PPI Reclaiming Discussion Part 5

-taff

ian2013 wrote: »

. Seems crackers that it could take 28 days from that point?

Not really, yours won't be the only one, so they're just estimating the size of the queue.
I don't think 28 days is too long to wait being as you've been years without the money....

-taff

Pageant86 wrote: »

I have recently received written notification from the FSO that my claim for PPI against Leeds City Credit Union cannot proceed as policies were sold before January 2005. What can I do? At the time of taking out (and renewing) the loan at no point did anyone from LCCU suggest that PPI was not relevant as I was an employee of the council and thus have payments deducted from my salary each month.

In June 2013 I received a payment of £4000 from Lloyds TSB for missold PPI on a loan from 1999; for this claim all I had was the policy number and no further paperwork but an offer was made and accepted.

Any advice welcome!

It doens't matter what you had from Lloyds, they were regulated then, Leeds CU weren't.

The only option left to you is to complain to the underwriters of the insurance. They also can dismiss your complaint because they didn't sell it. There is a slim to non-existent chance that there is a direct link between the seller and the insurer.

FreyaWillow

Hello

I am now about to start going through the process of reclaiming my PPI. I had a loan with HSBC which I want to claim on. I currently have another loan with them. I'm not in arrears or anything with my loan payments. In this situation would they use my PPI refund to reduce my loan if my claim is accepted? If so could I ask them not to?

-taff

Only if your payments were in arrears would they use it.
You'd probably be better off doing that anyway as you'll pay less interest.

amersall

chog24 wrote: »

I've had PPI in the past and now I'm checking the policy, one of the things it says is that if you're made redundant, you won't be covered if you're paid in lieu of your notice. In my industry, both redundancy and being paid in lieu of your notice are pretty common. Had someone pointed out that item in the small print, I'd have known that the policy wasn't suitable for me. But surely it's my responsibility to check out the small print, isn't it?

The wages in lieu are income for a set period so as you have had weekly/monthly pay upfront, you are not "redundant" until this runs out, you claim on the PPI when the wages in lieu run out and I believe JSA works the same as well.

[Deleted User]

chog24 wrote: »

I've had PPI in the past and now I'm checking the policy, one of the things it says is that if you're made redundant, you won't be covered if you're paid in lieu of your notice.

No, it will clearly state that you won't be covered for the period covered already by payment in lieu of notice. In effect, you are aren't redundant until this period has ended and so the insurance only kicks in at the point when you are actually redundant.

So this is not a mis-selling reason, I'm afraid.

TottyB

Hi there

In August this year, I wrote to Lloyd TSB asking a list of all the loans that had PPI attached to it. They said they could only go as far as 6 years (but I know that claims companies can get information as far as 10 years) and they responded by letter and informed me that I had three loans that had PPI attached to it. I filled out their form and today (25 October 2013) I received a letter saying that they will pay only for one of the PPI's £648.74 and for the other two PPI's they have refused.

The second PPI they claim that no PPI was paid for, yet in their first letter they gave me the account number saying that there was a PPI attached to this loan. One minute they are saying I had a PPI with a loan and next minute they are saying this was not the case.

The third PPI they claim, I cancelled the PPI within 30 days - but I admit that I do not remember doing that.

I am also sure that I had paid for other PPI's in the past but as it was so long ago, I threw away the paperwork when the loans had been paid for, hence the reason by I wrote to the bank asking for the loan account numbers.

Before asking them whether I want to accept or reject their offer, should I take it further by either going to the Financial Ombudsman or via a claims company?

Many thanks for any helpful advice received.

-taff

Wel, you've already complained once so you can't use a company. If you want to throw away 35% of any potential complaint in the future, then feel free.

I see you haven't really done any reading about your complaint despite being advised to in April.
Claims companies C ANNOT get more information at all. If you had sent a SAR and £10 to see what info there was [ front page sticky template] then you could have had more information regarding your complaint.

If you did have PPI with the second loan it's conceivable that you cancelled it, but without paperwork, you can't say you did or didn't pay it.

It's entirely up to you whether you take it further or not, only you know what your complaint reasons were.

TottyB

@taff: What are you talking about throwing away 35%? Clarify this. Do you mean if I were to do this through a claims company? Actually, I know of a claims company that takes 14%.

Also there are hundreds and hundreds of threads to trawl through and frankly, not everyone is like you with lots of of spare time and diligent enough to go through 100's of pages. Remember that. I asked questions, not to be berated for it. Anyhow, thank you for pointing out the sticky thread. That I do appreciate.

Insider101

chog24 wrote: »

I've had PPI in the past and now I'm checking the policy, one of the things it says is that if you're made redundant, you won't be covered if you're paid in lieu of your notice. In my industry, both redundancy and being paid in lieu of your notice are pretty common. Had someone pointed out that item in the small print, I'd have known that the policy wasn't suitable for me. But surely it's my responsibility to check out the small print, isn't it?

Yes.

Without meaning to sound condescending, if you are capable of reading the policy fully now, you were capable when it was issued.

It's not that YOU won't be covered if you get PILON. It's that you can't claim until the notice period has expired. The thinking behind this is that if you are paid in lieu of notice then you are effectively still employed by and being paid by the company until your finish date. It's just they've chosen not to actually make you come to work. However, your employment does not end until the termination date. It's basically a type of gardening leave. For most, the contractual notice period is only a month or so.

Redundancy pay is a different kettle of fish as that is basically an ex gratis payment and however much you get doesn't change the date you become unemployed.