PPI Reclaiming Discussion Part 5

amersall

Were you covered for sickness and redundancy with this PPI?.
Don't think price protection is in with PPI, or is it?.

mippy

It was a long time ago, but I am pretty sure I took it out on the first place on that basis - I remember being on the phone to Barclaycard when I wasn't working and couldn't afford to pay, asking why I couldn't get my insurance to cover it and being told it did not. That would have been my only incentive to sign up for it (the price protection was the incentive with the store card) though claiming this means it was mis-sold may sound too vague for the card company. Worth a shot anyway?

Price protection may have been a different element with the store cards. It sounds like they aren't a good place to start, anyway.

Nasqueron

mippy wrote: »

It was a long time ago, but I am pretty sure I took it out on the first place on that basis - I remember being on the phone to Barclaycard when I wasn't working and couldn't afford to pay, asking why I couldn't get my insurance to cover it and being told it did not. That would have been my only incentive to sign up for it (the price protection was the incentive with the store card) though claiming this means it was mis-sold may sound too vague for the card company. Worth a shot anyway?

Price protection may have been a different element with the store cards. It sounds like they aren't a good place to start, anyway.

With these, you need to clarify and separate out what you are complaining about.

Barclaycard CC PPI
Storecard PPI (or Storecard price protection)

Your post reads like you were on the phone to Barclaycard to cancel the CC PPI but asking about the store card?

If you were sold PPI by Barclays and tried to claim on it but it wouldn't pay out (assuming you were made redundant, not sacked) then it sounds like it was not suitable so worth a complaint.

With the store card, establish what you were paying - if it was a price protection insurance policy then it's not PPI and would need to be worded as such but if you did claim on it then to be honest I'd leave that one as you're unlikely to win a complaint about a miss-sale when you benefited from the product.

pippitypip_2

Hi everyone, I've done a lot of searching so please forgive if this has been covered before but how do you go about reclaiming if you have no paperwork, not even account numbers, from over 10 years ago? The MSE template letters need the account numbers at least and I don't have anything at all..


Many thanks!
pippitypip

Destiny76

Hi folks,

I'm having trouble tracking down any information on this scenario. If this is a repeated post then I apoligise and also if someone could link me to it, that would be great.

So, I have had PPI on personal loans and also mortgages. My claim is against my employer, in that they provided adequate cover for me as an employee that made PPI not necessary. In addition to the fact that had I know the commission on the PPI I would have not judged it value for money.

I have successfully claimed my personal loan PPI although my employer failed to provide a reason as to why they upheld the complaint.

However, they have refused my claim for PPI compensation on my mortgage. This was refused on the basis that it was sold as unadvised. That it was my responsibility to review the benefits provided by my employer. Also that I did not challenge them regarding the commission on the PPI.

I feel agrieved in that it's my own employer, knowing they provided me with sick pay, redundancy pay, death in service cover etc, still sold the product without having that discussion.

Am I barking up the wrong tree?

Thank you for reading.

dunstonh

So, I have had PPI on personal loans and also mortgages. My claim is against my employer, in that they provided adequate cover for me as an employee that made PPI not necessary. In addition to the fact that had I know the commission on the PPI I would have not judged it value for money.

Couple of things here.
1 - as an employee of the firm that sold it, you do get a little less consumer protection. Not if you are in an unrelated area of the business but if you were in a role that knows these things, you cannot claim ignorance.
2 - you say you know the commission on the PPI is not judged value for money. To have that opinion suggests you are in a role.

I have successfully claimed my personal loan PPI although my employer failed to provide a reason as to why they upheld the complaint.

They dont have to give a reason buy typically you find that on short term unsecured debt, they roll over if there are employer benefits.

However, they have refused my claim for PPI compensation on my mortgage. This was refused on the basis that it was sold as unadvised. That it was my responsibility to review the benefits provided by my employer. Also that I did not challenge them regarding the commission on the PPI.

Commission is irrelevant.
The rejection fits with expectation as a mortgage is long term secured debt paid where PPI is paid out in addition to employer benefits. The FOS has been rejecting complaints put to them where people have been using that reason. So, its not a surprise to see a bank reject it.

I feel agrieved in that it's my own employer, knowing they provided me with sick pay, redundancy pay, death in service cover etc, still sold the product without having that discussion.

Did you employ an adviser to have that discussion? Products are available for sale on non-advised or advised channels. If you buy on a non-advised basis then you get less consumer protection and cannot complain about bad advice where no advice was sought or given.

Am I barking up the wrong tree?

On commission yes. That is totally irrelevant.
In respect of the MPPI, most of those do get rejected and your complaint reason indicates no wrong doing. So, the outcome is the expected one.

Destiny76

dunstonh wrote: »

Couple of things here.
1 - as an employee of the firm that sold it, you do get a little less consumer protection. Not if you are in an unrelated area of the business but if you were in a role that knows these things, you cannot claim ignorance.
2 - you say you know the commission on the PPI is not judged value for money. To have that opinion suggests you are in a role.



They dont have to give a reason buy typically you find that on short term unsecured debt, they roll over if there are employer benefits.



Commission is irrelevant.
The rejection fits with expectation as a mortgage is long term secured debt paid where PPI is paid out in addition to employer benefits. The FOS has been rejecting complaints put to them where people have been using that reason. So, its not a surprise to see a bank reject it.



Did you employ an adviser to have that discussion? Products are available for sale on non-advised or advised channels. If you buy on a non-advised basis then you get less consumer protection and cannot complain about bad advice where no advice was sought or given.



On commission yes. That is totally irrelevant.
In respect of the MPPI, most of those do get rejected and your complaint reason indicates no wrong doing. So, the outcome is the expected one.

I was under the impression that the judgement in Plevin v Paragon Personal Finance made commission a relevant topic for discussion. Also I was not in a related role to the PPI selling. I simply work for the company.

dunstonh

I was under the impression that the judgement in Plevin v Paragon Personal Finance made commission a relevant topic for discussion.

In that case the insurance was sold by an introducing broker, not a lender and a broker that calls themselves independent must disclose any remuneration obtained. That case also seems to have focused on the level of commission which is far higher than that which is seen on a typical MPPI product (which is closer to 25%).

You bought from a lender. Not an introducing broker. The relationship is different.

-taff

pippitypip wrote: »

Hi everyone, I've done a lot of searching so please forgive if this has been covered before but how do you go about reclaiming if you have no paperwork, not even account numbers, from over 10 years ago? The MSE template letters need the account numbers at least and I don't have anything at all..


Many thanks!
pippitypip

The only thing yu can do is to send a SAR and £10 to each company you had credit with to find out if there are any records left.
If there are no records, you can't complain.

Purplewelshy

The mortgage company that sold me ppi has gone bust, does anyone know if there is anything I can do now?

Thanks,

Chris.