PPI Reclaiming Discussion Part 5

soulman2

I have accepted a payout for miss sold PPI however the bank has said that it will only review payments going back 6 years (which the payout covered). I have had the credit card for a total of 18 years and when i asked them to look into the remaining 12 years they old me that unless i had any statements they would not go back further than the 6 year mark.....is there something i can do as i do not have statements for this period. I have also been told that their records only cover 6 years, surely there must be some "Archive" records going back further.

amersall

kerakae wrote: »

So...what does a PPI payment look like on your credit card statement? I've got all my Nationwide credit card statements going back for about a year and a half, although I cancelled the credit card about a week ago. I still have my agreement, but it doesn't say anything about me taking the insurance out, just "If you take out payment protection insurance..."

There are no charges under "Fees," and I'm guessing it would come under this. I don't think I took it out, but can't remember what the hell I did as it was back in 2008.

Just like to say as well, discovered MSE.com about a month ago when comparing new phone contracts, and I think it's a great website. My money saving skills, which are notoriously appalling, have vastly improved to the point of budgeting and finding the best deal. Not only and improvement on finances, but improving my relationship with my girlfriend too

Cheers

Kerakae

If you have ppi it will show on each statement, it will not be interest, look for some form of insurance.

harrpau7

beamerguy wrote: »

AT LAST THE FSA HAS ACTED

:T:T

Banks HAVE to write to all PPI victims

Millions of people who may have been mis-sold Payment Protection Insurance are to receive letters telling them they may be eligible for compensation.

The Financial Services Authority is expected to tell banks what the letters should say, in a move that is likely to trigger an estimated £3bn worth of additional claims.

WATCH HERE
http://www.bbc.co.uk/news/business-17268454

READ THIS
http://www.moneysavingexpert.com/news/reclaim/2012/03/fsa-orders-banks-to-not-mislead-over-ppi-redress?utm_source=forum&utm_medium=sidebar&utm_campaign=box

Basically this means that day of the "FOB OFF BY BANKS" has come to an end. If you have been "fobbed off", all you need do is contact your bank and say you are waiting for the letter as instructed by the FSA

Another good thing that was said today by the FSA and FOS is DO NOT USE CLAIMS COMPANIES The sudden death for these vultures

This is going to cost those thieving banks many more £millions this year:rotfl::rotfl::rotfl::rotfl:

Does this mean that any claims currently still active are even more likely to be upheld?

amersall

Angelfalls2012 wrote: »

Hi
Ive been reading about PPI claims. I was sold a PPI when i currently took out my morgage in 2003. We got the ,morgage through a broker, do i make a claim to the broker, the mortgage lender or the insurance company that is on my Payment Protection Insurance certificate?
Any advice would be appreciated.
Thanks in advance

Post your question here

http://forums.moneysavingexpert.com/forumdisplay.php?f=187

They know more about mppi to help you with this.

amersall

Sc0ward wrote: »

Hi,

Been reading through the posts on here, i know i've had loans and credit cards in the past but i have no paper work for tem anymore, is there anyway i can find out what credit cards and loans i've had to i can make a start on sending off my claim forms?

How old were they?, this will help to let you know what to do.

amersall

malamutesamoyed wrote: »

I took out a secured loan for £45,000 with £15,923.25 PPI (£60,923.25)

Start date was november 2006 and i have been up to date with all payments so far, i have put in a claim and received the following;
Original policy - £15,923.25
Interest incurrd - £8,039.80
Total value - £23,963.05
Separate 8% p/a interest of - £2,087.22

The company will adjust the loan with the £23,963.05 and payment to me for £2,087.22

Is this a fair settlement or should i consider going to the ombudsman?

This is full redress as the FOS ruling.
The loan will have the total ppi payment taken off and your monthly payment will reduce by the ppi amount.
They are resetting the loan and giving you back what you have paid in ppi to date.
The extra interest they are putting back into the loan is for the ppi interest that, had you not had the ppi then the loan would not have reduced by this amount, that is why you do not get this back.

The 8% is taxable so you should inform HMRC to pay this if the bank do not take it off before they give this to you.
What was the original loan term and ppi monthly payment?

floydfan

Moneyineptitude wrote: »

None of the "stumbling blocks" are essential to your claim. They certainly don't need a breakdown of exactly what you borrowed the money for. Your employment details are asked for because it might determine whether you could have actually claimed on the insurance, but if you weren't self employed (or retired) it makes little difference. I'd just put the nature of your work if you can't remember your actual employer at the time. It's the same with arrears and missed payments; they don't need dates for missed payments that were subsequently caught up on shortly afterwards.

For section E, "About your complaint", the reasons you have given are legitimate though hard to prove.
You can look for more reasons that may apply here:
and be sure to note whether your PPI was "front-loaded" to incur interest.

Thank you for your response Moneyineptitude.
After further forum reading, I have discovered, what may be further mis-selling reasons, could you please advise on their strength and any wording you would use for the complaint. Sorry to be so needy but I promise I have spent hours trawling the forums for the specifics.
The Barclayloan protection is provided by Barclays Insurance (Dublin) and was paid for by one premium, which was loaned to me as part of the Barclayloan and called ‘premium loan’ the rest of the loan was ‘cash loan’.
The Halifax Credit Card application form has a pre-checked box for the ppi with no seperate signature, just signed and dated at the bottom of the card application form.
Thanks again, for any advice.

amersall

steve_eade wrote: »

I have accepted a payout for miss sold PPI however the bank has said that it will only review payments going back 6 years (which the payout covered). I have had the credit card for a total of 18 years and when i asked them to look into the remaining 12 years they old me that unless i had any statements they would not go back further than the 6 year mark.....is there something i can do as i do not have statements for this period. I have also been told that their records only cover 6 years, surely there must be some "Archive" records going back further.

You would have to Sar this

https://forums.moneysavingexpert.com/discussion/1475553
Enclose £10 and give them 40 days to respond.
You may get some more statements with this from the 6 years previous to your redress, but you may not.

Tod4444

Hi
I've just finished my mortagage with Nationwide and changed to HSBC, in other words remortgaged.
I checked my Nationwide documents and I had a repayment mortage on fixed rate and a further advance on the same rate. I was paying PPI on the mortgage but not on the further advance. Both were taken out at the same time and I don't know why I had it one one but not the other. Do you think I should put in a claim?
I also used to have MBNA creidt cards one fo them may still be active (I need to check). As they both had zero balances and I wasn't using them I shredded the statements ages ago. Did they charge for PPI as the standard and should I put a claim in with them as well?
Thanks in advance.

ageing_biker

Hi, not sure if this has been discussed anywhere else on the forum but after having success with PPI reclaims I was wondering if it would be worthwhile trying to reclaim income protection insurance I feel I was mis-sold with my mortgage. Does anyone have any experience with claiming for this type of insurance. Any advice would be greatly received.

Ageing Biker