PPI Reclaiming Discussion Part 5

[Deleted User]

Nasqueron wrote: »

Remember PPI is not a bad product

Other than being very expensive and largely useless, you mean? I'd say your statement is eminently debatable.;)

However, the point is that it is not somehow wrong to have insurance and, as you say, in order for it be refunded it has to have been mis-sold.

Nasqueron

Moneyineptitude wrote: »

Other than being very expensive and largely useless, you mean? I'd say your statement is eminently debatable.;)

However, the point is that it is not somehow wrong to have insurance and, as you say, in order for it be refunded it has to have been mis-sold.

PPI (especially MPPI) where it was set up properly and would pay out was a good product - for a credit card, typically around 70-80p per £100 of debt is not "very expensive" and if it covers your payments (or at least minimum) so you don't get late payment charges which will kill your credit record, then yes it is very good - imagine £1000 of debt, paying £8 a month - if you miss the payment you get £12 charge (these days, much more in the past) and a late payment marker on the credit record.

The miss-selling is stuff like single premium on loans or where it wouldn't cover people or where people were mis-led by sales staff, but the scandal is all about miss-selling, not the product itself.

[Deleted User]

Nasqueron wrote: »

PPI …..was a good product

As I said, eminently debatable. Expensive (always) useless (often).

Wasn't referring to Mortgage protection…

Jiffj

Currently about to go through the process of claiming back mis sold PPI with RBS for a loan of £9700 when I was 18 (2008) over 5 years. Worked out I was paying almost £50 a month extra for 60 months on something I was told MUST BE TAKEN OUT or loan would be declined due to my age.

I wanted to ask at the time of taking out the loan I was an apprentice with a weekend job (10 hours) would this also be a case for mis sold PPI? Not sure on how the cover effects apprentices?

My reasons for complaint are
*forced/pushed into taking out PPI to avoid loan refusal.
*very little information given on the policy while visiting branch to sign paper work (not told of PPI prior to loan approval before meeting)
Waiting to see if the apprentice situation is also a grounds for complaint.

[Deleted User]

Jiffj wrote: »

Currently about to go through the process of claiming back

Already answered on your duplicate posting….

https://forums.moneysavingexpert.com/discussion/comment/70105821#Comment_70105821

TheMenFromUGLY

Hi !

Two questions...

1. If I took a loan out with for example the RAC but it was actually RBS Bank who ended up providing the loan, do I claim my PPI back from the RAC or from RBS ?

2. I took out a PCP contract for a Mercedes car back in 2006 and was going through some old paperwork to clear out when I noticed hidden away that the PPI box was pre-ticked and I believe i paid PPI on this. Can I claim this back? And should I direct the letter at Mercedes or Daimler-Benz finance (who it turns out actually provided the PCP deal)?

Many thanks.

Stu

dunstonh

1. If I took a loan out with for example the RAC but it was actually RBS Bank who ended up providing the loan, do I claim my PPI back from the RAC or from RBS ?

The firm that sold you the PPI (assuming you didnt buy online).

2. I took out a PCP contract for a Mercedes car back in 2006 and was going through some old paperwork to clear out when I noticed hidden away that the PPI box was pre-ticked and I believe i paid PPI on this. Can I claim this back? And should I direct the letter at Mercedes or Daimler-Benz finance (who it turns out actually provided the PCP deal)?

It wont be pre-ticked if its on paper as how would you untick it? What is likely is that you agreed it (or that is what they will say) and the paper copy was generated from what was entered on screen.

an I claim this back? And should I direct the letter at Mercedes or Daimler-Benz finance (who it turns out actually provided the PCP deal)?

Again, you complain to whoever sold the PPI. That is probably the dealer in this case.

[Deleted User]

TheMenFromUGLY wrote: »

I noticed hidden away that the PPI box was pre-ticked and I believe i paid PPI on this.

Paper application forms were not pre-ticked, and pre-populated boxes are only a complaint reason if the original purchase of the PPI was made online. Your copy of the paperwork will only appear to be pre-ticked because it is a screenshot of what you agreed to.

NikkiWilde85

Hi,

I'm hoping someone here will be able to help me as I don't know where else to go!

My husband had a Barclaycard for about 12 years with a £10k plus balance on it most of the time. He tried to claim the PPI back from Barclaycard but they refused the claim. We sent the info to the ombudsman in 2012... No that's not a typo... 4 years ago!

They said we had a case and they instructed Barclaycard to pay out. Barclaycard refused again. This was in 2014. We expect it's because it's quite a large sum on money they're doing what they can to avoid paying it.

After not hearing anything for a further 2 years my husband finally gave in and rang the ombudsman yesterday (he's a very patient man). They've now said they will have to reassess the case due to new case law and it's not as clear cut as it previously was. So he may not get the money owed to him. Basically because the ombudsman have dragged their feet and Barclaycard played a blinder refusing the claim!!

What can we do???

Sorry for the long post!

Nikki

[Deleted User]

Many people have waited years for a final conclusion of their complaint with the Ombudsman. Four years is certainly not the record.

The Ombudsman does not drag it's feet, but the Banks can often delay matters (as can customers) by continual appeals.

All you can do is continue to be patient.