PPI Reclaiming Discussion Part 5

amersall

Manu31 wrote: »

I made a PPI claim over 8 months ago.
Every time I contact them, I'm told there busy and when they get time they will investigate my claim.

Is there a time limit for these claims or will I be still waiting in years to come.

If someone knows please tell me.

Regards
Manu31

Who did you make the claim to and did they acknowledge this?.
If it was FOS then you will have a long wait I am afraid.
If it was a bank then you need to complain to them about the long wait, they should have looked at the claim and responded with a win or rejection by 8 weeks, if they needed more time than this then they should have told you.

Donnymoor

I have posted up previously giving a little information about my circumstances.
My partner and I took out a loan in 2001 which was secured on our property.It was a joint loan for which we were both obviously responsible for making repayments.
My partner passed away suddenly in 2007 and I repaid the loan.
I have recently contacted the loan company to enquire if there was ppi involved and I have confirmation from them that there was.
However they have stated that it was single cover in my partners name and that I have to provide proof of Power of Attorney to proceed.
Surely if it was a joint loan and I also contributed to making
the monthly payments from our 20 year old joint bank account I should not be required to do this.Are they just trying to be difficult?

sandiron53

6 weeks ago I found some paperwork dated 1994 relating to a mortgage offer.

Listed in the offer was:

a) Interest repayment amount
b) Home insurance cost
c) PPI premium

Today I received a settlement offer of nearly £5,000 from the Bank covering the cost of premiums and the interest at 8% on those premiums.

While I am surprised and pleased, should I be seeking further compensation for the inconvenience etc. etc?

[Deleted User]

sandiron53 wrote: »

should I be seeking further compensation for the inconvenience etc. etc?

Redress awards are defined and not negotiable.

-taff

Donnymoor wrote: »

However they have stated that it was single cover in my partners name and that I have to provide proof of Power of Attorney to proceed.
Surely if it was a joint loan and I also contributed to making
the monthly payments from our 20 year old joint bank account I should not be required to do this.Are they just trying to be difficult?

No, they're trying to establish you have the ability to complain on his behalf.
Give them what they're asking for.

Donnymoor

Thank you Taff.
Sorry for sounding silly but how do I gain power of attorney? Do I see a solicitor for this?

amersall

Donnymoor wrote: »

Thank you Taff.
Sorry for sounding silly but how do I gain power of attorney? Do I see a solicitor for this?

Don't think you need power of attorney, were you the one that dealt with your partners estate and did you go to probate?, if you did then a copy of the probate letter should suffice or a letter of administration.
You will have been covered with this PPI but for life only, the bank want proof that you can make the claim with it being joint.

Post your question here

http://forums.moneysavingexpert.com/forumdisplay.php?f=217

They are more in the know regarding this and can help you more

Sorry for your loss x

Bluenose1875

Hi, I do hope this is in the right place!

Contacted ltsb to ask if I had ppi. I have never purchased it as far as I am aware. Received a call advising I had it on 3 out of 4 of my loans. I have now received a letter advising the ppi was bought fairly and it was explained to me. The first I knew I had it was when someone called me to advise I had. I have explained I have never bought it to my knowledge and this has been taken as further information. Can someone please advise Where do I go from here, many thanks

[Deleted User]

Since credit card PPI appears on every monthly statement and loan PPI appears on the original agreement, complaining that you didn't know you had it is not a valid mis-selling complaint. Claims companies like to use this angle to entice people into becoming their complainants, but the truth is that PPI was not just randomly added without the knowledge or agreement of customers. If you truly had no knowledge of having PPI, you've either simply forgotten or you don't look at statements.

From here, you can refer your complaint to the Ombudsman if you wish. However your complaint is weak and unlikely to be upheld by the Ombudsman unless other faults are found with the sale of PPI.

amersall

Bluenose1875 wrote: »

Hi, I do hope this is in the right place!

Contacted ltsb to ask if I had ppi. I have never purchased it as far as I am aware. Received a call advising I had it on 3 out of 4 of my loans. I have now received a letter advising the ppi was bought fairly and it was explained to me. The first I knew I had it was when someone called me to advise I had. I have explained I have never bought it to my knowledge and this has been taken as further information. Can someone please advise Where do I go from here, many thanks

If you paid the PPI on the loans in with the monthly payment, this is Single Premium PPI, one reason you can use for mis sell, if you took one loan to repay the previous one, this is consolidation, if both of the above apply to your loans then you need to get back in touch with TSB and reject the reasons they gave for not upholding.
Single Premium PPI was in fact a loan on the loan to term end with interest, if you settled a loan early ( especially with another loan from TSB) you would have received a rebate of the PPI but you would have repaid the remaining PPI back in the settlement figure, if this was taken from the proceeds of the next loan, you would after the rebate be repaying the remaining PPI back in with the new loan to the term of that loan with interest.

What reasons did you give for mis sale of this PPI originally? if it was the fact you did not know that you had it then this is easily rejected.

If you had a good sick package from work, savings or life insurance and did not have a need for this PPI as you were already covered then say this, use the Single Premium fact and the unfair rebate at early settlement and how the PPI worked with consolidation loans and the fact that the cost of this was not fully explained to you to make an informed decision at the point of sale.

This does not guarantee that it will be upheld but you will have tried, if the TSB rejection was a final response then you need to send the complaint to FOS, using the same reasons given above.