PPI Reclaiming Discussion Part 5

-taff

How does someone you dont know have access to your financial records?

He was lying. If you want to do it yourself, read this, you'll need the closed account method
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

dunstonh

I received a cold call from a ppi firm yesterday and I gave them some details about a few old loans / credit cards that I had. No account numbers, values etc - just the names of a few lenders that I could remember off the top of my head. The company has left a voicemail on my phone today quoting some figures that I may be due back in PPI so I thought it might be worth me looking into doing this myself as I'm very wary of getting ripped off etc.

You gave out personal data over the phone to a cold caller and yet you say you are wary of getting ripped off? You need to take more care in future. Anyway, they are talking BS. What you told them would not be enough for them to find anything. Its just a sales response to get you to sign up with them.

the guy I spoke to said that 'the costs could have been hidden so I may not have realised that I was being charged'.

That is a common dodgy claims company sales line. It is never hidden. For example, on credit cards, it would have appeared on each statement it was paid. With loans, it would have been on the agreement. in reality, a significant minority dont read their statements or read the documentation and its more a case of it being present but not being seen.

It also seems a bit dodgy that they've estimated how much I could be due back in less than a day.

Exactly. With your data not available in the public domain, they have no way of knowing if you paid a penny or whatever figure. it is just made up to encourage you to sign up with them.

I've had loads of credit cards over the years but most have been interest free balance trf offers and I really can't remember what cards I've had and when I'd have taken them out. I definitely know that if PPI insurance was separately identified as a monthly cost on a credit card statement I'd have cancelled it straight away.

PPI is only paid when you borrow money on the card outside of the interest free period (so if repaid in full, there would be no PPI). If it was paid, then it would be an entry on the statement increasing the balance. So, if you read your statements you would have seen it. If you dont read your statements you could easily miss it.

[Deleted User]

andyad wrote: »

they charge an upfront fee

Money you'd likely never get back, regardless of the outcome of your complaint.

jennmark

hi, ive just recently remortgaged and in the process was digging through all the paperwork. I noticed on the paperwork relating to my life insurance that the premium includes a waiver of payment which means they will cover our payments if either one of us is incapacitated and unable to work. is this standard on life insurance policies? I don't recall discussing this when setting up the insurance but it was 8 years ago now and we arranged the insurance through our mortgage advisor rather than direct with the insurer. I do remember we initially opted for critical illness and unemployment cover but before the fist premium was paid we decided to cancel that and just go with the basic life cover.
is this ppi? I am just looking into investigating my ppi status, previously I had never considered it as we had actively declined ppi each time it was offered when taking out loans etc, however my husband has just received a letter from Halifax stating he had ppi on a previous loan which we were completely unaware of (I appreciate this information would have been in the paperwork he signed but all his Halifax loans were arranged in branch with a personal banker so the paperwork was signed immediately after discussing the product and as we never agreed to ppi we assumed the paperwork did not include it - note to self, always read all the paperwork!)
anyway sorry for the ramble but is this thing on my life insurance ppi, is it worth trying to reclaim or is it something I should/need to have?
any advice appreciated

dunstonh

I noticed on the paperwork relating to my life insurance that the premium includes a waiver of payment which means they will cover our payments if either one of us is incapacitated and unable to work.

Before we start, waiver of premium is not PPI.

is this standard on life insurance policies?

it is one of the two main add ons that are available on most plans.

I don't recall discussing this when setting up the insurance but it was 8 years ago now and we arranged the insurance through our mortgage advisor rather than direct with the insurer.

it is considered best advice to have it where it is available. it doesnt overlap with any other benfits and is medically underwritten at point of sale so lots of common sense to have it. Plus, its usually dirt cheap. (often just pence on the premium). So, having it on an advised case makes perfect sense.

is this ppi?

no

jennmark

Thats great thanks for such a speedy answer!

gyinnit

Years ago....about 10 years I think! I had an Egg loan and an Egg credit card. I found out who to contact using the PPI guide on MSE and after a month I get a cheque through the post for £600! Lovely holiday spending money!

livingstonc

Hi, I apologise if this is not the right forum.

My mum-in-law got a letter from Halifax a couple of months ago advising that might have a claim regarding PPI missold. My mum filled it out and then over the last week or so Halifax have called a number of times asking for a lot of information regarding employment history, type of death benefit at work,etc.

Halifax have said the PPI was taken out on a credit card and loan attached to it back in 2007 apparently and my mum has no recollection of taking out PPI or wanting it as we have also said to her never take any insurances out with the credit card companies.

My mum's most recent conversation with Halifax over the phone discussed what she would have been entitled to back in 2007 for various benefits etc if off work etc. However my mum said quite rightly I have no idea way back then and cannot get that type of information now.

They have now advised my mum that she not entitled to PPI? Any advice please as seems strange after them contacting her and then deciding no after being unable to provide some information which she could not get?

Thanks in advance.

[Deleted User]

livingstonc wrote: »

They have now advised my mum that she not entitled to PPI?

You seem totally confused as to what PPI actually is.

You are not "entitled" to PPI because PPI is just an acronym for Payment Protection Insurance.

You do not receive "PPI".

You mother purchased this insurance and her complaint that it was mis-sold has been rejected because she was unable to give the Bank any evidence that it was mis-sold.
Your Mother's complaint was basically that she didn't know she had it. Unfortunately, this is a very weak complaint because the PPI would have appeared on a separate line on every monthly statement she received.

livingstonc wrote: »

seems strange after them contacting her and then deciding no after being unable to provide some information which she could not get?

Not "strange" at all ,I'm afraid, they rang to give your Mother a chance to defend her complaint that the PPI was mis-sold. Clearly, she was not able to do this and the Bank have rejected the complaint.

If your Mother thinks that the Bank have treated her complaint unfairly then she has the right to refer the complaint to the Ombudsman. However, the Ombudsman will want to see the same evidence/ information your Mother was unable to provide and will take likely eighteen months to tell you the same.

Insider101

livingstonc wrote: »

Hi, I apologise if this is not the right forum.

My mum-in-law got a letter from Halifax a couple of months ago advising that might have a claim regarding PPI missold. My mum filled it out and then over the last week or so Halifax have called a number of times asking for a lot of information regarding employment history, type of death benefit at work,etc.

Halifax have said the PPI was taken out on a credit card and loan attached to it back in 2007 apparently and my mum has no recollection of taking out PPI or wanting it as we have also said to her never take any insurances out with the credit card companies.

My mum's most recent conversation with Halifax over the phone discussed what she would have been entitled to back in 2007 for various benefits etc if off work etc. However my mum said quite rightly I have no idea way back then and cannot get that type of information now.

They have now advised my mum that she not entitled to PPI? Any advice please as seems strange after them contacting her and then deciding no after being unable to provide some information which she could not get?

Thanks in advance.

Firstly, the letter itself means nothing. It is simply an invitation to complain which a lot of banks are sending to everyone who has had a policy. The purpose is that after three years they can time bar any potential complaint that hasn't already been made and close the book on the whole thing.

It's not clear whether you are saying your mum categorically did not ask for the cover or whether she just doesn't remember doing so. A lot of people can't remember what they have done several years ago, but this in itself is not reason for complaint.

Did the complaint they have rejected relate to the loan or the credit card or the loan? As credit card PPI appears on every monthly statement and loan PPI appears on the original agreement. Have they provided paperwork showing it? I assume you haven't any of the above paperwork not showing it?

They are obliged to consider all aspects of the sale when reviewing the complaint even if your mother didn't specifically raise them. Hence why they are asking what may appear irrelevant questions. However, they are entitled to assume that the policy was sold correctly unless there is something to indicate to the contrary. They have offered your mother the opportunity to provide something and she cannot answer the questions. The fact that she can't remember is fair enough but unfortunately as the complainant, the burden of proof is on her.