PPI Reclaiming Discussion Part 5

Emeeshy

I am in the process of looking into if I can claim miss sold ppi but I don't have my original agreement for my credit card. I have called the bank to request this but have been told they might not have a copy as I took the credit card out in 1993 and they are only obliged to hold paperwork for 6 years. What do I do if I can't get the original agreements? I still have the credit card. Thanks

Nasqueron

Emeeshy wrote: »

I am in the process of looking into if I can claim miss sold ppi but I don't have my original agreement for my credit card. I have called the bank to request this but have been told they might not have a copy as I took the credit card out in 1993 and they are only obliged to hold paperwork for 6 years. What do I do if I can't get the original agreements? I still have the credit card. Thanks

You don't need the original agreement for the CC to make a PPI complaint - if you still have the card just look at your monthly statement - does it have a deduction for PPI (assuming you don't pay off the balance in full - if you pay off in full every month you would never have paid any PPI)?

If you don't have any deductions for PPI you don't have it - you could look through old statements or ask the bank to check to see if you ever did.

Emeeshy

Hi.yes, I pay Ppi every month on the balance of the credit card. I don't remember signing up for ppl when I originally got the card so not sure how I go about claiming?

dunstonh

Emeeshy wrote: »

Hi.yes, I pay Ppi every month on the balance of the credit card. I don't remember signing up for ppl when I originally got the card so not sure how I go about claiming?

You put in your complaint by writing to them stating your reasons for complaint. There is a FOS form you can download that asks a range of questions that they need to know.

Insider101

Emeeshy wrote: »

Hi.yes, I pay Ppi every month on the balance of the credit card. I don't remember signing up for ppl when I originally got the card so not sure how I go about claiming?

That's not surprising. I don't remember what I was doing 22 years ago either. What do you actually think they have done wrong though?

Nasqueron

Emeeshy wrote: »

Hi.yes, I pay Ppi every month on the balance of the credit card. I don't remember signing up for ppl when I originally got the card so not sure how I go about claiming?

Send a letter to the bank using the FOS claim form (it's available on this site) and explain why you think you were miss-sold the insurance and see what they say. Don't send documents - if they need them you can send copies later

If they reject you have 6 months to refer to the FOS for a review.

hyperballad0

I am in the process of writing to my previous credit providers re possible PPI reclaim and one of them has responded to say that if I wish to have a copy of my finance contract, I need to pay them £10. I am aware that this is the fee for a Data Subject Access request, but this is not what I want.
Does anyone know if Company's can charge you for a copy of your contract? The Company in question is NewDay Ltd.

Thanks

Sophie

zxxsara

I have a few questions about reclaiming my PPI and hope you can help. I would like to know if I am entitled to PPI as I have had six credit cards for more than 10-15 years but they were all in arrears for many years. They have all accepted £1-£3 monthly payments. I have been making these payments regularly. I am a full time carer for my daughter who is Autistic with complex needs. I am 58, my husband is on state pension and I do not have any income. I would like to know if I can get PPI as I receive many calls from companies but as I am unsure I have not gone through with it. I would like to pay my creditors off with the money in receive through PPI. Kindly let me know if anyone can help. Thank you.

Nasqueron

zxxsara wrote: »

I have a few questions about reclaiming my PPI and hope you can help. I would like to know if I am entitled to PPI as I have had six credit cards for more than 10-15 years but they were all in arrears for many years. They have all accepted £1-£3 monthly payments. I have been making these payments regularly. I am a full time carer for my daughter who is Autistic with complex needs. I am 58, my husband is on state pension and I do not have any income. I would like to know if I can get PPI as I receive many calls from companies but as I am unsure I have not gone through with it. I would like to pay my creditors off with the money in receive through PPI. Kindly let me know if anyone can help. Thank you.

No-one is "entitled" to PPI refunds - you need to put in a complaint about miss-selling, explaining why you think it was miss-sold to you.

Do note that there is a good chance any refund of payments would be put against your debts (which I appreciate you are trying to do) so if you employ a claims company they would send you a bill for a % of the refund even if you do not get a penny directly - thus you should not employ a claims company (shouldn't anyway but especially not in this case).

Best thing would be to ring the banks and ask them if there was PPI on the accounts or look at old statements. If you were a full-time carer at the time you got the cards you may well have been miss-sold as the policy doesn't normally cover that sort of thing - however, you would need to establish if you actually had it before complaining.

To reiterate, do not use a claims company - will give you an example why:

Let's say you owe £10,000 to the credit card companies
You win £5000 in refunds
£5000 is taken off your debts leaving you owing £5000
Claims company will demand something like 30% of £5000 i.e. £1500 from you - so you do not actually get any money yourself but have to pay them £1500 - where would you get that money from...

louise_cox84

If I passed my details to a PPI company over the telephone, including name of bank and former address details, have I entered into a contract with them? I agreed to 33% 😁 but have now changed my mind and would like to contact bank myself. I haven't received anything in the post and therefore haven't signed anything.