PPI Reclaiming Discussion Part 5

Majestic

Hi,

just received correspondence from Capital One regarding PPI, they sent me a copy of my original credit agreement (as requested) and I can see that I didn't check the box that asked if I wanted PPI, yet i've been paying for it since the agreement started back in April 2008(!)

I've been paying around £9.50 for it recently, but i'm not sure what I was previously charged before I even realised I was actually paying for PPI.

My question is, how do I know how much i'm owed?

-taff

You may not have ticked the box but they would have sold it to you at a leter date over the phone when you activated the card.
You won't know unless you have all your statements The only way to get those is to send a SAR and £10 to get them [front page sticky]
You will have to submit a complaint to see if you are 'owed' anything.

Majestic

I purposefully avoided ticking the box, and i'm certain I never discussed taking PPI out over the phone after signing the agreement by post.

I was thinking of simply calling them tomorrow to discuss 'misselling'

Just wondered how I would approach this option.

Thanks for your reply taff.

[Deleted User]

Majestic wrote: »

I purposefully avoided ticking the box, and i'm certain I never discussed taking PPI out over the phone after signing the agreement by post.

Their records will obviously show otherwise, I'm afraid. They often called to persuade people after the agreement was made. It's a myth fostered by Claims Companies that PPI was routinely added without the knowledge or permission of the customer.

Majestic wrote: »

I was thinking of simply calling them tomorrow to discuss 'misselling'

What would this achieve? You won't be discussing it with anyone responsible for upholding your complaint. Do you really think they'll allow you to debate your PPI complaint on the 'phone?

The only correct way to proceed is to follow the complaints procedure as agreed by all the Banks;
http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance

It's also important that you realise that you aren't "owed" anything. You need to show that you've been mis-sold (and for the Bank to agree) before you are entitled to any redress.

Read and digest the MSE advice I linked to and be advised that Capital One has the lowest uphold rate at FOS of any lender, partly because their procedures were so thorough.


EDIT; You should also note that if you defaulted on this finance then any amounts written off as part of a DMP etc would likely be offset by the Bank should your complaint be successful.

Majestic

Moneyineptitude wrote:

Majestic wrote:

I was thinking of simply calling them tomorrow to discuss 'misselling'

What would this achieve? You won't be discussing it with anyone responsible for upholding your complaint. Do you really think they'll allow you to debate your PPI complaint on the 'phone?

I'm confused, you tell me to follow the guide on the reclaim section, which suggests calling my lender as a valid option, yet you've suggested that this is pointless.

STEP 3. CONTACT YOUR LENDER

Write or phone the company that sold the policy and ask for a refund. In the old days this often meant following a dance - thankfully it's much easier now.

It's sometimes possible to deal with your whole complaint by phone. Find the contact details for the main banks in the PPI reclaiming's getting easier MSE news story. If it works, great. If not send a letter - see the templates below.

In regards to being sold PPI, the credit agreement has my signature on the PPI section, but the box remained unticked, I think I must've accidently ticked it as it is entitled 'Form of Consent' and then underneath it has the PPI tick box which, as I say, remained unticked, because put simply, I didn't want it.

Looking at the bottom it makes it clear that I need to tick the box AND sign to opt into the option of PPI. This didn't occur.

To finish the account has not defaulted, and i'm still using it at present, which is how I know i'm still being charged PPI via my online statements.

Was just looking for a bit of advice as to my next move was all.

-taff

It wasn't clear that you measnt you would be complaining when you phoned, not discussing it.

If you want to phone and complain, not a problem, but if your complaint is on shaky ground as far as verifiable reasons for complaint, then a paper trail will help if it needs to be referred to the FOS.

If you activated the card after 2005, there will probably be a recording somewhere to say you agreed to it over the phone, if before, the company you are complaining about will have a sales script that they will say they followed.

If you can think of any other reasons that it was no good to you [that you had enough money in savings to cover the card for a year, that it woulnd't have paid out etc] then you stand a better chance.

The fact that it's been on every statement where you had a balance since makes it impossible to claim you had no knowledge of it.


Also, depnding on the amount, you may get lucky and receive an auto payout.
There are a lot of variables regarding your complaint because we don't know everything

thecoopers

Hi All,

I've had one claim with MBNA upheld with the FOS and MBNA have confirmed they accept the FOS position (that was 21/01/13). Will it really take them 10 weeks to re-calculate my card balance? Is there any merit in me chasing them up?

Also - the FOS initially upheld my claim with Barclaycard, but they have contested it, it is now waiting review by an Ombudsman. Has anybody had any experience of this and if so what was the outcome?

Many thanks.

Tantrums

Hello, I was paying a monthly fee with Barclays on my current account for added benefits/enhanced services including an enhanced overdraft. Would this be covered by the PPI claim too please? Thanks you.

mrsbowie

Hi I've never took much notice of ppi claims because I couldn't lay my hands on any paperwork, until yesterday, about 15 or more years ago I took out a loan for a couple of grand from Lloyds it looks like the ppi was about £700 ish I then renewed that loan also with ppi then maybe another one, I do remember feeling a bit scared if I didnt sign up to it by what the guy told me, ie if youre ill blah blah! I noticed on the sleeve of my pack that it says OPTIONAL LOAN PROTECTION, if it says optional does it mean it was my choice and that I wont be able to put a claim in?

If I am eligable for a refund, can I just ring the bank as it says on the Lloyds website? Or even call in at my branch?
thanks

amersall

As this was 15 years ago it is possible they have no details of this loan.
Call in your local branch, take copies of agreements that you have, you may also need to show these were paid in full, they need to know the PPI and loan were paid or settled early, just showing an agreement does not give any more info than the fact you took the loan, you could have settled early or cancelled the PPI at some point.

Look for reasons that you may have been mis sold.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Let us know how you get on.