PPI Reclaiming Discussion Part 5

-taff

Panthercollection wrote: »

Just thought I'd give a little update.

Spoke to natwest who have basically said that because my loan was consolidated the PPI was only on the first loan but stopped on all subsequent loans hence the low price. I'm happy with that as it makes sense.

Should I just accept the offer or should I fight it further.

Which i what I suggested previously. You'll only get back what you actually paid, hence this offer.

Panthercollection

-taff wrote: »

Which i what I suggested previously. You'll only get back what you actually paid, hence this offer.

I realise that. I think the point I was trying to get across was can they lie or should I trust them? I am happy with that payment as it's better than nothing and I have no proof what I paid. :-)

[Deleted User]

Panthercollection wrote: »

can they lie or should I trust them?

Unless you have evidence that you paid more (which you clearly don't), you have no choice than to "trust" what their records show you paid.

Panthercollection

Happy bunny then. :-) thank you for your help I shall sign the papers and get my money back. Trying to save for a mortgage so I'm off to another part of the site for help on credit scores etc.
thanks to MSE I got my PPI back without paying some company 30%.

BENBO

New to this site so please bear with me. I'm sure these questions have been asked before but I can't find them. I have a Lloyds card taken out in the 70's. I was self employed then and ever since but with periods when I was employed as well.
1) How far back can a PPI claim go?
2) Would the bank automatically go back as far as poss or is that something I would have to chase?
3) Do periods of employment break up the claim?
4) If I were to be offered a refund is it possible to check it's accurate? The amount of PPI paid varies each month and I only have a few years statements.
I'm sure you are all fed up with idiots repeating things but any advice would be very welcome

WatchMan

BENBO wrote: »

New to this site so please bear with me. I'm sure these questions have been asked before but I can't find them. I have a Lloyds card taken out in the 70's. I was self employed then and ever since but with periods when I was employed as well.
1) How far back can a PPI claim go?
2) Would the bank automatically go back as far as poss or is that something I would have to chase?
3) Do periods of employment break up the claim?
4) If I were to be offered a refund is it possible to check it's accurate? The amount of PPI paid varies each month and I only have a few years statements.
I'm sure you are all fed up with idiots repeating things but any advice would be very welcome

1) Generally speaking, all the way back. In a mis-sale complaint, you would be complaining about that day, way back, when you took the policy out.

There are potential issues though - the most important in your case being the fact that some records may not be held by the business. If the account is still alive they should have something though.

2) Yes. When you complain about the policy sold alongside your card in 19XX (whenever you took it out) that is what the business have to investigate.

3) No. The important thing is your circumstances at the time of sale. If you were self employed at the date of sale, it does not matter that you became employed at some point afterwards. Be aware that some, but not many, policies did provide fair cover to self employed people.

4) Depends on what records you and the business have. If you do not have any, you will probably have to take the businesses' word for it.

BENBO

Watchman. Many thanks for taking the time to reply and very useful.It's good to know there are still people around who want to help. The card is still active and is a standard Lloyds mastercard but I have no idea what the original terms were. Do Lloyds cards follow a set format normally or would I need to get a copy of my contract to find out? Thanks again.

dunstonh

BENBO wrote: »

Watchman. Many thanks for taking the time to reply and very useful.It's good to know there are still people around who want to help. The card is still active and is a standard Lloyds mastercard but I have no idea what the original terms were. Do Lloyds cards follow a set format normally or would I need to get a copy of my contract to find out? Thanks again.[/QUOTE

You dont need your agreement with a credit card. That is just an internet myth.

3) Do periods of employment break up the claim?

The complaint is about the sale. Only the things at point of sale matter. Things that happened later cannot be complained about as being mis-sold at point of sale.

4) If I were to be offered a refund is it possible to check it's accurate? The amount of PPI paid varies each month and I only have a few years statements.

As you dont have the statements, you have no way of verifying it is accurate. A lot of the card providers also destroy statements over time as well. So, it is not uncommon to see redress payments based on only what can be seen to be paid.

I have a Lloyds card taken out in the 70's. I was self employed then and ever since but with periods when I was employed as well.

It is unlikely you have PPi in the 70s as it didnt exist back then. This also mens that the PPi would not have been sold at the time of the card (and not have been on the credit agreement). The point of sale is when the PPi was sold. Not the card.

BENBO

Dunstonh thanks for that. I had heard before that ppi wasn't around in the 70's. I've certainly been paying it as long as I can remember ( which these days means since yesterday) and there have been no breaks in the card. Could it simply have been added at some point and would this make any difference?

-taff

It would probably have been added via a phonecall with a replacement card.