PPI FAQs discussion thread

Eddiec

How about Mortgage PPI taken out with an insurance company (Royal and Sun Alliance - now First Assist) rather than a bank?

Do they count as miss-sold when it was taken out at the same time I filled in the mortgage forms for the initial mortgage?? All in the back office of an estate agents with a 'mortgage advisor'?

I've been paying this for 12 years, and not sure what to do as every claim mentions banks, but not insurance firms.

dunstonh

How about Mortgage PPI taken out with an insurance company (Royal and Sun Alliance - now First Assist) rather than a bank?

Same rules apply. Just different liability for the advice given.

Do they count as miss-sold when it was taken out at the same time I filled in the mortgage forms for the initial mortgage?? All in the back office of an estate agents with a 'mortgage advisor'?

No. That would not be a mis-sale reason.

I've been paying this for 12 years, and not sure what to do as every claim mentions banks, but not insurance firms.

Most mortgage advisers/brokers only became regulated in 2005. So, odds are you cant complain as your transaction was before that. However, your complaint reason is not valid anyway. So, you dont have much to go on this one.

montoya_234

I was sold PPI with a large bank loan. I actually wanted to borrow a smaller amount than I finally borrowed. I was persuaded to consolidate my other debts with a larger loan but was told they could not let me have this amount without PPI. It made the cost of the loan so high that after some time I had to cancel the PPI, and in the end had to file for bankrupcy.
As a discharged bankrupt can I reclaim the PPI or would this just go towards repaying the bank loan.

dunstonh

As a discharged bankrupt can I reclaim the PPI or would this just go towards repaying the bank loan.

If your complaint succeeds, the funds will go to your creditors via the OR. You dont get the money.

rsoles

S_G wrote: »

Hi can anyone please help me, I have an MBNA card which I have not used for over three years now and the balance is zero. I went onto experian to see my report and noticed that it showed I am in arrers with MBNA, when I queried this with them they said that it's for PPI and that I needed to contact CPP as I have to take it up with them as they are a third party supplier. I do not want this, and do not need it, can anyone advise where I stand please? Do I have to pay this charge?

CPP don't do PPI. It could be for credit card protection insurance. If it is, contact CPP and ask them for who sold it to you. If MBNA did and you are disputing the sale you need to contact MBNA. If CPP sold it you then you pick it up with them. If your MBNA card was taken out in a shop or in a shopping centre you are stuffed as there will have the box to tick or untick to say that you didn't want it.

you need to let us know how much you allegedly owe - if it's below £100 it'll be a CPP policy. if it' above it's PPI and not CPP so it's back to mbna again

Serge

A friend agreed to let a company reclaim PPI about six months ago.
Since then they have not made any contact and when telephoned they just say it's 'in progress'.
Can I make my own claim now or am I stuck with this company?

[Deleted User]

Serge wrote: »

Can I make my own claim now or am I stuck with this company?

Once you signed a contract with them, you gave them permission to act on your behalf. Unless you can cancel the contract (unlikely), any redress you subsequently win will be subject to a Claims Company fee of up to 30% plus VAT.

Serge

Moneyineptitude wrote: »

Once you signed a contract with them, you gave them permission to act on your behalf. Unless you can cancel the contract (unlikely), any redress you subsequently win will be subject to a Claims Company fee of up to 30% plus VAT.

Thanks for your prompt reply, I thought that might be the case.
I wonder if anyone has had any luck cancelling a contract?
From what I can see they may have already been paid out and are hanging on to the money, gaining the interest and perhaps waiting for an opportune time to go into liquidation, taking everyones PPI refunds with them! :mad:

Betsy1984

I have also agreed for a claims company to reclaim my ppi on my behalf but I now wish I'd done it myself! I thought it'd be a really complicated and time consuming process!
I am using a company called simplicity claims for ppi sold on a loan I had 9 years ago with lloyds. Their fee is 20% + vat, can't believe how stupid I've been!

Border_Reiver

I have recently sent off letters for details of old accounts which are now closed, using Martin's template. However, I've had replies from both Sainsbury's Bank (credit card) and Halifax (credit card) saying that Section 78 of CCA doesn't apply as the account is not live and therefore there is no longer a regulated agreement. They have refused to give me any account information, and in addition Sainsbury's have said that they can't track down my account number from my name and address ! Bet they could if I owed them money !!

Can anyone offer advice?