PPI Reclaiming Discussion Part 5

peanutbutter_cups

hi all long time no post glad to see u all keeping up the good work xx
firstly i claimed on 3 joint loans and a cc just in name at the back end off last yr and i have just remembered a joint cc that we had that was paid off in the first of the 3 loans now i dont have any paperwork for the cc but would they be able to trace the card from the loan??
secondly im sure ive read somewhere about ppi been added to overdrafts?? the reason im asking is i have found some paperwork from the bank reg our joint account that had overdraft on. it basicaly says they was changing our account as we was paying so much a month in charges to a diff type that would save us £1 a month this paperwork was signed by the bank staff member not me or ex hub.at the time been young n stupid we probs thought aww bless look at the nice bank wanting to save us money now im thinking ekkkk wot the hell did they sign us up for.
as im sending a letter about the cc id thought id ask u kind folks think reg my second question is it worth adding it to the letter to find out if anything was added without our knowing??

phil___2

Hi all new to the forum. I just found out i had ppi on 1 loan with rbs and 2 with beneficial finance in 2006 and was wondering if anyone could help me with the questionnaire. Since this in 2006 i cant remember the exact details. I'm not really sure what to put, if anyone could help that would be appreciated.thanks


1-If you think you were not eligible for the ppi policy or the significant exclusions were not explained to you at the point of sale please give full details below including why you believe that you were not eligible for this ppi policy

2-If you did not understand that the ppi policy was optional, if you did not choose to take out a ppi policy with your loan of if you felt that we pressured you to take the ppi policy. In addition your policy should have been sold on a non advised basis. If you received a personal recommendation to take out the policy please give full details

3-if you feel that we did not explain how your ppi policy was paid for, or if the cost of the policy was not explained to you please give full details

4-If you believe that we did not clearly explain to you at the point of sale that only a partial rebate was payable If you cancelled early but after 30 days please give full details

(i didnt cancel )

5-If you feel that you have other ground for complaint against the sale of your ppi policy or wish to give further details please provide any additional information in support of your complaint

thanks guys

greene123

Hi guys,

I'm new to the forum, but thought some of you may be able to help me out here

Info:
Feb '11: MPPI (provided by mortgage company) upgraded to £1002 of cover (current mortgage payment £501)
Nov '11: moved to new lender - new mortgage payment £357
Nov '12: equity released - new mortgage payment £492

Today I spoke to my MPPI provider and found out that my deal will only offer a payout of a maximum of double my mortgage payment.

This is pretty frustrating as it means throughout the period of Nov '11 to Nov '12 I've been paying for £1002 of cover and if I needed to claim, would have only received £714!

Whilst I'm not trying to jump on the PPI claim train, I did wonder if this was somehow related and if there was anything I should be doing?

Am I in the wrong here for not advising my mortgage company or MPPI provider that my mortgage rate had reduced and therefore no longer fell in line with their policy or should I have been advised of this upon taking the MPPI or perhaps when my mortgage company received my redemption request?

Is this worth pursuing or am I wasting my valuable time?!

Thanks in advance...

amersall

greene123 wrote: »

Hi guys,

I'm new to the forum, but thought some of you may be able to help me out here

Info:
Feb '11: MPPI (provided by mortgage company) upgraded to £1002 of cover (current mortgage payment £501)
Nov '11: moved to new lender - new mortgage payment £357
Nov '12: equity released - new mortgage payment £492

Today I spoke to my MPPI provider and found out that my deal will only offer a payout of a maximum of double my mortgage payment.

This is pretty frustrating as it means throughout the period of Nov '11 to Nov '12 I've been paying for £1002 of cover and if I needed to claim, would have only received £714!

Whilst I'm not trying to jump on the PPI claim train, I did wonder if this was somehow related and if there was anything I should be doing?

Am I in the wrong here for not advising my mortgage company or MPPI provider that my mortgage rate had reduced and therefore no longer fell in line with their policy or should I have been advised of this upon taking the MPPI or perhaps when my mortgage company received my redemption request?

Is this worth pursuing or am I wasting my valuable time?!

Thanks in advance...

Start a new thread, title it as you have here and post it here

http://forums.moneysavingexpert.com/forumdisplay.php?f=187
you will get all the help you need as they are better placed to deal with MPPI.

amersall

phil__ wrote: »

Hi all new to the forum. I just found out i had ppi on 1 loan with rbs and 2 with beneficial finance in 2006 and was wondering if anyone could help me with the questionnaire. Since this in 2006 i cant remember the exact details. I'm not really sure what to put, if anyone could help that would be appreciated.thanks


1-If you think you were not eligible for the ppi policy or the significant exclusions were not explained to you at the point of sale please give full details below including why you believe that you were not eligible for this ppi policy
If you had no need of this PPI , maybe you had a good sick package from work and life insurance or a pre existing medical condition, show that you had no need of this PPI.

2-If you did not understand that the ppi policy was optional, if you did not choose to take out a ppi policy with your loan of if you felt that we pressured you to take the ppi policy. In addition your policy should have been sold on a non advised basis. If you received a personal recommendation to take out the policy please give full details

3-if you feel that we did not explain how your ppi policy was paid for, or if the cost of the policy was not explained to you please give full details

4-If you believe that we did not clearly explain to you at the point of sale that only a partial rebate was payable If you cancelled early but after 30 days please give full details

(i didnt cancel )

5-If you feel that you have other ground for complaint against the sale of your ppi policy or wish to give further details please provide any additional information in support of your complaint

thanks guys

If you paid the PPI in with the loan payment each month and not as a separate payment, the 3 & 4 will definitely apply, especially with the 2 loans as if the second one was taken and repaid the first one, you would have had a rebate of the PPI and the remainder of the first PPI after the rebate would have been paid by you in the settlement figure.

The PPI (if you paid this in with the monthly loan payment) would not have been explained fully to you at the point of sale as this PPI was in effect another loan that you repaid back over the remaining loan term with interest.

amersall

Flamingo80 wrote: »

Hi all,
Just received a letter this morning from Halifax denying that our PPI on mortgage was mis-sold but my reasons fall into the categories mentioned in this article. They seem very definite in their letter.
Has anyone else had dealings with Halifax? Is it worth me pursuing? Bearing in mind today is the due date for my first baby, I feel really deflated
Thanks in advance for any advice. xx

Hope all goes well for you with the birth x

You need to post your question here
http://forums.moneysavingexpert.com/forumdisplay.php?f=187
They are better placed to answer your question re MPPI.

amersall

peanutbutter_cups wrote: »

hi all long time no post glad to see u all keeping up the good work xx
firstly i claimed on 3 joint loans and a cc just in name at the back end off last yr and i have just remembered a joint cc that we had that was paid off in the first of the 3 loans now i dont have any paperwork for the cc but would they be able to trace the card from the loan??
secondly im sure ive read somewhere about ppi been added to overdrafts?? the reason im asking is i have found some paperwork from the bank reg our joint account that had overdraft on. it basicaly says they was changing our account as we was paying so much a month in charges to a diff type that would save us £1 a month this paperwork was signed by the bank staff member not me or ex hub.at the time been young n stupid we probs thought aww bless look at the nice bank wanting to save us money now im thinking ekkkk wot the hell did they sign us up for.
as im sending a letter about the cc id thought id ask u kind folks think reg my second question is it worth adding it to the letter to find out if anything was added without our knowing??

Welcome back xx
There are cases of insurance added to overdrafts, ask the bank, you won't know until you do.

glkelly

Hi
My husband and I were sold mortgage payment protection for himself when we remortgaged 4 years ago. It was a one off payment of almost £4000.

A year later my husband moved out and has not contributed towards to mortgage payments since, including the mpp.

Is there any way of claiming this back at all and if so how?

Thanks

PON_7949

Hi guys, am new to this forum, so apologies if I am postingin the wrong place, but could really do with some advice.



I took out a Credit Card with Natwest back in 2005, shortlybefore embarking on a full time degree. Two weeks after I took out the card, Ireceived a call from Natwest, with the aim of selling me PPI, to which at thetime I stupidly agreed to. I was working twenty hours per week at the time, whichwent down to around 12 hours per week for the first year of my studies, thenincreased to around 24 hours per week from then on. I did advise the person that I spoke to of this at the time.



Upon realising that I may have a claim due to visiting thissite, I contacted Natwest just before Xmas to lodge a complaint for mis-sellingof PPI, mainly on the grounds that I explained to the adviser at the time thatI was due to embark on a degree and my hours would be reducing, but also thatshould I fall into any financial hardship, either my student loan or ownsavings would have been sufficient to help me. Around four weeks ago, Ireceived two phone calls from a PPI Complaint Adviser at Natwest, asking me howmany hours I was working when I took out the policy, and when I commenced fulltime work (Which wasn’t until 2008). I once again also stated that I would nothave needed this cover due to my other financial arrangements.



I received a letter around two weeks ago from Natwest,stating that they are defending their claim, mainly on the grounds that the PPIcover had been showing on my statements since I took out the policy (It willhave been active for over four years) and that when I received the phone callfrom their team to sell me this PPI, the ‘Script’ that they will have gonethrough will have explained thoroughly what I was signing up for. It alsomentions that I was working 20 or more hours a week, throughout the course ofthe policy, and therefore would have been eligible for the cover.



I want to take this further, as in to the Ombudsman, butwould really appreciate some advice on whether or not some seasoned PPIcomplainants think I have a case. My grounds for complaint in how this has beendealt with by Natwest are that I don’t believe the advisor took notice when Iadvised that my working hours were due to decrease, and that as I’m almost sureNatwest are unable to provide a transcript of the conversation that took placebetween myself and the advisor, they can’t prove that they acted properly or listenedto what I said, instead of adding the cover when it wasn’t actually relevant.



I hope the above makes sense, and once again I would reallyappreciate any advice that anyone can give me.



All the best,

Dollymix12

Hi Just looking for some advice really, I have had around 5loans and 1 mortgage from Lloyds since 2000 and have always gone into thebranch to organise (the last one was 2009 and still running) I have raisedcomplaints with the PPI on the loans as I have always felt pressured intotaking it out and been strongly hinted at that they would not proceed with theloan if I refused the PPI. I have just had a call about the one from my lastloan in 2009, which I felt extremely pressured into taking the PPI as well asthe loan as I was in a little bit of debt and was struggling to get out of it.At the time I felt that the loan was the only way out of the mess I got myselfinto and if I didn’t get the PPI I wouldn’t get the loan and after a few monthsI cancelled the PPI as I knew I had felt this way and didn’t need it. I have just had a phone call from Lloydsasking for further details and I don’t feel that I explained myself very wellas I did mention that I had adequate cover from work at the time which wasignored by the man in the branch eg death benefits, sick pay and redundancy policy’sand they seemed to focus more on this.
I suppose I’m trying to ask do you think it sounds like Ihave a chance at getting my money back. It is only a few months’ payments soI'm not that worried if I don’t because I did sign for it but feel like I didn’treally have a choice about it!