PPI Reclaiming Discussion Part 5

Insider101

thedarkmucker wrote: »

Hi, I took a mortgage out in 2005 with Northern Rock (now Virgin). I was then arm twisted into having PPI with Cardif Pinnacle. I have recently read the T+Cs I have realised I would not be covered if I took ill due to an existing condition and that they also put the insurance on a a loan that I have out along side the mortgage, even though I didn't want it! I am wanting to claim against them, but dont know whether to go through Northern Rock/Virgin or Cardif Pinnacle themselves. Can anyone advise me on the best course of action. Thanks

You complain to the seller is Northern Rock.

It's not true that you wouldn't be covered if you became Ill. It's only if it is a recurrence of the previous condition that the claim wouldn't be covered.

amersall

Shas21 wrote: »

Sorry I am new to this and just want a bit of advice on reclaiming PPI. Not sure if this is the right Forum or not. (Newbe, so please be kind)

I had a credit card which is now cleared and account closed, but i have just come across a statement and it shows PPI premium on it. I didn't take out PPI ! I believe this was added to my account without my knowledge or authority.
I was made redudant in 2004, and didn't secure another job for approx. 6 months after being made redundant. However I ran into severe financial hard times and I advised the credit card company that I was made redundant but unfortunately my account ran into huge arrears which i simply could not afford to rectify (having 2 small dependants) and eventaully they transferred by account to debt collectors. The account has now been paid in full (maybe about 5-6 years ago)
I am thinking about sending a letter to the credit card company advising that i beleive that i have missold PPI. My reasons are as follows: (1) that i didnt take out PPI in the first place, i was never advised or given any information on it by the company ( i believe they went on ahead and added it) and (2) if i had PPI why did same not kick in when i was made redundant - one can only assume that i was not elegible therefore rendering PPI insurance useless to me and not fit to meet my needs.

Would anyone have any advice? or what i should put into my letter to the credit card company?

thank you in anticipation

Let them know that had you known about the PI when you were made redundant then you would have made a claim.
When you contacted them regarding your financial situation you would have thought that they would have mentioned the PPI and you should make the claim, sadly, they do not do this, it happened to my hubby.
As dunstonh said on your other thread " the PPI is on every monthly statement", you should have seen this before now.

amersall

Rules_13 wrote: »

I contacted a ppi company to help me with a claim , but they failed to find any. Further digging and phone calls I managed to get a positive outcome and they are paying out-12 months after the claims company gave up. As soon as I get the nod from my loan company I get an e-mail of and invoice of30%. - plus vat from my claims company , why is this when they failed???

Do you have anything in writing to say they "failed to find any"?.
If you do then contact them and tell them that as they did not find any PPI you continued the claim yourself and had a positive outcome.
They took the claim on and had they done the job you were to pay them for then you would pay the fee.

amersall

Leleyp wrote: »

Hi everyone, I'm completely new to these forums, so apologies for any daft questions etc that may appear. I've read the great advice that has been given to others and hope you can help me too!

I've already begun my PPI claim with CT Capital (was Central Capital) for a Paragon loan I took out back in 2007. It was settled in 2011. Initially they rejected my own complaints about how I was missold the PPI policy however stated in the letter that my complaint was being partially upheld due to them reviewing the entire sale and finding 1 failing "our lack of questioning in relation to any intention you may have had to settle the loan early, in particular during the PPI policy term". They needed a permission form to contact Paragon for information about any rebates which may have been paid, and we signed and sent it back. Last week we received their redress letter.

The redress offer is only for illustration, as when they contacted Paragon, it turns out that the policy is still running! I wasn't aware of this (luckily nothing has happened to my husband in the couple of years since paying the loan off!) However, they have said that if I write to Paragon to cancel the loan and then forward them evidence of this along with confirmation of the rebate Paragon send, they'll recalculate and send us the shortfall.

However, I also have a CD recording of the sales call which was made and where they have taken their evidence to reject my own claims. I'm awaiting CT Capital sending me the password so I can listen to it. If it's just the initial sales call which is on it (as I suspect), where would I stand with refusing their offer and taking it further? I am 100% certain that the man I spoke to on the phone - possibly about 5 or 6 phone calls into arranging the loan - when we were finalising details - he spoke about PPI. I stated that I wasn't keen on having theirs and that I'd rather arrange my own through the bank as it was much cheaper. He replied with something along the lines of Paragon being more likely to look at our application favourably if we took their PPI.

Now I know in the paperwork they sent and we signed, and what they've sent me copies of (and highlighted) it clearly states that we are not under any obligation to take their PPI, but after he had said that on the phone, there wasn't any way I was going to refuse it.

Do I have a leg to stand on with the Ombudsman or should I take their offer and run?

If I have read your post correctly, they are giving you the remaining PPI after the rebate that you paid back in the settlement figure.
This was Single Premium PPI and was in effect a loan on the loan to term end with interest, the total cost of this loan would not have been explained to you at the point of sale for you to make an informed decision, neither was the rebate system as they are going to repay you this, listen to the recording and if you are correct in what you say, let this be known to them also.

As the loan is repaid you should cancel the PPI and send them the info they require, copies not the originals, tell them you want a full uphold and for you to be put back in the position you would have been had the PPI not been taken.

Lurchi0

hello again

Received an offer from HSBC in the post this morning surprisingly quickly (four weeks from first contact). They've accepted ppi was miss sold on three loans but the amount offered was pitiful compared to what i (vaguely) calculated.

The loan i remember the most information about was for 7k over seven years running 2004-2011. The monthly repayments were £120 so i repaid in the region of £10,080. Unfortunately i cant remember the interest rate.

They've offered ppi premium redress of £228.30 plus taxable interest of £172.82

Am i way off the mark thinking i'm being fobbed off, i've rang them to ask to be forwarded all of the details of the accounts so i can try and do the math myself.

any advice?

dunstonh

Lurchi0 wrote: »

hello again

Received an offer from HSBC in the post this morning surprisingly quickly (four weeks from first contact). They've accepted ppi was miss sold on three loans but the amount offered was pitiful compared to what i (vaguely) calculated.

The loan i remember the most information about was for 7k over seven years running 2004-2011. The monthly repayments were £120 so i repaid in the region of £10,080. Unfortunately i cant remember the interest rate.

They've offered ppi premium redress of £228.30 plus taxable interest of £172.82

Am i way off the mark thinking i'm being fobbed off, i've rang them to ask to be forwarded all of the details of the accounts so i can try and do the math myself.

any advice?

Did you repay any of the loans early? if you did, then there would have been relatively pro-rata refunds in the PPI as part of the settlement figures. So, you would only get the difference

karris43

I have had two ongoing claims for PPI both of which I have sent to the Ombudsman. One of them was provisionally upheld but has now been challenged and I am waiting for someone at the Ombudsman office to make a final decision.

I got a letter this week the say that he other one (HFC Marbles Card) has been upheld and they have been asked by the Ombudsman offer me compensation on my PPI insurance complaint to put me in the position I would be in if I hadn't taken out the PPI.

They say that HFC will have to look at my circumstances and it might take 'around 8 weeks'.

My question is, is this the definitive result? Will HFC act on what the Ombudsman says or am I likely to have a struggle getting the offer of compensation and any subsequent payment from them?

Lurchi0

dunstonh wrote: »

Did you repay any of the loans early? if you did, then there would have been relatively pro-rata refunds in the PPI as part of the settlement figures. So, you would only get the difference

Yes I paid the 2nd loan off early with the loan I gave the figures for. The 7k ran its full term.


The offer figures I gave we're only for the 7k loan. I expected somewhere between £1200 and £1600 just for that one compared on other successes both myself and friends have had.


Am I just being greedy or being ripped off?


Many thanks for the reply

dunstonh

The offer figures I gave we're only for the 7k loan. I expected somewhere between £1200 and £1600 just for that one compared on other successes both myself and friends have had.

Were the loans paid off early on the other ones and your friends ones?

-taff

Lurchi0 wrote: »

I expected somewhere between £1200 and £1600 just for that one compared on other successes both myself and friends have had.

It doesn't matter what your friends had, it matters what your situation is.
If you paid it of early, you'll get les, because if your complaint is upheld, you'll only get what you actually paid.