PPI FAQs discussion thread

misslovealot

Just a quick note to say that I decided to claim for PPI by myself. I gave my bank a couple of pieces of info regarding previous loans, then I got 9 individual letters with different account numbers on. They said they had started investigating. 3 weeks later, (2 days ago), I received nine separate offers totalling £13, 124!!...I am of course accepting. I have also just finished and posted another letter with regard to my credit card and PPI. It was well worth doing this on my own.....:D

Leodogger

Until I was contacted today by one of these PPI companies offering to find any PPI I was owed, I was unsure how to go about finding out if I had any.

I have now gone through my mortgage with Nationwide and notice that MPPI is mentioned in the last page of the mortgage offer.

I did ask the company who rang me how I know if I have had any PPI sold me without me knowing and they said it was buried in many cases in the interest payments without people knowing about it.

Is there any PPI been claimed by anyone with Nationwide on their mortgage ?

aidanboyle

I have no information (and cannot remember the name) of a credit card I once had. It was passed on to a debt collection agency after falling into arrears but it has now been settled in full. Will the debt collection company supply me with the name and details of the credit card?

magpiecottage

JWhite wrote: »

I have now gone through my mortgage with Nationwide and notice that MPPI is mentioned in the last page of the mortgage offer.

I did ask the company who rang me how I know if I have had any PPI sold me without me knowing and they said it was buried in many cases in the interest payments without people knowing about it.

Mortgage offers have, for the last 7½ years, been in a standard format and usually any cover is a standalone policy with its own direct debit each month. In those circumstances it is hard to persuade somebody like me that you did not know about it.

You would also have to persuade me that it was unsuitable for you - and since you stood to lose your home if you lost your income, that too is difficult.

Leodogger

magpiecottage wrote: »

Mortgage offers have, for the last 7½ years, been in a standard format and usually any cover is a standalone policy with its own direct debit each month. In those circumstances it is hard to persuade somebody like me that you did not know about it.

You would also have to persuade me that it was unsuitable for you - and since you stood to lose your home if you lost your income, that too is difficult.

Actually this mortgage was taken out in 2001 and there is definitely information on the back page about payments for MPPI. As I said I asked a PPI Reclaim Co. how they could have sold us PPI without us knowing about it and they said, in many cases it was embedded in the interest rates and not separately charged for which is why the FSA said it was illegal and they had to pay the money back to people.

Leodogger

magpiecottage wrote: »

Mortgage offers have, for the last 7½ years, been in a standard format and usually any cover is a standalone policy with its own direct debit each month. In those circumstances it is hard to persuade somebody like me that you did not know about it.

You would also have to persuade me that it was unsuitable for you - and since you stood to lose your home if you lost your income, that too is difficult.

By the way it was not offered as a separate policy but the payments were actually stated in the detail £19.32 per month !:)

Champions54

Good morning all,

I posted last week delighted to inform that I recieved just over £10,000 for PPI I had on loans with the RBS (never knew PPI was on the loans) I have now received another 5 letters from the bank referring to loans from 1992 to 1996, where they say "unfortunately due to passage of time and limited information available to us, we can find no evidence that when you applied for your loan that PPI was included". They then go on to say that they are only required to keep records of accounts for a minimum of 6 years, and as the loans fall within this time they have no details. I don't wish to appear greedy, but PPI was on 9 loans that I didn't know about then it could be on these loans too. Any advise should I send these letters off to the Ombudsman ? I have no paper work. Thanks for any advise. J

dunstonh

Actually this mortgage was taken out in 2001 and there is definitely information on the back page about payments for MPPI.

The standardisation didnt start until 2004. So, its possible it would be included on various bits of documentation prior to that as a firm could largely put what it liked.

how they could have sold us PPI without us knowing about it

Not possible. You would know about it.

they said, in many cases it was embedded in the interest rates and not separately charged for

No. That has never happened. That is a claims company lie.

which is why the FSA said it was illegal and they had to pay the money back to people.

The FSA have said no such thing. There is nothing illlegal about FSA. Again, that is a lie told by dodgy claims companies.

Where are you getting your information from as it is really duff?

By the way it was not offered as a separate policy but the payments were actually stated in the detail £19.32 per month !

That means it was separate. However, some lenders did collect it with the mortgage payment but most were direct debit by itself. The dodgy ones are where they take a single premium and increase your debt to cover say 5 years worth of premiums in one go. Yours clearly shows monthly premium. So, set up correctly.

Leodogger

dunstonh wrote: »

The standardisation didnt start until 2004. So, its possible it would be included on various bits of documentation prior to that as a firm could largely put what it liked.



Not possible. You would know about it.



No. That has never happened. That is a claims company lie.


The FSA have said no such thing. There is nothing illlegal about FSA. Again, that is a lie told by dodgy claims companies.

Where are you getting your information from as it is really duff?



That means it was separate. However, some lenders did collect it with the mortgage payment but most were direct debit by itself. The dodgy ones are where they take a single premium and increase your debt to cover say 5 years worth of premiums in one go. Yours clearly shows monthly premium. So, set up correctly.

Which means I can claim it back - right ?;)

dunstonh

JWhite wrote: »

Which means I can claim it back - right ?;)

It wouldnt say that. However, the reasons you have given so far as not valid complaint reasons. If you quote those on a complaint you will get a more wordy version of what I have said back along with a rejection. If you have actual valid reasons for complaint and can prove them or the evidence points towards that then you are more likely to succeed in a complaint.