PPI Reclaiming Discussion Part 5

tree_man

Hi All,
Hope someone can guide me a little.
I have had 4 credit cards from different banks over the last few years, some concurrently.
I have almost all the statements showing that PPI was being charged although each of my agreements has no tick in the ppi box.
I have received the agreements from Barclays (originally an Egg card) and MBNA, but there is no mention of payment protection in any of them. The ppi box is not ticked on the hand written applications.
Each bank has enclosed a FAQ sheet about the Ombudsman, the original credit agreement (generally photocopied reduced size and almost illegible), my "up to date" Ts & Cs and my last statement (card accounts are now closed).

1. Do I need to contact each bank again and ask for the PPI Ts and Cs so I can be sure whether I was covered as a self employed person?
2. Will this cost me £1 again?
3. I remember being phoned and 'encouraged' to go for the payment protection by the bank, even though I was self employed at the time, but how do I know what the cover was without the agreement?

Thanks for any help on this
Tree Man

Little_Mo_70

goosenman wrote: »

Sorry. I had posted in the wrong place

I hope this is the right place. I'm just wondering if I even have the right to claim back my PPI - but it's a little more complex now.

I have two Barclaycards - a Platinum which I've had since 1995, and a normal one, which was actually an Egg card that became a bog standard Barclaycard when Egg were purchased. The platinum had, as far as I can remember, PPI on it since I got it, as I was only about 20 at the time and didn't even know you didn't have to have it on. I admit I didn't research it to see if I had to have it either. The balance at this time is £0.

The Egg/Barclaycard also has PPI on it but as I was made redundant last week, I am attempting to actually use the PPI to cover me until I get back to work as the balance on this card is high. I've got a Job Seeker interview and my claim regarding THIS card has been lodged. (It was while discussing this policy with their insurance company that I discovered my other card had a policy on it which dated back to August 1995)

Is there any point in me attempting to claim back the PPI on the Barclaycard Platinum? Over the years the balance has been up and down, as I've paid it off or move balances but at times, it's been as high as £4,000 - and I assume, payment protected at that time, which I have been paying for.

If I do start a PPI claim process, is that going to negatively affect the 'proper' claim on the other card?

I'm sorry if this is in the wrong place or has been answered many times. To be honest, I'm still recovering from losing my job of 22 years with about 6 minutes notice.

Many thanks.

Sorry about your job loss. We are going through horrible times just now. Good luck with finding another job soon.

I don't know much about PPI but personally I feel that, it might be a bit risky to put in a claim just now. Perhaps it might not affect your claim but I'm not sure.

You are calling upon your Egg (Barcs) PPI to see you over this difficult period and it might be difficult to prove you were mis-sold the Platinum as you were happy with one but not the other. Personally, if it were me, I wouldn't risk losing the protection when you need it the most. No doubt there are others on the forum who may know more about this.

Good luck
Mo

amersall

Rone wrote: »

We have been turned down by loans.co.uk for 1 PPI claim which is now in the hands of the Onbudsman. Just received our second PPi loan claim refusal with the same company which is stating that they have a recording of my conversation with their member of staff when purchasing the loan over the phone , they have also said they are going to post the CD for me to listen too, they have turned our 2nd claim down , they state that this is thier final response ,when I recieve it should i still forward it to the onbudsman ... There are a number of reasons we are claiming 1) the insurance only covered 5 years of 10 yr large loans 2) I am second named on it retired due to ill health on a pension so would not be able to claim for anything named.... I am so confused??????

Write back to them rejecting the reasons for not upholding, there is no phone call anywhere with this PPI where the advisor explains the full cost of this PPI.

This is Single premium PPI and is the most upheld of all PPI claims.

If you had a cash back or bonus offer with this Loan, then write back, put both Loan account numbers and ask them to look at these claims again.
Send a copy of this to the FOS to go with the claim you have with them and let them know that these are the reasons for the complaint regarding the mis sell.


We/i reject your reasons for not upholding My/Our claim for PPI mis sell for loan number (s) xxxxxx, We/I do not accept the PPI was not mis sold because of the reasons below and ask you to reconsider the offer or We/i will pass this to the FOS for a second opinion.

We/I would like proof to the contrary of my/our reasons for mis sell of the above PPI .


1)We/I were not told that the ppi was in effect another loan that was added to the original loan and was repayable over the term with interest

2) We/I were told that the ppi was a 5 year policy, but not told the ppi would still be on the loan to term end with interest and would no longer have cover.

3) We/I were told that if we did not make a claim,or go into arrears on the ppi ,after 5 years we would receive the cashback of ppi but were not told this would not include the interest made on these payments that we paid over the 5 years or that the PPI would still be on the loan to term end with interest.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:
A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been needed, if the original loan had been sold without the PPI policy.

In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that Loans.co.uk pays them back to us. We/i believe we were not given enough information on this ppi to make an informed decision. Had we/i known the full cost of this ppi we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for my/our circumstances we/I will require you to rearrange the loan as if PPI had never been included.

amersall

AdamZ wrote: »

Hi Everyone,

I am very new to the forum. I spent all night here but still can't understand how to fill out the questionair FORM sent to me by Barclays.
In other words, i don't want to give the wrong answeres just in case my claim go rejected.

Though this request may sound very stupid ..forgive.. but i need some help here.

All you have to do is put the account number and the reasons for mis sell, if this was a Loan the PPI may have been Single Premium if the PPI was paid in with the Loan monthly payment, this is the reason you use.
If it was a CC then use the card number and give the reasons why you were mis sold this, you do not need to know anything else such as the year you took it out or the PPI document number unless you know these, anything you do not know then just put that you cannot remember.

amersall

oakshot wrote: »

Hi all,

This is my first post on MSE so hoping for some advice!

I sent a written requested to MINT for a copy of the credit agreement/term & conditions of a credit card account I had between 2004 & 2006, which I believe I paid PPI on.

They have replied saying, “that as the account was fully paid up in 2006 they have no obligations to provide this information”. What should I do next!

I also had a mortgage account with Northern Rock between 1992 & 2008. I feel sure I paid PPI but have no paperwork to prove this. What would be the best way of finding out whether I did or did not pay PPI?

With the NR Mortgage only clearing in 08, call NR and ask if they can find you.

With the credit card, you need to send a Sar and request all info they hold on you not just the agreement, enclose £10 and give them 40 days to respond

https://forums.moneysavingexpert.com/discussion/1475553

Cvsc

I recently sent a SAR to Black Horse and they have very kindly sent me all my loan agreements dating back from 1997 through to 2004. There are 5 loan agreements all of which have PPI added on them (Front Loaded). How do i work out from the single amounts how much is possibly owed to me as i believe these were mis sold on the grounds of being front loaded and never having its suitability being discussed with me just added without my knowledge.The amounts are as follows:
1997, PPI= £879.13,
1998,PPI=£349.07,
1999,PPI=£1230.01,
2003,PPI=£455.37,
2004,PPI=£801.56.
Thanks for your help in advance.

amersall

Cvsc wrote: »

I recently sent a SAR to Black Horse and they have very kindly sent me all my loan agreements dating back from 1997 through to 2004. There are 5 loan agreements all of which have PPI added on them (Front Loaded). How do i work out from the single amounts how much is possibly owed to me as i believe these were mis sold on the grounds of being front loaded and never having its suitability being discussed with me just added without my knowledge.The amounts are as follows:
1997, PPI= £879.13,
1998,PPI=£349.07,
1999,PPI=£1230.01,
2003,PPI=£455.37,
2004,PPI=£801.56.
Thanks for your help in advance.

Hi, you will get if you win, the whole PPI amounts back, less any rebates they gave you for each Loan when you paid it off with the next one, plus the 8% interest.

Cvsc

amersall wrote: »

Hi, you will get if you win, the whole PPI amounts back, less any rebates they gave you for each Loan when you paid it off with the next one, plus the 8% interest.

Hi Amersall, So its the total amount less rebate plus 8% of the final total. So the bit i dont understand is when the banks,financial institutions pay interest upto the day they send the cheque out, what interest is that then? Sorry if its sounding confusing.

amersall

wanderer56 wrote: »

Hi
I have been wondering if I should (or if I have a case) to try and claim back PPI? I will be as honest as I can from what I remember when taking out my loans with Nat West. I have had four loans with Nat West from 2005 to 2010. The last three loans where consolidated loans from the original one all Settled then re-started with new loans. I don't have any of the paper work, but I have put in a request for this as advised on this site. When I took out the loans I can't honestly remember what questions they asked me about my circumstances when selling me the PPI? but I obviously agreed to take it. Now having read lots of advise on this site into how I may have been mis sold the PPI.I was wondering if to purse a claim based on how I feel I may have been mis-sold it in the first place. 1. I was and am still in full time employment with a package for sickness cover NB: this is only for 3 months full and 3 months half pay. However my redundancy package is very generous plus I have death in service cover. 2. My family would have helped should I have not been able to make my loan re-payments. I can back this up with the fact that my Wife decided to pay off my last loan early on my behalf which had 3 to 4 years to run on it.(sum of approx £5.000) 3. I also don't recall the lender/seller advising me that I could take out PPI via another provider/insurance company to try and buy cheaper cover. To the best of my knowledge I don't remember being asked or advised about the above before I signed up for the PPI with Nat West. Are these claims valid in your opinion or is my claim not worth pursuing? Many thanks for reading and your advise is very welcoming.

You have valid reasons and I would put the claims in, did you pay the PPI in with the Loan monthly payment?, if you did then this is Single Pemium PPI , this was a Loan on the Loan that you paid back to term end with interest, if you wanted to cancel this PPI they would have given you a rebate of the PPI but the remaining PPI would still have been on to term end with interest, the same when you settled, you got a rebate but paid the remaining PPI back in the settlement figure, if your PPI was paid with the Loan as one payment, then use this SP as a reason for mis sell.

amersall

Mothermercury30 wrote: »

Hi all

I have just received an offer of PPI refund for my credit card. The amount is fairly substantial, and my question may be more straightforward than I think:

I am in debt management, and the agreement is going very well. The amount I am being refunded will clear one of my creditors in it's entireity, with over a thousand pounds left over. My question is- if I have other accounts in debt management with RBS, will they retain all the money for offsetting, or will they refund the rest to me?

Sorry if this has already been asked. Thanks all.

The refund will go to the debts, give the bank a ring and ask how they will do this.