PPI Reclaiming Discussion Part 5

-taff

The claims companies do take on easy wins, so your friends probably had a very large loan with single premium over a period of time that the insurance wouldn't cover. Or a pre-existing illness.
Ask them.
And, as said above, ask them how much the claims company took off them.

bongachong

Hi

I have been going through my paperwork and it seems that I was paying 2 insurance policies for my mortgage.

The first one was with Countrywide Assured. We had a Homepurchase plan which included:
Critical Illness Benefit
Mortgage Payment Protection Insurance
Death Benefit
Countrywide say that the mortgage part is not MPPI so we have no claim. We took this out with our first mortgage in 2000 and was told we had to have all this to get a mortgage. In approx 2005 I spoke to Countrywide about removing some of these benefits after other people told me they had mortgages without them. They agreed and my policy went from £65 per month to £46 after removing the Mortgage and Critical Illness Benefits.

The 2nd policy was with Britannia who have now agreed that we was paying for cover that we did not need. They have wrote to me and said that they are prepared to refund 50% of premiums paid and that I should contact Countrywide to claim the rest.

1. Should I accept the 50% or ask for the full amount as they have admitted that I was paying for something I didn't need.

2. Are Countrywide correct in saying that this is not the same as MPPI?

Any advice welcome.

mallybee

Hi

Apologies in advance if this question has been answered already as I searched on the site but couldn’t find a response.

I sent in a SAR request using the templates on this site to Blackhorse finance (Lloyds UDT at the time of purchase).

I received a final response from them stating that they no longer hold a copy of the agreement but they were able to provide a copy of the statement of the account. The statement shows all of the transactions and a section titled PPI which has 0.00 against it.

The SAR request stated the standard information as follows:

"If you do not hold data for a period longer than 6 years I also request confirmation of this in writing along with your methods used for disposal of such information to comply with the Data Protection Act stating the name and contact information of your registered Data Controller and Code Compliance Officer."


Although I received the statement I didn't receive any information in relation to how the agreement was disposed.

My question is should I receive disposal information on this as part of the SAR request and if I should and haven't what can I do?

The reason I am querying is because I know when I bought the car (I was young and didn't have a grasp on finance) it was second hand and cost £6600 and the charges were £5280. I still have a 'gut' feeling that I took out PPI on the car with the amount of charges being so high even though the statement shows I didn't.

Thank you in advance for any of your help.

Kind regards

Malcolm

-taff

If you don't have paperwork to show you paid PPI and neither do Black Horse your complaint is over no matter what your gut feeling is.

That part of the SAR should be taken out because they don't have to comply with it.

mallybee

Thank you taff for your information.

I thought that would be the answer but its good to get
clarification.

Malcolm

amersall

On the statement they sent you, did it show the opening balance, interest and PPI amount?.

bling152

Morning I had a loan with cahoot I've managed to find the account number but when I've been in touch they said they have no record of me. Has anyone got any clues of what I can do I was thinking of going to a ppi claims company.

Cheers Gary

katcris

Hi Everyone,

I need some help "again". I've written to my bank about PPI on previous loans, they have written back stating we had it on 6 loans. I went ahead with my claim and I received their response that they "refute the suggestion that we were mis-sold PPI" they included copies of loan agreements and PPI leaflets (which is the 1st time i've ever seen these leaflets) signed. They say that everything was explained and there was a full discussion about terms & conditions, costs etc of PPI and these forms have been signed. Some of our loans didn't even require a meeting at the bank, all we done was go in and sign the forms, so how could they explain all this over a counter?? I am so angry as it their word against ours and I have no way of proving it but I do know for a fact that we were never told the amount of PPI charges because we would never agree to additional charges. I feel we can't fight these people, they've already beat me with the bank charges, almost £3000 that I just let go because I don't have the guts to fight them :mad::mad: Should I contact FOS or do I just accept they've won again!!!!

geoff1612

PuppyWonder wrote: »

Are those who use the PPI Claims companies at an advantage over those who chose to do it all themselves? We have been waiting over a year for all three of our claims to be settled.

My claim took about 18 months to be settled but it was well worth the wait! (I was refunded over £18k) Claims companies take a huge chunk of any money you are entitled to, 20-25%. I thought about using one of these but when I realised how much they take I decided to use the Ombudsman. Remember it is YOUR money, don't give these companies anything, they only do what you can easily do yourself!

amersall

katcris wrote: »

Hi Everyone,

I need some help "again". I've written to my bank about PPI on previous loans, they have written back stating we had it on 6 loans. I went ahead with my claim and I received their response that they "refute the suggestion that we were mis-sold PPI" they included copies of loan agreements and PPI leaflets (which is the 1st time i've ever seen these leaflets) signed. They say that everything was explained and there was a full discussion about terms & conditions, costs etc of PPI and these forms have been signed. Some of our loans didn't even require a meeting at the bank, all we done was go in and sign the forms, so how could they explain all this over a counter?? I am so angry as it their word against ours and I have no way of proving it but I do know for a fact that we were never told the amount of PPI charges because we would never agree to additional charges. I feel we can't fight these people, they've already beat me with the bank charges, almost £3000 that I just let go because I don't have the guts to fight them :mad::mad: Should I contact FOS or do I just accept they've won again!!!!

If this was not a final response you can reject this, write back to the bank.
If you paid the PPI in with the loan monthly payment and you repaid one loan with the next, this was Single Premium PPI and after the rebate they gave when you redid each new loan, the remaining PPI was repaid by you in the settlement figure.

If you had no need of this PPI, good sick package from work, savings life insurance, you need to use these as reasons for mis sell too.


If it was a final response then send the rejection letter to FOS with the reasons above.

This PPI, on all these loans, were in fact loans on the loans to term end with interest, you then repaid the remaining PPI after the rebate for early settlement back with the next loan and so on, this would NOT have been explained to you at the point of sale.