PPI Reclaiming Discussion Part 5

Nasqueron

Stoutp wrote: »

Hi yes I thought I had already started with them however all I did was give them permission to look into my account re ppi. I don't think they are lying as they have informed me other accounts have no ppi. The letter clearly states if I wish to prove miss sold ppi myself I should seek advice. I had not previously signed anything in regards to agreeing their fees or contract.

Stoutp, CMCs have no "magic powers" to get data on you, there is no database of accounts - only the bank (or your records) would have this.

The only way to know you had 6 accounts (credit card/loans) with PPI would be to get the bank to tell them that - either through ringing them up or sending them a DSAR (request for all the data they hold on you) - to do this they must have your signed authority to do so, or they are committing fraud (and it costs them £10 for the DSAR so I doubt they would do that without you agreeing for them to represent you already else you could just do it yourself with that knowledge).

As such, either they are lying about 6 accounts (have you had 6 loans / credit cards with the Halifax?), they committed fraud or you have already signed an agreement for them to represent you in which case you would have to see their Ts & Cs on what it will cost to cancel.

You can do your own DSAR for £10 to get the bank records

Stoutp

Yes as my previous contact says, I gave them permission to contact the banks but did not sign any contract. The contract has only now been included with this paperwork received yesterday.

dconnolly

Hi I have been made redundant not long ago, I have a capital one credit card and I was told by Axa the insurance provider that I am not entitle to claim as I wasn't paying national insurance. I wasn't aware about this. I Need a good advice please.

Thank you.

Nasqueron

Stoutp wrote: »

Yes as my previous contact says, I gave them permission to contact the banks but did not sign any contract. The contract has only now been included with this paperwork received yesterday.

If they did then I would cancel it, and get it in writing that they are not representing you, you might be billed something but better than spending a huge chunk of any refund.

Then send Halifax an DSAR for their records and you will see if there is any PPI or not - if there is and the claims firm were telling the truth you should have the account numbers to make a complaint.

Iori_2

Hi,

I have a question regarding a PPI policy that was taken out in 1999 that I would appreciate some input on. The policy was on a “Graduate Loan” which was something Natwest would give you if you had recently graduated from university and received a firm job offer, but had not yet started work. The loan I took was to pay for a car so I could reach my new job.

I spoke to an advisor on the phone who pushed me towards the PPI. At the time I did not have all the details of what my employer would provide for unemployment/sickness cover. The advisor recommended that I took the PPI to cover myself at least until I had started work and learned the details of my cover.

I was told by that advisor that the PPI would be an extra monthly payment that could be cancelled at any time.

After starting work and learning the details of the cover my employer offered I decided to cancel the PPI payment. I called Natwest a few times to try and cancel that part of my loan repayment (the first time was within the first 2 weeks of the policy) but no one seemed able to help. I was eventually told that the PPI had been charged up front as a lump sum and was not just a monthly payment as I had been told it would be. And since the payment had already been paid out to the insurance company then a refund was impossible without repaying the whole loan.

Looking back on this after all these years it certainly feels to me to be a case of mis-selling, but I wanted to check with some experts before I wasted my time filling in forms and writing letters. I did consciously decide to take the PPI, but only on the understanding that it could easily be cancelled. If anyone has any input or advice then please let me know.

Thanks.

amersall

If you have all the paperwork and proof that you paid all the PPI then put a claim in for mis sell.

If you have no paperwork and after 16 years I doubt the bank will, a claim will be out of the question.

Iori_2

I have the PPI certificate with the policy number which turned up during a recent house move. I also have almost all the statements from the loan account, up until mid 2005. The statements have a lot of details like the account number, the amount of the PPI premium that was charged and the interest rate. Is this enough documentation?

Nasqueron

The issue would most likely be whether the PPI would payout in your circumstances i.e. so soon after starting the job if you were off sick and couldn't claim on the work policy or if it would cover something like not passing a probation period and help you in between jobs. If it would pay out you would struggle to show it was miss-sold, if it would not pay out then it would be miss-sold

Iori_2

Thanks. I think the point that has most irritated me over the years is that I was told the policy would be easy to cancel, but this turned out to be a lie. I thought this in itself might constitute mis-selling.

Am I expected to have proof of what the advisor told me over the phone about cancellation?

amersall

Send copies of the documentation that you have, let them know that you tried to cancel it, you could mention the fact that you were told you could cancel, make it clear that you have no proof of that, this is hearsay and is hard to prove.

If they did let you cancel in the first 2 weeks, they were correct in that a new loan would have had to been made.

As you paid the premium upfront, Single Premium, use this as one of the reasons for mis sell, this was in effect a loan on the loan repaid to term with interest.

Let us know how you get on.