PPI FAQs discussion thread

dunstonh

bazantil wrote: »

Hi,

I am new to the forum so I apologise if this has been posted in the wrong area....

I recently contacted the Financial Services Compensation Scheme regarding a PPI claim and they referred me onto Financial Services Commission in Gibralter, basically they are telling me that my broker changed their name in 2003 and now they are pending liquidisation.

Does this mean that I am unable to claim or can I go straight to the Ombudsman now rather than wait for the 8 weeks to clear? (if appropriate).

Any advice much appreciated.....

You do not have access to the ombudsman. The FOS only deal with mainland cases where the product was bought after January 2005 and the firm is still trading. Gibraltar has it's own scheme.

bazantil

Thanks for the reply....

The product was bought in May 2005 in UK, although I was told that our broker had changed their name in 2003, but our paperwork still has the original brokers name on it, so was a bit confused about that anyway.

So I guess we will have to carry on with Gibralter then....

weekendlad

i took out car finance with gemoney around 2005 and have since paid it off. never late with monthly payment and got a thank you letter from them when final payment was made - how do i find out if they sold me ppi without me knowing? the car company does not exist anymore . i have also been sent a letter from MBNA saying i was mis-sold ppi and am awaiting outcome of complaint - are these companies required by law now to tell you that they may have mis-sold ppi ?.

dunstonh

are these companies required by law now to tell you that they may have mis-sold ppi ?.

Only if they know you were mis-sold. So, take that as a no in 99% of cases.

the car company does not exist anymore .

The car company has liability for the sale. You can ask GE if you ad PPI but if you want to make a complaint you complain to the company that sold it to you (car company). If the car company doesnt exist you would have to refer your complaint to the FSCS.

michter

Hi guys, wondered if anyone could help.
I had a mortgage with ppi, started about 1999 with the halifax and lasted for about 4 years before i moved.
I have no paperwork at all for it now, is there anyway of making a claim.

PS My mortgage is still with the Halifax as it always has been. TIA

dunstonh

michter wrote: »

Hi guys, wondered if anyone could help.
I had a mortgage with ppi, started about 1999 with the halifax and lasted for about 4 years before i moved.
I have no paperwork at all for it now, is there anyway of making a claim.

PS My mortgage is still with the Halifax as it always has been. TIA

You can complain by all means. You just have to give your reasons for complaint as per normal. Worth noting that MPPI does have a lower success rate on complaints and Halifax only retailed monthly premium standalone cover. So, a technical failure wont exist. So, typically you need an eligibility issue or financial need issue to be the reason for complaint.

michter

dunstonh wrote: »

You can complain by all means. You just have to give your reasons for complaint as per normal. Worth noting that MPPI does have a lower success rate on complaints and Halifax only retailed monthly premium standalone cover. So, a technical failure wont exist. So, typically you need an eligibility issue or financial need issue to be the reason for complaint.

I was basically forced into taking the ppi as being a "requirement" for being given the mortgage. The job a had, I had held for about 10 years and was very secure, good sick pay, benefits etc.

JuicyJesus

michter wrote: »

I was basically forced into taking the ppi as being a "requirement" for being given the mortgage. The job a had, I had held for about 10 years and was very secure, good sick pay, benefits etc.

They are allowed to insist on insurance as a condition of the mortgage, and moreover it's generally recognised as a good thing to have. Advisors have to document good reasons why they don't recommend it or the customer refused it.

Also, having a secure job is not a good complaint reason. It's like saying you don't need buildings insurance because your house hasn't burned down.

Charliegirl_4

Hi there

Newbie here on the forum site but wondered if anyone by chance still has a copy of the policy summary for Halifax Mppi that was purchased in Oct 2003.

Be a great help if anyone has this.

[Deleted User]

Charliegirl wrote: »

wondered if anyone by chance still has a copy of the policy summary for Halifax Mppi that was purchased in Oct 2003.

What would you do with this document? Alter it and pass it off as your own?


(By the way, you made your first forum post in 2009 so you can hardly continue to call yourself a "newbie")