PPI Reclaiming Discussion Part 5

confusedoldbloke

I filled in a form that might have started a check with my provider HSBC.

Going back to mid-late 90's i know i took out a loan, took out a credit card, and then another loan.
Credit card was ok, first loan was ok, and then some 'helpful' telephone discussion resulted in them combining the existing loans and whatever was on the credit card into one larger loan.

Sounded great at the time but i fell into a not terribly great financial situation thereafter.

That made it very difficult to keep up repayments on something that became a huge burden and it seemed to get bigger and bigger, and eventually HSBC passed it on to a debt recovery company afterwards, which had me tied up for years.
I eventually got out of that towards the end of the 2000's.

I have never had any loans since and only have one credit card with someone else.

Long story short, although i have started a 'check', I am not sure where i stand, or if i have to do a separate check for each loan and the credit card or if 1 check is enough to find all, or if it is too long ago, or is the check just going to roll the loans and credit card into one 'thing' at the end - and whether that is a good thing or not?

Just not really sure if I am going about this the right way.
:huh:

Gilly_flower

My partner had several loans with NatWest in the 90s/00s but I'm not sure I have details of all of them.

Should I:
(1) Use Resolver and put in claims for the 2 I definitely know had PPI , then send a further 'have I got outstanding PPI' general enquiry using NatWest's online form, or
(2) Put details of all known loans (3) onto the bank's enquiry form, as they will automatically escalate the enquiry to a complaint.

With time running out I really want to make sure the process is started asap & in the best way.
Thankyou!

amersall

Go direct to Natwest for query and complaints, job done.

-taff

confusedoldbloke wrote: »

I filled in a form that might have started a check with my provider HSBC.

Going back to mid-late 90's i know i took out a loan, took out a credit card, and then another loan.
Credit card was ok, first loan was ok, and then some 'helpful' telephone discussion resulted in them combining the existing loans and whatever was on the credit card into one larger loan.

Sounded great at the time but i fell into a not terribly great financial situation thereafter.

That made it very difficult to keep up repayments on something that became a huge burden and it seemed to get bigger and bigger, and eventually HSBC passed it on to a debt recovery company afterwards, which had me tied up for years.
I eventually got out of that towards the end of the 2000's.

I have never had any loans since and only have one credit card with someone else.

Long story short, although i have started a 'check', I am not sure where i stand, or if i have to do a separate check for each loan and the credit card or if 1 check is enough to find all, or if it is too long ago, or is the check just going to roll the loans and credit card into one 'thing' at the end - and whether that is a good thing or not?

Just not really sure if I am going about this the right way.
:huh:

If you defauted [and you did] on any credit you had with them, any redress will first go towards that, if it the debt was sold on and mot outsourced.
Just phone them and complain over the phone.

Ianto1968

I've given up on PPI. The new law on insolvencies, mine was 2002, ensures that the banks get a good lot back.
The law only affects PPI. If I won lottery, they wouldn't want it.

If you were made insolvent after you took out PPI is goes to the receive who gives it to creditors.

Who's a creditor in nearly all bankruptcy THE BANKS

SonOf

I've given up on PPI. The new law on insolvencies, mine was 2002, ensures that the banks get a good lot back.

If the bank was a creditor then they would get back a share divided between all the creditors.

That is only fair.

Who's a creditor in nearly all bankruptcy THE BANKS

But rarely the only one. So, all the others that lost money when you went bankrupt get an amount back.

All very fair. You were not suggesting that you should see the refund were you?

Bit

Hi All, this is my first post so I hope I have posted it in the correct place. I just wanted some quick advice about whether I should look into putting in a PPI claim.
Lloyds Bank contacted me a few years back to inform me that I had PPI on my credit card. This was news to me at the time as I was never aware that I had this. Anyway, I put a complaint in at the time following their standard procedure and their response was that I didn't make any payments towards the policy and therefore have not suffered any financial loss. At the time I just took their word for it and didn't pursue the matter any further but being a little older now (yet none the wiser) just wanted to make sure that I have done the right thing particularly given that the deadline is just around the corner? Can it be possible for them to add the insurance onto the credit card without taking any premium. Unfortunately I don't really recall whether I did make any payments although I did not really use the credit card much. Any thing I should be considering? Hope all this makes sense!

The_squirrell

Bit wrote: »

Hi All, this is my first post so I hope I have posted it in the correct place. I just wanted some quick advice about whether I should look into putting in a PPI claim.
Lloyds Bank contacted me a few years back to inform me that I had PPI on my credit card. This was news to me at the time as I was never aware that I had this. Anyway, I put a complaint in at the time following their standard procedure and their response was that I didn't make any payments towards the policy and therefore have not suffered any financial loss. At the time I just took their word for it and didn't pursue the matter any further but being a little older now (yet none the wiser) just wanted to make sure that I have done the right thing particularly given that the deadline is just around the corner? Can it be possible for them to add the insurance onto the credit card without taking any premium. Unfortunately I don't really recall whether I did make any payments although I did not really use the credit card much. Any thing I should be considering? Hope all this makes sense!

You say that you didn't use your card much. Did you pay off the balance each month? If you did, then you would not have paid any premiums which would explain this response.

Bit

Thanks for your response Squirrell. Yes I would have paid off any balance I owed as this is generally my habit. So, in this case, am I right in thinking that there is no point in pursuing this any further as even though they included PPI on my credit card without advising me, I was 'lucky' by paying any balance off each month and hence got off with not having to pay any premium?

SonOf

Can it be possible for them to add the insurance onto the credit card without taking any premium.

Very common. The PPI premium is only levied on the card if you borrow on it (i.e. dont pay it in full).

am I right in thinking that there is no point in pursuing this any further as even though they included PPI on my credit card without advising me

Redress is a refund of premiums paid plus interest. So, a refund of £0 plus £0 is £0