PPI Reclaiming Discussion Part 5

Oxenzb1979

Hi guys, myself and my husband have had serveral loans, credit card over the years at different times and have no paperwork or memory of who they were with, if I was made aware of ppi I always said no as I'm a tight !!!.... BUT what about the ones we didn't know about??? Is their a place you can go and get all your financial info from and then get them to check if we paid it and if we can claim it back.....

My bank provider said that they can only help if its a loan with them, which it was not.... I'm not 100% trusting in these claims people that cold call either....

Advice and feedback would be appreciated x x x

[Deleted User]

Oxenzb1979 wrote: »

. BUT what about the ones we didn't know about???

PPI is not hidden. If you always refused it, the likelihood is that you never had it at all. In answer to your other question, there is no database of PPI or "place" you can go to get all financial info.

You could write speculative letters to all your old financial providers, this would cost £10 for each.

squirrel23

Had a response from the FOS stating that I will not be getting PPI back from my two HSBC credit cards. Extremely frustrated as have all the evidence you possibly can, i.e statements from each address!
where did I go wrong ? and is the anything I can do now please ?

[Deleted User]

squirrel23 wrote: »

have all the evidence you possibly can, i.e statements from each address!

Statements are only evidence that you paid PPI, they are not evidence of any wrong-doing by the Bank.

In order for it to be refunded, the insurance must have been mis-sold to you. Why did the bank reject your complaint?

dunstonh

squirrel23 wrote: »

Had a response from the FOS stating that I will not be getting PPI back from my two HSBC credit cards. Extremely frustrated as have all the evidence you possibly can, i.e statements from each address!
where did I go wrong ? and is the anything I can do now please ?

A statement showing PPI is evidence only of payment. it is not evidence of any wrongdoing. There is nothing wrong with having PPI.

What were your complaint reasons and why were those rejected?

[Deleted User]

Help!!...I have had two offers on historic loan ppi's...one from 1994 for 4 years ppi paid monthly and the other from 2000 for 4 years premiums for ppi paid monthly...

Offer 1 1994 for 4 years
refund of premium 192.00
8% interest 279.82

Offer 2 2000 for 4 years
refund of premium 351.36
8% interest 358.18

My question is...do these look correct?....and should there not have been Compound Interest ..the bank say not that they only pay CI on CreditCard and Overdraft PPI....

Thanks In Advance...

Paul

Nasqueron

As per answers at

https://forums.moneysavingexpert.com/discussion/5095252

The PPI redress scheme only demands Simple not Compound interest. If you don't have any records than accept the money, you were very lucky to get anything from a debt from 20 years ago!

Insider101

celticexplorer wrote: »

Help!!...I have had two offers on historic loan ppi's...one from 1994 for 4 years ppi paid monthly and the other from 2000 for 4 years premiums for ppi paid monthly...

Offer 1 1994 for 4 years
refund of premium 192.00
8% interest 279.82

Offer 2 2000 for 4 years
refund of premium 351.36
8% interest 358.18

My question is...do these look correct?....and should there not have been Compound Interest ..the bank say not that they only pay CI on CreditCard and Overdraft PPI....

Thanks In Advance...

Paul

This is correct. Those types of products charge compound interest, hence it needs to be repaid. Single premium loans don't.

Insider101

squirrel23 wrote: »

Had a response from the FOS stating that I will not be getting PPI back from my two HSBC credit cards. Extremely frustrated as have all the evidence you possibly can, i.e statements from each address!
where did I go wrong ? and is the anything I can do now please ?

Statements are only evidence that you paid PPI. Nothing else. GThis is only significant if HSBC have no records of your policy.

You can ask for an Ombudsman to review your case, but they only disagree with adjudicators in 11% of cases.


What were your complaint reasons, what were their reasons for rejection and do you have any evidence that would support your case and not theirs?

Harry_Dunne

I've never posted here before, but wanted to share my experience with you and hopefully spur people on to claim any PPI that they may be due.

I've been having calls regarding reclaiming PPI for ages, but because I'm not the type of person to take out PPI, extended warranties, etc, I've never pursued a claim. As I've had a number of credit cards and loans over the years, and I'm very bad at keep documentation, I gave into one of the reclaim agencies and they sent through loads of paperwork for me to sign and hand over 30% of any recovered money. Just before I was going to sign them I thought "Why don't I try reclaiming myself?"

As I mentioned, I had no documentation, no account numbers, no nothing! I went on Barclays online claim website and filled in any information that I could, which wasn't much. They wrote to me a few weeks later saying that the PPI that I was sold was fair and that my claim was rejected. It was news to me that they had ever sold me PPI, so I wrote to them and told them that I had never knowingly bought PPI and that I would "take my complaint to the Financial Ombudsman if I do not receive a more favourable response ." I wasn't expecting much, maybe a few hundred pounds. I received a letter this week saying that my claim had been upheld and I had been refunded over £10,000!

It turns out that the PPI they had 'sold' me had run from 1998 - 2006 and had cost about £2500. They added interest, etc to it and came to the final total. I was gobsmacked, but very happy!

I just wanted to share this and advise anyone to pursue a claim, even if you don't think you have ever taken out PPI and even if you have very little information to hand. Most importantly, do it yourself and don't use an agency!!