PPI Reclaiming Discussion Part 5

Oysterboy_2

Hi,
PPI noob here. I think I have a case and have just filled in the form to send to Lloyds.
When I got my loan I was fresh out of university and very naive. I had some rubbish sales job, which I would soon be quitting and moving away from the area. I told the bank this and the man said I should take out PPI because if I can't find a new job straight away it would cover my loan payments. I did find a new job and didn't attempt to claim.
I was having a difficult month financially so I went to the bank to ask for an extension on my overdraft. Instead I was pressure sold a top up loan with PPI. I told him why I'd taken it out originally and he said it wouldn't have covered me, it only pays if you're made redundant, but as I'd signed up for it with the original loan I had to continue with it. This was repeated a year later when I got another top up loan.
I finished paying off the loan a few years ago and have cleared my debts. It's only reading the stuff in the press now that I realise it was missold.
People might think I was stupid for taking it out but I was young, a bit intimidated by the slick salesman and genuinely thought that banks were there to give sound financial advice!! It wouldn't have occured to me that they might lie.
Fingers crossed that I can get it back. I could certainly do with it.

tracylouiseg

sugarpuss27 wrote: »

Thanks so much for that. Cannot find the T&C how can I obtain these from MBNA? Do you think it may be worth putting it to FOS?

If the account is still active you need to write to MBNA and ask for the T&C's for your account if you've not got them and you need to send a £1 cheque to cover their costs

(Scroll down for template letter on this page if not got documents - http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance?utm_source=forum&utm_medium=clicks&utm_campaign=resourcebar)




If the account is closed you need to send a SAR (Subject Acccess Request) letter to them and they have to return your info within 40 days - this requires a £10 covering cheque

(Template letter for SAR - https://forums.moneysavingexpert.com/discussion/1475553)



Their address is:

Customer Advocate Office
MBNA Europe Bank Limited
PO Box 1004
Chester Business Park
Chester
CH4 9WW

Oh and ALWAYS photocopy everything you are sending and ALWAYS send your letters by Recorded Delivery!!


One more tip.....put "cc Financial Ombudsman Service" on the bottom of your letters!!!

di3004

Oysterboy wrote: »

Hi,
PPI noob here. I think I have a case and have just filled in the form to send to Lloyds.
When I got my loan I was fresh out of university and very naive. I had some rubbish sales job, which I would soon be quitting and moving away from the area. I told the bank this and the man said I should take out PPI because if I can't find a new job straight away it would cover my loan payments. I did find a new job and didn't attempt to claim.
I was having a difficult month financially so I went to the bank to ask for an extension on my overdraft. Instead I was pressure sold a top up loan with PPI. I told him why I'd taken it out originally and he said it wouldn't have covered me, it only pays if you're made redundant, but as I'd signed up for it with the original loan I had to continue with it. This was repeated a year later when I got another top up loan.
I finished paying off the loan a few years ago and have cleared my debts. It's only reading the stuff in the press now that I realise it was missold.
People might think I was stupid for taking it out but I was young, a bit intimidated by the slick salesman and genuinely thought that banks were there to give sound financial advice!! It wouldn't have occured to me that they might lie.
Fingers crossed that I can get it back. I could certainly do with it.

Hi and welcome to this part of the forums.

I think you have good reasons here and you should be ok, fingers crossed, please keep us posted, cheers.;)

cappo

Oysterboy wrote: »

Hi,
PPI noob here. I think I have a case and have just filled in the form to send to Lloyds.
When I got my loan I was fresh out of university and very naive. I had some rubbish sales job, which I would soon be quitting and moving away from the area. I told the bank this and the man said I should take out PPI because if I can't find a new job straight away it would cover my loan payments. I did find a new job and didn't attempt to claim.
I was having a difficult month financially so I went to the bank to ask for an extension on my overdraft. Instead I was pressure sold a top up loan with PPI. I told him why I'd taken it out originally and he said it wouldn't have covered me, it only pays if you're made redundant, but as I'd signed up for it with the original loan I had to continue with it. This was repeated a year later when I got another top up loan.
I finished paying off the loan a few years ago and have cleared my debts. It's only reading the stuff in the press now that I realise it was missold.
People might think I was stupid for taking it out but I was young, a bit intimidated by the slick salesman and genuinely thought that banks were there to give sound financial advice!! It wouldn't have occured to me that they might lie.
Fingers crossed that I can get it back. I could certainly do with it.

As our Di says you've got very good reasons here, you have a good claim.

cazpanda

Hi, can you tell me who I would take my case up with please. The double glazing company I bought the product from or the finance company (GE) they used as they both say its the other. Also it was in 1998 & the glazing company say they no longer have records? Is it OK for them to not have them after this length of time? Thanks.

di3004

cazpanda wrote: »

Hi, can you tell me who I would take my case up with please. The double glazing company I bought the product from or the finance company (GE) they used as they both say its the other. Also it was in 1998 & the glazing company say they no longer have records? Is it OK for them to not have them after this length of time? Thanks.

Hi there

I believe it would be the double glazing company, if they set up the account etc, it is them that is liable.

I assume GE would be who taken the repayments from you?

The companies should hold records for at least the last 6 years, you can of course try contacting the Information Commissioners office about this one (ICO) because saying that, if you had double glazing from them you would have been given a guarantee of the windows as well, where in this case, they should therefore keep records on the purchase of the windows for guarantee reasons (in my opinion anyway) some are that of 10 years guarantee.

If you were still paying for the product in the last 10 years then, they should again hold at least some details (my opinion).

However, you can still try making a reclaim by giving them as many details you have as possible.

For ICO contact, it maybe worth also giving them a ring as well.
https://www.ico.gov.uk/Global/contact_us.aspx

Good luck.

[Deleted User]

di3004 wrote: »

if you had double glazing from them you would have been given a guarantee of the windows as well, where in this case, they should therefore keep records on the purchase of the windows for guarantee reasons (in my opinion anyway) some are that of 10 years guarantee.

Even if firms were required to keep records for guarantee purposes (they're not, I'm afraid), a ten year guarantee from 1998 would have expired in 2008.

joanne13

Hi

Does single premium and front loaded mean the same thing?

mill1980

Just recieved an offer for my prefernce account ppi :jv happy but on the letter they have refunded premiums of £878 plus 8% interest too 12th April at £155. There is no mention of refund of interest on the payment though?? on my loan from bank of scotland they gave me premiums plus interest plus the 8% interest. Anyone know why they haven't given it back on this? the perference account was basically a type of credit card i think.

cappo

joanne13 wrote: »

Hi

Does single premium and front loaded mean the same thing?[/QUOTE


Hi joanne normally, generally single premiums had the ppi element added to them so the whole payment was taken, loan repayment plus ppi rather than loan repayment and a separate payment for the ppi which would show as a separate payment coming out from your account on your bank statements.