PPI FAQs discussion thread

yvreynolds

Back in 2010 I tried to reclaim back PPI I had on a loan that was with the RBS. They said no. I left this then after a few months of hearing of other peoples stories about getting theirs back I decided to write to the ombusman. They wouldn't even entertain me as they said 6 months had lapsed between my no from RBS and writing to them. Is there anything else I can do? Can i try again?

dunstonh

yvreynolds wrote: »

Back in 2010 I tried to reclaim back PPI I had on a loan that was with the RBS. They said no. I left this then after a few months of hearing of other peoples stories about getting theirs back I decided to write to the ombusman. They wouldn't even entertain me as they said 6 months had lapsed between my no from RBS and writing to them. Is there anything else I can do? Can i try again?

No. You only get one bite of the cherry. You were rejected and you didnt appeal in time. So, game over I'm afraid.

CLB

Hi, i was just looking for some advice.

I have all the paperwork here and the letter i recieved with my loan agreement states that 'to go ahead with the loan, follow the guide below:

• check details of agreement and contact us if any questions
• sign and date copy of agreement
• tick box indicating that you wish to purchase ppi and sign again next to the box
• sign direct debit form'
• etc.

When i read this it made me think that i needed to sign and tick this in order to go ahead with my loan. although i have just recently read my terms and conditions (i didnt do this at the time) and it does say in them that i dont need to take ppi to take out the loan.

Do you think i have a reclaim case based on the letter sent or did i just read the letter wrongly?

thanks in advance

dunstonh

CLB wrote: »

Hi, i was just looking for some advice.

I have all the paperwork here and the letter i recieved with my loan agreement states that 'to go ahead with the loan, follow the guide below:

• check details of agreement and contact us if any questions
• sign and date copy of agreement
• tick box indicating that you wish to purchase ppi and sign again next to the box
• sign direct debit form'
• etc.

When i read this it made me think that i needed to sign and tick this in order to go ahead with my loan. although i have just recently read my terms and conditions (i didnt do this at the time) and it does say in them that i dont need to take ppi to take out the loan.

Do you think i have a reclaim case based on the letter sent or did i just read the letter wrongly?

thanks in advance

Nothing suggests any wrong doing by the company. You would be reliant on their goodwill.

Gaynor_M

Hi All,

Can anyone advise where to obtain credit information that is older than 6 years old as my lender is stating they can not locate my account. Help as I am trying to reclaim my PPI

Linda_Mattacks

Hi there:

Can PPI lurk or only be absolutely obviously in your face (if you know where to look and have the relevant documentation)?

I've read the FAQs and, I think, virtually all of the information on PPIs on this site to date yet I'm still a bit iffy about this point.

My partner recently received a telephone call from a company offering to reclaim PPI on our behalf.

It was different the norm in that to start with, it wasn't pre-recorded but an actual human being... and the guy came across to my partner pretty convincingly as knowing what he was talking about with regard to the market, the players, their strategies and so on, and wasn't at all pushy about signing up with his company (we haven't).

I've checked the paperwork - the Fixed Sum Legal Agreement which shows that there is £0.00 shown in each case where the heading "Payment Protection Loan" appears. Yet this guy asked pertinent questions and said there was a very reasonable chance that we were paying PPI without knowing it: something about the fact that might be on a separate document that is not in our possession.

However, reading through the threads here I see that 'Mega Magnificent Maxi-Meticulous Uber-MoneySaving Magnate' :cool: says in response to an earlier question:

"PPI cannot be hidden. It will be on the application, agreement and statements."

And to another, where there was a chance that what was thought was interest could actually be an element of PPI included:

"Its a frequent lie the dodgy claims companies sales reps give (who are paid to get people to sign up to their service)."
Whilst MMM-MU-MSM seems to be extremely knowledgeable - and helpful on this site - I don't 'buy' that reps would last long signing up no-hoper clients for their employers who only get paid by results: The logic doesn't add up, does it?

So, back to the case of my partner and me (which I suspect could/ would apply to others):
1) Does expert opinion mean that it is impossible for PPI to have been attached to the loan without our knowledge or agreement? Or could it indeed be hidden... maybe within the Main Loan repayments?

2) If the expert opinion is the former: What have we to lose by sanctioning the claims company to act on our behalf, whilst not holding our breath ;-) ?

Thanks in anticipation of response

PS: Lovely, easy site to contribute to once you go through the ID and acceptance!

dunstonh

Can PPI lurk or only be absolutely obviously in your face (if you know where to look and have the relevant documentation)?

It cant be hidden. It is often ignored or missed by people who dont check their statements or read what they are signing but it will appear on documentation.

I don't 'buy' that reps would last long signing up no-hoper clients for their employers who only get paid by results: The logic doesn't add up, does it?

reps being paid to get people signed up makes perfect sense. Why do you think that half of PPI complaints made by claims companies dont even have PPI?

1) Does expert opinion mean that it is impossible for PPI to have been attached to the loan without our knowledge or agreement? Or could it indeed be hidden... maybe within the Main Loan repayments?

With a loan it has to appear on the agreement. If you agreed to it post application but before the money was advanced then a new agreement is required. Credit card PPI can be added without a new agreement but then it appears on each monthly statement when you dont clear the debt. So, not hidden.

2) If the expert opinion is the former: What have we to lose by sanctioning the claims company to act on our behalf, whilst not holding our breath ;-) ?

It is your own morals that you need to decide the answer on that one. Do you put in a fraudulent complaint and waste time or save everyone a lot of time and effort.

[Deleted User]

Linda_Mattacks wrote: »

I don't 'buy' that reps would last long signing up no-hoper clients for their employers who only get paid by results: The logic doesn't add up, does it?

It obviously pays them to sign up as many people as possible regardless of whether they actually have PPI. If they only signed "quality" punters then they'd miss out on people who have may have simply forgotten they have had PPI and the ones who might not be so easily persuaded of the comparative ease with which PPI can be re-claimed.

Linda_Mattacks wrote: »

What have we to lose by sanctioning the claims company to act on our behalf, whilst not holding our breath ;-) ?

You have nothing to lose and nothing to win if you never had PPI.

latin105fm

Claiming back PPI if I defaulted on payments?

Hi there, I'm hoping that someone is able to enlighten me with an answer to the following question:

Around 10 years ago, I got myself into some financial trouble and accumulated a substantial debt of around £80k in credit cards and consolidation loans. I luckily never got any CCJ's and the debts were passed to debt collecting companies.

I have since agreed a settlement figure with ALL of them and all closed. 99% of them have now fallen off my credit score too.

My question is because some of these settlements were not paid the full balance outstanding because a "Settlement figures" was agreed, does this in anyway not entitle me to a refund on the monies I did pay? I also don't want to open a can of worms by going down this road......

Thanks in advance.

Dan

dunstonh

My question is because some of these settlements were not paid the full balance outstanding because a "Settlement figures" was agreed, does this in anyway not entitle me to a refund on the monies I did pay? I also don't want to open a can of worms by going down this road......

Lenders are allowed to use any redress payment against debts written off, defaults and arrears but only against their own debt. Not those of others (unless it is bankruptcy)

e.g. you defaulted with £10k and the lender accepted £5k as settlement. If the redress payment on PPI is £3k then you would not see it. However, if the redress was £75 then they can put £5k against the amount written off but then pay you the surplus.