PPI Reclaiming Discussion Part 5

xxlozxx

I have recently put in claims for PPI mis-sell with the Halifax on 4 loans. Two are no longer active (paid off) and the other two are. If my claims are upheld will they use any compensation to reduce the balance on my current loans (all monthly payments are up to date - never missed a payment) or will they refund the money?

jmja

I have been contacted by Northern Rock recently to offer me a refund on PPI that I had on a loan I couldn't even remember having!
To cut a long story short they have offered my just over £400, should I accept this or hold out for more money?

There is no compensation offered just return of fees, can anyone advise please?

teensk

HI-Just wondered if anyone can help.. Absolutely no financial knowledge;totally confused & just need clarification.Breifly:Took out a mortgage 7 years ago with HSBC-was harangued into taking out other products [Its only now that Im querying them & Im trying to get it clear in my head as I believe we might have been mis-sold as:they werent needed-our jobs pay sickpay/redundancy & death-in-service benefits;we were given the impression that the mortgage was dependent upon purchase of one of the products & finally an overly aggressive pitch which horrified us into buying.We took income protection-guaranteeing an amount pcm upon redundancy/illness [cancelled after a couple of years] etc AND a FlexiLife plan each[mines cancelled husbands still going]which, I think, is decreasing term insurance plus critical illness??Do either of these count as PPI?Thx

jdwmfc

jmja wrote: »

I have been contacted by Northern Rock recently to offer me a refund on PPI that I had on a loan I couldn't even remember having!
To cut a long story short they have offered my just over £400, should I accept this or hold out for more money?

There is no compensation offered just return of fees, can anyone advise please?

You should also get 8% simple interest on that. Contact them and ask them for a breakdown of the figures and how they came to this amount. You might want to point out that you are entitled to the 8% too.

witsend40

Hi everyone
My Ex & I had a 'revolving loan' :eek: with Beneficial Bank which I took over when we separated and ran for a very long time from about November 1989 to Nov 1996 (Approx) I have no account number or paperwork as I have changed my bank and name since then. Is it worth sending a SAR or is it just too long ago; as most successful claims don't seem to have gone back that far? Advice would be appreciated
CHEERS!!:T

izzybusy23

Hi

Ive just received a letter from Freemans catalogue to advise that yes, I did have PPI on my account (its been closed for a good few years now). However, their letter states this:-

"Your letter has been passed for my attention with regard to the above numbered account.

I can confirm that you did have PPI on your account, In relation to your request for a copy of your credit agreement I would point out that under the Consumer credit Act 1974, Section 78 (3), we are not required to send you copy agreements when these relate to agreements (accounts) for which no money is payable.

I trust this clarifies the position and resolves your enquiry".

Now I thought by law they had to send copy of credit agreements, and when the account is closed the £1 charge is not payable.

Do I need to send them a SAR request to get the info out of them?

Thanks

[Deleted User]

izzybusy23 wrote: »

Do I need to send them a SAR request to get the info out of them?

They've actually given you all the information you need. If you now know you had PPI and you already know your Freeman's account number, what do you need the T&Cs for?
If you have valid complaint reasons you already have everything you need to complain!

izzybusy23

Moneyineptitude wrote: »

They've actually given you all the information you need. If you now know you had PPI and you already know your Freeman's account number, what do you need the T&Cs for?
If you have valid complaint reasons you already have everything you need to complain!

Really? Ok thats good then! The only problem being I would have no idea how much ppi I paid over the years; I had an account with Freemans since from about the age 18 to 35! Would I need to do a SAR as from my memory, PPI was applied monthly on the remaining balance.

Also I've heard that freemans is quite difficult to claim PPI from. The reason I would have applied for PPI is being young and naive and thinking I needed it. So I am guessing rather than using the 'I wouldn't had been given credit if I didn't tick the box' line, I should be upfront and say I was young, in a stable job and didn't really want or need it?

Thanks

PS: still waiting on decision on my husbands 9 consolidated loans (all had ppi and totalled about £9k); in to week 5 and it feels like forever!

[Deleted User]

izzybusy23 wrote: »

So I am guessing rather than using the 'I wouldn't had been given credit if I didn't tick the box' line, I should be upfront and say I was young, in a stable job and didn't really want or need it?

Any "hearsay" complaint reasons you use are weak because they cannot be proven. Ideally, you need verifiable complaint reasons, like being self employed etc and unable to have ever claimed on the insurance.
Look for reasons that might apply here
http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#step2


Incidentally, you don't need to know exactly how much PPI you paid in order to complain.

alwaysmugged

hi

Does anyone know if being self employed alone is a good enough reason for reclaiming PPI.

I never received a copy of the PPI policy so have no idea if i could have claimed on it,during the period of the loan.

ty