PPI Reclaiming Discussion Part 5

amersall

BG1888 wrote: »

Hello all

Back in Sep or Oct 2012 I started the process of claiming back PPI from LloydsTSB from a credit card that I got in Feb 2000 in Jersey. The account is still open and the card is still used. I now live in the UK.
I started off by writing to them for my T&Cs as I have moved a lot and no longer have them. They wrote back to me saying they could not provide them as they cannot find them either! Nonetheless I proceeded with the complaint using the form on MSE and after 8 weeks still no response so I called and was told a decision had not been reached yet but they had sent me a letter (to my OLD address which I had updated with them before I moved ). It was almost 10 weeks by then so I sent all the details to the Ombudsman to hopefully deal with. I called Lloyds today to sound off about sending this kind of info to the wrong address and was told that another letter had also been sent to my new address with a decision but I just haven't received it yet. They said they are not going to uphold my complaint due to lack of information/proof.
Where do I stand with this? The account is still open. I remember exactly where I was working etc etc when I opened it and know for a FACT I paid PPI for about 3 years until I cancelled it myself after seeing the light that I did not need it and it was a rip off. I called Lloyds card services tonight and said can you send me a statement from 2000 - 2003 and they said they no longer have them on record, which I knew they would say but I just know that on those statements there will be the PPI payments. So is that it then? Can they do that just because they can't find my T&Cs and that it was more than 7 years ago? Has anyone else had similar and what was the outcome for you? (I know each case is different though)
Thanks in advance for any responses.;)

It is possible that after 10 years that data will have been destroyed, did you put the card number on the complaint form?.

You could try a Sar request, it is a long shot though due to the time lapse.If you do a Sar then request all info they hold on you and see what they come back with and take it from there, send it to your local branch and head it DSAR request and give them 40 days to respond.

https://forums.moneysavingexpert.com/discussion/1475553

woooody_2

The letter states..As our final response,we would like to offer you £221.12 to bring your complaint to a conclusion.......

This amount of this offer is made up of a refund of all the PPI premiums paid plus interest at 8%.


I do have all my bank statements ! and the premiums show all the way through.

Have they made a mistake or are the trying to fob me off? Had this grief with the missold endowment mortgage that went with this PPi and got nowhere..any suggestions.

amersall

billyboyduke wrote: »

Hi Folks, I wonder if you could help?
I had a loan with HFC Bank which then changed to Benificial Finance.
I recall being told that agreeing to PPI would help my application although i recall stating that i would prefer not to have it. I have just found some old paperwork which shows i did indeed pay PPI.
Q1 Do i have a claim?
Q2 Who do i contacr, HFC or Benificial?
cheers..billyboyduke

Send one to both then you are covered.
Look here for reasons for mis sell

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

amersall

woooody wrote: »

The letter states..As our final response,we would like to offer you £221.12 to bring your complaint to a conclusion.......

This amount of this offer is made up of a refund of all the PPI premiums paid plus interest at 8%.


I do have all my bank statements ! and the premiums show all the way through.

Have they made a mistake or are the trying to fob me off? Had this grief with the missold endowment mortgage that went with this PPi and got nowhere..any suggestions.

As this is a final response, they may not entertain you now as you should pass this to FOS, having said that, give them a call and ask how they got to this figure as you have statements showing more PPI than they are redressing, see what they say.

-taff

woooody wrote: »

The letter states..As our final response,we would like to offer you £221.12 to bring your complaint to a conclusion.......

This amount of this offer is made up of a refund of all the PPI premiums paid plus interest at 8%.
.

If the letter doesn't say your complaint is upheld, then it's a goodwill payment.

You also haven't said exactly what the PPI was, whether it was several insurances, like life, sickness etc, or whether it was solely PPI. If it was a combination of insurances, then they may well have refunded you all the payments associated with that particular PPI.

It's a moot point anyway unless the complaint has been upheld.

woooody_2

Thanks guys... I was told the goverment insisted we all had PPI to cover the mortgage in case of redundancy... Sounded plausable at the time I guess!

I'll ring them tomorrow and see what the have to say... I'll take notes and report back ...

Thanks again W

necktiesareforfools

thank you for your reply amersall

amersall wrote: »

You can use a Sar if you have no card numbers, but give as much info to help them trace your Dad. depending on the years these were taken out, it is possible they no longer have details of these if they were from a long time ago, if there were 2 cards with the same company, ask them to check other cards that were taken with them.

Any cards that you have the card numbers for and reasons for mis sell then put claims in, get your dad to look here for reasons mis sell.


Some of the reasons may have applied to your Dad, was he retired, had good salary and sick pay, life insurance, could he have repaid the card should the worst happen ? he needs to let them know that he had no use of this insurance.

kara7758

amersall wrote: »

Give FOS a ring and ask if Ge are responsible and ask what you should do, as this was 2004, it is possible that Ge were not regulated, but make sure first.

Put a claim for mis sell into Ge, Ge will respond with why the insurer has to deal with this and will pass the claim over to them.[/QUO

Hiya Amersall,
I would be grateful for some further assitance.

Just contacted my insurer re PPI claim and they informed me I had cancelled the policy and had a partial refund in 2006. I don't remember this (which is irrelevant really as I forget lots of things!)

Does this mean this claim is now ended

I paid out £3850 and accepted £765. I have been informed that therefore I knew there was PPI on the original loan. So sorry but have now memory of this!

amersall

kara7758 wrote: »

amersall wrote: »

Give FOS a ring and ask if Ge are responsible and ask what you should do, as this was 2004, it is possible that Ge were not regulated, but make sure first.

Put a claim for mis sell into Ge, Ge will respond with why the insurer has to deal with this and will pass the claim over to them.[/QUO

Hiya Amersall,
I would be grateful for some further assitance.

Just contacted my insurer re PPI claim and they informed me I had cancelled the policy and had a partial refund in 2006. I don't remember this (which is irrelevant really as I forget lots of things!)

Does this mean this claim is now ended

I paid out £3850 and accepted £765. I have been informed that therefore I knew there was PPI on the original loan. So sorry but have now memory of this!

This is why these PPI were mis sold, the unfair rebates, you still paid the remaining PPI back after the rebate, get back to them and ask for their reason that this was cancelled as you have no memory of this, ask them to look at the mis sell complaint again as the PPI was Single premium and you still paid the remaining PPI back after the rebate at cancellation and want this amount of PPI back with interest .

Even if you knew the PPI was on the loan, you were not aware that this was in effect a loan on the loan with interest to term end and you will still pay the majority of this PPI back on cancellation of the PPI or at early settlement, this would not have been fully explained to you at the point of sale to make an informed decision, had you known the full cost of this PPI you would not have taken it.

With all the media lately about the mis selling of PPI you would not have realised that the rebate they gave ( if you could remember the cancellation ) was out of proportion to the total PPI that you actually paid.
Ask for proof of the cancellation and documents to show the PPI rebate and what you paid back in PPI when the loan was cleared.

Louie_Lou_2

amersall wrote: »

They are correct I am afraid, you should have (and they should have told you ) to take the actual PPI total they gave you back and give this to Paragon to take off the balance of the loan, this is the only way your balance will decrease.

Your loan was not reset due to the mis sell as you have had the whole PPI back and the interest to you, you have not paid all this PPI back yet as the loan is still running so they have given you more back than you actually paid and the total PPI.

Loans.co.uk sold you the loan and the PPI , Paragon only loaned you the money, if you have any spare money left, I would pay this off the loan and save yourself a lot of interest.


The loan and PPI runs for 24 years, this is why your claim has been upheld, the PPI only covers you for 10 years, at that point you no longer have cover but are still paying the PPI back with interest for another 14 years.

If you had won mis sell and had the loan reset ( and not used a broker, loans.co.uk) the whole PPI would have been taken off the balance, your monthly loan payment would have gone down by the monthly PPI amount, you would have received the monthly PPI that you paid for the 7 years with interest back to you, this is why it still on the loan for the next 14 years with interest unless you can pay some back to Paragon.

Hi, Thank you coming back to me and your explanation.
I do understand what you have said in that as the loan is still on going and they paid me all of the PPI I would still owe them.

But would I not just owe them the difference from 7 years having already paid to the end of the term, as otherwise am I just not paying them again what I already paid for the last 7 years? They may as well not have refunded me as I'm just paying it back to them am I not? Would there not be some adjustment to the now total current balance for what I have already paid in PPI?
Many thanks for your help, sorry to be a pain.