PPI FAQs discussion thread

XXSCOTSLASSXX

after a bit of advise.... a previous mortgage i had was through a broker who is now in default.. claim currently with FSCS for income protection policy that was mis sold with this mortgage have all the paperwork etc quite straight forward just broker in default....

anyway have been getting calls from some Financial Claims Office re what they say was 7k of ppi front loaded onto this same mortgage they have the mortgage amount... dates... etc and what they say is information from the 'Board of Insurance Lenders' that is 100% proof a 7k insurance policy was sold to mortgage provider in regards to my mortgage..... is this all just waffle???

I actually contacted the mortgage provider re this a few months ago and was advised the complaint is with the no longer trading broker... however person i spoke to stated there was no ppi/mpi on the mortgage. this claims guy says thats standard response hoping i would just go away but he has proof a policy was sold re my mortgage which is why he is calling..... they operate a no win no fee blah blah blah no upfront fees of any kind .... am tempted just to let them go ahead... I have no paper work showing any ppi/mpi and no way of obtaining any as mortgage company will not play ball as broker is in default.... there are clauses in my actual mortgage paperwork that do relate to insurance, however no figures are given ??? any thoughts??

dunstonh

anyway have been getting calls from some Financial Claims Office re what they say was 7k of ppi front loaded onto this same mortgage they have the mortgage amount... dates... etc and what they say is information from the 'Board of Insurance Lenders' that is 100% proof a 7k insurance policy was sold to mortgage provider in regards to my mortgage..... is this all just waffle???

There is no data like that in the public domain and no Board of insurance lenders.

I actually contacted the mortgage provider re this a few months ago and was advised the complaint is with the no longer trading broker... however person i spoke to stated there was no ppi/mpi on the mortgage.

The lender wouldnt know as they didnt arrange it. All they know is that you did nothing with them.

this claims guy says thats standard response hoping i would just go away but he has proof a policy was sold re my mortgage which is why he is calling.

He has just admitted to breaching the data protection act.

am tempted just to let them go ahead.

You said the broker is no longer trading. So, who are they going to complain to?

I have no paper work showing any ppi/mpi and no way of obtaining any as mortgage company will not play ball as broker is in default.... there are clauses in my actual mortgage paperwork that do relate to insurance, however no figures are given ??? any thoughts??

So, in all, it looks like you dont have it. The banks are reporting that up to half the PPI complaints they get from claims companies do not have PPI. I had a cold call in the week from a claims company trying to scam me to put in a complaint. This is what they do.

MPPI should be set up and paid monthly. So, if it doesnt appear on your bank statement each month then you are not paying it that way. A small minority of cases were set up with single premium and were front loaded. These are still not hidden because a) you get a policy schedule, b) they only last typically for 5 years and at the end of 5 years you get told it is expiring and asking you to pay more if you want it to continue and c) (most obvious) is that your mortgage amount borrowed is increased by the amount of the PPI.

So, lets say you borrowed £100k. Your mortgage offer letter would say something like £107,235 was the amount being borrowed. If the amount borrowed matches what you asked for then you didnt pay single premium PPI.

indebtandneedhelp!

firstly sorry if this has been covered elsewhere, I did a check and couldn't find anything

I had a loan with sainsburys bank, which I took out in 2004, this had PPI on it, I defaulted on the loan and I am now paying a CCJ. I know it was taken out over 6 years ago but is is still "active" albeit with the court and not the company. I also understand IF I can claim any money back it would go off the CCJ and not directly to me (which would be a big help)

anyone experienced anything like this before??

thanks in advance

SumJS

Can anyone advise me if Retail Payment Protection is the same as PPI??

caz2010_2

my husbands bank said although he did not opt for PPI it was actually added but he had chances every month to cancel it when he saw it on his monthly statement so they said They wont refund the PPI. The account is now closed. What can he do

Lola_And_pippa

About 8 years ago I took out a loan with mbna in which PPI was added to the loan. Over the phone when I was sold the loan they advised me to get PPI. I agreed to have the PPI added at the time of the phone conversation...the person spoke very fast I didn't get half of what they were saying so I agreed. When my paperwork came through I decided I didn't want it so didn't tick the box when the contract was sent back. The PPI was added onto my account. A few years later I tried to claim it back but they said I wasn't miss sold because of the phone conversation. I then cancelled the PPI policy and took one out with an independent PPI company for a lot less. I still don't think I needed this one I get paid sick pay for a year anyway if I'm ill. Am I able to reclaim this PPI back or am I not eligible? I am still paying off the loan with no PPI on it. Also I have a capital one card which has PPI that I have tried to cancel twice but they have talked me out of it I have now just stopped using the card so I do not get PPI charges, can I reclaim this?
I had a no win no fee company contact me and I want to know if it's worth perusing this myself or going with this company if they will be more successful.

Thank you for your help

wortho_2

Good evening
Just wondering if anyone else has a similar situation to mine.
I have settled on a number of account, unfortunatley I seldomly retain the account information and therefore do not know if I actually paid PPI.
Will the lenders declare this information if I request it? If so can you point me in the right direction for template letters please.
Thanks all

RICKY_C_2

Hi dont know if you can help but I took out a loan in 2005 to 2010 with Reg Vardy and on there advice took out PPI as they said it would stand me in good stead to get the car loan also I was getting full pay if I was ill or sick, I sent off the PPI consumner questionnaire and Pendragon have sent a reply stating that because the event was more than six years ago and in accordance with DISP 1.8.1 R the complaint is time barred also they said under the terms of the complaints procedure and in accordance with DISP 1.6.2.R this was there final responce and further more in accordance with DISP 2.8.2.R i will not be able to refer this to Financial Ombudsman.
Firstly I do not know what all these abreviations are and secondly are they right can I not take this any further??
Hope you can help.

Ricky C

JasonT76

I have had two seperate PPI accounts over the past 10 years or more but i don't remember the details or even the dates that they began. I remember that i was advised by the banks to remove them in order to save money and was told at the time that i didnt really need them! Again, i can't remember when that was although i do know it was in the past 3-4 years.
One thing for sure is that i definately have had one PPI on a credit card and another for overdraft protection. With very little information or any paperwork whatsoever, is it still possible for me to make any kind of claim?
And if so, how do i go about it?
Many thanks
J

[Deleted User]

JasonT76 wrote: »

One thing for sure is that i definately have had one PPI on a credit card and another for overdraft protection. With very little information or any paperwork whatsoever, is it still possible for me to make any kind of claim?

You need to send a Subject Access Request (SAR) letter

https://forums.moneysavingexpert.com/discussion/1475553

It costs £10 for each lender and they have 40 days to respond.
Then go to these advice articles and follow the simple steps:
http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance