PPI Reclaiming Discussion Part 5

-taff

purepink wrote: »

I had to have it, because I was on my own with the little ones.

And that's why you had to have it.

Gemboc

Hi all, I'm new to this forum but can see that some really good advice has been dished out. I had a credit card with Egg and they've upheld my complaint to repay my PPI. I've just received their letter and they are offering me £160!! Any idea how I can check how much PPI I paid and if this is a correct payout...your help will be very much appreciated, thanks.

Gemboc

I should probably clarify the above a little...this was a card I had about 10 years ago, I have none of my statements or original paperwork so don't know how much PPI I originally paid which means I'm stuck in terms of checking whether this is an accurate settlement fee. Thanks again.

spitz

Moneyineptitude wrote: »

You're not complaining about PPI though; critical illness cover on a mortgage is an entirely different insurance. Did you inform your lender at the time that you already had savings which would cover your mortgage payments if you became critically ill?

Ah OK - thank you - I didn't realise they were different
I will have to see if I can dig out the paperwork
Yes the financial man knew how much savings we had cos a PEP mortgage was one of the options discussed (if I remember rightly)

Chris_Animal_Cook

Hi All

I downloaded a template letter from the site 3 months ago, started to fill it in but lost the lot due to pc failure. I have a printed copy of the cover sheet, but cant seem to find the same template on the site. Can anyone send me a copy or direct me to its location.
I can upload a picture of the top sheet i have printed if it helps

Thanks

Chris

amersall

Use the FOS one, make a copy in case you have to later take it to FOS.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Chris_Animal_Cook

Thanks for the reply, but is the original one that should be sent the bank still available. That form is completely different than the one i have. I need to complain to the bank, not to the FOS.
Thanks

Chris

ulleswater

Hi,

Please can I have some help.

I got a car on finance in 2004 through NAAFI. I was mis-sold PPI and tried to ask for it back from the under writers ARMED SERVICES FINANCE LTD, they advised it was not for them to deal with but NAAFI as they sold it.

I asked NAAFI and they responded the following:

BLAH BLAH BLAH

it was my choice to take it out etc

It was prior to FSA ICOB regulation so the FOS does not have jurisdiction in this matter. they were not a member of GISC.

What can I do next? Both NAAFI and Armed Service Finance LTD won't deal with this mis-selling issue.

helenpenn-ypincher

I have been paying 'protection insurance' since I took out my mortgage. Thing is, it's a fixed monthly payment to an insurance company (Bright Grey), not a percentage to my mortgage lender (Halifax). I had no idea what it was for or why I had it until I checked recently, and it didn't even occur to me that it might be PPI, though the policy clearly states it covers me in the event of redundancy or long-term sickness. My mortgage was arranged by a financial services company (Savills PF).

Questions: 1) Is it PPI? 2) Does the fact that it goes directly to an insurer change anything? 3) As it was 5 years ago, how on earth do I prove that I didn't know I was being sold it?

Thanks.

dunstonh

purepink wrote: »

dunstonh wrote: »

.... This even assumes it is MPPI and not life assurance.

If you feel they have done wrong then complain but your complaint is weak as it is an unprovable allegation.....

Thank you for this. Looking through the paperwork, it seems that the 2nd 'mortgage top-up' Mortgageguard' policy was a decreasing term assurance, starting at £25,000 in the 1st year (the top-up borrowing was £5k plus £125 fee over 20 years at 8.2% interest) It was referred to as 'insurance' and I had to have it, because I was on my own with the little ones. I did make a huge fuss at the time - It seemed so unfair to have to pay £7.50 a month on a £5k top-up, when I was only paying £9.45 on the original mortgage. I have the copy letter I sent to them, naming the advisor etc. and stating why I felt it was unfair. Would that be taken as proof, do you think, please?

Decreasing term assurance is not PPI. It also makes more sense for it to be compulsory given the era it was bought. Plus, it explains the second policy as you cannot "top up" or change existing life policies. You need a second one, third,k fourth etc. An IFA could have done things differently but a tied rep at a bank would not. Their remit is not as wide as an IFA.

I had a feeling it wasnt PPI when you described it.

As it is life assurance, any complaint made would look at your financial need. You had children. So, life assurance was needed.