PPI Reclaiming Discussion Part 5

positive_mind

Hi

just wondering if anyone can help, i have successfully had 3 claims upheld by lloyds, reason being i was not working at the time of purchase.
my partner as always been self-employed and has had 5 loans with ppi on.
i cannot find booklets with t&c on, does any one know if the ppi would of covered him or not for loans dating 1996, 2008, 2009.
these loans are all front loaded and one asks you to tick if ppi is needed and he didn't tick or agree, it was just added.
Any information would be much appreciated.
thankyou

naurdu

Hello all, suggestions as to what to do next would be appreciated.

Had a letter back from Halifax over an old credit card which had PPI saying that the policy was not mis-sold. I do vaguely remember the meeting for getting the card back in 2004 in my local branch. I have (apparently) ticked the box for the insurance.

My memory isn't so good as to remember exactly what was said back then - but I do remember feeling slightly steamrolled over the whole thing!

They say they will review it if I provide "further supporting evidence".

Thoughts and helpful hints as to what to do next?!

Many thanks

marco52

Hi, Approximately 12 years ago my husband and I arranged an overdraft facility on our joint current account at Barclays. At the time I was not working and my husband was self employed. We were told that as a condition of being granted the overdraft facility we had to take out PPI. Around two years later, my husband's accountant saw the monthly payments for the PPI and said he was sure we would be able get an overdraft facility with another bank without this condition attached. So we told Barclays that we would be taking our account to another bank and they agreed to cancel the PPI and let us keep the overdraft facility. We no longer have the paperwork as it was so long ago but we still have the same overdraft facility. So how does this work regarding the bank's obligations with retaining records?Theoretically we still have the same 'loan' but it is more a flexible facility rather than an ongoing debt or loan, but the PPI was stopped more than 6 years ago.

Kelly2012

Hi, I'm a newbie.

I never realised I had PPI until April this year when I got a letter from HSBC with an "Annual Review of Optional PPI" insurance on my credit card. I was stunned. I'd heard all about PPI on the news but always thought I was too clever to be caught by this. Duh!:(

I used MSE template letter to write to HSBC for my credit card agreement in May.. I eventually received a copy of the credit card agreement at the end of August 2012.

It is dated April 2005. My signature is on the 'optional cardholder repayment protector' section.
Because it is so long ago I can only remember that I was sure if I did not take out this insurance, my credit card would be refused. It was my first credit card here.
I was employed at the time. I still am employed and I still have this credit card. The insurance is still there.

I have read the helpful guidance on the MSE site. I am starting to complete the consumer questionnaire but I am a bit stumped.
I cannot remember where the sale took place. I think I filled in a form and it might have been in the bank. I have a vague memory of talking to someone but not sure. I am worried because my memory of this is so bad (it is over 7 yrs ago). Is there any point in going ahead?

I also read on the forum that some people have just called HSBC and did this over the phone. How do you do that? Is there a special number? What do you say to them?

Would be really grateful for any advice/experience.

Thanks.

Kelly2012

ronsha140

Hi,

I wonder if anyone could advise me on whether I'd have a claim against Lloyds bank? Back in 2007, I took out a business loan and refused to take out ppi. They insisted on charging a higher interest rate because of this (they charged an extra 0.5% which I argued with and it was then reduced to an extra 0.25%). I thought this was really unfair at the time and with all this talk about compensation for taking out ppi, it has made me think whether I would be entitled to a refund at all.

I would really appreciate some advice on this.

Cheers,

Ronsha

shaikirella21

I've had an offer from HSBC regarding PPI on a loan. In their offer letter it says "This figure will effectively return the protection premiums you have paid along with an element of gross interest." But it's about £2000 short of what I paid, so what should I do now? Should I just write back and say it's not enough, or should I go to the Ombudsman? Confused.

[Deleted User]

ronsha140 wrote: »

I took out a business loan and refused to take out ppi. They insisted on charging a higher interest rate because of this

I think you'd have a difficult task proving this. The Bank will
just say that was the interest rate appropriate to your circumstance at the time, PPI was irrelevant.

paulmasonnewarkglass

Hello, Need some advise if anyone can help.

After all press and adverts for PPI reclaims, i looked into a LLoydsTSB Credit Card i've had since 2000,realising i have been PPI on it i rang them to complain about the policy. The telephone conversation i had was very brief, they asked what the complaint was. I told them i didn't realise i had PPI. No other details were asked and i was told the complaint would be logged and that they would write to me. After a few days i recieved a letter saying that they were investigating my claim.

After about eight weeks, no response was recieved so i rang them, and was told that a letter was sent four weeks ago, but they would send another copy to me.

I recieved the letter which told be after considering the evidence available they would be unable to uphold my complaint. The reasons they gave were:-

1) Your Consumer Credit Agreement
2) Internal Sales Notes
3) Our knowledge of our sales process and documentation at the time
4) Your age and employment status at the outset of the policy

The consumer credit agreement shows that we required additional consent in the form of a selected opition box and a signature to confirm you wanted a PPI policy to be added to your credit card. I am persuaded that this required a verbal explanation ensuring that you were made aware of what you were purchasing. It can therefore be concluded that you did knowingly consent to the addition of a policy to your credit card.

Does anybody know if this is a standard reply to put people off pursuing it further?

Back in 2000 i was asked in my local branch if i wanted a credit card, and i thought it was handy to have for any non-essential purchases. The card was and has been paid off in full every month. i have worked for my family business for the last 20 years so have no worries of losing my job or redundancy. I believe the PPI wasn't explained properly as i have never taken this out before on various credit cards and loans i have had over the years. I cannot remember what exactly happened at the meeting to apply for the card.

Should i contact LLoyds TSB again to explain or i am i wasting time and should i complain straight to the FOS?

Help

-taff

I got the same answer, except I didn't have the first sentence after the 4th reason.
I got...the documentation thet you were provided with at the point of sale and after purchasing the PPI policy fully explained the benefits, and where practicable, the features were explained etc. and discussed at point of sale.....
Which should be interesting.....

magpiecottage

paulmasonnewarkglass wrote: »

After all press and adverts for PPI reclaims, i looked into a LLoydsTSB Credit Card i've had since 2000,realising i have been PPI on it i rang them to complain about the policy. The telephone conversation i had was very brief, they asked what the complaint was. I told them i didn't realise i had PPI.

If you did not want PPI why did you not complain when it started appearing on your itemised monthly statements back in 2000 but instead keep paying it until now?