PPI FAQs discussion thread

yanto48

hi i took out a mortgage 16 years ogo, is this to late to claim? the ppi i had was a condition of the mortgage with the same bank no mortgage protection no mortgage did no have a choice, is this a valid condition of a claim?

lainey.clements

Hi,
In 2006 we were sold a ppi on a loan although my husband was self employed and not working in full-time employment.
in 2009, due to my health, my husband had to become my full time carer. We still had payments on the loan and the ppi made a few payments then stopped, we are still paying of the original loan through the CCCS.
I think we were mis-sold the ppi as my husband was self-employed at the time of getting the loan and the ppi doesn't cover self-employment.
Were we mis-sold the ppi?
Would it be classed as 'mis-sold' as they paid out a few hundred pounds towards our loan?
We are in a lot of debt at the moment and think the ppi should have covered the whole loan or we should be able to claim back ppi.
any advice would be appreciated,
Thank you

dunstonh

i took out a mortgage 16 years ogo, is this to late to claim?

You can complain but mortgage PPI typically needs much stronger reasons than other types of PPI as most cases are set up correctly and mortgages are a significant debt with consequences for non payment.

the ppi i had was a condition of the mortgage with the same bank no mortgage protection no mortgage did no have a choice, is this a valid condition of a claim?

If it was a condition (and many deals in the 90s did require an insurance purchase to get the deal) Then it is not a mis-sale. Lenders are allowed to insist on insurance. However, if it wasn't a requirement and you were told it want then that is a lie and is a mis-sale. It is thought the weakest complaint going as you almost certainly have no evidence to support that allegation and they almost certainly wont. So, if that is the only reason then you would expect a rejection.

dunstonh

I think we were mis-sold the ppi as my husband was self-employed at the time of getting the loan and the ppi doesn't cover self-employment.

Most PPI does cover the self employed. A significant minority does not. So, if it doesnt cover self employed that is a good complaint reason. If you are just guessing it doesnt but it does then it is not a good complaint reason.

Would it be classed as 'mis-sold' as they paid out a few hundred pounds towards our loan?
We are in a lot of debt at the moment and think the ppi should have covered the whole loan or we should be able to claim back ppi.

What do you mean they paid out a few hundred pounds? Are you saying you made a claim on the policy and they paid out?

Shepherd1

Hi wondering if anyone can help me I took out a loan with paragon in 2001 with ppi, i got into some difficulty in 2005 so built up arrears. In 2009 they offered me a full and final settlement which i accepted and paid. Can i reclaim ppi or would this just go towards the arrears i had.

thank you

jdwmfc

Shepherd1 wrote: »

Hi wondering if anyone can help me I took out a loan with paragon in 2001 with ppi, i got into some difficulty in 2005 so built up arrears. In 2009 they offered me a full and final settlement which i accepted and paid. Can i reclaim ppi or would this just go towards the arrears i had.

thank you

You can claim if you were mis sold however any money would go towards the arrears and you would get what was left. DO not use a claims company as if you do they will still want their 25% of the whole amount before the arrears had been paid off.

FluffyDuck

Hi, I have just received a letter back from Benifcal bank regarding Payment offer. The loan i complained about has still got a balance. The bank have included this into the refund and have taken the refund of this, reducing my monthly payment. Is it possible to ask the bank for the full PPI Claim back without taking it off the balance i still have with them?

datapro_2

Hi all

Can i still claim PPI if i have already successfully claimed on that policy.
What i mean by that is i havent claimed for the miss selling of the policy i have actually fully claimed on the original policy when i was made redundant a few years ago.

Can you claim for mis selling when ive already reaped the rewards of what the original policy was meant for?

Thanks in advance

JuicyJesus

FluffyDuck wrote: »

Hi, I have just received a letter back from Benifcal bank regarding Payment offer. The loan i complained about has still got a balance. The bank have included this into the refund and have taken the refund of this, reducing my monthly payment. Is it possible to ask the bank for the full PPI Claim back without taking it off the balance i still have with them?

No, they can set off against current debts. You have technically not paid them the money, so it is not right for them to pay it back to you.

JuicyJesus

datapro wrote: »

Hi all

Can i still claim PPI if i have already successfully claimed on that policy.
What i mean by that is i havent claimed for the miss selling of the policy i have actually fully claimed on the original policy when i was made redundant a few years ago.

Can you claim for mis selling when ive already reaped the rewards of what the original policy was meant for?

Thanks in advance

It makes it a lot less likely to succeed, because a number of reasons for mis-sale do not apply (for example, since you have claimed on the policy, you were clearly not ineligible to do so, and you had a need for it which the policy fulfilled clearly) and even if your complaint is successful they can deduct the amount they paid out on the claim from any redress. This could potentially mean you'd win, but get nothing (technically, you might even owe them money, because you would be arguing that the policy should never have existed and thus they should not have paid your claim).

Why do you think it was mis-sold?