PPI Reclaiming Discussion Part 5

[Deleted User]

Ju&Mel wrote: »

How do we find out if we are entitled to PPI refund?

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

Jonesy1977

I recently reclaimed on a card from 1997 which I believe I was miss sold. One of the justifications for my view is that I had (and always have had) adequate personal cover to negate the need for the policy. My reasoning for this is that I was left a sum of money by my father and grandfather who had died 6 months before taking the card which meant that I would have had more than sufficient funds to settle the card had I lost my job. Barclaycard have come back asking for proof of this (which I can supply) so hopefully they will settle with me as I have had this for 15 years! Anyone had a similar request for info?

dunstonh

Jonesy1977 wrote: »

I recently reclaimed on a card from 1997 which I believe I was miss sold. One of the justifications for my view is that I had (and always have had) adequate personal cover to negate the need for the policy. My reasoning for this is that I was left a sum of money by my father and grandfather who had died 6 months before taking the card which meant that I would have had more than sufficient funds to settle the card had I lost my job. Barclaycard have come back asking for proof of this (which I can supply) so hopefully they will settle with me as I have had this for 15 years! Anyone had a similar request for info?

Firms are allowed to ask for proof on such things. it is fairly common when people use the "sufficient other means to repay" complaint reason.

It is mainly asked due to the high level of consumer fraud in using that complaint reason.

Jonesy1977

dunstonh wrote: »

Firms are allowed to ask for proof on such things. it is fairly common when people use the "sufficient other means to repay" complaint reason.

It is mainly asked due to the high level of consumer fraud in using that complaint reason.

Thanks dunstonh that makes sense. As I have full proof that I had other means when I took out the card in 1997 and therefore did not need PPI do you think that this will be enough for them to repay me? I still have PPI on my card and I am positive that I was told that it was necessary for me to take the card (I was 20 at the time) they never asked me if I needed it and I only noticed recently when they wrote to me about my "optional PPI"

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 in advance.
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.

[Deleted User]

Jonesy1977 wrote: »

As I have full proof that I had other means when I took out the card in 1997 and therefore did not need PPI do you think that this will be enough for them to repay me?

Who knows?
It certainly shows that you had no real need for the PPI.

dunstonh

Jonesy1977 wrote: »

Thanks dunstonh that makes sense. As I have full proof that I had other means when I took out the card in 1997 and therefore did not need PPI do you think that this will be enough for them to repay me? I still have PPI on my card and I am positive that I was told that it was necessary for me to take the card (I was 20 at the time) they never asked me if I needed it and I only noticed recently when they wrote to me about my "optional PPI"

They fact they are asking for evidence is encouraging. It would suggest that your complaint will succeed if you can provide it.

amersall

Gemboc wrote: »

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 in advance.
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.

With no proof I would accept what they are offering, you could ask them what they based this on, could be a goodwill gesture unless they have some sort of evidence that they based this on.

jacey45

Please can anyone help? I took out a mortgage/income protection policy with Abbey National in 1999 and at the time I was working for a firm who paid me full pay for six months if I was off sick. I explained to the salesman that I wasnt sure the policy was what I needed but he explained that it was such a good policy that covered me for unemployment, sickness and it had a life insurance element included. I didnt have any life insurance at the time so I took the policy out and have paid it ever since. I had to claim on this policy once when I lost my job and I have always been glad that I had this insurance to fall back on especially after my husband died. (He had mortgage protection that he was told had a life insurance element included only to find out after he died that it didnt but thats another story).
Whilst the policy was with Abbey I never received much documentation regarding the policy but in October last year I received a breakdown of cover from Santander and was really shocked to find there was no life insurance included at all.
I contacted Santander explaining that I was happy with my policy but was really upset about the life insurance not being included after the salesman saying it would be. I explained that I was now nearly 59 so it would be extremely hard for me to get life insurance anywhere because I now had pre existing conditions.
Santander wrote back to me completely ignoring what I had said about the life insurance but offering to pay back nearly £5000 but that if I accepted my policy would be covered.
I wrote back again saying that I was happy with my policy but that I wanted them to address the issue of the salesman telling me there was a life insurance element included in the policy. They are now saying that there was no mention in my insurance documents or welcome back so they were not going to do anything about it.
Do you think it is worth me trying to take it further? My son and daughter in law also had the same policy and they had been told exactly the same thing about the life insurance element but it is not such a major thing for them because the are fit and healthy and have been able to take out other policies.
Has anyone heard of this happening before

dunstonh

jacey45 wrote: »

Please can anyone help? I took out a mortgage/income protection policy with Abbey National in 1999 and at the time I was working for a firm who paid me full pay for six months if I was off sick. I explained to the salesman that I wasnt sure the policy was what I needed but he explained that it was such a good policy that covered me for unemployment, sickness and it had a life insurance element included. I didnt have any life insurance at the time so I took the policy out and have paid it ever since. I had to claim on this policy once when I lost my job and I have always been glad that I had this insurance to fall back on especially after my husband died. (He had mortgage protection that he was told had a life insurance element included only to find out after he died that it didnt but thats another story).
Whilst the policy was with Abbey I never received much documentation regarding the policy but in October last year I received a breakdown of cover from Santander and was really shocked to find there was no life insurance included at all.
I contacted Santander explaining that I was happy with my policy but was really upset about the life insurance not being included after the salesman saying it would be. I explained that I was now nearly 59 so it would be extremely hard for me to get life insurance anywhere because I now had pre existing conditions.
Santander wrote back to me completely ignoring what I had said about the life insurance but offering to pay back nearly £5000 but that if I accepted my policy would be covered.
I wrote back again saying that I was happy with my policy but that I wanted them to address the issue of the salesman telling me there was a life insurance element included in the policy. They are now saying that there was no mention in my insurance documents or welcome back so they were not going to do anything about it.
Do you think it is worth me trying to take it further? My son and daughter in law also had the same policy and they had been told exactly the same thing about the life insurance element but it is not such a major thing for them because the are fit and healthy and have been able to take out other policies.
Has anyone heard of this happening before

A lot of the policies available on mortgages are segmented and allow life assurance, critical illness cover, permanent health insurance, MPPI etc to be bundled into the same plan. However, the combination of segments is up to you. You can have just one or several segments.

An illustration of benefits is issued at point of sale (and followed up with another in the post direct from the insurer) telling you what cover you have selected, how much it is covered for and how much it costs. The policy document doing the same follows afterwards.

It appears Santander didn't investigate your complaint but you fell under the auto-payout (quite common for banks). When they did investigate it, they found nothing to suggest you picked that segment of cover.

Do you have any evidence to suggest you did ask for the life assurance to be included on the plan?