PPI Reclaiming Discussion Part 5

Glaws07

Hi
I just had a successful ppi claim with M&S bank. I was told in my award letter that it was a full & final settlement, but I could refer to th ombudsman if I wasn’t happy. They explained the breakdown of the payment and part of it was based on 8% interest. I received a cheque, which I’ve cashed and everything was hunky dory. However, I have just read on the ombudsman’s website that in the event that they make an award it would be based on 15% interest if the case was pre 1994. Mine was 1986. My question is, does anyone think I might be able to refer to the ombudsman or is it too late because I’ve cashed the cheque?
Peter

-taff

When you accept it, it's usually in full and final settlement, although there's no harm in wiriting a letter and pointing out they got the interest portion wrong.
It's not payable for every year, just up to the year they've decided [can't remember what it is exactly offhand]

dunstonh

How is it, that when contacted by cold callers, they appear to know my entire credit history and who I had loans with dating back decades, yet when I contact the said bank myself (yorkshire) they state they have no records dating back that far?

Some cold callers make it up. Statistically, picking one of the big banks covers most PPI complaints. Some get you to name it in conversation without you even realising. Some have got hold of data illegally. Some check the land registry records which will tell them your secured loan details (not whether you had PPI or not).

Also and very strangely, they told my wife that she had a loan taken out in her name dating back over 10 years ago, yet to her knowledge she never had.

Part of the lies they get to sign you up.

Simon_Potter

Hi, I wonder if anyone could advise me on the following question: Many years ago I had loans from Lloyds Bank. I remember quite clearly that they offered me PPI which I declined and this was accepted by Lloyds. However I was persuaded to take out an Income Protection Plan through Black Horse Life. This I agreed to and had this cover for many years until I recently gave up full time work and cancelled the policy. My question is, is this the same as PPI? And am I able to claim for mis-selling as I would if I had taken PPI?

[Deleted User]

No. .

dunstonh

Simon_Potter wrote: »

Hi, I wonder if anyone could advise me on the following question: Many years ago I had loans from Lloyds Bank. I remember quite clearly that they offered me PPI which I declined and this was accepted by Lloyds. However I was persuaded to take out an Income Protection Plan through Black Horse Life. This I agreed to and had this cover for many years until I recently gave up full time work and cancelled the policy. My question is, is this the same as PPI? And am I able to claim for mis-selling as I would if I had taken PPI?

The Black Horse Life income protection plan was a PHI policy. Not PPI.

For a bank product, it was actually quite good. It came from the era before mass selling when certain banks actually retailed decent financial products.

PHI is regarded as one of the most important insurances you should get. You cannot compare it to PPI. It suffers none of the same issues.

pugsydog

I had a mortgage with Halifax. It was an endowment. I know we paid ppi but they say not because I can’t provide any paperwork. We paid it off years ago and the paperwork was burned. Any ideas what I can do?

[Deleted User]

If you can't provide evidence, you could gamble £10 on a SAR. I suspect it would be £10 in the bin.

On a positive note, chance are good that you weren't mis sold.

dunstonh

pugsydog wrote: »

I had a mortgage with Halifax. It was an endowment. I know we paid ppi but they say not because I can’t provide any paperwork. We paid it off years ago and the paperwork was burned. Any ideas what I can do?

There is no PPI on the endowment. That is not possible. If you had PPI, it would have been a standalone plan.

If you have no evidence and they have no evidence then its game over.

astrowanderer

I used to run a limited company which has been closed down several years ago.

I was sold a personal bank loan by Lloyds TSB to try to keep the company afloat due to bad debt and forced to take out a meaningless PPI which I did argue with at the time but told no PPI no Loan. So I complied.


1) Can i claim for that PPI as it was personal loan using personal assets as collateral (i.e. House)
2) can i claim against LLoyds TSB which does not exist anymore?


I did make this inquiry of a PPI cold caller and told no.