PPI Reclaiming Discussion Part 5

mtcm

I took out a loan with Egg in 1999 which I topped up twice over the years. In each instance they closed off the old loan and opened a new one, transferring the outstanding balance to the new loan. It was paid off last year. I was told that I had to take out PPI for the original loan and kept that in place (Accident,Sickness and Life) throughout all the loans. Recently Egg sent me a form to fill in to reclaim the PPI. Will I have to claim for every new loan I took out or does it roll over to the final one and they'll calculate it as one account?

Buzzby_2

I had three, maybe four loans, from a bank during the late 90's to early 00's, cars, debt consolidation etc. I was sold PPI on all of them, except the last one I believe, as up until then, I was not told it was optional.
Is there a case I may be able to claim??

[Deleted User]

mtcm wrote: »

Will I have to claim for every new loan I took out or does it roll over to the final one and they'll calculate it as one account?

Send separate complaint forms for each loan, but link them by informing the Bank in a cover letter that this was a consolidation chain in which interest on PPI paid from the first loan was rolled into the subsequent loans.

Are you sure you had PPI, though? "Accident, sickness and Life" cover is NOT PPI.

mtcm

Quote:
Originally Posted by mtcm

Will I have to claim for every new loan I took out or does it roll over to the final one and they'll calculate it as one account?
Send separate complaint forms for each loan, but link them by informing the Bank in a cover letter that this was a consolidation chain in which interest on PPI paid from the first loan was rolled into the subsequent loans.

Are you sure you had PPI, though? "Accident, sickness and Life" cover is NOT PPI.

Yes, they have just confirmed on the phone that I had PPI, and that I paid a total of just over £4,000 on the total of the lifetime of the loans!!! Thanks so much for your advice, do you know if I'll get that full amount back?

taffphillips

Hi all,

I'm having a battle with with Sainsburys Finance right now over a missold PPI policy they forced me to take out with a loan way back in 1999/2000. I've asked them for a copy of the credit agreement as per the template letters on this site and they've straight batted me saying they have no trace as the account is in excess of the 6 year period and thus Section 77/78 of the Consumer Credit Act 1974 does not apply.

Does this mean that they have no agreement or they cannot trace me on their systems? I have provided them with my name, dob, full address history and approx time when the loan was taken out but they are playing hard ball. Is it worth me writing again with a £10 cheque asking for my full file?

Am hoping that someone out there has been successful when they have taken on a very old PPI case such as this.

Cheers

Pink1808

mtcm wrote: »

Quote:
Originally Posted by mtcm

Yes, they have just confirmed on the phone that I had PPI, and that I paid a total of just over £4,000 on the total of the lifetime of the loans!!! Thanks so much for your advice, do you know if I'll get that full amount back?

Yes if you are successful you will get back all paid plus 8% :T

(Fos would award a refund of all PPI payments paid, the interest charged on those payments by the bank plus 8% statutory interest on each of the payments.)

megamgee

has anyone out there had any sucess claiming against ppi sold on nationwide mortgages?

Sold in 2005.

I have had a look at documentation which does state on an information sheet that you are not entiteled to take it out form them and it is optional.

Does this cover them for a payout.

They also sold me an aviva healthcare inurance 'income protection' which seems a very similar product

amersall

The standard FOS response is to send complainants in the direction of the insurer, but I've yet to see success with this.

There have been a few on here, Di304 can confirm this.
Some insurers are paying up with and without any FOS intervention.

[Deleted User]

taffphillips wrote: »

Does this mean that they have no agreement or they cannot trace me on their systems?

Neither, it means they don't ever have to provide it to you.

taffphillips wrote: »

Is it worth me writing again with a £10 cheque asking for my full file?

Only if you think you can make a successful complaint because you have valid and verifiable complaint reasons. You cannot simply complain that you had PPI, it needs to have been mis-sold to you.

amersall

megamgee wrote: »

has anyone out there had any sucess claiming against ppi sold on nationwide mortgages?

Sold in 2005.

I have had a look at documentation which does state on an information sheet that you are not entiteled to take it out form them and it is optional.

Does this cover them for a payout.

They also sold me an aviva healthcare inurance 'income protection' which seems a very similar product

dunstonh or magpiecottage are best placed to help you with this when they come on the site.