PPI Reclaiming Discussion Part 5

joffyjunior

hi, I would say to everyone , DO IT YOURSELF or at least don't do what I did. I paid nearly £1000 upfront to a company called Mccaskill & Morse who work along side another company called Go Claim Ltd (I didn't realise I was dealing with 2 companies when they "cold called" on the phone), I "won" the ppi claim against NatWest, £1482, but then I had to pay Go Claim Ltd 20%+VAT. I ended up with around about £55 in my pocket!
Please try and do it yourself.:(

crawleyclaire

I followed Martins advice in 2012, followed the process online sent off the application and the Credit card company in question 'MBNA' wrote back to say that I did not qualify for a PPI claim as I have ticked a box on my application form (a copy of this was sent along with their letter) and that was that.....
At that stage I was sick of the process and to be honest thought it was a hopeless cause so didn't follow it up with the Ombudsman.

Fast forward the November 2014, I just received a letter in yesterday to day that although my claim in 2012 was rejected, that they review cases periodically (yeah right) and that I was entitled to a claim and I am being sent a cheque for just under £500 quid!!
I dunno if that was an act of god or a crisis of conscience , but it either way I am delighted and it couldn't have happened at a better time....:beer:

A few months ago I challenged my bank with regards to a fee they charged me for a U first account and won a claim back on this ...so its always worth a shot

Do not give up hope!

Nasqueron

crawleyclaire wrote: »

I followed Martins advice in 2012, followed the process online sent off the application and the Credit card company in question 'MBNA' wrote back to say that I did not qualify for a PPI claim as I have ticked a box on my application form (a copy of this was sent along with their letter) and that was that.....
At that stage I was sick of the process and to be honest thought it was a hopeless cause so didn't follow it up with the Ombudsman.

Fast forward the November 2014, I just received a letter in yesterday to day that although my claim in 2012 was rejected, that they review cases periodically (yeah right) and that I was entitled to a claim and I am being sent a cheque for just under £500 quid!!
I dunno if that was an act of god or a crisis of conscience , but it either way I am delighted and it couldn't have happened at a better time....:beer:

Do not give up hope!

Actually, as an example, if they identify a failing in the works of one case handler it can trigger a review of all cases they looked at to see if they were incorrectly rejected - periodic reviews are what ensures they remain compliant with current practice.

Well done on your win, it was nothing to do with bank conscience or an invisible sky wizard but rather a necessary process which has identified a previous problem resulting in you getting the money you were entitled to.

akm150

Hi all, help needed please
I wanted to ask , has anyone had or heard of a 'decreasing term assurance' it was sold to me in 1996 and expired in 2011. it was to cover me for a commercial mortgage i took out with the then midland bank. it was never explained that i could get this anywhere else or the details of it, just that if i wanted this commercial mortg, i needed to have it. Is this a case for misselling? im not sure myself thank you

[Deleted User]

akm150 wrote: »

it was never explained that i could get this anywhere else

In 1996 it was not a requirement for Banks to point out that customers could buy elsewhere.

You wouldn't go into Tesco and expect them to tell you that you can also buy in Asda would you?

It was your own responsibility to "shop around" for the best deal.

Nothing in your post indicates any mis-sale of a legitimate and useful financial product.

Alpine_Star

Moneyineptitude wrote: »

It has never been a requirement for Banks to point out that customers can buy elsewhere.

Since 2010 any advertising and marketing material for PPI must state that PPI is available elsewhere.

[Deleted User]

Alpine_Star wrote: »

Since 2010 any advertising and marketing material for PPI must state that PPI is available elsewhere.

Original post edited accordingly.The Op does not appear to have had PPI, but decreasing term assurance.

Insider101

akm150 wrote: »

Hi all, help needed please
I wanted to ask , has anyone had or heard of a 'decreasing term assurance' it was sold to me in 1996 and expired in 2011. it was to cover me for a commercial mortgage i took out with the then midland bank. it was never explained that i could get this anywhere else or the details of it, just that if i wanted this commercial mortg, i needed to have it. Is this a case for misselling? im not sure myself thank you

It's life cover which pays off the balance of your mortgage in the event of your death. It was a pretty common requirement on business loans at one point.

dunstonh

akm150 wrote: »

Hi all, help needed please
I wanted to ask , has anyone had or heard of a 'decreasing term assurance' it was sold to me in 1996 and expired in 2011. it was to cover me for a commercial mortgage i took out with the then midland bank. it was never explained that i could get this anywhere else or the details of it, just that if i wanted this commercial mortg, i needed to have it. Is this a case for misselling? im not sure myself thank you

1 - no requirement to tell you that you could buy it elsewhere
2 - its life cover. Not much you can say about it. So, what details do you want?
3 - business lending frequently requires security of a life assurance policy. Nothing wrong with that and it is allowed still today.

So, based on what you have said, your life assurance was not mis-sold

akm150

Moneyineptitude wrote: »

Nothing in your post indicates any mis-sale of a legitimate and useful financial product.

thanks for advice