PPI FAQs discussion thread

The_enquiring_mind

I have just been refused repayment of Ppi on a credit card held with Capital one, does the fact I was not advised to check out other insurance options and only given an estimate of 69p per £100 as a guide to cost count as a reason for arguing my case.

[Deleted User]

The_enquiring_mind wrote: »

I have just been refused repayment of Ppi on a credit card held with Capital one, does the fact I was not advised to check out other insurance options and only given an estimate of 69p per £100 as a guide to cost count as a reason for arguing my case.

No, lenders are under no obligation to inform customers that insurance products are available elsewhere.

Credit card PPI is only paid if there is a balance on the account, therefore it is impossible at the outset to do anything other than estimate how much you will end up paying.
Having said that, 6.9p per £100 (6.9%) is what you should have paid. Are you really saying you paid far more than that, or is 69p a typo?

If this was the "full and final" response from the Bank, then there is little point in "arguing your case" any further. The next stage of your complaint (if you remain dissatisfied) is to refer it to the Ombudsman. Do be aware that FOS take a year or more to adjudicate.

dunstonh

The_enquiring_mind wrote: »

I have just been refused repayment of Ppi on a credit card held with Capital one, does the fact I was not advised to check out other insurance options and only given an estimate of 69p per £100 as a guide to cost count as a reason for arguing my case.

Most Cap One cases were not sold. They were bought. So, that eliminates many complaints.

In your case, you don't appear to have a valid reason for complaint. So, that outcome is expected. There has and never has been any requirements to tell you to check out other companies. The cost of 6.9% is fine. By telling you that it was 6.9p per hundred, they have done it correctly. As credit cards have variable balances, there is no other way of putting it.

zappy77

My son had a PPI refund refusal letter from Barclays bank, it has gone 6 months since he received it. Is it too late to go to the Ombudsman, as the decision they gave does not give enough evidence from them, to support it.

[Deleted User]

zappy77 wrote: »

it has gone 6 months since he received it. Is it too late to go to the Ombudsman,

You have only six months from the date of the refusal to refer the complaint to FOS.
Only in very rare circumstance does FOS make exceptions to this. Why have you waited so long to refer?

latin105fm

-taff wrote: »

No, what they're saying is that any money you get if your complaints are upheld will first go towards paying back any amount they offset. Once this amount has been paid, you get the rest, if there is any.

But all my debts are on my credit report as "Settled" so how could they then re-open the debt that is now settled?

Cheers

[Deleted User]

latin105fm wrote: »

But all my debts are on my credit report as "Settled" so how could they then re-open the debt that is now settled?

"Settled" is not the same as completely paid off.
Here is Dunstonh's reply to you from the 19th October;

Dunstonh_on_19/10/12 wrote:

Lenders are allowed to use any redress payment against debts written off, defaults and arrears but only against their own debt.

Your debt was "settled" with amounts written off, but you want to re-open the debt by attempting to get redress from mis-selling. All this despite this "settlement" which should really have ended the matter once and for all for both sides.

I don't know why you are still pursuing this, we basically informed you of this weeks ago.

Here is your own reply from October, apparently signifying your understanding of this:

latin105fm_also_on_19/10/12 wrote: »

From what I can understand, you're basically saying, no point in pursing as they will use the fact I never paid back the amount I borrowed, against me?

If the amount you potentially receive exceeds the amount(s) written off, you'll receive the difference.

Sergeantbluebird

Hi

New poster here with a PPI claim ongoing with DFS who have recently refused to compensate. The salesman when buying the sofa was quite pushy and although we said that my partners father is wealthy and would assist if we enter financial difficulty the salesman insisted that as we would only receive SSP in the event of illness, PPI would be needed. The salesman filled in the form and even ticked the box where we state that the loan wouldnt cause a problem if i were sick or unemployed. We also had the box ticked where we state that we have other resources to protect the loan. Here is a copy of the contract which i thought is as blatant PPI mis-selling as you could get...

Do you think we have a case to send this onto the ombudsman or should we take it higher within DFS first?

Many thanks in advance for any advice!!:)

Sergeantbluebird

Sorry wouldnt let me post a link, its on photo shop
w w w .photoshop.com/users/Sergeantblue/albums/49603879643b4d0e94c5ae476ea73bc1/view#73f08f584c6644b5ace357c6925924be

-taff

You may have had those boxes ticked but then you haven't got the other boxes ticked that would list the insurances.
You could ask them to reconsider their decision based on the fact the form was contradictory, but then you may have to concede defeat with them and go to the FOS anyway because your complaint is hearsay.
You have six months from the date of final refusal, so don't delay.