PPI FAQs discussion thread

heleno_3

Hi
I had a loan with the Halifax were I was sold payment protection insurance. The insurance was added to the loan in a lump sum and my monthly repayments went firstly towards paying off the insurance before paying off the balance of the loan. I didn't realise this untill some time later when I called to get a balance on the loan and discovered after a year or so of payments I had actually only repaid about £50 of the loan as all payments were paying the insurance off first. Does this count as mis selling? I have no paperwork anymore would the first step to be to get a copy of the loan agreement from the Halifax?
Thanks

helenwales

Hi , after reading all these posts for ages . think its about time i did something myself . I had a phone call last week off a company telling me id had mortgage PPI thats was taken out in 2005 and ran until 2010 .. It was a one off payment added to a remortage done in 2005 , It was done via another company not the mortage lender . The woman on the phone told me id be able to claim all of it back .. I hunted through the Cupbaord and found a letter dating back to when it was advised it was about to expire so i have the policy number on the letter .. What do you think my chances are of getting it back ?

Also feel like im banging my head against a wall with Santander , The last loan we had with them joint was back in 2006 . I singed up with Noddle last night and it gave me details of that Loan which was considerably higher than i remember taking out & can't remember if it had PPI or not . If all prevoius loans came out of the same bank account can they not trace them all back with an account number rather than a loan number ?

I think thats all for now , if anything else comes to me ill post again
:):):)

Laceyjj82

I am still paying off a student load (from student loan company) from 2002. Is it possible I would have been paying PPI.

-taff

you don't pay PPI on student loans.

kaylf

My partner and i had PPI on our first Mortgage, it was sold by the estate agent mortgage advisor. i have looked at the terms and conditions and it was that you are eligable for insurance if at the start of the term you have been in employment for 6 months prior to the start. Both my partner and i had been in our current employment for only 4 months, my partner a student prior to that and i had moved employment with a 3 week gap between does this mean the insurance was miss-sold?
Also i think that all the letters that came in from the company were only in his name but we were both on the mortgage.

dunstonh

kaylf wrote: »

My partner and i had PPI on our first Mortgage, it was sold by the estate agent mortgage advisor. i have looked at the terms and conditions and it was that you are eligable for insurance if at the start of the term you have been in employment for 6 months prior to the start. Both my partner and i had been in our current employment for only 4 months, my partner a student prior to that and i had moved employment with a 3 week gap between does this mean the insurance was miss-sold?
Also i think that all the letters that came in from the company were only in his name but we were both on the mortgage.

It does not make it mis-sold. You need 6 months before cover starts in unemployment. So, you would have had to wait 2 months (4 months existing plus 2 to follow on).

MPPI is standalone from the mortgage and is often set up individually to ensure maximum cover. Indeed, best advice would be to have two individual plans.

Picalo

I recently recieved a cheque from the Halifax for a MPPI policy between 1993 and 1998 even though i didnt even put a claim in!

I had another policy b4 that from 1989 to 1993,I phoned to put a claim in on that policy but was unprepared for the questions and had really poor communication with the peron on the other end. I recieved a rejection letter from the bank just this week.

I have 2 questions really.
1st. Does anyone know why the halifax would just refund 1 policy without a claim yet deny the other.
2nd Should i try contacting the the claim department again to amend the claim stating the said communication problem,or go straight to the ombusman?

JH1970

I keep getting phone calls from companys wanting to claim back PPI for me from loans and my credit card. I haven't knowingly taken out PPI on loans or my credit card but they claim the loan or credit card companys have it added on without my consent. Is this correct before I go on with putting in a claim?

dunstonh

JH1970 wrote: »

I keep getting phone calls from companys wanting to claim back PPI for me from loans and my credit card. I haven't knowingly taken out PPI on loans or my credit card but they claim the loan or credit card companys have it added on without my consent. Is this correct before I go on with putting in a claim?

Did they add it without your consent?

I am an IFA and I get weekly cold calls or texts from claims companies telling me I have been mis-sold. I cant be mis-sold as an IFA but they still say I can. I have been told it is hidden away and all sorts of rubbish but it hasnt been.

These cold calling scum bags are on a commission to get people to sign up. That is banks and other financial firms are reporting that at least half the complaints they get are fraudulent. (half dont even have PPI yet they make allegations of wrongdoing).

Emerald05

I have a loan that I didn't pay of fully. This is now a CCJ.
I understand that if I claim PPI that any monies owed to me will be offset against what I owe.
I had two previous loans with the same bank that I paid fully settled.
If I am successful with my PPI claims on the settled loans ,will this also be offset against the unpaid loan? or will each loan be treated separately?