PPI Reclaiming Discussion Part 5

brown1950

amersall wrote: »

You made the claim and were compensated, if you were paid less than you should have, Natwest will contact you I am sure if there was an error.

Claims companies will tell you anything to make a quick buck, keep your hard earned in your pocket.

Are you really serious that Nat West will contact customers to say
''sorry we have made a mistake'' ??? I have a PPI claim with Barclaycard where i have had to point out to Barclaycard numerous underpayments and having received 4 separate payments still they have in my estimation underpaid the PPI reclaim so now with the FOS - still waiting for outcome after 18 months ! Oh and forgot to mention
my Barclaycard application form in 1985 was completed without the PPI being ticked by me ! I estimate Barclaycard have underpaid PPI compensation by £12,000.00

amersall

brown1950 wrote: »

Are you really serious that Nat West will contact customers to say
''sorry we have made a mistake'' ??? I have a PPI claim with Barclaycard where i have had to point out to Barclaycard numerous underpayments and having received 4 separate payments still they have in my estimation underpaid the PPI reclaim so now with the FOS - still waiting for outcome after 18 months ! Oh and forgot to mention
my Barclaycard application form in 1985 was completed without the PPI being ticked by me ! I estimate Barclaycard have underpaid PPI compensation by £12,000.00

Banks ARE contacting customers who "may" have been mis sold PPI, or where they have miscalculated the redress in some cases but have then rectified this.

If the op believes the redress they got was not calculated correctly, they can ask the bank to look at this again without having to pay a % to a scam company to do this.

How did you manage to pay PPI for nearly 30 years and not know?, especially as it was on every statement and could have been cancelled at any given time.

Nasqueron

brown1950 wrote: »

Are you really serious that Nat West will contact customers to say
''sorry we have made a mistake'' ??? I have a PPI claim with Barclaycard where i have had to point out to Barclaycard numerous underpayments and having received 4 separate payments still they have in my estimation underpaid the PPI reclaim so now with the FOS - still waiting for outcome after 18 months ! Oh and forgot to mention
my Barclaycard application form in 1985 was completed without the PPI being ticked by me ! I estimate Barclaycard have underpaid PPI compensation by £12,000.00

There are plenty of posts on this forum from people who have been contacted by the bank saying they underpaid and sending them more, even cases where the bank rejected it and then reviewed and paid out.

I would ask though if you didn't tick the PPI box, why didn't you complain back in 1985 when you got a PPI charge on your statement?

ejbg2001

Hi, I have a query on how far back a PPI claim can go. I took out a Capital One credit card with PPI pre 2001 (not sure how far back) and about 5 years ago swapped the balance over to another cc. I don't have many details of the old account as I moved property about 3 years ago and can't find any paperwork. All I recall is that I was paying PPI on it for a good while.

I was also paying PPI on the mortgage I took out in 2001 but stopped it when I was sacked from a job as I knew the PPI didn't cover that, just redundancy and I couldn't afford the extra bill.

I don't remember if I actively signed for PPI on either or if it was just stuck on and I left it cos it sounded like a good idea at the time, though it was probably the latter, being a first time buyer. Can I still make claims and should I contact the companies for copies of documents and statements first before I start?

Thanks in advance from one very confused first-time claimer!

Nasqueron

ejbg2001 wrote: »

Hi, I have a query on how far back a PPI claim can go. I took out a Capital One credit card with PPI pre 2001 (not sure how far back) and about 5 years ago swapped the balance over to another cc. I don't have many details of the old account as I moved property about 3 years ago and can't find any paperwork. All I recall is that I was paying PPI on it for a good while.

I was also paying PPI on the mortgage I took out in 2001 but stopped it when I was sacked from a job as I knew the PPI didn't cover that, just redundancy and I couldn't afford the extra bill.

I don't remember if I actively signed for PPI on either or if it was just stuck on and I left it cos it sounded like a good idea at the time, though it was probably the latter, being a first time buyer. Can I still make claims and should I contact the companies for copies of documents and statements first before I start?

Thanks in advance from one very confused first-time claimer!

As you don't have any records you would be relying on the bank to still have them (you don't actually need a copy of statements to make a complaint though).

It is worth noting that financial organisations usually keep records for only 6 years after the account is closed and then delete them in line with DPA rules - chances are an account closed in 2009 is getting close to being binned so you would need to speak to them on Monday and see if they have any record of you. If the first line team can't find you, you'll have to risk £10 on a SAR and see what they have left.

Do note though, proof of paying for PPI is not proof of miss-sale. Don't mix up "claim" with "complain" - you are doing the latter - simply having PPI is not a miss-sale reason. Clearly you knew you had it and you appear (not judging you, just how it will read to the bank) as a chancer trying it on after all the PPI stories in the press as you aren't clear in your post how you even ended up with it, let alone it being miss-sold. Focus on honest reasons why you think it was miss-sold if the bank still has any records left, if not, then let it go.

oorbrian

My claim against Capital One was upheld by adjudicators twice and Capital One asked for it to be sent to Ombudsman for final decision. Capital One sent FOS a letter but no new evidence the adjudicators inform me. That was in March/ April 2013 and I am still waiting. It is now about 21 months. Does anyone know what my chances of success are given recent cases and how long the Ombudsman is taking now? I was led to believe it was approx 18 months but that has passed now! I know interest is accruing but so are my bills!

mippy

Hello

Because I was a complete financial idiot as a student, I opened three store cards administered by GE Capital - one in 2000, and the other two in 2001 or 2002. When I was out of work, the PPI did not cover the costs, I couldn't pay it back, and they eventually ended up being paid back under CCJs. They were paid off in full by 2006.

As these accounts were opened so long ago, and were not paid back in the conventional way, can I still claim? Also, GE have since been taken over - is it likely they'll even have my details? Would this be a situation where it's more beneficial for me to try via a claims firm?

(I also have a Barclaycard opened in 2003 - I paid PPI on this for a couple of years, but as it was only closed in 2012, it's still on my credit file.)

mippy

Also, I no longer have the statements to allow me to calculate any amounts myself..

Nasqueron

mippy wrote: »

Hello

Because I was a complete financial idiot as a student, I opened three store cards administered by GE Capital - one in 2000, and the other two in 2001 or 2002. When I was out of work, the PPI did not cover the costs, I couldn't pay it back, and they eventually ended up being paid back under CCJs. They were paid off in full by 2006.

As these accounts were opened so long ago, and were not paid back in the conventional way, can I still claim? Also, GE have since been taken over - is it likely they'll even have my details? Would this be a situation where it's more beneficial for me to try via a claims firm?

(I also have a Barclaycard opened in 2003 - I paid PPI on this for a couple of years, but as it was only closed in 2012, it's still on my credit file.)

Store cards - you'll have to complain to the store that sold it first, they will reject it as it was pre-regulation (started in 2005), after that you'll have to try the insurer (GE Capital have no liability as they didn't sell it to you) - there are plenty of cases on this forum if you search for store card PPI, used to be Genworth for store cards.

You say "PPI did not cover the costs" - do you mean you tried to claim on it and it didn't cover 100% of your bill or that it would not pay out? If you tried to claim and got money from them then you're on to a hiding for nothing complaining even if it was inside regulation as you used the insurance. If you were prohibited from claiming you may have a valid case but depends on whether the insurer will take it on or not (they don't have to).

There are no circumstances where it is beneficial to use a claims firm - you still have to do all the work (providing account details, documentation, work benefits etc) and they just post it off for you, do you really want to give 25-40% of any refund for them to save the price of a stamp? In addition, if any money was written off as part of your repayment plan you would not get that money but the PPI claims firm would still bill you for it.

The Barclays one will, in theory, be easier as it's regulated - just need to send them in a complaint as per the form/guide on this website - do note you need complaint reasons, simply have PPI is not a miss-sale reason. You do not need statements, PPI refund is just what you paid with any applicable interest and the bank will calculate it for you.

mippy

I used the insurance on the store cards for price protection - when something went down in price, I was able to claim back the difference. So you could be right.

I will, however, perservere with Barclays!