PPI Reclaiming Discussion Part 5

CRAZY:HORSE_2

Sorry I posted this in the wrong thread before so here goes..


I had a secured loan on my mortgage with GE Money back in 2003 and a further three re-loans after that leading up to 2006.
The loans were quiet substantial and so was the payment protection they added on each loan. The total payment protection I had totalled over £12000.
Each amount was added on top on the loan and the cover only lasted for 5 years, the loan period was for 20 years.
At the time I had a good pension from the NHS for 32 years service, which I get every month for life and I am also taking tablets for blood pressure problems. I did explain this when taking out the original loan.
I have all the original paper work to prove the ppi amounts etc..
I have put in a complaint all ready but I just wanted to know off some of you guys on here, if you think I have a good case or not?
Many thanks

amersall

They may come back with "this was pre regulation" as they would not have been regulated in 03.
Normally with this type of loan you would have a very good case for mis sell
as the PPI only covered you for 5 years but you repay this to term end, it was Single Premium PPI and none of this would have been explained to you fully at loan inception to make an informed decision.
See what they come back with and post up with the reply.

CRAZY:HORSE_2

Thanks for the reply amersall !

GE have taken the complaint on board and are investigating, I told them that the broker for the loans was loans.co.uk and they were bought out by mbna in 2005 I believe. And that I thought I should be contacting them as the broker but they still said they were dealing with the complaint!


I am very confused! The ladie I spoke to said that they were currently paying out for this type of miss sale. So am I to believe GE are part of mbna or are they just co-operating to sort out these complaints?


Also three of the loans were before 2005 but I thought insurance companies i.e. loans.co.uk were regulated by a different body?!?!


Any answers appreciated and yes I will keep you updated on this one.

amersall

You may be lucky, fingers crossed.

ashpan

HI - Hope im posting in the right place, please move me on if not!

I know i had a credit card with my ex around 1989 which was regularly used but i cant for the life of me recall who it was with, i appreciate this may sound ridiculous but i know that we spent a lot of money on this card and am pretty sure we had PPI

My question is, is there anyone else in the same position and/or any guidance as to how i can trace who my card was with?

dunstonh

I know i had a credit card with my ex around 1989

Who was the cardholder? You or the ex.

1989 did see some PPI but it was not common then.

ashpan

we were joint card holders but i have no idea where he is now

dunstonh

ashpan wrote: »

we were joint card holders but i have no idea where he is now

There is no such thing as a joint cardholder on a credit card. One person is the account holder. Any subsequent card issued is to additional cardholder. However, those additional cardholders are not the account holders. They are not liable for the debt and cannot put in a PPI complaint.

fermi

FCA statement on possible 'deadline'

http://www.fca.org.uk/news/firms/statement-on-payment-protection-insurance-ppi

The FCA intends to consult on a deadline falling two years from the date the proposed rule comes into force - which, subject to consultation, would not, we anticipate, be before spring 2016 – hence PPI consumers would have until at least spring 2018 to complain (Note 4).

whitershadeofpale

Hello

This is the first time I am posting, but an ex-colleague of mine who has recently retired promised for years to do something about this, but I have now found that she didn't make enquiries anywhere. It leaves me to now ask for any advice you could offer...

Back in April 2001 (I think that date was about right), my partners and I bought a property through that was mortgaged through Lloyds Bank. At the time, I am fairly sure that we had little choice in having to take out Scottish Widows life cover on all three partners, as well as offering security on our own properties –!standard stuff I know.

We didn't seen to have any choice in the matter when it came to the life cover, but I have only recently fond out after my partner has retired that we have still been paying the monthly premiums until a month or two ago until I cancelled them with view to making enquiries somewhere to find out if I was eligible to make a claim. The property was sold in April 2006, but it seems as if we have unnecessarily being paying these premiums for all of those extra years.

Is there any things I can do about:

a) claiming against the original selling of the policies;

b) claiming back all of those unnecessary years where the mortgage had been settled (at the end of April 2006)? Should Scottish Widows been told by Lloyds back in April 2006 that the cover was no longer required?

Thanks in anticipation of your help...