PPI Reclaiming Discussion Part 5

dunstonh

helenpenn-ypincher wrote: »

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.

Bright Grey is a life assurance company. They offer life assurance, critical illness, income protection and PPI policies (or any combination of within a single plan).

1) Is it PPI?

Could be as they did offer that option. It may also be other things. You may not even have the PPI segment. The policy booklet will detail all the segments as it is multi-purpose but your policy schedule will tell you exactly what you have. The vast majority of Bright Grey plans are life assurance or life assurance plus critical illness cover. (neither of these are a form of PPI)

) Does the fact that it goes directly to an insurer change anything?

Bright grey only did monthly premium (not single premium) and its standalone from the debt. This means it was set up correctly.

3) As it was 5 years ago, how on earth do I prove that I didn't know I was being sold it?

The application form for bright grey requires medical disclosure, GP details and a direct debit mandate. How would you explain you giving those details if you say you didnt know you were being sold it?

Also, it is post 2005. That means Savills would have written a statement of demands and needs.

Finally, its an advised case. Just 0.2% of PPI complaints at the FOS are advised cases. The PPI issue is not seen as an adviser failing. Most adviser cases are not upheld because they can show the audit trail for the advice and the use of a company like BG means it has been set up correctly. The odds are not strong and dont expect to get lucky. Brokers/advisers dont auto payout, dont have backlogs and are very strong at defending their cases (a point reflected by the FOS just in November where it congratulated advisers for having much better records and complaint handling than banks as well as explaining why more complaints get rejected for advisers).

dunstonh

ulleswater wrote: »

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.

Game over. It is pre-regulation and the seller was not a member of a previous regulatory or supervisory body. They dont have to consider your complaint and you dont get access to the FOS as it is pre regulation.

[Deleted User]

Chris_Animal_Cook wrote: »

I need to complain to the bank, not to the FOS.

As already advised, you complain to the Bank using the FOS Questionnaire. I have no idea what this other form you mention is, but the FOS version is the correct form.

amersall

Chris_Animal_Cook wrote: »

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

The FOS form is the same as the one you have, asking for the details of the claim, you send this to the bank and make a copy in case you have to go to FOS at a later date.

debrag

where do I send my Marbles letter to?

covphoenix

It has only just dawned on me that there may be ppi linked to car finance I had a few years ago. When I dug out all the paper work I have found that I had two different types of insurance attached to it. The first being Total loss Gap protection insurance, the other being a Capital Care insurance which covered 'Life, disability, unemployment, accidental death' etc

Are these the same as ppi and would I be eligible to claim? If so do I claim from the insurer or Ford who sold it to me?

Also my wife had a car with the same dealer about 1998 but can't find the details and reckons she was probably mis-sold ppi on that car too. How can she find out if this was the case without having the paperwork?

Thanks in advance

-taff

No idea what the gap one is but the second one is. There is no claim, there is a complaint that it was missold, and you fill in the questionnaire or phone and make a complaint.
You complain to whoever sold it to you.
If you complain to someone who wasn't regulated rpior to Jan 2005, then your complaint can be rejected outright straightaway. Car companies were not regulated at this time.
She may be able to find out if she phones, but here chances of a successful complaint are prsactically zero because of the time it was sold, and because they are unlikely to have kept any paperwork.

Dirdybirdy

Hi,

I am hoping someone out there can help me. I took out a mortgage with Northern Rock in 2006, this was done through a financial advisor. I have had a look through the paperwork I still have and can't see anything about PPI. Who do I contact to check if I had it or not? I think its the FA, in which case they are no longer trading so who do I go to next??

dunstonh

Dirdybirdy wrote: »

Hi,

I am hoping someone out there can help me. I took out a mortgage with Northern Rock in 2006, this was done through a financial advisor. I have had a look through the paperwork I still have and can't see anything about PPI. Who do I contact to check if I had it or not? I think its the FA, in which case they are no longer trading so who do I go to next??

You dont need to ask anyone. You just look at your bank statements. Most MPPI is monthly premium by direct debit.

The financial adviser is responsible for the advice given. If they are no longer trading and it was bought after January 2005 then you can complain the FSCS if you think it was mis-sold. However, be aware, the FSCS only uphold around 5% of complaints against mortgage advisers. The PPI issue is not one that really affects advisers (it is possible to mis-sale under advice and there have been some cases but the FOS figures show just 0.2% of complaints at their end are from advisers and most are rejected).

Mosioa

Hi

My boyfriend has just had a letter back from Capital One after he submitted a claim for PPI. They sent a copy of his application form which shows he did not tick the box on the application form for PPI and said their records show there was a phonecall a few days later at which point the PPI was put in place. So they wouldnt be progressing his claim any further as he 'must have requested it'.

His claim is on the basis that they intimated it would help his app if he had it

So.. he didnt ask for it on the app form he posted to them and he certainly didnt ring them to ask for it. So it was an outbound call that resulted in PPI being added but they dont appear to have evidence from the language that they used.

I've just sent him over the template for the Ombudsman letter. Should he go straight to this course of action or go back to Cap One and tell them of his intentions?

Thanks