PPI Reclaiming Discussion Part 5

nee666

Annadongela wrote: »

Can anyone tell me if it possible to claim PPI on a business loan.

Sole trader - got into difficulties, everytime the bank 'rescheduled' the loan or overdraft further 'insurance' was charged; at one point paying 3 different protection insurances every month.

Don't ever remember being given paperwork on how to claim or being given the opportunity to not have it.

Is a claim still possible when it was for a business? This was Natwest and 15 years ago. We do still have some paperwork on loans etc and all bank statements showing how much was taken.

I got small business loan insurance back from HSBC for loans in the 90s, admittedly only £300 odd, they were only small loans,
Are they front loaded/single premium ppi?

pinkkibby

Annadongela wrote: »

Can anyone tell me if it possible to claim PPI on a business loan.

Sole trader - got into difficulties, everytime the bank 'rescheduled' the loan or overdraft further 'insurance' was charged; at one point paying 3 different protection insurances every month.

Don't ever remember being given paperwork on how to claim or being given the opportunity to not have it.

Is a claim still possible when it was for a business? This was Natwest and 15 years ago. We do still have some paperwork on loans etc and all bank statements showing how much was taken.

Yes it is possible to claim back PPI on any account that had it! Business loans were a particularly bad thing to have PPI as you would be self employed & therefore restrictive terms & conditions applied which probably weren't made clear at the time.

From experience, Natwest will pay out straight away on this & have records going back 15yrs on their archives so you shouldn't have any issues.

chez2165

I recently filled in a reclaim form for a Barclaycard that used to have PPI on it but I'm a little unsure about submitting it as there doesn't seem to be an awful lot of information I have completed on the form.

Are there any examples of completed forms anywhere just so I can get an idea whether it is correct or not.

Thanks

dunstonh

chez2165 wrote: »

I recently filled in a reclaim form for a Barclaycard that used to have PPI on it but I'm a little unsure about submitting it as there doesn't seem to be an awful lot of information I have completed on the form.

Are there any examples of completed forms anywhere just so I can get an idea whether it is correct or not.

Thanks

You fill the form in truthfully fitting your circumstances. Filling in a form with someone elses circumstances is not truthful and could harm your complaint.

di3004

sim2u4u wrote: »

Hi all, not sure if I'm doing this right as I'm new to this so please bare with me,

I have PPI on my credit card which I wasn't aware off untill I had a good look at my bill, so I made a complaint to Lioyds TSB as I feel I don't need this policy, they have written back to me stating, I was aware of the policy and I was given verbal advice and booklets to make a informed choice about PPI,

I have had PPI on my credit card since 2002, I am in fulltime employment and I have been with the same company since 1987, we have a good sickness policy that hasn't changed since my employment started, so if I'm ill and need to be absent from work my employer will pay me 6 months at full pay and a further 6 months at half pay, therfore I feel I don't and didn't need PPI on my credit card.

do you think it would be worth me refering my complaint to the FOS as I feel I have been sold a policy that I would not beable to claim on, I have had personal loan with TSB and have never taken PPI out because I feel it would have no benefit to me with my companies sickness policy.

Hi and welcome

If they've not given you another opportunity to write back with further information, and have enclosed details of the FOS, you can complain to the FOS now, as the FOS will need you to enclose a copy of the final rejection letter before they can proceed.

Otherwise, write back and tell them you are not happy with the decision they made on your complaint because.............

And ask if they will reconsider with the further information you provided.

If you've not done so yet, tell them what you said in your post, about full pay etc, and also ask them to provide you with the evidence that you received verbal advice on the product.

Good luck.

edthomasj

dear all
i've just started a reclaim through fscs to get back ppi on a picture loan from april 2005. the premium was circa 6k upfront (as a loan) for 5 years insurance for a 15year loan. loan was settled in 2007
however i destroyed all my paperwork a couple of years after settled the loan.
'Amersall' (thanks again) advised me to contact my bank to get the account detail, and my bank have given me the picture account detail from the direct debit. there was one debit each month for the loan, and that included paying back the loan they also lent me to buy the huge upfront ppi.
anyway sorry for being longwinded - i don't know how to obtain the actual insurance policy number as that it what i am claiming has been mis-sold.
I've sent a SAR to picture (in it's current guise as Target), but if i knew who provided their insurance i could write to them too.
assuming fscs will need the insurance policy number rather than the account detail for the loan (which is all I have)?

Much appreciate anyone who takes the time to reply.

Best regards and thank you:)

peanutbutter_cups

Hi Ed
The loan number its self should be fine x

Paddyt_2

Moneyineptitude wrote: »

That's great news. This documentation hopefully means the Bank can't avoid paying out for the whole period and an Ombudsman referral won't be necessary..
Do keep us updated!

OK, a quick update - HFC have the complaint logged on 15-09-2012 despite me sending in the original complaint around 20th August, so I am officially only a month in. Had a letter today saying the investigation was ongoing and it will take a further 28 days. Not sure if this is good but I guess its still open...

amersall

peanutbutter_cups wrote: »

Hi Ed
The loan number its self should be fine x

You are correct, you don't need the insurance number.

peanutbutter_cups

amersall wrote: »

You are correct, you don't need the insurance number.

cheers amersall for confirming x
good to know im not as thick as i look(hard to belive sometimes lol:D)