PPI Reclaiming Discussion Part 5

charlotteandpete2005

Hiya all,
well I bit the bullet this morning and phoned lloyds tsb about a loan i took out 10 years ago as have spent the past few months trying to find the paperwork, but its long disappeared.
When i initially went into the branch it was for £2000, I came out with a £5000 loan after being advised it would be cheaper in the long run...and a few weeks later a credit card arrived as well with a £2800 limit - which I wasnt even aware I had signed up for. I have no idea if ppi was included on either of them, and at 18 wasnt even sure what I had signed up to.
Spent the lot, nothing to show for it, except maybe at the time a fab tan from Faliraki and a mega hangover!! eeeek!!
anyway a year after taking them out, i lost my job and was out of work for 6 months.
now looking back on it, I paid them off with a consolidation loan 4 years later.
but if i had signed up for ppi, would i have been covered for the loss of job part?! I had no idea, and no one to help - just debt letters and reminders (helpful!!) from the bank.

what are my chances of getting any compo back?

dunstonh

Mmix3200 wrote: »

Thanks, Dunstonh. The card was taken out in store and so we filled it in and ticked No at the time, they have simply disregarded it and charged us anyway! I think that is a pretty valid reason for complaint so I will give it a go. Thanks for clearing up the compensation question. I appreciate it.

If it was charged from month one like that then you have a case. However, if it is like most cards where it was sold on the phone after the application was made, then that reason will fail.

-taff

charlotteandpete2005 wrote: »

what are my chances of getting any compo back?

None unless you can find out whether or not you did actually pay PPI.

If you did, it should have covered you for loss of earnings unless you lost your job of your own volition.

PPI would have shown on each credit card statement as Payment Protection Insurance [as well as interest], you would need to phone the bank to see if you did have ppi on the loan, or send a SAR.

Buzzby_2

My wife and I filled in and sent off our questionnaire last week, claiming about misold mortgage PPI. We don't believe we ever had the option, it was just added. In my opinion it was not required as we were due full sickpay, plus I had health/accident insurance.
The PPI comes up on our yearly summary, as though it is actually part of the mortgage, and actually has the same policy number, not a seperate number as the questionnaire suggests.
Anyhow, the paperwork was sent off last week, and I got a phone call yesterday from the bank, from an empolyee who had been assigned to investigate my claim.
He seemed interested in what I had put in the part of the questionnaire that asks how I would have paid my mortgage if I had been off sick. I stated I had 'savings/insurance policies', so I gave him rough details of what I had, which he was then going to look into.
Now it may just be a waiting game. Quite pleased with the quick(ish) response so far though.

The help on here was/is much appreciated, and gave me the confidence to have a go myself rather than use a claims company. It may come to something, may come to nothing, but I'm glad I had a go either way. I am now also pursuing some loans I took out as an impetuous (foolish) 21yr old. I think they may be too far back, but my request for details will be bank bound tomorrow. I have statements going back that far, but not with loan account numbers on though.

castortroy28

Hi All,

Am pretty confused right now regarding PPI claims.

I have a few things that I am going to claim on.

1- Visa Credit card.

Now although I havent paid it off yet, I owe about 2800 on it. I checked my latest statement and I have been paying about 30 quid a month for the term that I have had the credit card.

This is the crazy part. I have had this card since Jan 2001. The APR on the card is about 29.9 % APR. Now do I calculate this as 29.9% apr interest on 340 quid a year? i think I am owed the comp because I was not employed at the time and a student. so how was i going to claim when i wasnt even employed.

I mean how do I work this out?

2- Loan with Tesco now paid off. 400 quid added to the start of the loan. all paid off, about 12% interest

3-Credit card with Egg. 4000 about 7 years but have no idea what was paid so will need to get the credit agreement off them and also a loan to for five years. 1400 quid defo had some protection on there but that was years ago so will get the details for that also.

-taff

castortroy28 wrote: »

Hi All,

Am pretty confused right now regarding PPI claims.

I have a few things that I am going to claim on.

1- Visa Credit card.
2- Loan with Tesco now paid off.
3-Credit card with Egg. 4000 about 7 years but have no idea what was paid so will need to get the credit agreement off them and also a loan to for five years.

Credit card - apr is not PPI, if you were paying PPI it would show as a separate debit along with the interest, as Payment Protection cover or some variant of that. If you were a student, then you shouldn't have been paying PPI, if you were, so go for that.

Loan, yes, go for it.


last two egg ones - barclaycard took over egg cards at some point, google for info, you may have to send your complaint to them, but you don't need the credit agreement, just valid reasons and the account number, the loan, also complain, but check again for who to complain to.

robdav99

Hi everyone, I have a quick question about MPPI

When we took out our mortgage back in sept 2005, we took out a PPI policy which was £41 per month which we paid for approx 5years, we still have MPPI but with a different company than the original

The mortgage was with Northern Rock and the MPPI policy was through Bennett Gould & Partners.

We never used it.

Would I have a claim to get my MPPI money back?

I'm not sure how all this PPI claim back stuff works.


Any advice would be great. Thanks

Cheapskate

Evening everyone

I've waded through a lot of the PPI info on here, but am struggling to discover whether or not we can claim against our mortgage company. We re-mortgaged between 3 and 4 years ago, and were told we needed PPI to be approved for the deal (for both existing amount and extra we took out). We assured the bank we had adequate savings for a while to pay, and fairly secure jobs, but were told if we didn't accept we wouldn't be re-mortgaged. Does this count as mis-selling is the question? I have some of the paperwork, and can track what we've paid through bank statements; the insurance is the bank's own insurance.

Thanks if someone can point me in the right direction!

A xo

nikig1

Hi Amersall,

I posted this a few days ago, but not sure if you saw it, so am posting again in the hope you see it and can tell me how it's worked out and if it's right I have entered the figures next to your questions.
Many thanks for your help

Originally Posted by amersall
As I do not have the figures and presumably you do, you need to know the exact amounts of.

1 The PPI total amount with interest £7177.80

2 The total loan amount with interest £30864.12 inc the above PPI amount

3 The loan start and end date sept '08 - Aug '15

4 The months that you actually paid the PPI 49 mths

5 The date you cancelled the PPI Sept '12

6 What the loan amount owing was left after the cancellation of the PPI £11310.10

5 What the total reduction amounts were taken off the loan £3891.26

If you don't have these figures ask the bank for them.

The new loan monthly payment you have now is taken from the original loan payment at the start date, they reduced this when the PPI was cancelled and you have a second reduction now.
The original loan payment was £368.41 it is now £239.00 this has saved you £129.41 so they have taken the whole PPI monthly amount off, ask for a breakdown of the whole loan rebates and this should show you they have given the correct redress.
If you get the figures I can help to show you how this worked out.

dunstonh

robdav99 wrote: »

Hi everyone, I have a quick question about MPPI

When we took out our mortgage back in sept 2005, we took out a PPI policy which was £41 per month which we paid for approx 5years, we still have MPPI but with a different company than the original

The mortgage was with Northern Rock and the MPPI policy was through Bennett Gould & Partners.

We never used it.

Would I have a claim to get my MPPI money back?

I'm not sure how all this PPI claim back stuff works.


Any advice would be great. Thanks

You do not have grounds for complaint just because you never claimed on it. So, as it stands you have given no indication of any wrong doing by Bennett Gould & Partners. So, on that basis, you have no reason to complain.