PPI Reclaiming Discussion Part 5

[Deleted User]

digging4fish wrote: »

Letter put together and I just need to locate my Account Number?? Can I just ring them for this?

You can try but, after so long, I think you'll have to send the SAR letter.
If the SAR returns nothing, then your complaint is over before it's begun. There are no "agencies" who can magic up deleted/destroyed records.

Banks generally keep records going back six years..

digging4fish wrote: »

Lloyds were instructed by the government to repay any valid cases and provided with a 'pot fund' for this purpose.

All banks have put aside money to re-pay mis-sold PPI. This is not a government directive, however, and the money comes from the Bank.
They will only refund PPI that was actually paid. No record=no refund.

Andyjlee

Hi, new to the forums so hello everyone! :beer:

I was just wondering whether someone could give me some advice?

I sent Yorkshire Bank a PPI claim letter last year for 3 previous loans that I had with them. I received a letter back offering me £2800 for one of the loans. (2004 Which I have now received :j) The other 2 loans I was told they could not find any information for? But if I had any paperwork they would be happy to look in to. I originally left it at that, as I didn't have any paperwork for the other loans. After reading some forums on here I decided to send a SAR request in December 2013. I have now received the information back, this includes paperwork for one of the loans (2003, I didn't have PPI on it), and for the last loan they state there is no paperwork but have sent a screen print showing that I did have PPI on the last loan. (2000, strange they told me they didn't have any information) I have since sent this to the PPI claims department who have stated they cannot offer me money back as it is not enough information? They say they need to know interest charges etc... Is this true or do I have a case with the Financial Ombudsman?

Thanks for reading.

[Deleted User]

If you do not have the information they require (and they don't) then you are fighting a losing battle.
You can refer your complaint to FOS if this complaint is not simply a continuation of your original from a year ago.
You only had six months from the date the original complaint was rejected to refer it to the Ombudsman...

Insider101

CraigD wrote: »

"At that rate of repayment, you won't pay off the debt for 418 years!"

True but I have negotiated on the basis of it being a non-priority debt. If and when I gain employment I shall renegotiate preferably with a Collections company if the debt is sold on however with the rising costs of living I am treating it as a non-priority debt. Am I being disingenuous in thinking that the money I paid for PPI has been handed to me with one hand and then taken away with the other hand? I ufully understand that the Co-op Bank as a business have every right to demand repayment but only on the basis of having the means to repay. The PPI repayment amount hardly makes a dent in the debt so it seems like I am being unfairly discriminated against for not having the means to repay it and the bank are clawing back what little they can by any means necessary.

You're exactly right they are. Wouldn't you? It's not a case of unfairly discriminating, you agreed to repay them, signed a legally binding document to that effect and have not kept the agreement. You can't expect them not to want the money back. I would wager that under the terms of the agreement they have the right to demand repayment at any time. your ability to pay doesnt come into it.

I'm surprised they've offered to repay it to you at all in this instance as they do have the right to set off.

Correspondent1

Platform Home Loans PPI


Hi, I am also new to the forum and have a question to the floor in respect of a PPI reclaim from Platform Home Loans.


Just after Christmas, I received a phone call out of the blue from the broker who arranged my mortgage with Platform in 2001. The call was basically to tip me off that despite the fact that I didn't ask for it, there was a strong possibility that PPI had been added to my LIBOR based mortgage.


The broker was clearly fishing for business as they asked me if I wanted them to check however having already successfully reclaimed from another lender, I said no thanks and that I would do it myself.


I duly filled in and sent off the Ombudsman's form however, as the mortgage was with Platform from 2001-05, I had what I learned was their standard cop out reply telling me that they had destroyed the paperwork after 6 years so basically, tough..


Luckily for me, I had the complete set of mortgage statements for the whole period which I sent to Platform to look at however I have just had their reply reiterating that as they had destroyed their papers, they are still unable to help unless I can supply details of the PPI policy. I have 2 questions:-


1). In the only other case where I knowingly had PPI, there was no separate policy. The premium was simply included in the overall monthly payment figure so does anyone have experience of Platform PPI and whether this was a completely separate item and shown as such..?


2). Having supplied them with the information that they claimed to have destroyed, I understood that it is now their responsibility to tell me whether I had PPI or not. Is this correct..?


I remember what they were like when I was with them and having a few money problems (which was extremely unpleasant) so, if there is any possibility of their having stung me for unwanted PPI, I would relish getting this back so any help would be greatly appreciated.


Many thanks

Insider101

digging4fish wrote: »

Hi,

Many thanks for that, it's worth a shot. From what I gather, Lloyds were instructed by the government to repay any valid cases and provided with a 'pot fund' for this purpose. Letter put together and I just need to locate my Account Number?? Can I just ring them for this?

I had a huge fallout with them about the way they were making changes that were non-negotiable in a bid to extract money from their customers for services they didn't require and ceased banking with them.

If I draw a blank there would an agency be able to dig up more? or is that the end of the line and I will just have to cut my losses?

If they've not got it they've not got it. That won't change no matter who sends the request.

It's not a government thing, it is a general expectation of the FCA that any valid complaints will be dealt with appropriately. However, it goes without saying that what is a valid complaint is a very subjective issue.

_laughteristhekey

Hi Guys,

Im really annoyed... I was sold PPI without knowing it on my car finance agreement. Vauxhall were the ones who sold me the PPI but Santander were the ones the policy was with? I contacted Santander who replied with "the sale of the policy was conducted by the motor dealer from whom you bought your vehicle, it was their responsibility to ensure the sale was handled correctly, therefore the issue should be raised with them".

So I contacted vauxhall (GMAC) who replied with "We cannot locate a vehicle finance agreement with ourselves. We note the finance was provided by Santander and your vehicle sold by Vauxhall, we can only assume we recieved your letter in error."

WHAT???

Does anyone have any idea what I should do now?

Thanks

Insider101

_laughteristhekey wrote: »

Hi Guys,

Im really annoyed... I was sold PPI without knowing it on my car finance agreement. Vauxhall were the ones who sold me the PPI but Santander were the ones the policy was with? I contacted Santander who replied with "the sale of the policy was conducted by the motor dealer from whom you bought your vehicle, it was their responsibility to ensure the sale was handled correctly, therefore the issue should be raised with them".

So I contacted vauxhall (GMAC) who replied with "We cannot locate a vehicle finance agreement with ourselves. We note the finance was provided by Santander and your vehicle sold by Vauxhall, we can only assume we recieved your letter in error."

WHAT???

Does anyone have any idea what I should do now?

Thanks

Write back and say something along the lines of "thank you for your fob off letter. I am fully aware that the finance was with Santander, however, the car and the PPI policy were sold by Vauxhall. As you sold the policy you have the responsibility to investigate my complaint of misselling".

GMAC are Vauxhall's "official" finance company and therefore I would wager it has been forwarded to then in error when it needs to be dealt with by Vauxhall themselves.

dunstonh

Just after Christmas, I received a phone call out of the blue from the broker who arranged my mortgage with Platform in 2001. The call was basically to tip me off that despite the fact that I didn't ask for it, there was a strong possibility that PPI had been added to my LIBOR based mortgage.

This sounds bogus
1 - LIBOR has nothing to do with it
2 - if he was your broker then it the broker you complain to
3 - Most brokers did not become regulated until Jan 2005

1). In the only other case where I knowingly had PPI, there was no separate policy. The premium was simply included in the overall monthly payment figure so does anyone have experience of Platform PPI and whether this was a completely separate item and shown as such..?

The vast majority of MPPI is standalone (typically direct debit). However, some bad ones were put in place by bad brokers that were single premium and added to the mortgage as an extra amount borrowed. It couldnt be hidden as you borrowed more and you would have had a standalone policy.

2). Having supplied them with the information that they claimed to have destroyed, I understood that it is now their responsibility to tell me whether I had PPI or not. Is this correct..?

No. Indeed, most lenders will not know what insurances a broker has arranged.

Correspondent1

Dunstonh, thanks for the reply but I need to clarify further:-

Forget the broker, they did nothing other than introduce me to Platform. As a non life broker, I am used to doing the paperwork and did virtually all the running around direct from that point on (but of course, they still took their pound of flesh). Also, I only mentioned LIBOR to clarify the mortgage type and not in relation to the PPI

Platform had their own PPI option, it was in the application pack and I ticked the box to say that I didn't want it but it would seem that whilst I am sure you do things completely correctly, not all loan companies are as scrupulous, especially some of the sub primes (which Platform was/is).

Several of my colleagues have recently recovered significant sums from prime lenders (mostly credit cards) where PPI had been added AND HIDDEN despite having been refused and I have anecdotal evidence from more than one source to say that this was common practice by Platform which is almost certainly why they probably did a little dance when they could dispose of their records after 6 years.

So, in summary, the broker was basically not involved. Platform offered me the PPI and despite my refusal, I believe that they charged me for it and hid this in the payments so, based solely on this premise, I need to know if they are obliged to tell me.

TIA...

p.s. just for info, the loan I had with no separate PPI payments was arranged with Citibank, no broker was involved