PPI Reclaiming Discussion Part 5

[Deleted User]

MummyMarmite wrote: »

Do I have any rights to ask them to reduce their percentage cut given the delay?

Unfortunately, you have completely misunderstood exactly what a Claim Company is and does.


You've employed this Claims Management Company simply to represent you in any complaint you might make. It is not the Claim Firm which determines whether you are "entitled" to a refund, all they have done is encourage you to make a complaint. The contract you have signed will make no mention of any guaranteed success.

Your actual complaint is with the Bank who (allegedly) forced you to take Life Insurance. The Bank have fully eight weeks to consider any complaint.They will take this long at least.

Since any "delay" is also outside the control of the Claim Company, you won't be able to negotiate any reduction in their fee regardless how long it takes.

In addition, I wouldn't be too certain that you will actually receive anything at all. The Bank is almost certainly going to reject your complaint either because there is no evidence that you were told insurance was compulsory or, indeed, that it was compulsory as a condition of the particular mortgage you purchased.

Life Insurance is not PPI and, frankly, your "complaint" has little chance of success.

The Claim Company is not a "scam" unless you have paid money upfront to them. As long as it is no-win, no fee you will have lost nothing when your complaint fails.

dunstonh

CSE Solutions informed me that this was definitely miss-selling and that I was entitled to compensation

Life assurance is not PPI. So, there is your first issue about making a PPI complaint.
Secondly, lenders used to require life assurance as a condition of borrowing. They still do on a small number of cases. They are allowed to do this.

Telling you that you were missold PPI when you didnt even have it is a breach of the code of conduct.

hey assured me that it would take between 5-25 days to receive compensation payment

This is a breach of the code of conduct as they are not allowed to give unrealistic timescales.

. It is now 10.4.19 and I have still not had any payment. I have emailed and telephoned them several times asking why this is taking so long and they just say that they haven't heard from the bank yet.

Have you heard from the bank?

Upon receipt of a complaint, the bank must acknowledge to the individual that they have received the complaint and explain the process to you.

If you havent heard anything from the bank, then its likely that the bank havent received the complaint themselves yet.

It sounds like you have been missold by the claims company as they have breached the code of conduct multiple times.

Putting in a PPI missale complaint about life assurance is daft. Response from the bank going to be "this is life assurance, not PPI. We cant find any PPI on your account". Putting it another way, its a bit like buying a loaf of bread from Tesco and then putting in a complaint that it didnt taste like Beef stew.

[Deleted User]

dunstonh wrote: »

Telling you that you were missold PPI when you didnt even have it is a breach of the code of conduct.

It's not clear whether the OP was told it was PPI or he just assumed. As you know, it's possible to complain that any financial product was mis-sold. So the OP was at liberty to complain about Life Assurance, how ever unlikely it was to succeed.

dunstonh wrote: »

This is a breach of the code of conduct as they are not allowed to give unrealistic timescales.

I doubt the timescale quoted was on the contract or even in writing and, again, the OP seems confused about the whole process.

dunstonh wrote: »

If you havent heard anything from the bank, then its likely that the bank havent received the complaint themselves yet.

That is indeed a possibility.

Jona78

Hello all,


I think I may have dropped a clanger whilst using the claims guys to look into PPI for me, I am currently on a DMP (Stepchange) and it has come to my attention that any money owed may be offset from my debts leaving me with the 25% charge to pay. I understand this would help in the long run as my debts would be lower but in the short term it isn't something I can afford. The debts in question were originally with Lloyds but have since been passed on to Moorcroft so my question is if I am entilteled to anything from Lloyds will they send that to Moorcroft instead of me? I have the option to cancel witht the claims guys but their T+C's state there would be a charge for doing this which is fair enough. Please can anyone who has been in a similar situation offer any advice?
Thanks

dunstonh

I think I may have dropped a clanger whilst using the claims guys to look into PPI for me, I am currently on a DMP (Stepchange) and it has come to my attention that any money owed may be offset from my debts leaving me with the 25% charge to pay.

That is correct. However, the CMC should verify that with you first and provide you with a warning that is going to happen. So, you may have some scope to accuse the claims company of misselling you their services.

if I am entilteled to anything from Lloyds will they send that to Moorcroft instead of me?

They are allowed to set it off against the debt. We cant say for sure whether they will or not.

Nasqueron

Jona78 wrote: »

Hello all,


I think I may have dropped a clanger whilst using the claims guys to look into PPI for me, I am currently on a DMP (Stepchange) and it has come to my attention that any money owed may be offset from my debts leaving me with the 25% charge to pay. I understand this would help in the long run as my debts would be lower but in the short term it isn't something I can afford. The debts in question were originally with Lloyds but have since been passed on to Moorcroft so my question is if I am entilteled to anything from Lloyds will they send that to Moorcroft instead of me? I have the option to cancel witht the claims guys but their T+C's state there would be a charge for doing this which is fair enough. Please can anyone who has been in a similar situation offer any advice?
Thanks

Did you tell the CMC that you were in a debt plan? That will be crucical, they should not have taken it on if they knew

AgileWarrior

We got our mortgage via a mortgage broker, who also arranged PPI (with a separate company from the mortgage provider). When reclaiming PPI, should we claim against the mortgage broker or the PPI provider?

-taff

You do not 'reclaim' PPI, you complain it was missold. The seller has liability, so you complain to the broker. However, brokers were not regulated until 2005. Also, brokers were allowed to 'charge' you for their advice as long as you bought insurance from them. |Cast your mind back to see if either of these apply before you complain.

[Deleted User]

AgileWarrior wrote: »

We got our mortgage via a mortgage broker, who also arranged PPI (with a separate company from the mortgage provider). When reclaiming PPI, should we claim against the mortgage broker or the PPI provider?

When complaining of mis-selling you complain to the seller, which would be the broker in your case.
Note that, if your mortgage was taken out prior to 2005, the broker won't have to even consider your complaint as they were not regulated prior to that date.

Nasqueron

AgileWarrior wrote: »

We got our mortgage via a mortgage broker, who also arranged PPI (with a separate company from the mortgage provider). When reclaiming PPI, should we claim against the mortgage broker or the PPI provider?

Just to add to the above posts, MPPI is an incredibly good package to have, hence why it's still retailed today. You would have to have some very good reasons as to why it was miss-sold to have any chance. People with NHS benefits like 6 months full 6 months half sick pay have MPPI complaints turned down because it's such a huge debt that lasts so long that if you were unable to get paid for a substantial length of time you would literally lose the roof over your head. Think long and hard before you put in a complaint to someone who has given you cover that could keep you off the streets.