PPI Reclaiming Discussion Part 5

-taff

WontGetFooledAgain wrote: »

I would definitely make a claim.
NHS give you good benefits, which may have made the PPI unsuitable.
How long had you been employed by the NHS when you took out the mortgage? Just telling the bank you had 6 months full sick pay might not be enough for them to say that you didn't need it. I would look into other benefits you would have received, specifically death in service (how much would your family have received if you were to die) and redundancy pay. A combination of those would probably lead to the PPI being unsuitable.

The NHS won't cover the mortgage if you die, or if you have a critical illness that lasts beyond 6 months full pay.
Your advice is only really relevant for loan or credit card PPI, not for mortgage PPI.

jbni_2

I applied to extend a loan with the coop bank which was close to finishing and on which ppi had been included, uselessly as i was self employed throughout. I declined ppi for the second loan but was charged a higher interest rate than if i had taken ppi with it. Since the ppi would have been useless anyway and therefore not reduced the risk for the bank, have I any chance of reclaiming the extra interest i paid for not having ppi on second loan?

[Deleted User]

jbni wrote: »

have I any chance of reclaiming the extra interest i paid for not having ppi on second loan?

I think you'd have a hard time proving that you paid higher interest simply because you refused PPI. There certainly won't be anything documented saying this.

nell36

I have dipped in and out of the site for a few years. Having recently found myself working part time for the first time, I have had the time (and energy), to look into matters further. So......Nationwide PPI took about 5 weeks from initial letter and have to say they were extremely easy to deal with (I had no documents). They paid out £2608.05. Whoopee!!

Halifax have done similar to another person who posted and rejected, but I am off to the Ombudsmen.

Just started the Natwest one!

In addition....I read the thread about claiming laundry allowance/shoe allowance (I am an NHS worker). So wrote to HMRC. They then realised that I had over paid tax, in addition to being eligible for the laundry allowance. I was expecting to receive a cheque for about £120 (which I would have been happy with), so was very surprised when they fessed up to tax error and sent me a cheque for £1.900. Have written them a letter today enquiring whether they have any outstanding (they like to try and rectify within the current tax year) for the current tax year which will expire on 31/3/2013. You never know!

It was a good days work when I sat down and worked my way through some of these forums - thank you.

nattie01

Hi newbie here.

Many years ago, I took out a credit card (a RSPCA affinity card) with the Bank of Scotland, who soon afterwards transferred the business to MBNA

I recently tried to reclaim PPI charges on the basis that when I took the card out, I was told that PPI was a pre-requisite and no questions were asked about my health status – I have type 2 diabetes, a family history of hearT disease and recurrent bouts of anxiety and depression. I have even been turned down for life assurance in the past because of my medical status. I also work in the public sector and have very good T&Cs in term of sickness/death pay.

I made the claim against MBNA who rejected it, on the basis that when they took on my business they (allegedly) sent me full the T&Cs of their cover. However, they did refer my claim to the Bank of Scotland who recently settled the PPI I had paid to them in full.

I now have a little over six weeks to lodge my case against MBNA with the Ombudsman if I so wish. Do you think I would be flogging a dead horse to do so – is MBNA’s defence sound? I seem to recall receiving card T&Cs but not anything on the ppi. Also, I thought I read somewhere that there had been a court ruling that credit card companies were obliged to explain in person changes in terms and conditions. The fact that it was a new card company with a new conditions would be a pretty drastic change IMO.

All views will be gratefully received

amersall

Send this to FOS, let them know that BOS redressed, reiterate the reasons you gave for mis sell and ask them to look at the MBNA rejection.

You may wait quite a while with FOS though, you could try MBNA again and ask them to reconsider, if you did not know at the time of taking out the PPI with BOS that you may not be covered for pre existing conditions then , in my opinion, the same applies to MBNA.

Why would you take PPI that may not cover you for sickness due to the Diabetes ( that has more complications and may attribute to any sickness that you had )and you had in place 12 months cover from work, the PPI would only cover 12 payments anyway.

ridingwood

Hi Amersall, I have no idea what we should have been paid but I have heard of some people with around 20k loans getting back approx. 9k in PPI.
If you think this is correct then fine, we should accept. Thanks

amersall

If you think it is wrong, as I said before, you need to get in touch with them and ask them to show you what they used to make the calculation.

You only get PPI back that was actually paid, the interest on the PPI is included in the PPI monthly payment, if their calculation is correct, you have the whole PPI back and extra.

The PPI that people get back, depends on a lot of things, some do get more redress than others, this depends on the total PPI, the term, if the loan was repaid early or ran to term, the loan amount is irrelevant to the PPI redress.

For you to know if the calculation is correct you need to get the bank to show you how they got to the calculation.

If the bank is correct with the PPI they said you paid then it looks right to me, put your mind at rest and get in touch with the bank.

InDeeperThan_I_wanted

InDeeperThan_I_wanted wrote: »

Barclaycard acknowledged my letter (template from here) on the 17th of December but I've not heard back from them since. Whats my next move?

InDeeperThan_I_wanted wrote: »

Well I've still not heard from them. .Is its Ombudsman time?

Interestingly enough I've settled my a/c with Barclaycard no but on my last statement I note there is no PPI charge only the interest.

ceonuse

Hello all,

I have written here for a long time, not since the good old bank charges reclaiming days.

I am currently trying to sort out my mother's PPI claim and its proving to be trickier than i thought.

To summarise, she took out PPI on a M&S Credit Card. She had opened the credit card account in 1999. She closed the account in 2009. At the time we began the claim late last year, she could not remember at what point she took out the PPI and could only find limited paperwork regarding the credit card account, let alone anything specifically mentioning PPI.

What she could remember is that she had been put under the impression by M&S that she would need to take out PPI in order to continue with the loan. The amount of credit available increased over time so we assumed that the PPI was taken out at the time she applied for an extension in her credit limit.

We filled out the PPI questionaire on this basis. In the section E we therefore put the following:
'I was not given the correct information when the policy was sold to me, as your salesperson implied that taking out the policy would assist my credit application. They made me believe that it was essential if the application were to be successful.'

After some time, M&S got back to us. They told us that they had rejected the claim on the basis that we were incorrect to assert that the PPI was taken in conjunction with a credit extension application and that the agreement to buy PPI was done by phone, which would have complied with the necessary requirements.

2 weeks later my mother stumbled across a whole load of M&S statements and paperwork spanning 10 years (bless her she's a pensioner and has become quite disorganised of late) and i have looked through them all. The paperwork does confirm what the bank says in the sense that there was no change in the amount of credit my mother had access to at the time she took out the PPI. It also confirms that the policy was purchased over the phone. However, interestingly, the letter confirming purchase does also state that 'we have identified your demands and needs as those of a borrower who wishes and needs to ensure their repayments are protected...' Furthermore, my mother insists that at the point of PPI purchase she was definitely put under the impression that she needed the insurance.

After that long story, here are my questions:

1. Considering we incorrectly filled in the PPI questionaire, does this in itself signal the death of our claim? If not;
2. Should we re submit an altered questionaire containing the new information, or;
3. should we write to the ombudsmen detailing the new position?

thanks to anyone that ends up reading through the whole post and responding.