PPI Reclaiming Discussion Part 5

TomPPI

Hi there I'm in the middle of doing a self ppi claim with resolver as suggested in one of Martin's newsletters. I just had a couple of important questions in order to know how best to proceed.

If i didn't complete my loan repayments beyond two years of paying them back diligently and then defaulted, am i still able to claim for ppi against said loan. Also does the loan reactivate (it's been over 7 years with its statute of limitations even though i got a ccj by default) as i go through this process, or is there any danger of that..

Lastly what happens now after completing the form and sending the bank replied to me saying that they had received it and were looking into it and would get in touch or call me, but i haven't heard anything at all from them.

I also have to go through the process of getting the ccj in relation to this revoked as it was always beyond the statute of limitations i just didn't get the correspondence concerning it as i was overseas.

TomPPI

One last thing.. the last letter i had in relation to the loan was from a collections agency who were offering me to settle the loan for £300 about 10 percent of what it actually represented. What happens in this instance. Will the money from Ppi go against the original amount or the eventual sold debt amount, and is it even worth going through with if i'm not going to be repaying it anyway due to its age. Are you able to cancel these things? It's beginning to seem more trouble than it's worth!

Also the form from resolver says that i can now escalate to the Fos is it worth doing that yet or should i wait to hear back from Loyds.

Also is it better to close this account after all this has been done for my credit rating.

Thank you so much for your help.

Tom

[Deleted User]

The redress will go towards the original sum.

If you go to FOS now, you will go to the back of the queue. Wait for a response.

bmac

Contemplating a credit card PPI claim. Trouble is, the PPI ran from November 2001 (to Feb 2013) and I have no recollection what the basis was for taking out the PPI with Barclaycard Visa in the first place.
Three things:
1. Can't have been for unemployment as I was covered by a permanent health insurance income policy (and was until 2016);
2. Won't have been for health because of 1. above and anyway I had pre-existing medical conditions the basis of 1. above about which I was certainly never asked; and
3. Presumably means I took it out because of concerns about fraud/theft but, I now presume, I was covered for fraud/theft by the terms and conditions of the credit card anyway.
Would this last point be true and was I therefore paying for something for which I was already covered. And, if so, how on earth do I prove that seventeen years after the policy started?

[Deleted User]

Your health insurance wouldn't have covered you for unemployment, so it was probably that.

bmac

Deleted_User wrote: »

Your health insurance wouldn't have covered you for unemployment, so it was probably that.

I was permanently unable to work and the policy covered my income until I retired in 2016. I was not employed and therefore could not be unemployed.

Nasqueron

bmac wrote: »

Contemplating a credit card PPI claim. Trouble is, the PPI ran from November 2001 (to Feb 2013) and I have no recollection what the basis was for taking out the PPI with Barclaycard Visa in the first place.
Three things:
1. Can't have been for unemployment as I was covered by a permanent health insurance income policy (and was until 2016);
2. Won't have been for health because of 1. above and anyway I had pre-existing medical conditions the basis of 1. above about which I was certainly never asked; and
3. Presumably means I took it out because of concerns about fraud/theft but, I now presume, I was covered for fraud/theft by the terms and conditions of the credit card anyway.
Would this last point be true and was I therefore paying for something for which I was already covered. And, if so, how on earth do I prove that seventeen years after the policy started?

1) PHI is not PPI. PPI covered loss of job, PHI covers ill health not loss of job
2) PPI was rarely an advised sale, they don't need to ask about health
3) PPI didn't cover loss of card/fraud - that is more like CPP which have separate cases and these are again not PPI

Nasqueron

TomPPI wrote: »

Hi there I'm in the middle of doing a self ppi claim with resolver as suggested in one of Martin's newsletters. I just had a couple of important questions in order to know how best to proceed.

If i didn't complete my loan repayments beyond two years of paying them back diligently and then defaulted, am i still able to claim for ppi against said loan. Also does the loan reactivate (it's been over 7 years with its statute of limitations even though i got a ccj by default) as i go through this process, or is there any danger of that..

Lastly what happens now after completing the form and sending the bank replied to me saying that they had received it and were looking into it and would get in touch or call me, but i haven't heard anything at all from them.

I also have to go through the process of getting the ccj in relation to this revoked as it was always beyond the statute of limitations i just didn't get the correspondence concerning it as i was overseas.

If the bank has any claw back rights of the debt then the refund will be offset against the debt. Statute of limitations etc is irrelevant, they will still do it if they can - logically you are asking for a refund of money you never paid.

CCJ is unrelated to this, the fact you were overseas is a matter for the court, if you knew you had this debt and didn't leave a forwarding address then CCJ issued by default is normal just like as if you didn't attend

bmac

Nasqueron wrote: »

1) PHI is not PPI. PPI covered loss of job, PHI covers ill health not loss of job
2) PPI was rarely an advised sale, they don't need to ask about health
3) PPI didn't cover loss of card/fraud - that is more like CPP which have separate cases and these are again not PPI

So, if I couldn't lose a job I didn't have there was absolutely no point in having PPI on my credit card? I had been on the permanent income insurance policy (and not working) since 1998.

Nasqueron

bmac wrote: »

So, if I couldn't lose a job I didn't have there was absolutely no point in having PPI on my credit card? I had been on the permanent income insurance policy (and not working) since 1998.

If you took out the policy while you were already signed off work, then yes it would most likely be invalid but why did you do that?

Did you tell them you were not working when applying for the card? If the PPI wasn't sold with the card it might have been activated on the phone soon after - did you tell them that when you took out the PPI policy?