PPI Reclaiming Discussion Part 5

-taff

It may be timebarred as you knew about it more than 6 years ago

maltodextrin

I've put a claim in to HFC using resolver, and provided all the information required.

I've had a letter back saying that they can find no record, but could I fill in the attached form and they will look into it. The form appears to ask exactly the same questions that I've already answered on my original submission.

Can they ask me to do this again? Can I not refer them back to my original application?

I have the original loan documents, can I send scans as 'proof''?

[Deleted User]

maltodextrin wrote: »

Can they ask me to do this again? Can I not refer them back to my original application?

I'd do whatever the Bank request if I were you.

In addition, by all means send scans of the loan agreement but you'll also need statements showing you actually paid PPI on the loan and didn't cancel it.

Did you put the account number on your original complaint submission?

maltodextrin

Moneyineptitude wrote: »

Did you put the account number on your original complaint submission?

Numbers, dates, names where I had them.

I'm just concerned that they're stalling to see if I give up. It's a long handwritten form that will give them nothing they don't already have. Seems a bit cheeky.

[Deleted User]

maltodextrin wrote: »

I'm just concerned that they're stalling to see if I give up. It's a long handwritten form that will give them nothing they don't already have. Seems a bit cheeky.

They simply want you to use their forms. Why did you use Resolver in the first place? That's just an unnecessary third party involvement which many have also found frustrating.

They are not "stalling".

What you have to be concerned about is that they no longer have records of this finance. As I said, you won't just need the original Agreement but also proof that you actually paid the PPI on the loan. For all they know, you could have cancelled the PPI during the cooling off period..

4N4LOG

Hi


Im sure my subject has been covered somewhere - but I cannot find it


25 years ago we bought a house, using a Building Society to fund it. The loan included an ENDOWMENT Policy with joinmt life cover.


I paid into a good pension scheme with great cover and if I was injured at work or died as a result of working, my pension would be sufficient to pay all our bills and if necessary the entire mortgage upon death.


The mortgage broker was quite insistent that 'crtical illness cover' was a 'must' in my job, irrespective of my pension contributions - and should be provided by the company providing the Endowment product.


Being young and naive, we thought it sounded convincing and paid for cover (just me for illness)
We have no idea how much extra we paid on top of the endowment - we have all of the paperwork relating to this and there is no breakdown of cost!


It transpires that I was injured at work and had to be medically retired - 12 years ago. My pension did cover my mortgage and everything else, (as my wife works anyway, contributing to the bills etc.)


I did not claim on the Endowment Policy as my pension carried on paying my monthly salary and continues to do so, so it was forgotten about until recently.


Therefore, our initial reservations were proven correct and the Endowment Policy with critical ilness cover was redundant and has been continually paid (along with the Endowment Fee) for no reason.
I remain retired and so it would not have been valid to claim.


The Endowment matured in January of this year (2017) with the predicted £14,000 shortfall, but we had provision set aside to cover this.


My questions are:


Am I entitled to make a claim for being mis sold the product?


Who do I make the claim against? (the Broker, the Building Society or the Endowment Company)


We feel we were mis-sold the PPi as it would have been pretty obvious to the Broker and the Endowment Company at the time, that my Pension Scheme is held within high regard as being safe and would pay out in the correct circumstances.


The broker was used on the advice of my Union (Federation) and the main advisor whom signed us up was a retired employee of the organization I was employed by - so knew the ins and outs in detail of my pension scheme.


The other issues are that the Endowment Company has changed names and addresses over the years, being taken over.


The Financial Management company (broker) has ceased trading.


And we switched mortgage lenders during the term - which was paid off before the 25 year term.


Do we have a claim? and would this affect any potential claim?


Apologies if someone has inquired into this subject previously.

antrobus

4N4LOG wrote: »

...
My questions are:
Am I entitled to make a claim for being mis sold the product?

Of course. You can complain about anything.

4N4LOG wrote: »

...
Who do I make the claim against? (the Broker, the Building Society or the Endowment Company)..

The broker.

4N4LOG wrote: »

.....We feel we were mis-sold the PPi as it would have been pretty obvious to the Broker and the Endowment Company at the time, that my Pension Scheme is held within high regard as being safe and would pay out in the correct circumstances...

What PPI? You were sold an endowment policy with (presumably) critical illness cover. That is not PPI.

An endowment policy is a life assurance contract. Normally a claim only arises if you die. Or are (possibly) diagnosed with a critical illness.

dunstonh

The mortgage broker was quite insistent that 'crtical illness cover' was a 'must' in my job, irrespective of my pension contributions - and should be provided by the company providing the Endowment product.

That seems reasonable as CIC has no overlap with the things you already have. No issues there then.

Being young and naive, we thought it sounded convincing and paid for cover (just me for illness)
We have no idea how much extra we paid on top of the endowment - we have all of the paperwork relating to this and there is no breakdown of cost!

Clearly you do not have all the paperwork as CIC would have had a quote issued at point of sale. Followed by another copy issues with the cancellation rights and finally the policy document would have had the amount too.

Am I entitled to make a claim for being mis sold the product?

Yes. You dont appear to have any decent reasons but the real problem is that you are looking at a sale that was made long before mortgage brokers were regulated. So, they do not have to consider your complaint. This assumes that a mortgage broker from that period is still in business today.

Who do I make the claim against? (the Broker, the Building Society or the Endowment Company)

The broker.

We feel we were mis-sold the PPi as it would have been pretty obvious to the Broker and the Endowment Company at the time, that my Pension Scheme is held within high regard as being safe and would pay out in the correct circumstances.

That is not a valid complaint reason. A pension has no overlap with CIC. A complaint on that basis (if it was post regulation sale) would be easily rejected. Plus, apart from this line, you have made no mention of PPI. What has PPI got to do with it?

The other issues are that the Endowment Company has changed names and addresses over the years, being taken over.

It has nothing to do with them. So, not an issue.

Do we have a claim? and would this affect any potential claim?

Nothing you have said suggests any wrongdoing.
It is well before regulation

platham3574

Hi,

I was disheartened with a claim that didn't come off with the ombudsman recently as it fell under PLEVIN and was a complex case, basically they sided with the lender which I wasn't happy with so I have been putting off trying anything else. I have had loads of credit over the years, barclaycard egg etc and think I need to try and write to these places to get some copies of agreements. I started by getting my credit report through the MSE page tonight, but it doesn't hold any account information. I did find the following closed accounts though, So I thought I would start with them.

Barclaycard
Black Horse Honda Finance Natwest Credit Card Nationwide Visa Hyundai Capital UK V12 Personal Finance

dunstonh

I was disheartened with a claim that didn't come off with the ombudsman recently as it fell under PLEVIN and was a complex case

Technically, every rejected complaint is subject to Plevin.

and think I need to try and write to these places to get some copies of agreements.

You dont need agreements to make your complaint.