PPI Reclaiming Discussion Part 5

paddymc12

Hi guys just had a letter from a company called C.P.P (card protection plan limited )saying they took money out of my account when they shouldnt have.They are going to reimburse me a small sum £42 ,am i in a position to claim for them covering my credit cards etc.
not quite sure how to proceed .if you need anymore details ill post them.
thanks

lalahobbit

I am hoping someone can help/advise

I did a PPI claim for an old loan (about 10 years ago) with Lloyds TSB and have had my offer. It states that it includes a full refund of PPI but the PPI was £743 and the offer is £470. I rang them to ask them to clarify and all they could say was "you are not accepting, you need to go through the Ombudsman" - I just wanted to know how they could state one thing and then offer a lesser amount than the total paid. They have a copy of the loan agreement so can see the amount for PPI, so I am quite confused. There is a vague sentence in my letter "adjusted by other factors that are relevant to your circumstances" but no-one could clarify what those might be. And the example given is if you have already had some form of repayment which I have not.

Is this normal? And should I just take it or now go via Ombudsman?

One more thing - If I go via Ombudsman and it turns out the amount of £470 is all reasonable, do LLTSB still pay me?

Kat33

I keep getting calls from companies that say they want to help me claim on missold PPI Insurance. I don't remember ever taking out any PPI insurance. These companies tell me that it's worth applying anyway, as there may have been hidden insurance in a credit card or mortgage. Should I let them help me make a claim? Or would PPI insurance always be something I was aware of, ie signed up for?

Grymm

Hi guys, need a bit of help/guidance on this. I recently put 3 claims in for PPI, LLoyds TSB, BOS/Halifax/Aqua, and Barclays.

Barclays [aid out which is excellent, but the others came back with upheld letters.

How long do I have to wait until I can go to the FOS?

how long does it take FOS to look into cases?

Ive read the FAQ's but im kind of hoping for some personal insight

thanks:)

Grymm

Sorry....

but I had a mortgage with Abbey National, its been paid off, but is it worth enquiring about PPI? I took the mortgage out in the 90's and dont know whether its worth it or not...

what do you think and how should I approach it?

-taff

Kat33 wrote: »

Should I let them help me make a claim?

No

Kat33 wrote: »

Or would PPI insurance always be something I was aware of, ie signed up for?

Yes


.....

-taff

Grymm wrote: »

Ive read the FAQ's

read them again
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

step 4

jai_amba

Hi,

I recently claimed ppi, but realised i still needed the insurance, I rang and explained this. I have now been sent an invoice for £371. Can they still charge even if I did't accept the award and did'nt sign and send off the form.

I would really appreciate some advise on the matter.


Thanks

jai

gobecgo

In 2010 my partner and i took on a mortgage.

At that time we chose to buy PPI. The broker, who was attached to the estate agent we bought the property, sold us all our various insurances. Initially we agreed to life, home and contents, PPI and sickness and injury. Upon reflection we cancelled the sickness and injury since we knew between us several people who were too ill or injured to be able to pay their mortgage and none of them would have qualified for a payment under the rules of our policy and it was very expensive.

The discussion we had with the broker at the time we took out the insurances led us to believe that the insurance covered the mortgage and a paid a modest amount on top - enough to cover our various insurances and other bills but not feed the family. I believe at the time our monthly mortgage payment was about £700 and the policy was, as we understood it, to cover that plus about £500 on top. It was NOT income protection, it was definitely brokered as PPI.

Anyway we accepted and signed and paid for 3 years. This year we examined the policy because we are having a 3rd kid and are generally trying to cut costs, changing utility providers etc. On examination we realised this policy does NOT cover the mortgage at all, it ONLY pays the £500. The broker arranged the whole sale of the house we bought and the mortgage and knew exactly how much are payments were going to be. I have no idea why he would sell us an insufficient policy to cover even our mortgage. We BOTH understood that we were buying PPI which would cover our bills including mortgage, neither of us realised the PPI in question wouldn't in fact even cover the mortgage.

We've now arranged sufficient cover, but we're wondering if we should try to reclaim this PPI. Does this count as "mis-sold"?

I'm conflicted - i'm sure had we read it more carefully we'd have seen our error, but we signed off on about 6 things that day (that hour) and i didn't expect the broker to arrange insufficient cover. At the time we both felt he was giving us the very hard sell on the sickness and injury cover, and we had given him a monthly budget for insurances - i can only think he would arrange insufficient cover in order to "have room" in the budget to get us to take that sickness and injury - he was VERY hard to get hold of to cancel that policy and very cool with my partner during the discussion re: cancelling it. We DID read the sickness and injury cover more carefully because it was so costly, he was so eager for us to take it, and we were both a bit unsure of the value of it. I wish we'd paid more attention to the PPI!

So should we try to reclaim? Can we? The policy was only £20ish/month and ran 3 years, so it's not an insignificant sum, but not like we've been ripped off for thousands either.

amersall

jai_amba wrote: »

Hi,

I recently claimed ppi, but realised i still needed the insurance, I rang and explained this. I have now been sent an invoice for £371. Can they still charge even if I did't accept the award and did'nt sign and send off the form.

I would really appreciate some advise on the matter.


Thanks

jai

If you won mis sell and then chose not to accept the offer, you still have to pay the company as they did what you asked them to.

Are you sure you did not sign the form giving them permission to act on your behalf ? it seems odd they have sent you an invoice without your completed form.

Was this a Credit card or Loan? if it was a loan and you won redress, this would have cancelled the PPI out anyway and the loan would have been reset, with a Credit card redress they would also have cancelled the PPI, you need to check if the PPI is still in place before you decline the offer that has been made.