PPI Reclaiming Discussion Part 5

[Deleted User]

eithnemc wrote: »

My advisor has ceased trading. Am I not able to claim against L&G.

No. You can only complain to the seller of the insurance that you were mis-sold, not the provider.

You might only complain to L&G if your advisor was their tied agent. He clearly wasn't.

Plevin is not relevant here, since your "complaint" has not been sent to (or recieved by) the correct recipient.

If this finance was after 2005, you could refer your complaint to FSCS otherwise you have nowhere left to go.

Don't waste your time with Resolver, your E-Mails are clearly not being received (as others have also reported)

dunstonh

My advisor has ceased trading. Am I not able to claim against L&G.

No. If it was sold after 14th Jan 2005, you can refer your complaint to the FSCS. if it was sold before, you have no-one to complain to.

Especially since I found out I was over covered surely this should have been picked up by them.

How would L&G know what cover you have? It has nothing to do with them.

Also were they not paying big bonuses to push their product?

No bonuses are paid to intermediaries. If the person didnt work for L&G, then L&G had no say in what the person was paid.

morganron

it is nice to get that amount back but by agreeing that the excessive commission was paid and paying me some of that back they have not overturned their original mis sold ppi claim. surely by admitting that they should be paying all my ppi payments back as well. would welcome some advice.

[Deleted User]

No, they shouldn't.

Plevin is a separate issue. It doesn't make something not mis sold suddenly become mis sold.

dunstonh

morganron wrote: »

it is nice to get that amount back but by agreeing that the excessive commission was paid and paying me some of that back they have not overturned their original mis sold ppi claim. surely by admitting that they should be paying all my ppi payments back as well. would welcome some advice.

No. That would not be logical.

If your complaint was rejected then it means there was no wrongdoing in respect of the sale. The Plevin issue is a separate one not linked to misselling. The FCA ruled that commission over 50% is excessive and the excess over that should be refunded. i.e the sale was valid but they were paid too much commission and you are getting the excess over what is considered acceptable rebated to you.

Bennachie

We have had several store cards, and credit cards in the past from MBNA, who kept on raising our credit limit without being asked to, NatWest, which I still have, and M and S, as well as our debit cards. We never used any cards except as charge cards, except once when Impaid the wrong card off by mistake, and immediately contacted both companies, whom effected the transfer and made no charge (!). So I am not aware of having ever paid interest or having paid premiums at any time. Am I right in thinking that I have no need Tom bother with PPI?

[Deleted User]

Bennachie wrote: »

Am I right in thinking that I have no need Tom bother with PPI?

Yes, even if you had PPI (you don't say) in these circumstances you won't ever have paid any PPI and so there will be nothing to refund.

PPI on credit cards was only charged when there was an outstanding balance not paid back at bill date.

[Deleted User]

morganron wrote: »

have they have not overturned their original mis sold ppi claim?
surely by admitting that, they should be paying all my ppi payments back as well? would welcome some advice.

You need to understand that your mis-selling complaint failed and that your current refund is for a separate issue regarding commission. By refunding the commission paid they are NOT "admitting" that your PPI was mis-sold; simply that the commission was excessive and was not transparent.

So you won't be receiving any additional refund.

morganron

thanks, just wondered and by the way the cheque came today and to think two weeks ago I was just thinking of applying so if others read this it can be done.

SteveL555

Quick question, and sorry if it's been covered elsewhere; had a good search, but I'm searching on words that appear in hundreds of post!

On a whim I mailed First Direct, a couple of weeks ago, to ask if I'd had PPI on any loans/credit cards I'd had back in the late 90s/early 00s (when I was wracked with debt - and stupid)

First Direct have mailed back saying that I had 6 different personal loans (this will have been between 1997 and 2004), the middle two of which had PPI. And a 'flexiloan' (probably 03/04) that had PPI, and also 3 credit card accounts, one of which had PPI.

First Direct have said "if you wish to register a formal complaint please tell us why you beleive the PPI was mis-sold."

I think it's odd that sometimes I seemingly wanted protection and other times didn't, but I don't recall taking out these specific loans/credit cards - just having various loans as I refinanced my way through my 20s. It's perfectly possible that my mood on protection ebbed and flowed through the years. I know this is 'pre-Plevin'. And I don't have any of the paperwork.

Is the next step asking for the amounts involved and copies of the Ts&Cs? - sending a SAR (that only seems to be useful back 6 years)? Or am I wasting my time?

Oh, and now I think about it, I was made redundant twice in this period when my employers went bust (2000 and 2003) - I'm wondering whether I missed claiming at the time, but that's probably long gone.

many thanks

Steve