PPI FAQs discussion thread

dunstonh

petra40cat wrote: »

Hello, is it possible to claim ppi on old business loans taken out through barclays?

You can complain about whatever you like.

Hannibec

Hi,

I am hoping that someone may be able to help with the following queries....

Creation Finance rejected a PPI claim as they were not FSA registered at the time the store card was taken out...2004.....is it still possible to make a claim against Sygma Bank as the initial lender? My husband was self-employed at the time and still is and was never advised that is was unlikely he would be able to claim against it if he was unable to work.

If a debt is passed to Moorcroft Debt Recovery and a settlement figure is offered, is it the initial lender that either agrees or disagrees to the offer or Moorcroft?

Thank you for any help you can offer and advise ;-)

Riss1971

Hi, I have many credit cards but pay them off fully each month so have not incurred any interest charges. Would I therefore have paid any PPI and be eligible to reclaim?

[Deleted User]

Riss1971 wrote: »

Hi, I have many credit cards but pay them off fully each month so have not incurred any interest charges. Would I therefore have paid any PPI and be eligible to reclaim?

PPI on credit cards is only paid when your account has a balance. Assuming you even had PPi in the first place, if you religiously paid off your account each month you won't have paid any PPI.

Complainants will only ever receive a refund of money paid; no payment equals no refund.

shell2965

I (regretably) got the claims guys to sort out my PPI......on the day i recieved my offer i also had a demand payment from them.......i have now been told that my payments have gone to pay off my debts (of which my IVA) was sorted 2 yrs ago!!!
My question is that should they not have informed me i would get a bill despite not recieving any money or even that i was not entitled to any money??

Nasqueron

shell2965 wrote: »

I (regretably) got the claims guys to sort out my PPI......on the day i recieved my offer i also had a demand payment from them.......i have now been told that my payments have gone to pay off my debts (of which my IVA) was sorted 2 yrs ago!!!
My question is that should they not have informed me i would get a bill despite not recieving any money or even that i was not entitled to any money??

They did, clause 2F of their terms of use (which you confirmed you had read before signing up with them - you tick the box to say "I agree with the Terms of Use" to submit - and presumably also on their paperwork) states:

Compensation may be used by a Company to reduce any outstanding debt You owe them and You understand that TCG’s Fee of 30% + VAT will be payable to TCG based on
the total amount of calculated Compensation even if the Company does not pay the whole sum of the Compensation to You in cash. TCG will invoice You for the Fee which will
become immediately due and payable by You to TCG.

Unfortunately you have learned the hard way that CMCs do nothing and demand a cut of the money that was rightly used towards paying off the money you owed the finance company (e.g. money written off etc) which you would never have seen anyway.

You can try and argue the toss about being in an IVA but if you didn't tell them that, how would they know - if you did, they should have told you this?

dunstonh

shell2965 wrote: »

I (regretably) got the claims guys to sort out my PPI......on the day i recieved my offer i also had a demand payment from them.......i have now been told that my payments have gone to pay off my debts (of which my IVA) was sorted 2 yrs ago!!!
My question is that should they not have informed me i would get a bill despite not recieving any money or even that i was not entitled to any money??

The general advice you get is that if you are in arrears, defaulted, bankrupt or had debts written off as part of a settlement, then you should not use a claims company.

The MOJ has rules on complaints that are not likely to result in "cash in hand". The claims company is required to let you know. If they never did this and were aware of the situation (you have to have told them) then you should make a complaint. The claims guys have cold called me before and told me really bad lies on the phone. However, they would quite likely point to the contract you signed. I would still complain to them and the MOJ as you have nothing to lose.

-taff

Hannibec wrote: »

Creation Finance rejected a PPI claim as they were not FSA registered at the time the store card was taken out...2004.....is it still possible to make a claim against Sygma Bank as the initial lender?

If creation finance sold it to you, then no, if they weren't regulated at the time, you've had it.

cybergambit

I applied for a PPI claim refund from AMEX and they responded in writing with a rejection. I know I should now go to the Ombudsman but what if the rejection was last year? Can I still appeal if it is over 6 months since the bank rejected me?

[Deleted User]

cybergambit wrote: »

Can I still appeal if it is over 6 months since the bank rejected me?

Typically only if you have suffered a close family bereavement or been hospitalised due to a serious illness. You'll also have to be able to account for the whole period you failed to refer your complaint (not just the first six months).

In short, the answer is no.