PPI Reclaiming Discussion Part 5

Insider101

MontysMum22 wrote: »

Hi, my back ground story is that I am looking into several credit cards with PPI on them that I never took out the policy for and hadn't realised was on there. I still owe a fair balance on some of them and am still likely to even if I win cases against them and the proceeds get put towards the debt. As I am in a voluntary debt management scheme I am paying the balance off at an agreed amount each week at 0% interest. My question is could thecompanies concerned get nasty after a successful claim and withdraw the 0% interest rate just to spite me!

Also a company that persues claims for you at a fee told me recently that the government would soon be shutting this down soon, ie the right to claim for miss sold PPI and so there was an urgency to claim through them as I would never be able to do it in the time limit by myself. Presume that this was said just to make me sign up with them but is there any truth that time is running out to be able to claim?

They will not do this. Credit card providers do not engage in joined up thinking. Their complaints deparent will not be in touch with their credit control department to tell then you've made a complaint and even if they did they could not allow it to impact the way they handle your debts as the FCA would not consider it to be treating you fairly.

As regards what the CMC have said it is quite frankly nonsense. There have been discussions between banks and the FCA about potentially setting a deadline. However, the talks are not currently ongoing and the FCA has said that the banks have so far failed to present any convincing case for it. Plus complaining through them would actually take longer just due to your complaint having to be put in the post twice. They have no more clout than you do and cannot make the bank consider your complaint any quicker.

bracken68

Hi apologies if a similar question has been raised previously. I recently was successful in reclaiming PPI from my bank re several bank loans I had had with them over the years. I currently have a loan outstanding from the same lender, that due to financial difficulties, I am currently repaying via an arrangement with a credit management company (I was also recently made redundant). My question is am I obliged to pay off the balance of the outstanding loan, or am I able to continue paying off the monthly figure to the credit management company? I ask this as I don't know how long I might be unemployed for so think it might be more sensible to hang onto the PPI for now.

-taff

If you were successful in complaining about the sale of ppi, they may have taken that loan into account as well [or they should have done] so check to see if PPI is still included in it.

filbertstreet

ok so im a bit new to all this but id like some advice

recently i have had a bit of a clear out of paperwork etc and found two older credit card details one from 2007 marbles hbc bank and one barclaycard both with ppi on them now im not 100% how i took these out whether on line or over the phone

ive always been employed so never had to claim on a policy

either way is my best reason the fact that both companys have been fined & that the policy wasnt suitable for me ??

bracken68

Sorry, what I meant to say was, am I ok to hang onto the PPI refund/compensation (I no longer have PPI being applied to this loan) instead of paying the loan off with the refund/comp?

DevCoder

filbertstreet wrote: »

ok so im a bit new to all this but id like some advice

recently i have had a bit of a clear out of paperwork etc and found two older credit card details one from 2007 marbles hbc bank and one barclaycard both with ppi on them now im not 100% how i took these out whether on line or over the phone

ive always been employed so never had to claim on a policy

either way is my best reason the fact that both companys have been fined & that the policy wasnt suitable for me ??

The fact you haven't had to claim because you've kept employment is a good thing and is not a valid compliant.

The fact the companies have been "fined" isn't relevant to your individual case.

amersall

bracken68 wrote: »

Sorry, what I meant to say was, am I ok to hang onto the PPI refund/compensation (I no longer have PPI being applied to this loan) instead of paying the loan off with the refund/comp?

If the refund came direct to you then just keep paying the loan as you are.

bracken68

amersall wrote: »

If the refund came direct to you then just keep paying the loan as you are.

Thanks amersall, just wanted to make sure I wasn't going to get myself into any hot water!

Regent29

Hi all. I'm a guy of mid 60's & new to forums & blogging so I hope I'm using the correct online protocol in my blog.
I was nudged lately by seeing Martin Lewis on TV regarding PPI on Credit Cards & yesterday I laid all my past CC receipts going back to 2005 [I try to keep roughly to the 7 year rule] & was amazed at how many cards had PPI on them as either PPI or other wording for it.I hope whoever is out there can help me on a few questions that I'd be really helpful for your assistance.


[1] Is there a template letter out there specifically for claiming back PPI on CC.?
[2] I have receipts of Citi Card that morphed into Opus around the end of 2012. Do I claim Citi Card from Opus when claiming from Opus ?[We're talking big PPI amounts from approx' £50 to £120'ish per month]
[3]I had a "Monument" card that I'm unsure if they are still going ?
[4] I have an M&S card that pre-dates 2005 to the present, so I can't show evidence of receipts pre 2005, is that a factor.?
[5] I have an MBNA that shows PPI only once in 2007 & once in 2011????.....could it PPI be buried in some other charges elsewhere on the statement ?


Many thanks

[Deleted User]

Regent29 wrote: »

I was hoping that you might be able to help to direct me to any of Martin Lewis's articles specific to my questions below that I blogged earlier

This is a discussion forum, not a "Blog".

Credit Card PPI advice article is here;
http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance

The link above should answer all your questions and provides template letters as well.

Taking time to explore this site will be far more rewarding (and far quicker) than demanding that others lead you by the nose!:)

Regent29 wrote: »

I have an MBNA that shows PPI only once in 2007 & once in 2011????.....could it PPI be buried in some other charges elsewhere on the statement ?

No, credit card PPI is only paid in months when your card has a balance. It is not "hidden" in the interest. If it doesn't appear on a specific statement then you didn't pay it.