and it doesn't. I figure that it can't hurt to ask, right?
But what can you claim from - credit cards, yes but loans too?

camuk81

If you've taken out a loan, it's likely you would have been offered payment protection insurance (PPI) with it. This is a form of insurance designed to cover your repayments for a year in the event of an accident, sickness or unemployment.

Payment protection insurance (PPI) itself isn't a bad product. But it's been widely mis-sold with thousands of loans, leaving many paying hundreds for potentially worthless cover. If this applies to you, you may be able to reclaim what you've paid.

Taken from above link.

The key fault people do not ask is are you aware you can get it elsewhere! Though some of the lenders bully boy tatics into making you it with them

sofa_bean

Count me in, please, SAAC

I shall be searching through old paperwork this weekend as I have a feeling I still may have the original loan agreement somewhere...

I know I was not in employment when the loan was taken out and when I pointed this out to the lady in the bank she had some reason why I should still take out the PPI.

sofa_bean

sickasachip13

Excellent. Well, I've disturbed a few moths but haven't unearthed the original agreements I'd been seeking, so it'll be the CCA letter being sent off tomorrow/Saturday.

I remember Mr SAAC having some PPI type thing on CC and at least one, maybe two loans. I'm pretty sure I didn't because I would have queried it and been a nuisance, whereas Mr SAAC is far more obliging!

Anyhow, I figure it's worth the £1 + a 2nd class stamp to find out more from the creditors. Hopefully they can give us what we need without having to go down the £10 document route.

Just to buck a trend, let's give ourselves letters rather than numbers:

A. Sickasachip13
B. Blushing Rose
C. Sofa_Bean
D. Pinot Grigio41

Anymore for anymore?

dabrownbear

I'm on a DMP with Spectrum. It's got 12 months left to run and they referred me to a company called Curly Wig.

Curly Wig sent me a pack which I haven't read. Like Spectrum they want to charge for their services - a yet to be determined cut of the payout. Cosnidering I started off in Jan. 2007 with £38k worth of debt I could be in for a bit of a windfall.

My issue with it is that I don't really want to upset my creditors when things have been running smoothly for 5 years. Also, I remember signing many of those PPI things in the belief hat it would help me secure the loan - is that it being mis-sol or is that me just being a mug?

By the way Spectrum are no longer allowed to take on new custoers so I'm guessing that Curly Wig is an offshoot company designed to keep gouging those of us who fell into debt difficulties.

Anyway, my question is should I pursue a PPI claim whilst in a DMP. Is it morally the right thing to do. Will I upset my creditors.

Hmmm, been a busy first few hours on the forum for me.:D

.

sickasachip13

Curly Wig....?! Are you pulling our legs?!

On your Qs - on reading up a bit about this it doesn't seem as though pursuing the PPI claim seems to upset creditors - to be honest, it's probably a different department/building/city to their collections department anyhow.

BUT, this is one of the reasons for this thread so we can support, advise and share info with each other.

Are you in?

PinotGrigio41

Count me in please. Bit rushed at the moment, havent got time to post at the mo . Thankyou !

sickasachip13

Right, well, I've sent off the CCA letters. One problem is that one of the accounts I am sure Mr SAAC had some PPI on is now closed and we don't seem to have any paperwork on it. I'm guessing that I just have to send off a letter ro RBS asking them about it - problem is that this sort of letter is very easy for them to ignore.

Hmmm. anyone anything to report?

BlushingRose

Nothing to report - other than the fact that Capital One have recently taken out a £70 PPI payment from the card - at the same time as asking us not to use it.
Mr BR will be writing to them to asking them to cancel the PPI with immediate effect.
That's also the PPI I want to see if we can claim back.