PPI Reclaiming Discussion Part 5

jdwmfc

ketty27 wrote: »

Its 2 loans, I had a loan from 2003-2006 then a big loan from 2006 to 2014 which im still paying, I have all my loan policy details with the ppi on it. Im paying £36 a month on ppi with the loan at the moment

This means that you get back any PPI you have paid plus 8% simple interest.

downbythesea

Sorry, I posted the original on the wrong forum.

Could someone offer some advice on this please? I have referred a lender who we had several loans with to the Ombudsman. The reason for the referral is that the lender says they no longer have records of whether we had PPI on the loans. Now every other loan we had with other companies did and we have successfully reclaimed against them.

The lender who I have the dispute with can tell me the loan amount, term, interest rate and sum payable and start dates but not whether we had PPI or not. As we repaid the loans, we destroyed the original paperwork. The loans go back 8 or so years, is this a reasonable position the lender has adopted and will we succeed with the Ombudsman? I heard recently of someone who had persued a claim without the details and the lender had records going back 15 years.

yogaflame

At the time I was working as a member of staff in our family business. Since 2009 I have become a partner in the company. I have been informed that being self employed effects PPI(please correct me if I am wrong). At the time the company was doing very well, due to economic climate not as well now. However at the time there would of been no problems in paying off any credit due. To be fair at the time I would of not mentioned that due to not being high up within the company. I am not sure if this a possible angle or clutching at straws.

Do you think it is worthwhile me sending a formal letter of complaint to TSB and state I will be contacting the FOS or just go straight to the FOS?

Any help/advice is much appreciated.

jdwmfc

downbythesea wrote: »

Sorry, I posted the original on the wrong forum.

Could someone offer some advice on this please? I have referred a lender who we had several loans with to the Ombudsman. The reason for the referral is that the lender says they no longer have records of whether we had PPI on the loans. Now every other loan we had with other companies did and we have successfully reclaimed against them.

The lender who I have the dispute with can tell me the loan amount, term, interest rate and sum payable and start dates but not whether we had PPI or not. As we repaid the loans, we destroyed the original paperwork. The loans go back 8 or so years, is this a reasonable position the lender has adopted and will we succeed with the Ombudsman? I heard recently of someone who had persued a claim without the details and the lender had records going back 15 years.

Did you request a SAR?
This would have given you access to all the information a lender had on you.
ALl banks are different so some have claimed back for 15 years, these are the very very few lucky ones.
Just becaause all your other loans had PPI doesnt mean this one does.
I don't think you will get anywhere with the FOS unless you find some more information that shows PPI.

jdwmfc

yogaflame wrote: »

At the time I was working as a member of staff in our family business. Since 2009 I have become a partner in the company. I have been informed that being self employed effects PPI(please correct me if I am wrong). At the time the company was doing very well, due to economic climate not as well now. However at the time there would of been no problems in paying off any credit due. To be fair at the time I would of not mentioned that due to not being high up within the company. I am not sure if this a possible angle or clutching at straws.

Do you think it is worthwhile me sending a formal letter of complaint to TSB and state I will be contacting the FOS or just go straight to the FOS?

Any help/advice is much appreciated.

\You need the terms and conditions to see if you being self employed did effect you.
You have to complain to TSB first you are not allowed to go straight to the FOS.
Ensure that you have good and valid reasons for a miss sale, to be honest from what you have said it looks a little like straw clutching.

yogaflame

Hi JD thanks for your response,

I have sent the complaint to TSB with which they have rejected the claim. So I am now at the second stage either go FOS which is looking the most likely option or back to TSB and complain about there response.

The likelyhood is no agreement would of not been in place due to it being nearly 14 years ago, I was only 18 and starting working so would not have prepared that far ahead.

Can I post the rejection letter on the site if I blank out the names or is that against the TOC of the site?

Regards
Yoga

BOS_Kicked

Hello All,

Sorry if any of these questions have been asked before - I have done a search prior to posting this and couldn't find anything.

Anyway, just about to start out reclaiming PPI from a Barclaycard account. I phoned them up to get more info on the PPI and was told it was active from opening the card in May 2000. Does anybody know if this was opt in or opt out at this point? I know for a fact that I thought it would help my application if I had it on my account, but can't remember if I chose to have it or just left it as default 'on'.

I've only got statements from 2006, but on them, they refer to a Payment Protection Plan, it is only in October 2008 that this changes to 'Optional Payment Protection'. I'm not satisfied that the optional part was emphasised at the initial point of application in 2000.

I'm also a bit concerned by section D of the FOS form - I don't think it should matter if the PPI could potentially been of benefit, if it was mis-sold, it was mis-sold. Surely they can't turn around and say, 'well we admit that it was opt-out, we didn't advise it was optional or check it was suitable at the time, but look - 12 years later we can show that it could have been benefitial'.

Final question - if signing up online and it's just a check box, who does the onus fall on to check that this is of benefit? I'm inclined to believe that if PPI was selected, it was approved and added. None of the questions in section D about alternative cover were asked at the time of application as far as I can recollect.

Anyway sorry if i've gone on,

BOS_Kicked

[Deleted User]

yogaflame wrote: »

Can I post the rejection letter on the site if I blank out the names or is that against the TOC of the site?

Your rejection letter is from a template and will be virtually the same one sent to every unsuccessful complainant. Just tell us the reasons they gave for rejecting your complaint and why you think they're wrong.

[Deleted User]

BOS_Kicked wrote: »

if signing up online and it's just a check box, who does the onus fall on to check that this is of benefit? I'm inclined to believe that if PPI was selected, it was approved and added. None of the questions in section D about alternative cover were asked at the time of application as far as I can recollect.

If you applied online then your PPI will be regarded as a "non-advised" sale. As such, the onus was on you to check the PPI's suitability to your needs. If it didn't suit your needs, then you simply mis-bought and weren't mis-sold.
However, if the box for PPI was pre-ticked to select PPI by de-fault then you may be able to complain of mis-sale on that basis.

richandstrange

My apologies if this has been asked already; I did start researching the answer but there are only so many hours in the day! The responses I found regarding this pointed towards a SAR (that's Subject Access Request folks) but I'm not sure whether it's worth doing.
From 1994 - 2005 I had a mortgage with Abbey (which I have the account number for) that we had PPI on (for which I don't have the account number). When we took out the mortgage we were told by Abbey that we would have to have the PPI. My wife and I split in 2005 and I thought that most of the paperwork was discarded, however recently I came across one piece of correspondence from Abbey that had our account number on.
I contacted Santander who informed me that they didn't keep records that were more than six years old, however when I gave them my account number they completed a PPI claim with me.
Two weeks later I received a letter from their Senior Customer Resolution Manager advising me that I wasn't sold PPI and that a policy is untraceable. Is it worth doing a SAR (bearing in mind that, at present I'm unemployed and £10 is an awful lot of money) if they don't hold records? Do I simply give up?