PPI Reclaiming Discussion Part 5

dunstonh

matmurray wrote: »

Hi everyone,

I want to contact Egg, Natwest and Halifax to see if I had any PPI stuff on my various credit cards.

On the main Reclaim Credit Card PPI Free page (Sorry, as a new user I'm not allowed to post links) it says to send off a letter to and ask about any insurance products on my account. Meanwhile, everywhere else I look, I see reference to SAR letters.

So which one should I send? The first one, or a SAR?

Thanks!

You can either contact the bank on their complaints telephone line and ask them if you held PPI (which will cost no more than a local rate call). Or you can write to them and do a DSAR and pay £10 for each bank.

WatchMan

Nasqueron wrote: »

Choice is either to wait or refer to the FOS to join a longer queue (and the bank will probably stop investigating)

There aren't too many queues at FOS now.

Most new complaints should be dealt with fairly quickly.

Jazzband

If anyone needs Ppi help. Or questions on iva or bankrupt give me a shout.

[Deleted User]

Jazzband wrote: »

If anyone needs Ppi help. Or questions on iva or bankrupt give me a shout.

You are not allowed to tout for business here.

If you have specialist knowledge, feel free to share it on the forum for everyone to get the benefit of.

matmurray

dunstonh wrote: »

You can either contact the bank on their complaints telephone line and ask them if you held PPI (which will cost no more than a local rate call). Or you can write to them and do a DSAR and pay £10 for each bank.

Thanks!

Just rang Halifax and Natwest and they said I didn't have any PPI products on my accounts. Rang Egg and they said that they couldn't tell me over the phone, so I need to write a letter to them to find out. Still, at least it's only one company left to deal with.

The thing is though; what's stopping these companies saying I didn't have any products on my account? Of course they could get reprimanded if it turns out that they were lying, but most will just believe what they say on the phone and not chase it.

dunstonh

The thing is though; what's stopping these companies saying I didn't have any products on my account?

The regulator has fined a few companies multi-millions of pounds and forced them to go back and check and has imposed stricter processes on them that usually result in greater redress being paid than had they done it correctly in the first place.

A firm caught telling lies risks significant damage that would be reflected in its regulatory position and media/consumer image for a decade or so.

[Deleted User]

matmurray wrote: »

most will just believe what they say on the phone and not chase it.

The many "complaints" received by Banks from people who didn't actually have any PPI is evidence that a lot of people refuse to believe!

gordonbarr63

When I got my mortgage, I declined the PPIC and other plans, as I had enough saving to cover.
I was told however that the bank need to be covered in case of problems and I would have to have an insurance policy with eth bank as the benefactor. I have been paying for a Decreasing tem assurance with critical illness policy with the bank.
This idea sounds a lot like a PPI, as they will be paid if there is some sort of trouble, but is it the same?

Nasqueron

gordonbarr63 wrote: »

When I got my mortgage, I declined the PPIC and other plans, as I had enough saving to cover.
I was told however that the bank need to be covered in case of problems and I would have to have an insurance policy with eth bank as the benefactor. I have been paying for a Decreasing tem assurance with critical illness policy with the bank.
This idea sounds a lot like a PPI, as they will be paid if there is some sort of trouble, but is it the same?

That sounds like either a MIG to cover the lender (which is perfectly legal and if their policy is no MIG no loan then that is not a miss-sale) or life insurance which was often mandatory for mortgages - it is NOT PPI.

If you had enough savings to buy a house, why did you get a mortgage?

dunstonh

gordonbarr63 wrote: »

When I got my mortgage, I declined the PPIC and other plans, as I had enough saving to cover.
I was told however that the bank need to be covered in case of problems and I would have to have an insurance policy with eth bank as the benefactor. I have been paying for a Decreasing tem assurance with critical illness policy with the bank.
This idea sounds a lot like a PPI, as they will be paid if there is some sort of trouble, but is it the same?

It sounds nothing like PPI.

The first bit of your post suggests MIG - mortgage indemnity guarantee. This was a single premium policy common until the mid to late 90s that was charged to people borrowing high loan to valuations. Very different to PPI.

The second bit about life assurance and CI cover is again very different to PPI. No overlap at all. Most people take these out to cover their mortgage and is quite normal.