PPI Reclaiming Discussion Part 5

jubilee14

-taff wrote: »

you need the account numbers and a verifiable complaint reason. Read this, ignore the bit about asking for your T&Cs, you need the ccount numbers, not the agreements...
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Thanks the original CC was taken out in 2002 and have statements up till 2007 showing PPI. I think i took original card via internet but cant honestly recall. Do i have any call and will my honesty expose me for failing to remember how they sold it to me?

Cant find the original paperwork for the firts loan or the loan reference no.

-taff

If you bought it over the internet you missbought rather than were missold unless the boxes were pre-ticked.

totalhysteria

Moneyineptitude wrote: »

If you made two separate complaints they should have been treated as such. Did you receive separate acknowledgements?

Hi,

Looking back at the original reply, it seems to only refer to the credit card in the account number part of the letter. Is it best to write back and point this out, or send a new fos questionnaire in?

This loan was sold to me over the phone, so I suppose it's a completely different kettle of fish to the original card signup online.

sportmonkey666

Hello, can anyone suggest how I can word a letter to Lloyds TSB regarding miss-sold PPI?. I requested the loan agreements for 4 separate accounts with them and they all show that I have signed for PPI (the staff member just asked me to sign here and here, I didn't even know what PPI was until I discovered this website last year. I will be attempting to reclaim on the fact that it was never discussed with me when taking out each of the loans. Has anyone else tried to reclaim due to this? and have you been successful?

Confusingly I received a letter from the same bank this morning telling me of a possible miss-selling of PPI on another account which I can't even remember and asking me to fill in a questionnaire.

Eloise32

Can I ask, if I approach my lender to re-claim my PPI, and I have debt with them which is under a debt management plan, does the bank reserve the right not to pay out my PPI, and offset the payout against my debt?

m_pochec

amersall wrote: »

With your status at the time of the loan, I would imagine that you had a need of this insurance,the life part anyway, having said that, you could argue that you tried to make a claim and "stress" was not covered but you would still have needed the life insurance, being on your own with 2 children.

You went off work sick with stress and were unable to repay the credit, had you been able to claim on the PPI and stress was covered, they would only have paid the credit for 12 months, how would you have made the payments after this?, this is not a criticism by the way, I am trying to show that you cannot show you had no need of any of the cover.
You may just have to accept the redress and move on, there is no point me telling you to reject the offer on the basis that you did not need it, you clearly needed the life insurance, you could argue the point that had the PPI covered you for the stress, a 12 month claim would have been made, you would then need to prove that you could have repaid the credit after the 12 months and going forward, see what I mean?.

Argue the point regarding the PPI not covering you and ask them if the alternative cover would have paid out for stress and if it did not then the PPI, at that point, was of no use to you, you may as well ask because you will be no worse off than you are now if they refuse, you could take
this to FOS if you still don't agree but be prepared for a long wait.



You need to see if the PPI covered you for stress, if it did not, use the same argument again as for the loan.


if you paid the PPI in with this loan monthly payment, this is single premium PPI, reject the decision on this basis, if this did not cover for stress then use that reason as well, same with Halifax if it was Single Premium.


So you had redress for this but are arguing that Welcome did not mention PPI to you or the FOS? sorry, don't know what answer you need to this.


Same with this as Lloyds and Halifax.


Sometimes PPI on a card is put on after a telephone call to the card holder, if your partner was mis sold then send the claim to the FOS.

Hope I have helped you with all this, if you need any more help, just ask.

Thanks for that Amersall, yes it definately helps its pretty much what I was thinking but wanted to get anothers thoughts on. Regarding Welcome Finance i never recieved redress from them and not for PPI. The FOS made them recalculate a settlement figure staggered by welcome in 2007 as they treated my situation unsympathetically adding crazy interest and keeping me in debt despite strenous efforts on my part to settle the account . (Long story) but was nothing to do with PPI as niether myself or the Ombudsman were aware of PPi on the loan until now. I think your right regarding the others and the complaint relating to the stress is proberly the way forward. Do you also think that I also have proof in the policues i was not aware of in light that i never made claims on the polices at a time i would have been expected to? Thanks for your input and i will let you know how i get on. P.S got a cheque today for a smaller loan from Barclays for £800 as complained i was not aware of the PPI. They didn't even Um an AR about it just a stright forward uphold and heres your money back plus 8% simple. Its a start :j

-taff

Eloise32 wrote: »

Can I ask, if I approach my lender to re-claim my PPI, and I have debt with them which is under a debt management plan, does the bank reserve the right not to pay out my PPI, and offset the payout against my debt?

Yes they do.

-taff

sportmonkey666 wrote: »

Hello, can anyone suggest how I can word a letter to Lloyds TSB regarding miss-sold PPI?. I requested the loan agreements for 4 separate accounts with them and they all show that I have signed for PPI (the staff member just asked me to sign here and here, I didn't even know what PPI was until I discovered this website last year. I will be attempting to reclaim on the fact that it was never discussed with me when taking out each of the loans. Has anyone else tried to reclaim due to this? and have you been successful?

Confusingly I received a letter from the same bank this morning telling me of a possible miss-selling of PPI on another account which I can't even remember and asking me to fill in a questionnaire.

Don't bother with a covering letter, just send the questionnaire in, and your current complaint is hearsay, and can't be proved.

Loook instead towards you didn't need it or want it because you could cover your payments with another income, or good sick pay terms. If they were loans that followed on form each other, i.e. consolidation loans where you consolidated the old loan into the new one and took out a higher loan each time, you were probably paying single premium on a consolidated chain of loans.

tourettes

tourettes wrote: »

Hello, firstly I must say thank you to all that have posted on here about claims as they kicked my behind into gear with regards to my claim.
I claimed on 2 loans with PPI from Lloyds bank one was partly upheld and the second was upheld for a total of £3854.54.

I am in arrears with payment due to unemployment, they closed down the accounts and took me to court, so I am now paying as much as I can afford.
the decision letter states they will make arrangements for payment to resolve the matter, this payment will be made within 28 days by cheque sent to your home address or direct to your account, and therein the question:
Will they send me a cheque or will they deduct the money I owe them which is being handled by a collections department as the accounts are closed?

Either way it's almost like something for nothing, so I'm not too bothered, but 28 days is a long wait.;-)

once again thanks if you made it all the way through that, and I will post my result in the other thread when it all becomes final.

amersall wrote: »

Looks like you are getting it.

amersall wrote: »

Keep us posted.

Well I received my cheques this morning so thanks to everyone who has contributed to this thread, it makes a big difference:money:.

I'm guessing they had to pay me via cheque as they closed down my accounts years back, instead of taking it off the amount I owe?

amersall

Do you also think that I also have proof in the policues i was not aware of in light that i never made claims on the polices at a time i would have been expected to?

You should use this as a reason for the mis sell, why would you have a product in place and then not use it, also, they may not have covered for stress either.
Well done with Barclays and fingers crossed for the others, the Welcome loan would have been Single Premium, this was in fact a loan on the loan that you repaid to term end with interest, hopefully this will have a positive result for you.