PPI Reclaiming Discussion Part 5

Malibu27

Hi I’m just after a quick bit of advice please. I made a complaint to NatWest regarding misselling of PPI on the basis that I was not told it was optional (they have provided the agreement which shows I ticked a box saying I understand it’s optional). I wasn’t made fully aware of the PPI and I was led to believe that I had to take it out (they have referred to the small print in the agreement which says that I understand it’s a “non-advised” sale) and I was not aware that I could shop around for the PPI, but, again, they have referred to some small print on the agreement which confirms that they are not responsible for the PPI being suitable for me and that it was my responsibility to check all exclusions etc. I was paying £50 per month for PPI when I could have probably got it for about £10 per month from a comparison website!
I must confess that I didn’t read the small print during the meeting, or after it, as I trusted everything that the advisor had told me i.e. that I needed the PPI to take out the loan. Do I have a leg to stand on with the Ombudsman? It frustrates me how just because they’ve ticked boxes and complied with everything (or so they say in their letter) and I’ve been young and naïve and gone alone with them and signed up for things that I didn’t really need.
Also, at the time, I lived at home with my parents. If I were to lose my job they could and would have continued to pay my payments for me until I found work again. Would this be an argument that I could use?
Your comments would be very much appreciated, but I very much doubt my complaint is going to go anywhere.

Thanks

[Deleted User]

Malibu27 wrote: »

Hi I’m just after a quick bit of advice please. I made a complaint to NatWest regarding misselling of PPI on the basis that I was not told it was optional

This is not a valid complaint reason, I'm afraid. You have to have been explicitly told it was compulsory and, even then, this is a hearsay complaint which is difficult to prove.

Malibu27 wrote: »

I was not aware that I could shop around for the PPI

Your lender is correct that it was up to you to shop around.

Malibu27 wrote: »

I trusted everything that the advisor had told me

This is not a valid complaint, unless the advisor misled you with untruths. Again, difficult to prove.

Malibu27 wrote: »

I lived at home with my parents. If I were to lose my job they could and would have continued to pay my payments for me until I found work again.

Can you prove that your parents would have been in a financial position to do this?

Malibu27 wrote: »

Your comments would be very much appreciated, but I very much doubt my complaint is going to go anywhere.

Your complaint is indeed very weak.
Assuming this was a loan (you don't actually say), did you have a single monthly premium which combined both PPI and loan repayments? If so, this was front loaded PPI and you have a case for mis-selling which you should write back to the bank about.
If not you can go to the Ombudsman, here's the link
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step4

Malibu27

I thought so, but thank you very much for your advice. It’s much appreciated.

Both my parents work, and worked at time, and would have been able to financially support me. I suppose bank statements would prove this?

It was a case of the advisor telling me that I needed PPI &I did feel pressured. I just ticked and signed the boxes as I was told to do. Unfortunately, there’s no way to prove this. I suppose it is my own fault and I have learnt my lesson.

I will try the Ombudsman, but I doubt I’ll get much further. Thank you any way.

girand

hello
please help.

EGG ppi

i had an egg c/c via an internet application in 2003.
have applied/complained for a refund/mis-sold stating poss part populated on internet application and all the other typical mis sell reasons.
egg sent a reply confirming i purchased ppi in june 2003 and
"our online sales process does not require me to take ppi as a condition of obtaining the card"
"does not provide an advisory service"
"required me to positively confirm that i wished to purchase this policy during the online application"
"provided full terms and conditions of the policy and requested i read them before submitting"

in light of the above are unable to uphold my complaint and confirm it to be closed blah blah blah.

this policy im 99% sure overlapped another ppi policy with an mbna c/c at the time(also with the fos at the moment)

i now have a complaint form from the FOS and just am looking for any pointers or advice before i fill it out please..
many thank in advance

amersall

american_bulldog wrote: »

The offer from blackhorse says less tax at 20% from the 8% Interest.The loans were in joint names for me and my wife,I pay tax at 20% my wife is registered dissabled and dosent work,will blackhorse have just thought we both payed tax at 20%.Or have I got this bit wrong.?

You need to contact HMRC and ask what you do in this circumstance, as you are the first named borrower I would think you are paying the tax, I could be wrong so give them a call and ask.

amersall

louiseedin wrote: »

I've started pre-emptively filling out the questionnaire. I have my credit card statements and remember the situation under which (in my view) I was missold. Based on that, do I need to request any further documents?
Sorry if I'm repeating old questions...

As you have the card number and reasons for mis sell, you do not need anything else.

amersall

Malibu27 wrote: »

I thought so, but thank you very much for your advice. It’s much appreciated.

Both my parents work, and worked at time, and would have been able to financially support me. I suppose bank statements would prove this?

It was a case of the advisor telling me that I needed PPI &I did feel pressured. I just ticked and signed the boxes as I was told to do. Unfortunately, there’s no way to prove this. I suppose it is my own fault and I have learnt my lesson.

I will try the Ombudsman, but I doubt I’ll get much further. Thank you any way.

As moneyineptitude posted, if this PPI was paid back each month in with the loan payment, this is Single Premium PPI and this is the reason you go back to the lender with and reject the reasons they gave for not upholding and ask them to look at the PPI being Single Premium.

amersall

If this was not a final response, the write back to Egg before you take this to FOS.
They cannot say that they "provided full terms and conditions of the policy and requested i read them before submitting" so use this reason, also, show that you could have paid the card back should the worst happen and you had no need of this PPI.

amersall

louiseedin wrote: »

Hello
I am in a bit of a confusing situation and wondered if anyone can help!
When I was resident in Ireland, I signed up for a Barclaycard at a shopping centre in Dublin. I was told the PPI was compulsory. Barclaycard in Ireland was taken over by Halifax. I moved to the UK. I continued to pay off this credit card until about two years ago when I got a loan to pay it off so, looking at some statements, it seems I paid a lot of money for something that I didn't think I had an option not to take.
Anyone have any experience of claiming back in this situation? And who would I approach? Halifax? Barclaycard? I'm thinking Halifax, but do I have a leg to stand on by going through the UK system or do I need to write to someone in Ireland?!
Any help much appreciated!
Louise

Send the complaint first to Halifax and see what they say, you could call them and ask if they can deal with this.
http://www.halifax.co.uk/contactus/howtocomplain/complain-about-ppi/

dean2230

My mrs has just sent off a claim to Mini Finance.

Its not about the money but priciple, she took out GAP (its shown GAP and life for just over £10 a month on top of her mini loan, it was never a seperate payment and when she settled early to buy a new car her finance was settled with no refund of outstanding monthly premiums (would have been 5 payments £50ish, the whole policy was only for £370.

What is annoying when she has got the loan agreement out is that the agreement quite clearly does not include the GAP but her direct debit did. worth a go but like I say principle and not sure if we have a claim I will let you know.