PPI Reclaiming Discussion Part 5

Krwatts

Hi guys, I need your help.
We have just successfully reclaimed some money on my partners PPI which he had been paying for on an Egg card. On this letter it states we have been reimbursed for 'refunds of payments made by you to PPI policy', 'Refund of interest charged on PPI premiums', '8% interest as statutory compensation', 'Refund of default charges and interest'.
When he had this card, he was made redundant for 18months and couldn't make the payments on this card and therefore defaulted on it, this is still n his credit record today. I am wondering, should we also try to claim for payments that the PPI company should have been paying out for him for his monthly credit card payments? Or do you think this has been included in the above?
I would appreciate any help you can give!
Many thanks,
Kirsty

[Deleted User]

Krwatts wrote: »

. I am wondering, should we also try to claim for payments that the PPI company should have been paying out for him for his monthly credit card payments?

Redress is defined as a full refund of PPI paid, plus attendant interest, plus 8% simple interest.
You cannot "claim" for any more than that.

Insider101

Krwatts wrote: »

Hi guys, I need your help.
We have just successfully reclaimed some money on my partners PPI which he had been paying for on an Egg card. On this letter it states we have been reimbursed for 'refunds of payments made by you to PPI policy', 'Refund of interest charged on PPI premiums', '8% interest as statutory compensation', 'Refund of default charges and interest'.
When he had this card, he was made redundant for 18months and couldn't make the payments on this card and therefore defaulted on it, this is still n his credit record today. I am wondering, should we also try to claim for payments that the PPI company should have been paying out for him for his monthly credit card payments? Or do you think this has been included in the above?
I would appreciate any help you can give!
Many thanks,
Kirsty

What were your reasons for complaining?

If your husband has proof of his involuntary unemployment then you can ask them to consider paying what would have been paid out had the claim been met. However, you can't do this AND ask for the money back as though you'd never had the policy - it's one or the other. They are also under no obligation to agree to this. Even if they do, most PPI only pays 12 months unemployment so it might well be less than the refund offer.

Insider101

Correspondent1 wrote:

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.

I don't know about Platform but this bit is nonsense. It is not possible to hide PPI on your credits card. If the PPi didn't appear on the statement then the statements would not add up correctly. Which would be obvious a mile off to anyone who can add up!!'

-taff

Correspondent1 wrote: »

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.

It's rubbish that PPI is hidden. That's a claim put about by claims companies who want your business by playing on your greed.
On credit cards with an outstanding balance and PPI, it will show on EVERY SINGLE STATEMENT.

You have also misunderstood the 6 year time limit...A company is obliged to keep your info as long as necessary, or as long as required by law, which is not necessarily 6 years, this is just the time recommended by the FSA.

Mr_Benn

Good evening all.

Having pondered for a while I thought it was about time I dipped my toe in the shark infested PPI waters !

I guess Im like many people, so hope this will be a good thread to help others as well as me.

I think I may have had some sort of protection on loans I had about 20 years ago. One was on my first mortgage with the a still existing Building Society.
The second was a loan I took out to buy a car from a Rover dealership (yes its that long ago !) . It was taken out at the dealership, but I cant remember the exact name of the company.
I dont have any specif paperwork from either deal showing any details of the loans unfortunately.

Because they are both so long ago, is that the end of the story already ?

If not, how do I start my quest !?
I have tried searching the web and on here, but its almost like information overload !!

Thanks in advance for any starting advice.

Correspondent1

-taff wrote: »

It's rubbish that PPI is hidden. That's a claim put about by claims companies who want your business by playing on your greed.
On credit cards with an outstanding balance and PPI, it will show on EVERY SINGLE STATEMENT.

You have also misunderstood the 6 year time limit...A company is obliged to keep your info as long as necessary, or as long as required by law, which is not necessarily 6 years, this is just the time recommended by the FSA.

I joined this site to get a bit of advice but it seems that this board is policed by several individuals who offer definitive and mostly derisory comment to people seeking information.

Don't get me wrong, I have no issue with disabusing people of misconceived notions however the bedside manner definitely requires a severe overhaul.

To answer the post, I am not an idiot and have neither misunderstood the time limit or been told ANYTHING by a PPI claim compny as I won't use them.

What I said originally was that Platform claimed that they were unable to assist as "in line with recommended data protection best practice, after 6 years, our mortgage files are destroyed" Like I said, with good reason on their part as it is their get out clause to avoid paying back massive sums.

Also, I checked with my colleague today and her circumstances are:

1). She took out a credit with HSBC
2). She declined PPI
3). NO PPI PAYMENTS APPEARED ON HER STATEMENTS
4). When she asked them years later if she had it, they said yes and paid her back with no quibble.

This is not made up, this comes from a person who is so savvy with her money that it would put most of the advisors on here to shame. The fact is that PPI was added and hidden in the APR and not by a tin pot sub prime market but by a front line, leading lender so it is my turn to disabuse you of your notion I am afraid.

Now, if someone could answer my Q about whether it is Platform's responsibilty when presented with my mortgage statements to tell me if I had PPI , I will take my leave.

TIA...

kazreen

Hi,

I made a claim for ppi through a 3rd party company. They hadn't contacted me for 18 months so i went direct to the Building society to claim. I've contacted the 3rd party company to cancel my claim but have been advised i can't as they have contacted the ombudsman on my behalf and to cancel my claim through them and go direct to my Building Society is cancelling my claim altogether, is this correct?
(I'm still awaiting a response from the ombudsman)

[Deleted User]

Correspondent1 wrote: »

NO PPI PAYMENTS APPEARED ON HER STATEMENTS

So she didn't pay any.
If the Bank refunded her any money, then it must have been on statements she no longer has in her possession.

PPI is not hidden, this is a myth fostered by Claims Companies who just want people who can't remember they have PPI to sign up with them

It doesn't matter whether you personally are using a CMC, your belief that credit card PPI can be hidden is mistaken.

Correspondent1

Correspondent1 wrote: »

INow, if someone could answer my Q about whether it is Platform's responsibilty when presented with my mortgage statements to tell me if I had PPI , I will take my leave
TIA...

Anyone.... please.