PPI Reclaiming Discussion Part 5

INSPIRED

I have dithered for much too long and must address PPI reclaiming. The problem is that there are so many PPI articles and threads to read on MSE and it makes my head spin.

Since 1996, I have kept all our financial records on Microsoft Money and therefore should be able to trace any PPI payments. However, apart for an Egg Loan, I can't find anything.

How can I tell if PPI had been charged on old credit cards if I no longer have the agreement forms and there are no charges on the statements?

Also, how would I know if PPI had been charged on mortgages?

Many thanks!

[Deleted User]

INSPIRED wrote: »

How can I tell if PPI had been charged on old credit cards if I no longer have the agreement forms and there are no charges on the statements?

PPI on credit cards is only charged on months when the account has a balance. If you have all statements and none show a PPI payment then you can't complain since you didn't pay it. Even if you had a PPI policy, you'll only ever be refunded if you actually paid any PPI.

INSPIRED wrote: »

how would I know if PPI had been charged on mortgages?

You can look at annual statements or ask your provider.

INSPIRED

Moneyineptitude wrote: »

PPI on credit cards is only charged on months when the account has a balance. If you have all statements and none show a PPI payment then you can't complain since you didn't pay it. Even if you had a PPI policy, you'll only ever be refunded if you actually paid any PPI.


You can look at annual statements or ask your provider.

Many thanks for the reply. Re credit cards, I seem to remember reading, somewhere, that the PPI was added to the interest charge each month. Therefore, it would not be evident on statements.

As for mortgages - yes, you are right. I should ask the providors as, nowhere, does PPI show on the annual statements.

-taff

INSPIRED wrote: »

Re credit cards, I seem to remember reading, somewhere, that the PPI was added to the interest charge each month. Therefore, it would not be evident on statements..

this is a lie put about by claims companies who want your business.

INSPIRED

-taff wrote: »

this is a lie put about by claims companies who want your business.

Oh .... okay. So if the PPI is not "hidden" in the monthly interest charge, how does it appear on the CC statements?

davy22

hi guys, sorry if this question has come up before but some advice would be greatly appreciated. around 6 weeks ago I received a letter from mnba stating that they had identified me as a customer who may have been miss sold ppi. they sent me a questionnaire to fill in about two weeks later, which I filled this in to the best of my recollection. I had opened a credit card account and 7days later they phoned me up and sold me ppi over the phone. the amount I would pay was based on my outstanding balance every month. guy was quite pushy from what I remember, but I had only opened the account and didn't want to rock the boat. mnba then wrote to say after looking into my response in the questionnaire that they believe no miss selling was apparent and that this was there final response. from what I know of these cases, that was always going to be their first reply anyway. I contacted the fos and after explaining all the details to the lady, she stated that my case was 50:50. she agreed to send out the forms for me to fill in. what I would like to ask is, what else can I add to my response to improve my chances. I can only recall so much of the process, but surely there are known patterns of miss selling that was widely used by the banks and there be things I am failing to mention. I believe trying to sell ppi over the phone in a 5 min conversation on reflection is miss selling. they must have believed that I had a case or why would they contact me other than required to do so by law. like I said I want to return the form with as must ammo as possible.
any help would be greatly appreciated.
thanks
davy

dunstonh

As for mortgages - yes, you are right. I should ask the providors as, nowhere, does PPI show on the annual statements.

Most MPPI is paid by direct debit from your current account. a small number of older ones may appear on the mortgage statement. The fact is it not built into the product is one of the reasons most MPPI complaints fail.

Many thanks for the reply. Re credit cards, I seem to remember reading, somewhere, that the PPI was added to the interest charge each month. Therefore, it would not be evident on statements.

No truth in that. Its a claim company myth to get people to sign up.

how does it appear on the CC statements?

Typically as an entry on the statement like any other purchase. You cant miss it. It is on there if you have it. If you think about it logically, how would your balance increase if there was no entry to increase it?

[Deleted User]

INSPIRED wrote: »

So if the PPI is not "hidden" in the monthly interest charge, how does it appear on the CC statements?

It appears on a separate line as "payment protection", if you don't have this (or similar) on your statements you didn't pay it.

dunstonh

around 6 weeks ago I received a letter from mnba stating that they had identified me as a customer who may have been miss sold ppi

That is not quite the letter meaning. These letters are known as CCLs. They are an invitation to complain if you think you were mis-sold. They give typical mis-sale reasons. The format was agreed with the regulator and it allows the companies to start the 3 year timebar clock.

about two weeks later, which I filled this in to the best of my recollection. I had opened a credit card account and 7days later they phoned me up and sold me ppi over the phone.

Most common way with credit cards.

guy was quite pushy from what I remember, but I had only opened the account and didn't want to rock the boat.

So, no indication of mis-sale there.

mnba then wrote to say after looking into my response in the questionnaire that they believe no miss selling was apparent and that this was there final response.

Based on what you have said alone, that response seems reasonable.

from what I know of these cases, that was always going to be their first reply anyway.

Not at all. The problem is your complaint reason is weak. Indeed, it is hard to see a complaint reason at all. It is an easy rejection.

I believe trying to sell ppi over the phone in a 5 min conversation on reflection is miss selling.

It isnt. An advised case would be as you cant have just 5 minutes but a non-advised sale is fine within 5 minutes.

they must have believed that I had a case or why would they contact me other than required to do so by law.

They are not required by law and they contacted you to start the timebar clock.

but surely there are known patterns of miss selling that was widely used by the banks and there be things I am failing to mention.

Just because some were done wrong does not mean all were. Each case it looked at on its own merits. In most cases, if the correct processes were followed then there wouldnt have been mis-sales. You are making an allegation of wrong doing. So, what evidence do you have to support that wrongdoing? If there is no evidence of wrongdoing and you are eligible for cover then you would expect to be rejected on complaint.

So, look at this again. a) what are your reasons for complaint? b) what evidence do you have or could obtain to support that reason?

If its a factual complaint reason (one that can be evidence if required) then these are strong complaint reasons. If its just an allegation of a conversation with no evidence then these mostly fail unless there is another reason they get upheld.

Lurchi0

hello all

First time poster but I've had some success thanks to this forum taking HSBC for unfair overdraft charges in 2007 and recently halifax for mortgage ppi receiving a generous payout.

I've also just submitted a complaint with HSBC for two loans, one pre 2000 that was cleared with another 2004-2011 that i know had ppi front loaded as the bank have admitted this over the phone.

Am i right in thinking the bank should have kept the records from the first loan on file with the latter one as they are tied together or will they have "disappeared" thanks to the 6 years ruling.

Only four weeks into the complaint and as yet they've come back with nothing but i'm trying to get an idea of how these things work.

I also have a loan secured on my mortgage with halifax for a relatively small amount that's been running since 2004. I plan on clearing this in January but was wondering if anybody had heard of cases of these been front loaded with ppi (separate to the mortgage ppi ive already claimed). I cant seem to find any information or cases similar. May there be a case?

many thanks in advance