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PPI FAQs discussion thread
Comments
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Can I get the monthly interest the bank charged on the PPI portion of my credit card statement refunded along with the PPI?0
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Can I get the monthly interest the bank charged on the PPI portion of my credit card statement refunded along with the PPI?
If they agree you were miss-sold you get the premium back + 8% interest on that. Your PPI premium was typically around 80p per £100 of debt - the interest charged would be minuscule - if you had £100 of debt on a 29.9% APR card you would have paid £29.90 interest - add 80p premium takes you to £30.14 or 24p of interest from PPI - refund of 8% would be 2p!Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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My husband is a serving police officer with the Met. We recently discovered that police officers shouldn't have been sold PPI due to the fact that their sick leave is fully paid for 6 months, and individuals have a choice to extend this to one year by purchasing an insurance police through the Met (which my husband has done). We've successfully claimed back PPI for a loan and one credit card. However, we've received a letter from Halifax (credit card) advising that as new legislation is being considered, they won't be in a position to consider my husband's claim for another year. Does anyone know anything about this? Thanks for any help you may be able to offer.0
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The company is Paymentshield on behalf of Aviva Insurance Limited and
DAS Legal Expenses.
The mortgage lender was Halifax.
I went through a firm to try and reclaim this PPI but Halifax said there was no record of this transaction.
It states Halifax on the policy when it was started.
We changed mortgage lender but continued to pay this policy until Dec10/Jan11 approx. when I cancelled it after being finished from a job of 20+ years for a health and safety situation, and was informed by the insurance that I was not covered for this eventuality.
The policy start date was 30/09/2002.
I have given you what facts I have and am asking if I should take this matter to the ombudsman.
The policy start date was 30/09/2002.0 -
trish_caveney wrote: »The company is Paymentshield on behalf of Aviva Insurance Limited and
DAS Legal Expenses.
The mortgage lender was Halifax.
I went through a firm to try and reclaim this PPI but Halifax said there was no record of this transaction.
It states Halifax on the policy when it was started.
We changed mortgage lender but continued to pay this policy until Dec10/Jan11 approx. when I cancelled it after being finished from a job of 20+ years for a health and safety situation, and was informed by the insurance that I was not covered for this eventuality.
The policy start date was 30/09/2002.
I have given you what facts I have and am asking if I should take this matter to the ombudsman.
The policy start date was 30/09/2002.
Your PPi claims company has shown their true worth. ie. zero. They have wasted your time on this. They should never have submitted the complaint.
Paymentshield means it was done via an adviser/broker. So, sending a complaint to Halifax was a complete waste of time. As would be referring it to the FOS.
Most brokers were not regulated until 14th Jan 2005. yours was Sept 2002. So, its pre-regulation.
So, you have the following issues:
1 - its pre-regulation
2 - Paymentshield is a good company with a strong product and only set up monthly standalone plans.
3 - you dont appear to have any reason to complain (leaving by choice is not covered nor is being sacked. redundancy cover means compulsory redundancy - none of that makes it mis-sold)I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
I have discovered that we paid PPI on our first mortgage to Bristol and West. They were taken over in 2009 by Britannia who has since been taken over by the Cooperative Bank. Who do I claim a refund from?0
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You can't simply "claim a refund".
You have to present a valid complaint that the PPI was somehow mis-sold to you. You complain to whoever sold you the PPI in the first place if you have a valid complaint.0 -
Barclaycard rejected my PPI claim in 2012 and I didn't go to the ombudsman. MSE encouraged me to try again with Barclaycard in July 2015. They rejected the claim in October. Today, I've had a letter saying they've reviewed it again and they were wrong to reject it, offering just under £800. Why have they changed their mind out of the blue? I was about to write to the Ombudsman - the original miss-selling was back in 2008 and the offer (though welcome) is far less than I got for another similar claim from Lombard back in 2012.
Should I still go to the Ombudsman?0 -
Barclaycard rejected my PPI claim in 2012 and I didn't go to the ombudsman. MSE encouraged me to try again with Barclaycard in July 2015. They rejected the claim in October. Today, I've had a letter saying they've reviewed it again and they were wrong to reject it, offering just under £800. Why have they changed their mind out of the blue? I was about to write to the Ombudsman - the original miss-selling was back in 2008 and the offer (though welcome) is far less than I got for another similar claim from Lombard back in 2012.
Should I still go to the Ombudsman?
Your first issue was not referring to the FOS in 6 months so they can time-bar you.
It's a bonus they have reviewed it - it may be a commercial decision, maybe they spotted errors in the working of an employee, who knows.
Unless you can prove you were owed more I'd just accept the money as an unexpected bonus (if you can I'd have a chat with them or see what they put in writing) - referring to the FOS would be pointless as the bank have agreed you were miss-sold and paid outSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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PPI redress is simply a full refund of the PPI you actually paid (plus interest), so there is no point comparing the amount involved with a "similar" complaint from a different provider.
If you have evidence that you paid more than the Bank is offering, then you should present this evidence to the Bank in the first instance and only later to the Ombudsman.
If you have no such evidence, then the Ombudsman won't award any more than the Bank's records show you paid.0
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