PPI Reclaiming Discussion Part 5

[Deleted User]

island2501 wrote: »

Should I be concerned about the six year rule on this one?

What six year rule? If you have a valid (preferably verifiable ) complaint along with comprehensive documentary evidence then it's still possible to complain about finance from the 1990's!

CatyK

Hi,

Bank of Ireland Mortgage - Account Fully Cleared, Paid and Closed.

I am trying to check and reclaim any PPI for my elderly father, who doesn't have all the necessary paperwork. I duly wrote to the Bank of Ireland asking for a copy of his terms and conditions who responded that they are not able to provide me with data under the consumer credit act as the account is not CCA regulated. They have offered to send the t&cs but will require a fee of £20.00 to do so which I am willing to pay but am unsure as to whether this will be worth our while. Can PPI be reclaimed on non CCA regulated accounts?

island2501

Moneyineptitude wrote: »

What six year rule? If you have a valid (preferably verifiable ) complaint along with comprehensive documentary evidence then it's still possible to complain about finance from the 1990's!

I think I was getting confused with the amount of time the Bank has to hold on to the documentation ( six year time limit)
As I said, I have the documentation as I recalled it from the Banks archive section and have sent it to the PPI complaints department along with my complaint form.
Just a case of waiting now.

ericjn

I took out a Mortgage Protection Assurance policy with LLoyds in 1983.
They are telling me it was a life assurance NOT a PPI. Is this true?
The policy was a life assurance policy the assured sum of which would cover the mortgage. It protected the mortgage in case of death, not default. I kept the insurance until 2008 as it was the only life insurance I had. I paid the mortgage off in 1989.

GhIFA

ericjn wrote: »

I took out a Mortgage Protection Assurance policy with LLoyds in 1983.
They are telling me it was a life assurance NOT a PPI. Is this true?
The policy was a life assurance policy the assured sum of which would cover the mortgage. It protected the mortgage in case of death, not default. I kept the insurance until 2008 as it was the only life insurance I had. I paid the mortgage off in 1989.

Yes, it is true. It is Life Assurance, not PPI.

dunstonh

I took out a Mortgage Protection Assurance policy with LLoyds in 1983.
They are telling me it was a life assurance NOT a PPI. Is this true?

Yes it is true. It is life assurance (clue is in the name of the product - "assurance".

The policy was a life assurance policy the assured sum of which would cover the mortgage.

If you know it is life assurance then why did you put in a PPI complaint?

I kept the insurance until 2008 as it was the only life insurance I had. I paid the mortgage off in 1989.

So, if you needed it, why did you put in a complaint? (ignoring the fact it isnt PPI)

dunstonh

CatyK wrote: »

Hi,

Bank of Ireland Mortgage - Account Fully Cleared, Paid and Closed.

I am trying to check and reclaim any PPI for my elderly father, who doesn't have all the necessary paperwork. I duly wrote to the Bank of Ireland asking for a copy of his terms and conditions who responded that they are not able to provide me with data under the consumer credit act as the account is not CCA regulated. They have offered to send the t&cs but will require a fee of £20.00 to do so which I am willing to pay but am unsure as to whether this will be worth our while. Can PPI be reclaimed on non CCA regulated accounts?

Mortgages are not regulated under the CCA. Plus, PPI wouldn't show on mortgage documentation anyway. So, asking for these things is a pointless excercise. It is also one of the reasons why mortgage insurance has a lower success rate on complaints (i.e. not built into the debt - the other main reason is that most people need mortgage insurance as its a mortgage we are talking about. Not some small unsecured debt).

You can still make a complaint about PPI. However, you need to check you had PPI and you need to know who sold it (a lot of BoI mortgages were via brokers. Not direct - Brokers only became regulated after Jan 2005 - so if its before then its a no go). Complaint reasons with mortgages need to be stronger typically.

jmk62

I wrote to everyone that I had had credit with in the last 10 years. Some I knew I wouldn't get anything back but it was worth the cost of a stamp "just in case"!!
I got £38 from a mail order insurance, £3700 from a loan but LLoyds TSB told me that although I had paid PPI it was my decision so no refund would be given.
I wrote to them to dispute it but they still replied no.
I sent my claim to the Financial Ombudsman and after a bit of tooing and froing they agreed to take on my case.
Yesterday LloydsTSB deposited £3582.00 into my account.
If you're told no by the lender PLEASE PLEASE PLEASE don't give up and go to the Ombudsman, they will let you know if you qualify or not.
Good luck.

Del_Astra

Good Afternoon

I think (hope) I am posting in the correct place, I have lots of questions regarding credit card PPI claims. I will try and explain the situation as best as I can. I intend to go the DIY route as I can't see any reason to give someone else a cut.

I'll start with what appears to be the more straight forward claim. Credit card taken out 2003, this week I cancelled the PPI on it as they sent me a statement. So I have credit card account number and PPI Policy number. The credit card was taken out online, I was in full time employment at the time, I had critical illness cover, death in service, employment protection cover when I took this out.

The other was a credit card I took out in 1994 and had it until 2010. I was a Full time student when I took this credit card out. I did work as and when required in a bar, no set hours. I had savings that amounted to more than the initial limit I was given and the bank giving me the credit card knew this as it was with them. When I took the card out it was for going on holiday and it only had 1500 limit on it. Which for a student working ad-hoc was a fair amount back then. Anyway, still had it in 1997 when I started full-time employment which covered me for critical illness, death in service, two years later I then had employment cover, which paid me £600 a month should I be out of work for a maximum period of 12 months. This one appears more complicated to me in that the service transferred, Abbey Visa card became MBNA. I also don’t have the PPI policy number and cancelled the credit card back in 2010. Do I need to submit a SAR’s to get the PPI policy number or can they do it from the credit card number? I have lots of statements showing Payment Protection Cover on them.

I mention the employment cover as I believe this would have been used to cover any bills, it was taken out when I got on the property ladder and reviewed each year with a view to it covering mortgage, council tax, gas, electricity etc, i.e. essential bills. My mortgage and thus the employment cover were initially taken out via Abbey, but the employment cover was later moved to Aviva (Norwich Union at the time). I mention this as the Mortgage advisor at Abbey was well aware I had a credit card and PPI as they saw my statements, nothing was mentioned about PPI, but I was told taking out employment cover would assist the application for a mortgage.

I never made any claims on any of the PPI policies.

So first question is do I have a valid claim?
If so can I claim back as far as 1994?
Do I need the PPI Policy numbers or can it be done from the credit card number?
Do I submit a claim to Abbey and MBNA or just Abbey? The reason I ask this is it all still came in with Abbey heading paper even in 2009, although you paid MBNA.

-taff

Credit card PPI bought online with no advisor is missbought, not missold, unless the boxes were pre-ticked.

If you were a student and not working more than 16 hours a week when it was sold to you, then you shouldn't have been paying because it would never have paid out. Your circumstances at the point of sale are the ones that count.

You complain to whoever sold it to you, or whoever has responsibility for it when you closed the account.

You need account numbers, not PPI account numbers.

You can claim as far back as you like if you have your own proof and documentation. You can send a SAR and £10 to find out what documentation is left if you have none and no account numbers.